SGH (SGH) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum and overview of SGH's market position and disciplined operating model.

• Chairman Terry Davis and MD & CEO Ryan Stokes AO addressed the AGM on 14th November 2024, outlining the company's performance and strategic direction.

Financial performance review

• Achieved 18% compound annual EBIT growth and top decile shareholder returns over the past decade, with high single-digit EBIT growth expected in FY25.

• FY24 dividends increased by 30% to AUD 0.30 per share in the second half, totaling AUD 0.53 fully franked for the year.

• Outperformed ASX 100 by over 600% in total shareholder return over the past 10 years, with market capitalisation at $17 billion.

• Strong cash flow generation and disciplined capital allocation underpin ongoing value creation.

Board and executive committee updates

• Richard Uechtritz retired after 14 years; Mark Johnson appointed and stands for election.

• Board comprises experienced directors: Terry Davis, Ryan Stokes AO, Rachel Argaman OAM, Annabelle Chaplain AM, Kate Farrar, Mark Johnson, Chris Mackay, David McEvoy, and Warwick Smith AO.