Clover Corporation (CLV) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum, hybrid attendance options, and webcast, with formal business including adoption of annual accounts, director retirements and elections, remuneration report, incentive plans, and new constitution.

Financial performance review

• FY2025 revenue reached AUD 86 million, up 38% year-on-year, with EBITDA at AUD 12.2 million and strong cash position of $8.9m.

• NPAT rose 370% and EBITDA was up 217% on the prior year, reflecting margin improvements and operational discipline.

• Second half sales surged to AUD 48.4 million, driven by human nutrition demand and new product launches.

• Gross margins improved due to cost management, new products, and operational efficiencies at Melody Dairies and the Ecuador facility.

• Net assets doubled since 2013, with significant debt reduction and improved working capital.

Board and executive committee updates

• Graeme Billings retired after 12 years as Non-Executive Director, with Fiona Pearce appointed as new Audit and Risk Chair and elected as Non-Executive Director.

• Dr. Simon Green re-elected as Non-Executive Director, both he and Fiona Pearce bring strong governance and sector experience.

• Innovation and Development Committee highlighted as key to R&D prioritization and oversight.