Telstra Group (TLS) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a welcome to shareholders, acknowledgment of traditional owners, and an outline of the agenda and voting procedures.

• Housekeeping matters, including lunch arrangements and instructions for asking questions and voting, were explained.

• Chair and CEO presentations opened the meeting, followed by discussion of financial statements, director elections, CEO equity allocation, and the remuneration report.

Financial performance review

• FY2025 saw strong reported and underlying growth, with EBITDA up 14% to $8.6B, profit up 31% to $2.3B, and EPS up 34%.

• Underlying EBITDA reached $8.6b, up 4.6%, with a 7% CAGR from FY21 to FY25.

• NPAT rose to $2.3b, a 31% increase, and EPS grew 34% to 18.9cps.

• Dividend increased 5.6% to $0.19 per share, with a $750M share buyback completed and a new $1B buyback commenced.

• Core fixed costs reduced by $306m in FY25, totaling $428m since FY22.

Board and executive committee updates

• Board expanded from three to four committees, splitting Audit and Risk into separate Audit and Risk & Sustainability Committees.

• Changes in committee membership and board elections/re-elections were addressed, with strong support for continuity and leadership.

• Board comprises nine directors, including the Chair and CEO.