IVE Group delivers a 104% uplift in EPS driven by strong revenue growth

ASX-listed IVE Group, parent company of Salmat, which was rebranded under the group in 2020, today released its financial results for the six months to 31 December, 2021.

IVE has delivered a significant uplift in earning per share (EPS) over the previous corresponding period (PCP) as a result of solid revenue growth, stable margins, and leverage of the recalibrated cost base.

IVE’s revenue had a growth of 12.2% to $382.6 million on the previous corresponding period (PCP).

The company’s EBITDA was up 24.7% to $55.2 million on the PCP. Net for profit tax (NPAT) was up 99% on the PCP to $20.9 million. 

The earnings per share (EPS) was up 104% to 14.6cps on the PCP. The company’s net debt was $78.7 million for the six month period. Cash on hand sits at $51.6 million and interim dividend sits at 8.5 cents per share, fully franked.

IVE commented on the integration of both ADG and AFI (acquired on 1 November 2021) in its ASX release saying the integration “is progressing well and will be successfully completed by the end of June 2022.  Post integration, we remain confident of achieving $45m of annualised revenue, EBITDA of $6.5m and  NPAT of $4 million.”

Commenting on the company’s 1H FY22 performance, IVE Group’s CEO, Matt Aitken said: “A clearly defined and well executed strategy over the long term has cemented IVE as the largest integrated marketing communications business in Australia, holding leading market positions across all sectors in which we operate. This places us in a strong position as we emerge from the significant disruption of the last 2 years.

“Pleasingly, heightened operating leverage across the business has contributed to a significant uplift over our H1 FY21 performance, as existing client revenue rebounds and recently secured new business phases in. Revenue momentum continues, and the company remains optimistic this will continue over the remainder of the FY22 year”

IVE Group’s market capitalisation is $275.53 million and has a daily share price of $2.00 as of today.


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