IPD Group (IPG) H2 2025 earnings summary

Executive summary

• Achieved record FY25 financial results with revenue of AUD 354.7 million, up 22.1% year-over-year, and all key profit metrics at new highs, driven by strong growth in data centers, infrastructure, and water/wastewater sectors.

• EBITDA rose 19.3% to AUD 46.4 million, EBIT up 18.4% to AUD 39.2 million, and NPAT increased 17% to AUD 26.2 million.

• Earnings per share grew 8.6% to AUD 0.253, reflecting successful accretive acquisitions.

• Data center revenue surged 33%, now representing 16% of total revenue.

• Strategic acquisitions (CMI Electrical, EX Engineering) and diversification supported revenue and margin improvements.

Financial highlights

• Revenue reached AUD 354.7 million, up 22.1% year-over-year, with EBITDA at AUD 46.4 million and NPAT at AUD 26.2 million.

• Gross profit margin declined to 34.2% from 37.1% due to lower-margin acquisitions and competitive projects.

• Operating cash flow increased to AUD 52.7 million, with cash conversion at 113%.

• Net cash position of AUD 9.8 million at year-end, after repaying AUD 20 million in core debt.

• Total fully franked dividends declared at AUD 0.126/share, up 16.7%, with a 50% payout ratio.

Outlook and guidance

• Targeting growth at twice the market rate, with data center revenue projected to grow another 25% in the next year.

• Focused on organic expansion, strategic acquisitions, and benefiting from trends in renewable energy, EV infrastructure, and public transport electrification.

• Price increase of 4% planned for February 2026.

• Trading update scheduled for AGM on 25 November 2025.