Metro Performance Glass (MPG) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees, introduced the board and executive team, including new appointments, and outlined the meeting format, agenda, and Q&A procedures.

Board and executive committee updates

• Directors and key executives, including new CFO Sarah Hipkiss and new country managers, were introduced, with Julia Mayne and Stephen Robertson up for (re-)election as directors.

• The board emphasized a shift to a more agile, debate-driven, and fit-for-purpose approach.

Financial performance review

• Recapitalisation received 95% shareholder support, raising $23.9m and reducing debt by approximately $34 million, with a new three-year banking facility effective 19 September.

• Positive cash flow trend and margin improvement metrics were reported, with average selling price per m2 and operational quality tracked monthly.

• Headcount reduced by 17% in New Zealand over two years and by 5% in Australia over the past year to align with lower volumes.