Seek Limited · ASX:SEK
Seek — H1 FY2016 Earnings Presentation
46 slides from Seek's earnings presentation, Feb 25, 2016
Slide 1: SEEK Limited H1 16 Results Presentation
~ SEEK LIMITED _H1 16 RESULTS _ PRESENTATION ae @) oF S 6 MONTHS TO 31 DECEMBER 2015 LL
Slide 2: SEEK is having a global impact across employment & education
SEEK is having a global impact improving people’s lives across employment & education Our Purpose: To help people live more fulfilling and productive working lives and help organisations succeed SEEK Domestic SEEK International SEEK Education —e— —e—, —0— 35+ MILLION 340+ 30,000+ Monthly Visits ON S
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Slide 6: Investing in early stage businesses to drive next leg of earnings growth
...and investing in early stage businesses to drive next leg of earnings growth. Early Stage - Employment Early Stage - International Early Stage - Education Explanation Buy, invest or partner in new models to strengthen/expand online employment market place includes: Jora (aggregator) Partnered wit
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Slide 9: Financial results before significant items
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Slide 10: Underlying NPAT growth excluding early stage ventures
Excluding investment in Early Stage Ventures, underlying NPAT growth was 9% Underlying Financial Results Growth H1 16 H115 % Reported NPAT before abnormals 93.4 93.1 0% Add back Early Stage ventures 9.0 0.9 n/m Underlying NPAT 102.4 94.0 9% Less: Learning 5.1 12.3 (58%) Underlying NPAT excl Learning
Slide 11: Strong cash flows and strong balance sheet
SEEK generates strong cash flows & has a strong balance sheet... Strong growth in Op Cash Flow! H1 05 toH1 16 CAGR of 29% $60.6 $42.8m in H105 H106 H107 H108 H109 H110 H111 H112 H113 H114 H115 H116 11 ‘Based on SEEK’s cash flows from operating activities excluding interest, transaction costs, tax an
Slide 12: Continues to pay a growing stream of dividends
... and continues to pay a growing stream of dividends. Financial Results (per share metrics) Track record of Dividend Growth cents Growth Half Year Dividends (cents per share) O, EPS H116 H115.— cents % H1 09 toH1 16 CAGR of c25% Basic EPS 79.9 535 264 49% MYA na 19.0 14.0 10.0 8.3 6.8 5.2 45 H1 09
Slide 13: Domestic Employment
DOMESTIC » EMPLOYME a oa NI. sy ee aie Piet Pt eh Ro a ie: . ese . tere te ee 6 ORO Oe wren CLA ra settee + +. ae wees .* a ersonal tenes? saeeet * . . . . teeeeet FOr p aseng oa .
Slide 14: Record result achieved alongside investing for future growth
Record result achieved alongside investing for future growth SEEK Domestic Financials Explanation A$m Growth Strong revenue result validates re-investment H1 16 H1 15 % strategy Revenue 151.8 131.6 15% *Volume growth of c6% with strong results in SME EBITDA 88.6 75.0 18% and Corporate EBITDA (%] 58%
Slide 15: For personal use only
For personal use only 33% 32% 6.5% 3.1% 2.3% • Professional Online classifieds Aggregators Offline (incl word networks of mouth) • • 15
Slide 16: Domestically well positioned for robust growth
Domestically we remain well positioned for robust growth Our core drivers of earnings growth SEEK is well positioned to deliver significant earnings growth over the medium to long term ( Placement Strategy & adjacent products and ) services Significant opportunity to leverage SEEK’s market position
Slide 17: For personal use only
For personal use only Jul-12 Dec-15 CAGR • • (%) • Visits (m) 19.2 351+ 19% • Mobile Visits (m) 6.5 231 43% • Mobile Apps (m) 0.6 6.6 98% • SEEK profiles (m) 1.4 7.1 59% • Cloud based - 120k+ n/m Advertiser Centre (clients) • • • • • • • 17
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. »* “<¢ . a AY here ew *. Pi oeeete See,’ *s * *. e*,e828@@86, *s6 ad es? geet. Te 8e uw Ce ~— . * ses «a . . ** .* eo Me O75 6 96 er * ? @@ . * *. . *. eh Nr hi ® Pond oo 5 e 7.8, 0° gee Sots e Re. 4s.9.4.*2° o* . "2% eer eters *,** o.9 3° 7. ‘3 ae . . 8 eueeleny eo*s #@ @ 6 *** .. oe” oe? es ate
Slide 20: International ownership interests
For personal use only India (46.2%) China (62.6%) Mexico (98.2%) Hong Kong, Malaysia, Singapore, Thailand, Indonesia, Philippines & Vietnam (80.8%)1 Brazil (51%) Kenya, Nigeria, Bangladesh South Africa & (25%) Australia & New others (30%) Zealand (100%) • • • 1 SEEK also owns a 20.1% interest in Job
Slide 21: International delivered record financial results
International delivered record financial results Reported Financials (A$m) H1 16 Highlights Consolidated entities ' Growth Revenue H116 H115 % China 166.3 117.6 41% Asia 70.1 33.7 108% Brazil 46.5 60.0 (23%) Mexico 15.1 10.9 39% Total Revenue 298.0 222.2 34% EBITDA China 38.6 31.8 21% Asia 38.4 15.0
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Slide 31: Total NPAT and EBITDA
For personal use only • • • • • • Total NPAT (Post NCI) • Total EBITDA • • 31
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Slide 33: Guidance
For personal use only • • • Guidance statements above may vary due to macroeconomic shock(s) or volatility in sentiment in domestic and/or global markets (including exchange rates).
