Worley (WOR) AGM 2024 summary

Opening remarks and agenda

• The meeting opened with safety instructions and a Welcome to Country, acknowledging the traditional owners and emphasizing respect and reconciliation with First Nations people.

• The Chair introduced the board, welcomed new directors, and confirmed a quorum for the meeting.

Financial performance review

• Achieved record revenue and earnings in FY24, with revenue up 18% and EBITDA up 24% to AUD 751 million.

• Over 52% of revenue now comes from sustainability-related work, with a target of 75% by FY26.

• Strong cash result and reduced leverage to 1.5x, supporting future growth and dividends.

• Dividend remained at AUD 0.50 for five years, with ongoing shareholder feedback about increasing it.

Board and executive committee updates

• Farewell to two non-executive directors and welcomed Alison Kitchen and Kim Gillis to the board.

• Board succession and renewal guided by independent evaluation.

• Directors standing for re-election or election addressed their qualifications and commitment.