Enero Group reports 19% increase in revenue for H1 2021 Financial Year
Enero Group has reported its half year results for the six months ended 31 December 2020.
The Group’s net revenue was up 19% to A$81 million and operating EBITDA up 129.2% to A$24.3 million on the prior reporting period. Australian operations saw an increased revenue growth of 6.6% and UK and Europe 2%, which was above expected. Revenue for Australian operations in the period was A$32.7 million.
International markets (USA and Europe) represented 60% of the group’s net revenue and 73% of the group’s operating EBITDA. Australia’s revenue contribution to the first half results was down five percentage points on the previous reporting period.
“The group’s exposure to overseas markets continues to provide bigger and more networked client opportunities along with greater margin attainment,” stated the results.
The group’s top 10 clients represent 47% of total revenue, while the top 20 clients represent 55% of total revenue. Clients include Aldi, Adobe, Facebook, Google, Hyundai and McAfee.
Within the group BMF reported new business wins during the period of carsales.com.au, Pacific Smiles and Petbarn. Orchard had new business wins of Val Morgan, Uniting Financial Services and Transport for NSW during the period, while smaller agencies Hotwire, The Leading Edge, Frank and CPR secured new accounts with Cloudflare, Secure Code Warrior and Beam Suntory.
Enero Group CEO, Brent Scrimshaw, said that the results were something “to be proud of” and acknowledge the efforts of the brands and teams during this period.
He added that there were benefits received to operating costs as a result of the ongoing travel restrictions, Australian Government Job Keeper subsidies amounting to $1.1 million received in Australia (limited to specific businesses in group and only available in first quarter of FY2021) and from having strong client sector exposure to technology, healthcare and consumer staples, where activity level remains high.
“These results demonstrate the group’s strategy of integration, transformation and acceleration is working and we will continue to focus on growing our core brands in the second half of the year, building further scale and additional digital capabilities across markets with more integrated services from our complimentary brands,” he said. “We have a proactive M&A strategy in play, however, with ongoing travel restrictions we are stepping through any future opportunities cautiously to ensure the right business and cultural alignment.”
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Olivia Kruimel is the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.
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