1 / 64

Annual General Meeting Thursday 10 March 2005

Annual General Meeting Thursday 10 March 2005. Brendan Stewart. Chairman. Order of meetings. Annual General Meeting of AWB Limited Meeting of A class shareholders to amend Articles of the AWB Limited Constitution

gloria-wood
Download Presentation

Annual General Meeting Thursday 10 March 2005

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Annual General Meeting Thursday 10 March 2005

  2. Brendan Stewart Chairman

  3. Order of meetings • Annual General Meeting of AWB Limited • Meeting of A class shareholders to amend Articles of the AWB Limited Constitution • Meeting of A class shareholders (QLD/VIC/SA/NT/TAS) to elect a Director of AWB (International) Limited

  4. Incoming AWB Limited Directors Tony Howarth John Schmoll

  5. Andrew Lindberg Managing Director

  6. AWB’s strategy has been demonstrated through its financial performance • Substantial increase in net profit after tax - $96.9 million, up 120% on the previous year • Earnings per share of 28.8 cents, up 81% • Largest ever national wheat crop of 25.2 million tonnes (mt), up from 9.7 mt in 2002/03 • Second largest ever export program, with 19.9 mt received by the Pool • Fully franked dividend of 25 cents per share paid during 2004 • Landmark integration targets exceeded, with cost synergies and finance growth of $13 million

  7. Growing Horizons:AWB’s vision is to be Australia’s leading agribusiness Three strategic areas of focus: • Grains & Commodities • Strategy in place to enhance the differentiated quality position of Australian wheat • Continue in driving supply chain efficiencies • Rural Services • Continuous improvement of procurement and supply processes • Expand Landmark’s presence – targeting new areas of growth • Financial Services • Retain leading position in Harvest Finance Market • Target growth within broader agribusiness market

  8. Solid results from Landmark business • Delivered a 64% PBT uplift over the previous year • Increased the Rural Finance book by 34%, to more than $1 billion – with a balance today of approximately $1.2 billion • 85% of Landmark deposits converted to an AWB backed prospectus – deposits now stand at close to $600 million • Strengthened insurance supplier arrangements with a 20% increase in Gross Written Premium • Record real estate sales of more than $1 billion, up by 31% • Record prices for beef and lamb resulted in the Livestock business seeing a 17% growth in profitability • 13% increase in Merchandise and Fertiliser sales

  9. Excellent results from the second largest ever Pool program • Second largest export program ever – 19.1mt for year ended November 2004 • Sales of 2.5mt to China – first significant business to that market for 8 years • Record sales to Indonesia of more than 3mt • Continual trade with Iraq- more than 1.5mt in sales • Reduction for the sixth consecutive year of grain supply chain costs • Above benchmark performance in our foreign exchange management for the National Pool

  10. Performance from other grain related business streams Trading: • Excellent result from Chartering division; almost 50% of Pool volumes sold with a freight component • Geneva based International Trading business nearly doubled trading volumes to two million tonnes during 2003/04 • International Trading business has been extended with a new office in New Delhi

  11. Performance from other grain related business streams cont… Financial Services: • AWB retained over 70% market share in the highly competitive Harvest Finance market • AWB Harvest Finance achieved the highest possible short term credit ratings through the company’s new ring-fenced structure Supply Chain: • AWB GrainFlow significantly increased receival volumes, with 1.8mt during 2003/04 • Increased supply of Australian wheat by 50% to Five Star Flour Mills in Egypt over the past year

  12. Supply Chain Developments • Joint venture with GrainCorp aimed at reducing supply chain costs for export grain • CBH – Western Australia • Supply chain and infrastructure issues remain a challenge; immediate and ongoing investment by Government and industry required

  13. Outlook 2005/06: • Assuming normal seasonal conditions, wheat production expected to average levels around 22-23mt • Estimated Pool Returns for 2005/06 of $170-$180 per tonne for APW – price direction largely dependent on Northern Hemisphere crop • Lamb prices set to remain positive with increased demand from export markets • Beef prices tipped to tail off with increased export competition from North and South America • Promising rural Real Estate market • Strong medium term growth for Financial Services business • Reduced commodity prices expected to impact Rural Services business

