Graincorp Limited Class A · ASX:GNC
Graincorp Limited Class A — Shareholder Meeting (February 2022)
30 slides from Graincorp Limited Class A's shareholder meeting presentation, Feb 17, 2022
Slide 1: GrainCorp Limited Annual General Meeting – FY21
This release has been authorised by the Board of GrainCorp Limited GrainCorp Limited Annual General Meeting – FY21 17 February 2022
Slide 2: Disclaimer
WORK IN PROGRESS DRAFT Disclaimer This presentation includes both information that is historical in character and information that consists of forward looking statements. Forward looking statements are not based on historical facts, but are based on current expectations of future results or events.
Slide 3: Board of Directors
WORK IN PROGRESS DRAFT Board of Directors MR PETER RICHARDS MR ROBERT SPURWAY MS NICKI ANDERSON MS KATHY GRIGG CHAIRMAN MANAGING DIRECTOR & CEO NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR MR DAN MANGELSDORF MR DONALD MCGAUCHIE MR CLIVE STIFF NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR NON-EXECUT
Slide 4: Technology and procedural matters
Technology and procedural matters GRAINCORP
Slide 5: Agenda
Agenda 1. Chairman’s Address 2. Managing Director & CEO’s Presentation 3. Business of the Annual General Meeting Resolutions Shareholder questions Poll voting 4. Meeting closed
Slide 6: Chairman’s Address
Chairman’s Address Peter Richards
Slide 7: Managing Director & CEO’s Presentation
Managing Director & CEO’s Presentation Robert Spurway
Slide 8: FY21 financial highlights
WORK IN PROGRESS DRAFT FY21 financial highlights Substantial increase in earnings in both business segments Underlying EBITDA1 ($m) FY21 FY202 Agribusiness 275 79 Processing 78 46 Corporate (22) (16) Total Underlying EBITDA 331 108 Depreciation & Amortisation (107) (110) Interest (26) (26) Tax (59)
Slide 9: Delivery of operating initiatives driving substantial earnings uplift
WORK IN PROGRESS DRAFT Delivery of operating initiatives driving substantial earnings uplift Significant outperformance in FY21 versus FY17 (similar sized crop year) Proforma Underlying EBITDA ($m)1 3312 Outstanding financial result in FY21 Considerable increase in earnings compared to last comp
Slide 10: COVID-19
WORK IN PROGRESS DRAFT COVID-19 Our proactive response has highlighted the strength of our values and organisational resilience Safety and wellbeing of our people, growers and customers is our highest priority Safety and wellbeing COVID safe plans including changes to office/site configurations,
Slide 11: Harvest Update – 2021/22
WORK IN PROGRESS DRAFT Harvest Update – 2021/22 Second consecutive bumper crop Outstanding cropping conditions – East Coast Australian (ECA) grain production substantially above average ABARES’ 2021/22 grain production forecasts (30 Nov 2021 report): – total ECA winter crop 29.1mmt – ECA summer
Slide 12: Growth initiatives aligned with strategy
WORK IN PROGRESS DRAFT Growth initiatives aligned with strategy Targeted investment and research collaborations focused on growth areas aligned with our strategy Case studies • Acquisition of 15% stake in Hone, a leading developer of Digital & mobile technology that analyses grain quality, soil carb
Slide 13: Sustainability embedded across our strategy
WORK IN PROGRESS DRAFT Sustainability embedded across our strategy Sustainability provides the foundation for our Vision and Purpose and is integral to our strategy and culture 2021 a year of change for our ESG approach and communications Stakeholder engagement undertaken to identify key ESG top
Slide 14: Outlook
WORK IN PROGRESS DRAFT Outlook Expecting another outstanding financial result in FY22 Variables and assumptions FY22 FY22 guidance is subject to: Underlying EBITDA1 of $480 – 540 million Second half grain volumes, including Guidance sorghum receivals Underlying NPAT2 of $235 – 280 million Ti
Slide 15: Business of the AGM
Business of the AGM Peter Richards GRAINCORP
Slide 16: Business of the AGM
WORK IN PROGRESS DRAFT Business of the AGM For consideration Item 1: Consideration of Financial Statements and Reports Ordinary resolutions Item 2: Adoption of the Remuneration Report Item 3a: Re-election of Director – Mr Peter Richards Item 3b: Election of Director – Ms Nicki Anderson Item 3c: Elec
