Slide 1: SEEK Limited H1 FY15 Results Presentation
SEEK LIMITED -H1 FY19 RESULTS PRESENTATION (6)MONTHS TO 31 DECEMBER 2014 . . eeete . . e . . * = eee er eter ee or personal u . Og hele OOOO alg ce Oa Ola etnias e ©.0rt ease Oe eg bi Aa a OO Og Sieur eel ace
Slide 2: Disclaimer
Disclaimer The material in this presentation has been prepared by SEEK Limited ABN 46 080 075 314 ("SEEK") and is general background information about SEEK’s activities current as at the date of this presentation. The information is given in summary form and does not purport to be complete. In parti
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Slide 4: SEEK is having a global impact improving people's lives
SEEK is having a global impact improving people’s lives across employment & education Our Purpose: To help people live more fulfilling and productive working lives and help organisations succeed SEEK Domestic SEEK International SEEK Education 35+ MILLION : 2 330+ MILLION : : 55,000+ Monthly Visits :
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Slide 6: SEEK's long-term strategic focus has led to strong results
SEEK’s long-term strategic focus has led to strong results over a sustained period... “Look-through” Revenue $426.8m “Look-through” EBITDA H1 FY04-H1 FY15 CAGR of 34% H1 FYO4~H1 FY15 CAGR of 37% $167.5m $357.8m 148.01 $131.4 $145.0m $39.5m $288.0m $106.5m $31.9 $116.4m $107.3m $262.2m $225.6m $80.8m
Slide 7: Total shareholder return
For personal use only 882.0% 214.1% 118.9% 45.1% 57.1% 13.0% 1 year TSR 5 year TSR Since SEEK's IPO (19 April 2005) •
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For personal use only H1 FY14 0.5x H1 FY15 1.1x H1 FY14 35.4x H1 FY15 58.8x • • • • •
Slide 12: Effective capital management
... that has supported effective capital management. Capital Deployed : Strong growth in Dividends : i High returns from M&A F i Investment for Growth Total dividends paid! of : Return on capital deployed : i Total Group Capex A$484m it c4x oe cA$120m Since IPO it i FY12 to H1 FY15 > Cs) seek Exclud
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SEEK EST 75% a ae COS he ae el Ve Soescet Peale X a Sear ersonal use onl x etttee * . . “! Jessen’ For . et teey x tote, . reels oS eee, “t eeelt . ; . eeate ao thes ed has te aes -* *% stele <3 ottie aie . ; . . . a . Pe + x pes . Cb . : i : . . rm $33 * Me f * : in ef > Par Sys
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40% • For personal use only • 22% • 3% 1% 1% Professional Online classifieds Aggregators SEEK Word of mouth / networks (incl Gumtree) (incl. Indeed) Social / Direct • (LinkedIn) • • 15
Slide 16: SEEK Domestic's core drivers of future earnings growth
SEEK Domestic’s core drivers of future earnings growth H Structural migration of print to online SEEK to capture volume & revenue opportunities from the continued structural migration from print to online SEEK’s core drivers of earnings growth Improvement in the economic cycle : Expect SEEK to be a
Slide 17: Market leadership and structural migration to online
SEEK’s market leadership positions it as a strong beneficiary of continued structural migration Online is the clear leader in job ad volumes and Structural migration of revenue from print to online user preferences is a continuing trend Job Ad Jobseeker Share of m0 USA Volume’ Preferences? Spend? 3
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60 65 70 75 80 85 90 95 100 105 For personal use only Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Apr-12 Jun-12 Aug-12 Oct-12 Dec-12 SEI Index (LHS) Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 U/E rate (RHS) Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 4.5% 5.0% 5.5% 6.0% 6.5% • • • •
