Domain Australia (DHG) AGM 2024 summary

Opening remarks and agenda

• Chairman welcomed attendees, acknowledged traditional landowners, and outlined safety and participation procedures for both in-person and virtual attendees.

• Chairman Nick Falloon opened the meeting, outlining the agenda and strategic focus for FY24 and beyond.

• Meeting agenda included voting instructions, Chairman's address, CEO business review, and formal resolutions.

Financial performance review

• FY24 revenue reached AUD 391.1 million, up 13.1% year-on-year, with EBITDA of AUD 137.1 million, a 26.2% increase.

• Earnings per share rose 27.8% to AUD 0.078; total dividend maintained at AUD 0.06 per share.

• Net debt stood at AUD 150.8 million, with a leverage ratio of 1.1x EBITDA.

• Statutory net profit attributable to members was AUD 42.4 million, after significant items and discontinued operations.

Board and executive committee updates

• CEO Jason Pellegrino announced his departure after six years, with a transition period of 3–6 months; a search for his successor is underway.

• CEO Jason Pellegrino presented a business review, highlighting six years of Marketplace strategy and margin improvements.

• Matt Stanton and Mickie Rosen were introduced as new board members, with Rebecca Haagsma stepping down.

• Board highlighted improved company culture and strong leadership succession planning.

• Discontinued low-margin businesses, increasing high-margin revenues by 60% since FY18.