Graincorp Limited Class A · ASX:GNC
Graincorp Limited Class A — Shareholder Meeting (February 2024)
29 slides from Graincorp Limited Class A's shareholder meeting presentation, Feb 14, 2024
Slide 1: GrainCorp Limited FY23 Annual General Meeting
GrainCorp Limited FY23 Annual General Meeting 14 February 2024 This release has been authorised by the Board of GrainCorp Limited
Slide 2: Disclaimer
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. The forward looking sta
Slide 3: Acknowledgement of Country
Acknowledgement of Country GrainCorp acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of Australia and embraces the spirit of reconciliation, working towards the equality of outcomes and ensuring an equal voice. GrainCorp’s silo artwork at Sheep Hills, Victoria GrainCo
Slide 4: Board of Directors
Board of Directors Peter Richards Robert Spurway Kathy Grigg AM Nicki Anderson Chairman Managing Director & CEO Non-Executive Director Non-Executive Director Clive Stiff Peter Knoblanche John Maher Dan Mangelsdorf Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Dir
Slide 5: Agenda
Agenda Speakers Contents Peter Richards • Chairman’s Address Chairman • MD & CEO’s presentation • Business of the AGM Robert Spurway • Resolutions MD & CEO • Shareholder questions • Poll voting • Meeting closed GrainCorp receival site in Yamala, QLD GrainCorp Annual General Meeting | FY23
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: Health and safety
Health and safety The safety of our people is our highest priority • Colleague fatally injured at Moree site in April 2023 • Developments in FY23: – Continued growth of our health and wellbeing program (THRIVE) including a focus on psychosocial hazards – Simplified and improved our safety, health an
Slide 9: FY23 highlights
FY23 highlights Continued strategy execution driving excellent all-round performance Return on invested capital EBITDA1 Net profit after tax (ROIC)2,3 $565m $250m 18.6% (FY22: $703m) (FY22: $380m) (FY22: 27.9%) Total grain handled4,5 Oilseed crush volumes5 Core cash6 37.4mmt 496kmt $349m (FY22: 41.1
Slide 10: Executing on strategy; delivering returns and growth
Executing on strategy; delivering returns and growth Strengthen the core Targeted growth opportunities GrainCorp Annual General Meeting | FY23 10
Slide 11: Strengthen the core
Strengthen the core Driving our core business to lift shareholder returns Drive existing assets Leveraging capabilities Lift returns • Sustained increase in oilseed crush volumes: • Commencement of business and systems • Foods NZ – commenced strategic review of 8% CAGR FY19-23 transformation to redu
Slide 12: Targeted growth opportunities
Targeted growth opportunities Disciplined investment where GrainCorp has a right to win Agri-Energy Animal Nutrition Digital and AgTech • Identified Western Australia as preferred • Proposed acquisition of Performance Feeds • GrainCorp Ventures is GrainCorp’s $30m state for a new crush facility and
Slide 13: Commitment to sustainability
Commitment to sustainability ESG is fundamental to GrainCorp’s long-term performance and sustainability Our environment Our People Our integrity • Committed to setting SBTi target for Scope 1, • GrainCorp Community Foundation supported • Received conditional endorsement from 2 and 3 emissions reduct
Slide 14: Harvest update
Harvest update FY24 ECA production in line with historical average; improving outlook Australian rainfall deciles • Above average yields in Victoria and Southern NSW were offset by 3 months to 31 January 20245 lower production in northern regions • ABARES December forecast1: • Total ECA winter crop:
Slide 15: Outlook
Outlook Continuing to execute on our strategy FY24 Guidance Grain volume assumptions (mmt) – FY24 • Underlying EBITDA of $270–310 million Carry-in (at 1 Oct 2023) 3.9 • Underlying NPAT of $65–95 million Receivals 10.0-11.0 • Guidance excludes systems transformation costs Domestic outload 5.5-6.5 Agr
Slide 16: Business of the AGM
Business of the AGM Peter Richards
Slide 17: Agenda Business of the AGM
Agenda 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: Election of Mr John Maher Item 3b: Election of Mr Peter Knoblanche Item 4: FY24 Grant of Performance Rights to the Managing
Slide 18: Item 1: Consideration of Financial Statements and Reports
Item 1 Consideration of the Financial Statement 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 2023. Note: No resolution is required for this ite
Slide 19: Item 2: Adoption of the Remuneration Report
Item 2 Adoption of the Remuneration Report To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, the Remuneration Report (which forms part of the Directors’ Repo
Slide 20: Item 2: Proxy and direct votes
Item 2 Adoption of the Remuneration Report Proxy and direct votes – Item 2 FOR OPEN AGAINST TOTAL Votes 130,424,042 319,190 19,347,466 150,090,698 66. 7% of % vote 86.9% 0.2% 12.9% issued capital The Chairman of the Meeting will be voting open proxies in favour of the resolution Note: The vote on th
Slide 21: Item 3a: Election of Mr John Maher
Item 3a Election of Mr John Maher To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 14.4, article 11.3(c) of the Constitution and for all other purposes, Mr John Maher, appointed by the Board as a Director on
Slide 22: Item 3a: Proxy and direct votes
Item 3a Election of Mr John Maher Proxy and direct votes – Item 3a FOR OPEN AGAINST TOTAL Votes 149,024,042 309,551 1,499,351 150,832,944 67.0% of % vote 98.8% 0.2% 1.0% issued capital The Chairman of the Meeting will be voting open proxies in favour of the resolution Note: A voting exclusion applie
Slide 23: Item 3b: Election of Mr Peter Knoblanche
Item 3b Election of Mr Peter Knoblanche To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 14.4, article 11.3(c) of the Constitution and for all other purposes, Mr Peter Knoblanche, appointed by the Board as a
Slide 24: Item 3b: Proxy and direct votes
Item 3b Election of Mr Peter Knoblanche Proxy and direct votes – Item 3b FOR OPEN AGAINST TOTAL Votes 144,857,964 314,804 5,659,167 150,831,935 67.0% of % vote 96.0% 0.2% 3.8% issued capital The Chairman of the Meeting will be voting open proxies in favour of the resolution Note: A voting exclusion
Slide 25: Item 4: Grant of Performance Rights to the MD & CEO
Item 4 Grant of Performance Rights to the MD & CEO To consider and, if thought appropriate, pass the following resolution as an ordinary resolution: “That, for the purpose of ASX Listing Rule 10.14 and for all other purposes, approval be given to grant 170,008 performance rights under the GrainCorp
Slide 26: Item 4: Proxy and direct votes
Item 4 Grant of Performance Rights to the MD & CEO Proxy and direct votes – Item 4 FOR OPEN AGAINST TOTAL Votes 143,713,070 311,445 6,329,659 150,354,174 66.8% of % vote 95.6% 0.2% 4.2% issued capital The Chairman of the Meeting will be voting open proxies in favour of the resolution Note: A voting
Slide 27: Poll Voting
| Poll Voting
Slide 28: Meeting closed
| Meeting closed
Slide 29: GrainCorp Corporate Office
GrainCorp Corporate Office Level 28 175 Liverpool Street Sydney NSW 2000 Australia Postal address PO Box A268 Sydney South NSW 1235 Australia graincorp.com.au 29