Seeka (SEK) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with acknowledgments of those present, including remote participants, and a welcome to new shareholders and partners.

• The agenda was displayed, and attendees were encouraged to ask questions through the chair.

Financial performance review

• Achieved record revenue of NZD 411 million, up 37%, and record profit before tax of NZD 30 million, a NZD 31 million turnaround from the previous year.

• EBITDA rose 193% to NZD 76 million; Australian EBITDA up 373% to NZD 3.2 million.

• Net leverage ratio improved to 2.15:1, with NZD 35 million in debt repaid from operating cash flow.

• Dividends reinstated: 10 cents paid in January, 5 cents paid recently.

• Segment highlights: orcharding revenue NZD 103 million, post-harvest NZD 247 million, Seeka Fresh NZD 31 million, Australia NZD 19 million.

Board and executive committee updates

• Chair Fred Hutchings announced his retirement; Mark Dewdney elected as the next chair.

• Board composition updated with new and re-elected directors: Stewart Moss, Mark Dewdney, and Hayley Gourley.

• Board committees and roles outlined, including audit, risk, sustainability, and remuneration.