Nufarm (NUF) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional owners and confirmation of quorum.

• Hybrid format enabled both in-person and online participation, with clear instructions for questions and voting.

• Board members, executive team, auditor, and returning officer introduced.

Financial performance review

• FY24 was challenging due to industry-wide inventory backlogs and heightened competition, resulting in lower EBIT and a statutory net loss.

• Net debt reduced by 25% year-on-year, with net leverage at 2x EBITDA.

• Strong growth in Asia and new product introductions contributed over 15% of revenue.

• Omega-3 canola revenue reached AUD 50 million, with improved yield and oil profile.

• Cost-saving and inventory reduction initiatives are on track, targeting AUD 50 million in annualized savings and a 25-day reduction in inventory by FY25.

Board and executive committee updates

• Welcomed new CFO Brendan Ryan and highlighted board's commitment to shareholder value.

• David Jones stood for re-election, emphasizing innovation and board expertise in crop protection and seeds.