Inghams Group Ltd. · ASX:ING
Inghams — Shareholder Meeting (November 2024)
16 slides from Inghams's shareholder meeting presentation, Nov 14, 2024
Slide 1: 2024 Annual General Meeting
2024 ANNUAL GENERAL MEETING 14 NOVEMBER 2024
Slide 2: Disclaimer
DISCLAIMER Important notice The material in this presentation is general background information about the activities of Inghams Group Limited (Inghams) and its subsidiaries (Inghams Group), and is current at the date of this presentation, unless otherwise noted. The content is information given in s
Slide 3: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY We respectfully acknowledge the traditional owners both past and present, as custodians of this land we are meeting on today. Inghams 2024 Annual General Meeting Artist: Kelly Taylor www.ktaboriginalfineart.store 3
Slide 4: Agenda
AGENDA 1 CHAIR’S ADDRESS Helen Nash 2 CEO & MANAGING DIRECTOR’S ADDRESS Andrew Reeves 3 FORMAL BUSINESS OF THE MEETING Helen Nash 4 GENERAL BUSINESS Helen Nash Inghams 2024 Annual General Meeting 4
Slide 5: Chair's Address
CHAIR’S ADDRESS HELEN NASH
Slide 6: Chair's Address
CHAIR’S ADDRESS Record FY24 financial results Our people & culture ESG highlights Board & Remuneration update Looking ahead Inghams 2024 Annual General Meeting 6
Slide 7: CEO & Managing Director's Address
CEO & MANAGING DIRECTOR’S ADDRESS ANDREW REEVES
Slide 8: Highly Diversified Network
HIGHLY Largest poultry company across Australia and New Zealand DIVERSIFIED NETWORK >30% market share in Australia and New Zealand respectively Geographically diverse network FACILITIES/FARMS Biosecurity import barrier Farms Hatcheries Ensures continuity of supply to meet our customers’ needs Feedmi
Slide 9: Inghams Strategy
INGHAMS STRATEGY OUR AMBITION IS TO BE OUR CUSTOMERS’ AND CONSUMERS’ FIRST CHOICE FOR POULTRY ACROSS AUSTRALIA AND NEW ZEALAND § Our purpose is to provide deliciously good food in the best way, and is defined both by the products that we produce, and by the great outcomes we strive to create § Our s
Slide 10: Record FY24 Financial Results
RECORD FY24 FINANCIAL RESULTS X X X X CORE POULTRY VOLUME REVENUE UNDERLYING EBITDA1 NET PROFIT AFTER TAX2 476.4KT $3,262.0M $240.1M $101.5M +2.8% ON FY23 +7.2% ON FY23 +30.8% ON FY23 +68.0% ON FY23 DIVIDENDS PER SHARE PAYOUT RATIO 20.0 CENTS +37.9% ON FY23 73.1% 75.9% IN FY23 1. Pre AASB 16 2. As R
Slide 11: Woolworths Supply Agreement (Australia)
WOOLWORTHS SUPPLY AGREEMENT (AUSTRALIA) § Agreed in-principle commercial terms for a new multi-year supply agreement for Australia with Woolworths § Remain Woolworths #1 poultry supply partner § The key provisions of the new agreement will take effect in two tranches during FY25, on satisfactory com
Slide 12: Bostock Brothers (NZ) Acquisition and Integration Update
BOSTOCK BROTHERS (NZ) ACQUISITION AND INTEGRATION UPDATE Overview § Established in 2014, Bostock Brothers Limited (BBL) is the only certified organic producer of poultry in New Zealand § BBL’s operations are located in Hastings, on the central east coast of the North Island, approximately four hours
Slide 13: Investing in Our Business
INVESTING IN OUR BUSINESS STRENGTHENING OUR NETWORK Acquired Bolivar (SA) Primary Processing facility Acquired Bromley Park Hatcheries (BPH) (NZ) § Strategically important investment, providing greater § Compelling opportunity to drive improved performance control over future planning of operations
Slide 14: Trading Update – Highlights
TRADING UPDATE – HIGHLIGHTS Reaffirming guidance1 for FY25: - Underlying EBITDA (pre AASB 16) in the range of $236 - $250 million, representing flat to ~6% growth on normalised FY24 (52- 1 week) result - Core poultry volume change of -1% to -3% on FY24 (normalised) Covered 100% of 1st tranche of WOW
Slide 15: Trading Update – Volume & Price
TRADING UPDATE – VOLUME & PRICE Average Weekly Group Core Poultry Volume (kt) § FY25 YTD1 group average weekly core poultry volume growth of -4.0% versus 1H24 and +1.9% versus 2H24: - Retail channel growth reflects effect of WOW volume transition, strong growth in Australian Retail (ex-WOW) with new
Slide 16: Compelling Investment Proposition
COMPELLING INVESTMENT PROPOSITION INGHAMS PROVIDES INVESTORS WITH A ROBUST AND ATTRACTIVE EARNINGS PROFILE Operates at scale in an Affordable, healthy, Decades long Grow category attractive market with versatile and widely partnerships with attractiveness by positive growth favoured protein of major