Okay, perfect. Thank you, and good morning and welcome, everyone, both in the room here in Sydney and online. My name is Matt Aitken. I'm the Managing Director of IVE Group for those that I haven't met before. The format of today is a little less so from myself and Darren, who many of you have met before in our investor sessions, and an opportunity to hear from many of the executive team. The whole executive team are here today, and we'll do a quick introduction in a moment, and then the team will tell you a little bit about themselves when they get up to speak as well. We want to finish with enough time for you to enjoy a sandwich with us at the end, for you to meet and talk to the exec team. We've got props around in the room. Some of them will become more familiar to you when we go through some of the slides and part of the presentation today. We really want to give you a feel for how's trading been in FY 2025. Where are we looking to take the business over the next five years when we look out to 2030? What does capital management look like for this business? For you to see that we have a very, very strong executive team, a very strong crew of people, and our 2,000 staff right across our business, and an exec team that are from a very diverse background, and it's the right team to work with the business moving forward. The toilets, for anyone who needs them, are straight out the doors and out the back, and there's more coffee, tea, and food out there for anyone who wants that as well. A pretty lengthy agenda. We'll try and keep it moving. Each of the presentations from each of the team will be sort of circa 15 minutes max. I just wanted to quickly touch on who's in the room from IVE at an exec team level here today. Darren Dunkley, CFO, many of you have met before. Darryl Meyer, this is CEO of Marketing Activations. Darryl will tell you more about his background when he gets up to speak. Cliff Brigstocke, Group Executive of Marketing Activations. Rob Draper, CEO of Lasoo, our eCommerce division. Sean Smith, CEO of our Customer Experience and Data division, CX & Data. Mick Bettridge, CEO of Creative, Content & Integrated Solutions. Also joining from the exec team is Olivia Tyler here, who's our Chief People & Sustainability Officer, and Emma Johnstone, who is our Chief Marketing Officer. Do you want to say a quick couple of words just about your own backgrounds, given you're not presenting? I've been with IVE Group for just under 12 months in a full-time capacity. I have about 25 years' experience working across sustainability, risk, and governance across the financial services sector, professional services, retail, consumer products. I have worked in Westpac, Woolworths, Crossroads, Treasury Wine Estates, so I have a pretty deep understanding of those markets. I oversee our compliance, safety, people, and sustainability function. Yeah, I'm Emma, and I'm a Chief Marketing Officer. I've been with IVE for just over four years. I came across the Department of Acquisition in 2021 within the Brand Application space. I've been in the industry for a while. I hail from the U.K. originally, so I've done my career in agency, range of B2B and B2C, both in London and Melbourne. I worked [audio distortion] Also with us this morning is Tony Jackson, who's our Head of Investor Relations. Tony was leading Investor Relations for QBE prior to joining ourselves. And Simon Sekulov, who is next to him. Simon heads up all of the data research and insights requirements for our business and has been very deep in the catalogue research project that Darryl's going to talk to you about later. Again, post today, if you get an opportunity and you want to talk to Simon about what we're seeing in and around the insights that we're taking back to retailers about the power of the catalogue as a media channel, please feel free to go up and ask him. For those of you who don't know me well enough and don't know my background, I've been with the group for 26 years. Prior to that, my background is in marketing and financial services and in the ad agency and data consultancy space. I've been Group CEO and more recently Managing Director for the last six years. I just want to touch quickly on an FY 2025 update for you, and then we'll get into the vision, the strategy, and our ambition for this business out to FY 2030. We are upgrading the underlying NPAT for the business to AUD 52 million from our previous guidance of AUD 47 million-AUD 50 million. Maybe not unexpected by some, but trading certainly at an earnings level and a margin level has continued to be positive as we've gone through H2. We have realized further margin expansion through that time, but it has also been offset by an ongoing softness in some of the revenue in some parts of the business that we called out as we closed out H1. We particularly have seen a pretty flat level of activity post-election or leading into the election and then post-election. So we did a lot of work, obviously, in the election space, but a number of clients were pretty quiet through that period and have not necessarily activated post-election. So that's just impacted the revenue line marginally. Our Lasoo NPAT loss will be in line with what it was last year and what we've guided previously, and our restructuring and other costs will be about AUD 2 million-AUD 2.5 million, which is slightly lower than what we called out at the H1 result. From a capital outlook perspective, and Darren will talk a lot more about capital soon, the CapEx will be about AUD 29 million, and again, slightly lower than what we called out at the H1. So we called out AUD 32 million at our H1 results. Net debt will continue to be well below our internal benchmark target of 1.5x pre-AASB 16 or 1.2 x post-AASB 16. The annual dividend will be AUD 0.18 per share, fully franked, which says that we expect we will pay an AUD 0.085 final dividend when we close out the financial year. We still have the on-market buyback in place for the share buyback, and Darren will give you some data in his presentation about how we've progressed with that buyback since we commenced it earlier this year. Just touch on the marketing communications landscape and some of the vision, and we'll come down and sort of what does that mean for IVE. The marketing communications landscape is evolving rapidly, driven by digital advancements, shifting consumer expectations, and the growing importance of data-driven strategies. Businesses that will lead the future, both in Australia and globally, are those that can effectively harness these digital capabilities, create engaging experiences, and respond quickly to the ever-changing demands of modern audiences. IVE is uniquely positioned to capitalize on these shifts with our seamless omnichannel capabilities, our marketing solutions, and our deep understanding of consumer behavior. This puts us in a prime position to lead at an increasingly dynamic market, and we will illustrate this to you as we go through today. We've got 10 key market trends, and I'm not going to read each one of them verbatim for you, but in this dynamic environment, these trends will shape the industry over the coming years. The trends highlight the areas where IVE will leverage its diverse capabilities to drive future growth. If I just touch on some of these, the first one, the rise of retail media. This is a AUD 2.6 billion sector in Australia today, growing to AUD 3 billion. If you think about retail media, you might be thinking about the likes of Cartology at Woolworths, Coles 360 at Coles. We have the best list of retail clients in the country, bar none. We are inside client stores each and every day, helping them attract shoppers and convert shoppers to buyers. We're fitting those stores out, whether it's with big Country Road bags like this or point of sale in Woolworths supermarkets and in Chemist Warehouse. We print every retail catalogue for every retailer in the country. We manage and we work with our clients in and around their own media assets every single day. Not every retailer in this country can afford to do what Coles has done, what Woolworths has done, what Bunnings is doing, what Chemist Warehouse has done. We think there's a really nice niche when we think about retailers with, let's say, 400 stores or less, but particularly when we think about stores with 50-100 stores, retailers with 50-100 stores, helping them grow a retail media strategy in their business. Retail media doesn't mean digital screens in store, but yes, that's a component of what retailers are looking for as part of that strategy. Retail media is about commercializing your owned assets, and the catalogue is a major component of an owned asset for a retailer, just as the in-store footprint is. We think there's a much more meaningful role for us to play in this space down in maybe that tier two retailer space. We're not going to try and compete with Woolworths or Cartology. They're a very big client of ours today, but we think we have a really great client list that is suited to move into this space moving forward. It's a growing sector and one that really interests us. Evolution of the customer experience and data-driven insights. There's a far greater demand for real-time personalised customer experiences, and you'll hear from Sean soon as to what we're doing in the space with our CX & Data division, which is significant. That division alone employs 400 of our staff today. It's a division that you've not heard a lot or not heard us talk a lot about in the past, but it is a division that we'll spend more time giving you some color on today because it's a very significant component of our group. The third point, the resilience of print. There's no doubt print remains a very strong media channel despite the disruption it's faced over the last 10 years, and that's been evident for everyone to see. Darryl's going to talk to you about what he's seeing in that space and what we're doing to drive further value and engagement in the print channel, and you'll see that in and around what we're doing with research, what we're doing with Connected Catalogue. We have a sample Connected Catalogue here that both Darryl and/or Mick would be happy to talk to you about after this as we talk to you about how we bind both the digital ecosystem and the physical ecosystem together to drive real measurement for retailers and effectiveness off the back of that catalogue, which seems to be something that retailers are really struggling with. Packaging, again, you'll hear from Darryl on our packaging journey. We've spoken a lot about it in the last 18 months. It continues to go well. Clearly, it's a sector that's got a lot of good growth prospects for us. Mick is going to delve into the omnichannel marketing and unified commerce space. This will give you a better insight into what we're doing there today to provide seamless brand experiences for consumers across all touchpoints, whether that's online, mobile, or in store. It will also illustrate how we're thinking about our creative and content offering over the next five years. If you haven't already, I expect you're going to hear the term unified commerce being mentioned a lot more into the future as that becomes more in vogue and more to the fore in the marketing space. Mick's presentation will also touch a little bit on items nine and 10 on this page here. Rob will take you through the Lasoo journey and how we're tracking with Lasoo and our e-commerce strategy. You'll pick up a reference to AI as we go through today in many of the presentations. Outside of where we're using it in the business today, we also have a larger AI workstream going on in the business to drive efficiencies right through our business. We expect it to be a major component of how we engage and service customers into the future. Cliff will talk through a number of areas of our business. He's going to cover three areas today that he is responsible for. One of those is 3PL, where we've seen strong growth in the last five years and we expect to see further strong growth through the supply chain evolution and e-commerce growth as it continues to rise in the years to come. We aren't talking about every part of the business today. Distribution is one of those that we're not talking about. Merchandise is one that we're not going to spend a lot of time on. We wanted to focus on business units that we thought were meaningful and pertinent without going through the entire shopping list and really focus on where we see the growth and the activity happening for some of these businesses over the next five years. What does this mean for IVE? IVE is, or we are, ideally positioned to leverage these trends and become a key player in the evolving marketing landscape. Our existing omnichannel solutions align with consumers' growing expectations for seamless personalized experiences, with 92% of consumers expecting consistent interactions across all channels. IVE's