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IVE Group - Financial Results for the Year Ending 30 June 2023

Financial results for the Year Ending 30 June 2023

IVE Group Limited (IVE, the Company or the Group) is pleased to announce its financial results for the 12 months ended 30 June 2023 (FY23).

The result was underpinned by strong organic growth coupled with a maiden contribution from Ovato, partially offset by materially higher input and finance costs. Organic revenue growth was broad-based and reflects the Group’s leading industry vertical positioning, tier-1 clientele and diversified revenue base.

Key underlying 1 financial performance indicators for the year include:

  • Revenue $967.4m, up 27.5% from $759.0m pcp
  • EBITDA $119.0m, up 23.1% from $96.6m pcp
  • NPAT $39.7m, up 19.8% from $33.1m pcp
  • EPS 26.4¢ps, up 14.5% from 23.1¢ps pcp
  • ROFE improved further to 24.7% from 21.3% pcp
  • Operating cash conversion to EBITDA 65.7%
  • Cash on hand $44.9m
  • Net debt $124.2m, up from $76.8m at 30 June 2022, primarily reflecting the Ovato acquisition including the funding of strategically elevated inventory (paper) and integration costs
  • Fully franked final dividend of 8.5 ¢ps, up 6.3% from 8.0¢ps pcp

For more information, download the attached PDF.

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