MLG Oz (MLG) AGM 2024 summary

Opening remarks and agenda

• Meeting opened at 2:00 P.M. with a quorum present, introductions of board members, and a Managing Director's presentation outlining growth strategies and market outlook.

• Formal business included tabling resolutions, addressing questions, and a Managing Director's presentation on company activities.

Financial performance review

• Revenue grew to $474.8m in FY2024, up from $383.8m in FY2023, with a 28.7% CAGR over six years.

• EBITDA increased to $55.3m (from $35.0m), and NPAT rose to $11.0m (from $0.8m), with EBITDA margin improving to 11.8% from just over 9% in FY2023.

• Operating cashflow reached $57.6m, supporting investment and reducing leverage, with financial gearing lowered to 1x EBITDA from 1.6x.

• Net tangible assets increased by over 10%, now at $130.8m or $1 per share.

Board and executive committee updates

• Board and executive team introduced, including Managing Director Murray Leahy, Non-Executive Chair Anna Neuling, Independent Non-Executive Director, CFO, and auditor.