Australian holding company Enero Group has reported its H1 FY24 financial results, with overall revenues down 22.4 per cent to $100.4 million and EBITDA falling 48.2 per cent to $44.3 million.

When results were adjusted for the impacts of the group's performance marketing agency OB Media, revenues fell 4.6 per cent fall and EBITDA up 6.3 per cent EBITDA on a like-for-like basis.

Enero Group pointed to a 8 per cent lift in EBITDA to $13.5 million within its Technology, Healthcare and Consumer (THC) practice, which includes Australian-based agencies BMF and Orchard, as well the Hotwire Group. In terms of revenue, the practice saw a 6 per cent decline to $74.8 million.

Enero Group's updated segments - THC Practice and OB Media - reflect Enero's business drivers and operational synergies between the agencies, with 55% of revenue coming from clients who have relationships with more than one THC Practice business.

Enero Group Global CEO, Brent Scrimshaw, said: "Throughout FY24 H1 our Australian-based agencies, BMF and Orchard, continued to prove their ability to drive robust growth in a competitive market, which is a result of our deep-focus and award-winning work in the healthcare and consumer practice.

"Despite a global downturn in the technology industry and ongoing macro-economic headwinds, we remain focused and agile in our approach to navigating the global economic and industry challenges in our technology practice, while continuing to refine our diversified portfolio," said Scrimshaw.

"Globally, the Hotwire Group continues to be at the forefront of tech marketing and artificial intelligence. Recognised as thought leaders at the World Economic Forum's Annual Meeting in Davos, Hotwire's North America CEO, Heather Craft and Continental Europe CEO, Ute Hildebrandt facilitated and interactive session with some of the world's biggest companies and CEOs on AI and its role in brand narratives and creativity."

Enero Group is a specialist portfolio of marketing, technology and communications businesses listed on the ASX (Australian Stock Exchange) that includes creative agency BMF, PR and integrated communications agencies the Hotwire Group (Hotwire, ROI DNA, Get IT), digital and experiential agency Orchard and adtech platform OB Media.

"As we look to H2 of FY24 we continue to be optimistic about the performance of our healthcare and consumer practice in Australia. We are confident that our differentiated suite of marketing services, talent, and industry leading capabilities will deliver world-class outcomes for our stable of blue-chip clients," said Scrimshaw.