Vista Group International (VGL) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders, introduced board members, and confirmed quorum with 59.64% of voting shares represented.

• Chair Susan Peterson and CEO Stuart Dickinson delivered opening addresses and outlined the meeting agenda, including presentations, resolutions, and general business for both in-person and virtual attendees.

Financial performance review

• Achieved record total revenue of $150.0m in 2024, a 5% increase from 2023, with recurring revenue up 9% to $134.6m and SaaS revenue up 21% to $55.7m.

• EBITDA margin reached 14.4% (15.5% excluding FX), with EBITDA of $21.6m, up 62%; net profit before tax was $1.8m, reversing prior losses.

• Free cash flow positive for the second half of 2024; operating cashflow increased 87% to $16.8m.

• Share price appreciated 88% in 2024, ranking third highest in NZX 50.

Board and executive committee updates

• Board succession process, paused in late 2024 for a special meeting, has resumed with updates expected soon.

• Executive compensation structures revised for greater transparency and alignment with performance; independent review of Director fees conducted.

• Acknowledgement and farewell to retiring director Kirk Senior for his significant contributions, including the IPO and expansion.