EROAD (ERD) AGM 2025 summary

Opening remarks and agenda

• Chair Susan Paterson opened the meeting, outlining the agenda: Chair's address, executive update, review of financial statements and auditor's report, four resolutions, and a Q&A session.

• Voting on all resolutions was conducted by poll, with online and in-person participation enabled.

Financial performance review

• FY 2025 marked a return to profitability, with revenue up 6.8% to NZD 194.4 million and ARR rising 6.1% to NZD 175.1 million.

• Free cash flow reached NZD 16 million, normalised to NZD 23.6 million after adjusting for the 4G upgrade.

• Normalised EBIT was NZD 9.9 million, up from NZD 3.8 million in FY24.

• Achieved growth despite industry headwinds, with a 4% increase in distance captured on the platform versus a flat market.

• Customer ROI initiatives delivered significant savings, representing over 78% of total NZ revenue.

Board and executive committee updates

• John Scott appointed as independent director, bringing global product and technology leadership experience.

• Board comprises Susan Paterson (Chair), Barry Einsig, David Green, Cameron Kinloch, Sara Gifford, and John Scott, with various committee memberships.

• Selwyn Pellett, founder of Coretex, retired from the board.

• Board renewal and executive leadership highlighted as key to the company’s transformation.