Murray Irrigation 2025 Annual General Meeting

2 December 2025

Murray Irrigation delivers strong financial result

Murray Irrigation hosted its 2025 Annual General Meeting (AGM) at the Deniliquin RSL Club on Thursday 27 November.

More than 30 shareholders participated in the meeting, both in person and online.

There was just one resolution put to the vote during the AGM, which related to the cancellation of shares resulting from applications by shareholders. This resolution was carried.

These voting results, together with a recording of the proceedings, can be found on Murray Irrigation's website here: https://www.murrayirrigation.com.au/AGM.

Directors-Elect Phil Snowden and Lachlan Marshall, who were returned to the Board in this year's Director Election, were also confirmed during the formal proceedings.

Following the AGM formalities, Murray Irrigation CEO Ron McCalman presented shareholders with a comprehensive summary of the Company's activities and achievements for the 2024/25 financial year, including financial and operational performance.

In this regard, Mr McCalman reported that Murray Irrigation achieved a stronger than expected financial outcome for the 2024/25 period, with a net profit totalling $17.05 million. This positive result, which was $16 million ahead of budget, was largely driven by the Company's diversified revenue model.

Furthermore, the business delivered 895 gigalitres (GL) of water on-farm during this 12-month period, and a combined 203GL for river operations (167GL) and to the environment (36GL).

"Importantly, we continued to deliver quality services throughout the year, with water delivered on time and in full for 98% of the orders," Mr McCalman noted. 

Mr McCalman also outlined the extensive work Murray Irrigation is undertaking to address future challenges facing the Company, and irrigators more broadly, including ageing infrastructure, increasing government charges and general rising costs across the board, the forecasted increase in flood events, and water buybacks.   

"Murray Irrigation continues to proactively plan and prepare for challenges that are predicted to emerge in the coming years, while focusing on continuing to deliver stakeholder value and honouring commitments made to both our shareholders and customers," he said.  

A copy of the CEO’s presentation, together with a short video summarising the financial year’s achievements, can be found on the Company’s website here: https://www.murrayirrigation.com.au/AGM.

At the conclusion of the AGM, the Murray Irrigation Board held its final Board meeting for the year, with the first item on the agenda being the appointment of Chair, Deputy Chair and Committee Chairs.

These appointments remain unchanged and are as follows:

Chair: Phil Snowden

Deputy Chair: Geoff McLeod

Remunerations and Nominations Committee Chair: Trisha Gorman

Audit and Risk Management Committee Chair: Robert Burbury

Water Policy and Management Committee Chair: Geoff McLeod

Water Risk Committee Chair: Robert Burbury

National Irrigators’ Council delegate: Gabrielle Coupland

“These Committees and delegations are an important element of the Company’s governance structure”, Mr Snowden said.

“They ensure that key initiatives and processes have been discussed and are understood at a committee level prior to coming to the Board for discussion and approval.

“I congratulate these Directors on their re-appointments as Committee Chairs and delegates and am confident their skill sets will continue to bring value to the Committees and, in turn, the Board.”