Full Year 2024 Ricegrowers Ltd Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Allan Franklin - Canaccord Genuity Group Inc - Analyst : Yeah. Morning, Paul, morning, Dimitri. Thank you for your time and all the context, and obviously great results. So well done on that. Just three from me please. Just perhaps kicking off (technical difficulty) and I appreciate it's still pretty early on in the piece. But just wouldn't mind, conversational, just context around if you were to be contracted with farmers, how does that flow through to cost recovery and asset financing?

Question: Allan Franklin - Canaccord Genuity Group Inc - Analyst : Yeah, sorry. Yeah.

Question: Allan Franklin - Canaccord Genuity Group Inc - Analyst : Yeah, sure. Thank you. Just perhaps on the international side, obviously, a very strong print there. Just any sort of additional color you can make in terms of next steps for growth there, or do you feel you're able to hold profits at that level for international in the next little period?

Question: Allan Franklin - Canaccord Genuity Group Inc - Analyst : And then perhaps just the last one on M&A. It's obviously been a couple of periods since last transacting balance sheets, obviously, in a pretty clean position. Just any comment on changed intentions on M&A, and/or do you feel that the current macro conditions might be creating more opportunities as some smaller operators start feeling the pinch more than they have historically?

Question: Allan Franklin - Canaccord Genuity Group Inc - Analyst : Powerful. Thank you.

Question: Paul Jensz - AgFood Fund - Analyst : Thank you, Paul. Dimitri, main question is just, I suppose, the flow on effects with the change there with the desk, with the review of the A and B class shares. Are you able to give us an update on that review that I think is due sometime this year? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 27, 2024 / 11:30PM, SGLLV.AX - Full Year 2024 Ricegrowers Ltd Earnings Call

Question: Paul Jensz - AgFood Fund - Analyst : Thank you.

Question: John Burgess - RaaS Research Group Pty Ltd - Analyst : Thanks. Just a couple of questions on the expense line items, if I could. I guess, freight, obviously it's come off a tariff. Do you think there's still some room to bring that, obviously with Red Sea issues, but to bring that cost down over the next 12 to 24 months?

Question: John Burgess - RaaS Research Group Pty Ltd - Analyst : Great, thanks. And a small one. I noticed that the energy costs spiked in the first half of 2024 and have come off. What divisions use a lot of energy and what are you seeing in energy prices going forward? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 27, 2024 / 11:30PM, SGLLV.AX - Full Year 2024 Ricegrowers Ltd Earnings Call

Question: John Burgess - RaaS Research Group Pty Ltd - Analyst : Right. And finally, just your thinking on the special dividend, what sort of drove that special dividend in your mind?

Question: John Burgess - RaaS Research Group Pty Ltd - Analyst : Okay, great. Thanks a lot.

Question: Finola Burke - RaaS Research Group Pty Ltd - Analyst : Thank you. Congratulations, Paul and Dimitri, on such a fantastic result. I just have a couple of questions. With 70% of your group sales now in branded product, can we expect to see this expand, and what sort of impact could we expect to see that on margin as a result and over time? And then secondly, just wanted to give a new flag that you're aiming to deliver a similar or consistent result in 2025. Is it reasonable to expect a similar quantum of underlying dividend coming into this year?

Question: Finola Burke - RaaS Research Group Pty Ltd - Analyst : Thank you very much.