Allied Farmers (ALF) AGM 2025 summary

Opening remarks and agenda

• Meeting opened virtually, enabling broader shareholder participation and online voting and Q&A.

• Notice of meeting and explanatory notes were distributed on 20 October 2025; quorum confirmed with over 26% of shares represented by proxy.

• Chair and Managing Director addressed shareholders, outlining the meeting's agenda and key topics for discussion.

Financial performance review

• Audited net profit before tax was $4.1 million, down from $7.3 million in the prior year; net profit after tax was $2.9 million, down from $5.2 million.

• Underlying profit after tax rose to $3.84 million, up from $2.69 million; FY25 Group NPAT was $3.8m, up 41% from $2.7m in FY24 (excluding one-off gains).

• Group revenue grew 11% to $30.6m, and Group EBITDA rose 24% to $6.0m.

• Earnings per share were 9.97 cents (down from 18.07 cents); net tangible assets per share increased to 51 cents from 40 cents.

• NZFL/NZ Farmers Livestock EBITDA fell 42%, while NZRLM EBITDA was stable at $2.1 million.

Board and executive committee updates

• Shelley Ruha remains Chair, Philip Luscombe as Independent Director, and Richard Milsom as Managing Director.

• Stephen Reid appointed as CFO, replacing Brian Lee effective 17 November 2025.

• Board expressed gratitude to outgoing CFO Brian Lee for his long service.