September 24, 2021

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Hotwire owner Enero reports 14% rise in full-year organic revenue | PR – Campaign Asia-Pacific

Net revenue at the Australia-based Enero Group rose 18.3 per cent to A$160.6m and operating EBITDA.......

Net revenue at the Australia-based Enero Group rose 18.3 per cent to A$160.6m and operating EBITDA grew 87.1 per cent to A$45.6m. Underlying net profit after tax was A$22.8m, up 76.7 per cent on the prior year.

The firm said Hotwire recorded “positive momentum with key client wins and organic growth in [its] existing strong technology client base”.

Enero, which hired chief executive Brent Scrimshaw on 1 July 2020, said it achieved “strong results across all three geographic regions”.

Its UK/Europe operations recorded a 5.8 per cent fall in net revenue, attributed to currency headwinds and the sale of Frank PR via an MBO. Adjusting for the Frank sale, and the contribution from McDonald Butler Associates – the UK b2b sales and marketing agency acquired in April 2021 – net revenue growth in the region on a constant currency basis was 7.5 per cent. Operating EBITDA grew 33 per cent, with Enero citing “stable expenses due to COVID-19-related discretionary cost savings”.

In the US it delivered a 52 per cent increase in net revenue and a 146 per cent rise in operating EBITDA. Enero said the global acceleration in technology adoption and industry transformation provided a strong benefit to the US business.

Hotwire’s “solid” performance in the US was “supported by its strong technology client base, and COVID-19-related operational savings”. “The business invested in its strategy and digital skillsets to enhance its integrated solutions for clients, finishing the year with pleasing momentum in new client wins …….

Source: https://www.campaignasia.com/article/hotwire-owner-enero-reports-14-rise-in-full-year-organic-revenue/471975