Slide 1: Full Year Results Presentation
For personal use only Full Year Results Presentation Year Ending 30th June 2008
Slide 2: For personal use only
For personal use only 2
Slide 3: Full year overview
Full year overview For personal use only Consistent strategy and effective execution delivers results 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 market share
Slide 4: Financial Performance
Financial Performance For personal use only 4
Slide 5: Strong FY08 Financial Results…
Strong FY08 Financial Results… For personal use only $M Growth SEEK LTD (Reported) FY07 FY08 $ % Growth Revenue 157.0 210.2 53.2 34% © FY07 FY08 % EPS 19.6 26.6 36% © EBITDA 80.3 109.8 29.5 37% © EBITDA Margin % 51% 52% - 1% © H1 - Interim Dividend 6.0 8.7 45% © Associates 2.0 2.7 0.7 35% © H2 - Fin
Slide 6: ...underpinned by solid H208 performance…
...underpinned by solid H208 performance… For personal use only $M Growth SEEK LTD (Reported) H207 H208 $ % Revenue 87.0 110.3 23.3 27% © Financial Results - H2 Five Year Trend EBITDA 45.7 57.9 12.2 27% © $M EBITDA Margin 53% 52% - - $110.3 NPAT 31.6 40.7 9.1 29% © Note: Revenue excludes interest in
Slide 7: …continuing the trajectory over the last years
…continuing the trajectory over the last 5 years For personal use only Financial Results - Five Year Trend $M $210.2 $157.0 $109.8 $106.2 $80.3 $76.3 $69.6 $55.5 $49.0 $39.7 $34.1 $29.5 $19.3 $14.4 $13.8 FY04 FY05 FY06 FY07 FY08 FY04 FY05 FY06 FY07 FY08 FY04 FY05 FY06 FY07 FY08 Revenue EBITDA NPAT C
Slide 8: Significant investment in our long term sustainability
Significant investment in our long term sustainability For personal use only Capex Spend $M $10.1M $10.1 $8.9M $8.9 Fitouts Reduced Capex of Projects $3.5M in H208 SAP vs $5.4M in H108 IT FY07 FY08 8
Slide 9: Continued strong operating cash flows
Continued strong operating cash flows For personal use only FY08 Cash Position H108 Operating Cash (Pre-Tax) $42.7M H208 Operating Cash (Pre-Tax) $63.4M $105.2 = ($0.1) Zhaopin $15.1M 48.5% growth Think $38.0M ($32.5) $7.2 $30.0 ($53.1) $30.8 ($8.5) $31.9 ($47.1) Cash @ Beg Operating Net Interest Ta
Slide 10: Outlook FY09
Outlook FY09 For personal use only ¨ Migration of employment advertising from print to online expected to continue, and potentially accelerate Employment market remains strong, with slight softening over past 8 months ¨ Trading conditions over first 6 weeks of FY09 in line with expectations ¨ Expans
Slide 11: Employment
For personal use only 11 Employment
Slide 12: Growth in online job ad market continued in FY08…
For personal use only 12 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 Print Nov-02 Jan-03 Mar-03 May-03 Source: ANZ Job Advertisements Series Online Jul-03 Sep-03 Nov-03 Jan-04 Mar-04 May-04 Jul-04 Sep-04 Nov-04 Jan
Slide 13: … as user preference for online continues to grow…
… as user preference for online continues to grow… 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% 35.4% 31.5% 31
Slide 14: …and online share of revenue growing rapidly
…and online share of revenue growing rapidly For personal use only Migration of jobs classifieds revenue from print to online (2001-2010F; %) 70 60 USA Online penetration (%) 50 40 30 Australia ~2 years lag UK 20 Germany 10 France1 0 2001 2002 2003 2004 2005 2006 2007 2008F 2009F 2010F Note: France
Slide 15: Investment in the SEEK brand continues to deliver…
Investment in the SEEK brand continues to deliver… For personal use only Online “Search term” popularity 15
Slide 16: …resulting in a strong market leadership position in Australia & NZ…
…resulting in a strong market leadership position in Australia & NZ… For personal use only Australia AU Online Share - Key Metrics July 2008 Market % of Top 3 Ads UBs TTOS 100% Reach UBs SEEK 60% 53% 77% 66% 75% MyCareer 18% 22% 12% 28% CareerOne 22% 25% 11% 31% 50% ADs UBs SEEK @ July Growth Growth
Slide 17: …with significant headroom remaining as the share of spend is predominantly in print
…with significant headroom remaining 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 on
Slide 18: Focus on key growth drivers remains consistent
Focus on 3 key 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 © Yield inc
Slide 19: Learning - Training & Education
Learning - Training & Education For personal use only 19
Slide 20: 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 21: Our 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 #039;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 22: SEEK Learning is delivering…
SEEK Learning is delivering… For personal use only Strategy/ Opportunity Continue to build the first & best place to go for career related education & training Partnerships & Products New partners signed in last 12 months: FY08 – ACAP, Martin College, JMC, and ACNT New partners for FY09 – APM, Billy
Slide 23: …and IDP performing well ahead of expectations…
…and IDP performing well ahead of expectations… For personal use only Strategy/Opportunity • Development of growth opportunities in both student recruitment and English language testing • Continued focus on optimising network • Driving online strategy • Broader range of products in both businesses R
Slide 24: …with Think: Education providing further scope for expansion
…with Think: Education providing further scope for expansion For personal use only Think: Education Group (formerly Amadeus) • Education Investment Company focused on growth and development of high quality education enterprises • Bringing together senior executives with extensive worldwide experienc
Slide 25: International
For personal use only 25 International
Slide 26: Our international footprint is expanding
Our international footprint is expanding For personal use only International - Other • Currently we are closely assessing two international opportunities, however at this point we are not in a position to announce further details Zhaopin • Online employment market in China is currently estimated to
Slide 27: In Conclusion
For personal use only 27 In Conclusion
Slide 28: SEEK is well positioned for the future
SEEK is well positioned for the future For personal use only Our focus on key drivers of growth remains consistent… EMPLOYMENT LEARNING INTERNATIONAL Volume SEEK Learning China Yield IDP Other International New Products Think Delivering strong financial performance 28
Slide 29: For personal use only
For personal use only 29