• Intelligent Monitoring Group raises FY24 EBITDA forecast following strategic acquisitions

  • May 13 2024
  • Length: 9 mins
  • Podcast

Intelligent Monitoring Group raises FY24 EBITDA forecast following strategic acquisitions By cover art

Intelligent Monitoring Group raises FY24 EBITDA forecast following strategic acquisitions

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  • Summary

  • Intelligent Monitoring Group Ltd (ASX:IMB) managing director Dennison Hambling sits down with Proactive’s Jonathan Jackson to discuss updated financial expectations following the acquisition of ADT in August 2023. Initially, IMG projected an underlying EBITDA of $29.8 million for FY24, reflecting 11 months of ADT ownership and an increase from FY23's $24.8 million. The company has now raised these estimates to $32-32.5 million for the FY24 underlying EBITDA and $33.5-34 million for the annualised figure. Hambling expressed satisfaction with the company's progress, highlighting the transformation from a collection of small businesses into Australasia's largest security monitoring business. With the integration of the nationally recognised ADT brand and the recent addition of Signature Security, IMG has significantly expanded its reach, serving more than 200,000 customers across the region. Hambling noted the importance of ongoing transitions, such as the switch from 3G to 4G networks in Australia and the commencement of the Sybersense rollout. Hambling also discusses the binding sale and purchase agreement to acquire 100% of Adeva Home Solutions Pty Ltd. The acquisition is expected to add $9 million in revenue and $800,000 EBITDA to the IMG group in FY25, representing a purchase value of 2.8x pro forma FY24 Adeva EBITDA. Looking forward, he anticipates FY25 to be a pivotal year, marked by optimism for IMG's future growth and development.
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