Elders Limited (ELD) Q2 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.162 -- 00:00:06.395 Thank you very much and welcome to all for the Elders half year results presentation 00:00:06.395 -- 00:00:12.451 for financial year 24. Thank you for joining Paul and myself for the session today. 00:00:12.451 -- 00:00:17.007 From an Elders viewpoint, this is the first half of our fourth eight point plan. 00:00:17.007 -- 00:00:22.177 first year of our fourth APON plan. The ELTS philosophy since the first APON plan 00:00:22.177 -- 00:00:23.940 in 2014 00:00:23.940 -- 00:00:28.409 has been to control what we can control and not to dwell on what we can't control. 00:00:28.409 -- 00:00:32.456 To have a cost and capital structure to allow us to make good returns in bad years and 00:00:32.456 -- 00:00:37.726 make great returns in good years. The FY24 year, full year guidance 00:00:37.726 -- 00:00:42.862 is an example of acceptable returns in difficult market and cost conditions and 00:00:42.862 -- 00:00:48.469 particularly in quarter one and we will go to the detail of that through the presentation. 00:00:48.469 -- 00:00:53.776 We use our multiple diversifications by product, service, geography, crop segment, 00:00:53.776 -- 00:00:58.883 commercial model and channel to market and our financial discipline to 00:00:58.883 -- 00:01:02.027 deliver consistent and high returns for our stakeholders. 00:01:02.027 -- 00:01:04.932 In summary, we aim to control what we can control. 00:01:04.932 -- 00:01:09.758 Over the first six months of our fourth eight-point plan, we experienced an exceptionally 00:01:09.758 -- 00:01:15.085 difficult first quarter with improving market conditions across eastern Australia 00:01:15.085 -- 00:01:19.651 from the start of this calendar year or our second quarter. 00:01:19.651 -- 00:01:24.257 Our view in November las...