Slide 1: SEEK Limited FY14 Results Presentation
seek SEEK LIMITED -FY14 RESULTS “PRESENTATION 12 MONTHS TO 30 JUNE 2014 Na FOr perso
Slide 2: Disclaimer
Disclaimer The material in this presentation has been prepared by SEEK Limited ABN 46 080 075 314 ("SEEK") and is general background information about SEEK’s activities current as at the date of this presentation. The information is given in summary form and does not purport to be complete. In parti
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Slide 5: SEEK's purpose and global reach
SEEK’s purpose is to help people live more fulfilling and productive working lives and help organisations succeed SEEK Domestic SEEK International SEEK Education 30 MILLION : 325 MILLION : 55,000 Monthly Visits iE Monthly Visits : ? Students helped to find : 5 ot : + courses (per annum) Leese eeeeee
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Slide 8: Long-term strategic focus has led to strong track record of growth
SEEK’s long-term strategic focus has led to a strong track record of growth... “Look-through”’ Revenue grasa “Look-through”' EBITDA 42004 FYO4 - FY14 CAGR of 34% “™m FYO4 - FY14 CAGR of 50% ™ $632.0m, $252.1 Mg 79 om $570.5m $240.8m $228.5m $177.6m (6a $488.61 m, $148.9m $384.8m$136.2m $355.3m $292.
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Slide 10: Financial Performance
FINANCIAL _ PERFORMANCE For per
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40% For personal use only • 35% • 30% 25% • 22% • 20% • 15% • 10% 5% 3% 1% 1% 0% • Professional Online classifieds 1 Aggregators SEEK 3 • networks (LinkedIn) (incl Gumtree) (Indeed) • • • • 17
Slide 18: SEEK Domestic's core drivers of future earnings growth
SEEK Domestic’s core drivers of future earnings growth H Structural migration of print to online SEEK to capture volume & revenue opportunities from the continued structural migration from print to online SEEK’s core drivers of earnings growth Improvement in the economic cycle Expect SEEK to be a st
Slide 19: Market leadership positions SEEK as beneficiary of structural migration
SEEK’s market leadership positions it as a strong beneficiary of continued structural migration Online is the clear leader in job ad volumes and Structural migration of revenue from print to online user preferences is a continuing trend Job Ad Jobseeker Share of Volume! Preferences” Spend? 00 woe Ju
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For personal use only SEEK New Job Index 15% Revenue 30% EBITDA 43% • • • • • • •
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Slide 23: Vision: Be the global leader in online employment
Vision: Be the global leader in online employment, matching more people with job opportunities than any other organisation SEEK INTERNATIONAL Eig (68.3%) zha CJOL.com B An <& > lia. China Brazil 51 %, j : ‘TanGeST Jon arTE I OMNOLADEEH % Bangladesh (25%) nal use onlly @ *) ‘occMundial Mexico (56.4%)
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For personal use only • • • • • • 46.5 46.5 47.5 45.1 43.2 41.4 41.5 • 36.2 36.0 37.9 36.4 • 33.6 34.0 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14
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Slide 41: Appendices
APPENDICES SEEK Group “sj SEEK Domestic _: SEEK International @ SEEK Education e SEEK Volunteer © Overview of Non-IFRS Info page 42 page 59 page 62 page 74 page 79 page 81
Slide 42: Appendix: SEEK Group
& seek SS “APPENDIX SEEK GROUP =) ‘© (<
Slide 43: Reported Results by Division
Reported Results by Division Reported Results by Operating Division Results by Associate & JV: Seek Share of NPAT A$m Growth A$m Growth FY14—FY13 $m % FY14 FY13 $m % SEEK Domestic SEEK Domestic Operating Revenue 241.2 234.9 6.3 3% JobAdder (0.2) nla nla na EBITDA 143.9 141.6 23 2% SEEK International
Slide 44: Reported Result by Business Unit & Dividends
Reported Result by Business Unit & Dividends Reported Results by Business Unit 44 A$m Growth A$Sm Growth SEEK Domestic FY14 FY13 $m % SEEK International FY14 FY13 $m % Operating Revenue 241.2 234.9 6.3 3% JobsDB EBITDA 143.9 141.6 23 2% Operating Revenue 59.4 51.3 8.1 6% EBITDA (%) 60% 60% EBITDA 21
