Fund Manager Summary on IVE Group Ltd (ASX:IGL)
In December 2023, Renaissance Asset Management commented that IVE Group Ltd (ASX:IGL) was out of favour due to tax loss selling but remained attractive given its roughly $100m EBITDA, acquisition-driven growth in 2023 and efficiency and site rationalisation measures expected to improve returns. Across fund manager commentary the consensus is that IGL’s shift from a print-dominated business to integrated media services—including letterbox distribution (now a monopoly), creative services, data and digital communications and marketing—has made revenue stickier (around 75% of clients use more than one service) and provides structural tailwinds via cross-selling to large corporate clients such as Woolworths, Westpac, ANZ and Resmed; actionable opportunities highlighted are capturing full-year benefits of 2023 acquisitions, delivering cost savings and completing site rationalisations to drive modest earnings growth, while principal risks include legacy printing-sector perceptions and peer underperformance that suppress valuation, execution risk on integration and efficiency initiatives, and market volatility from tax loss selling (IGL traded down to a PER of 5.5X and near a 12% fully franked yield mid-year, later cited around a F23 PER of 6.5X and a DY of 8.4%), so investors should prioritise monitoring operational delivery, margin improvement, acquisition outcomes and client retention.
Commentary From The Managers
There are 1 insights from 1 fund managers regarding their investment in IVE Group Ltd (ASX:IGL) available on Thesis Tracker.
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Commentary From The Managers
The completeness, accuracy or current status of the investments referenced are not guaranteed.
Frequently Asked Questions
Who is investing in IVE Group Ltd (ASX:IGL)?
Fund managers including Renaissance Asset Management have invested in IVE Group Ltd (ASX:IGL).
Why do fund managers invest in IVE Group Ltd?
Fund managers cited IVE Group’s roughly $100m EBITDA, 2023 acquisitions and efficiency measures as drivers of modest earnings growth. The business has shifted from commoditised printing to integrated media services—letterbox distribution, creative, data and digital communications—serving large clients like Woolworths, Westpac, ANZ and Resmed. A depressed share price and tax‑loss selling produced low PERs (around 5.5–6.5x) and high fully franked yields (circa 8–12%), offering a risk–reward balance given printing‑sector caution.
What happened to IVE Group Ltd (ASX:IGL)?
There have been no recent updates from fund managers regarding IVE Group Ltd although fund managers including QVG Capital have previously commented.
What is the short interest in IVE Group Ltd (ASX:IGL)?
The short interest in IVE Group Ltd (ASX:IGL) is 0.06% which makes it the 447th most shorted stock on the ASX. Of the 153.8M shares that IVE Group Ltd has on issue, 97.6K have been sold short.
What does IVE Group Ltd (ASX:IGL) do?
IVE Group Ltd. engages in the provision of communication solutions. Its services includes creative services, personalized communications, print production, retail display, promotional merchandising, third party sourcing, logistics and fulfilment and managed solutions. The company was founded in 1996 and is headquartered in Sydney, Australia.