Seek Limited · ASX:SEK
Seek — Investor Day (2011)
95 slides from Seek's investor day presentation, 2011
Slide 1: SEEK Investor Day 2011
SEEK Investor Day 2011 Overview of SEEK, SEEK Education & SEEK International
Slide 2: Introduction by CFO – John Armstrong
Introduction by CFO – John Armstrong Today’s Purpose & Agenda 1. Overview of SEEK 2. SEEK Employment 3. SEEK Education 4. Lunch 5. SEEK International 6. Q&A ▪ There will be an opportunity to meet with the management team over lunch 2
Slide 3: Overview of the SEEK Group
Welcome by CEO – Andrew Bassat Overview of the SEEK Group International Domestic Employment Education Employment Businesses & Timelines 1997 2004 2006 Australia 2006 2008 2004 New Zealand 2008 2007 2010 2011 Swinburne: 2010 SEEK JV 3
Slide 4: SEEK’s philosophical approach
SEEK’s philosophical approach ▪ SEEK makes business, investment and strategic decisions with a medium to long-term horizon and an unwavering focus on creating long-term shareholder value - SEEK has a strong track record of organic and M&A growth ▪ SEEK only invests in businesses where it can leverag
Slide 5: SEEK’s vision & strategic focus in each pillar
SEEK’s vision & strategic focus in each pillar Domestic Employment Education International Employment Vision Vision Vision • #1 destination for employers & job • SEEK Learning & THINK: • To be the market leader in select seekers in Australia & NZ Australia‟s leading online destination high growth re
Slide 6: Medium to Long term Growth Story
Medium to Long term Growth Story Domestic Employment - Strong growth to come from continued structural migration of revenue from print to online - Structural migration of revenue to drive higher yields over the long term - SEEK to generate strong incremental earnings given relatively fixed cost base
Slide 7: SEEK is well positioned for robust growth over a long time horizon
SEEK is well positioned for robust growth over a long time horizon 1. Over the medium to long term, SEEK is well positioned for robust growth over the medium to long time horizon in each of Domestic Employment, Education and International Employment 2. Each pillar has multiple growth opportunities t
Slide 8: SEEK’s approach has delivered consistent growth over a long period of time
SEEK’s approach has delivered consistent growth over a long period of time Operating Revenue - CAGR of 38.6% EBITDA – CAGR of 41.9% Reported NPAT – CAGR of 36.6% $280.9M $89.5M $117.4M $109.8M $76.3M $210.2M $208.8M $97.8M $80.3M $55.5M $55.3M $157.0M $106.2M $49.0M $34.1M $69.6M $29.5M $19.3M $39.7
Slide 9: SEEK has an experienced & stable executive team
SEEK has an experienced & stable executive team to execute its growth strategies Name Current Position Years at Previous Experience SEEK Andrew Bassat CEO & Co-Founder 14 Management Consultant at Booz & Co and lawyer at Corrs Westgarth & Chambers John Armstrong Chief Financial Officer 9 Various seni
Slide 10: SEEK Employment
SEEK Employment 10
Slide 11: Australian labour market has grown in a sustained manner but remains below peak
Australian labour market has grown in a sustained manner but remains well below its peak Job volumes have steadily recovered but are still Growth in online job ads has outstripped the well below the peaks of Dec-07 growth in print ANZ Job Series – pcp growth in job ads SEEK New Job Index (Dec-07 = 1
Slide 12: The migration of revenue from print to online continues to run
The migration of revenue from print to online continues to run ... 12
Slide 13: SEEK is well positioned as 50% of ad spend still resides in print
...and SEEK is well positioned for growth as 50% of ad spend still resides in print Online vs. Print (%) Job Ad Volume1 Job Seeker Preferences2 Share of Spend3 Mar-11 Oct-10 Dec-10E Online 82% 75% 50% Print 18% 25% 50% What does this mean? o Approximately $200-250m4 of ad spend still resides in prin
Slide 14: SEEK has leadership on job seeker metrics
SEEK has leadership on job seeker metrics Australia Discussion Australia • SEEK has over 14m site visits per month a lead of close to 5x its nearest competitor o Over 1.3m mobile visits in Mar-11 • SEEK hosts approximately 67% of all jobs from Australia‟s major job sites • SEEK accounts for 83% of t
Slide 15: LinkedIn – What is SEEK’s position?
