Monadelphous Group (MND) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of country, introduction of board, executive team, and auditors, and addresses from the Chair and Managing Director.

• Hybrid format enabled both in-person and online participation, with safety and technical protocols outlined.

• Agenda included strategic and financial reviews, formal business, Q&A, and voting on six resolutions.

Financial performance review

• Revenue reached AUD 2.03 billion, up 11% year-on-year, with EBITDA of AUD 127.4 million and an EBITDA margin of 11%.

• Net profit after tax was AUD 62.2 million, up over 16%, and cash balance at year-end was just under AUD 226 million, improving by 18.4%.

• Cash flow conversion from operations was AUD 187.7 million, with a conversion rate of 169%.

• Record revenue in Maintenance & Industrial Services at AUD 1.32 billion; Engineering Construction revenue rose 31.5% to AUD 712.7 million.

• Full-year fully franked dividend increased 18.4% to AUD 0.58 per share, with a payout ratio of 91%.

Board and executive committee updates

• Board comprises Chair Rob Velletri, Managing Director Zoran Bebic, and four independent non-executive directors.

• Executive General Managers for Engineering Construction and Maintenance & Industrial Services presented divisional highlights.

• Strategic focus on contract wins, operational discipline, and talent retention highlighted.