Brambles Limited (BXB) Q4 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.477 Good morning, everyone. I'd like to welcome you to Bramble's full year results presentation 00:00:04.477 -- 00:00:06.717 for FY24. 00:00:06.740 -- 00:00:11.146 I'll start this morning by presenting an overview of our performance for the year, provide 00:00:11.146 -- 00:00:15.472 further details on our newly announced capital management initiatives and our revised 00:00:15.472 -- 00:00:17.755 investor value proposition. 00:00:17.755 -- 00:00:22.041 Then I'll touch on the operating environment, update on our transformation programme 00:00:22.041 -- 00:00:28.587 and outlook for FY25 before handing over to Joaquin for a detailed review of our financials. 00:00:29.663 -- 00:00:34.713 Beginning on slide three and our highlights for the year, in FY24, our performance 00:00:34.713 -- 00:00:38.360 was strong across all aspects of the business. 00:00:38.360 -- 00:00:42.589 The financial results delivered on our investor value proposition were sales revenue 00:00:42.589 -- 00:00:44.593 growth of 7%, 00:00:44.593 -- 00:00:51.122 significant operating leverage, and a material improvement in free cash flow generation. 00:00:51.618 -- 00:00:54.222 Underlying profit growth of 17% 00:00:54.222 -- 00:00:57.568 and free cash flow before dividends of US$882.8 00:00:57.568 -- 00:00:59.191 million 00:00:59.191 -- 00:01:03.238 were both ahead of our FY24 guidance. 00:01:03.238 -- 00:01:08.126 This reflected ongoing commercial discipline to recover the cost to serve and structural 00:01:08.126 -- 00:01:12.269 improvements in asset efficiency during the year. 00:01:12.543 -- 00:01:18.016 These results underpinned the 30% uplift in total dividends, which increased to 34 00:01:18.016 -- 00:01:24.607 US cents per share in FY24 and resulted in a dividend yield...