SEEK is having a global impact improving people's lives across employment & education. Our Purpose is to help people live more fulfilling and productive working lives and help organisations succeed. Across the SEEK Group, we have relationships with over 700k hirers and 150m candidates.
H1 17 Key Messages
Transaction Update: Zhaopin (NYSE:ZPIN)
- SEEK has formed a consortium with leading private equity firms Hillhouse Capital Group and FountainVest Partners, for the purpose of a potential privatisation of Zhaopin Limited
ANZ Employment: Strong financial results alongside reinvestment for growth
- Strong revenue growth 13% & EBITDA growth of 10%
Zhaopin: Market leader that is delivering strong results
- Strong revenue growth 23% driven by 20% growth in unique hirers
SEEK Asia: Focusing on managing the business for long term growth
- Near term results impacted by weak macro conditions & focused reinvestment
Education: OES continues to perform at a high level & SEEK to launch new education business
- OES achieving great outcomes for students and strong results with EBITDA growth of 21%
- Regulatory changes led to cessation of SEEK Learning VET operations & new education business to be launched
Confirms FY17 guidance at upper end of range alongside reinvestment to support future growth
- Reported NPAT of approximately A$220m (excluding significant items) before deducting investments in early stage growth options of approximately A$25m
- SEEK is focused on investing to solve complex problems for candidates, hirers and students
SEEK is progressing well against its growth horizons
Phase 1 ANZ Online marketplace
- Continued strong revenue and good EBITDA growth especially from non-volume drivers in relatively flat economic conditions is validation of the strength of our ANZ marketplace
- Growth opportunities remain from volume and aligning price with value
Phase 2 International Online marketplace & Education
- SEEK International operates market leading platforms
o International is >50% of SEEK Group EBITDA
o We operate in 4 out of the 6 fastest growing countries by GDP (2030 forecasts)
- Education models across Brazil, Mexico and Malaysia are performing well
- OES is delivering great results with exciting growth options
Phase 3 Talent Sourcing
- ANZ's sustained investment in Talent Sourcing is contributing to strong financial results
- ANZ's IP, strategic roadmap and capabilities are accelerating SEEK International's evolution which is contributing to strong results in operational & competitive metrics
- Across SEEK, large amounts of structured data and insights are being analyzed which will underpin new products & services
Phase 4 Human Capital Management
- Early Stage Ventures are solving complex problems across large and fragmented markets
- No one is as well positioned as SEEK to grow in this space given our world class capabilities, deep knowledge and relationships with 150m candidates and 700k hirers
Supporting SEEK's growth along these four horizons are world class capabilities in product, tech, data analytics and an experienced management team.
Short & Long term outlook
Confirms FY17 NPAT guidance at upper end of range (excluding significant items)
- Reported NPAT of approximately A$220m before deducting investments in early stage growth options of approximately A$25m
- SEEK's focus is to strongly re-invest in its four concurrent phases of growth
o ANZ & International businesses are playing in an addressable market opportunity of A$60b+
- SEEK's re-investment is focused on providing unique solutions to address unmet needs for its candidates, hirers and students across its four growth horizons
o SEEK is uniquely positioned to provide unique solutions through its deep, unique and longstanding relationships and rich data and user insights accumulated over many years
- SEEK's solutions which are either internally built or acquired can be scaled up across a large platform given its relationships with over 700k hirers and 150m candidates
- By investing to address the unmet needs at significant scale in forecast high growth markets, the expectation is that SEEK will generate strong returns to shareholders in the medium to long-term
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About SEEK Limited
The purpose of SEEK Limited (ASX:SEK) (OTCMKTS:SKLTY) is to help people live more fulfilling and productive working lives and help organisations succeed. SEEK makes a positive contribution to people's lives on a global scale.
SEEK is the global leader in the creation and operation of online employment markets. Globally SEEK has relationships with over 700,000 hirers and 150 million candidates.
SEEK makes a positive contribution to people's lives through connecting more people to relevant job opportunities using its marketplace scale and technology to build radically more efficient and effective employment marketplaces.
SEEK is listed on the Australian Securities Exchange, and has been listed in the Top 20 Most Innovative Companies Globally by Forbes, and Number One in Australia.
SEEK has been recognised by AON Hewitt as an Employer of Choice ten years straight and is passionate about it's company's culture. SEEK is a leader in workplace diversity and inclusion.
For 20 years SEEK has been an integral part of Australians' job-search process, and as the country's leading employment marketplace is uniquely positioned to empower Australians with career, education and volunteer opportunities to create productive and fulfilling working lives.