Adairs (ADH) AGM 2025 summary

Opening remarks and agenda

• Meeting commenced at 11:15 A.M. with a quorum present; agenda included CEO and financial reports, voting, and Q&A.

• Chair Trent Peterson and CEO Elle Roseby presented reports outlining the meeting's agenda and strategic direction.

• Board and leadership team introduced, including new directors and key executives; intention to appoint another independent director in the next 12 months.

• Auditor and share registry representatives present; voting to be conducted by poll, with results released to the ASX after tallying.

Board and executive committee updates

• Significant board and leadership renewal over the past two years, with plans to appoint an additional independent non-executive director in FY26.

• Rachel Kelly was elected as a new director, and Trent Peterson was re-elected.

• Board described as highly engaged and collaborative, with new members making notable contributions.

Financial performance review

• FY 2025 group sales reached AUD 618.1 million, up 6.5% year-on-year; underlying EBIT rose 1.4% to AUD 55.2 million.

• Adairs brand sales grew 9.5% to AUD 442.2 million, with EBIT up 21.2%; Focus on Furniture sales declined 6.5%, EBIT down 36.6%; Mocka sales up 14.7%, EBIT up 21.1%.

• Statutory EPS was AUD 0.146; dividends paid at AUD 0.105 per share, a 72% payout ratio.

• H1 FY26 sales guidance is $324.5m–$336.5m, with gross margin guidance of 58.8%–59.6%.