Ive Group Ltd. · ASX:IGL
Ive — H1 FY2025 Earnings Presentation
27 slides from Ive's earnings presentation, Feb 24, 2025
Slide 1: FY25 H1 Results
Sydney | Melbourne | Brisbane | Adelaide | Perth | Tasmania | International FY25 H1 Results IVE Group Limited 24 February 2025
Slide 2: Agenda
Agenda 2 Agenda Key highlights Growth initiatives Packaging Creative and Content Financial performance Third Party Logistics (3PL) Sydney supersite dashboard Lasoo FY25 outlook and guidance Financials Profit and loss Balance sheet Capital expenditure Appendices Cash flow and dividends IVE Group Ltd
Slide 3: Key highlights
Key highlights 3 Key highlights Growth initiatives Packaging — JacPak revenue capacity committed — equipment purchased for NSW organic Financial performance Operational updates expansionary plans - strong half year Ovato Creative and Content Elastic adding to service offering cost synergies fully re
Slide 4: Financial performance dashboard
Financial performance 4 Financial performance dashboard ¹ Strong interim performance underpinned by margin expansion and normalisation in working capital Revenue EBITDA NPAT EPS (NPAT) EPS (NPATA2) $ 507.8m ↑0.4% on PCP $ 74.1m ↑12.6% on PCP $ 29.3m ↑29.1% on PCP 19.0¢ ↑28.1% on PCP 20.1¢ ↑26.7% on
Slide 5: Financials
Financials 5 Financials IVE Group Ltd | FY25 H1 Results
Slide 6: Profit and loss
Financials 6 FY25 H1 FY24 H1 Variance $m $m % Revenue 507.8 506.0 0.4 Material profit 246.1 233.6 5.4 % of revenue 48.5% 46.2% 4.9 Profit EBITDA 74.1 65.8 12.6 % of revenue 14.6% 13.0% 12.2 Depreciation and amortisation 22.6 24.1 (6.1) and loss EBIT 51.4 41.7 23.4 ¹ Net finance costs NPBT 8.4 43.0 8
Slide 7: Revenue and underlying earnings
Financials 7 Revenue Underlying earnings Revenue up 0.4% to $507.8m EBITDA up 12.6% to $74.1m Includes $15.8m of incremental revenue from JacPak EBITDA margin up strongly to 14.6% from 13.0% pcp (acquired 31 October 2023) EBIT up 23.4% to $51.4m Base revenue¹ down ~3% relative to pcp, impacted by so
Slide 8: Balance sheet
Financials 8 FY25 H1 FY24 FY24 H1 Net debt $m $m $m Loans and borrowings1 170.9 179.8 207.1 Balance Less cash 49.5 48.8 41.7 Net debt 121.4 131.0 165.4 1. Loans and borrowings are gross of facility establishment costs and exclude AASB 16 right of use liabilities impacts sheet Cash at bank $49.5m Net
Slide 9: Capital expenditure
Financials 9 FY25 H1 FY24 H1 Capital expenditure $m $m Capital Investment and maintenance 5.3 3.0 Packaging capacity build-out 8.5 - expenditure Ovato - 2.7 Total 13.8 5.7 Capex was $13.8m, including $8.5m related to the packaging capacity Packaging capacity build-out largely for the purchase of rep
Slide 10: Cash flow and dividends
Financials 10 FY25 H1 FY24 H1 Cash flow and dividends $m $m Cash EBITDA 74.1 65.8 Movement in NWC/non-cash items in EBITDA (5.9) (10.5) flow and Operating cash flow 68.2 55.3 dividends Operating cash conversion to EBITDA 92.0% 84.0% Dividend per share 9.5¢ 9.5¢ Operating cash conversion to EBITDA up
Slide 11: Growth initiatives
Growth initiatives 11 Growth initiatives IVE Group Ltd | FY25 H1 Results
Slide 12: Packaging: JacPak
Growth initiatives 12 Packaging JacPak Cost synergies realised and available capacity committed Acquired Melbourne based folding carton producer, JacPak, on 31 October 2023 with expected annual revenues of around $45m and $15m of additional available revenue capacity JacPak contributed revenue of $2
Slide 13: Packaging organic expansion and revenue ambition
Growth initiatives 13 Packaging Packaging revenue ambition JackPak Organic expansion Organic expansion IVE intends servicing national brands through packaging operations $ 60m in both Victoria and NSW, supported by our national logistics network: — in Victoria, JacPak (IVE Packaging) will continue t
Slide 14: Creative and Content
Growth initiatives 14 Creative and Click to play Click to play Content Elastic Group now fully integrated into Melbourne and Sydney creative service business The acquisition of Elastic Group has rapidly advanced our creative service offering Click to play Click to play Elastic’s creative and strateg
