Abacus Group (ABG) AGM 2024 summary

Opening remarks and agenda

• Chair Myra Salkinder and Managing Director Steven Sewell addressed the meeting, highlighting leadership roles and committee memberships.

Financial performance review

• Total assets reached $2.6bn, up 1.4% from FY23, with gearing at 32.3%, down 90bps.

• Statutory loss of $241.0m reported; FFO from continuing operations was $81.3m, up 3.0%.

• Net tangible assets per security at $1.76; occupancy at 94.2% with 47,134sqm leased.

• Divestment of Market Central, Lutwyche QLD, settled in October 2024.

Board and executive committee updates

• Board includes independent non-executive directors with defined committee roles in audit, risk, people, and sustainability.