Scion Annual Report 2023 highlights and financials

8 December 2023

I am very pleased to share with you Scion’s Annual Report 2023.

Our stories provide a glimpse into the varied and innovative initiatives undertaken at Scion over the year ending 30 June 2023. We’ve spotlighted instances of partnership and collaboration with industry, iwi and government across our three impact areas. These stories underscore the influence of our technologically advanced and sustainable solutions that are driving growth in the forestry, forest product and biobased sectors.

In 2022 Scion celebrated its 75th anniversary. Today, as we reflect on our achievements and look forward to the future, the knowledge and expertise we have developed over all these years remains at the heart of who we are and the impact we seek to achieve.

We finished the year in a good position – slightly below our budgeted revenue but still ahead of the prior year by $5 million. We had budgeted a small loss of $0.7 million with the projected growth, but actually delivered a profit of $0.5 million.

Forests are fundamental to our vision to transition New Zealand to a circular bioeconomy - not only for their ability to sequester carbon and meet climate change targets, but also as a renewable source of biomass to create low-carbon alternatives for fossil fuels, plastics, and the concrete and steel in our buildings.

Delivering on this vision is fundamental to our strategy targeting New Zealand’s carbon zero goals. Research that supports industry to manage New Zealand’s exotic forests and realise the values associated with our natural environment remains our core focus.

Please feel free to provide feedback and contact me directly on our annual report or performance.

Dr Julian Elder
Chief Executive