MOVE Logistics Group (MOV) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum, welcomes, and acknowledgment of shareholders' support, followed by Chair and CEO presentations.

• Notice of meeting and agenda taken as read; presentations by Chair and CEO scheduled.

• Shareholders could participate in person or online, with Q&A and voting facilitated.

Financial performance review

• FY25 revenue was $286.3m, down 2.6% year-on-year, but gross margin rose 13.4% to $83.5m, reaching a two-year high.

• Normalised EBT improved by 61.1% to $(10.0)m, with normalized earnings up over 80% in the first quarter.

• Operating costs reduced by NZD 27 million in FY25 and a further NZD 3 million in Q1 FY26; positive net adjusted operating cashflow achieved.

• Q4 FY25 delivered the strongest quarterly earnings in two years.

• Q1 FY26 saw further margin and earnings uplift despite revenue decline.

Board and executive committee updates

• Board size maintained at five directors, with recruitment paused during business transformation.

• Julia Raue appointed Chair in June 2024; Lachie Johnstone and Greg Whitham elected as directors in October 2024.

• Paul Millward confirmed as CEO in August 2024, bringing new energy and strengthening the leadership team.

• Senior executives introduced, highlighting expertise across business units.

• Board priorities for FY25 included business transformation, leadership strengthening, and capital management.