  14. Going forward… • Despite a difficult outlook, we are confident that Australian agriculture can be globally competitive • We have “comparative advantage” • Freight advantage to Asian region • Progress on trade reform will improve market access • AWB and Landmark can continue to capitalise on opportunities with our business model

  15. Hamish Gidley-Baird Returning Officer

  16. 1st Meeting: Annual General Meeting of AWB Limited Annual General Meeting of AWB Limited • Financial Report, Directors’ Reports & Auditor’s Report • Election of directors • Special resolutions

  17. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(a): Election of a director of AWB Limited - WA

  18. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(a): Election of a director of AWB Limited – WA Candidate: Mr Christopher Moffet

  19. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(b): Election of a director of AWB Limited – VIC/TAS

  20. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(b): Election of a director of AWB Limited – VIC/TAS Candidates: Mr Christopher Hewitt Mr Warrick McClelland

  21. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(c): Election of a director of AWB Limited – NSW/ACT

  22. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(c): Election of a director of AWB Limited – NSW/ACT Candidates: Mr John Simpson Mr Geoffrey Brennan

  23. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(d): Election of a director of AWB Limited – B class

  24. 1st Meeting: Annual General Meeting of AWB Limited Item 1.2(d): Election of a director of AWB Limited – B class Candidate: Mr Peter Polson

  25. 1st Meeting: Annual General Meeting of AWB Limited Proxy position for director elections as at 5pm (Melbourne time) 8th March 2005:

  26. 1st Meeting: Annual General Meeting of AWB Limited Proxy position for director elections as at 5pm (Melbourne time) 8th March 2005:

  27. Voting Procedures

  28. 1st Meeting: Annual General Meeting of AWB Limited

  29. 1st Meeting: Annual General Meeting of AWB Limited Proxyholder Ref: CHM Proxyholder: CHAIRMAN OF THE MEETING AWB LIMITED ABN: 99 081 890 459 ANNUAL GENERAL MEETING 10th March 2005 THIS FORM SUMMARISES THE VOTES GIVEN TO YOU AS PROXYHOLDER FOR THE ABOVE MEETING. PLEASE NOTE THAT IF THE DONOR OF A PROXY PERSONALLY ATTENDS A MEETING AND VOTES, YOUR VOTING ENTITLEMENT WILL BE APPROPRIATELY REDUCED.

  30. 1st Meeting: Annual General Meeting of AWB Limited Proxyholder Ref: CHM Proxyholder: CHAIRMAN OF THE MEETING AWB LIMITED ABN: 99 081 890 459 ANNUAL GENERAL MEETING 10th March 2005 THIS FORM SUMMARISES THE VOTES GIVEN TO YOU AS PROXYHOLDER FOR THE ABOVE MEETING. PLEASE NOTE THAT IF THE DONOR OF A PROXY PERSONALLY ATTENDS A MEETING AND VOTES, YOUR VOTING ENTITLEMENT WILL BE APPROPRIATELY REDUCED.

  31. 1st Meeting

  32. 1st Meeting

  33. 1st Meeting: Annual General Meeting of AWB Limited

  34. 1st Meeting: Annual General Meeting of AWB Limited

  35. 1st Meeting

  36. 1st Meeting

  37. 1st Meeting: Annual General Meeting of AWB Limited

  38. 1st Meeting: Annual General Meeting of AWB Limited Special Resolutions: • Composition of the AWB (International) Limited Board – Additional directors • Tenure of directors of AWB Limited

  39. 1st Meeting: Annual General Meeting of AWB Limited Item 1.3(a): Composition of the AWB (International) Limited Board Additional Directors

  40. 1st Meeting: Annual General Meeting of AWB Limited Item 1.3(b): Tenure of Directors of AWB Limited

  41. 1st Meeting: Annual General Meeting of AWB Limited Proxy position for two special resolutions for A & B class shareholders - as at 5pm (Melbourne time) 8th March 2005:

  42. 1st Meeting: Annual General Meeting of AWB Limited Annual General Meeting: A Class Shareholders Meeting:

  43. 1st Meeting: Annual General Meeting of AWB Limited Annual General Meeting: A Class Shareholders Meeting:

More Related