LinkedIn – What is SEEK’s position? What is it? Is it a threat? What’s SEEK’s strategy? A professional social network We’ve always been obsessive about Keep focusing on ROI leadership understanding alternatives to SEEK • Make job search even more Appeal for users Print & Direct Online Job
Slide 16: SEEK is well positioned for growth due to market leadership
SEEK is well positioned for growth due to its market leadership, exposure to favourable trends & improving job ad markets Volume Continue attacking industry segments such as Trade & Services, Regional, Govt & Healthcare Expect job ad volumes to continue migrating over the medium term from print to o
Slide 17: SEEK Education
SEEK Education 17
Slide 18: Why is SEEK involved in education?
Why is SEEK involved in education? 1. Synergies with SEEK Employment • SEEK has ~14m site visits a month from people looking for a job/or career change • A percentage of SEEK’s visitors are interested in career related education & training 2. Leverages SEEK’s core skills in strategy, sales and marke
Slide 19: SEEK has a strong financial track record in Education
SEEK has a strong financial track record in Education SEEK Learning IDP1 THINK2 Self Cert acquired in 2004 & Acquired 50% in 2006 1st 50% acquired in 2007 and 2 nd DWT in 2005 50% in 2009 Capital Invested of $36.5m Capital Invested of $6.5m Capital Invested of $97.5m (SEEK Learning & DWT
Slide 20: The market opportunity is large in education and SEEK is well positioned
The market opportunity is large in education and SEEK is well positioned ...and SEEK Education is well positioned in Education is a large market opportunity ... key segments. ~3m domestic & international 3.5 students in Australia 0.2 0.2 3.0 3.0 0.2 1.7 2.5 2.3 2.0 1.5 1.0 0.8 0.5 0.0 Domestic Domes
Slide 21: Domestic Education – Favourable Industry Dynamics
Domestic Education – Favourable Industry Dynamics Benefits of Education Current Situation 1. Income premium: Bachelor degree holders 1. Education penetration: 38% of population earn on average 32% more than those with aged 25-64 have no post-secondary no qualifications education and a further 35% ha
Slide 22: Domestic Education – Favourable Regulatory Dynamics
Domestic Education – Favourable Regulatory Dynamics Key Aspirations of the Bradley Review Practical changes due to Bradley Review 1. Increase attainment of bachelor degrees: By 1. Removal of caps on C‟wlth Supported Places 2025, 40% of all 25-34 years olds will hold a (“CSP”): Students places will b
Slide 23: Strong synergy benefits from SEEK Learning
Strong synergy benefits from SEEK Learning SEEK has leading positional assets ... ...to build a unique and profitable businesses SEEK Learning’s audience & capabilities are highly complementary to THINK & Swinburne JV Places all three businesses in a strong position in the domestic education mar
Slide 24: What is SEEK Learning?