capability to deliver the omnichannel solutions at scale will drive significant customer loyalty, and you're going to find through today's presentation how we're going to do that and why. If I touch on our vision, so we're coming from sort of the trends and what we see as happening in the future and what's coming at us into our vision for this business to be the leading integrated marketing solutions provider delivering impactful human-centered experiences for brands across all channels. As 2030 approaches, we're already transforming to meet the fast-growing and fast-changing expectations of tomorrow's consumer. Advancements in technology, including hyper-personalization and other terms you're going to hear a lot of with AI coming at us, and the increasing shift towards sustainability as a core business driver. Our goal is to position IVE as the leader in the omnichannel solutions space, leveraging our strong foundation in creativity, sustainability, and technological innovation. What truly sets IVE apart is our clients, our long-standing blue-chip clients, our people, 2,000 fantastic staff, complemented by our comprehensive manufacturing capability and national footprint. Our breadth and depth in this space has enabled us to deliver end-to-end solutions across print, packaging, logistics, and digital technology, and that unique combination of capability solidifies our position as a fully integrated omnichannel provider that can execute across every customer touchpoint from concept to delivery at scale. In today's presentation, we'll provide an overview of our market position and outline our strategic vision for 2030, and we will continue to invest to position IVE as a leading integrated marketing solutions provider. We're going to go through all the things on this slide, but if I just spoke to the four core values guiding us on this journey, absolute care for our people, the safety of our people, the culture that we have in the business, continuing to grow that culture. We have a fantastic culture, a laser focus on efficiency and automation, and that's right through the business, but it's very evident in parts of the business that Darryl will talk to you about today and how we are winning in that print space with what we're doing there, how we're going to use AI to accelerate and streamline operations. Really, really important to us that we protect our core. We'll refer to that sometimes today as the traditional sectors of the business, but more the print businesses. We're going to continue to invest in that part of the business, but we are absolutely committed to protecting the core of the business and continuing to invest in print as a media channel. Again, as I said already, you're going to hear more about that. We have really high expectations around how we continue to accelerate growth for the business, both organically and inorganically, both in spaces that we're in today and new spaces as we go through the next five years when we think about areas like retail media. This is not a forecast. This is our ambition. This is our vision for IVE when we think about from now to 2030. We want a business that has between AUD 1.2 billion and AUD 1.3 billion, AUD 1.25 billion. A business that is growing both organically, but we will be doing acquisitions through that time as well. We want the business to be delivering EBITDA margins of greater than 15%. To context that today, we are in the 14% range. We want to deliver at least 3%-5% EPS annually. We want to be very mindful that the revenue mix has a mix of traditional, as I touched on earlier, but also a mix of growth, and we want to continue to accelerate those growth areas and protect the traditional revenue streams. We have a number of acquisition growth areas that we'll continue to explore in addition to the organic growth strategy that we're pursuing, and they are in the areas of creative and content, brand activations, retail media I've touched on already, merchandise, apparel and uniforms, 3PL and CX & Data. You will pick up from some of the conversations today what we're looking to do in those spaces. At all times, we will keep the balance sheet in a very conservative, stable position with net debt below two times, but more often than not well below the 1.5x internal company target that we've set for ourselves, but we will lever up to two if we need to. I was going to say questions later, but Chris. No, I don't, but that doesn't mean that we won't do it, and I think it might come up in the packaging slide, but yeah. If I maybe move more to this page here, I just want to talk to you about sort of that journey. Sorry. I suppose what I've tried to illustrate for you is what do we think's happening in the market and the trends? What does that mean for us? What's our vision? It's all very well to say that, but I also want to explain to you the track record the business has been on over the last 10 years and why I believe we've earned the right to pursue this strategy over the next five years. As you know, we listed almost 10 years ago in 2016. Sorry. We've spent a lot of time, if I think about that period of 2016 to 2022 and 2025, consolidating existing market segments, diversifying into adjacencies both organically and inorganically to capture increased share of wallet and new customers, increasing the products and services that we sell, our 2,800 customers, to drive revenue growth and optimize customer retention. That has risen over time from 74% to 86% of all customers buying more than one product or service of us today. In around 2022, we acquired Ovato. For that period of 2016 to 2022, we've done some print consolidation through that period of time. We've diversified out into other markets. We acquired Ovato in 2022. We've continued to organically grow and expand the businesses that we're in. The consolidated traditional print revenue from FY 2016 to FY 2025 is a CAGR of 13%. The diversification into adjacencies, so the non-print revenue on this chart is a CAGR of 10% during that time. I point to business units like brand activations on this chart where you can see they have grown exponentially through that time. I would say to you about 50% of the brand activations revenue today is acquired revenue, and 50% of it is organically grown revenue. We did not have that capability in our business in 2014, 2015. We have grown it from nothing to a business that today is doing circa AUD 140 million-AUD 150 million. It is an important piece when we talk about growth aspirations in and around packaging. Today, we have a diversified revenue base approaching AUD 1 billion, leading market positions across most revenue streams, and no single competitor spanning our collective markets. We have competitors in individual markets, absolutely, but we do not have one headline competitor for this group in Australia. As we think out from 2025 and where we're going to land or where we estimate we're going to land in out to 2030 and our ambition, we're foreshadowing a low single-digit decay in print. We're in our traditional revenue streams, and you can see that there. Obviously, the revenue continues to grow. Print becomes a smaller proportion of that, but we do believe that there will be a low single-digit decay in that print revenue stream through that time. More modest print consolidation opportunities do exist, and that will come out of Darryl's presentation. You will see and understand that there may still be some markets in that print space that are worth us consolidating further, albeit that is not the core focus for the group as we look out over the next five years. Accelerated growth in scalable non-print segments, both organic and inorganic, when you look out on that right-hand side. You can also start to see the Lasoo revenue stream starting to come in in a greater way through that period of time. Darren is going to touch soon on the funding and how we are going to do that for more EPS accretive growth. But hopefully that, again, as I said, illustrates for you what we see the market trends as being, where we think IVE needs to be over the next five years and what we've done over the last 10 years to be ready for the next five years that we're going to take the journey. I'm going to hand over to Darren. Thank you, Matt, and good morning, everyone. My name's Darren Dunkley. I'm the CFO of IVE Group. I've been with the company for close to 26 years now, and I've been CFO since 2012, so I know the business relatively well. I'll take you through the capital management outlook section of our strategy session presentation. Thanks for joining us today. My first slide is our corporate debt facility update. In May of this year, the company refinanced its senior debt facility for a further four years, which is a great outcome. This also allows for further headroom growth as well. The syndicate has also expanded up to four banks, previously three banks, and we've now introduced another major bank into our syndicate. Terms have improved, slightly lower margins over BBSY, and that's really recognizing the group's really strong balance sheet and significant covenant headroom has been retained. Share buyback. To date, we've acquired 707,000 shares acquired to date. Total cost is AUD 1.6 million and an average price of AUD 2.26 per share. The program remains in place with a disciplined, market-responsive execution strategy. Dividend policy. Annual dividends remain fixed at AUD 0.18 per share for the short to medium term, resulting in the payout ratio trending below the historic 65%-75% underlying impact range, increasing reinvestment capacity. Capital expender outlook and strategic spend. FY 2025 capital expenditure to be around AUD 29 million, and that's net of asset disposal proceeds. The AUD 29 million includes AUD 18 million of capital expenditure relating to the packaging/sheet fed replacement investment. Now, it's important to note for this capital investment, it has two purposes. That is replacing our aging sheet fed presses to be more efficient and at the same time providing capacity to organically grow our packaging revenue. FY 2026 capital expenditure is expected to be similar to that of FY 2025. Again, AUD 12 million remaining in the packaging equipment investment and the Sydney super site, which Matt will touch on later as well in the presentation. Post FY 2026, capital expenditure is expected to normalise at circa AUD 15 million per annum, excluding any one-off growth initiatives. It's also important to note that the packaging sheet fed replacement capital expenditure investment has a long useful life. Restructuring and one-off costs. FY 2025 abnormals have remained significantly lower to that of previous years, with FY 2025 expected to be AUD 2 million-AUD 2.5 million. That's net of profit on sale of fixed assets. FY 2026 restructuring one-off costs are expected to increase on FY 2025 due to the Sydney super site relocation, temporary rent duplication from site transitions, and lease expiry timings. Dandenong South 3PL relocation. Further guidance will be provided on the release of the FY 2025 results. Cash flow, working capital, and debt capacity. Cash flow and working capital. No major working capital increases are anticipated in FY 2025. FY 2026 working capital is expected to stay consistent with increase aligned to revenue growth. Revenue mix supporting now to 230 ambition is expected to be less capital intensive moving forward. We will continue to maintain our high operating cash conversion. Debt capacity and balance sheet flexibility. FY25 net debt expected to remain below 1.5x pre-AASB 16 EBITDA or 1.2x post-AASB 16 EBITDA. The Board maintains internal target of 1.5x. However, the balance sheet is in excellent shape and can comfortably support up to 2x pre-AASB 16 EBITDA. This, in essence, allows for an AUD 90 million in additional debt capacity on our expected FY 2025 net debt levels to fund future acquisitions, and that excludes the acquired earnings from those acquisitions as well. As a recent example of the business's ability to flex its balance sheet, immediately post the packaging acquisition in H1 and FY 2024, net debt initially increased to circa 1.7x pre-AASB 16 and then quickly returned to below 1.5x pre-AASB 16, has remained below that since. It shows that the business is a strong cash-generative business, and we manage our debt levels very well. I'll just finish by noting that over a five-year period, using modest growth assumptions, the business would have the capacity to generate circa AUD 200 million in net cash to fund further growth in capital management initiatives. This is while leaving the balance sheet in a conservative position of 1.5x net debt to pre-AASB 16. I'll now hand you back to Matt. Thank you. Thanks, Darren. This is where we're just going to get into some presentations from the CEOs about their respective parts of the business. Portfolio of businesses will be familiar to many of you. As I've said earlier, there's