Chairman’s Report
NGĀTI AWA GROUP HOLDINGS LIMITED NGĀTI AWA ASSET HOLDINGS LIMITED
Whakaupoko Ngā hapū o Ngāti Awa can be justifiably proud with the record result the Ngāti Awa Group (Ngāti Awa Group Holdings Limited and Ngāti Awa Asset Holdings Limited together herein referred to as the “Group”) has achieved this financial year. The year has presented many challenges due to the ongoing impacts of COVID-19. Its effect not only on tourism, but also on the SME sector generally, cannot be overstated and both are areas in which the Group is an active participant. The other overarching matter your Board has been responding to is the ongoing impacts of the Whakaari eruption both in terms of supporting our personnel, and in assisting with the inquiries being conducted by officials. The Directors and management have and continue, to cooperate fully with these inquiries. In achieving a record result the Group has benefited from a deliberate strategy to diversify the business interests over recent years. Fundamental to achieving this result has been the hard work and commitment of Tracey Hook, our CEO, and her team. In spite of the extreme challenges Tracey and her team have faced, this is a very significant achievement and the Board would like to record its appreciation. Tracey will provide more detail in her report on the specific results achieved suffice to say here that the $14.7m and $7.3m net profits from NAGHL and NAAHL respectively are an outstanding financial result.
TE ARONGA WHAKAMUA Your Board, while recognising the importance of achieving strong financial outcomes, is also conscious there are other key imperatives that must be achieved if ngā hapū are to grow and flourish. For the future your Board will be looking to report to you on Outcomes that have been agreed and signed off by Te Rūnanga o Ngāti Awa (“TRONA”). These Outcomes are set out in our Strategic Plan and are encompassed in the whakataukī:
Kia whakanui I ngā rawa o ngā mahi ōhanga hei painga mō ngā Iwi o Ngāti Awa To sustainably maximise economic benefits for the people of Ngāti Awa.
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TE RŪNANGA O NGĀTI AWA | 2021 Annual Report
We apply a wide interpretation to economic benefits so as to encompass the general well-being of Ngā Uri o Ngāti Awa. These oranga guided by our five pou or putanga: Kaitiakitanga (high performing portfolio); Ngāti Awatanga (supporting TRONA outcomes); Kotahitanga (high performing organisation); Whānaungatanga (effective relationships); and, Manaakitanga (sustainability). Already we have achieved measurable success within some of these putanga. For a number of years (under the Whānaungatanga pou) we have been in a partnership with some of our Ngāti Awa Hapū in our two dairy operations. In more recent times we have entered into the Matai Pacific Iwi Collective kIwifruit partnership (involving ourselves, Te Arawa Group Holdings Ltd and Rotoma No. 1 Incorporation) and the Māori private equity fund Te Pūia Tāpapa. Both are proving to be successful high returning investments. Pou Whānaungatanga not only helps build relationships it also serves to provide greater opportunities and reduce risk.