What is SEEK Learning? ▪ A service that helps people find & enrol in education & training courses ▪ Established via the acquisition of the SelfCert training business in 2004. This was in response to jobs seekers on SEEK looking for guidance in finding education and training that is vocationally rele
Slide 25: SEEK Learning – Overview
SEEK Learning – Overview Vision Key Drivers of Earnings Growth To be the #1 online destination for career related Continue penetrating a large market opportunity education & training ~2.3m people aged between 25-64 in Australia want to study and large forecasted skills shortages to underpin medi
Slide 26: SEEK Learning - Education Providers
SEEK Learning - Education Providers Training VET Niche VET/HE U/grad P/grad TESOL College (Swinburne JV to come) “Broad range of vocational education providers designed to help 26 achieve career outcomes”
Slide 27: SEEK Learning – Key Revenue Drivers
SEEK Learning – Key Revenue Drivers H1 FY09 H2 FY09 H1 FY10 H2 FY10 H1 FY11 Ubs ('000) 1404.0 1435.0 1769.0 2243.0 2190.0 Traffic pcp growth (%) 26.0% 56.3% 23.8% H1 FY09 H2 FY09 H1 FY10 H2 FY10 H1 FY11 Enquires Enquiries ('000) 120.0 165.6 169.0 192.0 179.0 pcp growth (%) 40.8% 15.9% 5.9% H1 FY09 H
Slide 28: SEEK Learning - P&L
SEEK Learning - P&L SEEK Learning Group – Breakdown of P&L H1 FY11 – was a challenging half SKL significantly increased sales Revenue H1 FY09 H2 FY09 H1 FY10 H2 FY10 H1 FY112 personnel in H1 FY11 to meet expected SEEK Learning AUS 9.5 13.1 15.8 21.8 18.5 short & medium-term demand SEEK Learning UK
Slide 29: SEEK Learning - Long-term sustainable margins
SEEK Learning - Long-term sustainable margins Historic Cost Base (as % of Revenue) Long-term sustainable margins Analysis below is for SEEK Learning AUS only Analysis below is for SEEK Learning AUS only Numbers below are as % of revenue 50.0% 47.4% 44.5% 42.5% 38.6% ~35-40% 40.0% 40.2% 37.4% 2
Slide 30: SEEK Learning – Key Priorities
SEEK Learning – Key Priorities 1. Optimising sales processes and capabilities to drive operating leverage • Expect a return on investment from increased number of hires made in H1 FY11 • A key driver of revenue & earnings growth will be in improved operational efficiency and effectiveness 2. Improve
Slide 31: THINK Education Group – Colleges
THINK Education Group – Colleges Business & Health & Hospitality Design Wellness Colleges Colleges Colleges “THINK Colleges are market leaders in their respective niches” 31
Slide 32: What is THINK?
What is THINK? Overview • Broadest group of private colleges in Australia • Primary focus is on niche VET & higher education qualifications Business Model • Flexible online (FOL), distance & physical campuses across major capital cities in Australia • Main focus is on domestic students with ~15-20%
Slide 33: THINK– Overview
THINK– Overview Vision Key Drivers of Earnings Growth To be Australia‟s best and largest private provider of Penetrate fast growing private domestic education market vocationally focused VET and Higher education Private education sector to play an important role in helping Aspirations for THIN
Slide 34: Recognised for high academic quality
Recognised by education regulators & students for high academic quality Academic Quality Strong Student Satisfaction Strong Academic standing with 14 people on Student satisfaction of 4.2/5.0 THINK‟s Academic Board • Includes 6 independent directors Post graduation employment rates of 74% vs i
Slide 35: THINK’s management team have deep expertise
THINK’s management team have deep expertise in the education sector & business management Name Role Years Experience Phillipa Blakey CEO of THINK 15 years in healthcare Dr George Brown Academic Director 18 years* Malcolm Kinns Director of Distance Learning 13 years* Jenny Jenkins GM, Business & Hosp
Slide 36: Student growth after T1 – Up on pcp but below expectations
Student growth after T1 –Up on pcp but below expectations Total Students by Faculty Students by Modality 4500 10000 4017 9000 4000 3856 3742 8000 3500 7000 4291 3000 2857 3215 6000 2500 5000 2000 1660 4000 1500 1377 3000 4875 5128 1000 2000 500 1000 0 0 Business & Hosp Health Design 2010 2011 2010 2
Slide 37: THINK – Four phases to our change & growth agenda
THINK – Four phases to our change & growth agenda Stage 1 Stage 2 Stage 3 Stage 4 “Roll-up” “Consolidation” “Optimisation” “Expansion” Oct 2007 to May 2009 May 2009 to NOW FY12/13 to FY14/15 FY14/15 & beyond • SEEK a minority 50% • SEEK acquires 2nd 50% • Continued • Selective M&A where shareholder
Slide 38: THINK - H1 FY11 result was disappointing
THINK - H1 FY11 result was disappointing THINK P&L Discussion of Line Items Business & Health Revenue Revenue Hosp & Wellness Design Total • Net revenue refers to fee revenue net of credit notes Net Revenue 10.0 8.9 13.8 32.6 • Other Revenue relates to revenue from non-fee income Other Revenue 0.5 l
Slide 39: THINK - Key Earnings Drivers
THINK - Key Earnings Drivers H1 FY11 – Key Earnings Drivers LT OUTLOOK by Key Drivers FOL & DE Students • Expect strong rev. & student growth FOL & DE 4,490 • Avg Fees to increase driven by improved 25% of Rev retention & price increases $8.0m Avg Fees Fee $1,798 Campus Revenue* • Expect solid rev.