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— mH 171 1 For personal use only Se et eo eet teeg, ° *_* sete . + * . +. + *. *« « . * nde! ite . oe? s e* a»: 2.36 ?. 0 45.4 oe ee Se Cag (Pecos ee et at et eta” 7 * * + eg, 9240062397 29 _ o*,* 6%
Slide 21: SEEK International ownership interests
zha@ ea (66.4%) ss ZPIN eR PEA AE owns (51%) |° jobs. CJOL.com 55 40, Brazil {51 %) LARGEST JOB SITE IN BANGLADESH China © occmundiat Bangladesh (25%) Mexico (56.4%) SEEK Asia (75.6%! eB. B JobStreet.com Hong Kong & South East Asia Mont mERICA MEDIA Kenya, Nigeria, South Africa (24.4%) Australia & N
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Slide 38: Near Term Business Priorities
Near Term Business Priorities 1. Integration of JobStreet and JobsDB to deliver more value to jobseekers and employers 2. Continue to re-invest in the following growth opportunities * Evolving & developing products & technology to support the placement strategy * Adjacent technology & product offeri
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Slide 40: Appendices
APPENDICES Oren < © SEEK Group page 41 * SEEK Domestic page 60 @) SEEK International page 63 @) SEEK Education page 75 =) SEEK Volunteer page 79 = Overview of Non-IFRS Info page 80 40
Slide 41: Appendices: SEEK Group
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Slide 43: Reported Result by Business Unit & Dividends
Reported Result by Business Unit & Dividends Reported Results by Business Unit 43 ‘THINK results reflect 5 months consolidation in H1 FY14 and nil contribution in H1 FY15 following divestment on 30 Nov-13 2 Dividends received includes distributions A$m Growth A$m Growth . SEEK Domestic HIFYIS HIFYI4
Slide 44: Significant items included in SEEK's Reported NPAT
Significant items included in SEEK’s Reported NPAT NPAT Key Insights A$m H1 FY15 Significant items Hi FY15 HI FY14 Fair Value Gain on JobStreet transaction Reported NPAT (Post NCI) 182.8 111.2 + Non-cash gain of A$100m recognised on revaluing SEEK’s Reported NPAT (Post NCI) includes the following: e
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Slide 46: SEEK Group: H1 FY15 Segment Results
SEEK Group: H1 FY15 Segment Results H1 FY15 Segment Results Employment Brasil ace JobsDB Zhaopin JobStreet OAM Bdjobs international other Total International SKL iDP SOL Total Education Total Group Reported Depreciation Amortisation SEEKShare Non-operating Segment Amortisation of EBITDA 75.8 22.4 41
Slide 47: SEEK is a diversified business with a track record of growth
SEEK is a diversified business with a track record of growth “Look-through”! Revenue & EBITDA by Operating Division Reported Revenue & EBITDA by Operating Division Revenue SEEK Domestic SEEK Education SEEK International’ SEEK Group EBITDA SEEK Domestic SEEK Education SEEK International’ SEEK Group C
Slide 48: SEEK Group: Continuing vs Discontinued operations
SEEK Group: Continuing vs Discontinued operations Continuing Operations & Discontinued Operation Key Insights H1FY15 - A$m Operating Revenue EBITDA EBITDA (%] Reported NPAT (Post NCI] NPAT excl significant items & JobStreet PPA (Post NCI} EPS Basic EPS Reported (cents) Basic EPS excl significant ite
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Slide 51: Treasury rates & Policy
Treasury rates & Policy Weighted average interest rates (pre tax)- Borrowings Aspects of SEEK’s treasury policy Weighted Average interest rate % at 31 Dec 14 AUD denominated borrowings 4.5% USD denominated borrowings 2.0% RMB denominated borrowings 4.2% SGD denominated borrowings 4.1% HKD denominate
