Nga Rarangi Take Ka Pu Te Ruha, Ka Hao Te Rangatahi Annual Report 2020 Nga Rarangi Take Ka Pu Te Ruha, Ka Hao Te Rangatahi When the old net is cast aside, the new net goes fishing, our new strategy remains founded on our vision. Nga Rarangi Take CONTENTS Nga Rarangi Take Introduction/Snapshot 4 Te Arawa 500 scholarships 26 Highlights - 2020 5 Iwi Partnership Grants Programme 27 Your Te Arawa Fisheries 6 Te Arawa Mahi 28 Our Mission/Vision 8 INDIGI-X 29 Message form the Chair 9 Looking to the Future 30 CEO’s Report 10 Research and Development 31 COVID-19 11 Smart Māori Aquaculture Ngā Iwi i Te Rohe o Te Waiariki 32 Rotorua Business Awards Finalist 12 Ka Pu Te Ruha, Ka Hao te Rangatahi Taking our Strategy to the next level 14 Te Arawa Fisheries Climate Change Strategy 34 Governance Development 16 Aka Rākau Strategic Partnerships and Investing for the Future 18 Te Arawa Carbon Forestry Offset Programme 36 Te Arawa Fresh - What Lies Beneath 20 Te Arawa Fresh Online 21 APPENDIX 1: T500 Recipients 38 Our People 22 APPENDIX 2: 2019-2020 Pataka Kai Recipients 40 Our Team 22 APPENDIX 3: AGM Minutes of the Meeting for Te Arawa Fisheries 42 Diversity Report 24 Financial Report 2020 45 Our board of trustees: from left to right. Tangihaere MacFarlane (Ngati Rangiwewehi), Christopher Clarke (Ngati Rangitihi), Blanche Reweti (Ngati Tahu/Whaoa), Dr Kenneth Kennedy (Ngati Rangiteaorere), back Willie Emery (Ngati Pikiao), in front of Dr Ken Roku Mihinui (Tuhourangi), Paeraro Awhimate (Ngati makino), in front Pauline Tangohau (Te Ure o Uenukukopako), behind Punohu McCausland (Waitaha), Tere Malcolm (Tarawhai) Nga Rarangi Take Introduction/Snapshot Timatanga Korero e Kotahitanga o Te Arawa Waka Fisheries Trust Board was legally established on T19 December 1995 by a deed of trust. In order for the Trust to receive assets in settlement of Te Arawa’s claims to commercial fisheries under the Māori Fisheries $4.5m$1.035m increase Act 2004, changes were made in relation to the Trust pursuant to a deed dated 26 TOTAL from 2019 July 2006 which included the establishment of the Companies to hold and manage the assets. Te Ohu Kaimoana approved the Trust as a mandated Iwi organisation to REVENUE receive the assets and Te Arawa Fisheries Holding Company Limited as the asset holding company in September 2006 which facilitated the transfer of Te Arawa’s fisheries settlement assets that we now hold. Te Arawa Fisheries Group was established in 2006 to manage the Te Arawa fisheries $3.9m assets, transferred to the tribe from the Crown, under the Māori Fisheries Act of $825k increase 2004. At the time of transfer in September 2006, these assets comprised $7.1m of TOTAL from 2019 fishing quota, $3.1m of cash and $13.3m of shares in Aotearoa Fisheries Limited. EXPENSES Its purpose remains the same as it is now: the responsible management of the tribe’s fisheries assets, with the proceeds to benefit all Te Arawa whānau through grants, koha, scholarships, kai and more. The Group’s careful management in the past 14 years has created and ensured a $591k sustainable and solid business, easily fulfilling its mandate. NET SURPLUS However, a new strategy developed at the end of 2019, and subsequent mahi AFTER TAX undertaken in 2020 – in the middle of a global pandemic – has seen the Group look $173k increase from 2019 far over the future horizon to diversify, innovate and future proof its operation to ensure even greater outcomes for whānau in the short and long-term. Its current strategy and numerous workstreams, which are already well advanced .5m will take Te Arawa Fisheries to a whole new level, putting it at the leading edge of TOTAL the industry in Aotearoa and on the global stage. $29 EQUITY $415k increase from 2019 4 Te Arawa Fisheries | Annual Report 2020 SURPLUS NET FOR YEAR 700k 600k 500k 400k 300k 2020 3% Nga Rarangi Take 200k 2019 100k 0 Highlights -100k- 20202018 Nga Tipako – 2020-200k Group ROI DEBT RETURN ON ROARETURN ON ASSETS INVESTMENT RATIO profitability The 3% ratio shows a favourable position towards 1%The strong ROA of 1% in 2020 indicates a favourable 1%The company has maintained a strong position since 3%using the investment to generate inflow of money position of the company’s profitability by generating 2019, as only 1% o the total assets is required to pay in the Company. more income from the available assets. of the company’s debt owing to suppliers. SURPLUS Expenses 25% NET FOR YEAR OTHER OPERATING 700k 600k 500k 28% .86m 4% 400k SEAFOOD $ TOTAL ACE 300k WORK 3 2020 EXPERIENCE EXPENSES 200k 2019 100k 39% 0 4% IWI FUNDING, SEAFOOD -100k 2018 TRAINING & SHOP SCHOLARSHIPS -200k OPERATING Ka Pu Te Ruha, Ka Hao Te Rangatahi 5 ROI RETURN ON INVESTMENT The 3% ratio shows a favourable position towards 3%using the investment to generate inflow of money in the Company. Nga Rarangi Take Your Te Arawa Fisheries e Arawa Fisheries is made Tup of a parent body, Te Kotahitanga o Te Arawa Waka Fisheries Trust Board, and two companies, Te Arawa Fisheries Limited and Te Arawa Fisheries Holding Company Limited. 