Brambles (BXB) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, confirmed quorum, introduced directors, and outlined meeting procedures and agenda, including safety instructions and Q&A process for both in-person and online shareholders.

• The Chair and CEO delivered their respective addresses to shareholders.

Financial performance review

• Achieved strong sales revenue growth, significant operating leverage, and a $385 million increase in free cash flow before dividends.

• Free cash flow before dividends reached $882.8 million, and ROCE improved to 20.6%.

• FY 2024 sales revenue grew 7% (constant currency), with underlying profit up 17% and operating leverage offsetting higher costs.

• FY 2025 outlook reconfirmed: sales revenue growth 4%-6%, profit growth 8%-11%, and free cash flow $750–$850 million.

• Financial, Directors', and Auditors' Reports for the year ended 30 June 2024 were presented for consideration and receipt.

Board and executive committee updates

• Scott Perkins and George El Zoghbi retired; Cameron McIntyre and Tony Palmer appointed to the board, enhancing skills in finance, digital, and manufacturing.

• Board renewal and gratitude expressed for outgoing and incoming members' contributions.

• Shareholders voted on the re-election of Ms Elizabeth Fagan to the Board.