EROAD (ERD) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders, outlined the agenda, and encouraged participation both in-person and online.

• Chair Susan Paterson opened the meeting, followed by addresses from the Co-Chief Executive Officers and a review of financial statements and auditor's report. The agenda included resolutions and a shareholder Q&A session.

• Meeting included executive updates, four resolutions, and a Q&A session.

Financial performance review

• FY 2025 marked a significant turnaround, with a return to profitability and NZD 16 million in free cash flow, normalised to NZD 23.6 million after adjusting for the 4G upgrade.

• Revenue grew 6.8% to NZD 194.4 million; annual recurring revenue rose 6.1% to NZD 175.1 million.

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

• Company outperformed industry trends, capturing 56% of NZ heavy vehicle road user charge kilometres.

• 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 tech and product innovation experience.

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

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

• Board and executive renewal highlighted as part of the company’s decade-long growth.