a couple up here that we're not going to dive deep into today. As you'll see from our perspective, the core, the print and distribution business very much is about this protect and leverage component of our business, but we have growth expectations on all other parts of the business. I'll invite Darryl Meyer to come up and talk to you about a couple of the business units he's responsible for. Thank you, Matt. Good morning, everyone. Firstly, I'll just give you a little bit of background behind myself. I'm the CEO of Marketing Activations. I've had a career of 30+ years extending across printing operations, having worked for major print companies across both New Zealand and Australia. I joined IVE in 2002 and have been leading our magazine and retail printing operations, including the integration of Franklin Web, IW, and Ovato more recently, along with our distribution business, Celmac, back in 2020. Firstly, I just thought I'd give you a bit of an overview, a short overview of the print businesses. Whilst the business unit encompasses distribution, again, today we'll just speak more primarily around print and then on to packaging. Following many years of consolidation, IVE now enjoys the majority share of the print industry, particularly since the Ovato acquisition and completion of the integration in late 2024. The integration has been successful. It's been margin accretive for the business through synergies and also good buying, strong buying of raw materials in recent times. We operate world-class technology-led operations. We have the best talent in the industry, ensuring that we're in a position to continue to maintain strong, good, strong, profitable businesses while seamlessly adapting to the changing dynamics in the print landscape, as Matt mentioned, around some forecast decline through 2030. Our ambition, though, in 2030 is to protect the underlying strength of the business as a world-class technology-led manufacturer, defend the core client base, and leverage new opportunities as they arise. From a focus perspective, we have a significant and diverse customer base, including the majority of leading retailers and publishers across Australia. Our key focus is to develop and create new products. Similar to what Matt mentioned, the Connected Catalogue, and I have got a copy of that. What that is about is essentially immersing an immersive digital experience into printed product to create a more experiential experience for the consumer. We also have been increasing our client engagement through a research insight project to support the catalogue channel, and I will touch on a bit more of that in a short time. What do we do? IVE is the largest producer of retail catalogs, magazines, and corporate communications across Australia. If you walked to your letterbox and picked out a catalog or received a subscription to your favorite magazine, it is likely that IVE has produced that, and probable that we've delivered it to your letterbox as well with the largest unaddressed mail delivery services in Australia. We're currently operating from five modern print sites with a diverse range of capabilities and printing technologies. We are scaled, but more importantly, we're scalable and adjustable to market demands moving forward. Underlying print remains core to the business. We have deep customer relationships and work really closely with them on their marketing execution programs to drive volume. We're invested, and we continue to deliver strong operating revenue and margin for the foreseeable future. Across the retail, publishing, and commercial print sector, we operate in an addressable market of somewhere around about AUD 800 million to AUD 1 billion. Whilst IVE dominates the retail catalog and magazine print market with approximately 92% of market share, we have three minor competitors in the space. Their limited capability and scale means they do not compete with IVE and large-scale retail publishing clients. The cost of capital expenditure is a significant barrier to new entrants or the expansion of those players. The commercial print market, though, remains more fragmented. IVE is the largest commercial printer with 35% of market share. When I talk about commercial printing, it covers general corporate, government, agency printing, general flyers, and smaller magazines. Our focus on this sector remains on gaining market share through organic growth and leveraging our strong market position as a leader in the sector. However, we do anticipate further consolidation in this commercial sector. It's inevitable across these printers, which will have IVE in a really strong position to grow volume through the disruption created through further consolidation. We also have the ability for further acquisitions in that space in the event that we could pick up the right businesses at a very low multiple of earnings. Again, even in that space, barriers of entry remain very high. At the same time, though, we need to be vigilant, and we are vigilant in protecting the strong client base and the market position that we have today. We have the opportunity to continue to flex and reduce our footprint also as the market changes in time by reducing the footprint of some of our web offset operations as required. I touched on the retail catalog insights program. In the first half of this financial year, we invested in the first major industry catalog research project in recent years. The purpose was to gain insights and understand attitudes towards retail catalogs as part of an omnichannel marketing campaign compared to other advertising media, for example, TV, email, socials, and outdoor advertising. As part of the research, we undertook qualitative research surveying over 2,000 Australians and overlaid then quantitative data, including 64 million scanned data sales from retailers. We took that data and we compared the sales data when the product was advertised in a printed catalog compared to when it was not, and we were able to provide some feedback to our customers on that. From the research, we gained some really key consumer insights. Firstly, the cost of living concerns has become one of the most pressing issues for Australians, with 57% of people now identifying keeping their day-to-day living costs down as their top priority, and over a third of people reporting they're under some financial stress. Most importantly, though, consumers are telling us that retail catalogs influence store and product choice, with 83% of people taking some action having read or consumed a catalog. When the catalog is used as an omnichannel marketing campaign, it outperforms other media for information searching and purchase planning of any product. The catalog, it delivers strong value. We've been able to, our catalog marketing clients are reporting sales uplifts of up to AUD 14.50 for every dollar spent invested in catalogs. We see there being scope for more as consumers tell us they're actually looking for more specials and bargains through the letterbox. Some of the key outputs of this have been the research has been really widely accepted across our client base. We've seen the repositioning of catalogs as a high ROI channel opening up new revenue opportunities. It has been absolutely instrumental in Coles' decision to re-enter the letterbox channel after a four-year hiatus. They are now firmly back in the print channel, and we're getting excellent feedback from these clients. The research has also led recently to Bunnings also confirming a national campaign in the next quarter of the first quarter of FY 2026 after also a long stand outside of the channel. We are also having some really positive discussions with some other leading retail brands. I'll just move now on to packaging and our position in this market and expansion opportunities moving forward. The acquisition of JacPak in late 2023 was our first meaningful move into packaging. It has provided the business a great foundation of customers, the likes of Coles, Chef Fresh, and Good Food Partners, Primo Foods, etc. We have a clear goal to build this revenue out to AUD 150 million by 2030, and we're on track to do that. Organically, we've made really good progress to date, signing new customers like Sanitarium and others. Pleasantly also, too, the packaging sector is projected to grow at 6.5% year on year as clients seek more sustainable packaging ahead of the changes in regulations on plastic usage. We'll talk about the core products of fiber-based folding carton packaging. We operate within the food, pharma, and cosmetic samples, and thanks to my model. When I say folding carton packaging, think things like cereal boxes, muesli bar boxes, laundry powder, freezable products that you see in your local retailer or supermarket, along with cosmetics and pharmaceutical packaging, etc. We do not intend to produce corrugated board products for shipping. Nothing that competes really in the high volume, low margin sector against the Amcor and the Visy of this world. That is product that is typically used for packaging and delivered to your doorstep through online purchases. Our differentiation is that we're nimble. We're ideal for small to mid-tier customers but have the capability to service volume clients as well. Working with IVE, clients do benefit from a really personal technology-led solution to deliver quality products in a timely manner, providing full end-to-end solutions from creative design, manufacturing, storage, and logistics through a combination of all of our business units working closely together. Partnering with the 3PL businesses, we can print, hold stock, and deliver on demand for our key clients. It's a core capability of the business. We will lead the market in sustainable packaging and expand our manufacturing capabilities into New South Wales at our new super site, increasing our capacity by a further AUD 30 million of revenue. Matt will touch a bit more on the site later in the presentation. However, from a packaging perspective, the site will contain a purpose-built, dedicated temperature-controlled zone that will house all the printing and manufacturing capabilities required for a very streamlined, automated, world-class packaging printing facility. From a market perspective, at the time of acquisition, Jac Pak revenues was circa AUD 45 million with AUD 15 million of latent capacity, representing at the time about 5% market share, making IVE at that time the seventh-largest producer in the folding carton packaging sector. The sector is very fragmented. The top three carton folding packaging businesses represent about approximately 50% of the market share. However, there are many other businesses producing the balance. We have since sold all of the latent capacity. We've done an excellent job selling the AUD 15 million of capacity that we had to date as we look forward out into calendar 2026 and are now number five in the folding cartons packaging space with about 7% market share. We'll see some of those contracts come on board over the next six months as some of the lead times do take a while to transition in, but moving ahead very well. From a revenue growth perspective, as mentioned, when we acquired, we acquired revenues of AUD 45 million. We have subsequently sold the latent AUD 15 million of capacity, growing our packaging revenue to AUD 60 million. We're now embarking on the next phase of growth. This revenue growth of circa AUD 30 million is aligned to the expansion of the New South Wales site with the commissioning of two new presses in quarter one, calendar year 2026. That project is on track. The equipment has already been built and is ready to be shipped as soon as the building is ready for commissioning early next year. We have a very strong revenue pipeline, and we're advanced in discussion with the major brands. We also have the opportunity to engage and leverage IVE's 2,800+ customers and service those that have packaging needs within their businesses as well. That will build our packaging revenue out to AUD 90 million and number three in the market at that point. Over a five-year period, though, we continue to grow. We will continue to grow the packaging revenue out towards AUD 150 million with the phase two Victoria and New South Wales expansion, creating what will be the leading folding carton manufacturing business in Australia. The phase two will require further investment at time, either through equipment acquisition, etc. Yes? What's your proposition to customers? What's your point of differentiation? Yeah. So point of differentiation is around the complete offer from creative servicing offering, different fold ideas, speed to market, quality of the product that we're printing. If you look at the main three globals in this market, I would say they're reasonably lazy markets. I'll just stand up and fork in the mic for those online. The question was, what's our point of difference in going into this market? We've got three