Slide 40: THINK– Key Priorities
THINK– Key Priorities 1. Focus on path to profitability: • Strong focus on cost base to achieve scale benefits from College Opex & Shared Services • Drive revenue growth through improvement in student retention & new student enrolments • Increase in sales & marketing efficiency 2. Drive operational
Slide 41: What is the Swinburne & SEEK JV?
What is the Swinburne & SEEK JV? Overview • A 50:50 partnership between SEEK & Swinburne University to build an organisation that will deliver new, online courses to meet the education needs of working Australians • Business will leverage SEEK Learning‟s online sales & marketing capabilities and Swi
Slide 42: Swinburne JV – Overview
Swinburne JV – Overview Vision Key Drivers of Earnings Growth • To build Australia‟s leading online higher education Penetrate a large & fast growing segment of the education provider to meet the needs of working Australians market Online education and education amongst working adults in Australia
Slide 43: Swinburne & SEEK JV – Roles & Responsibilities
Swinburne & SEEK JV – Roles & Responsibilities Key roles & responsibilities: • Admissions • Academic Staff Key role: Key role: • Course Delivery Contract for the provision of Students will be Swinburne enrolled students, with Swinburne providing • Academic Support sales & marketing services by SEEK
Slide 44: What is IDP?
What is IDP? ▪ IDP is the world‟s largest international student placement provider with over 80 placement centres in more than 25 countries worldwide • IDP enrols on average 25k students per annum for Australian institutions • IDP has recently commenced recruitment for institutions in the USA and wi
Slide 45: IDP - Overview
IDP - Overview Vision Key Drivers of Earnings Growth To be the pre-eminent placement and support service Extend student placement offering to include all provider for students wishing to pursue an international destinations: education experience IDP‟s student placement network has recruited only
Slide 46: Int’l Education – Tertiary enrolments & student mobility trends
Int’l Education – Tertiary enrolments & student mobility trends Tertiary Enrolments Mobile student enrolments Total tertiary enrolments grown by 4x Mobile enrolments grew by ~3.5x (1970 to 2007) (1975 to 2007) Growth in international student mobility has Continued urbanisation in China & India i
Slide 47: IDP – Australia’s international student sector
IDP – Australia’s international student sector Challenging headwinds ... ...and Australia’s outlook is uncertain Australia‟s international student sector is facing Hopeful that changes which reduce headwinds: assessment levels for student visa applications Changes to timing & requirements for
Slide 48: IDP – Issues in Australia highlight importance of multi-destination strategy
IDP – Issues in Australia highlight importance of multi-destination strategy Rationale for multi-destination Update on Multi-destination Increase in international student mobility is a USA: Over 80 institutions have signed up as long-term structural trend clients of IDP Brand awareness & accep
Slide 49: IDP – IELTS key attributes and key priorities
IDP – IELTS key attributes and key priorities Key Attributes & Key Markets Key Priorities Strong brand with global recognition Managing current decrease in testing volumes The preferred test for Australia, UK and Canada in India and expected decrease in Australia and growing in popularity in t
Slide 50: IDP – P&L & Key Operating Metrics
IDP – P&L & Key Operating Metrics P&L Discussion $m FY09 FY10 FY11 H1 FY11 has been a challenging half Revenue H1 FY09 H2 FY09 H1 FY10 H2 FY10 H1 IELTS 50.4 63.0 64.8 67.0 62.3 at revenue line due to market factors APF 33.6 40.2 27.6 29.4 20.3 Other 2.0 1.4 4.4 3.4 7.5 IDP able to achieve strong
Slide 51: IDP – Key Priorities
IDP – Key Priorities 1. Continued roll-out of multi-destination strategy with focus on system improvement project & client engagement 2. Manage direct & overhead costs in light of challenging short-term environment in Australia 3. Continuation of selective expansion activity: • UK and Canada – signi
Slide 52: Lunch
Lunch 52
Slide 53: SEEK International
SEEK International 53
Slide 54: Why has SEEK invested in international job boards?
