Enero Group Limited has reported its results for the full year ending 30 June 2023. Despite the challenging global macroeconomic environment, Enero’s FY23 results continue to build on its track record of growth, profitability, and portfolio transformation over the past three years. The Group saw revenue increase 25% and EBITDA growth of 19% for the full year.
The global creative technology company’s FY23 results are predominately driven by its people and capability investments in US-based OBMedia, the acquisitions and integration of ROI DNA in North America and GetIT in Asia into the Hotwire Group, and a strong performance from Sydney-based award-winning creative agency BMF.
“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 Chief Executive Officer. “Enero’s deep and enduring client relationships, world-class talent, and the strategic relevance of our market-leading capabilities underpin our continued business success.”
Enero’s two operating segments, Creative Technology and Data (Orchard and OBMedia) and Brand Transformation (BMF, Hotwire Group, and CPR), both increased in net revenue by 31% and 20%, respectively.
In the Creative Technology and Data segment, OBMedia continued to deliver growth through traffic diversification and strategic technology investments. In addition, Orchard delivered a solid full-year performance, highlighted by winning Optimizely’s Asia Pacific Rising Star Solutions Partner of the Year and key client wins including Carslile Homes, BeiGene, Epson, and Janssen.
Enero’s Brand Transformation segment benefited from another impressive performance by creative agency BMF. Throughout the year, BMF further diversified, invested, and grew its customer experience and innovation capabilities, and also by the appointment of former Google Creative Head, Tara McKenty, as its Chief Innovation Officer. BMF continues to dominate the Australian creative landscape, winning three Australian Agency of the Year Awards, two coveted Cannes Lions, D&AD Pencils, LIA Awards, and many more.
Despite a challenged technology sector globally, the Hotwire Group – headquartered in San Francisco – continued to transform its communications consultancy capabilities through its reputation, relationship, and revenue service offering, and added a series of new clients to its roster, such as Sony, ThoughtSpot, Circut, CCC, Vivint Smart Home, Tekion, and Bolt. It also began to leverage Group revenue synergies through the ROI DNA and GetIT acquisitions. Government relations and corporate advisory firm CPR continued to drive transformation, build reputation, and grow brand recognition for its high-profile clients, while promoting, protecting, and positioning their organisations, people, and services.
“We’ve continued to win across the Group, and around the world, which is a great indicator that our transformation strategy is sticky, even in the most challenging times.” Scrimshaw added. “Throughout FY23 we added new and progressive clients across our portfolio including Tennis Australia, Sony, Bolt, Honeywell, Afterpay, Turo, BeiGene, and Janssen. Pleasingly, 31% of our revenue now comes from clients who have relationships with more than one Enero brand, with a great example being the Orchard and BMF joint win in Australia of Clearskin Care Clinic’s digital and creative business.”
“Throughout FY23 we’ve continually sharpened our offering to be the most effective and unique set of modern-marketing services around the world. Given our track record we’re confident we will continue to build momentum in FY24 and beyond, despite the challenging macro-economic conditions.”
Up next: Enero Group announces H1 FY24 financial results as Australian-based agencies BMF and Orchard drive robust growth