Cochlear (COH) AGM 2025 summary

Opening remarks and agenda

• Meeting logistics included reminders on voting rights, question procedures, and safety protocols.

• Shareholders could participate in person or online, with moderated Q&A to maximize engagement.

• Voting was conducted by poll, with results to be released to the ASX post-meeting.

Financial performance review

• Sales reached $2.4 billion, up 3% in constant currency, with strong implant growth but a decline in services revenue.

• Underlying net profit rose 1% to $392 million, within updated guidance.

• Full-year dividends increased by 5%, with a payout ratio of 72% of underlying profit.

• FY26 guidance expects underlying net profit to increase by 11%-17% over FY25.

Board and executive committee updates

• Glen Boreham retired from the board; Richard Freudenstein joined and stood for election.

• Board renewal emphasized diversity, expertise, and continuity.

• Directors standing for (re)election highlighted their backgrounds and commitment to governance and strategy.