The end of the financial year is fast approaching and we are pleased to report we project to finish FY19 in a strong position, both financially and (more importantly) in relation to our regulatory requirements involving reasonable access, volume etc. The last remaining sites needed for reasonable access now have collection events locked in before the end of May, and we are projecting our FY 18/19 collection volumes will exceed our target, providing us with a welcome carry over to the new financial year.
Honouring our vision to be the ‘preferred product stewardship partner, connected locally and engaged globally’, we are pleased to announce that the past year’s activities have allowed us to provide a price reduction to our Members in FY20. You would have recently received a formal notification, along with our proposal detailing our value proposition, vision, and commitment to enhancing Member value.
As advised, our Member price has been set at $0.67/kg in FY20, and our independent producer responsibility (IPR) reporting only price will be $0.07/kg.
In just six years, we have successfully reduced our recycling rates by half. The Board is acutely aware of the market’s price sensitivity, and will continue to address this challenge through the ongoing improvement of work processes, tightly managing overhead costs, and the implementation of innovative approaches to improve operational efficiencies.
Our balance sheet is strong. ANZRP is currently operating with a positive cash flow reserve, with funds earmarked for investing in a number of promising opportunities that will be important to our growth and long-term stability and competitiveness in the market.
Such projects include our geographic expansion into New Zealand and (potentially) Singapore, opportunities for investment in new processing technologies to help subsidise Member fees, and internal process and system improvements.
A number of other initiatives are keeping the team very busy, including the development of an e-waste return channel in partnership with Australia Post, a schools education and recycling program, and applying to be a certified B Corporation.
We are excited to share the launch of these projects with you later in the year.
On behalf of the ANZRP Board and my dedicated team I hope your final quarter leading to the conclusion of this financial year is smooth and successful.
Stay safe,
Warren Overton, CEO
