Civmec (ASX:CVL) AGM 2024 summary

Opening remarks and agenda

• AGM conducted both physically and via live webcast, with introductions of directors and management, including new incoming directors and acknowledgment of retiring independent directors.

Financial performance review

• Achieved over AUD 1 billion in revenue for 2024, with strong EBITDA of AUD 120.8 million and net profit of AUD 64.4 million.

• Q1 FY25 saw revenue of AUD 262.7 million, EBITDA of 29.2 million, and net profit of 15.2 million.

• Dividend increased by 20% to 6 cents per share, reflecting robust financial health.

• Order book remains above AUD 800 million, with a strong pipeline of over AUD 10 billion in pricing opportunities.

Board and executive committee updates

• Introduction of new directors: Gary Gray, Ong Beng Hong, and Ambrose Law.

• Farewell to retiring directors Stephen Chong, Sunny Wong, and Doug Chester, recognized for their contributions since 2012.

• Appointment of Bojan Ceka as new CFO.