Ventia Services Group (VNT) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees, acknowledged traditional custodians in Australia and manawhenua in New Zealand, and outlined virtual meeting procedures.

• Notice of meeting, procedural items, and support for virtual AGM provided; meeting declared open with a quorum present and all resolutions to be decided by poll.

• Shareholders encouraged to ask questions and participate in real time via online or phone platforms.

Financial performance review

• FY24 revenue increased by 7.6% to AUD 6.1 billion, EBITDA rose 7.3% to AUD 499.3 million, and NPATA grew 12.8% to AUD 227.9 million.

• Cash conversion rate reached 91.4%, up 2.6ppt on FY23; contract renewal rate hit 92%.

• Group revenue has grown 34% since 2021, with EBITDA up 31% and NPATA up 55%; margins steady at 8.2%.

• Work in hand rose 6.7% to AUD 19.4 billion, the highest since listing.

• Sector performance: Defence & Social Infrastructure revenue up 9.4%, Telecommunications up 14.6%, Infrastructure Services up 0.8%, Transport down 0.7%.

Board and executive committee updates

• Board introduced, including Chairman David Moffatt, CEO Dean Banks, five independent non-executive directors, and company secretary.

• Chairman David Moffatt stood for and was re-elected as Director, highlighting experience and commitment to company values.

• Remuneration Committee Chair detailed executive pay structure and outcomes.