Medical Developments International (MVP) AGM 2025 summary

Opening remarks and agenda

• The meeting was conducted in a hybrid format, allowing both in-person and virtual participation, with contingency plans for technical issues.

• Chair Gordon Naylor announced this would be his last AGM, with Mark Fladrich to succeed him as Chair from December 2025.

• The agenda included five resolutions, a business update, and formal proceedings, with all necessary notices and disclaimers provided.

Financial performance review

• FY 2025 saw a significant improvement, with a modest net profit after tax and positive operating cash flow in the second half.

• Group revenue increased by 18% year-on-year.

• Funds were raised in FY 2025 to support growth initiatives, with targeted deployment already underway.

• Q1 FY 2026 results showed strong Penthrox volumes, improved pricing in Australia, and tight cost management.

• Investment in growth and distribution changes in France and Switzerland are expected to soften underlying EBIT in FY 2026, but deliver long-term gains.

Board and executive committee updates

• Two new directors, Mark Fladrich and Paul Townsend, stood for election, filling casual vacancies.

• Christine Emmanuel-Donnelly and Leon Hoare stood for re-election by rotation.

• Mark Fladrich brings extensive global healthcare experience and will focus on strategic execution and financial discipline.

• Paul Townsend, with a strong financial background, was elected Deputy Chair and Chair of the Audit and Risk Committee.