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.

Financial performance review

• FY25 Group revenue grew 8.2% year-on-year, with Australia up 6.4% (AUD 351 million) and China up 18.3% (AUD 101 million).

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

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

• Automated bouquet lines and efficiency initiatives improved margins and de-risked execution during peak periods.

• 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

• Entered Scheme Implementation Agreement for 100% acquisition by Hasfarm Bidco, with shareholder vote scheduled post-AGM.

• Continued investment in automation and efficiency, including expansion of greenhouse space in China to 85 hectares.

• Multi-channel sales strategy in China, leveraging distribution points in Kunming, Shanghai, and Guangzhou for price optimization.

• 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.