Seek Limited · ASX:SEK
Seek — Shareholder Meeting (March 2016)
26 slides from Seek's shareholder meeting presentation, Mar 30, 2016
Slide 1: SEEK Limited Annual General Meeting 2011
SEEK Limited Annual General Meeting 2011 21 November 2011
Slide 2: 075 314 ("SEEK") and is general background information about SEEK’s activities intent or expectations
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 particular you a
Slide 3: SEEK operates a range of strategic businesses in Employment & Education
SEEK operates a range of strategic businesses in Employment & Education Domestic Employment International Employment Education Australia New Zealand Swinburne Online Key Operating Metrics (FY11) Key Operating Metrics (FY11) Key Operating Metrics (FY11) • FY11 174m cumulative AU & NZ visits • Populat
Slide 4: FY11 Overview
FY11 Overview Consistent strategy and effective execution delivers a record full year result Group Financial Performance Growth from diverse earnings streams underpinning a record full year financial result with normalised NPAT (Post NCI) of A$104.6m1 Profit increase driven by continued growth in em
Slide 5: SEEK achieved a record full year result for 12 months to 30 June 2011
SEEK achieved a record full year result for 12 months to 30 June 2011 For FY11 final dividend, SEEK has maintained FY11 – Headline Performance its dividend pay-out ratio at 50% of Cash NPAT2 A$m Growth A$ Growth SEEK Group FY10 FY11 $m % FY10 FY11 $ % Revenue1 280.9 343.1 62.1 22% Basic EPS (cents)
Slide 6: Continuation of SEEK's track record of consistent growth
... which is a continuation of SEEK’s track record of consistent growth over a long time period. Operating Revenue - CAGR of 36.1% Normalised EBITDA – CAGR of 38.9% Normalised NPAT (Post NCI) – CAGR of 33.6% $143.6M $104.6M $343.1M $117.4M $280.9M $109.8M $83.1M $76.3M $97.8M $210.2M $208.8M $80.3M
Slide 7: SEEK's FY11 look through result is Revenue ~A$558m and EBITDA ~A$188m
SEEK’s FY11 look through result is Revenue ~A$558m and EBITDA ~A$188m “Look through” Revenue “Look through” EBITDA FY06 – FY11 CAGR of 39.3% FY07 – FY11 CAGR of 32.6% A$557.6m A$187.5m A$454.3m A$128.3m A$399.4m $35.7m A$73.8m A$142.3m A$59.6m A$18.4m A$304.4m A$118.8m A$111.1m $9.2m A$205.3m A$14.2
Slide 8: Domestic Employment
Domestic Employment 8
Slide 9: SEEK Employment had a robust FY11
SEEK Employment had a robust FY11 SEEK Financials – continued recovery since the GFC Discussion on results A$m Growth Revenue growth of 30% (FY11 v FY10) SEEK Employment FY10 FY11 $m % Revenue 172.7 224.0 51.4 30% • Revenue growth attributable to volume of 22% EBITDA 93.4 133.5 40.1 43% EBITDA (%) 5
Slide 10: SEEK holds the #1 online market position in Australia and New Zealand
SEEK holds the #1 online market position in Australia and New Zealand ... Australia Source: October 2011 Nielsen NetRatings, SEEK Count of websites New Zealand 10 Visits: Number of visits per site TTOS: Share of total time on site across the top 2 or 3 players
Slide 11: Online is the preferred way to search for jobs
..and online is the preferred way to search for jobs. Online is the way to search for jobs1 … ...and SEEK is the #1 brand1 Q: If you were looking for a job and could use only one way to find a job, Q. When you think about employment websites on the internet, in what way would you choose to look for
Slide 12: Online dominates in job ads & job seeker preferences yet half of ad spend still in print
Online dominates in job ads & job seeker preferences yet half of ad spend still resides in print ... Online vs. Print (%) Job Seeker Job Ad Volume 1 Share of Spend 3 Preferences 2 Oct-11 Oct-11 Mar-11 Online 84% 74% 52% Print 16% 26% 48% What does this mean? o Approximately $200-250m4 of ad spend st
Slide 13: Structural migration from print to online will continue
...indicating future revenue growth as structural migration from print to online will continue Structural migration of revenue from print to online 80 USA Online Revenue as a % of total employment market 70 60 ~2 years lag Australia 50 40 30 20 10 0 2003 2004 2005 2006 2007 2008 2009 2011 (Mar) Cale