Why has SEEK invested in international job boards? SEEK has a proven track record in Market leading job boards exhibit the managing & creating value in job boards following attractive characteristics 1. Pioneers in online job boards since 1997 1. Online job boards are a proven business model 2. SEEK
Slide 55: SEEK’s international investment acquisition criteria
SEEK’s international investment acquisition criteria Market Leaders • Strong market leadership or ability to become the market leader Attractive market • Early stage markets with exposure to fast growing economies, low characteristics internet penetration rates & large labour markets • Print to onli
Slide 56: SEEK’s international investments hold market leadership in fast growing regions
SEEK’s international investments hold market leadership in fast growing regions GDP Mkt Internet Labour Growth Business Country Position Population Penetration Force (m) 10F Brasil Online Brazil #1 210 36% 102 5.5% Zhaopin China #2 1330 32% 793 10.0% OCC Mexico #1 112 27% 46 4.2% JobsDB Indonesia #1
Slide 57: Strong financial performance in each investment
Strong financial performance in each investment Zhaopin JobsDB JobStreet 500 350 320 120 396.2 105.1 400 300 100 94.5 301.3 295.2 300 250 264.4 223 80 HKD m MYR m RMB m 200 200 60 150 46.7 100 120 43.5 36.6 100 40 0 63 FY08 FY09 FY10 H1 FY11 (31) 50 20 (100) (126) 0 (135) 0 (200) CY09 CY10 FY09 FY10
Slide 58: Key principles of SEEK’s engagement model with its international investments
Key principles of SEEK’s engagement model with its international investments 1. SEEK provides assistance to management teams with primary focus on corporate & business strategy SEEK assists management in business & corporate strategy by leveraging its unique and proprietary IP and experience in ea
Slide 59: Zhaopin
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Slide 60: Zhaopin - Overview
Zhaopin - Overview Vision Key Drivers of Earnings Growth To be a leading online job board in the People‟s Strong growth in internet usage should underpin Republic of China growth for a leading online job board o To hold market leadership in select geographic Forecast growth of key internet metri
Slide 61: Zhaopin – Key Competitor Metrics
Zhaopin – Key Competitor Metrics Ubs – month end (m) Page Views – month end (m) 35 1,000 931 29 30 26 25 736 727 738 754 24 800 25 22 21 646 20 17 600 15 15 15 404 400 10 167 159 5 200 - - Dec-09 Jun-10 Dec-10 Dec-09 Jun-10 Dec-10 Zhaopin 51Job ChinaHR Zhaopin 51Job ChinaHR Job Ads – month end (‘000
Slide 62: Zhaopin - Move to profitability primarily driven by online revenue growth
Zhaopin - Move to profitability primarily driven by online revenue growth ...leading to rapid growth in ...resulting in move to Strong market growth ... online revenue... profitability 250 234.4 350 60 # of Cities by Revenue Size 2009 2010 300 43.5 40 Revenue > RMB 15m 3 7 200 Revenue >10m <15m 3 9
Slide 63: Zhaopin – Zhaopin vs 51Job (Online Revenue)
Zhaopin – Zhaopin vs 51Job (Online Revenue) Zhaopin online revenue as % of 51Job 80.0 90% 72.2 78% 80% 70.0 68.0 72% 70% 64.3 67% 68% 70% 60.0 53.2 60% 58% 48.9 50.0 47.1 RMB (m) 50% 40.0 40% 30.0 30% 20.0 20% 10.0 10% 0.0 0% H2 FY08 H1 FY09 H2 FY09 H1 FY10 H2 FY10 H1 FY11 51Job absolute lead (LHS)
Slide 64: Zhaopin - Key Revenue Drivers
