Full Year 2024 IPH Ltd Earnings Call Transcript
Key Points
- IPH Ltd (ASX:IPH) reported a 15% lift in underlying EBITDA and a 40% increase in underlying net profit for FY24.
- The company announced a 9% increase in the final dividend, reflecting strong shareholder returns.
- Successful acquisitions in Canada have led to double-digit revenue growth and an 8% lift in earnings on a like-for-like basis.
- IPH Ltd (ASX:IPH) has returned to its target gearing range ahead of schedule, demonstrating strong cash flow and debt repayment capabilities.
- The company is implementing a regional operating model and a global client program to enhance service capabilities and drive growth.
- The Asian business continues to be impacted by lower market filings, with like-for-like earnings down 6% for the full year.
- The integration of new acquisitions has led to increased corporate costs, including investments in cybersecurity and business development.
- The company faces challenges in maintaining market share in Australia, with a gap of 2.3 percentage points relative to the market.
- The financial results were partially supported by favorable foreign exchange rates, which may not be sustainable.
- The capital raising to fund acquisitions and reduce debt may dilute existing shareholders, as it includes a fully underwritten institutional placement and a non-underwritten share purchase plan.
Thank you. Good morning, and welcome to the IPH results presentation for the year ended 30 June 2024. My name is Andrew Blattman. I I'm the CEO and Managing Director of IPH. With me today is John Wadley, our Group CFO.
Thank you all for joining us for today's presentation and for your continuing interest in IPH. Before commencing the formal presentation I wanted with knowledge and welcome a new Canadian team members who joined our expanded group at IPH through our acquisitions have brought out maybe and (inaudible) completed in FY24.
I also extend a very warm welcome to employees at Persimmon power, who we anticipate will be joining us next month following today's announcement. In the short time, we have built the market-leading IP business in Canada, and we welcome the contribution of our newly acquired businesses to the group. Importantly, let me also thank the broader IPH team for the contribution to ourselves during the year.
Now, as you can imagine, we have a fair bit to get us
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