Cobram Estate Olives 2024 AGM highlights

Cobram Estate Olives (ASX:CBO), Australia's largest integrated olive producer, recently held its 2024 Annual General Meeting. The company discussed its financial performance and future strategies. Operating in Australia and the USA, CBO is known for its high-quality extra virgin olive oil.

Cobram Estate Olives' future outlook and strategy

Cobram Estate Olives (ASX:CBO) reported significant financial growth in FY2024 with increased revenue and profitability. The company's proprietary Oliv.iQ® system enhances its production and sustainability efforts. CBO is committed to expanding its presence in the USA, leveraging the larger market potential, and increasing local production. In Australia, the company is growing its mature grove area to boost oil supply. Looking forward, CBO expects strong sales in FY2025 and plans to allocate resources to expand operations in the USA while rewarding shareholders with dividends. Their new 2030 Sustainability Strategy aims to further improve environmental impact. The AGM underscored the company's leadership, market position, and commitment to innovation and sustainability.

Executive commentary from Cobram Estate Olives

FY2024 was a successful year, with robust demand for CBO's products. The company reported an EBITDA of $66.7 million and record cash flow from operations amounting to $64.1 million.