Zhaopin - Key Revenue Drivers # of Unique Customers Positions Posted 450,000 120,000 109,231 400,000 97,096 100,000 350,000 300,000 80,000 66,458 250,000 60,000 200,000 150,000 40,000 100,000 20,000 50,000 0 0 Apr-09 Apr-10 Feb-09 Sep-09 Feb-10 Sep-10 Jun-09 Jun-10 Jul-09 Dec-09 Jul-10 Dec-10 Mar-09
Slide 65: Zhaopin – P&L and Cash Flow
Zhaopin – P&L and Cash Flow P&L Discussion on P&L RMB '000 - at 100% of Zhaopin unless indicated Online revenue relates to sale of job ads and display Revenue H1 FY10 H2 FY10 H1 FY11 advertising Online Revenue 134,179 172,173 234,366 Other Revenue 45,218 44,636 60,796 Other Revenue primarily rel
Slide 66: Zhaopin – Key Priorities
Zhaopin – Key Priorities 1. Development of new products & services including: • Mobile search to expand Zhaopin’s distribution channel • Refinement of the webpage to improve advertiser and jobseeker experience & to further differentiate Zhaopin from its competitors 2. Increased geographic and custom
Slide 67: JobsDB
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Slide 68: JobsDB - Overview
JobsDB - Overview Vision Key Drivers of Earnings Growth To be the leading recruitment network in SE Asia with JobsDB has a leading market position in territories leadership positions across a number of key territories where internet penetration is low, labour force is large and economic prospects
Slide 69: JobsDB – Key Facts & Deal Structure
JobsDB – Key Facts & Deal Structure Key Facts Deal Structure Launched original recruitment network in Hong SEEK Asia has executed a share purchase Kong in 1998 agreement to acquire 60% of Jobs DB Inc o SEEK owns 60% of SEEK Asia alongside Key operating statistics: Consolidated Media Holdings,
Slide 70: JobsDB - Transaction Timeline
JobsDB - Transaction Timeline Date Event Parties Involved Aug. Initial discussions with vendor and exchange of high level commercial SEEK, PwC, Goldman Sachs information & commencement of commercial due diligence Sep-Nov. Financial, Legal & Commercial Due Diligence SEEK, Goldman Sachs, PwC, ABL, Bak
Slide 71: JobsDB – Job Metrics by Country
JobsDB – Job Metrics by Country CY10 – Unique Visitors CY10 – Job Ads Average per month Average per month 1.4 1.3 90,000 80,055 80,000 1.2 1.0 70,000 1.0 0.9 60,000 0.8 0.7 50,000 0.7 0.6 40,000 34,579 0.4 30,000 0.4 20,520 0.2 20,000 0.2 9,149 7,722 10,000 6,280 1,857 0.0 0 CJOL Singapore HK Philip
Slide 72: JobsDB – Key Revenue Metrics
JobsDB – Key Revenue Metrics Total Clients Unique Paying Clients As at December As at December 300,000 70,000 66,333 248,130 60,000 56,651 250,000 222,580 51,056 52,242 199,682 50,000 200,000 43,104 178,462 155,932 40,000 36,776 150,000 134,335 30,000 100,000 20,000 50,000 10,000 - - CY05 CY06 CY07
Slide 73: JobsDB - Characteristics by Country
JobsDB - Characteristics by Country Country Market Characteristics CY10 CY10 Rev EBITDA HK HK High Internet Penetration / $320m $120m More Mature Markets Hong Kong • Clear market leader & the most mature market that JobsDB operates in ~78% of • Strong growth outlook with volume and yield opportuniti
Slide 74: JobsDB – Key Insights
JobsDB – Key Insights Key Insights since Dec 1. High level of engagement between JobsDB & SEEK management teams • JobsDB possess a strong & committed management team and are excited by SEEK’s involvement 2. SEEK‟s experience in early stage markets is providing JobsDB management with new insights & m
Slide 75: JobStreet
