Hallenstein Glasson (HLG) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum and explanation of procedures for both in-person and virtual attendees.

• Online and in-person voting processes were outlined, with results to be posted on the NZX.

• Board and executive team members were introduced, and the agenda and notice of meeting were confirmed.

Financial performance review

• Group sales for the year ended 1 August 2025 reached NZD 470.7 million, up 8.1% from the prior year.

• Gross margin held steady at 59.3% despite challenging exchange rates.

• Net profit after tax was NZD 39.5 million, a 14.4% increase year-on-year.

• Glassons Australia sales rose 15.3% to AUD 251.5 million, with net profit before tax up 16.1%.

• Glassons New Zealand sales increased 1.7% to NZD 111.9 million, with net profit after tax up 27.4%.

• Hallensteins turnover was NZD 107.3 million, flat year-on-year, with net profit before tax down 36.4%.

• E-commerce sales grew 6.7%, now representing 18% of group revenue.

Board and executive committee updates

• Board elections included reappointments and introductions of directors with diverse expertise in finance, sourcing, and law.

• Directors highlighted their backgrounds and commitment to governance and operational oversight.