Metcash (MTS) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional custodians, and confirmed quorum for the meeting.

• Board and executive team members were introduced, including new directors and management changes.

• Outlined meeting agenda: review of FY25 performance, board changes, strategy, remuneration, ESG, and voting on resolutions.

Financial performance review

• Group revenue rose 7.2% to AUD 19.5B (including charge-through sales); revenue up 8.9% to AUD 17.3B (excluding charge-through).

• Group EBITDA increased 8.6% to AUD 747.8M; EBIT up 2.3% to AUD 507.8M.

• Reported profit after tax grew 10% to AUD 283.3M; underlying profit after tax declined 2.4% to AUD 275M.

• Operating cash flow up 11.7% to AUD 539M; cash realization ratio at 95%, above guidance.

• Total dividends for the year were AUD 0.18 per share, fully franked, slightly above the 70% payout target.

Board and executive committee updates

• Several board renewals: David Whittle and Marina Go joined as non-executive directors.

• Murray Jordan to retire after nearly 10 years; search for a new director is advanced.

• Scott Marshall returned as CEO of the hardware group and was later appointed CEO of the merged Total Tools and Hardware Group.

• Remuneration changes: increased STI deferral and LTI opportunity for CEO and CFO, with further shifts to LTI in FY26.