Isentia profit drop after King Content challenges, ANZ revenue flat, Asia $ up
"FY17 was a disappointing year with the business performing below expectations"
Isentia yesterday reported its full-year results with revenue of $155.1 million, a decrease of $0.9m year-on-year. It reported EBITDA of $41.5m, a decrease of 19% and a statutory net loss of $13.5m compared with a profit of $24.3m in FY16, largely reflecting the impairment of King Content.
Isentia CEO John Croll said: “FY17 was a disappointing year with the business performing below expectations, particularly at King Content. The board and management remain confident in the market positioning of Isentia and we have implemented initiatives to improve performance across the business. Client retention is strong with stable client numbers in FY17 Q4 and Isentia has delivered a number of product improvements to support its market-leading position.”
Looking to the future, Croll added: "While we are clearly disappointed with the performance of the business during FY17, our priority is to drive shareholder value by leveraging Isentia’s market-leading position in the ANZ and Asian Media Intelligence market."
Isentia’s priorities for FY18 are to:
• Further reduce churn in ANZ through current product enhancements including the rollout of Stories and Mediaportal upgrades
• Drive greater penetration of SaaS into the Asia region through the launch of Mediaportal into all nine Asian countries where Isentia operates
• Implement operating efficiencies through the further implementation of technology to automate our production operations
