Fluence (FLC) AGM 2026 summary

Opening remarks and agenda

• Senior executives, directors, and auditors were introduced, and meeting procedures for virtual participation, Q&A, and voting were outlined.

• The agenda included a business presentation, Q&A sessions, and formal consideration of resolutions by poll.

• Emphasized the company's position as a leading provider of water and wastewater treatment systems with a focus on sustainable solutions.

Financial performance review

• Fiscal 2025 revenue grew 52.3% to $78.4M, with EBITDA rising by $8M to $4.0M and operating cash flow reaching $10.9M.

• Gross margins improved by nearly 7% since FY2022, and SG&A costs were reduced by 25%.

• Backlog increased by 44% to $75M, with record new order bookings of $24.5M in FY2025 and strong performance in all business units.

• All business units reported EBITDA growth, and Q1 2026 saw a 39.1% EBITDA increase over Q1 2025.

• The Ivory Coast project is in a significant cash surplus, with 73% of milestone payments collected and O&M contract negotiations underway.

Board and executive committee updates

• Leadership was substantially rebuilt over the past three years, with a new CEO, CFO, and other key executives bringing over 100 years of industry experience.

• CEO and Managing Director appointed in December 2025, with a new CFO and VP for SEA & China enhancing leadership.

• Board Chairman with significant industry experience led strategic direction.

• Board members, including Nikolaus Oldendorff and Paul Donnelly, were up for re-election, with Donnelly clarifying his independent role.