Seek Limited · ASX:SEK
Seek — Shareholder Meeting (November 2008)
23 slides from Seek's shareholder meeting presentation, Nov 6, 2008
Slide 1: SEEK Limited Annual General Meeting
For personal use only SEEK Limited Annual General Meeting 6 November 2008
Slide 2: Agenda
Agenda For personal use only Ordinary Business 1. Joint Chief Executive officers update 2. Financial Reports 3. Remuneration Report 4. Election of Directors Special Business 1. Issue of Securities to Executive Directors – Mr Andrew Bassat & Mr Paul Bassat 2
Slide 3: Joint CEO update
Joint CEO update For personal use only Andrew Bassat & Paul Bassat 3
Slide 4: Consistent strategy and effective execution
Consistent strategy and effective execution… For personal use only Financial Performance Strong financial performance across all metrics Market Dynamics Migration from print to online continues to be key driver of organic growth Clear market leader in advertiser and job seeker metrics Focused Strate
Slide 5: Delivers strong FY08 Financial Results
…delivers strong FY08 Financial Results For personal use only $M Growth SEEK LTD (Reported) FY07 FY08 $ % Financial Results - Five Year Trend Revenue 157.0 210.2 53.2 34% © $210.2M EBITDA 80.3 109.8 29.5 37% © EBITDA Margin % 51% 52% - 1% © $157.0M Associates 2.0 2.7 0.7 35% © $109.8M $106.2M NPAT 5
Slide 6: Strong, conservatively geared balance sheet
Strong , conservatively geared balance sheet….. For personal use only • Commenced September 2008, supported equally by the 4 major Australian banks • $200m facility with two tranches: Loan facility – $100m with 2 year term – $100m with 3 year term • Financial ratios currently well exceed the two mai
Slide 7: Employment
For personal use only 7 Employment
Slide 8: Print to Online continues rapidly
For personal use only 8 Seasonally adjusted job ads. (Common Base 100 = Jan 2002) - 50 100 150 200 250 300 350 400 450 Jan-02 Mar-02 May-02 Jul-02 Sep-02 Nov-02 Print Jan-03 Source: ANZ Job Advertisements Series Mar-03 May-03 Jul-03 Online Sep-03 Nov-03 Jan-04 Mar-04 May-04 Jul-04 Sep-04 Nov-04 Jan-
Slide 9: Job seeker preferences for online at all time high
… and job seeker preferences for online is at an all time high… For personal use only Ways to look for a job Internet Newspaper Q: If you were looking for a job and could use only one way to find a job, in what way would you choose to look for a job? 52.0% 46.0% 45.7% 48.2% 42.4% 43.1% 42.6% 38.0% 3
Slide 10: Strong market leadership position in Australia & NZ
…as we maintain a strong market leadership position in Australia & NZ For personal use only Australia AU Online Share - Key Metrics Sep 2008 Market % of Top 3 Ads UBs TTOS 100% Reach UBs SEEK 59% 52% 77% 66% 75% MyCareer 18% 22% 12% 28% CareerOne 23% 25% 11% 32% 50% SEEK ADs UBs SEEK 25% SEEK @ Sep
Slide 11: Significant headroom remains as share of spend is in print
Significant headroom still remains as the share of spend is predominantly in print For personal use only Online vs. Print (%) Job-Ad Volume Job Seeker Preferences Share of Spend Online 79% 67% 29% Print 21% 33% 71% Note: Job seeker preferences considers online and print methods of finding a job only
Slide 12: Focus on key employment growth drivers remains consistent
Focus on key employment growth drivers remains consistent For personal use only Drivers of future growth Volume Continue to pursue SME & ESM markets © © Migration from print to online expected to continue Yield © Changing customer mix, with SME comprising a larger proportion of the overall volume Yi
Slide 13: Learning - Training & Education
Learning - Training & Education For personal use only 13
Slide 14: SEEK has a diverse presence in education and training
SEEK has a diverse presence in education and training For personal use only THINK - Post secondary private education provider Investee (Think courses being added to SKL as appropriate) Providers DWT Domestic Students Sales & Marketing agent for Leading providers including: education & training Open
Slide 15: Education assets have achieved strong financial performance
Our education assets have achieved strong financial performance For personal use only $M's Growth SEEK Learning + Associates FY07 FY08 $'s % Revenue 59.9 99.6 39.7 66% © Learning Financials (FY05-FY08) EBITDA 12.3 18.9 6.5 53% © $99.6M NPAT 6.9 9.9 3.0 43% © Note: 1 - Associate Results Incorporated
Slide 16: SEEK Learning, IDP and THINK progressing well
Each of SEEK Learning / IDP & THINK are progressing well For personal use only • Best & first place to go for • Education investment company career related training & • IDP continues to perform well focused on growth & development education ahead of expectations of high quality education enterprise
Slide 17: International
For personal use only 17 International
Slide 18: Our international footprint is expanding
Our international footprint is expanding For personal use only Zhaopin • Online employment market in China is currently estimated to be $165M AUD, and forecast to reach $400M AUD by 2011 • Significant growth in job seeker metrics, now on par with market leader • Substantial increase in sales footpri
Slide 19: Investment in SE Asia: JobStreet
Our strategic focus on international expansion has reached a major milestone through our investment in SE Asia … For personal use only Who is JobStreet? • One of two leading job board players in SE Asia (with competitor JobsDB) • Listed in Malaysia with 52% of stock held by management and associates
Slide 20: Investment in Brazil: Brasil Online
…and also our investment in Brazil For personal use only What is Brasil Online? • Owner of Catho and Manager – the #1 and #2 online employment websites in Brazil • A senior management team with long-term experience in the Brazilian online employment market • Owner of the leading brands in Brazil, wi
Slide 21: Outlook FY09
Outlook FY09 For personal use only ¨ Migration of employment advertising from print to online expected to continue, and potentially accelerate Q1 FY09 performance in line with expectations ¨ Trading conditions in employment business have weakened in the past 6 weeks ¨ SEEK Learning performing well ¨
Slide 22: In conclusion
In conclusion… For personal use only Our focus on key drivers of growth remains consistent… EMPLOYMENT LEARNING INTERNATIONAL Volume SEEK Learning China Yield IDP Brazil New Products Think South East Asia Delivering strong financial performance 22
Slide 23: For personal use only
For personal use only 23