Delegat Group (DGL) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened with confirmation of a quorum and a welcome to both in-person and online attendees, marking the 20th AGM since listing in 2006.

• Shareholders were informed about the online participation process, including Q&A and voting procedures.

• The notice of meeting and annual report were taken as read, and the agenda included a review of financials, strategic goals, and formal resolutions.

• Meeting agenda included addresses from the Chair and CEO, shareholder Q&A, voting on resolutions, and general business.

Financial performance review

• Operating net profit after tax for 2025 was NZD 51.1 million, achieved despite global market challenges.

• Reported net profit after tax of NZD 49 million was 56% higher than the previous year, mainly due to accounting adjustments and non-recurring tax changes.

• Global sales reached 3,188,000 cases, a 12% decline, attributed to U.S. tariffs and industry-wide export volume drops.

• Revenue was $346.2 million, down 7% year-on-year.

• Record operating cash flows of NZD 105.7 million enabled repayment of NZD 31.5 million in debt, with cash from operations up 86%.

Board and executive committee updates

• Murray Annabell was introduced as the new CEO, reflecting on 20 years with the company and outlining leadership continuity.

• Chair Jim Delegat and CEO Murray Annabell delivered addresses, joined by other board members and the CFO.

• Gordon MacLeod, Director and Audit and Risk Committee Chair, was absent due to health but stood for re-election.