Slide 15: 3PL expansion
Growth initiatives 15 With the strong growth experienced in IVE’s 3PL operations and the upcoming expiry of 3PL’s main warehouse lease in Braeside, the Group is relocating to a brand new, purpose-built facility in nearby Dandenong South The 33,000m2 facility will become 3PL’s largest site and will p
Slide 16: 3PL expansion (Dandenong South, Melbourne)
Growth initiatives 16 3PL expansion (Dandenong South, Melbourne) Benefits of the supersite are expected to include: — Additional space for further 3PL expansion; — Dedicated in-house logistics services for JacPak; — Operating efficiencies through the consolidation of two existing Braeside warehouses
Slide 17: Sydney supersite
Growth initiatives 17 Replicating the success of our Braeside site in Victoria with the development of a 42,000m² building in Kemps Creek, Western Sydney Sydney supersite facilitates the Group’s strategy of expanding Sydney into horizontal adjacencies such as packaging, to drive revenue growth and o
Slide 18: Sydney supersite (Kemps Creek)
Growth initiatives 18 Sydney supersite (Kemps Creek) Benefits of the supersite are expected to include: — Avoidance of an additional $3.1m per annum in rental cost increase; — Operating efficiencies including consolidation of leases, common operational functions such as dispatch and receiving as wel
Slide 19: Lasoo: unique high growth e-Commerce platform
Growth initiatives 19 Lasoo: unique high growth e-Commerce platform Rapidly scaling independent¹ B2C ‘deals’ marketplace powered by best-in-class proprietary technology Key metrics Target FY30 GTV, revenue, EBITDA and NPAT $20m $150m 255 20 $20m $120m Retailers on Product platform categories $15m $9
Slide 20: Lasoo: strong momentum
Growth initiatives 20 Lasoo: unique high growth e-Commerce platform Strong momentum … and retailers live … delivering outsized .… underpinned by repeat in MAU1... on the platform… growth in GTV customer sales 1.2m 300 $6m $600k 1.0m 250 $5m $500k 800k 200 $4m $400k 600k 150 $3m $300k 400k 100 $2m $2
Slide 21: FY25 outlook and guidance
FY25 outlook and guidance 21 FY25 outlook and guidance IVE Group Ltd | FY25 H1 Results
Slide 22: FY25 outlook and guidance
FY25 outlook and guidance 22 FY25 outlook and guidance1 Reflecting a strong start to the year and sound new business Net debt at 30 June 2025 is expected to be below the Group’s prospects, the Group has revised its FY25 underlying NPAT internal benchmark of 1.5x pre-AASB 16 EBITDA guidance range to
Slide 23: Appendices
Appendices 23 Appendices IVE Group Ltd | FY25 H1 Results
Slide 24: Appendix A: IFRS P&L and underlying NPAT reconciliation
Appendices 24 Appendix A FY25 H1 FY24 H1 Variance FY25 H1 FY24 H1 IFRS Profit and Loss IFRS to underlying NPAT reconciliation $m $m % $m $m Revenue 510.2 507.6 0.5 IFRS NPAT 27.1 13.0 Material profit 247.5 234.6 5.5 Lasoo 3.2 2.8 % of revenue 48.5% 46.2% 5.0 Restructure costs 0.6 8.7 EBITDA 71.0 52.
Slide 25: Appendix B: Balance Sheet
Appendices 25 Appendix B IVE Group Limited Balance Sheet Current Liabilities FY25 H1 $m FY24 $m Trade payables and provisions 155.7 164.9 Loans and borrowings 0.8 3.0 Lease liability (ROUA) 28.5 32.3 FY25 H1 FY24 IVE Group Limited Balance Sheet $m $m Current tax payable 8.5 — Current Assets Total Cu
Slide 26: Disclaimer
26 Disclaimer Disclaimer Forward looking statements recipient of this presentation outside Australia must seek advice on and observe No recommendation, offer, invitation or advice The information in this presentation is for general information only. To the extent any such restrictions. This presenta
Slide 27: Thank you
Authorised by the IVE Board Thank you Matt Aitken Darren Dunkley Tony Jackson Managing Director Chief Financial Officer Investor Relations Matt.Aitken@ivegroup.com.au Darren.Dunkley@ivegroup.com.au Tony.Jackson@ivegroup.com.au +61 413 740 774 +61 425 228 204 +61 410 499 043 ivegroup.com.au