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Slide 54: Purchase Price Amortisation - Zhaopin, JobsDB & JobStreet
Purchase Price Amortisation - Zhaopin, JobsDB & JobStreet' Zhaopin AS'm 40 HI H2 HI HZ HI H2 OHI Ho HI H2 FYI4 Act FY14 Act FYI5Act FYISEst FY16 Est FYI6Est FY17Est FYI7 Est FYI8 Est FY18 Est JobsDB JobStreet (Indicative)! Agim 3.5 HI H2 HI H2 HI H2 HI H2 FY15 Act FY15 Est FY16 Est FY16 Est FY17 Est
Slide 55: Purchase Price Amortisation - Brasil & OCC
Purchase Price Amortisation — Brasil & OCC Brasil occ 55 Asin HI H2 FYI4Act FY14 Act HI FYIS Act H2 HI FYISEst FYI6Est H2 FYIS Est HI FYITEst H2 FYITEst AS'm 0.9 0.8 07 0.6 05 0.4 0.3 0.2 O41 0.0 HI H2 HI H2 HI H2 HI H2 HI H2 FYI4Act FYTGAct FYISAct FYISEst FYISEst FYI6Est FYI7Est FYI7Est FYI8 Est F
Slide 56: Update
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Slide 57: SEEK's detailed look-through P&L Analysis
SEEK’s detailed “look-through”' P&L Analysis “Look-through" Revenue & EBITDA (Non-IFRS Financial Information) $m wrevos | HtFvos | Htevos | Htevos | revs | utevos | anevor | Htevor | wtevos | Hivos | MtFvor ] Hievor | Mrevio | wrevio | Mrevir | wievix | onteviz | Htevi2 | Htevio | revis | omtevis |
Slide 58: Detailed Reconciliation of H1 FY15 Look-through to Reported Results
Detailed Reconciliation of H1 FY15 “Look-through"' to Reported Results Detailed Reconciliation of H1 FY15 "Look-through"' to Reported Results 58 Revenue SEEK Share “Look-through"” z - 5 IDP Swinburne Online JobStreet OAM Bdjobs ‘Adjacent businesses oy THINK Zhaopin JobsDB JobStreet Brasil occ Report
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Slide 60: Appendices: SEEK Domestic
& seek SS “APPENDICES SEEK DOMESTIC =) ‘© (<
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Slide 63: Appendices: SEEK International
© seek APPENDICES SEEK INTERNATIONAL =
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Slide 65: Zhaopin H1 FY15 Earnings Release (USGAAP) to SEEK Reported Results (IFRS) Reconciliation
Zhaopin H1 FY15 Earnings Release (USGAAP) to SEEK Reported Results (IFRS) Reconciliation H1 FY15 Zhaopin Reported Financials - USGAAP to IFRS Reconciliation Zhaopin Accounting Zhaopin Consolidated | Classification Policy Underlying RMBm USGAAP Differences Differences IFRS Total Revenue 635.4 46 fal
Slide 66: Zhaopin - Key Metrics
Zhaopin - Key Metrics’ H1 FY15 Average Daily Unique Visitors (m) H1 FY15 Average Monthly Visits per User 11.0 24 2.0 5.9 0.8 1.3 Zhaopin Competitor A Competitor B Zhaopin Competitor A Competitor B Source: iResearch, based on average daily unique visitors each month in H1 FY15 Source: iResearch, base
Slide 67: JobsDB - Detailed Financials & Key Metrics
JobsDB - Detailed Financials & Key Metrics P&L (JobsDB Group) Key insights The financials below include CJOL contribution from H1 FY13 to H2 FY14 H1FY15 includes no contribution from CJOL * In H1FY14, JobsDB results include a full 6 months contribution from CJOL in H1 FY14 of Revenue of HKD 33.5m &
Slide 68: Brasil Online - Detailed Financials & Key Drivers
Brasil Online - Detailed Financials & Key Drivers P&L Revenue & EBITDA BRL m - at 100% of Brasil Online unless otherwise indicated Pro-forma 100%: Local Currenc FY13 FY14 Revenue EBITDA H1FY13 H2FY13 HIFY146 H2FY14 HIFY15 “ee RM Net Revenue 108.9 120.6 116.2 133.4 128.2 120 90 Total Overheads 82.7 8
Slide 69: OCC - Detailed Financials & Key Drivers
OCC - Detailed Financials & Key Drivers 69 P&L Revenue & EBITDA MXN m -at otherwise indicated Pro-forma 100%: Local Currency R EBITDA FY13 FY14 tevenue EBITDA H1FY13 H2FY13 H1FY14 H2FY14 H1FY15 10 30 Net Revenue 86.0 94.2 137.8 128.5 130.8 140 0 Total Costs 70.2 70.6 70.6 79.7 81.7 120 60 EBITDA 15.
