Morning, ladies and gentlemen. My name is John Eales, and I'm the Chair of Trajan Group Holdings Limited. I begin today by acknowledging the traditional custodians of the land on which we meet today and pay my respects to their elders, past and present. I extend that respect to Aboriginal and Torres Strait Islander peoples who have joined us today. It is my pleasure to welcome you to the 2023 Annual General Meeting of Trajan Group Holdings Limited. It is now 10:00 A.M., Australian Eastern Daylight Saving Time. As we have a quorum, I declare the meeting open. Today's meeting is being held virtually by the Computershare meeting platform, where attendees can watch a live webcast of the meeting, and shareholders and proxies can ask questions and submit votes online.
For those participants joining online and who might be unfamiliar with some of the functions of Computershare's platform, such as asking questions and how to vote, we will display instructions on the screen shortly. Please note that this meeting is being recorded. I would now like to introduce my fellow directors: Stephen Tomisich, founder, CEO, and Managing Director. Robert Lyon, Executive Director and General Counsel. Sara Watts, Non-Executive Director and Chair of the Audit and Risk Committee. Tiffiny Lewin, Non-Executive Director, and Dr Rohit Khanna, Non-Executive Director. Also in attendance today, we have Alistair Hodges, CFO and Joint Company Secretary. The company's auditor, RSM Australia, is represented here by Billy Chan, whom I also have the pleasure of welcoming today. The auditor will be available to answer questions on the conduct of the audit and the audit report for the year ended 30th June 2023.
Representatives from Computershare, our share registry provider, are also in attendance. Procedural matters. I'll start today's meeting by walking you through some procedural guidelines for voting and question submission. After that, I'll provide my annual chairman's address before moving to the formal business of the meeting. This year, we are doing things a little differently. As we announced a few weeks back, we are holding our inaugural shareholder day on October 30th, where Stephen Tomisich and other company leaders will present different aspects of the Trajan business. We feel that this new format will enable us to provide a more meaningful and tangible experience of Trajan's business for our shareholders. Given this event, and that there has been no material change to our business since we presented our full-year results five weeks ago, there will be no CEO presentation today.
We encourage shareholders to join us in person at our Ringwood headquarters and Melbourne manufacturing site later this month. We'll be making the presentations available by the ASX and on our investor portal. The notice of meeting was made available to shareholders on 1st September 2023. I propose that the notice of meeting and explanatory memorandum be taken as read. Proxies received prior to the meeting will be shown on the screen for each resolution dealt with today. For those shareholders who have not submitted a proxy for today's resolutions, once I have declared the poll open, you'll be given the opportunity to vote on all resolutions. As stated in the notice of meeting, as chairman, I intend to vote those proxies, those proxies left to the discretion of the chairman in favor of all resolutions.
Resolution one is subject to a voting exclusion, as detailed in the notice of meeting. This exclusion will be considered when the poll is conducted. Finally, I note that shareholders were afforded the opportunity to submit written questions to the auditor, and I advise that the auditor has received no questions in writing. Only shareholders, validly appointed proxies, and corporate representatives are entitled to ask questions. To submit a written question, you may do so at any time during the meeting via the speech bubble icon on your screen. Type your question in the chat box on the right of the screen and then select Send. Confirmation that your message has been received will appear above. Please note that while you can submit written questions from now on, I will not address them until the relevant time in the meeting.
While time constraints may prevent us from answering all questions, we'll do our best to address all your questions during the meeting. Please also note that your questions may be moderated or if we receive multiple questions on one topic, amalgamated together. For those shareholders who wish to ask a question verbally, please follow the instructions shown below the broadcast window on the online platform, which will take you to a phone number to call. If you're asking a verbal question, please state your full name before asking your question. Please limit your questions to only one to two questions at a time, and then rejoin the queue to allow others to ask questions. To provide you with sufficient time to vote, I now declare voting open on all items of business.
Voting today will be conducted by way of poll on all items of business, and Computershare will act as the independent returning officer. For those eligible to vote, as the poll is open, a voting icon is available on your screen. Selecting this icon will bring up a list of resolutions and present you with voting options. You are free to submit your votes at any time. To cast your vote, simply select one of the options. There is no need to hit Submit, as the vote is automatically recorded. Please ensure you cast a vote for all resolutions. You'll receive a vote confirmation notification on your screen. To change or cancel your vote, click the link Click Here to Change Your Vote at any time until the poll is closed.
