Enero posts solid full-year results; revenue and profit up
Enero Group has reported an uptick in overall revenue and profit in the 2023 financial year despite a drop in profit for its brand transformation unit, which includes BMF, Hotwire Group, and CPR.
The group’s net revenue saw a 25% lift on the previous corresponding period to $241.6 million.
Enero
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were $78.8 million, a 19.2% increase year-on-year (YoY). The EBITDA margin has a slight dip to 32.6%, down 1.6%.
Its creative technology and data unit outperformed the rest of the business, with revenue up 31% to $113.5 million, thanks to strong growth in performance advertising platform OBMedia. The performance of Orchard is also included in the unit.
The brand transformation unit’s revenue was up 20.1% to $128.2 million. However, the unit’s EBITDA was down 20.5% to $22.1 million in 2023.
The group said it has implemented cost-saving measures in the second half of the financial year.
“Enero’s financial results reflect the continued focus and refinement of our long-term operating strategy and diversified portfolio, as well as the dedication and commitment of our global teams,” said Brent Scrimshaw, Enero Group’s CEO.
The company’s largest share of revenue came from technology and telco clients (42%), followed by digital media (24%) and retail (11%).
The group highlighted that more than 50% of its clients have worked with it for six years or more.
“Enero’s deep and enduring client relationships, world-class talent, and the strategic relevance of our market-leading capabilities underpin our continued business success,” Scrimshaw continued.
The company will pay a fully-franked dividend of 4.5 cents per share.
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Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.
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