Slide 70: OCC - Key Competitor Metrics
OCC-Key Competitor Metrics’ Monthly Page Views? (‘000) Paid Job Ads ('000) 70,000 70,000 60,873 60,291 60,000 57,720 60,000 + ” 50,000 50,000 + 46,832 40,618 40,000 37,133 | . 34,500 31.720 40,000 30,000 30,000 + 19,715 20,000 st4o0 11,942 20,000 + fig'®335 13,400 13,133 ‘ 11,07 7,466 6,368 5.530 |
Slide 71: Reconciliation of SEEK's International associates' EBITDA to SEEK share of profits
Reconciliation of SEEK’s International associates’ EBITDA to SEEK share of profits OAM Bdjobs OAM Bdjobs H1FY15 H1FY14 H1FY15 H1FY14 A. Underlying ZARm at 100% ZARm ZARm A. Underlying BDTm at 100% BDTm BDTm EBITDA (56.6) (28.7) EBITDA 38.4 Tax & other 3.4 24.0 Tax & other (2.3) NPAT (53.1) (4.7) NPA
Slide 72: Reconciliation of International associates' EBITDA to share of profits (cont'd)
Reconciliation of SEEK’s International associates’ EBITDA to SEEK share of profits (cont'd) Equity Accounted investment in JobStreet Corp Berhad JobStreet Corporation Berhad [listco investment) 1 Jul to 19 Nov-14 HIFY14 A. Underlying MYRm at 100% MYRm MYRm EBITDA’ 24.9 22.5 Tax & other (8.0) (6.2) N
Slide 73: Reconciliation of SEEK's International Subsidiaries EBITDA to NPAT
Reconciliation of SEEK’s International Subsidiaries EBITDA to NPAT Zhaopin JobsDB H1FY15 H1FY14 H1FY15 HIFY14 A. Underlying RMBm at 100% RMBm RMBm A. Underlying HKDm at 100% HKDm HKDm EBITDA 174.3 139.4 EBITDA 79.4 73.2 D&A (14.4) (9.9) D&A (3.3) (4.2) PPA amortisation (19.0) (16.9) PPA amortisation
Slide 74: Reconciliation of SEEK's International Subsidiaries EBITDA to NPAT
Reconciliation of SEEK’s International Subsidiaries EBITDA to NPAT Brasil occ A. Underlying BRLm at 100% EBITDA D&A PPA amortisation Net interest Share-based payments & other expense Adjustments to acquisition tax provision! Income tax NPAT NCH @ 49% NPAT (Post NCI) - BRLm Converted into AUD @ NPAT
Slide 75: Appendices: SEEK Education
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Slide 76: SEEK Learning - Detailed Financials & Key Drivers
SEEK Learning - Detailed Financials & Key Drivers P&L Key Drivers A$m FY13 FY14 FY13 FY14 Revenue H1FY13 H2FY13 H1FY14 H2FY14 H1FY15 H1FY13 H2FY13 H1FY14 H2FY14 H1FY15 SEEK Learning AUS 24.2 33.5 33.1 51.6 40.2 Leads/enquiries ('000) 180.5 196.8 168.6 208.6 159.9 DWT 1.6 2.0 1.8 1.2 - pcp growth (%]
Slide 77: IDP - Detailed Financials & Key Drivers
IDP - Detailed Financials & Key Drivers P&L IELTS Metrics A$m FY13 FY14 Test candidates [#! Rev per Test candidate (A$) H1FY13 H2FY13 H1FY14 H2FY14 H1FY15 Revenue 400,004 267 250 249 2b IELTS 72.6 76.3 83.6 92.4 98.4 370,262 241 Student Placement 22.7 24.9 28.0 29.3 34.2 316,033 234.884 Other 100 9.
Slide 78: Reconciliation of SEEK's Education Associates' EBITDA to SEEK share of profits
Reconciliation of SEEK’s Education Associates’ EBITDA to SEEK share of profits IDP Swinburne Online H1 FY15 H1FY14 H1 FY15 H1FY14 A. Underlying A$m at 100% A$m A$m A. Underlying A$m at 100% A$m A$m EBITDA 27.9 24.4 EBITDA 13.8 8.2 D&A (3.3) (3.3) D&A (0.4) (0.2) Net Interest 0.3 0.6 Net Interest 0.3
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