Ricegrowers (SGLLV) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and confirmation of quorum.

• AGM held in Deniliquin, NSW, with in-person and webcast attendance for A and B Class shareholders and stakeholders.

• Introduction of board members, executives, auditors, and legal advisors.

• Chairman welcomed attendees and highlighted recent industry events and achievements.

• Agenda included chairman's address, CEO presentation, review of financial and directors' reports, voting on resolutions, and Q&A.

Financial performance review

• Achieved record group revenue of AUD 1.88 billion, up 15% from prior year.

• EBITDA reached AUD 143.9 million, up 23%; net profit after tax was AUD 68.2 million, up 24%.

• Fully franked dividend of AUD 0.60 per B-Class share, a 20% increase, with a 9.2% yield.

• Over half of revenue generated outside Australia and New Zealand, reflecting strong international expansion.

• All business segments reported improved metrics, with International Rice segment EBITDA up 42%.

Board and executive committee updates

• CEO Paul Serra completed his first year, leading a review and refresh of the growth strategy.

• Smooth leadership transition from outgoing CEO Rob Gordon, with remuneration aligned to performance.

• Board recommended and supported re-election of Dr. Andrew Crane (three years), John Bradford, and Ian Mason (two years each), highlighting their contributions.