Arvida Group (ARV) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, introduced directors, executives, and advisors, and outlined the hybrid meeting format and agenda, including the scheme and annual meetings.

• Voting procedures and Q&A protocols for both in-person and online participants were explained.

Financial performance review

• FY2024 profit was NZD 139 million, with underlying profit at NZD 85 million, down 2-3% due to higher interest costs.

• Record sales achieved: NZD 427 million in gross value, 11% more units settled, and operating EBITDA up 14%.

• Total assets rose to NZD 4.2 billion; gearing increased to 34% but remained the lowest among listed peers.

• 201 new units delivered; development program reduced to preserve funding headroom.

Board and executive committee updates

• Board succession planning was paused pending the scheme outcome; will accelerate if the scheme does not proceed.

• Directors acknowledged for significant commitment during the value recognition and Stonepeak proposal processes.