Brambles (BXB) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, confirmed quorum, introduced directors, and outlined meeting procedures and agenda.

• Board members, committee chairs, and external auditors were introduced; noted the retirement of Scott Perkins and new board appointments.

• Safety briefing and meeting logistics were provided at the start of the AGM held on 24 October 2024.

• Housekeeping included safety instructions, webcast details, and Q&A process for both in-person and online shareholders.

• The Chair and CEO delivered their addresses to attendees.

Financial performance review

• Achieved strong sales revenue growth, significant operating leverage, and a $385 million increase in free cash flow before dividends.

• Total dividends increased by 30% to $0.34 per share, with a 17% rise in basic EPS from continued operations.

• Free cash flow before dividends reached $882.8 million, and ROCE improved to 20.6%.

• FY 2024 sales revenue grew 7% (constant currency), with underlying profit up 17% and operating leverage offsetting higher costs.

• FY 2025 outlook reconfirmed: sales revenue growth 4%-6%, profit growth 8%-11%, and free cash flow $750–$850 million.

Board and executive committee updates

• Scott Perkins and George El Zoghbi retired; Cameron McIntyre and Tony Palmer appointed to the board, enhancing skills in finance, digital, and manufacturing.

• Board renewal and gratitude expressed for outgoing and incoming members' contributions.