• FY25 results: Statutory NPAT of $68.8m, Underlying EBITDA up 6% to $207.2m
• Responding to market challenges: Targeting new jurisdictions, driving new business, reducing costs
• Remuneration changes: Increased equity in STI, relative TSR in LTI, restructured KPIs

IPH Ltd has provided its 2025 AGM addresses, including an update on FY25 results and trading for the first four months of FY26. In FY25, the company reported a Statutory Net Profit After Tax of $68.8 million and Underlying EBITDA of $207.2 million, up 6% on the prior year. The Board declared a final dividend of 19.5 cents per share, bringing the FY25 total to 36.5 cents per share. The company is responding to market challenges, including the significant downturn in US PCT filings, by targeting new jurisdictions beyond the US, driving new business development, reducing costs, and implementing a refreshed group-wide incentive program. The Board has also made changes to the remuneration framework, including an increase in the portion of STI delivered in equity and the introduction of relative Total Shareholder Return as an additional vesting condition for the LTI program. In the first four months of FY26, the company has seen a pleasing return to earnings growth in Canada and Asia, partially offset by a decline in the Australia and New Zealand segment. The company remains confident in the medium-term fundamentals for IP and its ability to restore value in the long-term.

For the first four months of FY26 (1 July - 31 October 2025), IPH Group Revenue was $241.7 million, up 7% on the same period last year, with Group Underlying EBITDA of $72.4 million, up 13% on the same period last year.

While the macro environment has been challenging, IPH is focused on driving organic growth and generating operating efficiencies. The company has realigned its cost base to drive $8-10 million in annualised cost savings from FY26. IPH remains confident in the medium-term fundamentals for IP and its ability to restore value in the long-term.