Iress (IRE) AGM 2025 summary

Opening remarks and agenda

• Chair opened the hybrid meeting, acknowledged traditional land owners, introduced directors and executive team members, and outlined the agenda, including financial statements, director elections, remuneration report, and grant of Share Appreciation Rights to the CEO.

• Explained Q&A and voting procedures for both in-person and online attendees, with voting conducted via poll.

Financial performance review

• FY24 adjusted EBITDA rose 25.2% to $132.8m, underlying EPS up 72.4% to 34.3 cps, and NPATA surged 192.2% to $30.1m.

• EBITDA margin expanded to 22%, and staff numbers reduced by a third, boosting revenue per FTE by 44%.

• Leverage ratio improved to 1.0x from 2.5x, with further reductions expected as asset sale proceeds are banked.

• Dividend reinstated with a final 10c/share declared in February for FY24.

• Affirmed FY25 guidance: adjusted EBITDA $127m–$135m, NPATA $54m–$62m, underlying PAT $65m–$73m.

Board and executive committee updates

• Board refresh completed: two long-serving directors retired, two new directors appointed, with current composition including Roger Sharp (Chair), Marcus Price (MD & CEO), and several non-executive directors.

• Elections and re-elections of Michael Dwyer AM, Susan Forrester AM, and Robert Mactier were on the agenda.

• Management changes included appointing a Deputy CEO and a new head for Trading and Market Data.

• Remuneration framework restructured for transparency and alignment with shareholder outcomes.