Votes may be changed up to the time I declare voting is closed. I'll give you a warning before I move to close voting. Now I'm gonna move to my chairman's address. I'm pleased to present my report for the Trajan 2023 Annual General Meeting, and share our commercial achievements, as well as the profound impact our products have on enhancing the health and well-being of our communities. As we reflect on our journey, Trajan has experienced strong growth, doubling in size since our IPO just over two years ago. As we reported five weeks ago, our full-year revenue exceeded AUD 162 million, with our normalized EBITDA exceeding AUD 21 million. This growth reflects our commitment to building a healthcare company of substantial size and scale to have a global presence.
As we flagged at the full-year results announcement in August, the business has experienced continued softness in orders in Q1. This is mostly related to the ongoing destocking activity in the downstream supply chain. The expectation is for some lingering impact in Q2, and a return to the long-term growth trend in H2, driven by the continued underlying demand in the end markets. So while we expect some impact on our H1 results, we maintain our full-year guidance. Trajan's accomplishments are the result of robust organic expansion, the contributions of our acquired businesses, and the successful commercialization of innovative products that address the evolving needs of our customers and their customers alike. Ultimately, people like you and me. Our products provide invaluable data and insight into the safety of the food we consume, the water we drink, and the environment we live in.
They aid in the process of early disease diagnosis and the prevention of future illnesses. Trajan's approach is rooted in a dual commitment to innovation and collaboration. By partnering with our customers, academic institutions, and research organizations, we have harnessed collective knowledge and expertise to propel our research and development endeavors, both within and beyond the general scope of our business. This strategy has not only allowed us to expand our business, but has also informed the evolution of our technology and products. It has paved the way for us to explore new markets and cultivate enduring customer relationships based on invaluable insights and a collaborative approach to product development. In environmental applications, Trajan's products are used in monitoring and assessing pollution levels, identifying contaminants, and evaluating their impact on ecosystems.
In Germany, our team is engaged in an environmental testing program with a leading European institute to measure mineral oil contaminants in food. Closer to home, we are collaborating with ADE Consulting in Australia to trial a portable and compact point of sampling measurement platform for the analysis of soil pollutants. In healthcare applications, our products are indispensable for diagnostics, treatment monitoring, and disease comprehension. Through chromatography, spectroscopy, and mass spectrometry, we achieve precise measurements of biomarkers, drugs, metabolites, and other substances in biological samples. The resulting data empowers disease diagnosis, therapeutic drug monitoring, personalized medicine, and drug discovery, ultimately enhancing patient outcomes and healthcare delivery. One particularly exciting partnership is with the Baker Heart and Diabetes Institute, a collaboration that dates back to 2019. Together, we are developing an AI-based tool capable of measuring an individual's blood micro sample for their risk of heart disease.
This innovative tool assesses hundreds of lipid biomarkers and holds the potential to help cardiologists differentiate patients in need of therapeutic intervention by determining their lipid risk score. It embodies our vision of integrating microsampling, lab automation, and method development through accelerated investment in our lab activities. In our full-year results, we provided insight into the performance of our core business, which continues to exhibit steady growth, bolstering EBITDA expansion and increasingly generating cash. In parallel, Trajan has invested in the development of next generation products, some of which I've outlined today, with the aim of delivering further value to our shareholders in the future. We are fortunate to offer our shareholders a business marked by strong predictability in its commercial profile, as well as a focus on groundbreaking innovation in the near term, positioning Trajan at the forefront of our industry.
In 2015, Stephen and the team considered Trajan's core competency and landed on Trajan's capacity and capability to collaborate. Why? Because Trajan is independent. We develop and deliver industry solutions. We are seamlessly global, and our technology and fabrication capabilities are highly translatable to other verticals, meaning we can control, evolve, and modify products to continue to meet the demands of our customers and their customers today and in the future. If we were to ask the same question today, the answer would be the same. Our team has embraced collaboration as a guiding principle. They work cohesively across departments and functions, applying their passion, expertise, and collaborative spirit to drive our collective goals. I'd like to thank Stephen and his global leadership team, our partners, customers, and every Trajan employee around the world.
Together, we are forging new frontiers in analytical science, especially in how it relates to human health. I'm excited about the future and confident that our collective efforts will continue to drive our success. As mentioned, we are inviting shareholders to join us for our inaugural, inaugural Shareholder Day in person in Melbourne on Monday, 30th of October. This is a companion event to today's AGM and will provide deeper insight into the various parts of our business. We hope you can join us. Finally, thank you to you, our shareholders. We are confident that this coming year will see continued growth across our business, in line with the strong global operational progress of Trajan. Thank you. I'll now turn to the business of today's meeting. Business. There are four items of business for the AGM today, as set out in the notice of meeting.
