Enero Group lists 6% EBITDA increase for H1 FY24
Brent Scrimshaw: "As we look to H2 of FY24 we continue to be optimistic about the performance of our healthcare and consumer practice in Australia."
Enero Group has listed its H1 FY24 results, flagging its Australian-based agencies BMF and Orchard as drivers of revenue growth. The marketing services company reported that in the six months ended 31 December 2023, its revenue has grown by 48% over the last four years.
In the half, the Group increased its EBITDA (earnings before interest, taxes, depreciation, and amortisation) by 6% on a like-for-like basis.
Its newly defined segment, technology, healthcare, and consumer (THC) practice, which includes agencies the Hotwire Group, Orchard, and BMF, delivered EBITDA growth of 8%.
Enero Group’s updated segments, THC Practice and OBMedia, saw 55% of revenue coming from clients who have relationships with more than one THC Practice business.
Enero Group global chief executive officer, Brent Scrimshaw, said: “Throughout FY24 H1 our Australian-based agencies, BMF and Orchard, continued to prove their ability to drive robust growth in a competitive market, which is a result of our deep-focus and award-winning work in the healthcare and consumer practice."
Despite a global downturn in tech and ongoing macro-economic headwinds, Scrimshaw stated the Group will "remain focused and agile" in its approach, "navigating the global economic and industry challenges in our technology practice, while continuing to refine our diversified portfolio."
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Scrimshaw continued: “Globally, the Hotwire Group continues to be at the forefront of tech marketing and artificial intelligence.
"Recognised as thought leaders at the World Economic Forum’s Annual Meeting in Davos, Hotwire’s North America CEO, Heather Craft and Continental Europe CEO, Ute Hildebrandt facilitated and interactive session with some of the world’s biggest companies and CEOs on AI and its role in brand narratives and creativity.
“As we look to H2 of FY24 we continue to be optimistic about the performance of our healthcare and consumer practice in Australia.
"We are confident that our differentiated suite of marketing services, talent, and industry leading capabilities will deliver world-class outcomes for our stable of blue-chip clients.”
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Top Image: Brent Scrimshaw