global players in this market who are all pretty complacent and are also going after a lot of the long-run quick-service restaurant work, which we don't want, a lot of the beverage work and so forth. There are a lot of brands, a lot of customers wanting that more responsive, personalized service, want to deal with an Australian-owned company and maybe not a global who's forcing their own board into this market. Our entrance into that sector, we found, has been really well received. When we bought Jac Pak, its largest contract was about AUD 2 million in size. That now would be about AUD 5 million. By the time we hit the middle of next year, that number probably is going to be north of AUD 10 million. We do not want lots of those customers, but with IVE owning the business, being a good counterpartner, a good partner, building the New South Wales site, being able to store nationally all the way around the country, some of those things are unique to a number of the competitors that were on that slide that Darryl just showed you. Thank you. What I might do now is just hand over to Cliff Brigstocke, Group Executive Marketing Activations. Cliff. Good morning, and thanks very much for your interest. Just by way of background, I have been with IVE coming up to 10 years and prior to that had roles in both FTSE and ASX-listed companies. FTSE was Bunzl in terms of a bigger private. I was with Thomson Reuters as the GM for marketing and sales. Before joining the IVE Group, I worked in a similar industry, but more on the outdoor side, where I was the CEO of that business, which included book production as well as government printing. In terms of today, I'm just going to cover off three business units. It's the third-party logistics, the merch, but focusing more on uniforms and then on brand activations. The good news is that I've got lots of photos. I'm not going to talk to every point, but just to intro 3PL, it's a very good example, I think, of how we can leverage the group with expanded offering. Nine years ago, we had 2,000 m² of a site that provided logistics in Victoria, and we had 5,000 in New South Wales. You will see up here, just above my right shoulder, that we have 80,000 sitting here today, including the commissioning of a new site in Dandenong South. How have we done that over nine years? In essence, we have expanded both the physical product offering, the service offering, and we have taken that to most of our 2,800 clients. For us, when we talk about our 2030 ambition, we want to grow this business by at least another AUD 50 million. We can do that based on entering some of the adjacencies. We have talked here about apparel. At the moment, we are already distributing our own uniform range, but the more we take apparel into our offer, the more distribution opportunities there are going to be. We have a liquor license, and we also are able to supply pharma with TGA in particular. Again, some of the packaging Darryl just talked about, we'll be able to put through our national network of 3PL and keep that all in-house. In terms of the key focus, just above the flexible scalable piece, that for us is adding a little bit more in terms of material handling. Uniforms need just a different flow than the normal 3PL. It needs flow racking. It needs gravity feed. It needs to be able to pick from tote, all of it relatively easy to do. We'll also be introducing robotics into our DCs over time. To give you an example of the further expansion when I talk about moving into adjacencies, and again, these are customers that we deal with but prior to 3PL. A recent win we have is a large business called Vertiv. With the growth in data centers, people like Vertiv carry spare parts. Sitting in our Erskine Park warehouse at the moment, we've got 350 servers, all about 9 ft high and about 4 ft wide in the old language. They're sitting on pallets ready to go to a data centre that might have an issue. They're actually preloaded, pre-spect, and they know which data centre they go to in case that server goes down. That operation for us is 24/7. Yes, we charge for 24/7. That's one of the margin improvements you'll see there. For us, if you look at some of the customers we've got, and they're more traditional, we take product out on a campaign basis to Chemist Warehouse once a month, if not sooner, depending on what they're running. Kmart, once a Fortnite. Westpac, Mars, LEGO, all of these are campaign management. The future for us is doing more of that, but at the same time also bringing a lot of products, and by products, I mean physical products, into our mix. 3PL is expanding. You've seen some of the numbers. Our immediate addressable market share, we believe, is about AUD 500 million. Big opportunity for us. The broader logistics market is massive. That number up there, the AUD 36 billion, does include freight. Depending on the arrangement we have with the customer, we provide freight as well and obviously mark that up to make sure that we manage that end-to-end. In terms of our advantage, I think it's fair to say if we go to that bottom part, we are now managing types of products that we haven't done in the past. Customers are coming to us because we're getting introduced through strong relationships, strong word of mouth. We're also powering up our team. We've got a sales team at the moment of five. We're going to be adding to that over the next couple of months. That means that we're already selling motor vehicle spare parts, tools. OX Tools is a customer that provides the majority of hardware into places like Mitre 10. I've mentioned before uniforms, but also PPE. For us, it's that traditional that we talked about earlier, but it's also adding additional products to that. Couple of case studies here. I'm not going to go through them in the fine, fine detail, but on the Hasbro side, that's us taking product that we produce. That's a display, a retail display for market. That would be going to a large retailer. Often these are co-packed. So we'd be putting the product inside the display or the stand, and then we'd take that out to a Big W, for example. That would be Monopoly, Star Wars, Dungeons & Dragons. Gaming, basically, is Hasbro. Are You Okay? Massive account of ours now. You can see the numbers there, about 21,000 or so filled last year. If you want to have a look at it, it's a great cause. Have a look at their website. I'm sure most of you would have. We're ranging now over 200 individual products, including chocolate, coffee, caps, bucket hats, tote bags, t-shirts, water bottles, you name it. That's the merchandise part of our offer. Goodman Fielder, another great example. Goodman Fielder, we were doing the 3PL for. We're taking particularly their permanent displays or their, sorry, their semi-permanent displays, their stands to market, to the retailer. We weren't producing those, however. The 3PL was taking those in from a third party. Today, we've run that business, and we're now producing that product out at our Granville site. Again, another example of IVE just leveraging what we can do and speaking with one customer across multiple services or products. The new facility we talked about. You've heard that in terms of the capital expenditure plan. We're consolidating two of our Victorian sites. We've got a site with 5,000 m² and another with 15,000. That's 20,000 going into this new site of 33,000. The reason we're doing it is, in the last, well, certainly since I've been here, whenever we've commissioned a new site, within about three years, from a 3PL perspective, we've run out of space. The 20,000 that we've currently got, we just can't take any more business into. This new super site is commissioning on the 25th of July this year. The future for this site will also be taking raw materials from packaging as well as finished goods. We've got a good line of sight of being able to use the capacity. I must say, just as a side comment, in all my years, I've never had a building this site run so early. It was meant to commission sometime in September, and we're about six, seven weeks ahead of when it was going to commission, which is great news for us because we need the space. We mentioned merchandise and apparel, and I was going to talk more about uniforms. Merch is a very important part of it, and we want to grow both these businesses by another AUD 50 million, about 10% each in terms of the 2030 goal. The sorts of customers that we've got at the moment, certainly from a combined perspective, Reece, and I've got a little case study on this in a moment, is a cracker. We brought in just four months ago about 12 container loads of t-shirts and about three container loads of straw hats, and I'll show you the pictures in a sec. For us, we've got such a great customer base, the 2,800 or so, that this is a relatively easy sell. About 50% of all customers, or all businesses, I should say, have got a uniform of one type or another. For us, that's where we go hunting first. We're also looking at a number of the adjacencies, including fast service, food outlets, military. We're looking at sports-related markets as well as industrial. Again, a lot of opportunity. To Matt's earlier point, this business didn't exist until about 2015 either. This is another acquisition that we have organically grown using the group footprint to start with. I'm going to talk here a little bit more about the uniform perspective. Again, for us, it is rapidly growing. We've had great success. Again, I'll show you a couple of case studies. We were lucky enough to get a lead into our business about four years ago who'd done 20 years with H&M. She brought with her a range of people, including designers, fabric experts, and sustainability experts. When we talk about our three pillars, which is that third point down there, we talk about solution-driven design, safety, and sustainability. If I just lift out safety for that with Certis. Whenever you go through the Sydney Airport, the people who will check you, take your bags through, scan you, those uniforms all come from IVE. We have designed them with Certis. We have worked very hard on the specifications, and certainly we have done all the distribution of those uniforms. When we talk about safety, it's about the personal safety as well as the performance of the garment. What's not known is we also do stab vests. Topical, unfortunately, because of the Westfield disaster. When required, we do stab vests for a range of our security customers. I'm not allowed to name them, but there's a very large postal company in Australia that we've just got the green light to do a trial for dog or bite-proof pants for. That may or may not include Kevlar below the knee. We also talk about the sustainability of the product, and that's very important to us. Olivia keeps us on guard, on check. To give an example, that means that we're taking product to market that can actually be recycled. That means a lot less polyester than you would have had in your traditional cheaper garments. It means we're using more recycled components. For example, buttons, they're coming from a recycled pool now. Certainly less plastic in the packaging, which you'd see out in the general retail world. We're also doing some neat things like the Reece t-shirt. Rather than attaching the label to the back, which used to scratch your neck, for most of us who can remember that, we now actually print that label on the garment. Again, just less waste and being able to recycle that garment more effectively. Here's Certis. For us, we've talked a little bit about Certis. As I've said, you'll see them in Sydney Airport. They've got a bunch of other contracts, 4,000 staff. The beauty of companies like Certis, apart from being fabulous to work with, is that they also have a high staff turnover. It's about 35%. Having that sort of turnover is a big number. They were great to work with because they wanted a refresh. This is our design working with their team. We came up with this look and feel. Depending on where they are, it can be a lighter or heavier weight garment. For us, that's making sure that, again, we can come back and recycle that. We've got a take-back program. At the end of the life cycle, which is about two years for this product, depending again on the location, we've got the ability to take that back and with our partners recycle that product. That can be recycled into a whole range of sub-products. The big one, however, and if you ask, and I would ask you to, next time you go through the airport at Sydney, ask them what they think about their new uniform. You'll see the shoulders go back a little bit. Hopefully, they'll tell you it's very comfortable and very breathable. That's certainly been our experience. For us, that's about staff and brand coming together and being satisfied. A quick one. Most of you would know Optus. We have got the contract for both merch and the uniforms. Again, big business, 8,000 staff across about 300 