Bapcor (BAP) AGM 2025 summary

Opening remarks and agenda

• Meeting opened by Executive Chair and CEO, with acknowledgment of traditional custodians and introduction of directors and executive team.

• Hybrid format enabled both in-person and online participation, with clear instructions for voting and Q&A.

• Agenda included financial report review, director re-elections, remuneration resolutions, governance items, and general questions.

Financial performance review

• FY2025 statutory net profit after tax was $28.1 million, with group revenue of $1.9 billion, down 1.5% from prior year.

• Pro-forma NPAT was $80.4 million, an 8.4% reduction on FY24; significant items of $52.3 million after tax were recognized, mostly non-cash, due to IT and asset write-offs, uncollectable receivables, and inventory valuation changes.

• Dividend declared at 5.5 cents per share, fully franked, with a 57% payout ratio.

• Cost-saving measures were delivered, but trading was disrupted by business simplification and restructuring.

• Final quarter performance was poor, especially in trade, with parts and equipment sales below expectations.

Dividend announcements

• Dividend of 5.5 cents per share, fully franked, representing a 57% payout ratio.