The ASX reporting season for 2025 has only just finished up, but ASX-listed companies have already set their sights on the next big thing: the AGM (annual general meeting) season.
Image source: Getty Images
When is the ASX AGM season?
In Australia, the AGM season is typically a two-month period from October to November.
Companies, including those in the S&P/ASX 200 Index (ASX: XJO) like investor favourites Pilbara Minerals (ASX: PLS) and CSL Ltd (ASX: CSL), are required to hold an AGM and present financial statements within five months after their financial year ends. This means any companies whose financial year ended on 30 June have until Friday, 28 November to hold their AGM.
Many of these companies will need to begin preparing their Notice of Meeting (NOM) and other materials in advance of their AGM for shareholders to review. Usually this would start in late September.
It's an important date for the diary for investors because these AGMs give shareholders the opportunity to review the past year's performance. Investors can also vote on key decisions, ask questions, and even have their say on company policies.
Here's what we can expect from the AGM season in 2025.
Earnings guidance and upgrades
Many ASX-listed companies released a conservative forward earnings guidance in their FY25 financial results.
Given that borrowing costs are easing, cost-of-living pressures have come off the boil, and consumer spending is expected to accelerate, analysts are quietly confident that the AGM season could also see earnings upgrades for FY26.
AGMs could even become catalysts for a surge in market sentiment if companies deliver revised, and much more optimistic, outlooks.
ESG strategies in focus
ASX-listed companies are expected to disclose clear and relevant sustainability and Environmental, Social, and Governance (ESG) strategies to enable shareholders to make informed investment decisions.
An investor emphasis on governance continues to intensify, and remuneration of company executives continues to be a hot topic.
Investors can expect AGMs to shine a spotlight on pay transparency and fairness. Remuneration reports should be easier to understand. They should also be clearly linked to company performance and be consistent with the company's scale and industry.
A balanced board composition will also be a focus point. Boards are expected to be able to demonstrate that they have a mix of relevant skills and experience. They also need to demonstrate a mix of diversity, range of age, gender, and geography.
Hybrid AGM meetings
Hybrid AGMs are most popular among ASX 200 companies already, combining virtual access with in-person engagement.
But regulators now require that any virtual attendees in these hybrid meetings have equivalent participation rights. This means they must be able to vote, ask questions, and interact just like those who are attending physically.
