Sonic Healthcare (SHL) AGM 2024 summary

Opening remarks and agenda

• Meeting commenced at 10:00 A.M. in a hybrid format, allowing both in-person and online participation.

• Annual General Meeting held on 19 November 2024.

• Acknowledgement of traditional custodians and confirmation of quorum.

• Introduction of board members, CEO, CFO, and Company Secretary; auditors and procedural instructions provided.

• Voting conducted via poll, with results to be announced to the ASX.

Financial performance review

• FY2024 revenue reached A$8,967 million, a 10% increase from FY2023, with net profit at A$511 million, down 25% due to an 87% drop in COVID-related revenues.

• Base business revenue grew 16%, with 6% organic growth and contributions from acquisitions.

• EBITDA (excluding gain from US West division sale) was A$1,602 million, down 6% year-on-year.

• Progressive dividend policy continued, with a 2% increase to A$1.06 per share.

• Revenue split: USA 24%, Australia 22%, Germany 20%, Switzerland 10%, UK 7%.

Board and executive committee updates

• Board comprises seven non-executive and two executive directors, maintaining gender diversity (44% female, 56% male).

• Lou Panaccio retired after 19 years; Nicola Wakefield Evans to join as independent non-executive director in February 2025.

• Committee appointments: Prof. Crowe to Remuneration and Nomination, Prof. Bennett to Risk Management.