Enero Group Limited · ASX:EGG
Enero — H1 FY2013 Earnings Presentation
20 slides from Enero's earnings presentation, Feb 14, 2013
Slide 1: Results for half year ended 31 December 2012
For personal use only ASX ANNOUNCEMENT 14 February 2013 Results for half year ended 31 December 2012 Enero Group Limited (ASX: EGG) today announced its results for the half year ended 31 December 2012. Summary Strengthening global leadership team and senior management with key new hires Continui
Slide 2: Net loss after tax, pro forma performance and financial position
For personal use only 4. The results announcement and attached presentation includes the following measures used by the Directors and management in assessing the on-going performance and position of the Group: Operating EBITDA, Pro forma net revenue, pro forma Operating EBITDA, NPAT before significa
Slide 3: FY13 Half Year Results
For personal use only Enero Group Limited FY13 Half Year Results 14 February 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: Topic Slide
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 • Stronger Global leadership team and senior management with key new hires. • Operating company initiatives being rolled out including targeted cross business collaboration and centralisation of data capabilities to better take advantage of knowled
Slide 8: Executive Summary cont'd: Financial
Executive Summary cont’d For personal use only Financial • Net Revenue and Operating EBITDA lower. • Net loss after tax reduced but impacted in current reporting period by non cash impairment charge on carrying amount of intangible assets. • Corporate overhead running to plan with inclusion of new k
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 18 and 19 for further details. SIX MONTHS ENDED 31 DECEMBER ($M) 2012 2011
Slide 10: Operational Update
For personal use only Operational Update PAGE 8 Enero Group Limited
Slide 11: Operational Update cont'd
Operational Update cont’d For personal use only Operating EBITDA down on prior year performance on a continuing business basis • Difficult operating conditions impacting operating businesses with many discretionary projects from clients put on hold and a general reduction in client spending. • Naked
Slide 12: Operational Update cont'd
Operational Update cont’d For personal use only • Frank PR launched in USA with some investment costs. • Creation of a centralised data services unit underway to leverage knowledge and skill sets across geographies and operating businesses and better harness “big data” capabilities. • Cross business
Slide 13: Geographical Contribution from operating companies
Operational Update cont’d For personal use only Geographical Contribution from operating companies Pro forma Net Revenue Pro forma Net Revenue 1H FY2013 1H FY2012 11% Australia, NZ 8% Australia, NZ and Asia and Asia UK and 29% UK and 29% Europe Europe 60% 63% North America North America Pro forma Op
Slide 14: Financials
For personal use only Financials PAGE 12 Enero Group Limited
Slide 15: Profit & Loss Summary
Financials For personal use only Profit & Loss Summary SIX MONTHS ENDED 31 DECEMBER ($M) 2012 2011 Net Revenue 67.8 139.5 Staff Costs (48.9) (102.0) Operating Expenses (16.6) (23.5) Operating EBITDA¹ 2.3 14.0 Operating EBITDA Margin 3.4% 10.0% Depreciation & Amortisation (2.3) (4.7) Net Interest - (
Slide 16: Profit and Loss Summary cont'd: Significant items
Financials con’t 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 $75.9m being recognised. A weaker than expected performance during the first half drove this charge. SIX MONTHS ENDED 3
Slide 17: Balance Sheet & Cash Flow
Financials con’t For personal use only Balance Sheet & Cash Flow ($M) 31 Dec 2012 30 Jun2012 SIX MONTHS YEAR ENDED 31 DECEMBER ($M) 2012 2011 Cash 19.0 21.5 Operating EBITDA 2.3 14.0 Net Working Capital 7.5 11.3 Movement in Working Capital 2.3 (2.5) Net Assets Held for Sale¹ - 7.8 Restructure costs
Slide 18: Deferred Consideration Profile
Financials con’t For personal use only Deferred Consideration Profile • Deferred consideration outstanding at December 2012 of $0.5 million • Tranche 1 – $0.5 million capped cash payments. • Tranche 2 – 20,834 shares remain in escrow conditions • Tranche 3A & 3B – EBITDA triggers adjusted for divest
Slide 19: Net Revenue & Operating EBITDA
Appendix For personal use only Net Revenue & Operating EBITDA DIVESTED CLOSED SIX MONTHS ENDED 31 DECEMBER 2012 ($M) 2012 TOTAL 2012 PRO FORMA COMPANIES BUSINESSES Operating Companies 66.1 - - 66.1 Unallocated¹ 1.7 (1.7) - - Total Net Revenue 67.8 (1.7) - 66.1 Operating Companies 6.0 - - 6.0 Unalloc
Slide 20: Net Revenue & Operating EBITDA
Appendix For personal use only Net Revenue & Operating EBITDA DIVESTED CLOSED SIX MONTHS ENDED 31 DECEMBER 2011 ($M) 2011 TOTAL 2011 PRO FORMA COMPANIES BUSINESSES Operating Companies 75.1 - - 75.1 Field Marketing 51.1 (51.1) - - Unallocated¹ 13.3 (13.2) (0.1) - Total Net Revenue 139.5 (64.3) (0.1)