Enero Group has sold its 51% stake in AdTech business OBMedia to the existing 49% minority shareholders.
Ian Ball, Enero Group’s Chief Operating Officer, said: “This divestment supports our strategy to focus on our award-winning agencies where we see the greatest potential for growth, differentiation, and value creation.
“Enero is proud to be home to three specialist, high-performing, profitable agencies: Hotwire Global, BMF and Orchard. Each agency has strong leadership, a distinct value proposition and a consistent track record of delivering world-class results for clients.
“With a more defined portfolio, and an exclusive focus on building each of our agencies, we’re now committed to building the next chapter of growth, driving outstanding results for clients, attracting top talent, and delivering strong returns for shareholders.
“We believe we have the right platform and portfolio in place to do just that. As reflected in the positive FY25 Results, we are pleased that our agencies continue to deliver innovative, world-class work and meaningful outcomes for clients, providing a solid foundation to capitalise on future growth opportunities,” Ball added.
Earlier in the year, Enero Group reported a 52% drop in net profit after tax for the first half of FY25, alongside a 12% decline in revenue and a 31.5% fall in EBITDA. At the time, the company attributed its weak performance to macroeconomic pressures and challenges in the technology and AdTech sectors, which have weighed heavily on its financials.
Despite reducing overall expenses by 6% year-on-year, the company posted a net loss of $800,000, impacted by $2.6 million in restructuring costs and $1.4 million in value markdowns. Enero’s shares fell by 7% within the first hour of trading following the results announcement.
But there have been many highs for the Group with agency BMF winning the Westpac creative account and taking home Spikes Asia’s Creative Effectiveness Grand Prix Award.
Marketing agency Orchard was appointed the digital agency of record for Royal Agricultural Society, while Hotwire has deepened its global integration with ROI·DNA, secured a string of new client partnerships and continued to build on its reputation for tech-fuelled communications and marketing.
Top image: Ian Ball