CSL (CSL) AGM 2024 summary

Opening remarks and agenda

• The meeting was held in a hybrid format, with both in-person and remote participation options, and included procedural instructions for voting and Q&A.

• Chair Brian McNamee and Company Secretary Fiona Mead welcomed attendees and outlined the meeting's structure, including online participation and Q&A procedures.

• The agenda included board introductions, a business and performance review, formal business items, and a Q&A session.

Financial performance review

• Revenue reached US$14.8 billion, up 11% at constant currency; NPATA was US$3 billion, up 15%; net profit after tax up 25%.

• Gross profit rose to US$8 billion, maintaining a gross margin above 54%.

• Net profit after tax for FY2024 was $2.64 billion, with a final dividend of $2.64 per share.

• R&D investment reached US$1.4 billion, up 12% year-on-year; R&D costs at 12% of sales.

• Capital expenditure for property, plant, and equipment showed a 31% reduction in FY24.

Board and executive committee updates

• Two new non-executive directors, Samantha Lewis and Elaine Sorg, joined the board in 2024; Dr. Brian Daniels to join in December.

• Professor Duncan Maskell will retire from the board at the end of the meeting.

• Board comprises a diverse group of non-executive directors and the CEO, Paul McKenzie.

• CEO Paul McKenzie addressed strategic progress and operational highlights.

• The board emphasized the need for global talent and skills in risk management, science, digital, and cybersecurity.