Slide 1: ASX Announcement: Results for year ended 30 June 2013
For personal use only ASX ANNOUNCEMENT 21 August 2013 Results for year ended 30 June 2013 Enero Group Limited (ASX: EGG) today announced its results for the year ended 30 June 2013. Summary Further enhancements to the operating group approach and strengthening of executive team Group strategy on
Slide 2: Net loss after tax, pro forma performance and financial position
For personal use only Net Loss after tax: The net loss after tax to equity holders was $83.0m (FY12:$143.3m) and was driven by a review of the carrying value of Enero’s intangible assets and the subsequent non cash impairment charge of $75.9m (FY12: $133.4m). The prior reporting period also included
Slide 3: FY13 Full Year Results
For personal use only Enero Group Limited FY13 Full Year Results 21 August 2013 Enero Group Limited
Slide 4: Disclaimer
Disclaimer For personal use only This document has been prepared by Enero Group Limited (Enero) and comprises written materials/slides for a presentation concerning Enero. This is not a prospectus, disclosure document or offering document. This document is for information purposes only and does not
Slide 5: Agenda
For personal use only Topic Slide Executive Summary 4 Operational Update 8 Financials 12 PAGE 3 Enero Group Limited
Slide 6: Executive Summary
For personal use only Executive Summary PAGE 4 Enero Group Limited
Slide 7: Executive Summary: Operational
Executive Summary For personal use only Operational • Further enhancements to the operating group approach. • Collaboration across Group on new business and lead generation of sales. • Group recruitment and talent management – greater focus on our people. • Strengthening of executive team. • Continu
Slide 8: Executive Summary: Financial
Executive Summary cont’d For personal use only Financial • Net revenue down 15.5% on the prior reporting period on a pro forma continuing business basis. • Operating EBITDA down 74.8% on the prior reporting period on a pro forma continuing business basis. • 2H FY2013 consistent with 1H FY2013 on an
Slide 9: Revenue and Operating EBITDA
Executive Summary cont’d For personal use only Revenue and Operating EBITDA Pro forma results are adjusted for significant restructuring and divestments to allow for review of continuing business. Refer to Appendix on slides 17 and 18 for further details. YEAR ENDED 30 JUNE ($M) 2013 2012 CHANGE Net
Slide 10: Operational Update
For personal use only Operational Update PAGE 8 Enero Group Limited
Slide 11: Operating EBITDA down on prior year on a continuing basis
Operational Update For personal use only Operating EBITDA down on prior year performance on a continuing business basis • Operating conditions continue to impact revenue and margins across the Group. Client spending remains subdued and the shift towards project work over retained relationships conti
Slide 12: Operational Update: Group initiatives and agency updates
Operational Update cont’d For personal use only • Group learning and development program and group recruitment strategy initiatives rolled out in 2H FY 2013 which provides an efficient means of targeting and retaining talent. • Hotwire continues its successful international expansion with San Franci
Slide 13: Geographical Contribution from operating companies
Operational Update cont’d For personal use only Geographical Contribution from operating companies Pro forma Net Revenue Pro forma Net Revenue FY2013 FY2012 11% Australia, NZ 9% Australia, NZ and Asia and Asia UK and 30% UK and 30% Europe Europe 59% 61% North America North America Pro forma Operatin
Slide 14: Financials
For personal use only Financials PAGE 12 Enero Group Limited
Slide 15: Profit & Loss Summary
Financials For personal use only Profit & Loss Summary YEAR ENDED 30 JUNE ($M) 2013 2012 Net Revenue 127.3 225.2 Staff Costs (92.1) (166.5) Operating Expenses (31.6) (37.9) Operating EBITDA¹ 3.6 20.8 Operating EBITDA Margin 2.8% 9.2% Depreciation & Amortisation (4.9) (7.9) Net Interest (0.6) (4.6) P
Slide 16: Profit and Loss Summary continued: Significant items
Financials cont’d For personal use only Profit and Loss Summary con’t Significant items • A review of the carrying amount of intangible assets led to a non cash impairment charge of $75.9m being recognised. A weaker than expected performance during the first half drove this change. YEAR ENDED 30 JUN
Slide 17: Balance Sheet & Cash Flow
Financials cont’d For personal use only Balance Sheet & Cash Flow ($M) 2013 2012 YEAR ENDED 30 JUNE ($M) 2013 2012 Cash 19.4 21.5 Operating EBITDA 3.6 20.8 Net Working Capital 2.4 11.3 Movement in Working Capital 7.3 (0.4) Net Assets Held for Sale¹ - 7.8 Restructure costs paid (3.9) (10.4) Other Ass
Slide 18: Deferred Consideration Profile
Financials cont’d For personal use only Deferred Consideration Profile • Deferred consideration outstanding at 30 June 2013 of $100k. • Tranche 1 – $100k capped cash payments. • Tranche 2 – 20,833 shares remain in escrow conditions • Tranche 3A & 3B – EBITDA triggers adjusted for divestments to $54.
Slide 19: Appendix: Net Revenue & Operating EBITDA FY2013
Appendix For personal use only Net Revenue & Operating EBITDA DIVESTED CLOSED YEAR ENDED 30 JUNE 2013 ($M) 2013 TOTAL 2013 PRO FORMA COMPANIES BUSINESSES Operating Companies 125.6 - - 125.6 Unallocated¹ 1.7 (1.7) - - Total Net Revenue 127.3 (1.7) - 125.6 Operating Companies 10.9 - - 10.9 Unallocated
Slide 20: Appendix: Net Revenue & Operating EBITDA FY2012
Appendix For personal use only Net Revenue & Operating EBITDA DIVESTED CLOSED YEAR ENDED 30 JUNE 2012 ($M) 2012 TOTAL 2012 PRO FORMA COMPANIES BUSINESSES Operating Companies 148.6 - - 148.6 Field Marketing 51.1 (51.1) - - Unallocated¹ 25.5 (25.4) (0.1) - Total Net Revenue 225.2 (76.5) (0.1) 148.6 Op