Pro Medicus (PME) AGM 2024 summary

Opening remarks and agenda

• Meeting held in Hawthorn, Melbourne, with both in-person and online attendance, acknowledging traditional land owners.

• Introduction of board members, executive team, auditors, and key management personnel.

• Chairman and CEO addressed the AGM, highlighting operational and financial achievements for FY2024.

Financial performance review

• Fiscal 2024 revenue rose 29.3% to AUD 161.5 million, net profit after tax up 36.5% to AUD 82.8 million, and cash/investments increased to AUD 155.4 million.

• Underlying EBIT increased 33.8% to AUD 112.3 million, with EBIT margins at 69.5%.

• Company remained cash flow positive, funding buybacks, investments, and increased dividends.

• FY2024 results were ahead of budget, with expectations for a stronger second half in FY2025.

Board and executive committee updates

• Board composition highlighted, with increased number of independent directors and recognition of director workloads.

• Succession planning and future leadership discussed as ongoing board focus.

• Management team led by Dr. Sam Hupert credited for long-term, sustainable results.

• Board continues to invest in staff and management to support strategic growth.