Freightways Group (FRW) AGM 2026 summary

Opening remarks and agenda

• Chair declared a quorum and opened the hybrid meeting; the agenda covered FY26 highlights, the CEO strategy and trading update, shareholder questions and formal resolutions.

• Resolutions were to be decided by poll, with Computershare scrutinizing votes and results scheduled for release to NZX and ASX later that day.

Financial performance review

• FY26 revenue rose 13.5% to NZD 1,463.6m, or 11% excluding VTFE; EBITA increased 14.6% to NZD 181.6m and NPAT rose 17.3% to NZD 94m.

• FY26 operating cash flow rose 14.9% to NZD 279.4m and basic EPS increased 17.2% to 52.4c; net debt/EBITDA was 2.4x.

• Australia’s share of FY26 revenue rose to 39% from 36%, and its EBITA share to 38% from 34%.

• Q1 FY27 unaudited revenue rose 17.6% to NZD 408.3m, EBITA 12.9% to NZD 50.0m and NPAT 12.0% to NZD 26.2m YoY; growth reflected fuel recovery and VTFE’s addition.

• Q1 FY27 IM EBITA rose 17.5% to NZD 9.4m and margin improved 150 bps to 14.7%; EP & BM EBITA grew 9.9% to NZD 42.1m while margin fell to 12.2% from 13.3%.

Board and executive committee updates

• David Gibson delivered the chairman’s address; Mark Troughear presented the strategy and trading update.

• Peter Kean stood for re-election after serving as a director since 2016; the board unanimously recommended him as an independent non-executive director.

• If re-elected, Kean intends to retire at or around the October 2027 ASM; he cited Trans-Tasman leadership experience and continuity as relevant to the next 12 months.

• Former Chair Mark Cairns completed 5.5 years of service and left at the end of July.