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Synlait Milk (SML) investor relations material
Synlait Milk AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Opening remarks and agenda
Meeting held in Christchurch and online, with clear instructions for voting and Q&A participation provided to attendees.
Chair and CEO addresses opened the meeting, followed by resolutions, voting, and other business.
Four ordinary resolutions on the agenda: two Director elections, Auditor's remuneration, and the sale of North Island assets.
Board and executive committee updates
Board includes independent and Bright Dairy-appointed directors, with Paul Washer retiring and Julia Zhu joining.
Board remains at six Directors, with two Independent Directors; no immediate search for a replacement after Paul Washer's departure.
Audit and Risk Committee now chaired by Julia Zhu, with a commitment to review governance structure in May 2026.
Audit & Risk and People, Environment & Governance committees chaired by Julia Zhu and George Adams, respectively.
Board acknowledges current structure does not fully align with NZX Corporate Governance Code but is considered appropriate for now.
Financial performance review
FY2025 described as a period of intense challenge, including solvency issues, disputes, equity raising, and manufacturing setbacks.
$43.5 million in costs from manufacturing challenges in FY2025, with some costs expected to continue into FY2026.
$130m Bright Dairy shareholder loan and equity raise in 2024 supported survival and debt reduction.
$180m bond redemption completed by end of 2024.
Return to profitability signaled in March 2025, with new milk premiums and secured supply.
Sale of North Island assets to Abbott for NZD 307 million will significantly reduce debt and reset the balance sheet.
Peak debt projected to drop from $550 million to $250 million after asset sale, with only working capital debt remaining.
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Q3 FY26 net profit reached ₹21,028.15 crore, driven by robust income and strategic divestments. - 6 FebHTOO
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Targets 7–8% EPS growth, $37.5B capex, and coal exit by 2032 amid surging data center demand. - 6 FebBR
Q2 FY26 recurring revenue grew 8% and adjusted EPS guidance was raised to 9-12%. - 6 FebFFWM
Merger vote includes new non-voting stock class with limited conversion and no voting rights. - 6 FebKKR
Charter amendments seek to modernize governance and establish one share, one vote by 2026.
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