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Slide 47: SEEK Group: FY14 Segment Results
SEEK Group: FY14 Segment Results FY14 Segment Results ASm Reported Depreciation Amortisation SEEK Share Dilution of Non-operating Segment Amortisationof Interest Interest Profit Income NPAT Non- Reported EBITDA of Associates investmentsin gains& Other Result —share-based income expense! before tax (
Slide 48: SEEK is a diversified business with a track record of growth
SEEK is a diversified business with a track record of growth “Look-through”! Revenue & EBITDA by Operating Division Reported Revenue & EBITDA by Operating Division Revenue SEEK Domestic SEEK Education SEEK International SEEK Group EBITDA SEEK Domestic SEEK Education SEEK International? SEEK Group CA
Slide 49: SEEK Group: Continuing vs Discontinued operations
SEEK Group: Continuing vs Discontinued operations Continuing Operations & Discontinued Operation Key Insights FY14 - A$Sm Operating Revenue EBITDA EBITDA (%} Reported NPAT (Post NCI] NPAT excl significant items (Post NCI] EPS Basic EPS Reported [cents] Basic EPS excl significant items (cents) FY13 (
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Slide 52: Treasury rates & Policy
Treasury rates & Policy Weighted average interest rates (pre tax)- Borrowings Aspects of SEEK’s treasury policy Weighted Average interest rate % at 30 Jun-14 AUD denominated borrowings 4.8% USD denominated borrowings 2.4% RMB denominated borrowings 3.2% HKD denominated borrowings 4.6% Total Group bo
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For personal use only A#039;m • 16.0 14.0 • 12.0 • 10.0 • 8.0 6.0 4.0 • 2.0 0.0 FY13 Act FY14 Act FY15 Est FY16 Est FY17 Est FY18 Est JobsDB BOL OCC Zhaopin
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A#039;m A#039;m For personal use only 7.0 2.0 1.8 6.0 1.6 5.0 1.4 1.2 4.0 1.0 3.0 0.8 0.6 2.0 0.4 1.0 0.2 0.0 0.0 FY13 Act FY14 Act FY15 Est FY16 Est FY17 Est FY13 Act FY14 Act FY15 Est FY16 Est FY17 Est FY18 Est A#039;m A#039;m 2.0 7.0 1.8 6.0 1.6 1.4 5.0 1.2 4.0 1.0 0.8 3.0 0.6 2.0 0.4 1.0 0.2 0.0 0.0 FY13 Ac
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Slide 57: SEEK's detailed look-through P&L Analysis
SEEK’s detailed “look-through’” P&L Analysis “Look-through” Revenue & EBITDA (Non-IFRS Financial Information) asm Fvo, | FYO« Fvos | _Fy05 Fvos | _Fv06 Fvor | _Fv07 Fvos | _Fv08 Fvoy | _Fv09 Frio | _Fv10 rin | evi riz | viz Fria | Fvi ru | rv Underiying| SEEK Share| Underlying] SEEK Share| Underiyin
Slide 58: Detailed Reconciliation of FY14 Look-through to Reported Results
Detailed Reconciliation of FY14 “Look-through"™' to Reported Results Detailed reconciliation of FY14 “Look-through"! to Reported Results FY14 FY13 Ag$m Ag$m Revenue SEEK Share “Look-throug| 736.7 632.0 R - 5 IDP (128.4) (108.6) Swinburne Online (26.8) (11.7) Zhaopin n/a n/a Jobstreet (12.2) (11.9) O
Slide 59: Appendix: SEEK Domestic
& seek SS “APPENDICES SEEK DOMESTIC =) ‘© (<
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• • For personal use only • • • • - 'm 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 Jan-10 • Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14
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For personal use only • • 21,691 2.5 1.4 • 39,529 Total • Total Ads1 Visits2 23.6m 180,220 • 19.6 119,000 • • • • • Total Total 2.4 17,819 Ads 13,862 Visits2 2.8 31,681 5.2m
Slide 62: Appendix: SEEK International
© seek APPENDICES SEEK INTERNATIONAL =
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Slide 64: Zhaopin FY14 Earnings Release to SEEK Reported Results Reconciliation
Zhaopin FY14 Earnings Release (USGAAP) to SEEK Reported Results (IFRS) Reconciliation FY14 Zhaopin Reported Financials - USGAAP to IFRS Reconciliation Zhaopin Accounting Less: CJOL Zhaopin Consolidated} Classification Policy Contribution Underlying RMBm USGAAP Differences Differences 11 Months to Ma
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Slide 66: Zhaopin - Key Metrics
