Kelly Partners Group (KPG) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with a summary of business scale: 600 team members, 100 equity partners, 37 businesses in 4 countries, and June 2024 revenue of AUD 108 million, with a run rate of AUD 134 million.

• Founder and CEO Brett Kelly and CFO Kenneth Ko led the AGM, highlighting the company's growth and performance metrics.

• Emphasis on the company's positive impact through its win-win-win business model and values-driven culture.

Financial performance review

• FY2024 revenue reached AUD 108.1 million, up 29.2% year-on-year; EBITDA was AUD 30 million (27.8% margin), with operating business margin at 29.6%.

• Underlying NPATA was AUD 8 million, up 52.3%; earnings per share rose 48.6%.

• Cash conversion was strong at 96.9%; net debt to EBITDA decreased to 1.28x.

• Free cash flow per share was AUD 0.174, with a 28% return on invested capital and organic growth.

• Group ROE rose to 40.7% and ROIC to 24.8% in FY24.

Board and executive committee updates

• Board introduced: Steve Rouvray (NED), Ada Poon (ED), Paul Kuchta (ED), Lawrence Cunningham (NED), Ryan Macnamee (NED), Kenneth Ko (CFO), Joyce Au (General Counsel), David Franks (Company Secretary), and auditors.

• Lawrence Cunningham shared positive views on the company's strategy, leadership, and board quality.

• Re-election of directors Ryan Macnamee and Ada Poon was proposed and approved.