Ann: IVE Group Reaffirms FY24 Guidance, page-2

Timely announcement in light of the loss of the Chairman during the period and the subsequent drifting share price.

In summary:

The Good

• "The Group’s Brand Activations and 3PL businesses are performing strongly, and catalogue and magazine (including Ovato acquired) revenues are in-line with expectations"
• "a further uplift in FY24 material gross margin and EBITDA margin relative to FY23."
• "The Group reaffirms its FY24 guidance"
• "IVE has furthered the Group’s ambition to expand its content creation offering and create a truly omnichannel value proposition, through the recent acquisition of Elastic Group, an independent creative agency employing 35 staff in NSW and Victoria."
• "IVE’s corporate uniforms business continues to demonstrate sound long term growth prospects. Recent high profile account wins include Reece, Queensland Government, and the Group is currently live-trialling IVE designed and procured uniforms for a major international food retailer with more than 100,000 employees."

The Cautious

• "an increasingly difficult economic landscape"

• "softer economic conditions have impacted data driven communication (DDC) and commercial printing revenues during the current half."