IVE Group (IGL) H1 2026 earnings summary

Executive summary

• Delivered a solid half-year result with margin expansion and strong cash flow, offsetting revenue softness in catalogues, publishing, retail, and media sectors.

• Progressed strategic initiatives, including site consolidations, targeted acquisitions (Impressu, BMS, Daily Press), and technology upgrades.

• New business wins with major brands, expansion into events and licensing, and Lasoo platform growth support future prospects.

• Maintained conservative gearing and executed on-market buyback, cancelling 1.7m shares (1.1% of capital) for $4.3m.

• Strong operating cash flow conversion (84% of EBITDA) despite elevated capex and acquisition funding.

Financial highlights

• Revenue was $476.5m, down 6.2% year-over-year, with $5m from acquisitions; EBITDA up 1.8% to $75.4m, margin at 15.8%.

• Underlying NPAT down 3.0% to $28.4m; IFRS NPAT $24.3m, down 10.2% year-over-year.

• Gross profit margin improved to 50.7% from 48.5% year-over-year.

• Operating cash conversion to EBITDA at 84%; cash on hand $50.2m; interim dividend of 9.5¢ per share, fully franked.

• EPS (NPAT) was 18.4¢, down 2.9% year-over-year; DPS stable at 9.5¢.

Outlook and guidance

• Underlying NPAT for FY26 expected around $50m (pre-AASB 16: $52.5m), up from $51m in FY25.

• CapEx to remain elevated at ~$45m for FY26, normalizing in FY27.

• Net debt expected to be at or below 1.5x pre-AASB 16 EBITDA by June 2026.

• Annual dividend expected steady at 18.0¢ per share for FY26, with payout ratio policy reinstated at 55–65% from FY27.

• Buyback program to be reinstated after regulatory approval.