Smartgroup (SIQ) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians, introduction of board members, and executive team, with addresses from Chair and CEO outlining strategic direction.

• AGM broadcast nationally with a video webcast option for remote shareholders.

• Agenda included a 2024 recap, trading update, and resolutions.

• Chair reflected on first year in the role and ongoing review of board composition.

Financial performance review

• Revenue reached AUD 305.8 million in CY 2024, up 22% year-on-year; EBITDA AUD 118.7 million, NPATA AUD 72.4 million, and statutory net profit AUD 75.6 million.

• Operating cash flow conversion was 108%, with strong cash flow maintained.

• Novated leases under management increased 22% to 24,300 vehicles; salary packaging customers rose 12% to 404,000.

• Market capitalization grew to approximately AUD 1.1 billion as of April 2025, up from ~$160 million at IPO.

• Over 785% total shareholder return since IPO; return on equity ranged from 23.8% to 28.8% over five years.

Board and executive committee updates

• Board comprises Chair John Prendiville, CEO Scott Wharton, and five non-executive directors.

• Board composition and skills mix under ongoing review to guide future strategy.

• Carolyn Colley and Anne McDonald offered themselves for re-election, highlighting governance, innovation, and finance expertise.