Enero Group Limited · ASX:EGG
Enero — H1 FY2016 Earnings Presentation
15 slides from Enero's earnings presentation, Feb 10, 2016
Slide 1: Results for half year ended 31 December 2015
For personal use only ASX ANNOUNCEMENT 10 February 2016 Results for half year ended 31 December 2015 Enero Group Limited (ASX: EGG) today announced its results for the half year ended 31 December 2015. Summary: Net Revenue up 3% and Operating EBITDA up 57% on prior period. Improved Operating EBI
Slide 2: FY16 Half Year Results
For personal use only Enero Group Limited FY16 Half Year Results 10 February 2016 Enero Group Limited
Slide 3: Disclaimer
Disclaimer For personal use only This document has been prepared by Enero Group Limited (Enero) and comprises written materials/slides for a presentation concerning Enero. This is not a prospectus, disclosure document or offering document. This document is for information purposes only and does not
Slide 4: Financial summary
Group Financial Performance For personal use only Financial summary • Operating EBITDA up 57% on the prior reporting period. • Net revenue up 3% on the prior reporting period. • Operating EBITDA margin improvement from 8.2% to 12.6% generated from a more stable revenue base and appropriate cost cont
Slide 5: Revenue and Operating EBITDA
Group Financial Performance For personal use only Revenue and Operating EBITDA SIX MONTHS ENDED 31 DECEMBER ($M) 2015 2014 CHANGE NET REVENUE Operating Companies 57.6 56.2 2.5% Net Revenue 57.6 56.2 2.5% OPERATING EBITDA Operating Companies 10.7 8.3 28.9% Support office (3.0) (3.2) (6.3%) Share base
Slide 6: Results ratio analysis
Group Financial Performance For personal use only Results ratio analysis SIX MONTHS ENDED 31 DECEMBER ($M) 2015 2014 Net Revenue 57.6 56.2 • Staff costs ratio trending down to 69.2% and closing towards the benchmark targets. Staff costs 39.9 40.6 A $0.7m reduction in overall staff costs Staff costs
Slide 7: Revenue By Industry
Group Financial Performance For personal use only Revenue By Industry Telecommunications Property & 4% Construction 1% Energy, Oil & Mining 1% • Strong mix of clients across market industry Banking, Finance & Health Care 4% and sector groups demonstrates Insurance 6% Retailing 16% diversification of
Slide 8: Operating Performance: Geographical Contribution
Operating Performance For personal use only Geographical Contribution from operating companies Net Revenue Net Revenue 1H FY2016 1H FY2015 • Geographical contribution to revenue now more heavily weighted to UK 13% 11% Australasia and Europe. USA continues to be 40% UK and Europe undersized. 52% 37%
Slide 9: Operating Performance: Geographical Results
Operating Performance For personal use only Geographical Results from operating companies SIX MONTHS ENDED 31 DECEMBER CONSTANT • Currency impact: weaker 2015 2014 CHANGE CURRENCY ($M) CHANGE Australian dollar lifted reported net revenue by $4.3m and NET REVENUE Operating EBITDA $0.5m. Australasia 2
Slide 10: Operating Performance: Australasia
Operating Performance For personal use only Australasia CONSTANT SIX MONTHS ENDED 31 DECEMBER 2015 2014 CHANGE CURRENCY ($M) CHANGE Net Revenue 22.9 29.3 (21.8%) (21.8%) Operating EBITDA 3.3 4.4 (25.0%) (25.0%) Operating EBITDA margin 14.4% 15.0% (0.6bp) - Key highlights: • Revenue decline year on y
Slide 11: Operating Performance: UK and Europe
Operating Performance For personal use only UK and Europe CONSTANT SIX MONTHS ENDED 31 DECEMBER 2015 2014 CHANGE CURRENCY ($M) CHANGE Net Revenue 27.0 21.0 28.6% 13.1% Operating EBITDA 6.7 3.5 91.4% 63.9% Operating EBITDA margin 24.8% 16.7% 8.1bp - Key highlights: • Significant improvement in revenu
Slide 12: Operating Performance: USA
Operating Performance For personal use only USA CONSTANT SIX MONTHS ENDED 31 DECEMBER 2015 2014 CHANGE CURRENCY ($M) CHANGE Net Revenue 7.7 5.9 30.5% 6.0% Operating EBITDA 0.7 0.4 75.0% 59.8% Operating EBITDA margin 9.1% 6.8% 2.3bp - Key highlights: • Revenue improvement in all businesses (6% up yea
Slide 13: Profit & Loss Summary
Group Financial Performance For personal use only Profit & Loss Summary SIX MONTHS ENDED 31 DECEMBER ($M) 2015 2014 Net Revenue 57.6 56.2 Other revenue 0.1 0.1 Staff Costs (39.9) (40.6) Operating Expenses (10.6) (11.1) Operating EBITDA¹ 7.2 4.6 Operating EBITDA Margin 12.6% 8.2% Depreciation & Amort
Slide 14: Balance Sheet
Group Financial Performance For personal use only Balance Sheet ($M) 31 Dec 2015 30 Jun 2015 Cash 34.4 25.8 • Contingent deferred consideration liability (Tranche 3A&3B liabilities) of $33.4m not Net Working Capital (2.9) 0.5 recognised at 31 December 2015. Target Other Assets 2.0 2.5 EBITDA hurdles
Slide 15: Cash Flow & Working Capital Management
Group Financial Performance For personal use only Cash Flow & Working Capital Management YEAR ENDED 31 DECEMBER ($M) 2015 2014 • Cash conversion was in excess of Operating Operating EBITDA 7.2 4.6 EBITDA in 1HFY16. Conversion ratio expected to be lower in 2HFY16 given deficit Movement in Working Cap