Inghams Group (ING) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional landowners, a welcome to shareholders, and an outline of the hybrid format and agenda, including addresses, formal business, and Q&A.

• Chair and CEO delivered addresses covering financial results, safety, ESG, CEO succession, and board updates.

• Voting conducted by poll, with instructions for both in-person and virtual attendees; technical contingencies addressed.

• Board and executive team introduced, including new CEO Ed Alexander and external auditor from KPMG.

Financial performance review

• Underlying EBITDA pre-AASB 16 for FY25 was AUD 236.4 million, up 0.04% from FY24, while statutory net profit after tax fell 2.9% to AUD 97.2 million.

• Group revenue totaled AUD 3,152.4 million, a 1.5% decrease from FY24, with Australian volumes down and New Zealand showing strong growth.

• FY25 core poultry volume was 461.2KT, down 1.4% from FY24.

• Dividends for FY25 were AUD 0.19 per share, one cent lower than the prior year, with a payout ratio of 72.7%.

• Share price declined approximately 33% after a softer FY26 earnings outlook was released, reflecting operational and market challenges.

Board and executive committee updates

• CEO transition from Andrew Reeves to Ed Alexander, with the latter credited for strong performance in New Zealand.

• Leadership team refreshed with new organizational structure and key executive appointments.

• No changes to board composition in FY25 aside from CEO; Rob Gordon and Tim Longstaff stood for re-election.

• Board roles and committee memberships detailed, including chairs for risk, audit, and remuneration.