Slide 17: Item 1: Consideration of Financial Statements and Reports
WORK IN PROGRESS DRAFT Item 1: Consideration of Financial Statements and Reports To receive and consider the financial report (which includes the financial statements and the Directors’ Report and Auditor’s Report) for GrainCorp for the financial year ended 30 September 2021. Note: No resolution is
Slide 18: Item 2: Adoption of the Remuneration Report
WORK IN PROGRESS DRAFT Item 2: Adoption of the Remuneration Report To consider and, if thought appropriate, pass the following as an ordinary resolution: “That the Remuneration Report (which forms part of the Directors’ Report) of the Company for the financial year ended 30 September 2021 set out on
Slide 19: Proxy and direct votes
WORK IN PROGRESS DRAFT Proxy and direct votes Item 2: Adoption of the Remuneration Report PROXY & DIRECT VOTES FOR OPEN AGAINST TOTAL Item 2 144,382,738 411,382 5,007,394 149,801,514 % vote 96.4% 0.3% 3.3% 65.5% of issued capital The Chairman of the Meeting will be voting open proxies in favour of t
Slide 20: Item 3a: Re-election of Mr Peter Richards
WORK IN PROGRESS DRAFT Item 3a: Re-election of Mr Peter Richards To consider and, if thought appropriate, pass the following as an ordinary resolution: “That, for the purposes of ASX Listing Rule 14.4, article 11.3(a) of the constitution of the Company and for all other purposes, Mr Peter Richards,
Slide 21: Proxy and direct votes
WORK IN PROGRESS DRAFT Proxy and direct votes Item 3a: Re-election of Mr Peter Richards PROXY & DIRECT VOTES FOR OPEN AGAINST TOTAL Item 3a 105,132,735 381,435 44,842,779 150,356,949 % vote 69.9% 0.3% 29.8% 65.7% of issued capital The Chairman of the Meeting will be voting open proxies in favour of
Slide 22: Item 3b: Election of Ms Nicki Anderson
WORK IN PROGRESS DRAFT Item 3b: Election of Ms Nicki Anderson To consider and, if thought appropriate, pass the following as an ordinary resolution: “That, for the purposes of ASX Listing Rule 14.4, article 11.3(a) of the constitution of the Company and for all other purposes, Ms Nicki Anderson, app
Slide 23: Proxy and direct votes
WORK IN PROGRESS DRAFT Proxy and direct votes Item 3b: Election of Ms Nicki Anderson PROXY & DIRECT VOTES FOR OPEN AGAINST TOTAL Item 3b 148,914,186 390,185 1,046,523 150,350,894 % vote 99.0% 0.3% 0.7% 65.7% of issued capital The Chairman of the Meeting will be voting open proxies in favour of the r
Slide 24: Item 3c: Election of Mr Clive Stiff
WORK IN PROGRESS DRAFT Item 3c: Election of Mr Clive Stiff To consider and, if thought appropriate, pass the following as an ordinary resolution: “That, for the purposes of ASX Listing Rule 14.4, article 11.3(a) of the constitution of the Company and for all other purposes, Mr Clive Stiff, appointed
Slide 25: Proxy and direct votes
WORK IN PROGRESS DRAFT Proxy and direct votes Item 3c: Election of Mr Clive Stiff PROXY & DIRECT VOTES FOR OPEN AGAINST TOTAL Item 3c 149,002,227 392,025 956,142 150,350,394 % vote 99.1% 0.3% 0.6% 65.7% of issued capital The Chairman of the Meeting will be voting open proxies in favour of the resolu
Slide 26: Item 4: FY22 Long Term Incentive grant to MD & CEO
WORK IN PROGRESS DRAFT Item 4: FY22 Long Term Incentive grant of performance rights to the MD & CEO To consider and, if thought appropriate, pass the following as an ordinary resolution: “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval be given for the grant of 1
Slide 27: Proxy and direct votes
WORK IN PROGRESS DRAFT Proxy and direct votes Item 4: FY22 Long Term Incentive grant of performance rights to the MD & CEO PROXY & DIRECT VOTES FOR OPEN AGAINST TOTAL Item 4 146,417,468 460,202 3,478,106 150,355,776 % vote 97.4% 0.3% 2.3% 65.7% of issued capital The Chairman of the Meeting will be v
Slide 28: GrainCorp
GrainCorp
Slide 29: Meeting closed
GrainCorp: = 3 ® o i} rs) D ro = ® o =
Slide 30: GrainCorp Limited Annual General Meeting – FY21
GrainCorp Limited Annual General Meeting – FY21 17 February 2022