Winton Land (WTN) AGM 2025 summary

Opening remarks and agenda

• Meeting opened virtually with instructions for online participation and voting, with Chair and CEO addressing shareholders and outlining the agenda and key business highlights.

• Board members, senior management, auditors, legal counsel, and share registrar representatives introduced.

• Notice of meeting confirmed sent, quorum present, and meeting formally declared open.

• Proxies appointed for over 83% of shares; six resolutions to be considered, followed by Q&A.

Financial performance review

• FY 2025 revenue was $155.4 million, down 10.5% from FY 2024, with 266 units settled.

• Net profit after tax was $10.3 million, down from $15.7 million in the prior year; gross profit was $59.5 million and cash position $20.3 million.

• Commercial revenue increased by $13.7 million, mainly from a full year of Ayrburn trading.

• Fair value gain of $5.1 million from revaluation of commercial assets and retirement land, reversing a prior year loss.

• Administrative and employee expenses rose due to business growth, while selling expenses decreased by 26.3%.

Strategic initiatives and plans

• Sunfield project and Ayrburn Screen Hub accepted into the Fast Track Approvals Act 2024 process.

• Ayrburn Screen Hub planned as a film studio, expected to generate recurring income.

• Residential and commercial development progress at Lakeside Te Kauwhata, Northbrook Wānaka, Northridge in Cessnock, and Cracker Bay.

• Northbrook Wānaka Stage 1 opened, with revenue from deferred management and service fees commencing.

• Focus for FY 2026 on visitor growth, operational efficiencies, event pipeline at Ayrburn, and disciplined growth in buoyant markets.