Generation Development Group (GDG) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional land owners, and outlined hybrid meeting format and procedures for questions and voting.

• Instructions provided for online participation, including question submission and voting process.

• Board members, management, and advisors introduced; agenda included performance review and voting on resolutions.

• Chairman Rob Coombe and CEO Grant Hackett led the meeting, highlighting FY24 achievements and expressing gratitude to shareholders for ongoing support.

Financial performance review

• FY24 saw record growth in key business metrics, with strong inflows and increased brand awareness.

• Funds under management reached AUD 3.6 billion, up 9% in three months and 26% year-on-year; Lonsec Investment Solutions FUM at AUD 11.7 billion, up 29% over 12 months.

• Underlying group profitability up 55% to AUD 11.2 million; investment bond sales hit AUD 657 million, up 28%.

• Revenue up 21% to AUD 48.5 million; underlying NPAT up 55%.

• Unprompted brand awareness rose from 27% to 33%; TSR increased 109% year-on-year.

Board and executive committee updates

• Christine Christian joined the board, bringing extensive financial services experience.

• Board size increased from three to five to match company growth and complexity.

• Board includes Rob Coombe (Chairman), William Bessemer, Giselle Collins, Christine Christian, CEO Grant Hackett, CFO Terence Wong, and Company Secretary Amanda Gawne.