Amotiv (AOV) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land owners and confirmation of quorum for the 68th AGM.

• Housekeeping and safety instructions provided; meeting conducted as a hybrid event with both in-person and online participation.

• Notice of meeting and annual report distributed to shareholders more than 28 days in advance.

• Chair Graeme Billings and CEO Graeme Whickman delivered addresses outlining the meeting's agenda and strategic focus.

Board and executive committee updates

• Introduction of all directors, including new appointments: Raelene Murphy (Audit Committee Chair) and David Coolidge (Risk Safety and Sustainability Committee Chair).

• James Fazzino appointed as Chair-elect, succeeding the retiring Chair, Graeme Billings, after 13.5 years of service.

• Board includes several independent non-executive directors and a new Chair-elect, James Fazzino.

• Elections held for Raelene Murphy and James Fazzino as non-executive directors.

• Board refreshment highlighted as a key focus, with diversity and tenure discussed in response to shareholder questions.

Financial performance review

• Revenue increased by 1.0% to $997.4m, with underlying EBITDA up 1.2% to $226.4m and underlying EPSA up 1.4% to 85.6c.

• Underlying EBITA decreased by 1.3% to $192.0m, while cash conversion was strong at 90.6%.

• Leverage rose to 1.9x, and FY25 dividends remained flat at 40.5c.

• Q1 FY26 revenue grew 3%, with underlying EBITA in line with expectations; group revenue growth is expected in FY26.

• APG business impaired in H2 FY 2025, with no impact on underlying trading or cash flows.