Redox (RDX) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees, outlined the agenda including introduction, financial review, formal business, and Q&A session.

• Highlighted the company's transition from private to public and recent ASX 300 inclusion.

Financial performance review

• Underlying NPAT FX reached AUD 94.8 million, up 11.4% year-on-year; gross profit margin rose to 23.4%, 2.6 percentage points above the previous year.

• Pro forma earnings per share increased by 11.8%.

• Revenue for FY24 was AUD 1,137 million, a 9.6% decrease from FY23, but gross profit rose by 1.5%.

• Cash flow from operations was AUD 115.9 million, with a net cash position of AUD 177 million.

• Revenue declined due to post-COVID price normalization, but strong cash flow and profitability maintained.

Board and executive committee updates

• Board and executive team introduced, with recognition of management's adaptation to public company governance.

• Board expressed confidence in leadership and staff contributions for FY24.

• Re-election of directors and grant of performance rights to executive directors were on the agenda.