Qube (QUB) AGM 2024 summary

Opening remarks and agenda

• AGM held in hybrid format, enabling in-person and online participation, with voting and Q&A for all shareholders and proxy holders.

• Notice of meeting, agenda, and voting instructions provided electronically and via mail, with all materials lodged on the ASX and company website.

• Managing Director's presentation opened the meeting.

• Chairman acknowledged the retirement of Deputy Chairman Sam Kaplan and welcomed new directors Jill Hoffmann and James Fazzino.

Financial performance review

• Underlying revenue grew 17.2% to AUD 3,503.6 million, statutory revenue up 16.6% to AUD 3,357.2 million in FY24.

• EBITA increased 14% to AUD 318 million, statutory NPAT rose 32.2% to AUD 221.9 million, and underlying NPATA reached AUD 271 million.

• Underlying EPSA grew 13.1% to 15.3 cents per share, marking the fourth consecutive period of double-digit EPS growth.

• Group ROACE improved to 9.5%, progressing toward the 10%+ target.

• Growth driven by high container volumes, strong automotive and ports performance, and contributions from recent acquisitions.

Dividend announcements

• Full year dividend increased 13% to AUD 0.0915 per share, fully franked, with a 60% payout ratio.

• Final ordinary dividend increased to AUD 0.0515 per share.