Enero Group posts net revenue decrease, Melhuish stresses turnaround ‘by no means finished’
The Enero Group has posted a six per cent decrease in net revenue from $29.5m to $27.9m for the September quarter year-on-year, but CEO Matthew Melhuish has told the holding group’s annual general meeting its “turn-around journey” is “by no means finished”.
However, the group’s EBITDA – earnings before interest, depreciation, taxation and amortisation – rose 26 per cent in the September quarter compared to the same quarter last year from $1.5m to $1.9m.
The results – which are the first for the 2014/2015 financial year, follow the group posting a five per cent decrease in net revenue from $127.3m to $119.5m in its 2014 financial year results and a loss of $1.453m.
At the group’s annual general meeting yesterday Melhuish said the financial year marked an “important milestone” in the company’s “turn-around journey” but that they are “by no means finished”.
“We are very pleased with the improved financial performance during the 2014 financial year. At the beginning of the year we set out to improve the earnings margin generated from our revenue and run our businesses better from the baseline. To that end we have delivered an increase in Operating EBITDA margin from 2.8 per cent in FY2013 to 7.5 per cent in FY2014.
Melhuish continued: “Our companies continue to deliver world-class work for our clients day-in, day-out to help them solve their marketing and business problems. Looking forward, the 11 operating brands of Enero are very well placed to capture the ever growing revenues from digital, social, data driven and mobile campaigns.”
Working through the companies part of the Enero Group, Melhuish said Named Communications has “transformed” over the last year “to become a better aligned and resourced global boutique agency group.
“The strategic DNA and focus on behaviour change that has always been a hallmark of Naked will remain, however, adding high calibre creative talent, a focus on CRM and Data analytics, and improved production capabilities is putting Naked back at the forefront of creating disruptive marketing solutions for clients.”
He also cited Naked’s recent win of a Cannes Chimera for the second year running.
“While awards recognition is terrific and does drive industry PR and inbound new business enquiry, the greatest compliment our teams can be paid comes from the organic growth of long standing client relationships and the positive referral that comes with it,” Melhuish said.
“I am delighted to say that across the group we have many positive, deep and productive client relationships and we cherish every one of them. We are always conscious that we are only successful if our clients are successful.”
On BMF, he said the agency has “a renewed sense of energy” and consistently delivers “an excellent creative product”.
“BMF remains one of the top leading creative agencies in Australia with strong momentum, a world-class reputation and a blue chip client list,” he said.
Last month saw BMF’s Melbourne office folded into Naked, with Tom Ward to head the agency.
Miranda Ward
Miranda Ward worked for Mumbrella from 2013 to 2017, eventually becoming deputy editor. Miranda joined Mumbrella in September 2013 from Sky News.
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Hi
Hope the turn around hasn’t finished – just checking in to see it’s actually begun.
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