Mayne Pharma Group (MYX) AGM 2024 summary

Opening remarks and agenda

• AGM held on 21 November 2024, chaired by Frank Condella, with hybrid participation options and a structured agenda including Chair's address, CEO update, Q&A, and formal business proceedings.

• Procedures for asking questions and voting were explained, with technical support available.

• Board members, executives, and the auditor were introduced.

Financial performance review

• Revenue for FY24 reached $388m, up 112% from FY23, with gross margin rising to 56.3%.

• Underlying EBITDA improved to $22.9m from a loss of $95.3m in FY23, and positive operating cash generation was achieved.

• Operating cash flow from continuing operations was AUD 8.1 million.

• Cash and marketable securities at 30 June 2024 were $149.3m, down from $220.1m in FY23.

• FY25 YTD (Jul–Oct) revenue was $132.5m, with underlying EBITDA of $14.7m, a 765% increase over the prior comparable period.

Board and executive committee updates

• Board includes Frank Condella (Chair), Shawn Patrick O'Brien (CEO & MD), Aaron Gray (CFO), and several non-executive directors.

• Board continues to manage a conservative capital structure and focus on operational excellence.

• Ongoing investments in plant and equipment upgrades at the South Australia facility.