Seek Limited · ASX:SEK

Seek — H1 2008 Earnings Presentation

25 slides from Seek's earnings presentation, Feb 19, 2008

  1. Slide 1: SEEK Limited Results Presentation

    For personal use only SEEK Limited Results Presentation 6 months ending 31 December 2007

  2. Slide 2: For personal use only

    For personal use only 2

  3. Slide 3: Consistent Strategy & Effective Execution

    Consistent Strategy & Effective Execution Delivering Results For personal use only Strong Financial Performance H108 Revenue (Excluding interest Income) 43% NPAT 49% Interim dividend of 8.7c declared (fully franked) 45% EPS of 12.5c (Basic) 49% Market Dynamics Structural migration from print to onli

  4. Slide 4: Financial Performance

    Financial Performance For personal use only 4

  5. Slide 5: Strong financial results for H108

    Strong financial results for H108… For personal use only $M Change H1 H1 SEEK LTD 2007 2008 $ % Revenue 70.0 99.9 29.9 42.6% Ç EBITDA 34.6 51.5 16.9 48.8% Ç Associates 0.5 1.2 0.7 140.0% Ç Continued solid PCP growth NPAT 23.9 35.6 11.7 49.0% Ç Growth SEEK LTD H107 H108 % EPS 8.4 12.5 48.8% Ç H1 - In

  6. Slide 6: Continuing the trajectory over the last years

    …continuing the trajectory over the last 5 years… For personal use only H104 H105 H106 H107 H108 $99.9M $70.0M $51.5M $47.4M $35.6M $34.6M $31.4M $23.9M $21.2M $17.5M $14.6M $12.9M $8.9M $5.2M $5.5M Revenue EBITDA NPAT CAGR 55% 78% 60% 6

  7. Slide 7: EBITDA margins continue to grow

    …as EBITDA margins continue to grow… For personal use only EBITDA Margin 51.5% 49.4% 44.9% 41.1% 30.0% H104 H105 H106 H107 H108 7

  8. Slide 8: Continuing to build long term sustainability

    …whilst continuing to build long term sustainability… For personal use only CAPEX SPEND CAPEX SPEND H1 08 H1 07 H1 08 $3.7M $5.4M IT Equipment SAP operational for 6 months SAP Business Benefits: • Greater pricing flexibility • Automated promotion campaigns New office • Greater operational efficiency

  9. Slide 9: H208 Outlook

    H208 Outlook… For personal use only ü Migration of employment advertising from print to online expected to continue Employment market remains strong ü H208 performance to date consistent with our expectations ü Continued expansion of SEEK Learning Anticipate strong top line and bottom line growth fo

  10. Slide 10: Employment Market Dynamics

    Employment Market Dynamics For personal use only 10

  11. Slide 11: Ad volumes continue to migrate from print to online

    For personal use only 11 Seasonally adjusted job ads. (Common Base 100 = Jan 2002) - 50 100 150 200 250 300 350 400 450 Feb-02 Apr-02 Jun-02 Aug-02 Oct-02 Source: ANZ Job Advertisements Series Online Dec-02 Newspaper Feb-03 Apr-03 Jun-03 Aug-03 Oct-03 Dec-03 Feb-04 Apr-04 Jun-04 Aug-04 Oct-04 Dec-04

  12. Slide 12: SEEK leads in unaided awareness

    … and SEEK continues to be the # 1 employment For personal use only website in unaided awareness… Unaided Awareness 45.3% SEEK 44.5% 42.5% 45.7% 39.9% 16.8% 17.6% 15.6% 15.6% CareerOne 13.6% 12.2% 9.5% 9.4% 10.5% 7.3% MyCareer Jul-06 Nov-06 Feb-07 Aug-07 Oct-07 Source : Newspoll Telephone Omnibus 26

  13. Slide 13: Strong lead in the Australian market

    …delivering a strong lead in the Australian market… For personal use only ü 75% of time spent between the 3 major employment sites was on SEEK ü SEEK exclusive audience is 4.8x multiple over MyCareer, and 5.5x multiple over CareerOne ü SEEK ad volume lead remains strong: 2.8x multiple over 2nd place

  14. Slide 14: Strong lead in New Zealand

    … and also in New Zealand … ü For personal use only 62% of time spent between the 3 major employment sites was on SEEK ü SEEK exclusive audience lead is 1.9x over Trademe, and 7.6x over search4jobs ü SEEK ad volume lead remains strong, with 2.8x greater than Search4jobs and 2.3x greater than Trademe

  15. Slide 15: Growth across all key drivers

    …..resulting in growth across all key drivers….. For personal use only Small Medium Enterprise Ç • Continued focus on acquisition and retention Ç • Strong growth opportunities continue Ç Volume Early Stage Markets • All sectors experiencing strong uptake and expected to continue • Continues to be si

  16. Slide 16: Growth

    For personal use only 16 Growth

  17. Slide 17: Focus on key growth drivers remains consistent

    Focus on key growth drivers remains consistent For personal use only EMPLOYMENT Volume Yield Product Expansion LEARNING Acquisitions & Drivers of Future Partnerships Earnings Growth IDP Amadeus OPPORTUNITIES OUTSIDE CORE Zhaopin International Expansion 17

  18. Slide 18: Ad volumes and job seekers increasingly online

    Ad volumes and Job Seekers are found increasingly online with significant revenue headroom remaining For personal use only Online vs. Print (%) Job-Ad Job Seeker Revenue Volume Preferences Share Online 77% 61% 29% Print 23% 39% 71% Note: Job seeker preferences considers online and print methods of f

  19. Slide 19: SEEK Learning growth continues

    SEEK Learning growth continues … For personal use only Strategy Build the first & best place to go for career related education & training 3 New partners signed in the last 6 months Drivers of Growth: Amadeus investment made in October 2007 Acquisitions & Expansion of IT Certifications (Skillsoft) i

  20. Slide 20: Overall learning footprint continues to expand

    … and our overall learning ‘footprint’ continues to expand For personal use only Investee Amadeus Billy Blue (Design) (to be added to SKL William Blue (Hospitality) Providers as appropriate) ACNT (Natural Therapies) APM (Marketing/PR) DWT Domestic Students JNI (Psychology/Counselling) EDUCATION AND

  21. Slide 21: Investment in Amadeus Education

    Our investment in Amadeus Education represents a big step forward in the development of our learning business For personal use only Who is Amadeus? • Education Investment Company focused on growth and development of high quality education enterprises • Bringing together senior executives with extens

  22. Slide 22: IDP delivered a great result

    IDP delivered a great result, and continues to complement the core SEEK Learning business For personal use only Strategy/Opportunity Continued focus on optimising network Driving online strategy Embedded relationships with university sector $M H1 2008 H1 2007 % Growth IDP 100% IDP 100% A strong busi

  23. Slide 23: Zhaopin is increasing market share

    Zhaopin is increasing market share as we continue to assess other international opportunities For personal use only Zhaopin Strategy/Opportunity H1 2008 H1 2007 100% 100% Continue to build brand and increase market share in major regions across Actual Actual China $USD $USD Results EBITDA (7.2) (3.3

  24. Slide 24: In Summary

    In Summary… For personal use only Financial Outstanding results for H108 Employment market expected to remain strong Outlook Strong revenue & profit growth expected to continue Strategy Continued consistent focused strategic agenda Market Migration from print to online Dynamics Strong market leaders

  25. Slide 25: Good things come to those who seek

    For personal use only Good things come to those who seek. SEEK & you shall find seek.com.au

SEEK — H1 2008 Earnings Presentation on 6ix