Marketing, communications and printing group IVE today announced its results for the six months to December.
The company says strong free cashflow has resulted in continued high liquidity, a further meaningful reduction in net debt, and the resumption of dividend payments.
IVE reaffirmed its previous guidance for the financial year. Underlying EBITDA is expected to be consistent with 2020 ($100 million underlying EBITDA continuing operations).
IVE group executive chairman Geoff Selig: “The impacts of COVID-19 have varied across our business, our clients, supply chain and the sector more broadly. Under the circumstances, the board is very pleased with the first half performance and the significant reduction of $89m in net debt since the end of March 2020.”
IVE shares were 10% higher at $1.435.
- Revenue $340.8m
- EBITDA $59.2m
- NPATA $23.0m
- Cash on hand of $94.6m at 31 December 2020
- Net Debt $90.1m, a further reduction of $47m from 30 June 2020
- Earnings per share of 16 cents
- Interim dividend of 7 cents per share, fully franked
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