Image source: © Tashatuvango | Megapixl.com

Highlights

  • Infomedia is a global provider of Desktop as a Service (DaaS) and Software as a Service (SaaS) solutions
  • From the past 12 years, the company has consistently delivered growth in revenue
  • Viburnum Funds Pty Ltd has the maximum stake in IFM with a shareholding of ~12.46%

Infomedia Limited (ASX: IFM) is an ASX-listed company which provides Desktop as a Service (DaaS) and Software as a Service (SaaS) solutions across the world, that assist in empowering the data-driven automotive ecosystem. The solutions offered by IFM help in managing the customer and vehicle lifecycle.

The AUD 569.31 million market cap company recorded double-digit growth in underlying cash EBITDA, recurring revenue and net profit after tax in the financial year 2023 (FY23). From the last 12 years, the company has continuously delivered revenue growth and for the past six years, it is registering growth in recurring revenue.

In FY23, total revenue increased by 8.1% YoY to AUD 129.9 million, recurring revenue zoomed by 11.2% YoY to AUD 128.1 million and underlying cash EBITDA surged by 14.4% YoY to AUD 28.4 million. The period saw growth in all regions and products, and completion of phase one of transformation strategy.

Top 10 shareholders of IFM

The top 10 shareholders of IFM have around 48.65% shareholding in the company, while the top four have nearly 33.11% shareholding. The highest stake is held by Viburnum Funds Pty Ltd followed by Selector Funds Management Limited with a shareholding of ~12.46% and ~7.95%, respectively.

Recent business update

On 25 October 2023, the company informed that it is due to hold its annual general meeting on 28 November 2023.

Through an ASX-filing dated 13 October 2023, the company informed that Viburnum Funds Pty Ltd and its related parties have decreased voting power in IFM to 12.46% from 14.46%.

Outlook

In FY24, the company expects to deliver revenue in the range of AUD 135 million – AUD 142 million.

The company informed that it would remain focused on continuously investing in global expansion and merger & acquisition opportunities, executing new OEM partnerships and expanding into new geographies. Moreover, the company will be committed to driving operational and efficiency excellence and strengthen its organic growth profile.

Share performance of IFM

IFM shares close 1.32% down at AUD 1.495 apiece on 24 November 2023. With this, IMF’s share price has surged by nearly 36% in the last one year and has decreased by 8.84% in the past three months.

The 52-week high of IFM is AUD 1.78, recorded on 28 August 2023, while the 52-week low is AUD 1.06, recorded on 9 December 2022.

 

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

 

Note 2: The reference date for all price data, currency, is 24 November 2023. The reference data in this report has been partly sourced from REFINITIV.