IVE Group (IGL) Status Update summary

FY 2025 trading and guidance update

• Upgraded FY 2025 underlying NPAT guidance to AUD 52 million, reflecting continued margin expansion and positive trading, despite some revenue softness in select segments; Lasoo NPAT loss expected at AUD 4.4 million and restructuring costs at AUD 2–2.5 million, below prior years.

• CapEx for FY 2025 is expected to be AUD 29 million, lower than previous guidance, with net debt to remain well below internal targets and below 1.5x pre-AASB 16 EBITDA; no major working capital increases anticipated.

• Annual dividend remains at AUD 0.18 per share, fully franked, with a final dividend of AUD 0.085 anticipated; on-market buyback of up to AUD 10 million remains in place, with 707,000 shares acquired to date at an average price of AUD 2.26 per share.

• Senior debt facility refinanced for four years with improved terms and expanded syndicate, providing significant covenant headroom and flexibility.

• Capital expenditure to normalise to AUD 15 million p.a. post-FY26, following major investments in packaging and facility upgrades.

Strategic vision and growth ambitions to 2030

• Targeting AUD 1.2–1.3 billion in revenue by FY 2030, with EBITDA margins above 15% and annual EPS growth of 3–5%, driven by organic growth and acquisitions.

• Growth to be driven by both organic initiatives and acquisitions, especially in creative/content, brand activations, retail media, packaging, 3PL, and CX & Data, with a focus on consolidating existing markets and diversifying into adjacencies.

• Net debt to remain below 2x EBITDA, with a conservative approach to leverage and capital deployment, and capacity to lever up to 2x for acquisitions.

• Strategic investments in scalable, capital-light platforms such as Lasoo, packaging, and 3PL to align with evolving market needs.

• Sydney Supersite to streamline operations, reduce costs, and support future expansion, particularly in packaging.

Business unit highlights and market positioning

• Print remains core, with 92% market share in retail catalogues and strong client relationships; further consolidation possible in commercial print.

• Packaging business rapidly expanding, targeting AUD 150 million revenue by 2030, with new NSW super site to add AUD 30 million capacity and focus on sustainable solutions in food, pharma, and cosmetics.

• 3PL/logistics and merchandise/uniforms businesses set for significant growth, leveraging existing client base, new adjacencies, and expansion into apparel, liquor, and pharma.

• Brand activations and creative/content units targeting substantial revenue growth, focusing on omnichannel solutions, high-profile campaigns, and vertical integration.

• Lasoo e-commerce platform on track for 75% GTV growth in FY 2025, aiming for AUD 150 million GTV and break-even by FY 2028.

• CX & Data division delivers personalized, omnichannel marketing solutions, with strong client results and embedded teams, driving market share through AI-led engagement.