footprint of retail stores and outlets. We've worked with this business for 10 years. That design changes quite often, as you would probably know. Optus has changed their logo and repositioned it in the last five years. For us, again, this is just a great example of them using our 3PL to get this product out to each of those branches. The one I touched on earlier, Reece, we've had such a great relationship with Reece. We worked with them again to design stuff, in their words, that was better than just the norm. They wanted something that would become a bit cultish, their words. Hence the beanies. I don't know if any of you know plumbers, but if you do know a plumber, they love wearing the Reece shirts. They just love the garb. Certainly those straw hats, as I said, a lot of 40-foot containers of straw hats have come in through the 3PL of the IVE Group. We've also done multiple activations, and that's included World Plumbers Day, who knew there was a World Plumbers Day, and their apprenticeship program. When an apprentice starts, we've got the ability to have the kit ready for the apprentice, who can then obviously join that as part of their journey through. We see people wearing the brand proudly. We get very excited because we're part of the design of that. Then we make it, then we deliver it. Very quickly, the last of my three brand activations. Just to talk a little bit about that big photo on the left-hand side there. That for us is the Australian Open centerpiece. For the Australian Open this year, and it was this year, we did all of their large Grand Slam oval signage. If you did go down there and notice the deck chairs, they came from IVE. Again, through our 3PL. We did the stair decals, so the stickers on all the stairs as you go up, that's IVE. We did a lot of the wayfinding. I just thought I'd read this out because we're very proud of what we did. This is from Peter Jack, who's the Head of Precincts at Tennis Australia. IVE's transparency, collaboration, approach, clear communication helped us to create one of the world's leading sporting and entertainment experiences. The success of this event is in no small part due to the role IVE played in bringing it to life. We like the big stuff, but obviously the big stuff is about exhibitions. It's about events. It's about bringing brands to life in a retail environment. It's about selling more. Ultimately, everything in brand activations is about bringing a brand or an event to life that then will actually generate more product sales. Our ambition here is lofty. We want to grow this business by another AUD 80 million. How are we going to do that? We've got a great customer base already. We've got a beautiful mix of big brands, medium-sized brands, and the retailers. You'll see the mix there. Going to a Woolworths, nearly all of their internal signage, including something that we worked with them on about five years ago, where you can slide in and out signage, particularly over the freezers and the cold storage, is IVE. Again, made by us, could be made in Victoria, could be made here in New South Wales, and certainly distributed by us. Myer, to give you a feel, if anyone knows the Myer store in Victoria, we do their Santaland. That is also including a train that is about half the size of this room that we make. For us, it is about selling in more of the product that we make in-house. It is about more customers. For us, it is all about more fit-outs. It is about expanding our events using the AO example. We want to get into more sports, more sports marketing, and certainly larger events such as concerts and the like. The little brother of Country Road is on the left here. The one you're seeing in this photo won a whole range of awards, but also we had fantastic feedback in terms of what this did in store. The big pink bags, and again, I'll use the old language because I'm old, it's about 8 ft high and about 12 ft long. That one there weighs about 80 kg. That's fabric covered in terms of ply. In terms of Country Road, this is to celebrate their 50th anniversary. They wanted something different. They wanted something to celebrate road trips. Most people know the duffel bags, fairly iconic. We built this for them. We built this in our Braeside facility where we've got all of this equipment. From the lead visual merchandiser, the space created has been a huge success, driving increased foot traffic and boosting sales dramatically. The eye-catching design featuring the iconic heritage tote bag has attracted shoppers and encouraged much more store engagement. When I talk about bringing brands to life, that's an example of what we're talking about. Finally, we know we had the F1 here earlier in the year. We worked with Lion, and we came up with what is, well, three concepts here, but the main one is sound activated. This went through a whole range of independent liquor stores as well as some of the big ones. On the left-hand side there, if you walk through that, you'll get blasted with the sound of F1 racing cars. It's got sound activation, obviously stacked on either side is the beer that they want to sell. That shop shot in the middle top is actually a near-scale F1 car that was produced in our Granville factory, and it's all made out of cardboard. Again, designed to bring product to life, have it standing, and having it noticed so that we sell more of it. That for us is what I would call Brand Activations. We're doing questions at the end, I take it? Super. Thank you for your time. That's my three. I'll now hand over to Rob Draper, who is the CEO of our eCommerce division. Thanks, Cliff. My name's Rob Draper. I joined IVE Group in 2019 from WPP, where I was at for almost a decade in various different roles. I began as Managing Director of Barrows Asia Pacific, was my first role at WPP. We established that agency for WPP in Singapore, Shanghai, Beijing. I came back in 2015 to Sydney with WPP as CEO of the store and Managing Director of Geometry Global, which was the largest shopper marketing agency in the world and Australia at the time. I completed an Executive MBA at University of Sydney during that time and then moved into the group executive leadership team at WPP before joining IVE in 2019. Today I am the CEO of eCommerce for IVE. eCommerce and Lasoo. Lasoo is a unique high-growth e-commerce platform. Our 2030 ambition for this business is to reach AUD 150 million in gross transaction value profitably with a break-even target during FY 2028. Our key focus areas in order to achieve this are to continue strengthening our customer acquisition channels and diversifying and broadening these. We are focused on optimizing our customer experience, increasing our conversion rates, average order value, and CLV, customer lifetime value on the platform, which we believe we have more room to do. We are focused on using AI wherever possible to improve operational scalability. We have already incorporated AI into Lasoo in several areas, such as fraud protection, marketing feed optimization, and customer personalization. Our last focus is focusing on achieving profitability for this business into FY 2028 to break even during FY 2028 and beyond. FY 2025 for Lasoo has been a very positive year with a similar investment to last year, FY 2024. We are on track to increase sales, or GTV, of the platform by 75% year on year. We are not significantly increasing our investment in the platform to achieve this growth. We have achieved a 75% year-on-year growth on a similar investment to FY 2024. This has been driven by strong momentum in unique users. Our unique users on the platform have grown by about 30% from 2024 into FY 2025. That puts us at about 3.6 million unique users who have used Lasoo in the last 12 months or just under 20% of the Australian population aged 18 or above. We believe that this number and market penetration will continue into FY 2026 and beyond. On the other side of the platform, we have had strong momentum in retailer growth as well. In this particular metric, we saw a significant uptick, positive uptick after Catch announced their closure at the end of January. A lot of their retailers set up meetings with us, and we've had very positive momentum there. Some have already gone live, like Hobbyc o, and others are continuing to go live over the next few months as they complete their integrations. Our retailers on the platform will grow by around 40% year on year, up to 300 retailers live on Lasoo by the end of June this year. What we have seen is the 30% uplift in unique users combined with the 40% increase year on year of retailers on the platform have delivered an outsized growth in GTV of the 75% year on year I mentioned before. Our GTV number in FY 2025 has also been driven by rapidly growing repeat customer sales. Our repeat customer sales in FY 2025 have grown by about twice as fast as the total sales on the platform, around 150% year on year in FY 2025 versus FY 2024. One of the reasons for that is the strong customer review scores that we have. We have a 4.4-star rating on Trustpilot, which is excellent. It is the highest rating you can get. I think when you compare that with comparable peers in the market that have as broad a range of products as Lasoo has on the platform, you'll see it is about the highest in the market that we can find anyway. Lasoo has a 4.5-star rating on the Apple App Store, 4.9 on Google Trust Score. Google's got two ratings, customer reviews, just to be a little bit more complicated. They have a store rating where Lasoo is 4.6, making it a top-quality score. Again, the highest rating you can get on Google as well. Today, Lasoo has just over a quarter of a million SKUs live and available to purchase on the platform. We actually have over 500,000 SKUs in our backend, but only surface the best deals to our customers. Therefore, we have 250,000 SKUs live as of June 25 on offer to customers. All in all, a positive year for FY 2025. Lasoo does not run a traditional e-commerce model. We operate a low-risk, capital-light, and highly scalable dropship model. What we mean by this is customers will come to Lasoo to browse and purchase products, and they will buy those products on Lasoo. That order information is then sent to one of our 300 third-party retailers who have contracted, integrated, and are now live on Lasoo. Those retailers are responsible for buying the inventory, taking all the risk on that inventory, warehousing the inventory, and shipping that inventory to customers when they receive the order information. We have very strict SLAs with each and every one of the 300 retailers who are contracted on Lasoo to deliver that in a timely manner. Lasoo also fills in the gaps with offering customers customer communication, customer support, and live shipment tracking so they can see where their products are at any time. As you will see in this ecosystem, in this model, Lasoo does not actually touch inventory at any point in the process. This makes it a highly attractive business model. There is no inventory risk. There's no risk with long rental agreements on large warehousing deals. There's no risk on shipping the products. In fact, there's no exposure to risks and capital costs associated with traditional e-commerce retail models whatsoever. This makes Lasoo agile, easy to pivot, highly scalable, capital-light, and low-risk. It also helps provide a compelling retailer and consumer value proposition, as is evident by the growth year on year in FY 2025 over FY 2024 on these metrics. In addition to this, Lasoo has a deeply diversified product ecosystem and demography. This allows Lasoo to capitalize on seasonal trends and diversify revenue volatility. For instance, in May, furniture was the largest selling category on Lasoo, followed by home and appliances, health and beauty, alcohol, hardware, pets, electronics, sports and outdoors, toys and games, and then all the rest of the categories. This is a point in time. This is the orders in May. This will vary throughout the year depending on the season. In December, for instance, there'll be more toys, electronics, sports and outdoors sold, health and beauty as well, fragrances, which are selling very well on the platform, is a large gifting category. Those categories will be updated, and then some of the other categories like hardware and home and appliances will be downweighted slightly at that point of the year. Because of Lasoo's diverse product mix, regardless of the seasonality, we reduce this volatility risk, and the revenue and GTV on the platform is relatively stable throughout the year as a result. Looking into FY 2030, FY 2024, and we're on the cusp of closing out FY 2025 as guided back in February at our half-year results. As such, Lasoo remains on track to break even during FY 2028 and grow GTV to AUD 150 million by FY 2030. This would drop an EBITDA of around 4.5 and an NPAT of just over three to the bottom line at that point. We believe this will add material