Ann: AGM 2022 Addresses and Presentation, page-2

"In the 2H of FY21, we made the explicit decision to de-risk the supply chain challenges we were wrestling with by phasing our 1H23 inventory build much earlier, resulting in a higher inventory number as of June 30th. This created a fair bit of discussion when we announced our results on August 23rd. One week after our announcement,Shenzhen – where most of our products are manufactured – went into COVID lockdown, exactly the scenario we were hedging against."

"It is with great humility that we recognise Breville’s 90th anniversary. I certainly feel privileged to be a participant in this journey. Not many companies last this long, with even fewer global success stories from Australia. It is an accomplishment that should be celebrated.
Besides, what can be more Australian – a company whose founding capital came from winning a 4-to-1 bet at the Melbourne Cup in 1932"

"In general, retailers are cautious, but leaning into brands they trust, including Breville|Sage. Surveying the Theatres, year-to-date, sell-in is performing as expected on a relative basis: Americas’ is solid, APAC is steady, and EMEA continues to be challenging, where sell-out
continues to outpace sell-in"