Volex (VLX) AGM 2024 summary

Opening remarks and agenda

• AGM held on 1 August 2024, chaired by the Executive Chairman, with a trading update presented and instructions for submitting questions via the Q&A tab.

• Chairman confirmed the meeting was quorate and provided a brief update on trading and the agenda, which included ordinary and special resolutions, board elections, and financial matters.

Financial performance review

• First quarter of FY 2025 showed 9% year-on-year constant currency organic revenue growth, driven by strong EV and data centre sectors.

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

• Ongoing capital and operational investments enhanced capacity in Mexico, India, Indonesia, and upcoming expansion in Turkey.

• Board expressed confidence in delivering on expectations for the year, citing strong Q1 performance and integration of Murat Ticaret.

Board and executive committee updates

• Directors and officers introduced, including Executive Chairman Lord Rothschild, CFO Jon Boaden, Senior Independent Non-Executive Director, and other board members such as Sir Peter Westmacott, Amelia Murillo, John Wilson, and Jeffrey Jackson.

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

• Chairman reaffirmed commitment to Volex despite consideration of another chairmanship, emphasizing Volex as his primary focus.