Skellerup Holdings (SKL) AGM 2025 summary

Opening remarks and agenda

• Meeting held at Christchurch Convention Centre and online, with a quorum present and introductions of board and executive members.

• Meeting opened with addresses from the Chair and CEO, followed by a presentation from the Agri Division's Executive GM and resolutions on director re-elections and auditor remuneration.

• Agenda included business overview, financial performance, divisional presentations, Q&A, and voting on resolutions.

Financial performance review

• Achieved record FY2025 results: net profit after tax NZD 54.5m, revenue NZD 353.5m, EBIT NZD 78m.

• Revenue reached $353m in FY25, with a CAGR of 6% since FY19.

• EBIT and underlying NPAT both achieved a CAGR of 10% since FY19.

• Divisional EBIT growth: Agri Division at 7% CAGR, Industrial Division at 12% CAGR.

• Q1 FY2026 earnings up 10% year-on-year; FY2026 net profit after tax expected NZD 55–60m.

Board and executive committee updates

• Board highlighted for constructive engagement and depth of experience, with ongoing discussion about director tenure and succession planning.

• Graham Leaming appointed CEO in March 2024, previously CFO; Tim Runnalls appointed CFO in March 2024.

• Board includes experienced independent directors and committee chairs for health & safety, sustainability, and audit.

• Recent CEO and CFO transitions described as seamless and successful.

• Board and management praised for robust debate and collaborative culture.