IEX Group (IEX) H2 2024 earnings summary

Executive summary

• 2024 marked a transformative year with the sale of IEX Media and Trilab, resulting in a record net profit and a new strategic direction for Hawick Data.

• The company now holds a strong cash position and is evaluating options for capital deployment, including investments, dividends, or share buybacks.

• Shareholders approved the sale with 86% support, and the company is consulting stakeholders on future strategy.

Financial highlights

• Revenue from discontinued activities rose slightly to €5.14 million in 2024, up 0.6% year-over-year.

• EBITDA decreased by 24.8% to €1.15 million, mainly due to one-off items in 2023; adjusted EBITDA would have been closer to the prior year.

• Net profit surged to €9.34 million from €1.38 million, driven by an €8.85 million book gain on the sale of IEX Media and Trilab.

• Earnings per share increased to €2.38 from €0.35 year-over-year.

• Cash position at year-end was €10.9 million, with equity also at €10.9 million.

Outlook and guidance

• Hawick Data is considering several options for the use of sale proceeds: dividends, share buybacks, reinvestment in financial or online information sectors, or new business activities.

• Annual holding costs are estimated at €200,000–€300,000, with a buffer to cover 2–3 years of expenses.

• A proposal on capital allocation and strategy is expected in Q2 or Q3 2025.