value to the IVE Group in a sector that has strong growth tailwinds, and this will help further diversify and future-proof IVE in this strong growth sector moving forwards. Thank you. I'd like to introduce Sean Smith, the CEO of CX & Data. Thanks, Rob. My name's Sean Smith. I'm the CEO of the CX & Data division at IVE Group. A little bit about myself. I joined this group about five years ago at the beginning of 2020. I came from a company called Isentia, where I spent many years as an executive there in the chief executive role, leading large teams across both Australia and New Zealand, but also the Asia-Pacific business. What we did there was we built media intelligence solutions and had large software development teams. For me, really, really interesting business to join the CX & Data division. While I have previous experience in the marketing communications channel, this was a very different angle to play in. The CX & Data division has a high specialization in one-to-one communications, or what's more commonly coined as personalized communications. I'll talk a little bit more about how we do that as we progress through the presentation. Starting with my 2030 ambition for our business, if I think about who is the key customer that we serve, it's the CMO. If I think about the CMO and the very important role that they play in a business engaging their brand's customers, either through building loyalty, their full life cycle, marketing efforts, acquiring new customers, they have a huge challenge in the road to 2030. That is where a business like the CX & Data division can play a very, very strong role. While we meet our CMO as a key partner, and we do that through tech, data, and helping them run their campaigns, this next period of time will face both disruption and opportunity that is introduced by different technologies, in particular AI. Our ambition for our business is to keep our business growing and keep us relevant with the CMO in making sure that they have best-in-class marketing communication programs for their customers. We want to keep them at the forefront of their industries and at the forefront of the customers that they engage with. How do we do it? The CX & Data division, in some ways, is very different to some of the other business units that you've heard from today. Our machines are our people. We have a workforce of nearly 400 people. That workforce comprises of different roles and different job titles that you don't see in those other divisions. For example, we have technical architects. We meet our clients with solutions consultants. We have large development teams. We have BAs, big project management teams. We put an overarching account management structure around those client relationships. Core to our business is professional services. A big part of our revenue comes from professional services, whether that's providing advisory services or implementations or ongoing support in what we do for our clients. Our clients, like the rest of the IVE Group, are at the center of what we do. My division that I run, we have very long-standing client relationships in place. A lot of those relationships are enterprise-wide, and we're trusted by our clients in all areas of their marketing communications effort, whether it's essential communications, building loyalty, or the client acquisition mode. As you can see up on the board there today, we work with large brands. Large brands, traditionally, or not traditionally, a brand where they've got a large B2C business, that's fertile ground for us. We love working with brands that have high exposure, lots of touchpoints, and lots of customers. What do we do? We play in that enterprise marketing space for our clients, and we want to keep growing those services as we go into the future. What we do now is have three key pillars around our service offering. One is around our data and insight services. If you think about all the customer data that an organization holds, sometimes, if they're lucky, they have a single customer view. Most of the time, those customer views are very, very fragmented across products, across different divisions, and across different systems. What we will do around our data services is help our clients get a better view of their customer, help our clients understand who is the customer that they're serving. We'll help with the different personalization points around that so that they can drive more effective communications or marketing activity. The second key part of what we do is around Martech services. All large organizations will use a Salesforce or an Adobe or a suite of other different services around their marketing technology. These technologies are complex. They're hard to understand. They're hard to drive. They can be hard to resource. They can be very, very difficult to make sure that you're unlocking the full feature set or value from that platform. That's where an organization like IVE Group comes into play. We'll work with those large brands to make sure that they've got the right marketing technology to enable their marketing programs. We've got the data, and we've got the tech. The next step in the process is around the campaign management and how we help them manage those campaign, our customer journeys, and make sure that those campaigns are executed in real time against the compliance requirements that they need, but also with all the points of personalization so that, I guess, we're helping our clients have the best possible connection with their customers. Those are the three pillars. The points of difference that this creates for us in our marketplace are huge. We've got a number of different points of difference. As a business, we have deep relationships with our clients. We often play across not just a CMO, but we're wound in with a CTO, a CISO role, someone that leads the customer effort. There are multiple touchpoints that will work across an organization, but the CMO generally being the key touchpoint that we have. We have deep expertise in certain sectors: financial services, utilities, not-for-profits, to name a few, insurance companies. Like I said before, anywhere where there is a large B2C audience, and we'll still do B2B, we love large B2C audiences inside the brands that we play with. We often act as a digital transformation partner for our clients. If you think of household brands like a Transurban that I had on the previous screen, those businesses have had to go through massive digital transformations over the years, from collecting cash at a toll to having automation and workflows, where all their billing communications and all their activity that sits in the background and workflows around that needed to go on that same transformation journey for that to be enabled. That is where an organization like IVE can come into play because we'll work with their Salesforce technologies. We'll work with the technologies that their call centers need around different communication portals, etc. As a business, we're platform agnostic. Another really key important part of our offering. We don't go into our clients selling what our technology partners want to be sold. For example, many agencies will be single platform, so they'll just sell a Salesforce solution. That's not us. We go into our clients to understand, well, what is their problem? What is it they want to achieve? Then we'll match them with the best technology, the technology that's going to help them unlock their marketing campaigns. By the nature of what we do, as I covered off before, we deal with many financial services institutions. There's lots of APRA regulations. There's lots of compliance that we must meet. It's another hurdle that we clear in being a valid player for our clients. It creates more trust in our brand when we carry certifications like SOC 2 Type 2, or the different ISO certs that those clients or those large brands, they know that they can trust us for their essential communications effort. The last piece is we're omnichannel. We're not just to the home through the letterbox, and we're not just email or SMS. We can play across all those different communicational marketing touchpoints that sit inside an organization today. If you think of your relationship with the bank, it's an app. It's in store. It's a letter to your home. It's email. It's SMS. It can be online portals if you're going through a journey to acquire a home loan. We will play a role across all those different environments for our clients. What I'd like to do now is actually talk to you about a case study that we've got in our business. I love Cliff when he gets up before me because he makes my case studies really, really challenging. He's got lots of pictures, lots of images, lots to show. Due to the nature of what I deal in and the sensitive nature of personalization, we can't actually disclose the brand on this one. I will share some details about who they look like. They are a major financial institution. They would be known to most households in Australia. In fact, they've got 2 million customers across loans and credit cards across Australia. Now, why I'm sharing this case study in particular is why it's specific to a certain organization. It's very, very generic in the sense of a number of the challenges that we see across many of our clients were quite relevant to this client. This client called IVE Group in. We had no previous relationship with them. In fact, it came through our agency relationship with Salesforce, where they recommended us as a good partner. When we came in and talked to this client, they had limited capability. I guess going back to that earlier point I raised around the CMO, the CMO was in an arms race around technology. They've got finite budgets to work with internally, and sometimes their in-house capabilities can be quite limited because of that. It can be difficult for them to drive innovation. It can be difficult for them to unlock the full value of the technologies that they're using. Eventually, they lose pace with their competition. The campaign management environments that financial institutions run are huge. They're extensive, and they're across millions, millions of customers. They have challenges in delivering that in real time. They have challenges in meeting the high-volume nature of what those communications look like, both across essential and marketing activity and other programs like loyalty. Sometimes, just by the nature of what they do, their processes aren't nimble. Another key point for us, we're an agency model. We find a nimble, an effective way to automate and make sure that we can deliver in real-time environments. These big organizations, their innovation will get stifled. It will get stifled because of the nature of the way they work, but also they lack the expertise that sits inside these different platforms and sometimes where these platforms are headed. Our solution, taking a step back from those four points that you see on there, the first thing we go in and do is we talk to the client. We understand their key requirements. We do a discovery on what's working, what's not, and then we'll come back to them with some recommendations and advisory on what we feel are the right next steps. Each advisory piece that we do for a client, it's not a cookie-cutter approach. We will look at that client, their technology, and make sure we've got an agnostic and right approach for that business. In this case, for this major financial institution, we could see that the way that they were running those in-house teams wasn't the right answer. We proposed to them that whether it was IVE or another one, but clearly, we promoted ourselves, that we embed an expert team inside their business. Again, it's very, very common for us to have our smart people embedded inside a marketing team. Our marketing team becomes an extension of their team. In major brands like Westpac, our people have been so, or CommBank, they've been so embedded inside those organizations, they've won employee awards, to give you an idea of the traction that we create. The second part of our strategy was to automate and personalize. We looked at their workflows. We looked at parts of the, I guess, features like Journey Builder that hadn't unlocked the right way in Salesforce, and we looked at more efficient ways to use those technologies, creating opportunities to automate different workflows and create real changes in their ability to have speed to market for changes. We looked at their omnichannel strategy. A classic example of an organization that had all the channels but didn't have all the connections. As you would know, you could go to a website and get a very different experience from what you're receiving on your email or the products or services that you deliver. What we try and do in our omnichannel strategy with our clients is make sure that every time one of their clients engages with any of their channels, they feel