Enero Group Limited · ASX:EGG
Enero — H1 FY2019 Earnings Presentation
21 slides from Enero's earnings presentation, Feb 13, 2019
Slide 1: Results for the half year ended 31 December 2018
Enero Group Limited ABN 97 091 524 515 Level 2, 100 Harris Street Pyrmont NSW 2009 Australia t. +61 2 8213 3031 ASX ANNOUNCEMENT For personal use only Results for the half year ended 31 December 2018 Enero Group Limited (ASX: EGG) today announced its results for the half year ended 31 December 2018.
Slide 2: Notes, business operating performance and dividend
Notes: 1. Operating EBITDA is net profit before interest, taxes, depreciation, amortisation, impairment of intangibles, contingent consideration fair value For personal use only gains/losses, gains/losses on sale of assets and acquisition costs. Operating EBITDA is the primary measure used by manage
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Slide 4: Enero Group FY19 Half Year Results February 2019
For personal use only ENERO GROUP FY19 HALF YEAR RESULTS 13 FEBRUARY 2019
Slide 5: Half Year Highlights
FY19 HALF YEAR HIGHLIGHTS For personal use only Delivering growth Net Revenue up 33% to $63.7m. Operating EBITDA up 75% to $10.0m. Operating EBITDA margin at 15.7%. Earnings Per Share (EPS) before significant items up 95% to 7.2 cps. Digital capability expansion through Orchard acquisition in FY18 h
Slide 6: Operating Companies
OPERATING COMPANIES For personal use only Insight & Creative & Integrated Digital Strategy Content Communications & PR 4
Slide 7: Key Financial Metrics
FY19 KEY FINANCIAL METRICS For personal use only Six months ended 31 December ($M) Key Financial Metrics 2018 2017 Variance Net Revenue 63.7 47.8 33.3% Operating EBITDA¹ 10.0 5.7 75.4% Operating EBITDA margin² 15.7% 11.9% 3.8bp Net Profit after tax before significant items to equity holders 6.1 3.2
Slide 8: Group Financial Performance
FY19 GROUP FINANCIAL PERFORMANCE For personal use only Revenue and Operating EBITDA Six months ended 31 December ($M) • Impact of Orchard Marketing acquisition – 2018 2017 Variance acquired in February 2018 and therefore not in comparative period. Net Revenue 63.7 47.8 33.3% • 15% Organic revenue gr
Slide 9: Group Financial Performance: Profit and Loss Summary
FY19 GROUP FINANCIAL PERFORMANCE For personal use only Six months ended 31 December ($M) Profit and Loss Summary 2018 2017 Net Revenue 63.7 47.8 Other Revenue 0.1 0.1 Staff costs (43.6) (33.6) Operating expenses (10.2) (8.6) Operating EBITDA¹ 10.0 5.7 Depreciation (1.0) (1.3) Amortisation of intangi
Slide 10: Geographical Results
FY19 GEOGRAPHICAL RESULTS For personal use only Operating Companies only Six months ended 31 December ($M) Constant 2018 2017 Variance Currency Variance • International operations accounted for 52% of total revenue and 53% of Operating Companies EBITDA in Net Revenue 1HY19. The Group’s exposure to o
Slide 11: Geographical contribution from operating companies
FY19 GEOGRAPHICAL RESULTS For personal use only Geographical contribution from operating companies Net Revenue 1HY2019 Net Revenue 1HY2018 20% Australia 22% 44% 48% UK and Europe 30% 36% USA Operating EBITDA 1HY2019 Operating EBITDA 1HY2018 17% 32% 47% 43% 40% 21% 9
Slide 12: Geographical Results: Australia
FY19 GEOGRAPHICAL RESULTS For personal use only Australia Six months ended 31 December ($M) Constant Highlights 2018 2017 Variance Currency Variance • Strong growth in Australian market for all businesses. Net Revenue 30.4 20.9 45.5% - • Orchard included for current period. Excluding the impact of t
Slide 13: Geographical Results: UK and Europe
FY19 GEOGRAPHICAL RESULTS For personal use only UK and Europe Six months ended 31 December ($M) Constant Highlights 2018 2017 Variance Currency Variance • Increased efforts on new business have led to a 12% increase in revenue year on year (6% on constant Net Revenue 19.2 17.2 11.6% 6.0% currency ba
Slide 14: Geographical Results: USA
FY19 GEOGRAPHICAL RESULTS For personal use only USA Six months ended 31 December ($M) Constant Highlights 2018 2017 Variance Currency Variance • Material revenue improvement in USA market including constant currency impacts. Net Revenue 14.1 9.7 45.4% 43.2% • Hotwire USA building momentum with key c
Slide 15: Client Analysis
FY19 CLIENT ANALYSIS For personal use only Revenue diversification Revenue by industry • Strong client diversification with mix of clients Property & Telecommunications Construction 3% Utilities & Energy 1% across market industries and sectors. Transportation, Airlines & 2% Automotive • Largest clie
Slide 16: Balance Sheet & Capital Management
BALANCE SHEET & CAPITAL MANAGEMENT For personal use only Summary Balance Sheet As at ($M) 31 Dec 2018 30 Jun 2018 • Refer to slide 16 for analysis of contingent consideration including maturity profile. Cash 38.4 34.4 • Refer to slide 15 for Net Cash analysis. Net Working Capital 1.2 (0.4) • Interim
Slide 17: Balance Sheet & Capital Management: Leverage
BALANCE SHEET & CAPITAL MANAGEMENT For personal use only Leverage As at ($M) • Net Cash of $10.5m (30 June 2018 - $6.7m) at 31 Dec 2018 30 Jun 2018 balance date. Cash 38.4 34.4 • Balance sheet retains flexibility to pursue further Finance Leases (1.2) (1.9) acquisitions enhancing geographical presen
Slide 18: Contingent Consideration
BALANCE SHEET & CAPITAL MANAGEMENT For personal use only Contingent Consideration – movement during period ($M) Contingent • Recognised contingent consideration relating to Consideration both the Eastwick Communications and Orchard Opening 1 July 2018 (at present value) 25.8 Marketing acquisitions.
Slide 19: Cash Flow & Working Capital
CASH FLOW & WORKING CAPITAL For personal use only Six months ended 31 December ($M) 2018 2017 • Small working capital unwind in the period however working capital remains comparatively Operating EBITDA 10.0 5.7 low. Movement in working capital (0.9) 5.8 • Cash conversion at 95% of Operating EBITDA.
Slide 20: 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
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