Enero Group reports 35.5% revenue growth for Q1 FY23

The strong performance was driven predominately by its creative technology segment

Enero Group has reported its Q1 trading update to the ASX for the three months ending on 30 September 2022, headlining a continuation of its sustainable revenue and EBITDA growth with a quarter-on-quarter revenue increase of 35.5% and operating EBITDA rising 30% year-on-year.

Announced at the Group’s annual general meeting, the financial results were driven predominately by a strong performance from its creative technology segment, which includes digital creative agency Orchard and adtech platform OB Media.

The Group also benefited from the recent acquisitions of performance marketing and digital agencies ROI DNA and GetIT, seeing 19.1% revenue growth on a like-for-like basis.

Enero - financial performance
Throughout the quarter, Orchard won the digital creative account for Epson, led a national B2B integrated campaign for the electronics company and launched a new digital transformation experience for Tourism Tasmania, while OB Media continued to deliver outstanding growth from its adtech platform.
Enero Group’s brand transformation segment – which is made up of agencies such as Hotwire, BMF, CPR, ROI DNA and GetIT – also saw a number of new business wins including global and local leaders through its digital transformation capabilities, such as technology consulting services provider Endava, audio company Sennheiser, programmatic OOH company Vistar Media, and user-generated software company Bazaarvoice.
In addition, BMF launched a new campaign for ALDI Australia ‘Special you can Buy’, received industry recognition and invested in new hires to deepen its market leading effectiveness capabilities, world-class creativity, and expand its social and CX offerings.

Enero Group

Pictured left to right: Anol Bhattacharya, Heather Kernahan, Brent Scrimshaw and Matt Quirie

Brent Scrimshaw, Enero Group CEO, said: “Despite the challenging macro conditions globally, we continue to see positive momentum in Q1 FY23, building on our growth story of the past few years.

“We have built a well diversified revenue base across a portfolio of businesses and geographies and continue to invest in critical talent to support our growth ambition and strategic positioning.
“These impressive results reflect our deep and enduring client relationships, strategic focus on market leading capabilities, and strong progress in the integration of recent acquisitions,” he added.

Top image: Brent Scrimshaw

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