• Record half-year revenues and earnings above guidance range
• Core IPD business grew 5.2% on pro-forma pcp, while CMI Operations declined 3.3%
• Data Centre revenue growing strongly, up 25% as a percentage of revenue

IPD Group Limited (ASX:IPG, 'IPD' or the 'Group') has released its financial results for the half year ended 31 December 2024 ('1H FY25'), reporting record half-year revenues and earnings above the top end of the guidance range. Revenue for the period was $176.9 million, representing 46.6% growth on the prior corresponding period (pcp) and 2.3% growth on a pro-forma pcp. The core IPD business saw gross revenue growth of 5.2% on the pro-forma pcp, while the CMI Operations cable business, which is largely attached to the commercial construction sector, saw a 3.3% decline in gross revenues due to wider macroeconomic challenges. Despite these challenges, the Group's diverse product range has enabled it to benefit from growth in industries such as Data Centres and Water & Waste Water, with Data Centre revenue growing strongly, up 25% as a percentage of revenue. Gross profit margins of 35.2% for 1H FY25 have marginally reduced on FY24 pro-forma gross margins of 35.4%, as the order book transitions from daily trade to larger, more complex and competitive orders. The Group has also made additional investments in the operating cost base, including additional project teams, personnel, and resources, which has impacted margins in 1H FY25. Earnings per share of 12.9 cents for 1H FY25 is up 19.4% on the pcp, demonstrating the success of accretive acquisitions made in FY24. The Group's balance sheet remains strong, with net debt reduced to $2.2 million as at 31 December 2024, and subsequent to this date, the Group has repaid $10.0 million of core debt. The Directors have declared a fully franked interim dividend of 6.4 cents per share, payable on 10 April 2025.

For the half-year ended 31 December 2024, the Group reported revenue of $176.9 million, EBITDA of $23.6 million, and NPAT of $13.3 million.

While some end markets are challenging, IPD continues to capitalize on emerging opportunities driven by the transition to renewable energy, increasing demand from data centres, the expansion of EV chargers, and a supportive legislative environment. Management remains focused on executing strategic priorities, long-term value creation, adapting to market conditions, and delivering sustainable growth.