Thank you for standing by and welcome to the Enero Group Limited FY2024 Half-Yearly Results Investor webcast. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Brent Scrimshaw, CEO. Please go ahead. Thank you and good morning for joining Carla Webb-Sear, our CFO, and myself for the Enero Group Half-Year 2024 Results Conference call. I'd like to begin by acknowledging the traditional custodians of the land on which we work, the Gadigal people of the Eora Nation, and pay our respects to their elders past, present, and emerging. The agenda for today's call is outlined on slide two. I'll first provide an overview of Enero's H1 business performance highlights, key drivers, and metrics. Carla will then take you through the group financials, and I'll then provide some insight into the continued evolution of our strategy and, of course, our progress against it along with a trading update. We then look forward to taking your questions at the conclusion of this morning's presentation. Starting with business performance and turning to slide four. For this reporting period, we've added a like-for-like comparison of prior year, which excludes the contribution of OBMedia traffic that you'll remember was proactively halted in Q4 of FY2023 to ensure a continued focus on quality. Business comparison on a like-for-like basis provides a more accurate view of the performance of the Enero Group for the first half. In FY2024 H1, macroeconomic and geopolitical challenges continue to impact the world and, of course, in turn, the marketing services industry globally. Now, as a recognized leader working with many globally scaled clients, of course, Enero was not immune to this turbulence in some of our markets around the world. Despite a significant drop in consumer sentiment here in Australia, I'm really pleased to report that our agency businesses here have once again proven their resilience and delivered a strong performance for H1. On the other hand, our international businesses have continued to experience some headwinds through delayed campaigns or project scope reductions as many of our technology sector-specific clients continue to work through reorganisations. On a more positive note, more recently, the technology sector, of course, as you'll all be aware, has been fuelled by optimism around the possibilities and the emergence of artificial intelligence. Despite this, Enero Group delivered AUD 100.4 million in net revenue, a decrease of 5% on a like-for-like basis. However, pleasingly, EBITDA grew 6% on a like-for-like basis to AUD 23 million, while net profit after tax, reflecting Enero's 51% of OBMedia, grew 17% driven by stronger earnings in wholly owned agencies together with lower profits in non-wholly owned OBMedia. The group delivered AUD 16.9 million in free cash flow, an increase of over 700% reflecting strong cash conversion. The strong cash flow allowed us to settle our contingent consideration fully with cash and continue our share buyback throughout the half. The board has declared an interim dividend of AUD 0.03 per share, fully franked, representing a payout ratio of 41% compared to 40% in FY2023 H1. Turning to slide five, which focuses on Enero's financial highlights on an economic interest basis reflecting our 51% ownership of OBMedia. On this basis, while revenue decreased by 5%, EBITDA grew 14% on a like-for-like basis, which is a strong outcome given some of the challenging market conditions I've already referenced earlier. Slide six shows Enero's new segments for FY2024, which we believe better reflect our business drivers and, importantly, our operating synergy. Our two new segments are one, OBMedia and two, Enero's technology, healthcare, and consumer practice, which now represents our agency businesses worldwide. With the strategic review of OBMedia well underway, it's also prudent to ensure OBMedia is represented in its own segment. And Orchard has moved to join our agency group in brand transformation to form a newly named segment that represents our future strategic focus, namely the technology, healthcare, and consumer practice. This change better reflects Enero's operational strategy, business synergy, as I mentioned, and, of course, our commitment to delivering a world-class end-to-end integrated offering of progressive marketing services for our clients. It also provides further opportunity to build on our deep specialism and expertise in the industries of growth and scale that we've prioritized. On slide seven, we show the performance of the technology, healthcare, and consumer practice. Revenue declined 6% to AUD 74.8 million, reflecting that softer technology market in the U.S., which impacted the Hotwire Group along with the divestment of government relations advisory firm CPR. Our Australian-based agencies, BMF and Orchard in particular, delivered robust revenue growth in our healthcare and consumer practices. Pleasingly, this practice delivered strong EBITDA growth of 8% to AUD 13.5 million, with EBITDA margins expanding 2.3 percentage points to 18% in line with our target range. The strong profit growth was in part driven by our FY 2023 cost reduction program, positively impacting our H1 results as planned. Now, on the right-hand side of this slide, we've highlighted a number of strong results in our agency practice over the last six months. Hotwire has continued to grow and monetize its data and analytics offerings and also won Telstra Global as a new client from our Singapore office. BMF delivered its first innovation product sprint offering at this year's record-breaking Australian Open with new client Tennis Australia. I'm also pleased to announce today that BMF was recently appointed by the federal government's Department of Health to deliver two multi-year national behavior change campaigns beginning in H2 of 2024. Orchard continued its rebound and evolved its service offerings in the healthcare category, increasing its share of work in medical education, a rapidly growing area of pharmaceutical spend. Orchard also won the Prime Awards for marketing innovation with Sanofi Specialty