Wagners Holding Company (WGN) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with a welcome to shareholders attending both in person and online, confirming a quorum was present.

• Introduction of board members, executive team, auditors, and legal advisers.

• Explanation of meeting procedures, including Q&A and voting processes, with voting conducted by poll.

Financial performance review

• FY24 saw improved results, with revenue of AUD 481 million, operating EBIT of AUD 40 million, and net profit after tax of AUD 10 million.

• Construction materials business showed better performance due to operational efficiencies and favorable market conditions.

• South East Queensland construction materials delivered AUD 216 million in revenue and AUD 32 million EBIT.

• Composite Fibre Technologies business had mixed results, with positive signs for FY25 and improved margins in Australia.

• CFT USA reported a AUD 4.2 million loss, but losses have reduced significantly in early FY25.

Board and executive committee updates

• Lynda O'Grady did not seek reappointment; her contributions since 2017 were acknowledged.

• John Dignam appointed as Executive Director to drive composites business growth.