like they're understood. If you're looking for a credit card, you don't go to the front page and find a home loan. The last piece was around their technology roadmap, making sure that we've got the right technology roadmap in place for that client, and in particular around the personalization piece. Matt spoke about one of the key trends of hyper-personalization, which is a key feature of all our discussions and all our roadmapping for our key clients. This client, we're still servicing. We've got a multi-year deal in place. The benefits that we've delivered in a very short time, around 12 months, have been huge. We've done it by making sure that we've got what we class as a best-in-industry marketing team. You can see a lot of those key points there, and I'll probably try and bring it to life. If I think about their different customer touchpoints, they've got email and SMS. We now drive those programs. More importantly, it doesn't matter what domain a client is engaging or they're engaging with their clients, whether it's a website, a loan portal, a credit card portal, their service center apps, their money apps. They've got a single unified view of that customer, a 360-degree view of those different domains. On their website, by adding Salesforce personalization to their website, what they've achieved out of that in a very short time is a 12% increase in returning customers to their website because their website shows to those customers that their website understands what they're looking for. We put them on a journey that is relevant for that client. To use the very, very bland example, if they're looking for a credit card, we make sure that they don't come onto the website and find a home loan. We've built personalization inside their loan portals and their credit card portals. In their loan portal, what we've seen as direct results of that is a boost in their application processes. Also, because we've made more relevant, personalized experience where there's self-service and help as they step through those journeys, they've actually had an increase of 25% in engagement of their users. These users, as they're applying for loans, are staying in the process. They're not leaving and going somewhere else. They get an upkick in that process. The service center app is another area that we've built additional journeys and more personalization into. Some of those journeys are about best offers, but also some of that is about resolving some of their service complaints. Inside that service environment there, they've had a 10% increase in conversions, and they've had a 5% decrease in calls. All these stats are coming from a very, very short period of time. If I go across to their mobile money apps, this app is used for them to top up credit, that type of space, they've had a 7% increase in that activity happening inside the app. They've also increased their MPS. The key of what I'm talking to you about today, while we've delivered all those things that you see on the board, most importantly, we're seeing real and tangible results happening inside those environments that their clients are interacting with. Thank you for your time today. I'm now going to hand over to Mick, who is our CEO of the Creative Content & Integrated Solutions business. Thanks, Seanny. That was awesome. We're on the final stretch, folks. Just not long to go. Yeah, I'm Mick Bettridge. I'm the CEO of our Creative Content & Integrated Solutions business unit. I've been here for 2.5 years. First six months was as a consultant working with Matt, who used to be a competitor. He tailed me up so many times I decided to join the team. Prior to that, I worked for Wellcom for about 20 years, where I was the Managing Director for Asia and Global Business Development Officer. It was around creative and content, and I helped build, list, and eventually exit that business when we got acquired by INNOCEAN, which is a Korean advertising agency. Yeah, then I had about six months working on my handicap. I came over to Matt, and a lot of respect for the business, but the main thing for me that I saw was it's a beast. It's very diversified, but a lot of the content and the creative was supplied to IVE in terms of revenue on the ideation component. It was quite small. We had capabilities, but it was more primarily around design for the work that we were printing. Based on the way the world is moving and that we're in this omnichannel environment, the first six months was about building a plan on what a front end should look like to the business and how this can create additional value for shareholders, for employees, and for our customers. We've got about 32 major customers in our business unit. There's IAG and Telstra, Kia, L'Oreal. We've got obviously BP, CommBank, got Vodafone, we've got Green Cross, Petbarn, like big, large, dynamic businesses that have the same problem that nearly every brand does, is they need to connect with their customers wherever they are, whether they're at home or in store, etc. We've taken this category and extended it from an input to what we were traditionally producing to building a full-service creative agency offering. Our target for 2030 is an additional AUD 75 million in revenue. To me, because of the breadth and depth of this space, which incorporates traditional advertising and marketing services through to digital, through to events and activation or shopper marketing, it's a very large category. Our key focus since starting is really about not necessarily evolving what we have, but transforming it. Leading with strategy, getting the right talent, getting the right tools, which incorporates technology and automation and scalability, but it has to be relevant, obviously, to our services. As investors, diversification, big thing, very important. The problem is once you have too many, it's harder to manage. It's no different to our clients. There's two arms to our business. It's really about creative, solving business problems, coming up with ideas and strategies. The other part is how do I make it easy for our clients to tap into these services. Rather than these big brands having to bounce the left brain, right brain between Sean and I and speaking to an account manager and different divisions, we have a team that is focused on the solution delivery part. They're an awesome, eclectic mix of multi-talented people that know data, that know content, that know activations. It's an exciting little piece of business because it's relatively new, and I think it's got enormous potential. The bottom right corner, regardless of how we talk today, we're in marketing services. The game's always been the same. It's about trying to help brands connect with their customers. The big challenge they've got at the moment is they used to, when my first job was a paper boy, so I was selling The Sun and The Mirror, and I think there were seven, nine, and 10. You were still sticking up outdoor advertising, and you had 2GB or Today FM. It was like one drop a day of information. Today, there's over 60 different channels, which are owned or paid channels that brands use to connect with clients 24/7. It's always on. It's a big beast. It's very dynamic. We're obviously trying to make this easier for clients. By moving into this space, our purpose is exactly the same, we just want to help the brands make meaningful connections. As I said, in terms of the delivery side, we have a lot of dedicated teams, but they often incorporate a mix of our services depending on the nature. When Sean refers to Westpac, in the broader team there, I have skill sets from the CX & D ata arm, from our graphic design, from project management, strategic sourcing. Ideally, we manage large-scale contracts and just make it easy for them to hit all channels. The strategic and creative services and visual comms is what we've been building out. In terms of teams, we originally had designers and finished artists. We've got animators, illustrators, motion graphics, strategic strategy development, conceptual development. We can basically help a client deal with real business problems. The reason why we follow that's important is it helps us move upstream and get closer to the C-suite. We're now talking, rather than talking to, say, our procurement person, that's really about commoditizing a lot of our products. We're up in talking to brand managers and CMOs and trying to understand what they're trying to do, whether it's raise awareness, sell more product, or make better connections. Getting closer helps us identify problems. If our solution works, we create very meaningful relationships. It also helps us influence where they're going to spend their money. When they've got all of these channels now to serve, and they've got a limited budget, they've got to do it in a way that's really efficient. That's the whole goal of the strategy and the creative services, is to get close to the client and come up with valuable solutions and also build strong, meaningful relationships. The project management and delivery team is really about doing it the most efficient way possible, so faster, better, and cheaper. As Matt mentioned, there's a lot of buzzwords and acronyms across the industry of marketing, but ideally, it's about trying to connect with consumers, whether they're at home, whether they're on the go, whether it's a billboard, whether it's an email, whether it's a text, whether it's in store at the last mile or the point of purchase. Wherever the brand's customers are hiding, that's where we want to be. Not that they're hiding, but wherever they are, that's where we want to be. Just to give you some context, it's sort of like the influence of creativity. I've just got some case studies for you here. This one with GrainCorp. For the grain division of the business, they wanted to come up with a new logo. We were able to incorporate, obviously, the grain into the typography, which was well received, but the extension opportunity, you might think, "So what? It's a logo. It's a couple hundred bucks," which is not, a bit more than that, but its legs is what the value is here. From that, it goes into merch and apparel, into signage, into their websites. The ripple effect is quite awesome. Sorry. Sorry, Matt. There you go. We also do social media campaigns. This is where maybe, so this is for Reckitt, part of the Coca-Cola Enterprise, came up with a new drink. They weren't sure on how aggressive they were going to go in the launch. A lot of what brands do is they use the cost-effectiveness of social media. We're able to come up with this whole suite of campaigns, which is a little fun. It's on the vibe. In the middle is a lot of people, it's fake out of home, if you want to call it that. We created this vending machine. A lot of the people that were walking around are our staff. It's a fun, cost-effective way to drop that into Instagram, into Facebook. You can actually see the receptiveness of it, and then they can decide how much they're going to scale it up. We do that all in-house, from the creative and the content and the analytics. To some things are a little bit bigger, so we can work with clients saying like the Twinings, that are fantastic. Everybody has tea or Twinings and products, and they get it. But when they launch new brands, they admit that they were good at launching, but it sort of runs out of steam. Part of the business challenge we're trying to solve here is then how do you keep the activation running? There would be a typical ad that would run, but then there's actually major events and sampling where they might piggyback off things like the Easter show or sporting events. Once it gets a little bit momentum, it's like, "Okay, we're going to back this thing into store. We're going to put in a Coles and Woolworths. How do we bring this to life in situ in these environments? Obviously, when people like the product and as it goes through its phases, we want to set up the loyalty loop and introduce extensions of these products through to some other new content that we are doing. Podcasts, obviously, have taken over from radio. I love them every morning, every afternoon. I cannot remember the last time I listened to mainstream, but in terms, I will show you a couple of things just for diversity of what we are doing. We are doing, obviously, podcasts, but while we are there, because we have the capability to capture video, we also then film the whole interaction. Then the client, so Ladbrokes, then has these, what they refer to as snackable content, which they can put in through their socials or their websites that comes back into the brand. AI is a big buzz term for everybody as well. We've been using it for a couple of years now. There's a whole mixture of different technologies, but with this one, it was for an independent liquor retail group. One of their brands is Local Liquor. For the state of origin, we came up with a couple of characters, Cane and