IPH (IPH) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians and introduction of board, executives, and auditors.

• Notice of meeting and annual report made available; agenda followed as per notice.

• Shareholders invited to ask questions during relevant agenda items and at the end.

Financial performance review

• Revenue increased 22.9% to AUD 609.9 million; underlying EBITDA up 15% to AUD 195.5 million.

• Underlying net profit after tax rose 13.5% to AUD 112.4 million; EPS up 5.6% to AUD 0.46.

• Dividends per share grew 6.1% to AUD 0.35, with full-year dividends increasing annually since 2014.

• Canadian acquisitions contributed significantly to revenue and earnings growth.

• Asia saw a 6% decline in like-for-like earnings, but signs of recovery are emerging.

Board and executive committee updates

• Board renewal continued with Robin Low's retirement and David Willis's appointment.

• Board engaged with shareholders on remuneration and capital management.

• Chairman Peter Warne offered himself for reelection, highlighting his experience.