IPH (IPH) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians and introduction of board, executives, and auditors.

• Notice of meeting and annual report made available; agenda followed as per notice.

• Shareholders invited to ask questions during relevant agenda items and at the end.

• Managing Director reflected on 10-year ASX listing anniversary, noting growth from $330 million to $1.5 billion in market cap and expansion to over 1,800 employees across 26 jurisdictions.

Financial performance review

• FY24 revenue increased 23% to AUD 609.9 million; underlying EBITDA up 15% to AUD 195.5 million; underlying NPATA up 14% to AUD 112.4 million.

• Underlying net profit after tax rose 13.5% to AUD 112.4 million; EPS up 5.6% to AUD 0.46.

• Group like-for-like revenue increased 4%, with a 1% decline in underlying EBITDA due to investment in efficiencies.

• Australia/NZ saw 5% like-for-like revenue growth and 7% EBITDA growth; Canada delivered double-digit revenue growth and 8% EBITDA growth.

• Asia experienced a 6% decline in like-for-like earnings, but signs of recovery are emerging.

Dividend announcements

• Final FY24 dividend declared at 19.0 cents per share, representing 83% of cash NPAT and a 9% increase from the previous year.

• Dividends per share grew 6.1% to AUD 0.35, with full-year dividends increasing annually since 2014.

• Final dividend increased by 6%; dividends have grown every year since listing.