grdc growers' report - Grains Research & Development Corporation

eport from the chair and managing director
GRDC financials at a glance
Where 2010–11 research levies came
from ($m)
GRDC Investments in 2010–11 by
Line of Business ($m)
■ Coarse grains $18.5
■ Pulses $8.3
■ Oilseeds $13.8
■ Wheat $63.9
■ Practices $60.2
■ Varieties $57.7
■ New Products $14.9
■ Communication and
Capacity Building $6.8
How the 2010–11 figures stacked up
INCOME 2010–11 EXPENDITURE & INVESTMENTS 2010–11
$m $m
150
150
=
125
125
100
100
75
75
50
50
25
25
0
0
■ Industry contributions 104.5 ■ R&D payments 140.7
■ Commonwealth contributions 53.4 ■ Employees 6.9
■ Interest income 7.2 ■ Suppliers and others 6.5
■ Project refunds, royalties & other income 10.4 ■ Movement in reserves 20.8
R&D investment by line of business and region in 2010–11
GRDC reserves, R&D payments and
revenue ($ million)
180
$ million
70
$59.1m
(42.0%)
60
50
$50.9m
(36.2%)
$60.2m
(42.8%) $57.7m
(41.0%)
160
140
40
30
$30.7m
(21.8%)
120
100
80
60
20
10
0
Southern
Region
Western
Region
Northern
Region
$14.9m
(10.6%)
Practices Varieties New
Products
$6.8m
(4.8%)
CCB
$1.1m
(0.8%)
Other
40
20
0
1999–00
2000–01
2001–02
2002–03
2003–04
2004–05
2005–06
2006–07
2007–08
2008–09
2009–10
2010–11
—— Reserves/equity
—— R&D payments
—— Total revenue
a Figures for 2006–07 have been restated in accordance
with a new accounting policy regarding grant income.
b Australian Bureau of Agricultural and Resource
Economics and Sciences (ABARES) estimates for
the number of broadacre farms planting at least
100 hectares for grain, oilseed or pulse production.
Figures for 2006–07 to 2009–10 restate the estimated
numbers of grain farms shown in previous GRDC
growers’ reports following ABARES advice that previous
estimates had included non-grain crops.
c Latest ABARES estimates for the gross value of
production of grains and oilseeds, excluding rice—
from the June 2011 Australian Commodities report.
d Latest ABARES estimates for total summer and winter
crop production, excluding cotton seed and rice—
from the June 2011 Australian Crop Report.
GRDC financial overview
GRDC financials at a glance 2010–11 2009–10 2008–09 2007–08 2006–07 a
Grower R&D levies collected $104.5m $74.1m $89.2m $76.6m $50.9m
Australian Govt. Matching contribution $53.4m $50.1m $43.9m $37.6m $35.8m
Interest, royalties & other income $17.6m $19.6m $17.3m $13.0m $11.9m
Total GRDC revenue $175.5m $143.8m $150.4m $127.2m $98.6m
R&D expenses $140.7m $116.8m $106.3m $89.1m $105.6m
Employees, suppliers, administration,
dep’cn $12.6m $12.0m $11.7m $11.5m $11.3m
Asset revaluations $0.8m $4.6m $3.3m $1.9m $1.3m
Total GRDC expenditure $154.1m $133.4m $121.3m $102.5m $118.2m
Operating surplus/(deficit) $20.8m $9.8m $28.5m $24.1m ($19.8m)
Total assets $206.0m $176.7m $159.1m $117.5m $106.0m
Total equity $149.3m $128.5m $118.7m $89.7m $65.6m
Number of projects 900 868 771 611 680
Grains industry profile
Estimated number of grain farms b 20,993 20,993 22,082 22,006 20,097
Estimated gross value of production c $12,701m $8,588m $10,749m $10,733m $5,006m
Total grain production—summer
and winter crops (million tonnes) d 44,743 37,330 37,609 29,748 19,188
8 GRDC GROWERS’ REPORT 2010–2011