Slide 1: SEEK Limited FY15 Results Presentation
a —| < ©) SEEK LIMITED FY15 RESULTS PRESENTATION = fe) (12 MONTHS TO 30 JUNE 2015
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 across employment & education
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 Employment SEEK International SEEK Education 35+ MILLION 2 : 340+ MILLION : 99,000+ Monthly
Slide 5: FY15 Key Business Accomplishments
FY15 Key Business Accomplishments Integration of JobsDB and JobStreet * Delivered strong outcomes from complex integration Zhaopin is now the market leader in China ¢ Market leader based on number of jobseekers & number of unique hirers Successful launch of Premium Talent Search (“PTS”) * Sales are
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Slide 7: Continuation of SEEK's track record of growth
...are a continuation of SEEK’s track record of growth over a sustained period. “Look-through” Revenue $285.6m “Look-through” EBITDA a7 FY04 - FY15 CAGR of 33% FY04 - FY15 CAGR of 46% $233.7m $304.1m $736.7m | caad $632.0m $252.1m $79.2m $570.5m $260.8m $228.5m $46.2m $488.6m peg $195.0m $27.8 $148.
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Slide 11: SEEK has delivered strong shareholder returns via different growth strategies
SEEK has delivered strong shareholder returns via different growth strategies Since IPO, SEEK has delivered Total Shareholder Returns’ of c648% vs ASX 200 of c109% Incubating Businesses Running Businesses Acquiring Businesses ’ SEEK Learning & Swinburne * Online EBITDA increased 10x+ from From only
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Slide 13: SEEK has delivered a record full year result
SEEK has delivered a record full year result Reported Results! Financial Results - Continuing Operations A$m Growth A$m Growth FY15 FY14 $m % FY15 FY14 $m % Revenue” 858.4 756.4 102.0 13% Underlying Revenue” 858.4 713.3 145.1 20% Reported EBITDA 348.9 308.5 40.4 13% Underlying EBITDA 348.9 303.9 45.
Slide 14: Reconciliation of SEEK's NPAT result
Reconciliation of SEEK’s NPAT result Reconciliation of Results A$m Growth Ref. FY15 FY14 $m % slide 13. Reported NPAT (Post NCI) 281.2 195.6 85.6 44% slide 55 Discontinued Operations - (0.8) 0.8 n/m slide 51 Non-cash adjustments (94.4) (15.9) (78.5) 494% slide 52 JobStreet PPA 3.0 - 3.0 n/m Cont. Bu
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For personal use only FY14 0.9 FY15 1.3 FY14 17.4 FY15 20.8 • • • • • •
Slide 16: Strong growth in dividends
... Which has facilitated strong growth in dividends. Financial Results (per share metrics) Track record of Dividend Growth cents Growth EPS FY15 FY14 cents % Basic EPS - Continuing Ops [cents] 82.1 50.4 31.7 63% Dividend per share(cps) 36.0 30.0 6.0 20% Record full year dividend *Total FY15 dividen
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For personal use only 36% 32% 5% 3% 2% Professional Online classifieds Aggregators SEEK Offline (incl word networks (incl Gumtree) (incl. Indeed) of mouth) (LinkedIn) • • • • • • • • . 19
Slide 20: SEEK Domestic's core drivers of future earnings growth
SEEK Domestic’s core drivers of future earnings growth i Structural migration of print to : online SEEK to capture volume & revenue : opportunities from the continued : *, structural migration from print to online Improvement in the economic cycle earnings growth : . : 959 ; Expect SEEK to be a stro
Slide 21: Market leadership positions SEEK as main beneficiary of structural migration
SEEK’s market leadership positions it as the main beneficiary of structural migration Online is the clear leader in job ad volumes and user preferences Structural migration of revenue from print to online is a continuing trend Job Ad Jobseeker Share of Volume’ Preferences” Spend? Jul-15 Feb-15 Mar-1
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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 Feb-13 Apr-13 SEI Index (LHS) Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 U/E rate (RHS) Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 4.5% 5.0% 5.5% 6.0% 6.5% • •
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For personal use only • • • Jul-12 Jul-15 CAGR • (%) • Visits (m) 19.2 35.0+1 22% • Mobile Visits (m) 6.5 20.82 47% • Mobile Apps (m) 0.6 5.8 113% CV profiles (m) 1.4 6.1 63% • • Cloud based - 100k n/m • Advertiser Centre (clients) • 23
