Scion’s Annual Report for 2024 has been presented to New Zealand’s Parliament. As New Zealand’s leading institute in forestry, industrial biotechnology and advanced manufacturing Scion and its partners in government and industry to drive innovation and growth to create economic value and contribute to beneficial environmental and social outcomes for New Zealand. Source: Timberbiz
This annual report includes stories that highlight great examples of how Scion is working across its three impact areas to create technologically advanced and sustainable solutions that are driving growth in the forestry and biobased sectors, and achieving the objectives set out in its Statement of Corporate Intent.
Scion finished the year delivering NZ$68 million in revenue and faced a number of one-off costs over the year, including holiday pay remediation and redundancy provisions that have resulted in a net loss for the year of NZ$2.9 million, slightly ahead of the budgeted loss of NZ$3 million.
That budgeted loss was partly a result of it becoming apparent during the year that projected revenue, including from reallocation of the Climate Emergency Response Fund, would not be realised during the year. Achieving this result in the challenging economic environment while delivering science excellence is testament to the efforts of its board, management and staff.
A copy of the annual report is available here.
