Enero Group’s revenue and profit climb, despite small slump in Australia

Enero Group – which houses agencies including BMF, Hotwire and Orchard – has seen its revenue climb 16.83% for the 2020 financial year to $268.7m. Net revenue was $135.8m, up 4.9%.

The Group said the positive performance was largely driven by the US performance of Hotwire, Orchard and OB Media, as Australian revenue was down 2.3% from $60m last year to $58.6m this financial year.

International markets contributed 57% of the Group’s net revenue (up from 55% last year) and 62% of the Group’s operating earnings before interest, tax, depreciation and amortisation (EBITDA).

Enero’s performance by region [Click to enlarge]

Key clients include Aldi, Hyundai, Zoom, McAfee, Facebook, Adobe and the Australian Government.

Where Enero got its revenue [Click to enlarge]

Net profit before significant items was $12.9m, up from $12.1m last year, a climb of 6.6%. Its statutory results show that after significant items, the profit was up 89.14% from $5.7m to $10.7m.

Enero’s financial performance [Click to enlarge]

In 2020, Enero spent $3.7m on employee benefits, down from $4.2m last year. Overall staff costs, however, were up from $88.1m to $93.6m.

Enero Group chair Ann Sherry said the group delivered an outstanding result, particularly given the economic circumstances in the latter half of the financial year.

“All of our markets were impacted by COVID-19, however everyone who works in our businesses showed great spirit, flexibility and resilience adjusting to new ways of working, along with taking care of each other and their clients,” she said. She added that the group is in a strong position to drive further growth in the 2021 financial year, despite the ongoing health and economic uncertainties.

Detailed performance [Click to enlarge]

New CEO Brent Scrimshaw

“Whilst only a few weeks into my role, I have been impressed with the Group’s innovation agenda and the outstanding quality of the team,” he said. “Enero is now in a strong financial position to accelerate our momentum and create the next chapter of growth through some of the best-performing brands in the market in Australia, UK, Europe and the USA. I will be working with the teams to bring new capability to our existing Group offering and investing in the expansion of our network in the coming year.”

Towards the end of the 2019 financial year, Enero folded Naked Communications into BMF, and Precinct into Hotwire.


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