The big turnaround occurred after Refining NZ implemented a strong "self-help" action plan that included strengthening its balance sheet, improving margins by generating more high-value products from the same barrel of oil, introducing lean manufacturing processes and managing its costs.
Refining NZ enjoyed a record throughput of 7.52 million barrels during July/August this year, producing year-to-date processing revenue of $234 million -- the highest since 2006.
The revenue was boosted by a low NZ dollar of US66c and a strong gross refining margin of US$9.25 a barrel.
The judges say Refining NZ stood out for this award. Sjoerd is a tough individual and has driven performance. "He is a top guy and fairly much your non-typical top 50 chief executive officer."
See video: Most improved performance
Judge Sandy Maier says "we were impressed by Refining NZ's deliberate actions to improve earnings. We looked at whether it was a one-off or they had got on top of the situation. We think the latter applies."
Refinery NZ's new $365 million Te Mahi Hou CCR (continuous catalytic regeneration) unit at Marsden Point is about to be commissioned and this will boost the company's performance.
Based on the present low crude oil price, the modern unit is expected to improve refining margins by US90-95c a barrel, processing volumes by about three million barrels, and operating cash flows by about $50 million a year.
The investment will take Refining NZ's share of the country's petrol demand to 65 per cent, from 55 per cent.
Refining NZ chairman Simon Allen said in the latest interim report: "In the absence of another major project the size of Te Mahi Mou, we are confident there is a sufficient 'funnel' of improvement ideas within the team to pursue a series of smaller capital projects that will enhance margin over the next three to four years."
Finalist: Zespri
Global kiwifruit marketer and exporter Zespri and its 2500 growers are in pretty good shape after the Psa bacterial vine disease struck five years ago.
The big-selling gold kiwifruit crop was ravaged in the main growing area of Bay of Plenty but the hardy green (Hayward) variety held up well.
Zespri has just completed its third season of selling its new and Psa-resistant Gold3 variety, marketed as Sungold, and its immediate success in the overseas markets has helped the industry stage a grand comeback.
Production and sales are back to pre-Psa levels -- and growing. Zespri sold 95 million trays of New Zealand-grown kiwifruit, an increase of 11 per cent, during the 2014/15 financial year and the sales fetched $1.568 billion, up 16 per cent.
Zespri doubled its net profit to $34.6 million, which included a one-off gain of $13.1 million from Gold licence incomes. The growers received fruit and service payments, including loyalty premiums, of $940 million, up 17 per cent.
Zespri says volumes have increased 25 per cent in the present selling season and sales should near $2 billion. Zespri has despatched a record 32 million trays of Gold3, up from 18.6 million trays in the previous year.
Boosted by a shortage of rival Chilean kiwifruit on the overseas markets, the green variety is having a revival. The average orchard gate return for green kiwifruit has gone over $6 per tray, and average hectare return is a record $53,884. Average yields per hectare are now nearly 9000 trays.
The Gold3 volumes will keep increasing over the next few years, as more orchards mature, and this will have some impact on green demand and returns. Also, the bigger Gold3 crop will create challenges for Zespri to maintain a premium price.
Finalist: Comvita New Zealand
Comvita, based in Paengaroa, south of Tauranga, could be described as a "noisy neighbour". It is constantly communicating its New Zealand natural health and marketing story, particularly to the Asia-Pacific markets.
Its passionate chairman, Neil Craig, and new chief executive Scott Coulter, formerly marketing manager, lead the charge in spreading the message.
Comvita has thrived on online activity -- through social media and selling on seven country-specific e-commerce websites. Sales through the direct digital channels have increased 55 per cent.
Comvita's products, containing "life-giving" ingredients such as UMF manuka honey, propolis, olive leaf and Omega-3 oil, are sold in 68 retail stores in Hong Kong, Taiwan, South Korea, Japan, UK and New Zealand, as well as 400 outlets in China.
In Australia the products are sold through Health Food stores and pharmacies.
The products cover four categories: Healthcare, functional foods, personal care, and medical.
Over the past 12 months, Comvita's share price has soared to more than $8 after reaching a low of $3.49.
Comvita increased its sales revenue 32 per cent to $53 million during the 2014/15 financial year, and it made a record net profit of $10.2 million. For the six months ending September, net profit was $3 million on sales of $91 million. This compared with an after-tax loss of $3.3 million and sales of $60 million in the previous corresponding period.
Coulter said, at the time of the six-month announcement: "We are confident that leveraging our premium brand position, our strong path to market and our continued focus on optimising profitability across all facets of the company, should result in the company continuing to deliver sustainable earnings growth into the future."
