Superloop (SLC) AGM 2024 summary

Opening remarks and agenda

• Chair Peter O'Connell opened the meeting remotely due to illness, with Vivian Stewart appointed as Chair for the AGM.

• The meeting acknowledged the traditional custodians of the land and confirmed a quorum, officially opening the 2024 AGM as a hybrid event.

• Chair and CEO/MD delivered opening addresses, followed by a review of FY24, a trading update for FY25, and formal business proceedings.

• The agenda included performance reviews, formal business, and shareholder engagement.

Financial performance review

• Revenue grew 30% to AUD 420.5 million, with underlying EBITDA up 45.2% to AUD 54.3 million for FY24.

• Net loss reduced by 66%, positive cash flow achieved, and record organic customer growth to over 455,000, a 123.9% YoY increase.

• Free cash flow increased 26% to AUD 29.2 million, with all segments contributing to growth.

• Consumer segment revenue rose 47.1%, business by 4.3%, and wholesale by 9.4%.

• Opex/Revenue ratio improved to 17.1%, down 2.6% from the previous year, and nbn market share reached 4% with 78,000 net nbn adds.

Board and executive committee updates

• Board composition and key management were introduced, including new audit partner and legal advisors.

• Presenters included the Independent Chair, CEO/MD, and several Independent Non-Executive Directors.

• Board thanked for contributions, with special mention of Tony Clark's re-election and expertise.