IVE increased its revenue by 30 per cent in FY2017 thanks to its heatset web acquisitions, several large contracts secured, and continued growth of its data analytics, marketing automation division Kalido, with expansion locally and into Asia. This is a continuation of its strategy in becoming a full service marketing and print communications provider.

Making $496.8m in revenue for the 2017 full-year, IVE substantially improved its 2016 result as Franklin Web and AIW came into the fold half way through the year.

Pro-forma EBITDA for 2017 is $55.2m, a 23 per cent increase from the pcp, which IVE says was achieved via a combination of revenue growth and continued highly efficient operations.

IVE acquired the heatset web operations Franklin WEB and AIW Printing, for a total $116m. IVE says it has secured $70m in incremental annual contracted revenue since then, including contracts with Coles and Pacific Magazines alongside the extended and expanded NARTA contract.

As part of its financial report, IVE is including a fully-underwritten, accelerated, non-renounceable Entitlement Offer to existing eligible shareholders. Looking to raise $55.6m in capital, the company is issuing 27m shares at $2.05 per share.

This money will be used to fund its acquisition of SEMA, and purchase a second large format web offset (LFWO) press for Franklin WEB in Sydney, NSW to balance capacity between Victoria.

Looking forward, IVE provides FY2018 EBITDA guidance of $70-75m before restructuring costs (expected to be $2.5M – $3.5M), and excluding the impact of the SEMA acquisition and benefits of the second LFWO press in Sydney. The company says it also has a strong pipeline of value accretive acquisitions, which if completed would be expected to provide additional revenue and EBITDA.

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