09/04/2025 09:27

IVE Group (IGL) $2.24

IGL is Australia’s leading integrated marketing business, which we’ve owned in the past, that does everything from designing a marketing campaign, to print and communications, in-store merchandise & retail display to digital and customer experience.

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24/02/2025 17:30

Ive Group (IGL) $2.34

IVE +6.36%: The integrated marketing company reported a very strong 1H25 result this morning, and while things will likely moderate in the 2H, their earnings relative to their depressed multiple and high yield is a compelling combo;  

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24/07/2024 09:19

IVE Group (IGL) $2.12

The integrated marketing business trades on an Est 1-year forward PE of just 7.8x and a forecast yield of 8.7% fully franked over the coming 12-months, with FY25 likely to see strong earnings growth due to a full year of synergies from their Ovato acquisition in 2022 and a full 12 months from the Jak Pak acquisition they made in 2023. The concern around IGL that we’ve flagged previously was twofold.

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26/02/2024 16:44

Ive Group (IGL) $2.15

IVE -0.92%: The integrated marketing business reported a 1% increase in revenue for the half to $506m, around a 5% miss to expectations however, better margins provided an offset for earnings (NPAT) that came in at $22.7m, around 2% below expectations.

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31/08/2023 09:52

IVE Group Ltd (IGL) $2.08

The integrated marketing/printing business reported last week and while growth at the top line was solid with revenue of $970m, up +28% from FY22, it was driven by their acquisition of Ovato during the period. Profit was okay, slightly below expectations however it was their outlook for growth that has the market disappointed. It was thought that they would be able to successfully drive better margins through the scale they achieved during FY23, making FY24 a strong year for the company, however, their guidance was weaker than expected.

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24/08/2023 17:08

Ive Group (IGL) $2.19

IGL -8.75%: Hit today as FY23 results came in a touch light v expectations while it was FY24 guidance that prompted the sell-off. FY23 Revenue of $970m was a ~1% miss, as was EBITDA ($119m v $120m exp) and NPAT $39.7m v $40.6m expected.

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23/02/2023 16:52

Ive Group (IGL) $2.65

IGL+2.71%: all-time highs, at least briefly, for the integrated marketing company on the first half result that came with an upgrade to guidance. EBITDA of $65m was strong with EBITDA margins up to 12.9%.

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19/09/2022 16:46

Ive Group (IGL) $2.38

IGL (halt): The integrated marketing company  was in a trading halt today raising $18m in an institutional placement at $2.25 while major shareholder the Selig Family are selling down 4.5m shares on the same terms (around 30% of their holding). There will be a small $2m Share Purchase Plan on the same terms with details to come for existing shareholders. The deal is to fund future growth while the sell-down is being sold as a way of improving liquidity in the stock.

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16/09/2022 08:27

Ive Group (IGL) $2.45

IGL -0.82%: Yesterday the company announced they had bought the majority of the printing and finishing assets of Ovato from the administrators. Ovato had previously been a major competitor and at one point they were doing $500m in revenues, however a bunch of factors sent them down the gurgler. Their demise cements IGL as the number 1 player in the...

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10/08/2022 16:53

Ive Group (IGL) $2.27

IGL +4.13%: Today announced they are the preferred party to negotiate and acquire their major competitor (Ovato) that recently went into administration. The move has the potential to add over $200m in annualised revenues, a significant asset base and deliver material synergies (if successfully delivered and ACCC approved). This event has been a long time coming as OVT has had material difficulties, of which COVID has exacerbated. We would expect any transaction when all said and done to be highly accretive to IGL, albeit with plenty of water to flow under the bridge and more information to come.

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