ALS (ALQ) AGM 2025 summary

Opening remarks and agenda

• Meeting declared open with a quorum present; directors and key executives introduced, including new board member Catharine Farrow and outgoing director Tonianne Dwyer.

• Procedures for questions and voting explained for both in-person and virtual attendees, with poll voting on all resolutions.

Financial performance review

• FY2025 revenue grew 16% to AUD 3 billion; underlying NPAT slightly declined to AUD 312.1 million due to FX and interest costs.

• Operating margin (excluding recent acquisitions) was 19.1%; final dividend of AUD 0.197/share, total AUD 0.386/share (AUD 187 million total payout).

• Gross capital expenditure was AUD 165 million (5.5% of revenue), with 70% directed to growth initiatives.

• Leverage ratio reduced from 2.3x to 1.7x after a AUD 372.5 million equity raise.

Board and executive committee updates

• Catharine Farrow appointed as independent NED in March 2025; up for re-election.

• Tonianne Dwyer stepping down after nine years; search for her replacement underway.

• John Mulcahy to retire at 2026 AGM; succession planning in progress.