Full Year 2024 IVE Group Ltd Earnings Call Transcript
Key Points
- IVE Group Ltd (ASX:IGL) reported a solid FY24 result, meeting all key guidance metrics.
- Strong uplift in operating cash flow with gearing below the target of 1.5 times pre-AASB16.
- Successful completion of the Ovato integration ahead of schedule, with full-year run rate synergies reflected in FY25 outlook.
- Revenue of almost $970 million, slightly up on PCP, with EBITDA of $127.8 million, up 7.5% on PCP.
- IVE Group Ltd (ASX:IGL) declared a fully franked final dividend of $0.085 per share, taking the full-year dividend to $0.18 per share.
- Base revenue down circa 4% relative to a strong PCP, largely due to softer second-half FY24 economic conditions.
- Increased net finance costs due to higher interest rates and JacPak acquisition funding.
- Non-operating items of $23 million pre-tax, including $13.1 million of restructuring costs.
- Lasoo operating loss of $5.8 million, with breakeven now expected in FY28, delayed from FY26.
- Capital expenditure expected to be around $24.5 billion in FY25, including significant investment in packaging capacity build-out.
Good morning, everyone, and welcome to the IVE Group FY24 financial results webinar. My name is (inaudible) and I'm your host for today. On the call, we have CEO, Matt Aitken; and CFO, Darren Dunkley. The format today is a 20 to 30-minute presentation, followed by 15 minutes of Q&A. (Operator instructions)
Without further ado, I'd like to hand over to CEO, Matt Aitken, to start the presentation. Matt, are you there?
Yes. I'm here. Thanks (inaudible)
(inaudible) Please go ahead.
Thank you. Good morning, everyone, and thank you for joining the call this morning. Darren and I am pleased to present our group's FY24 result, a solid result that meets all key guidance metrics we've provided throughout the last 12 months.
If we turn to page 3 of the presentation. I'll just touch on some of the key highlights, all key profit metrics are up on a strong
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