• Record half-year revenue and earnings exceeded top end of guidance
• Data Centre revenues grew 16%, or 25% including a key order slippage
• Acquisition of Platinum Cables completed, strengthening mining/resources presence
• Strong balance sheet and cash flow with conservative leverage

IPD Group Ltd (ASX:IPG) has reported strong financial results for the half year ended 31 December 2025 (1H26), with record revenues and earnings exceeding the top end of guidance provided in November 2025. Revenue grew 8.9% year-on-year to $192.7 million, while Underlying NPAT increased 8.3% to $14.4 million. The company's diversified product offering continued to drive growth in key infrastructure sectors, including Data Centres, Infrastructure/Industrial/Mining, and Water & Waste Water, which collectively grew 13% year-on-year. Data Centre revenue rose 16% to $32.8 million, or 25% including a key order that slipped from December 2025 to January 2026. The core IPD business also saw an 11% revenue increase. Larger projects have contributed to revenue growth, though the competitive dynamic resulted in a 190 basis point decline in gross margins to 33.3%. Operating expenses as a percentage of revenue continued to decline, contributing to stable Underlying EBITDA and EBIT margins. On 31 December 2025, IPD Group completed the acquisition of Platinum Cables, a leading provider of high-performance cable solutions for the mining and resources sector. The $37.5 million acquisition was highly accretive, adding 11.5% to pro forma FY25 EPS. IPD Group maintains a strong balance sheet, with net debt of $24.4 million and conservative leverage of ~0.5x net debt/pro forma FY25 EBITDA.

The Board expects the Company to deliver a solid full year performance, supported by several positive operational and financial indicators, including a healthy order book and well-qualified opportunity pipeline.