Super Retail Group (SUL) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of Indigenous custodians, emergency procedures, and strategic focus for the year ahead.

• Hybrid format enabled both in-person and virtual participation, enhancing shareholder engagement.

• Agenda included financial highlights, CEO transition, Q&A, and formal business items.

Board and executive committee updates

• Paul Bradshaw appointed as new Group MD and CEO, following the termination of the former CEO due to undisclosed information.

• Board acted decisively, lapsing over AUD 7 million in incentives for the former CEO.

• Board gender diversity reached 50%, up from 41% the previous year; senior leader gender diversity increased to 41%.

• Kate Burley joined as Independent Non-Executive Director, bringing technology and governance expertise.

• Board conducted an externally facilitated evaluation and increased engagement with executive leadership.

Financial performance review

• Group sales exceeded AUD 4 billion for the first time, reaching $4,070m, up 4.5% year-on-year, with 2.6% like-for-like sales growth.

• Normalized profit before tax declined 3.9% to AUD 329 million; statutory NPAT was AUD 221.8 million, down 7.6%.

• Online sales grew 8.2% to $524.3m, now 12.9% of total sales; active club members increased by 1 million to 12.5 million.

• BCF and Rebel performed strongly, while Supercheap Auto and Macpac were below expectations.

• Gross margin was 45.6%, down 50bps, mainly due to increased stock loss (theft/shrinkage).