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Slide 35: Appendix
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Slide 36: Segment results for half-year ended 31 December 2015
For personal use only International Domestic Employment Education Total SEEK Brasil Int'l Early Early Asia Zhaopin Online OCC Other Total Core Stage Total Domestic Stage Total Half-year ended 31 December 2015 $m $m $m $m $m $m $m $m $m $m $m $m $m Revenue Sales revenue from external customers 70.1 1
Slide 37: Strong balance sheet and a diverse capital structure
Strong balance sheet and a diverse capital structure Net debt breakdown Key insights 31 Dec-15 a Cash & Net Strong group balance sheet DebtFacility Gross Cash ——Debt/ * Robust bal heet with ted net debt of A$62.5 Limit Debt! ash le obust balance sheet with reported net debt o 5m Equiv. (Cash) * Exce
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Slide 39: Dividends received from international and education businesses
For personal use only A$'m • 9.0 8.0 7.0 • 6.0 5.0 • 4.0 3.0 • 2.0 1.0 0.0 H1 14 H2 14 H1 15 H2 15 H1 16 H2 16 H1 17 H2 17 H1 18 H2 18 Act Act Act Act Act Est Est Est Est Est JobsDB BOL OCC Zhaopin JobStreet
Slide 40: Strong base for future growth with exposure to over 4.0 billion people
Strong base for future growth with exposure to over 4.0 billion people and c28% of GDP For personal use only • • • • • • • • • 40
Slide 41: Zhaopin USGAAP to SEEK Reported IFRS Reconciliation
Zhaopin H1 16 Earnings Release (USGAAP) to SEEK Reported Results (IFRS) Reconciliation H1 16 Zhaopin Reported Financials - USGAAP to IFRS Reconciliation RMBm Zhaopin Classification — Accounting Zhaopin Total Revenue 758.6 3.5 fal n/a 762.1 Op. Income (USGAAP)/ 145.4 26.3, (bl 5.0 (cl 176.7 EBITDA (I
Slide 42: Zhaopin - Revenue Metrics
Zhaopin — Revenue Metrics Total Revenues (RMB $m) Unique Customers (‘000) I I wt I et He I 8 ie I mses 908.9 1,079.8 ; a J 821.5 ; wt | ! I I I . oe | FY12 FY13 FY14 FY15 Q2 15 Q2 16 FY12 FY13 FY14 FY15 Q2 15 Q2 16 Online Revenue (RMB $m) Average Revenue per Customer (RMB) nes ; 29% | 1,069.4 | 3,11
Slide 43: Zhaopin - Key Operating Metrics
Zhaopin —- Key Operating Metrics No. of Registered Users (m) - as of period end No. of Completed Resumes (m) - as of period end 1 net 5 fo 46.9% 41.\% 12.5% aM. in 008 | 109.7 Me a | 93.8 73.9 | 69.2 . ; e718 ; I : I I 41.3 I I I I I ! 1 I ! FY12 FY13 FY14 FY15 Q2 15 Q2 16 FY12 FY13 FY14 FY15 Q2 15
Slide 44: Brasil Online - Key Metrics
Brasil Online - Key Metrics Key Drivers Competitor data - Unique Visitors Jobseeker-pays New job ads Invoiced jobseekers Ernployer-pays Total CVs (m's] - at 31 Dec Invoiced employers 44 Month Dec-15 38,036 251,834 Dec-14 45,131 276,665 Month Dec-15 Dec-14 9.9 8.9 5,281 6,323 Growth % (16%) (9%) Grow
Slide 45: OCC market share
For personal use only OCC’s share as % of Top 3 Players, OCC has • 69% of Unique Browsers • 89% of Page Views • 74% of Paid Job Ads
Slide 46: Disclaimer
46 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 pa