Bremworth (BRW) AGM 2025 summary

Opening remarks and agenda

• Meeting held both in-person and online, marking the first AGM for the current board and CEO.

• Attendees included auditors, legal, and financial advisors; administrative matters and safety instructions were covered.

• Presentations from the Chair and CEO were scheduled, followed by shareholder Q&A and general discussion.

• Five resolutions were to be addressed, as notified in advance.

Board and executive committee updates

• Board refreshed in March, bringing diverse experience in agribusiness, manufacturing, retail, and governance.

• Board comprises Rob Hewett (Chair), Julie Bohnenn, Trevor Burt, Murray Dyer, and Grant Biel.

• Directors have been hands-on, spending significant time in plants and with customers.

• CEO Craig Woolford and his executive team were introduced, with thanks to advisors and auditors.

• Leadership team rebuilt with new CFO, sales, operations, and IT heads, fostering renewed accountability and customer focus.

Financial performance review

• Revenue increased to NZD 88.4 million from NZD 80.3 million in 2024, driven by reinstated production and improved customer relationships.

• Normalised EBITDA loss was NZD 13.5 million, compared to a NZD 4.7 million loss the previous year.

• Net profit after tax was NZD 19.1 million, up from NZD 4.6 million, due to insurance proceeds and restructuring.

• Second half of FY2025 showed improvement as cost controls and manufacturing stabilized.

• Cash position at year-end was NZD 42.2 million.