Full Year 2026 IPH Ltd Earnings Call Transcript
Key Points
- Underlying NPATA increased by 1.7% and full-year dividends rose by 5.5%, reflecting solid financial performance.
- Canadian business delivered strong like-for-like EBITDA growth of 11.8%, driven by organic revenue growth, acquisition synergies, and cost discipline.
- Asian business returned to like-for-like revenue growth for the first time since FY23, up 2.6%.
- Cash conversion remained above 100% at 110%, with free cash flow up 18.3% and a $17.6 million reduction in net working capital.
- AI initiatives, including a virtual agent, achieved a 75% efficiency gain in test cases, enhancing productivity and cost reduction.
- Underlying EBITDA declined slightly due to negative currency impacts from a stronger Australian dollar against the US and Canadian dollars.
- ANZ business continued to be impacted by declining US PCT filings, with like-for-like revenue down 4.2% and EBITDA down 7.2%.
- IPH group filings in Australia declined by 2.9% versus a 2.1% market increase, indicating a loss of market share.
- Asian like-for-like underlying EBITDA decreased by 1.3% due to inflationary cost pressures.
- Singapore patent filings declined by 12.6% in FY26, partly due to lower volumes from a significant client, impacting overall performance.
Thank you for standing by. Welcome to the IPH Limited FY26 results presentation. (Operator Instructions) I would now like to hand the conference over to Tony OĆ¢Malley, MD and CEO. Please go ahead.
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Good morning, and welcome to the IPH results presentation for the year ended June 30, 2026. IĆ¢m Tony OĆ¢Malley, and I had the privilege of joining IPH as CEO on July 1. WeĆ¢ve been in blackout period since then, which means I havenĆ¢t had the opportunity to meet shareholders, analysts, and investors over that time. However, I look forward to meeting many of you over the coming days and weeks. Joining me for todayĆ¢s presentation is Brendan York, our Group CFO.
IĆ¢ll start by sharing some of my initial observations of the business gained over the past seven weeks and provide an overview of the results. Brendan will then discuss the financials in greater detail, including our segment results, and then IĆ¢ll conclude with an operational update and a summary of our
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