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Reece (REH) investor relations material
Reece AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2025 summary20 Nov, 2025
Opening remarks and agenda
Meeting opened with a quorum, introduction of board members, committee chairs, and audit partners present.
Procedures for online participation, voting, and Q&A were outlined, with all resolutions decided by poll.
Chair and CEO Peter Wilson addressed the meeting, outlining the company's long-term growth story and strategic focus.
Financial performance review
FY25 group sales declined 1% to AUD 9 billion; EBITDA down 11% to AUD 901 million, and EBIT down 20% to AUD 548 million.
Net profit after tax (NPAT) was AUD 317 million, down 24% from the prior year.
CapEx to sales ratio was 2.9%; return on capital ratio decreased by 365 basis points to 11.8%.
Q1 FY26 saw 8% sales growth driven by network expansion, but EBITDA declined 8% and EBIT was down 18%.
ANZ sales grew 1% to AUD 3.9 billion; US sales fell 5% in AUD, with currency effects impacting results.
Board and executive committee updates
Board reshaped with retirements and new appointments: Angela Mantas, Gavin Street, and Jacqueline Chow joined.
Ongoing search for a lead independent director to ensure balanced governance for minority shareholders.
Chairman Emeritus role established for Alan Wilson, focusing on culture and advisory.
US business: Key metrics for long-term success?
Remuneration: What further changes are planned?
How will Board ensure minority shareholder voice?
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Next Reece earnings date
H1 202622 Feb, 2026
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Frequently asked questions
Reece Limited is an Australian distributor of plumbing, bathroom, heating, cooling, and related building products. The company operates through a network of branches and showrooms, serving trade professionals and commercial clients across Australia, New Zealand, and the United States. Its product range supports residential, commercial, and infrastructure projects. Reece Limited is headquartered in Melbourne, Australia, and its shares are listed on the ASX.
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