GrainCorp Limited (GNC) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Grain Corps Limited FY24 results conference call. All participants are in a listen only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Robert Spurway, Managing Director and CEO. Please go ahead. Good morning, everyone, and welcome to the Grain Corp Annual Results for Financial Year 2024. We're presenting to you today from Sydney, and I want to acknowledge the Gadigal people of the Eora Nation, and we pay our respects to Elders past and present. For those of you following online, I'll call out the page numbers as we go, starting with page four. This morning, I'll share with you the results highlights, some comments on strategy and growth, Ian Morrison, our Chief Financial Officer, will then talk through more detail on the financial performance and cover off details of the strength of our balance sheet and our capital management initiatives. And I'll close with some comments on the outlook and recap and conclusion. Moving to page five, highlights for the year include financial results of an underlying EBITDA of $268 million. Pleasingly, we delivered record oilseed crush volumes of 540,000 tonnes. Earlier in the year, we completed and signed an MOU with Ampol and IFM investors as we continue to progress our ambitions in the agri-energy space. We completed our expansion and acquisition of animal nutrition portfolio company XF Australia. That also allowed us to increase our average through the cycle earnings to $320 million. We finished the year with an incredibly strong balance sheet with $337 million in core cash, and that has...