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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%
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For personal use only India (46.2%) China (63.2% / ZPIN owns 75.6% CJOL) Mexico (98.2%) Hong Kong, Malaysia, Singapore, Thailand, Indonesia, Philippines & Vietnam (80.8%) Brazil (51%) Kenya, Nigeria, South Australia & New Africa & others (30%)2 Bangladesh (25%) Zealand (100%)
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Slide 40: SEEK Early Stage
an Pp) USE EK | BEARLY STAGE
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For personal use only • • • • • Total NPAT (Post NCI) • • 41
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Slide 46: Appendices
APPENDICES Oren < © SEEK Group page 47 * SEEK Domestic page 65 @) SEEK International page 67 @) SEEK Education page 76 =) SEEK Volunteer page 80 —* Overview of Non-IFRS Info page 86 46
Slide 47: Appendices: SEEK Group
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For personal use only SEEK Domestic International Domestic International Numerous Employment Education Businesses Numerous Employment SEEK Learning Businesses Core SEEK Various Employment Learning Early Stage Early Stage Education • International Employment Other SEEK Early Stage - Refer slide 41 •
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Slide 50: Reported Result by Business Unit & Dividends
Reported Result by Business Unit & Dividends Reported Results by Business Unit A$m Growth A$m Growth SEEK Domestic FY15 FY14 $m % SEEK International FY15 FY14 $m % Operating Revenue 273.2 240.3 32.9 14% SEEK Asia EBITDA 154.2 145.7 8.5 5% Operating Revenue 104.7 59.4 453 76% EBITDA (%) 56% 61% EBITD
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Slide 53: SEEK Group: FY15 Segment Results
SEEK Group: FY15 Segment Results FY15 Segment Results A$m Reported Depreciation Amortisation SEEK Share Non-operating Segment Amortisationof Interest Interest Dividend Profit Income NPAT Non- Reported EBITDA of Associates gains& Other Result share-based income expense income before tax (Pre NCI) con
Slide 54: 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 CAGR(%) Period Revenue CAGR(%) Period SEEK Domestic 19.3% FY04 - FY15 SEEK Domestic 19.3% FY04 - FY15 SEEK Education 46.4% FYO5-
Slide 55: SEEK Group: Continuing vs Discontinued operations
SEEK Group: Continuing vs Discontinued operations Continuing Operations & Discontinued Operation Key Insights FY15 - A$m. Operating Revenue EBITDA EBITDA [%) Reported NPAT (Post NCI] NPAT excl significant items (Post NCI] JobStreet PPA Amortisation (Post tax & NCI) NPAT excl significant items & JobS
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Slide 58: Treasury rates & Policy
Treasury rates & Policy Weighted average interest rates (pre tax)- Borrowings Aspects of SEEK’s treasury policy Weighted Average interest rate % at 30 Jun-15 AUD denominated borrowings 4.1% USD denominated borrowings 2.1% RMB denominated borrowings 5.0% HKD denominated borrowings 4.8% SGD denominate
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For personal use only A#039;m • 18.0 16.0 14.0 • 12.0 10.0 • 8.0 6.0 • 4.0 2.0 • 0.0 FY13 Act FY14 Act FY15 Act FY16 Est FY17 Est FY18 Est • JobsDB BOL OCC Zhaopin JobStreet • • •
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Slide 62: SEEK's detailed look-through P&L Analysis
SEEK’s detailed ° ‘look-through”' P&L Analysis asm Fv05 FY06 Fvo7 Fv08 Fv0y [FO Fvi0 rin [rit Fvi2 Fis [A] FIG FIs UndringSE8K share] Underyng| SEEK Share| Uneeying Undertn SEEK Share| Under Undrtng SEEK share] Underyn| SEEK Share| Uncertying| SEEK Share) Underlying SEEKShore| UnderyngSEEKshar| Undr
Slide 63: Detailed Reconciliation of FY15 Look-through to Reported Results
Detailed Reconciliation of FY15 “"Look-through"™' to Reported Results Detailed Reconciliation of FY15 "Look-through"'to Reported Results 63 “Look-through” Revenue and EBITDA presented is based on ‘continuing businesses’ and ownership interests as at each reporting date [30 Jun]. THINK has been exclu
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Slide 65: Appendices: SEEK Domestic
