IVE Group 2024 Annual Report Released

IVE Group has released its 2024 annual report, showcasing consistent growth and strategic expansion.

Revenue reached $970 million—up by 0.3% from the previous year—the report says this demonstrates resilience amid a challenging economic environment. Net profit after tax (NPAT) increased by 8.4% to $43 million, while earnings per share rose by 5.8%, marking a positive trend in shareholder returns. The group also maintained its fully franked dividend at 18 cents per share, consistent with the previous year.

Throughout 2024, IVE focused on strategic acquisitions and integration efforts to expand its services and strengthen its market position. A key highlight was the early completion of the Ovato asset integration, which was finalised six months ahead of schedule. This integration, alongside acquiring JacPak, a Melbourne-based packaging company, boosted IVE’s revenue and enabled the group to enter the Australian fibre-based packaging sector. JacPak is projected to contribute an annual income of approximately $45 million, and IVE aims to scale this business further through organic growth.

The report also highlights the strong performance of Lasoo, IVE’s e-commerce platform launched in October 2022. Lasoo outperformed initial targets across key metrics, including user engagement, transaction value, and retailer onboarding. By the end of FY24, the platform had achieved a monthly active user base exceeding 335,000, with impressive growth in average basket size. This performance has encouraged IVE to increase its investment in Lasoo, with the goal of scaling the platform significantly in the coming years.

Also, in the Annual Report, IVE emphasised its commitment to sustainability in 2024. The group advanced its sustainability strategy, establishing a partnership with Iberdrola to source renewable energy equivalent to 98% of its demand at major production sites. Other initiatives included launching a sustainability training program for client-facing employees and providing mental health first aid training to over 60 staff members. IVE also appointed a Chief People & Sustainability Officer to lead its social responsibility and workplace wellbeing efforts.

The acquisition of Elastic Group, a creative agency specialising in video content and visual communication, further strengthened IVE’s Creative, Content & Integrated Solutions business. Elastic Group’s client base spans multiple sectors, including automotive, government, and finance, positioning IVE to deliver a more comprehensive, integrated service offering to clients.

The full report is available on the IVE Investors Hub.

The Group’s Annual General Meeting (AGM) is scheduled for Tuesday, 19 November 2024, commencing at 10:00 am AEDT. It will take place at KPMG’s offices in Barangaroo, Sydney.