Enero Group momentum continues to build with H1 revenue growth of +15.1% and EBITDA of +23.3%

Enero Group Limited (ASX: EGG) today reported a trading update for the six months ended 31 December 2021, highlighting an impressive FY22 H1 net revenue growth of 15.1%, to $93.2 million and operating EBITDA growth of 23.3% to $29.9 million.

The latest financial results for the Enero Group are primarily driven by strong performances across its portfolio in the US, UK, and Australia, which includes creative agency BMF; digital agency Orchard; brand, marketing, and communications consultancy Hotwire; programmatic and marketing platform OBMedia; issues management and communications advisory CPR; and strategic consultancies The Leading Edge and The Digital Edge.

Enero Group Chief Executive Officer, Brent Scrimshaw, said: “Our first half financial results continue to show the impressive growth trajectory the Group has delivered over the past few years, which is a testament to our new operating framework, strong enduring client relationships, and our relentless focus and investment in people and technology.

“These results don’t just demonstrate great financial momentum but our ability to create a progressive home for world class talent with the addition of key hires in the USA at OB Media and Hotwire, and in Australia at Orchard and BMF. Our NPS scores continue to grow, despite the challenges of a highly competitive hiring environment, which reflects our commitment to our team and a high-performance culture. Great industry talent wants to come and work within our group and that’s a competitive advantage we’re truly proud of.”

“We’ve also seen our world-class creativity recognised on the global stage with numerous awards, most recently for creative agency BMF which was named the most effective creative agency in Australia and number three in the world, by one of the most prestigious global rankings, WARC’s Effective 100.

“As we look to the future, our strategic focus remains on accelerating our growth trajectory, innovating within our priority verticals of technology, healthcare and consumer, and realising our strong pipeline of M&A opportunities.” Scrimshaw added.

Enero Group’s financial results highlight the benefits of the successful FY21 acquisition of B2B sales and marketing firm McDonald Butler and its integration into Hotwire UK.

In addition, it shows OBMedia’s ongoing benefit from a structural shift in consumer behaviour to digital channels, BMF’s growth from its exposure to the consumer and government sectors, and Orchard’s organic expansion from its healthcare client base.  

Client wins across the group included globally renowned brands such as Tourism Tasmania, Peloton, Sage and SoundHound.

Enero’s underlying results (excluding significant times) ²

($M)FY22 H1FY21 H1% Change
Net Revenue93.281.015.1%
Operating EBITDA¹29.924.323.3%
Operating EBITDA margin32.1%30.0%210bps
Net profit after tax attributable to equity holders13.713.33.3%
Earnings per share (EPS)15.7 cents15.4 cents2.0%

The promising FY22 H1 results follow the recent Q1 FY22 financial results announcement, where the Group reported net revenue year-on-year increase of 22.6% and operating EBITDA increase of 50%, continuing the global creative technology company’s sustained growth momentum.

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