6 Te Arawa Fisheries | Annual Report 2020 Nga Rarangi Take Governs Te Arawa Fisheries Group and delivers benefits for Te Arawa descendants through programmes such as Te Arawa 500 Scholarships, Iwi Partnerships and the provision of kaimoana for tangihanga. The board comprises elected representatives from each of our 11 iwi of Ngati Makino, Ngati Pikiao, Ngati Rangiteaorere, Ngati Rangitihi, Ngati Rangiwewehi, Ngati Tahu/Whaoa, Ngati Tarawhai, Tapuika, Te Ure o Uenukukopako/Ngati Visit the website to Whakaue, Tuhourangi and Waitaha find out more > Te Arawa Fisheries Group Te Arawa Fisheries Te Arawa Fisheries Ltd Holding Company Ltd Te Arawa Mahi partners with Te Arawa Fresh is our physical and virtual seafood retail storefront, with local, regional and national Together, Te Arawa Fisheries Holdings Ltd and Te Arawa Fisheries Ltd form the two stores in Rotorua, a mobile shop organisations to create job and core of Te Arawa Fisheries Group. upskilling opportunities and career that covers the wider Te Arawa rohe pathways for Te Arawa whānau – in The Holding Company was established to receive Te Arawa’s fisheries every week, as well as an online store. the seafood industry, associated settlement assets. It continues to hold the settlement and non-settlement Our retail operation employs more industries and beyond. In a post- quota, along with the Te Arawa shares in Moana NZ. than 10 people and ensures Te Arawa COVID environment this mahi will and the wider Rotorua community be even more important. Te Arawa Fisheries is the management company for the Te Arawa settlement have access to fresh, healthy assets. It receives proceeds from the Holding Company and is responsible for kaimoana year round. Its proceeds go the actual management of the operations, including activities such as R&D. back into the wider group to provide benefits to Te Arawa descendants. Ka Pu Te Ruha, Ka Hao Te Rangatahi 7 Nga Rarangi Take Our mission: Kia whakakotahi tatau o Te Arawa Waka ki raro i te maru o nga taonga o Tangaroa mo nga whakatupuranga o Te Arawa. Our vision: Effective Te Arawa Iwi, Prosperous Te Arawa Whanau, Healthy Te Arawa Moana. 8 Te Arawa Fisheries | Annual Report 2020 Nga Rarangi Take Message from the Chair He Kupu Korero na Te Tiamana The 2020 financial year (finishing at 30 September 2020) was unprecedented on many different levels – but it was also a particularly defining year for Te Arawa Fisheries, its people and its beneficiaries. New Zealand’s response to COVID-19 had an obvious impact on our operation. But at the same time, it created the space and opportunity for our team to progress our strategy and set the stage for future growth, diversification and ultimately, to ensure greater benefit for Te Arawa whānau over time. Due to some of the early work on our strategy, we were in a strong position to respond and adapt to the rapidly evolving COVID-19 situation. While our retail shops were not able to open, our transition to an online operating model just before lockdown meant the rest of the team and trustees were able to move efficiently and effectively to a remote working environment. And this mahi has paid off, with significant progress made on the delivery of our business strategy and an increase in revenue between the 2019 and 2020 financial years. I would like to take this public opportunity to thank our trustees and our team for all of their hard mahi over the past year. They have risen to the challenge and continued to deliver for our people. The past 12 months have also seen us take the opportunity to invest in our trustees and our operational team, ensuring they are more than equipped to help take Te Arawa Fisheries forward into a new era of development and delivery. While we continue to focus on our “business as usual” operations, we are looking far beyond the immediate horizon, to ensure our operation is protected from significant global impacts and that we can continue to derive the best possible outcomes for our whānau. Te Arawa Fisheries is entering an important phase of development and we’re excited about where it is going to take us. Noho ora mai Roku Mihinui Ka Pu Te Ruha, Ka Hao Te Rangatahi 9 Nga Rarangi Take CEO’s Report He Purongo na Te Pou Tu Mana E hika ma, tena rawaatu tatou i roto i nga āhuatanga o te Ao Ultimately, this means the economic, social, environmental and cultural aspects are at our heart, as well as the opportunity for When I took up the role of Chief Executive in late 2019 I found a solid, successful and synergy across all.