Enero has unveiled its end of year results that showed its yearly revenues were up 25 per cent to $129.5 million to the end of June, while overall profit was down from $8.5 million from the year previous to $5.7 million this year.
The Australian-owned Enero is the holding company to agencies that include BMF, The Leading Edge, The Digital Edge, Hotwire PR and Frank PR.
Net revenue was up 24.9 per cent and operating EBITDA was up 53.3 per cent on the prior year. On a like for like basis excluding the impact of acquisitions, revenue was up 14 per cent on the prior year and operating EBITDA was up 38 per cent on the prior year.
International markets represented 54 per cnet of the Group’s net revenue and 61 per cent of the Group’s operating EBITDA.
Operating cash flow for the year was up 27.5 per cent on the prior year to $18.1m and the Group is in a net cash position of $9.5 million as at 30 June 2019.
Enero Group CEO, Matthew Melhuish (main photo) said: “We have delivered an excellent set of results for FY2019 with strong numbers across our key financial metrics in all markets. There is positive momentum in many areas of the Group coming from new business wins and new talent joining the Group. The achievement of 14 per cent organic revenue growth, excluding the impact of acquisitions, demonstrates we can achieve more working together as a Group.
“As we enter a new strategic phase, we have further simplified our outward facing brands but more importantly put more strength and capabilities in the larger businesses. We will continue to build digital and data capabilities and we remain ready to invest further through acquisitions in our international network, particularly in the USA, which has experienced incredible growth this year,” Melhuish said.