Zhaopin - Key Metrics FY14 Average Daily Unique Visitors (m) FY14 Average Monthly Visits per User 2.2 10.2 2.0 5.6 0.6 1.5 Zhaopin Competitor A Competitor B Zhaopin Competitor A Competitor B Source: iResearch, based on average daily unique visitors each month in FY14 Source: iResearch, based on aver
Slide 67: JobsDB - Detailed Financials & Key Metrics
JobsDB - Detailed Financials & Key Metrics P&L (JobsDB Group) Key insights The financials below include CJOL contribution for all periods. H2 FY14 includes 5 mth contribution from CJOL 2B unl ted FY13 H1FY13 H2FY13 FY14 H1FY14 H2FY14 JobsDB’s China business (CJOL) was sold to Zhaopin + Purchase cons
Slide 68: Brasil Online - Detailed Financials & Key Drivers
Brasil Online - Detailed Financials & Key Drivers P&L BRL m - at 100% of Brasil Online unless otherwise indicated FY13 FY14 H1FY13 H2FY13 H1FY14 H2FY14 Net Revenue 108.9 120.6 116.2 133.4 Total Overheads [incl. COGS) 82.7 83.8 77.7 89.5 SEEK Consolidated EBITDA 26.2 36.8 38.6 43.9 EBITDA % 24% 30% 3
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For personal use only • 120,000 • 100,000 • 80,000 60,000 • 40,000 • 20,000 - •
Slide 70: OCC - Key Competitor Metrics
OCC-Key Competitor Metrics’ Monthly Page Views? (‘000) Paid Job Ads ('000) 70,000 79,000 60,000 57,720 60,873 60,291 60,000 | 54.911 50,000 50,000 40,000 34,500 37,133 _ 40,618 30,000 | 9 54g 30,000 ams 16,333 : 7.000 11,400 11,942 20,000 H 1,872 13,400 6,368 ‘ ; 1,079 10,000 ’ 8,855 : 4,331 1 a7g 2
Slide 71: Reconciliation of SEEK's International associates' EBITDA to SEEK share of profits
Reconciliation of SEEK’s International associates’ EBITDA to SEEK share of profits JobStreet OAM FY14 FY13 FY14 FY13 ‘A; Underlying MYRm at 100% MYRm MYRm A. Underlying ZARm at 100% ZARm ZARm EBITDA’ 60.9 49.7 EBITDA (62.2) Tak & other (14.8) (3.6) Tax & other 22.6 NPAT! 46.1 46.2 NPAT (39.5) SEEK N
Slide 72: Reconciliation of SEEK's International Subsidiaries EBITDA to NPAT
Reconciliation of SEEK’s International Subsidiaries EBITDA to NPAT Zhaopin JobsDB A. Underlying RMBm at 100% EBITDA D&A PPA amortisation Net interest Sharé-based payments & other expense Income tax NPAT FX gain on Pref share revaluation! Less consolidation period (19 Feb - 30 June 2013) Adjusted NPA
Slide 73: Reconciliation of SEEK's International Subsidiaries EBITDA to NPAT
Reconciliation of SEEK’s International Subsidiaries EBITDA to NPAT Brasil occ ‘A. Underlying BRLm at 100% EBITDA D&A PPA amortisation Net interest Share-based payments & other expense ‘Adjustments to acquisition tax provision’ Income tax NPAT NCI @ 49% NPAT (Post NCI) -BRLm Converted into AUD @ NPAT
Slide 74: Appendix: SEEK Education
& seek SS “APPENDICES SEEK EDUCATION =) ‘© (<
Slide 75: SEEK Learning - Detailed Financials & Key Drivers
SEEK Learning - Detailed Financials & Key Drivers P&L Key Drivers A$m FY13 FY14 FY13 FY14 Revenue H1 FY13 H2FY13 H1FY14 H2FY14 H1 FY13 2 FY13 H1 FY14 H2 FY14 SEEK Learning AUS 24.2 33.5 33.1 51.6 Leads/enquiries (000) 180.5 196.8 168.6 208.6 . : ; . cp growth (% 4%) (13%) (7% 5% DWT 1.6 2.0 18 1.2 p
Slide 76: Completion of THINK divestment in FY14
Completion of THINK divestment in FY14 THINK Financials Key Insights A$m Growth FY14 FY13 A$m % Revenue 45.2 103.2 n/a n/a EBITDA 48 15.2 n/a n/a EBITDA (%] 11% 15% = THINK divestment occurred on 30-Nov-13 + FY14 results are for 5 months (Jul to Nov-13} only and not directly comparable to FY13 (full
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Slide 78: Reconciliation of SEEK's Education Associates' EBITDA to SEEK share of profits
Reconciliation of SEEK’s Education Associates’ EBITDA to SEEK share of profits IDP Swinburne Online FY14 FY13 FY14 FY13 A. Underlying A$m at 100% ASm A$m A. Underlying A$m at 100% ASm ASm EBITDA 45.8 37.7 EBITDA 19.5 5.1 D&A (6.9) (6.4) D&A (0.5) (0.2) Net Interest 1.2 0.7 Net Interest 0.6 0.3 Fax (
Slide 79: Appendix: SEEK Volunteer
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For personal use only Total Visits • 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 - • • • • •
Slide 81: Overview of Non-IFRS Info
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