Kelsian Group (KLS) AGM 2025 summary

Opening remarks and agenda

• New Group CEO introduced, with smooth leadership transition and acknowledgment of predecessor's contributions.

• Chair Fiona Hele and Group CEO Graeme Legh addressed shareholders at the 2025 AGM held on 30 October 2025 in Adelaide.

• Agenda included financial results, strategic and operational highlights, divisional performance, and outlook.

Financial performance review

• FY25 underlying EBITDA reached AUD 285 million, up 7.4%, with revenue up 9.5% to AUD 2.2 billion; EBIT up 11.4% to AUD 136 million.

• Record net operating cash flow exceeded AUD 200 million, rising 39.9% to AUD 205.2 million; leverage reduced to 2.7x EBITDA.

• All divisions delivered revenue, EBITDA, and EBIT growth, supported by strong contract renewals and cost indexation.

• EPS before amortisation increased 2.2% to 35 cents per share; NPATA up 2.4% to AUD 94.8 million.

• Fully franked dividend maintained at AUD 9.50 per share; strong cash conversion at 87%.

Board and executive committee updates

• CEO transition completed; Brent Maitland appointed as new AAAAHI CEO.

• Board comprises independent and non-executive directors, with Graeme Legh as CEO, Andrew Muir as CFO, and Joanne McDonald as Group Chief Legal and Risk Officer.

• Management remuneration structure revised to align with new capital management targets.

• EY serves as the external auditor.