Savor (SVR) AGM 2024 Presentation summary

Board and leadership overview

• CEO Lucien Law has led the creation of New Zealand's largest group of premium restaurants and bars, leveraging a background in advertising and communications.

• Executive Chair Paul Robinson brings 25 years of structured finance experience and was instrumental in Savor's NZX listing and business restructuring.

• Director Louise Alexander, up for re-election, is a senior HR leader with a focus on people, culture, and talent management.

• Director Bhupen Master adds global capital markets expertise, supporting the group's growth trajectory.

Financial performance and trading update

• FY24 revenue and EBITDA both increased compared to FY23, with leverage ratio improving year-on-year.

• For the five months to 31 August 2024, revenue was $21m (down 8%) and EBITDA $3.6m (down 10.6%) versus prior year, impacted by venue closures and business wind-downs.

• 65–70% of annual profit is generated in summer, with recent positive consumer sentiment noted.

Strategic initiatives and shareholder priorities

• Board to implement a group dividend policy and a minimum holdings share buyback.

• Introduction of a Savor shareholder discount benefit scheme planned.