Ian Ball.
Enero Group, the owner of Hotwire, Orchard and BMF, reported a net revenue decline of 3% to $138.7 million in the year to June in a "challenging and changing environment".
The company posted a statutory net loss after tax of $19.3 million but this included the loss from discontinuing operations of $15.2 million, significant restructuring costs of $4.6 million and fair value loss on contingent consideration of $2.1 million.
Enero continues to squeeze costs. Expenses fell 4% compared to the previous year, following a 7% reduction in 2024 financial year, driven by a continuing focus on business efficiency and reduced corporate costs.
The company declared a fully franked dividend of 1.3 cents a share.
CEO Ian Ball, appointed to the top job last month, has repositioned the group to focus on core agencies Hotwire Global, Orchard and BMF.
Ball’s elevation to the top role comes after a series of operational and strategic moves, including the refinancing of the business, the restructuring and sale of OBMedia and senior hires across the group’s agency portfolio.
“Our second half results show the strength of Enero’s portfolio and our ability to adapt to shifting market dynamics,” said Ball, announcing full year results today
“From landmark client wins to world-class recognition, our agencies have proven they can deliver both growth and industry-leading work.”
"As we enter FY26 with a more defined portfolio and an exclusive focus on our award-winning agencies - BMF, Hotwire, ROI·DNA and Orchard - our focus is firmly on building the next chapter of growth for Enero.
“Each agency has strong leadership, vision, capabilities and a track record of delivering outstanding results for clients.
“That focus on differentiation and innovation provides a solid foundation to create long-term value for clients, attract top talent and deliver strong returns for shareholders.”
Revenue at creative agency BMF fell 2% to $34.4 million and EBITDA declined 14% to $6.9 million.
The Westpac win in February 2025 was BMF’s largest in its history and contributed to a strong performance in the half year to June with EBITDA (earnings before interest, tax, depreciation, and amortisation) growing 11% from the first half on flat revenue and improving its margin by 2.1 percentage points, offsetting reduced spend due to the Federal election.
The company said BMF continues to evolve its delivery model, embedding AI and automation to accelerate creativity and improve efficiency.
This momentum continued into the new financial year with BMF winning HCF’s creative account earlier this week.
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