Rubicon Water (RWL) AGM 2024 summary

Opening remarks and agenda

• Meeting commenced with confirmation of quorum, introduction of directors, auditors, CFO, and company secretary, and was chaired by Gordon Dickinson with CEO Bruce Rodgerson presenting.

• Commitment to addressing global water scarcity and advancing agricultural efficiency was reiterated.

• Meeting held on 28 November 2024.

Financial performance review

• Revenue reached $58.4m, a 5.8% increase over the prior corresponding period.

• Underlying EBITDA was $5.4m, compared to $8.8m in the previous year.

• US market achieved record orders of $33 million, a 200% year-on-year increase.

• Largest Latin American contract since 2012 secured in Costa Rica, valued at $2.5m.

• Positive operating cash flows reported, including $5.1 million in aged debtors' receipts.

Board and executive committee updates

• Board includes several independent directors representing all shareholders.

• Board and key management personnel participated in the capital raise, demonstrating commitment to growth.

• Tony Morganti and Lynda O'Grady, chairs of audit/risk and remuneration committees, stood for re-election.