Kelsian Group (KLS) AGM 2025 summary

Opening remarks and agenda

• New Group CEO Graeme Legh introduced, with predecessor continuing in a strategic advisory role; Chair Fiona Hele and Legh addressed shareholders at the 2025 AGM in Adelaide.

• Agenda covered financial results, strategic and operational highlights, divisional performance, and outlook.

Financial performance review

• FY25 underlying EBITDA reached AUD 285 million, up 7.4%, with revenue up 9.5% to AUD 2,208.9 million; EBIT rose 11.4% to AUD 136 million.

• EPS before amortisation increased 2.2% to 35 cents per share; NPATA up 2.4% to AUD 94.8 million.

• Net operating cash flow rose 39.9% to AUD 205.2 million, with leverage reduced to 2.7x underlying EBITDA.

• All divisions delivered growth in revenue, EBITDA, and EBIT, supported by contract renewals and cost indexation.

• CapEx for FY25 was AUD 165.1 million, below guidance due to timing delays; FY26 CapEx expected at AUD 128 million.

Board and executive committee updates

• Leadership transition to Graeme Legh as CEO, with Brent Maitland as CEO of AAAAHI; board includes independent and non-executive directors, Andrew Muir as CFO, and Joanne McDonald as Group Chief Legal and Risk Officer.

• Management remuneration structure revised to align with new capital management targets.

• EY serves as the external auditor.