Aussie Broadband (ABB) AGM 2024 summary

Opening remarks and agenda

• Meeting opened at 10:30 A.M. with a quorum present and acknowledgment of Traditional Owners.

• Shareholders could participate in person or online, with voting open during the meeting and for five minutes after closure.

• Chair Adrian Fitzpatrick and Group Managing Director Phillip Britt delivered opening addresses, setting the tone and outlining the agenda.

• Agenda included addresses from the Chair, Group Managing Director, and CFO, review of financial statements, and ten resolutions.

Financial performance review

• FY24 revenue reached $999.7m, up 26.9%, with underlying EBITDA at $120.5m, up 34.5%.

• Residential revenue now 56% of total, down from 87% at listing, reflecting diversification.

• Net profit after tax before intangible amortization rose to AUD 45 million, up 20.3%.

• Net profit after tax increased 21.7% to $26.4m.

• Cash balance at year-end was AUD 213.5 million, supporting ongoing investment and flexibility.

Board and executive committee updates

• Sue Klose joined as Non-Executive Director in February, bringing digital and growth expertise.

• Dr. Richard Dammery stepped down; Nominations Committee to seek an independent replacement and focus on board renewal and diversity.

• CTO John Reisinger retiring; Brad Parker to assume CTO role.