February 27, 2023
IVE Group Limited (ASX:IGL) Executive Chairman Geoff Selig, CEO Matt Aitken and CFO Darren Dunkley present on the group’s FY23 H1 results.
Highlights:
— Revenue: $502.8m ↑ 31.4% on PCP
— EBITDA: $65.0m ↑17.7% on PCP
— NPAT: $24.3m ↑16.5% on PCP
— Earnings per share: 16.5c ↑12.8% on PCP
— Material profit margin: 44.2% 47.5% PCP
— Operating cash flow to EBITDA: 56.7% 77.8% PCP
— Net debt: $97.5m
— Cash on hand: $56.2m
— Interim dividend: 9.5c per share fully franked ↑11.8% on PCP
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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