Slide 14: SEEK is well positioned for growth due to market leadership and structural trends
SEEK is well positioned for growth due to its market leadership and exposure to favourable structural trends Volume • Continue attacking industry segments such as Trade & Services, Regional, Govt & Healthcare. SEEK has repositioned its Exec offering to better serve this market • Expect remaining job
Slide 15: SEEK International
SEEK International 15
Slide 16: SEEK International has exposure to over ~2b people and ~20% of Global GDP
SEEK International has exposure to over ~2b people and ~20% of Global GDP China Zhaopin CJOL1 (56 %) Mexico • Zhaopin is #2 overall SE Asia • CJOL is #2 in South China OCC (40 %) JobStreet JobsDB • Population of ~1,330m (22 %) ( 80 %) • Internet penetration ~32% • #1 Market Position Brazil • #1 or #
Slide 17: SEEK International achieved revenue of A$128.3m & EBITDA of A$35.7m
On a look through basis, SEEK International achieved revenue of A$128.3m & EBITDA of A$35.7m SEEK International1 – Pro-Forma2, 3 Pro-Forma2, 3 – Strong Revenue & EBITDA Growth SEEK Int'l $Am Growth A$128.3m Pro-Forma 2,3 FY10 FY11 $m % Revenue 73.8 128.3 54.5 74% EBITDA 9.2 35.7 26.4 287% A$35.7m EB
Slide 18: SEEK's Asian Business performed very well in FY11
SEEK’s Asian Business performed very well in FY11 In FY11, achieved online revenue growth of 73% vs pcp & SEEK’s share of NPAT was A$8.7m1 Strategic focus is to continue growth via expansion into new markets and in under-penetrated segments (industry verticals & geography) In FY11, strong reve
Slide 19: SEEK's Latin American businesses provide a platform for strong growth
SEEK’s Latin American businesses provide a platform for strong growth In FY11, achieved revenue growth of 16% and normalised EBITDA1 growth of 23% vs pcp SEEK received dividends of A$4.4m in FY11 Strategic focus is to leverage market leadership into growth in job listings and users via increas
Slide 20: SEEK Education
SEEK Education 20
Slide 21: SEEK Education faced headwinds in FY11 but positioned for future growth
SEEK Education faced headwinds in FY11 but has positioned itself for future growth SEEK Education1 – Pro-Forma2 “Look through” Education financials over the last six years1, 2 A$m Growth SEEK Education FY10 FY11 $m % $39.7M $23.3M $207.8M $205.3M Revenue 207.8 205.3 (2.5) (1%) EBITDA 39.7 18.4 (21.2
Slide 22: SEEK's Education Businesses
SEEK’s Education Businesses Strong H2 FY11 of A$24.3m (H2 v H1 growth of 20%) & EBITDA of A$8.6m (H2 v H1 growth of 91%) – Driven by achieving strong improvements in key operational metrics Strategic focus is to continue executing on operational improvements and adding new courses and partners
Slide 23: Trading Update
Trading Update 23
Slide 24: Trading Update – FY12 YTD
Trading Update– FY12 YTD DISCUSSION ON YTD RESULTS • Domestic employment results proving to be resilient reflecting market leadership position and robust business model • International employment results are pleasing reflecting exposure to favourable structural trends in internet penetration & lab
Slide 25: Resolutions and Proxy Votes received - Annual General Meeting
Resolutions and Proxy Votes received - Annual General Meeting 21 November 2011 Resolution Vote type Voted % % of all securities 2, REMUNERATION REPORT For 189,383,586 95.11 56.18 Against 9,339,793 4.69 2.77 Open-Usable 388,996 0.20 0.12 Abstain 607,697 N/A 0.18 3, RE-ELECT MR N CHATFIELD For 212,623
Slide 26: Resolutions and Proxy Votes received - Annual General Meeting
Resolutions and Proxy Votes received - Annual General Meeting 21 November 2011 Resolution Vote type Voted % % of all securities 5, INCREASE OPT TO A BASSAT For 198,011,198 96.91 58.74 Against 5,273,974 2.58 1.56 Open-Usable 1,043,961 0.51 0.31 Abstain 286,047 N/A 0.08 6, APPROVE ISSUE OF OPTIONS For