J°bStreet.com The No.1 Job Site in Malaysia CTT ey er aaa Employers 55. 5s ima Sau Most Jobs 7-Y TRUSTe og! won Up > Get good job matches by email » Apply to jobs easily y Search All Jobs (22,142 jobs): a OO Previous Search: Accounting in Browse Jobs ioe ment , : Employers Ho 2 ne Jobs for Fresh Gra
Slide 76: JobStreet – Consistent growth over a sustained period of time
JobStreet – Consistent growth over a sustained period of time Quarterly growth in revenue & profit Quarterly growth in revenue & profit 35,000 MYR m 16,000 MYR m 16,000 50% 47% 47% 47% 14,000 46% 45% 30,000 14,000 44% 43% 42% 42% 40% 12,000 12,000 39% 25,000 37% 35% 35% 10,000 10,000 31% 20,000 30%
Slide 77: JobStreet - SEEK has made a strong return on its investment
JobStreet - SEEK has made a strong return on its investment JobStreet Share Price • SEEK‟s initial investment of 10% for A$19.0m announced on 17 September 2008 • SEEK purchases additional 12.4% for A$23.5m on announced on 10 March 2010 • Stock price of ~ MYR 2.75 values SEEK stake of JobStreet at ~A
Slide 78: Brasil Online
Brasil Online BUSCA DE EMPREGOS Um termo qualquer que deseja encontrar ne busca seu sucesso t NOSSO NEGOGO EX-ASSINANTE? REATIVE SUA ASSINATURA AGORA! VAGAS ANUNCIADAS: ‘sexta-feira 3.880 | HOJE 5.364 NUMERO DE CONTRATAGOES: ‘sexta-feira 562 | ULTIMOS 30 DIAS 12727 TOTAL 223.933 * Empregos Curriculo
Slide 79: Brasil Online – Job Seeker Business Model
Brasil Online – Job Seeker Business Model 160,000 140,000 120,000 100,000 80,000 >140k of job 60,000 40,000 placements in Catho is #1 20,000 0 2010 brand for Job 2007 2008 2009 2010 Seekers Brasil Online has similar “market place dynamics” to SEEK but derives most of its revenue from job seekers 140
Slide 80: Brasil Online - Overview
Brasil Online - Overview Vision Key Drivers of Earnings Growth To be the #1 online employment website in Brazil Exposure to growth in internet penetration, growing A leading online destination for professionals to middle class and economic growth in Brazil choose the best courses to enhance thei
Slide 81: Brasil – Key Competitor Metrics
Brasil – Key Competitor Metrics Unique Visitors (‘000) - 2010 Market share based on revenue Catho & Manager have 71% of the market based on 47% market share based on unique visitors revenue (2009) Elancers Monster Other Vagas 2% 1% 2% Catho 2663 Emprego 3% 4% BNE Vagas 1170 5% InfoJobs Manager 970 5
Slide 82: Brasil – Job Seeker Business Model
Brasil – Job Seeker Business Model Job Seekers get hired ... ...and Catho attracts high quality job ads Strong track record of subscribers getting hired High quality job listings attracts job seekers 160,000 149,444 100% 140,000 90% 120,000 80% 104,995 104,795 100,000 70% 79,776 72% 73% 60% 81% 82%
Slide 83: Brasil – Advertiser metrics
Brasil – Advertiser metrics Unique Advertisers & Job Positions No of top 1000 Employers & Job Ads 25,000 # of Top Ads from Ad per 140,000 1000 Coys Top 1000 Coy 120,000 20,000 CY09 month avg 304 2,916 9.6 100,000 CY10 month avg 420 6,629 15.8 15,000 80,000 60,000 10,000 Key sales force focus from
Slide 84: Brasil - Key Revenue Drivers
Brasil - Key Revenue Drivers Invoiced Users # of employers using CV Search 250,000 4500 4000 3841 225,000 3500 200,000 3000 2643 2500 175,000 2000 150,000 1500 125,000 1000 500 100,000 Jul-09 Jul-10 Sep-09 Feb-10 Feb-09 Sep-10 Jan-09 Jan-10 Dec-10 Dec-09 Jun-09 Jun-10 Aug-09 Aug-10 May-09 May-10 Oct
