Green Cross Health (GXH) AGM 2025 summary

Opening remarks and agenda

• Meeting held online for the first time to increase accessibility and engagement for shareholders outside Auckland.

• Chair and Group CEO delivered addresses, followed by resolutions, voting, and a general Q&A session.

• Technical instructions for participation and voting were provided, and a quorum was confirmed.

• Agenda included board re-elections, director fee pool increase, and auditor remuneration.

Financial performance review

• Operating revenue rose 4% to $523.8m, driven by acquisitions and strong pharmacy dispensary performance.

• Operating profit increased to $38.7m, with net profit after tax rising to $16.0m and EPS at 11.1 cps.

• Gearing ratio reduced to 11.9%, with $42m undrawn facilities, $52.6m positive cash flow, and net cash position of $1.8m.

• Investments included $7.3m in equity, refurbishments, and technology; $12.1m in debt repaid.

• Medical division revenue up 9%, with 65 centers and improved EBIT margins to 12.7%.

Board and executive committee updates

• Caroline Steele announced her resignation due to increased governance responsibilities; search for replacement underway.

• Board includes independent and non-executive directors; Group CEO and CFO/Company Secretary introduced.

• Directors seeking re-election spoke in support of their candidacy, highlighting experience and commitment.