Half Year 2024 Infomedia Ltd Earnings Call Transcript
Key Points
- Achieved a 36% increase in underlying cash EBITDA, demonstrating strong financial performance.
- Double-digit growth in total revenue of 11%, driven by strong team performance in APAC and initial benefits from the Americas turnaround.
- Successful completion of phase one of the transformation strategy, now moving into the strengthening phase.
- Revenue growth across all products and regions, with core products Microcat and Superservice growing by 6% and 12%, respectively.
- Strong balance sheet with approximately $65 million in cash and zero debt, providing flexibility for continued growth and investment.
- Annual recurring cost increased by 6%, which, although controlled, still represents a rise in expenses.
- One-off costs related to the SimplePart earn-out and integration, as well as the offshoring project, impacted net profit after tax.
- Labor capitalization as a percentage of revenue, although reduced, remains significant at 14%.
- Non-underlying expense payments of $1.8 million related to offshoring and integration projects.
- Increased tax payments due to lower R&D tax offset, impacting underlying free cash flow.
Good morning, everyone. I would like to thank you for attending our results webcast for the Infomedia's half-year results for 2024. I'm Jens Monsees, the CEO and Managing Director of Infomedia.
Firstly, I would like to acknowledge the traditional owners of the land on which we meet today, the Gadigal people on the Eora Nation. We pay our respect to the elders, past and present, and extend this acknowledgement and respect to the First Peoples in all countries in which we operate.
Joining me on the call today is Chantell Revie, our CFO. She will take you through the detailed financials. You can follow along on the slides for the presentation, which was released earlier on the ASX. I will refer to the slide numbers as we move through the presentation.
From our investors, we hear that the best way to present results is by providing consistent disclosure and delivering on our strategy. I'm happy to share that our results for this half continue to demonstrate both.
Please note the
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