Seek Limited · ASX:SEK
Seek — Shareholder Meeting (November 2007)
21 slides from Seek's shareholder meeting presentation, Nov 8, 2007
Slide 1: SEEK Limited Annual General Meeting
For personal use only SEEK Limited Annual General Meeting 8 November 2007
Slide 2: Agenda
Agenda For personal use only Ordinary Business 1. Joint Chief Executive Officer update 2. Financial Report and Statements 3. Remuneration Report 4. Re-election of Director Special Business 5. Increase in Non-Executive Directors’ remuneration 6. Amendment to Constitution 2
Slide 3: Joint CEO Update
For personal use only Joint CEO Update Paul & Andrew Bassat 3
Slide 4: Overview
Overview… For personal use only 9 Strong results in FY07 9 Ongoing migration from print to online will continue to drive growth 9 Significant growth opportunities 9 Focus on execution 4
Slide 5: Strong financial results continue in FY07
Strong financial results continue in FY07… For personal use only $M Growth SEEK LTD FY06 FY07 $ % Financial Results - Five Year Trend FY03 FY04 FY05 FY06 FY07 Revenue 106.2 157.0 50.8 48% © Employment 95.2 140.2 45.0 47% © $157.0M Learning 11.0 16.8 5.8 53% © EBITDA 49.0 80.3 31.3 64% © $106.2M Asso
Slide 6: Underpinned by strength across all growth drivers
…underpinned by strength across all growth drivers… For personal use only Other Job Ad Products/ Yield Volume New Markets Revenue growth of 32.1% attributable Revenue growth of 11.8% attributable Remaining revenue growth of 3.4% to volume to yield attributable to new products & markets Strong volume
Slide 7: Clear leadership in the Australian market
…delivering clear leadership in the Australian market… For personal use only 9 78% of time spent between the 3 major employment sites was on SEEK 9 SEEK exclusive audience remains very strong, with a 3.0x multiple over MyCareer and a 5.6x multiple over Career One 9 SEEK ad volume lead remains > 115k
Slide 8: Leadership also in New Zealand
… and also in New Zealand … 9 65% of time spent between the 3 major employment sites was on SEEK For personal use only 9 SEEK exclusive audience lead is 1.9x over Trademe, and 4.8x over Search4jobs 9 SEEK ad volume lead remains strong, with 2.5x greater than Search4jobs and 2.4x greater than Trademe
Slide 9: Outlook
Outlook… For personal use only 9 Migration of employment advertising from print to online expected to continue 9 Employment market remains strong Continued rapid expansion of SEEK Learning 9 Purchase of 50% Amadeus Education - expected to be EPS neutral in FY 08 9 Anticipate strong top line and bott
Slide 10: Growth
For personal use only 10 Growth
Slide 11: Focus on key growth drivers remains consistent
Focus on key growth drivers remains consistent… For personal use only LEARNING OPPORTUNITIES EMPLOYMENT OUTSIDE CORE Acquisitions & Partnerships DRIVERS OF FUTURE Volume International EARNINGS GROWTH Expansion Product expansion Yield (Zhaopin & other IDP Product Expansion International Opportunities
Slide 12: Structural shift in the Australian Classifieds Market
For personal use only 12 Seasonally adjusted job ads. (Common Base 100 = Jan 2002) - 50 100 150 200 250 300 350 400 Jan-02 450 Apr-02 Jul-02 Series1 Oct-02 Source: ANZ Job Advertisements Series Jan-03 Series2 Apr-03 Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Seasonally adj
Slide 13: Job seekers increasingly prefer online
…as Job Seekers increasingly prefer online as the #1 way to search for a job… For personal use only 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? Ways to look for a job Internet Newspaper 46.0% 45.7% 42.4% 38.0% 35.4% 34.5%
Slide 14: Online revenue growing with significant headroom
…and online revenue growing rapidly with significant headroom still remaining For personal use only Revenue penetration US vs. AU 38% 31% 25% 2 year 23% 22% lag 19% 18% 14% 14% 13% 11% USA Australia 2001 2002 2003 2004 2005 2006 2007 Source: Corzen (US); SEEK Estimates (AU); based on calendar year 1
Slide 15: SEEK Learning continues to deliver
SEEK Learning continues to deliver… For personal use only Strategy Build the first & best place to go for career related education & training New partners signed in last 12 months: Acquisitions FY07 - FINSIA, CMA, Wealth Within & Partnerships FY08 - ACAP, Martin College, JMC Acquired 50% share in Am
Slide 16: Further expansion through investment in Amadeus Education
…and further expansion through investment in Amadeus Education… For personal use only • Amadeus Education operates as an education investment holding and development company • Focused on acquisition, growth and development of high quality education enterprises Who is • Bringing together senior execu
Slide 17: IDP has delivered an outstanding result
…IDP has delivered an outstanding result… For personal use only Strategy/ Commercialisation of a Not for Profit organisation, and increasing market share in the IDP & IELTS business Opportunity FY 2007 9 FY07 EBITDA~ $20M; expected results @ acquisition $10M (CY06) IDP 100% SEEK Share 50% Actual Act
Slide 18: International expansion on track; Zhaopin in line
…and International expansion on track for future growth… Zhaopin in line with expectations… For personal use only SEEK continues to pursue other international expansion opportunities Zhaopin Strategy/ Continue to build brand and increase market share in major regions across China Opportunity 67% onl
Slide 19: In Summary
In Summary… For personal use only Financial Strong financial performance this year…and expected to continue Outlook Employment market expected to remain strong Strategy Continued consistent focused strategic agenda Market Migration from print to online Dynamics Market leaders in unaided awareness, a
Slide 20: Agenda
Agenda For personal use only Ordinary Business 5 1. Presentation by joint Chief Executive Officers 5 2. Financial Report and Statements 5 3. Remuneration Report 5 4. Re-election of Director Special Business 5 5. Increase in Non-Executive Directors’ remuneration 5 6. Amendment to Constitution 20
Slide 21: For personal use only
For personal use only 21