Care. On the consumer side of its business, Orchard continued to build on its unique digital transformation capabilities and was appointed by Beyond Bank to deliver their digital transformation work. Slide eight demonstrates the diversification of our revenue in the technology, healthcare, and consumer practice across both industries and geographies and, of course, the multiple touchpoints we now have with many of our major clients. Revenue continues to reflect our strategic focus and is well diversified by industry with the largest category of technology. Now, in technology, as you'll recall, we're largely operating the B2B segment through the Hotwire Group and its reputation, relationship, and revenue service offering to capture client investment in cloud, cybersecurity, and more recently, the rapidly growing semiconductor industry, amongst others. Geographically, our practices are well positioned with opportunity at scale across our key markets of the United States, Asia Pacific, and the U.K. and Europe, with over 55% of the business revenue derived now outside of Australia. Our agency business model has a healthy mix of retainers and projects, with 48% of our revenue in the half derived from fixed retainers. Our focus on diversified revenue with maximum synergy continues to deliver results, with 55% of revenue derived from clients who have group relationships with more than one Enero brand or country. Moving to slide nine and creating world-class and award-winning work for our clients not only drives our business performance but, of course, as we know, it also attracts amazing people. Throughout the half, we continued to add a number of blue-chip brands to our client roster across the agency portfolio, including HubSpot, Sobi, and Stan. We've also significantly expanded our services with clients Elasticsearch and, most notably, now serving world-leading cybersecurity business Palo Alto Networks in multiple regions around the world. In slide 10, we show the performance of OBMedia. OBMedia revenue increased 1% on a like-for-like basis to AUD 25.6 million, with revenue performance impacted by market-wide pressure on rates. EBITDA declined 7% on a like-for-like basis to AUD 13.9 million, reflecting ongoing investment in its technology stack and inflation of technology costs to serve. This result also reflects lower incentives based on the performance of the business. During the half, OBMedia launched its related search for content, or RSOC, Feed, Expanded NEMO, its proprietary media buying and optimization platform, and continued to enhance its compliance and anti-fraud capabilities. With that overview complete, I'll turn to Carla to run us through the group financials. Thanks, Brent, and thank you, everyone, for joining our results call today. I'll begin with statutory profit and loss on slide 12. It's worth noting that OBMedia, for which Enero Group holds a 51% interest, is consolidated at 100% on this slide. Enero Group delivered net revenue of AUD 100.4 million, a decrease of 22% with FY2024 H1 reflecting the rebased OBMedia business. Staff costs of AUD 67.4 million represented a staff ratio of 67%, an increase from 58% in FY2023 H1 driven by OBMedia with our agencies delivering improved staff ratios. The operating cost ratio was 10% compared to 8% in FY2023 H1, with the ratio again impacted by OBMedia. The group continued to focus on containing discretionary spend during the half, which offset some of the inflationary pressures. EBITDA of AUD 23 million decreased 48% year-on-year. Depreciation and amortization predominantly increased due to the amortization of customer relationships relating to ROI·DNA and GetIT acquisitions, not being recognized until FY2023 H2 due to the timing of when we completed our purchase accounting. Reduction in net finance costs reflect lower present value interest unwind relating to contingent consideration payables and lower level of debt due to repayments made in FY2023. Our effective tax rate of 29% is higher than the prior year of 24%, largely due to the prior year tax adjustments. Excluding these adjustments, our effective tax rate was 25%. The other impact on our tax rate was a change in profit mix between different U.S. states and different countries, resulting in a higher tax rate. Non-controlling interests of AUD 5.1 million decreased from AUD 14.5 million in the prior year, reflecting minority interests associated with OBMedia. Net profit after tax before significant items to equity owners was AUD 6.7 million, a decrease of 55% year-on-year. Enero recognised a statutory loss of AUD 12.3 million due to the significant items of AUD 19.1 million. Turning to slide 13, we have outlined the details of the significant items. The impairment losses of AUD 25.3 million are non-cash and relate to ROI·DNA and GetIT goodwill and an onerous lease relating to the disposal of CPR. The challenging macroeconomic conditions in the technology sector have impacted near-term performance of ROI·DNA and GetIT and resulted in an impairment assessment for both in this reporting period. The recent performance and uncertainty around timing of improved market conditions has resulted in lower earnings estimations over the earn-out period, and a reduction in contingent consideration payable has been reflected in the AUD 8.8 million fair value adjustment in FY2024 H1. The disposal of the CPR business resulted in a loss on sale of the business of AUD 2.2 million, with restructuring costs predominantly in CPR and OBMedia in FY2024 H1 and in Hotwire Group and Orchard in FY2023 H1. Turning to slide 14, Enero has continued its ongoing focus on cost management in the half, resulting in a 9% decline in costs and 11% decline on a constant currency basis. The technology, healthcare, and consumer practice delivered a 9% cost reduction, with initiatives in the prior year flowing through, allowing the segment to make investment in strategically important areas while delivering its target margin of 18% in challenging market conditions. OBMedia delivered a 1% cost reduction driven by savings relating to