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• • • • • For personal use only • • • • • • - 'm 5.0 10.0 15.0 20.0 25.0 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15
Slide 67: Appendices: SEEK International
© seek APPENDICES SEEK INTERNATIONAL =
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Slide 69: Zhaopin FY15 Earnings Release (USGAAP) to SEEK Reported Results (IFRS)
Zhaopin FY15 Earnings Release (USGAAP) to SEEK Reported Results (IFRS) Reconciliation FY15 Zhaopin Reported Financials - USGAAP to IFRS Reconciliation ZPIN USGAAP to IFRS Rec - FY15 RMBm Zhaopin Classification — Accounting Zhaopin Total Revenue 1,289.9 4.7 lal n/a 1,294.6 Op. Income (USGAAPI/ 286.1
Slide 70: Zhaopin - Key Metrics
Zhaopin - Key Metrics FY15 Average Daily Unique Visitors (m) FY15 Average Monthly Visits per User 2.1 1.9 - ; Zhaopin Competitor A Competitor B Source: iResearch, based on average daily unique visitors each month in FY15 Unique Customers (‘000s)' 11.2 6.2 Zhaopin Competitor A Competitor B Source: iR
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Slide 72: 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 Currency FY14 FY15 Revenue EBITDA HIFY14 H2FY14 HIFY15 H2FY15 “mn arom Net Revenue 116.2 133.4 128.2 137.7 Total Overheads lincl. COGS) 77.7. 89.5
Slide 73: OCC - Detailed Financials & Key Drivers
OCC - Detailed Financials & Key Drivers P&L Revenue & EBITDA MXN m -at 10 less otherwise ted FY14 FY15 Proforma H1FY14 H2FY14 H1FY15 H2FY15 Reported Revenue (100%) 137.8 128.5 130.8 160.6 Reported EBITDA (100%) 67.1 48.8 49.1 43.7 EBITDA % 49% 38% 38% 27% Underlying Revenue (100%) 104.8 128.5 130.8
Slide 74: OCC - Key Competitor Metrics
OCC-Key Competitor Metrics’ 74 Monthly Page Views? (‘000) Paid Job Ads (‘000) 70,000 5 80,000 60,000 + 57,720 70,000 67,536 50,358 60,873 60,291 50,000 + 60,000 46,832 40,000 “34599 37133 80,000 40,618 - 31,720 40,000 - 30,000 + ‘ 30,000 70.000 soo 11,942 13,546 >0.000 6,333 13,400 fggl?.715 13.133
Slide 75: Reconciliation of SEEK's International associates' EBITDA to SEEK share of profits
Reconciliation of SEEK’s International associates’ EBITDA to SEEK share of profits Bdjobs A, Underlying BDTm at 100% EBITDA Tax & other NPAT Pre-acquisition NPAT (1-Jul-13 - 10-Apr-14) ‘Adjusted NPAT B. SEEK Share & Equity Accounting Related Adjustments SEEK Share of NPAT = NPAT x SEEK share 25% SEE
Slide 76: Appendices: SEEK Education
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Slide 77: SEEK Learning - Detailed Financials & Key Drivers
SEEK Learning - Detailed Financials & Key Drivers P&L Key Drivers A$m FY14 FY15 FY14 FY15 Revenue H1FY14 H2FY14 H1FY15 H2FY15 H1FY14 H2FY14 H1FY15 H2FY15 SEEK Learning AUS 33.1 51.6 40.2 41.0 Leads/enquiries ('000) 168.6 208.6 159.9 = 186.5 DWT 1.8 1.2 - - pcp growth (%] (7%) 6% (5%) (11%) 34.9 52.8
Slide 78: IDP - Detailed Financials & Key Drivers
IDP - Detailed Financials & Key Drivers P&L IELTS Metrics A$m FY14 FY15 Test candidates (# Rev per Test candidate (A$) H1FY14 H2FY14 H1FY15 H2FY15 Revenue IELTS 83.6 92.4 98.4 115.1 toon, “25917 270 Student Placement 28.0 29.3 34.2 35.3 370,262 269 250 249 334,884 241 246 Other 12.4 11.1 13.4 13.5 a
Slide 79: 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 A. Underlying A$m at 100% EBITDA D&A Net Interest Tax NPAT B. SEEK Share & Equity Accounting Related Adjustments SEEK Share of NPAT = Adjusted NPAT x SEEK share SEEK share of NPAT as Reported 79 50% 5
Slide 80: Appendices: SEEK Early Stage
& seek APPENDICES SEEK EARLY STAGE :
Slide 81: Early Stage Employment
Early Stage Employment Building capabilities that complement the online employment marketplace Financials Key Insights Strategic Rationale A$m Growth * SEEK to make equity investments or partnerships SEEK Reported FY15 FY14 % with businesses that possess unique technology or Revenue 2.7 0.9 212% cap
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Slide 84: Reconciliation of SEEK's International associates' EBITDA to SEEK share of profits
Reconciliation of SEEK’s International associates’ E BITDA to SEEK share of profits OAM Babajobs FY15 FY14 FY15 FY14 A. Underlying ZARm at 100% ZARm ZARm A. Underlying INRm at 100% INRm INRm EBITDA (111.1) (62.2) EBITDA (58.8) (24.1) Tax & other 89 22.6 Tax & other (9.5) (0.5) NPAT (102.2) (39.5) NP
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