SEEK (SEK) H2 2025 earnings summary

Executive summary

• Achieved targeted operational and financial outcomes for FY25, with strong execution post-unification and accelerated product innovation, especially in AI and data capabilities.

• Placement share in ANZ increased, with Asia reaching its highest placement share in recent history, supported by double-digit yield growth and new product offerings.

• Maintained market leadership in ANZ and achieved record placement share in Asia, with successful rollout of freemium and variable pricing models.

• Acquisition of Sidekicker expands reach into the on-demand staffing market, contributing to revenue and operational synergies.

• Free cash flow rose 41% year-over-year, enabling a reduction in net debt and supporting dividend payments.

Financial highlights

• Net revenue reached $1,090.4m, up 1% year-over-year; sales revenue $1,097.0m, up 1%.

• EBITDA declined 2% to $459.2m, while free cash flow rose 41% to $202.8m.

• Adjusted profit was $155.2m; statutory profit (including valuation uplift and significant items) was $238.3m.

• Full-year dividend of 46 cps, up 31% year-over-year.

• Total expenditure was $761.1m, down 2%; Capex $129.9m, down 19%.

Outlook and guidance

• FY26 net revenue guidance: $1.15bn–$1.25bn; total expenditure: $810m–$840m; EBITDA: $510m–$550m; Adjusted Profit: $190m–$220m.

• Double-digit revenue growth and 8% total expenditure growth expected, with EBITDA and adjusted profit also rising if market conditions hold.

• Capex to increase for product innovation, AI, data, and trust initiatives; guidance includes a full year of Sidekicker operations.

• Focus shifted from long-term revenue targets to operational metrics: placements, yield, and operating leverage.

• ANZ revenue growth expected to be driven by ~10% yield growth and stable volumes; Asia to see mid-single digit revenue growth.