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Wool Stocktake : AWI Annual Report 2013-14
The 2013/14 financial year was AWI's first year of operation under its 2013/14 to 2015/16 Strategic Plan. This Annual Report outlines the healthy progress that the company has made during this past year in achieving the targets set out in the three-year Strategic Plan. The Strategic Plan was developed by AWI in consultation with woolgrowers and other stakeholders to ensure AWI is meeting the needs of industry. Throughout its three-year business cycle, AWI continues to consult widely with woolgrowers and stakeholders through forums including the Woolgrower Industry Consultative Committee (ICC), biannual woolgrower forums, and attendance at regional field days and industry events. We stated in the three-year Strategic Plan that AWI income would be invested 60% in marketing, 15% in off- farm R&D, and 25% in on-farm R&D, and I am pleased to announce that our investments in the first year covered by the Strategic Plan resulted in almost exactly that ratio, specifically a 59.97%, 14.60% and 25.43% split. Our Marketing portfolio has invested in targeted programs to help create demand for Australian wool amongst consumers in key markets across the world, and thereby increase returns to woolgrowers. This year, the Merino Wool. No Finer FeelingTM fibre advocacy campaign continued to gain increasing support in the marketplace. The campaign is undertaken in partnership with designers, brands, manufacturers and the media, and now has more than 80 partners globally -- well above the target of 42 that we set out to achieve in the 2013/14 to 2015/16 Strategic Plan. The Campaign for Wool also continued to healthily build on its success of past years, educating consumers about the fibre's unique natural benefits. The breadth of key markets joining the campaign expanded with Italy hosting its inaugural Wool Week in 2013 and France in 2014. The campaign generated $40.1 million of editorial coverage in 2013, up from $29 million in 2012. The International Woolmark Prize was once again incredibly successful at showcasing the versatility and quality of Merino wool to the fashion and textile industries and consumers. Over the past two years the initiative has generated more than $105 million in editorial value. Its expansion into menswear this year signifies its strength and impact on the fashion industry. The Cool Wool consumer product marketing platform is growing demand for Merino wool in the spring/summer season as well as in markets that have hot climates, with Cool Wool ticket and label sales more than tripling over the past year. All the public relations activities surrounding our campaigns and their related events -- which involve designers, brands, retailers and other key partners -- have garnered significant media attention that helps promote and build demand for Australian wool amongst consumers across the world. Our Off-farm R&D portfolio facilitates the creation of business opportunities that foster new and globally diversified wool-processing capacity, and thereby support the creation of demand for Australian wool. In 2013/14, we provided technology transfer to wool processors and manufacturers -- 53 new businesses are now working with AWI in Vietnam, 28 in Russia and 12 in Belorussia. We also continue to demonstrate the benefits of wool for a healthy night's sleep, and the role of fine Merino baselayers in ameliorating chronic skin conditions. This R&D feeds into the development of products with opportunities in categories that support the increasingly prevalent and affluent LOHAS (Lifestyles of Health and Sustainability) consumer. Investment by AWI's On-farm R&D portfolio increased again in dollar terms in 2013/14, as it did in the previous year. The portfolio has delivered a range of targeted tools, skills and knowledge to help woolgrowers improve their on-farm productivity and profitability. Lifetime Ewe Management training has been extensively funded by AWI to help woolgrowers develop the practical skills to improve animal nutrition, lambing percentages and weaning rates. AWI funding has now supported more than 250 groups to complete training. More than 50 wild dog control groups were funded with grants for on-ground activities such as baiting, trapping and fencing to reduce wild dog predation across Australia. Protecting the national flock from flystrike remains a top research priority at AWI. We have a proactive and committed flystrike prevention R&D and extension program. While breeding resistant sheep remains a key tool for producers, R&D continues into breech modification alternatives such SkinTraction® and liquid nitrogen. AWI investments during 2013/14 to promote excellence in the wool harvesting industry and encourage young people to join the industry resulted in a 30% increase in numbers trained compared to last year. To help with extension, our seven state-based extension networks across Australia involved more than 9000 producers, and more than 80 Making More From Sheep events were held across Australia, attracting more than 1700 attendees. One year into our Strategic Plan, I am optimistic about achieving the large majority of three-year targets in the Plan. I feel our progress, combined with the vitality of the woolgrowers across the country that we serve, bodes well for the future of the wool industry of which I am very proud to be part. Stuart McCullough CEO, Australian Wool Innovation 22 August 2014 UP FRONT
AWI Annual Report 2014-15
AWI Annual Report 2012-13