Hansen Technologies (HSN) AGM 2024 summary

Opening remarks and agenda

• The 25th AGM was held virtually for the fifth consecutive year, with voting open until five minutes after the meeting's end.

• The meeting included a financial review, CEO presentation, formal resolutions, and Q&A.

• All directors, key executives, and auditors were introduced, and a quorum was confirmed.

• Chairman's address and CEO's presentation opened the meeting, followed by an FY25 update and formal business proceedings.

Financial performance review

• FY24 operating revenue increased 7.3% to $334.7m, with underlying cash EBITDA up 11.1% to $87.1m (excluding PowerCloud).

• Group operating revenue reached $353.1m, with a 22% underlying cash EBITDA margin.

• Energy & Utilities revenue rose 14.7%, and no single customer contributed more than 8% of total revenue.

• PowerCloud acquisition and restructuring impacted group margins, with $18.4m in revenue and negative EBITDA, but cost base was reduced by ~$27m.

• Group EBITDA guidance for FY25 is $92–$101 million, with PowerCloud expected to be EBITDA positive in 2H25.

Board and executive committee updates

• David Osborne, a long-serving director, announced his retirement and was acknowledged for his contributions.

• Rebecca Wilson was elected as a director, and Niv Fernando returned to lead strategy, M&A, and HR.

• Board includes Chairman David Trude, CEO Andrew Hansen, and several non-executive directors.

• Executive team highlighted for readiness to drive next growth phase, with new roles in strategy and technology.

• The board discussed succession planning and diversity, noting ongoing review and future changes.