Enero flying: Brent Scrimshaw overhaul sees revenue, earnings pump continue

News 20 Oct 2022 - 1 min read

Enero flying: Brent Scrimshaw overhaul sees revenue, earnings pump continue

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Tags: Enero

Australia-based holdco Enero, owner of creative shop BMF, has bucked economic headwinds to continue its resurgence under former Nike exec Brent Scrimshaw, who says the outlook still looks good despite choppier economic waters.

Australia-based holdco Enero, owner of creative shop BMF, has bucked economic headwinds to continue its resurgence under former Nike exec Brent Scrimshaw. US operations powered a big chunk of Q1 growth, with revenue up 35.5 per cent on the prior quarter and annual pre-tax earnings hitting 30 per cent year on year.

B2B business and creative technology units also added to top and bottom line growth alongside a revenue boost from recent acquisitions.

The results – revenue of $61.8m, Ebitda of $19.2m – follow Enero’s best annual growth rates in its history, with Scrimshaw telling Mi3 at in August that the next 12 months will be about bedding in its new buys, B2B sales and marketing agency ROI DNA and Singapore-based B2B tech marketing agency, GetIt, to build stronger future earnings via cross-selling services.

Without the acquisitions, revenue would have been up 19.1 per cent like for like.

“Despite the challenging macro conditions globally, we continue to see positive momentum in Q1 FY23,” said Scrimshaw. “We have built a well-diversified revenue base across a portfolio of businesses and geographies and continue to invest in critical talent to support our growth ambition.”