Lynch Group (LGL) AGM 2025 summary

Opening remarks and agenda

• Board recommended shareholders vote in favor of the scheme of arrangement, citing no superior proposal and an independent expert's positive assessment.

• Annual General Meeting held on 21 November 2025, with formal business including the annual report, remuneration report adoption, and director re-election.

• Staff were recognized for their innovation, design, and year-round product quality, contributing to global leadership in floral supply.

Financial performance review

• FY25 revenue increased by 8.2%, with Australia up 6.4% and China up 18.3%.

• Underlying EBITDA rose 9.1% to $43.2m, with Australia contributing $33.5m and China $9.7m.

• Group EBITDA reached AUD 43.2 million, with underlying EBITDA of AUD 34 million (+8%), outpacing revenue growth through cost control and profit initiatives.

• Cash conversion reached 96%, and free cash flow was positive in both countries.

• Final FY25 dividend of 9.0 cents fully franked declared; total dividends for the year were 14.0 cents, up from 12.0 cents in FY24.

Strategic initiatives and plans

• Multi-channel sales strategy with distribution in Kunming, Shanghai, and Guangzhou enabled price optimization across seasonal cycles.

• Ongoing investment in automation and farm development increased greenhouse space to 85 hectares.

• SAP system upgrade implemented, with first phase live.

• Domestic farm closures ongoing, with one WA farm closed in FY25 and QLD farm winding down for closure in FY26.

• Sustainability initiative FLOURISH expanded, with third annual report released and new partnerships formed.