Cochlear (COH) AGM 2024 summary

Opening remarks and agenda

• The meeting was opened by the Chair, acknowledging traditional custodians and welcoming shareholders both in person and online.

• Meeting procedures, voting, and Q&A protocols were outlined, with polling open throughout and results to be released to the ASX.

Financial performance review

• Achieved record sales revenue of AUD 2.3 billion, up 12% in constant currency, and underlying net profit of AUD 387 million, up 15% in constant currency.

• Dividends increased by 24%, with a payout ratio of 69% of underlying net profit.

• Net cash exceeded AUD 500 million, supporting investments and capital expenditure.

• FY25 guidance targets underlying net profit growth of 6–11%.

Board and executive committee updates

• Board renewal continued, with Caroline Clarke appointed and Yasmin Allen retiring.

• Female representation on the board rose to 44%.

• Directors standing for re-election included Alison Deans, Glen Boreham, and Christine McLoughlin; Caroline Clarke stood for election.