Asmodee Group (ASMDEE) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened with a welcome, safety instructions, and agreement to conduct proceedings in English, followed by the election of the chair and approval of the agenda and voting list.

• The chair and voting procedures were established, with 64.37% of capital and 72.71% of votes represented.

Board and executive committee updates

• The board focused on preparing for independent listing, establishing governance structures, and forming audit and remuneration committees.

• Twelve board meetings and several committee meetings were held, focusing on governance, Nasdaq compliance, and strengthening board processes.

• Eugene Evans was elected as a new independent director, bringing digital gaming experience, and committee compositions were confirmed.

Financial performance review

• Net sales reached €1.4 billion, up €100 million from last year, with 7.7% organic growth and 130 million units shipped.

• Adjusted EBITDA was €228 million (16.7% margin), and free cash flow was €197 million with an 86% conversion rate.

• Strong cash position with €286.4 million in cash and a net debt/EBITDA ratio of 2.3x after M&A commitments.

• No dividend proposed for 2024-25, with excess liquidity distribution contingent on net debt/EBITDA below 2x.