IVE Group Reaffirms FY24 Guidance and Provides Update on Performance

IVE Group Limited (ASX: IGL) has reaffirmed its FY24 guidance and updated its performance. IVE Group has reaffirmed its FY24 guidance following a recent update. Despite softer economic conditions impacting specific segments, the Group’s Brand Activations and 3PL businesses are performing well, and catalog and magazine revenues align with expectations.

IVE Group expects a further improvement in gross and EBITDA margins due to commercial initiatives and operating efficiencies. The Company maintains its FY24 guidance of EBITDA AU$127 million-AU$132 million, EBIT AU$77 million- AU$82 million, and NPAT AU$41 million- AU$44 million. Net debt is expected to be around 1.5x pre-AASB 16 EBITDA on 30 June 2024, consistent with previous communication.

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