Macquarie Conference Presentation Including Guidance Update
Macquarie Conference Presentation Including Guidance Update
Melbourne, April 30, 2019 AEST (ABN Newswire) - SEEK Limited (ASX:SEK) (OTCMKTS:SKLTY) provides the Company's latest presentation at Macquarie Conference.

Short-term guidance: FY19 update

Update since H1 19 results

1. As a recap: we continue to see a slowdown in macro conditions in a number of our key markets which has resulted in an easing of ad volume and billing growth. Our guidance statement below assumes no further material deterioration in macro conditions in H2 19 in any of our key markets

2. Given impact of (a) new education deals; and (b) strong momentum in a number of our existing investments which gives us confidence to invest more aggressively, our expected FY19 losses from Early Stage Ventures (ESVs)(see Note 1 below) has increased above the upper end of previous guidance range of A$40m to A$45m (see below)

FY19 guidance (excluding significant items)(see Note 2-3 below)

- AFFIRM: Revenue growth in the range of 16% to 20%(see Note 4 below) (FY19 vs FY18)

- AFFIRM: EBITDA growth in the range of 5% to 8%(see Note 4 below) (FY19 vs FY18)

- UPDATED: Investments in ESVs now to be approximately A$45m to A$50m

- UPDATED: Reported NPAT (including losses from investments in ESVs) to be moderately below FY18 Reported

NPAT primarily due to the increased level of investment in ESVs and associated transaction funding costs

Notes:

1 Refers to "AP&A - Other Businesses" and "SEEK Investments ESVs".

2 Forecasting is challenging given exposure to different FX rates across multiple markets

3 FY18 financials referred to in the guidance statement are under an IFRS 15 restated basis: Revenue A$1,299.5m, EBITDA A$431.2m and Reported NPAT (including ESV losses) of A$199.3m

4 Includes consolidated early stage investments

To view the full presentation, please visit:
http://abnnewswire.net/lnk/202EW3K9


About SEEK Limited

SEEK Limited (ASX:SEK) (OTCMKTS:SKLTY) is a diverse group of companies, comprised of a strong portfolio of online employment, educational, commercial and volunteer businesses. SEEK operates across 18 countries with exposure to over 2.9 billion people and approximately 26 per cent of GDP. SEEK makes a positive contribution to people's lives on a global scale. SEEK is listed on the Australian Securities Exchange, where it is a top 100 company with a market capitalisation close to A$6billion and has been listed in the Top 20 Most Innovative Companies Globally by Forbes, and Number One in Australia.

      


Contact

Investors & Analysts
Steven Moran
SEEK Limited
T: +61-3-8517-4484

Media
Sarah Macartney
SEEK Limited
T: +61-3-8306-0850
M: +61-433-949-639



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