Alliance Aviation Services (AQZ) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees, outlined housekeeping, and confirmed all shareholders could comment on resolutions.

• Directors, management, auditors, and company secretary were introduced; quorum confirmed and meeting officially opened.

• Chair acknowledged recent Board and management changes, emphasizing a commitment to transparency and improved performance.

• Focus on near-term initiatives: optimizing core business, strengthening the balance sheet, and renegotiating key contracts.

Financial performance review

• FY25 revenue reached AUD 769.7M, up 19% YoY; EBITDA AUD 207.3M (up 16.2%); profit before tax AUD 82.1M (down 4.9% YoY) due to rising costs and depreciation.

• Net debt at AUD 436M, forecast to reduce to AUD 392M by year-end; total assets AUD 1.2B, net tangible assets AUD 473M.

• Asset portfolio independently valued at over AUD 900M; aircraft assets AUD 841M.

• Operating cash flow was AUD 105.6M, down 3.4% from the prior year.

Board and executive committee updates

• Significant board renewal: new Chair, Bernie Campbell, Simon Lange, and Stewart Tully (Managing Director) joined in 2024/2025; Jason Corman to join pending checks.

• Scott McMillan resigned as Managing Director; Andrew Evans stepped down as CFO, replaced by interim CFO Simon Vitulo; permanent CFO recruitment underway.

• Directors and executives confirmed personal shareholdings, with most purchasing shares on the open market.

• Board focused on enhancing performance and market transparency.