Three of these are to be voted on. Ordinary business financial report. Financial statements and reports. The first item of business is to receive and consider the annual financial report, together with the directors' and auditors' reports for the year ended 30th June 2023. As previously mentioned, we have our auditor present, if you wish to direct any questions pertaining to the audit to Billy. Are there any questions or comments in relation to the directors' and auditors' reports?
There are no questions.
Thanks, Beck. There being no questions, we now move to the items of business for which a vote is required. As previously stated, voting on all resolutions today will be conducted by a poll, and you can submit your vote at any time during the meeting. Details of the proxy votes will be displayed on the screen and as each resolution is considered. So Resolution one, the adoption of Remuneration Report. Resolution one relates to the adoption of the 2023 Remuneration Report. The voting in respect to the proxies received prior to the meeting is displayed on the screen. Are there any questions or comments on Resolution one?
We've received no questions, John.
Thanks, Beck. As there are no questions or comments, I now put the resolution to a vote. I'll now move on to Resolution two, the re-election of myself as a director. As the item of business relates to me, I'll hand over to Sara Watts, Non-Executive Director and Chair of the Audit and Risk Committee, who will chair this resolution. Sarah?
Thanks, John. Resolution two relates to the re-election of John Eales as a director. The explanatory memorandum in the notice of meeting contains particulars of John's skills and experience, which I will not repeat here. Voting in respect of the proxies received prior to the meeting is displayed on the screen. Are there any questions or comments on Resolution two?
We've received no questions for this resolution, Sarah.
Thanks, Beck. As there are no questions or comments, I now put the resolution to a vote. I will now hand back to John, who resumes as Chairman of the meeting. Thanks, John.
Thanks very much, Sarah. I now move to Resolution three, the re-election of Ms. Tiffiny Lewin as a director. The explanatory memorandum in the notice of meeting contains particulars of Tiffiny's skills and experience, which I will not repeat here. Voting in respect to the proxies received prior to the meeting is displayed on the screen. Are there any questions or comments on Resolution three?
We've received no questions for this resolution, John.
Thanks, Beck. As there are no questions or comments, I now put the resolution to a vote. That concludes the formal business to be considered at this meeting. I will now address any general questions that we have received.
John, we've received one general question, which I will read out to you. Fully understanding you have no control over the share price, have you any comments on what is concerning the market? Any comments on the overall share price and whether any of the board are intending to acquire more shares? Thank you.
Thanks very much, Beck. I can't speak on behalf of the board as to whether they will be looking to acquire more shares at this stage. I will point out that the all of the directors do take part of their salary or fees for being on the board in shares. So we are all very much invested in the business. Stephen, I might hand over to you as well, to see if you have any further comments on this question.
Thank you, John, and I think it's a welcome and a good question that is no doubt on many people's minds. In terms of how we can respond, I think there are two key things that we can do. One is to continue to operate and run the business according to our plan, and from that point of view, the business continues to perform well. The core business is tracking as we would expect, and we're increasingly seeing the value in the disruptive technologies where we have directed a significant part of our investment. The second thing that we can do is continue to think about how to best communicate the attributes and the characteristics and the performance of the business.
Trajan is a complex business, and sometimes it can be a little difficult or complicated to explain it clearly, and that's a role for us to improve our messaging. But as we've been listening and seeking investor feedback, that's the element that has become, I think, clearer to us, that to think about how we best communicate, how we're operating, how we're tracking, and how we're performing. Thanks, John.
Thanks, Stephen. And it is also one of the reasons which we are holding the Investor Day at Trajan itself, so people can get a more tangible feel for your business, the business that you're all invested in. Beck, are there any more questions?
No, there are no other questions, John.
Okay. Thank you, Beck. So voting will close automatically shortly. Please ensure that you have cast your vote on all resolutions. I'll now pause for a minute to allow you time to finalize your votes. As it will take some time for the poll results to be known, once compiled and checked, the results will be announced to ASX later today, and will also be made available on the company's website after the meeting. I would like to congratulate Stephen and the entire Trajan team for its achievements in 2023. There was a great deal of operational and corporate activity within the company over that period, and Stephen and the team have worked extremely hard to help position our company for future growth. Lastly, I would also like to thank our shareholders for your support and the confidence that you have in the Trajan Group.
I thank you for your attendance today, and I now declare the meeting closed.