Volex (VLX) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with a welcome, instructions for submitting questions, and confirmation of quorum; AGM held on 1 August 2024, chaired by the Executive Chairman, with a trading update presented.

• Notice of AGM sent on July 3, 2024, and taken as read before moving to formal business.

• Agenda included ordinary and special resolutions, board elections, and financial matters.

Financial performance review

• Q1 FY2025 trading update showed performance in line with management expectations and continued positive momentum from FY2024.

• Year-on-year constant currency organic revenue growth of 9%, driven by strong EV and data center sector results.

• Murat Ticaret performing well in its first full year, supporting growth in the off-highway market.

• Ongoing capital and operational investments, including site expansions in Mexico, India, Indonesia, and upcoming expansion in Turkey.

Board and executive committee updates

• Executive Chairman reaffirmed commitment to the company despite external chairmanship considerations, emphasizing primary focus and significant personal investment.

• Executive Chairman: Lord Rothschild; CFO: Jon Boaden.

• Non-executive directors include Sir Peter Westmacott, Amelia Murillo, John Wilson, and Jeffrey Jackson.

• Chris Bedford serves as Group General Counsel & Company Secretary.