Nufarm Ltd (NUFMF) Q4 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.031 Thank 00:00:02.174 -- 00:00:07.843 you for standing by and welcome to the New Farm Limited FY24 results call. 00:00:07.843 -- 00:00:10.006 All participants are in a listen-only mode. 00:00:10.006 -- 00:00:13.471 There will be a presentation followed by a question and answer session. 00:00:13.471 -- 00:00:17.277 If you wish to ask a question, you will need to press the star key followed by the number 00:00:17.277 -- 00:00:21.423 one on your telephone keypad. I would now like to hand the conference over to Mr. 00:00:21.423 -- 00:00:25.426 Greg Hunt, CEO. Please go ahead. 00:00:25.489 -- 00:00:28.414 Thank you, Harmony, and good morning, everyone. 00:00:28.414 -- 00:00:33.671 Welcome to the New Farm's financial year 24 results presentation. 00:00:33.671 -- 00:00:38.739 I'll just take a minute to draw your attention to the disclaimer 00:00:38.739 -- 00:00:44.186 on slide two and in particular the statement relating to 00:00:44.186 -- 00:00:46.807 forward-looking statements. 00:00:47.531 -- 00:00:53.580 Financial year 2024 was a tough one for the crop protection industry. 00:00:53.580 -- 00:00:58.267 Despite the challenges, New Farm continued to make good progress with our innovation 00:00:58.267 -- 00:01:03.418 and growth strategies. EBITDA was at the midpoint of the revised guidance that we 00:01:03.418 -- 00:01:06.281 gave on the 15th of August. 00:01:06.281 -- 00:01:11.307 We had an outstanding result on net working capital with a 30% reduction on 00:01:11.307 -- 00:01:16.232 the prior year. This had a similar impact on reducing debt. 00:01:16.232 -- 00:01:20.096 We finished the year with net debt of $635 million, 00:01:20.096 -- 00:01:25.282 which was 25% below the prior year. Net leverage was two times 00:01:25.282 -- 00:01:31.139...