IPH (IPH) AGM 2025 summary

Opening remarks and agenda

• Meeting was live-streamed, with shareholders able to submit questions in advance.

• Board members, senior executives, and auditors were introduced, and the Notice of Meeting was taken as read.

• The agenda included financial results, market challenges, remuneration framework enhancements, board renewal, and CEO succession.

Financial performance review

• Statutory net profit after tax rose to AUD 68.8 million from AUD 60.8 million, with underlying EBITDA up 7.3% to AUD 120.6 million.

• Group revenue was AUD 356.3 million, slightly down from AUD 359.9 million, with a leverage ratio of 1.9x.

• Final dividend declared at AUD 19.50 per share, up 4% year-on-year.

• FY25 revenue reached AUD 710.3 million, with underlying EBITDA at AUD 207.2 million, driven by Canadian acquisitions.

• Like-for-like revenue was flat, with EBITDA down 4%; Australia/NZ saw slight revenue growth but EBITDA declined 2%.

• Asia revenue was flat, EBITDA down 1.7%; filings in Asia increased 16.5%.

• Canada faced CIPO system disruptions but saw above-target synergies from acquisitions.

• For the first four months of FY26, group revenue was AUD 241.7 million, with like-for-like revenue up 3.3% in Asia and 3.1% in Canada.

Board and executive committee updates

• Board renewal continued with Kate Mason joining in September 2025; Xingming Kean retired at the AGM.

• CEO Andrew Blattman announced intention to retire in the second half of 2026; succession process to consider internal and external candidates.

• John Atkin and Vicki Carter stood for re-election as non-executive directors; Kate Mason stood for election.