Cedar Woods Properties (CWP) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land and a welcome to shareholders both in person and online.

• Chairman William Hames and Managing Director Nathan Blackburne delivered addresses, followed by formal business and shareholder questions.

• Agenda included a strategy recap, financial performance review, business update, project highlights, market conditions, outlook, financial report consideration, director re-elections, remuneration report, equity incentives, and auditor change.

• Voting on all resolutions conducted by poll, with questions accepted in writing, via the online platform, and following formal business.

Financial performance review

• Net profit after tax for FY24 was AUD 40.5 million, up 28%, with revenue of AUD 386.3 million from 1,140 settlements.

• Earnings per share rose 28% to AUD 0.492.

• Pre-sale contracts valued at AUD 560 million as of September/Q1 FY25, supporting revenue for 2025 and 2026.

• Contracted sales doubled to 1,201 lots, homes, or offices compared to the previous year.

• Return on equity reached 8.8% for FY24.

Board and executive committee updates

• Board and executive team introduced, with directors present in person and via telephone.

• William G. Hames and Paul G. Say stood for re-election as directors, both unanimously supported by the board.

• Managing Director Nathan Blackburne received approval for equity incentives.