Orora Group (ORA) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees to the eleventh AGM, highlighting the company's 10-year journey and hybrid meeting format.

• Notice of meeting was distributed and taken as read; quorum confirmed and meeting declared open.

• Senior leadership, board members, and auditor were introduced; agenda included financial review, sustainability, and strategic updates.

• AGM held on 16 October 2024, chaired by Rob Sindel, with Brian Lowe as Managing Director and CEO.

Financial performance review

• Underlying EBIT rose 26% to AUD 404 million, driven by Saverglass acquisition; excluding Saverglass, EBIT increased 1% to AUD 323 million.

• Underlying NPAT up 10.2% to AUD 224 million; underlying EPS decreased 19.4% to 17.9 cps due to higher share count from capital raising.

• Operating cash flow up 47% to AUD 397 million, with 80% cash conversion.

• OPS revenue down 10.8%, Australasia EBIT up 2.0%, Saverglass delivered €48.8m EBIT in seven months.

• Final ordinary dividend of AUD 0.05 per share, total for year AUD 0.10, payout ratio 60%.

Board and executive committee updates

• Two long-serving directors retired; two new independent non-executive directors, Sarah Hofman and Claude-Alain Tardy, nominated for election.

• Sarah Hofman brings 30+ years in audit, advisory, and capital markets; Claude-Alain Tardy has 40+ years in global operations and sustainability.

• Both nominees addressed shareholders, outlining their credentials and commitment.

• Board comprises Chair Rob Sindel, CEO Brian Lowe, and four independent non-executive directors.