Western Australian grain co-op CBH Group has reported a profit of $208.3m, up from $73.8m the previous year, powered by a 20.4 million tonne harvest and strong supply chain performance.
Ben Macnamara, CEO of the farmer-owned co-op, credited sustained network investment and the productivity of its growers for the achievement.
“Grower productivity and resilience saw another harvest of over 20 million tonnes delivered into the CBH network,” he said. “The CBH team rose to the task of safely receiving and outturning the crop, which marked our third-largest crop on record.
“This achievement reflects strong planning and operational performance, and sustained investment in the network.”
Operations contributed $201.2m to the surplus, reflecting increased receivals and efficiency gains made across the supply chain.
“Our Operations team set a new daily receival record of 631,000 tonnes and outturned over 2 million tonnes in a single month – twice,” said Macnamara.
“Marketing & Trading faced tough trading conditions, posting a $14.6m loss – however it paid $4.2bn to growers throughout the year in line with its purpose of driving a competitive price market for growers.”
In its tenth year of operation, CBH Fertiliser outturned a record 297,000 tonnes. CBH said the division “continued to deliver on its strategic commitment to drive competitive fertiliser prices for WA grain growers”.
In line with its Path to 2033 Strategy, CBH invested $590m into the network, including $339m to upgrade country sites and ports, and $171m on sustaining capital.
“More than 500 of our new custom-built wagons have been delivered,” added Macnamara, “with the remaining 150 wagons arriving in the new year.
“We also completed the rapid rail outloading projects at Broomehill, Cranbrook and Moora, strengthening WA’s grain outturn and export capacity.
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“Looking ahead, CBH is focused on delivering Horizon 2 of its Strategy, targeting a monthly outturn target of 2.5 million tonnes per month by 2028 to keep pace with growing crop sizes.”
The co-op, which has just sold its stake in Asian processor Interflour to invest in its domestic operations, hailed a number of steps forward in the report, including the introduction of more than 500 of new, custom-built grain wagons across its network. The remaining 150 wagons and 24 new locomotives will arrive next year.
“This is a historic moment for CBH,” said Macnamara, “marking the largest rail fleet investment in the co-operative’s history. I am proud that we are now able to move more grain to our four ports, positioning us strongly to achieve our Path to 2033 Strategy targets, and ultimately, generate more value for growers.
“Another highlight this year was the completion of the state-of- the-art rail facilities at Broomehill in early in 2025, and Cranbrook and Moora later in the year. These facilities will enhance our operational performance moving forward.”
The report also notes improved safety, “with a record low All-Injury Frequency Rate of 4.5… In addition, the rate of serious incidents decreased by 30% year-on-year.
“While there is still more work to be done, together we are targeting our efforts to identify, control, reduce and eliminate risks over time.”
Co-op chair Simon Stead said in the report: “It is an exciting time to be leading the co-operative.
“WA grain growers are producing more than ever before and CBH is stepping up to the task. Guided by its Path to 2033 Strategy, CBH is delivering on its commitment to strengthen the supply chain.
“Together, WA growers and the CB team are driving the co-operative forward and ensuring the longevity of the WA grain industry for generations to come.”
