Svitzer Group (SVITZR) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with a welcome to shareholders and introduction of the electronic AGM format, ensuring broad participation and accessibility.

• Agenda included management and financial reports, profit distribution, board and auditor elections, remuneration, and shareholder proposals.

Financial performance review

• Revenue grew 9% to DKK 6.3 billion, with adjusted EBITDA up 11% to nearly DKK 1.9 billion and a margin of 29.9%.

• Free cash flow increased to DKK 584 million, reflecting disciplined cost management and efficient project startups.

• Growth was driven by strong performance across all four regions, with notable expansion in Australia, Brazil, and Europe.

• CapEx decreased overall, except for targeted growth investments in Brazil and Canada.

• Auditors issued an unqualified opinion on the annual report and limited assurance on the sustainability statement.

Board and executive committee updates

• Board and committees met several times, focusing on strong governance and skills balance.

• Board evaluation in 2024 was positive, confirming value-adding approach.

• Proposal and election of Kim Soo Ho, an experienced maritime executive, to the board.