SEEK (SEK) H2 2025 earnings summary

Executive summary

• Placement share increased in ANZ and Asia, supported by double-digit yield growth, product innovation, and platform unification, despite macroeconomic headwinds and volume declines.

• Net revenue grew 1% year-over-year to AUD 1,090 million, with operating leverage as revenue growth outpaced cost growth in H2.

• Free cash flow rose 41%, enabling a 31% increase in the full-year dividend and reduction in net debt.

• Acquisition of Sidekicker expanded reach into the ANZ contingent labor market and contributed to revenue and operational synergies.

• Major rollout of freemium and variable pricing models in Asia and ANZ, with new features enhancing personalization and trust.

Financial highlights

• Net revenue: AUD 1,090 million (up 1%); Sales revenue: AUD 1,097 million (up 1%).

• EBITDA: AUD 459 million (down 2%); Adjusted Profit: AUD 155 million (down 13%); Reported Profit: AUD 238 million.

• Free cash flow: AUD 203 million (up 41%); Full-year dividend: AUD 0.46 per share, up 31%.

• Total expenditure: AUD 761 million (down 2%); CapEx: AUD 130 million (down 19%); OpEx: AUD 631 million (up 3%).

• Statutory profit from continuing operations: AUD 238 million; Basic EPS: 68.7 cents.

Outlook and guidance

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

• Double-digit revenue growth and 8% total expenditure growth targeted, with 15% EBITDA and 32% Adjusted Profit growth at midpoint.

• Labour market conditions expected to remain flat to low, with slight unemployment growth in Australia and ongoing uncertainty in Asia.

• Focus on growing placements, yield, and delivering operating leverage; no longer reporting against AUD 2 billion revenue aspiration.

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