Slide 85: Brasil – P&L and Cash Flow
Brasil – P&L and Cash Flow P&L Cash BRL m - at 100% of Brasil Online unless otherwise indicated 80.0 H1 FY10 H2 FY10 H1 FY11 70.0 Net Revenue 70.6 81.8 83.2 COGS 21.7 26.2 29.0 60.0 GP 48.9 55.6 54.2 BRL (m) 50.0 GP / Net Rev % 69% 68% 65% Total Overheads 27.3 31.9 32.2 40.0 EBITDA 21.6 23.8 22.0 30
Slide 86: Brasil – Key Priorities
Brasil – Key Priorities 1. Continue active & invoiced user growth • Continue online & offline marketing spend to continue driving traffic to Catho Online • Increase geographic penetration eg. South East region of Brazil 2. Increase the number and quality of job listings • Continue to strengthen rela
Slide 87: OCC
occ Elssitio lider para encontrar empleo @ cualquier nivel (@occmundial.com’ Informacion pare | informacion pare| servicios ayuda candidatos empresas adcionales. , jatos y reclutadores Busqueda de empleo Palabra de bisqueda Contamos con: scsee) | Hace 60 dias (¥ 101,631 Categoria ; ofertas de trabej
Slide 88: OCC - Overview
OCC - Overview Vision Key Drivers of Earnings Growth To be the #1 online employment website in Mexico Exposure to growth in internet penetration and positive macroeconomic environment in Mexico Internet penetration is only ~27% and forecast to grow Expect increased labour force participation &
Slide 89: OCC – Key Competitor Metrics
OCC – Key Competitor Metrics Ubs – monthly (m) Page Views – monthly (m) 3,500 120,000 3,000 100,000 2,500 80,000 2,000 60,000 1,500 40,000 1,000 500 20,000 - - Dec-09 Jun-10 Dec-10 Dec-09 Jun-10 Dec-10 OCC Bumeran Zonajobs OCC Bumeran Zonajobs Job Ads – monthly (‘000) Share of Top 3 – Dec(10) 100% 3
Slide 90: OCC – Key Revenue Metrics
90 40,000 45,000 50,000 55,000 60,000 65,000 70,000 75,000 80,000 85,000 90,000 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Source: OCC Management Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Ad Volume Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Ad Volume (end of month) Oct-10 Nov-10 D
Slide 91: OCC – P&L and Cash Flow
OCC – P&L and Cash Flow P&L Cash MXN m - at 100% of OCC unless otherwise indicated 140.0 H1 FY10 H2 FY10 H1 FY11 Net Revenue 65.6 75.6 82.3 120.0 COGS 11.1 12.8 12.8 100.0 GP 54.5 62.8 69.5 MXN (m) 80.0 GP / Net Rev % 83% 83% 84% 60.0 Total Overheads 26.8 27.0 29.8 40.0 EBITDA 27.7 35.8 39.7 EBITDA
Slide 92: OCC – Key Priorities
OCC – Key Priorities 1. Continued development & refinement of OCC’s pricing model & customer segmentation strategy 2. Increase the number of job ads from SME & Regional customers 3. Launch of a SEEK Learning style business model at OCC • Focus on acquiring more partners & courses • Refinement of web
Slide 93: SEEK International - Key Insights
SEEK International - Key Insights SEEK owns some of • Backed by strong management teams & leading online media investors the world’s leading job • Leveraged to favourable structural & macro-economic trends in Asia & boards Latin America • Market leaders with a #1 or #2 position Each business has a •
Slide 94: Q&A
Q&A 94
Slide 95: JobsDB – Accounting Implications
JobsDB – Accounting Implications • Reflecting SEEK Asia‟s future equity ownership of 60% of JobsDB: o SEEK Group will account for 100% of JobsDB Revenue & EBITDA • At SEEK Group NPAT: • Outside Equity Interest (OEI) of JobsDB NPAT will need to backed out to arrive at NPAT attributable to SEEK shareh