Treasury Wine Estates (TWE) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with a quorum, held in-person and virtually, with directors and management introduced.

• Shareholders encouraged to ask questions, with procedures for both in-person and online participation explained.

• Voting conducted by poll, open throughout the meeting, with results to be published on the ASX and company website.

Financial performance review

• Net sales revenue reached AUD 2.9B, up 7.2%, with EBIT up 17% to AUD 770M, and NPAT up 15.5% to AUD 470.6M.

• EBIT margin expanded by 2.2 points to 26.2%; return on capital employed improved to 11.9%.

• Luxury portfolio contributed 87.4% of global NSR; Penfolds and Treasury Americas delivered strong growth, while Premium Brands declined.

• EPS increased by 10.8% to 58.0 cps.

• Cash conversion was 11.9%.

Dividend announcements

• Final dividend of AUD 0.40 per share declared, 70% franked, payout ratio of 69%, up 11.1% from prior year.

• Full year dividend declared at 40cps, representing a payout ratio of 55%.