Bravura Solutions (BVS) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with a welcome and confirmation of quorum, held both in-person and virtually.

• Chair introduced board members, CEO, company secretary, and auditor, and outlined the agenda, including CEO's address and formal business.

• Chairman Matthew Quinn opened the meeting, outlining the agenda including the Chairman's address, CEO update, formal business, and Q&A session.

Financial performance review

• FY24 saw a significant turnaround, returning to profitability and exceeding market guidance, with EBITDA of AUD 25.8 million, Cash EBITDA of AUD 10 million, and revenue of AUD 250.4 million.

• FY25 guidance targets EBITDA of AUD 36–40 million, Cash EBITDA of AUD 28–32 million, and gross revenue of AUD 235–240 million, with Q1 on track.

• Business transformation efforts have rebuilt foundations, positioning for future revenue growth and client base expansion.

• Company now generates significant cash profits and expects to recommence dividend payments in due course.

Strategic initiatives and plans

• Strategy focuses on client engagement, margin improvement, and employee engagement, with emphasis on EMEA/APAC markets and technology improvement.

• Four strategic pillars: EMEA/APAC market focus, technology improvement, client growth, and building a high-quality tech business.

• All FY24 expiring contracts renewed with improved economics; focus on building a high-performance culture and delivering high-value, consistent services.

• FY25 focus includes deepening client relationships and growing the revenue pipeline.