Roach, obviously, you know which one's which. We're able to use a combination of tools to create these little characters, and we did all the voiceovers and the animations, and it became a three-part series where they travel to Queensland, down to Melbourne, bits and pieces, and they just have a go at each other the whole time. A typical sort of post in pre our involvement in this was getting like 1,000-2,000 sort of views. We had over a million over the series. Some things do not always convert from a dollar at the end of the till, but some is about actually trying to bring out a brand. What they liked about it is they're cheeky little characters, and it's sort of like what they're trying to do with their brand themselves. The extension of this, because it was successful, obviously, goes into a full retail campaign. Typically, a few years back, we would receive the artwork files for the catalogs, and we would print them. Now we're coming up with the concepts, coming up with the characters. We're doing all the variations. That could be the digital screens, the in-store pods, the gift with purchases that come once it gets activated in store, local area marketing, mobile advertising, all the Insta. What we can do, we can do this super efficiently. From a brand, they're like, "Well, it's represented appropriately everywhere." The alternate model, as Matt said, in terms of our equal peers, normally what they would do is have to have different people do different parts, and that causes inconsistency and inefficiencies. When you think of Darryl's core business, all of our retail, we work with every retailer in the country. We're only just getting started here. We've picked up four retailers in the last six months that are loving where this is all going. I'll show you this one. We have a good relationship with Kia through Elastic, which is spearheading our creative arm. Tasman's a big one. You've probably all seen the press. It's going to get bigger. It's launching in a couple of days, a couple of weeks, something like that. In addition to that snackable content and that small stuff, I wanted to show you this is a big production. This was behind the scenes when they were doing the test of the Tasman. Kia, movement that inspires. We do the recce, we go and find the spot. We find the property. We're down near Mildura. We'll send the crew. We'll do the film work. We'll do all the post, all the color grading. They'll slice this up, and I went through all of their socials. Where it gives you the opportunity, a bit like what I was saying before, is the extension. Because we have that relationship and we've been producing that, and we know this product's coming out, it lets us take our other areas of expertise and bring it to the table. You know when you buy a car, there's merch, whether it could be a key ring, it's a jacket, or we came up with an exclusive range for them. Trying to match the positioning of the product in terms of making it a hard yucker, sort of Aussie-ish kit. That's probably the game beyond coming up with an idea. It's really about trying to solve a business problem, but then knowing the capabilities we've got across the group and lead with wherever our core relationship is, but bring additional services. It's cheaper for us to deliver because it all goes through the same account management, and it's better for our customers because they're not losing money in admin and additional administration labor. The more services we can bundle in a campaign, it works for both parties. This next example is for Daikin. We shot this in a studio. Daikin's a hard product to sell because it's air. What they would traditionally have done is they would have shot this in someone's home, and they would have done a winter version and a summer version. We used a virtual studio, which is traditionally used for sort of Marvel and big film sets, and we're bringing some new technology using high-end LED screens as well as gaming technology to create these different environments that look real. We shot over two days, and from that, we came up with 2,000 different assets that we're able to drop over 18 months. It's super efficient. Client loves it. They're just now in the routine. We've just shot our last one for them. Our most recent project, we've been working with a partner on this Qantas in-flight safety video. These are just some behind the scenes. If it works. Sorry. Anyway, that plane comes in. It's behind the scenes. The in-flight video is 30 million views a week. Every domestic and international flight, multi-languages, massive production. It's got a lot of kudos in industry to be engaged to do this and look after that brand. I mean, a lot of people in the room probably flying a lot, so hopefully enjoy this next one. Massive crew, nearly 100-odd people that have gone in there managing all the talent. We were there all through the night. The plane came in and out a few different times. It had to be used for practical purposes. The sort of blend of work we're just trying to show is it can be something really small and quick and clever for social, through to big broadcasts, through to docu-series, through to full retail campaigns. Two years become a long way. Matt's been awesome in backing us and investing and getting the right talent, and now we're looking to scale that up. I'll just hand back to Matt. Good stuff. Thanks, Mike, and thank you, team. I can't believe we've got that far through without a tech file, and then at the last minute, we did. Here we go, mate. There it is. User error, hey. This is a good example of a guy who operates on a Mac and a guy who operates on a PC, and this is a PC. This is behind-the-scenes shoot across LA, Mick and Sydney. Just in Sydney. Just in Sydney. For this component. More to come on that because it's still early days, but very much behind the scenes. The other piece just on the Local Liquor, Cane and Roach one is we've now this year had Blocker and Tellus step in to do the voiceovers for them. We've gone from an environment over the last couple of years where we've had CUB and Lion fighting to buy the rights to the branding and some of those campaigns that we've been doing to now some of the big well-known names in the state of origin stepping into the breach and really getting behind some of those campaigns too. I just wanted to quickly touch on the super site for you. We're at the tail end of today's session before we go to Q&A. We are building a super site in Western Sydney. This is in Kemps Creek. This is 42,000 m², about halfway through the build at the moment. It will be ready for us to occupy from early calendar 2026. It will see us leaving four existing sites in Western Sydney. This is about streamlining our operations, right-sizing our cost base, and creating a high-performance facility that will integrate multiple parts of our business that mirrors exactly what we did down in Victoria three years ago. We saw outstanding results from doing the Braeside facility in Victoria for some of you that may have already had a chance to go and visit that site. We will be exiting our Granville site, our Homebush site, one of our Silverwater buildings, our Warwick Farm building, and as Darryl said earlier, we'll be building a world-class folding carton packaging operation inside this. It will be awesome for our people. It will be more fit for purpose than our facilities are today. It will help us attract and retain more staff. It will increase the speed to market for customers. We will mitigate AUD 3 million in rental increases coming at us had we stayed where we were today. We do have some rent increase coming into the cost base as we turn into FY 2026. Many of you would know industrial rents in Sydney and in Melbourne have gone through the roof in recent years. As we come to the tail end of these leases, we're seeing a step up, but this helps us mitigate about AUD 3 million of that and will provide plenty of opportunity for great operating efficiencies as we go through it. We will keep you up to date with where we're at on that. I know we raised it in the half-year result, and we'll give you a further update when we release the full-year result. For me, key takeaways from today, and then I've got one video to play for you before we go to Q&A. Hopefully, your takeaway from today is that we're moving with strong momentum, we've upgraded our guidance, and we've got a clear division-level view of our growth plans moving forward. The strategic investments are focusing in on the capital-light opportunities in parts of the market, scalable platforms like Lasoo, Packaging, 3PL, and the creative and content space that Mick's just taken you through, as well as Sean's data space. Our integrated model is uniquely positioned for us to deliver omnichannel solutions at scale. We remain disciplined, as Darren has said, in and around what we do with capital deployment. We are focused on earnings growth, and we are committed to delivering long-term shareholder value for all of our shareholders. With that, I would say thank you for attending today. I'll play this video. We'll go to Q&A, and then for those in the room with us here in Sydney, you're welcome to stay and join us for a sandwich afterwards and meet more of the executive team. This video, hopefully, again, would give you a feel for. At IVE, we turn customer connection into brand growth. Brand experiences that meet people where they are. Content they want, offers they need. We build momentum. Visibility is just the start. Impact comes from being truly relevant. Connection isn't by chance. It's built into every moment. Small details, strong impressions. Driven by data. Personalized at every step. Creativity meets commerce. Discovery becomes action. Bold ideas. Big production. No compromise on craft. Live, loud, made to be shared. Wide reach, personal relevance, delivered in the moment that matters. Strategy, design, tech, logistics, all working as one. One partner, hundreds of experts, infinite possibilities. IVE, helping brands grow since 1921. Hopefully that wraps for you much of what you've heard from the team today into one case of value proposition that we take to market for our customers, and it's very much part of our vision and focus as we move forward over the next five years. We're happy to take any questions. Tony's got a microphone for anyone who wants one, or we've got one here, but you're welcome to yell them out, and Tony will just call out any that come through online as well at the same time. Chris. Hi Matt. The AUD 1.25 billion revenue target FY 2030, that's at an uplift of AUD 1.250 billion odd from here. How much of that do you think is via acquisition, and how much is organic? Yeah, so we're probably thinking of it as AUD 300 million uplift from where we're roughly going to finish FY 2025, Chris, excepting we've still got a month to close out. We obviously, in our mind, have got, as I said, a low single-digit percentage of decay in the print sector there, so it's probably more than the AUD 300 million in terms of the way we're looking at it over that five-year period. We haven't set a definitive sort of split in our mind, Chris, around organic or inorganic from an acquisition perspective and what the makeup of revenue would be there. Post the Ovato acquisition, we've really battened down the hatches. Outside of the JacPak acquisition, we've wanted to prove to our shareholders in the market that we could deliver all of the synergies and integrate those acquisitions accordingly, which we've done. We're delivering a strong FY 2025 result, and it's now time for the acquisition strategy to come back into play as part of our growing growth strategy moving forward, but not to be the only part of the growth strategy moving forward. Other than that, a lot of the revenue uplift targets you had in each division, it looks like we'd get you close to that mark. Yeah, that's right. Yeah. No, that's exactly the way that that's been built out, is that if you—that's right. That's exactly right. If you added some of that, if you added most of that together, you would roughly get to that AUD 1.25 billion-AUD 1.3 billion number. Absolutely. Some of those, there will be some inorganic or some acquisition-related activity happening in there. We go back to the packaging question that you might have had earlier. When I look at that phase two packaging step up from, well, I did not have packaging on as an acquisition growth opportunity, right? I definitely still see there being potential acquisition opportunities in the packaging sector, particularly when we think about that phase two component of the growth strategy. Last question. That revenue breakdown slide you had, it looks like print is about 50% now. It looks like print is going to be at about 40%. Somewhere in there, 40%-45%. I cannot remember the exact percentage, but your assessment on what it is currently is exactly right. Then, yeah, obviously, it will be a lower percentage, by 40.