traffic that was proactively held in FY2023 Q4, largely offset by continued investment in tech and data capabilities and cost inflation, particularly in technology costs. We also continue to carefully manage corporate costs, now representing 4.4% of the group's net revenue on an economic basis, down from 4.7% in FY2023 H1. The half saw a AUD 1.6 million reduction in corporate costs to AUD 4.4 million, including a AUD 0.4 million reduction in non-cash equity incentives. With the current economic environment, our proactive cost management program continues in FY2024 H2, with staff accounting for 87% of our cost base. Turning to Enero's cash flow on slide 15, cash conversion was pleasingly 108% of EBITDA as compared to 74% in the prior year. Operating cash flow of AUD 20.1 million was a strong increase from AUD 5.5 million in FY2023 H1, and net interest payments have reduced to AUD 0.4 million from AUD 0.8 million relating to lower levels of debt. Tax payments made in all jurisdictions totaled AUD 4.3 million, with a decrease coming predominantly from the U.S., Australia, and U.K. After cash-funded CapEx and lease payments, free cash flow was AUD 16.9 million. Net investment in businesses of AUD 3.8 million related to installment payments of contingent consideration for MBA and ROI·DNA. Turning to slide 16, Enero's strong balance sheet underpins our ability to deliver growth and manage headwinds. Our cash position of AUD 54.5 million reflects our strong operating cash flows with a net cash position of AUD 27.4 million, increased from AUD 13 million at June 2023. The group retains AUD 41 million of undrawn loan facilities at the reporting date. The contingent consideration balance of AUD 18.1 million has a maturity profile over FY2025 to FY2026. We remain very comfortable that our balance sheet retains flexibility to pursue Enero Group's growth ambitions. Slide 17 emphasizes that we are continuing to optimize our capital position. Enero is maintaining its financial flexibility with adequate net cash reserves of AUD 27.4 million at balance date and zero leverage. Reflecting the company's financial performance in FY2024 H1 and strong balance sheet, the board declared a fully franked dividend of AUD 0.03 per share payable in April, representing a 41% dividend payout ratio, as Brent mentioned. I also wanted to note that as the majority of our operations are outside of Australia, our franking credit balance at 31 December 2023 of AUD 3.6 million decreased from AUD 5.2 million at 30 June 2023. Enero has continued its on-market share buyback during FY2024 H1 and has bought back a total of 1.4 million shares as of 28 February. The timing and actual number of shares purchased under the buyback will depend on the prevailing share price, business, and market conditions, and we continue to look to purchase the maximum the market will allow. I will now hand back to Brent to provide an update on the company's growth strategy and our trading update for half two. Thanks, Carla. Everyone turning now to slide 19 with a high-level overview of Enero's operating strategy. Enero will continue to serve the business, transformation, and creative needs of clients globally, and this continues to represent significant incremental market opportunity. With a clear focus on long-term growth segments, our brands continue to build deep industry expertise and are well positioned within each of those growth segments as we continue to refine our offering with modern capability. Underpinning our commercial strategy is, of course, the creativity, the leadership, deep category expertise, and the resilience of our amazing people, all bonded together through our strong performance-oriented culture. On slide 20, you'll see FY 2024 represents a pivotal year in Enero's transformation journey. We've focused our efforts on delivering on four key strategic priorities this fiscal year: enhancing our core agency businesses, completing the optimization of our portfolio, and scaling our tech and AI capabilities. Lastly, in healthcare, I'm pleased to report today that we're in the final stages of completing a strategic partnership agreement with the world's leading healthcare marketing services network, an extremely positive reflection of our cutting-edge healthcare credentials. We'll have more to announce on this over the coming few weeks. Today, as I mentioned, I'm going to provide a deeper look into two of these priorities: our portfolio optimization and our AI thought leadership and tech capability development. If you move to slide 21, in H1, we continue to streamline our portfolio with the divestment of government relations and corporate advisory firm CPR. In August, we initiated our strategic review of the OBMedia business, working with our advisory partners both here in Australia and in the United States Citigroup. Together with the Enero board, we evaluated a number of potential scenarios in order to maximize shareholder value. The outcome of this body of work was to action a competitive sale process for Enero's 51% stake in OBMedia. Our process continues to progress well, with a short list of interested parties currently reviewing a detailed confidential information memorandum and a deadline for non-binding indicative offers due on March 25th. On slide 22, Hotwire continues to build its positioning with clients as a trusted advisor on AI and the impact and opportunity that AI represents, most importantly for our clients' brands. This was recently showcased working together with SAP and in partnership with the House of Beautiful Business at the World Economic Forum in Davos earlier this month, where Hotwire presented its Brands in the Age of AI whitepaper to more than 120 influential leaders from the world's largest and, of course, the most influential companies. Lastly, it's important to note that we continue to accelerate Enero's offshore technology development hub, delivering lower cost and high-quality talent to drive efficiency and, of course, also to access hard-to-find talent to serve multiple Enero Group businesses. Excuse me. Turning now to slide 23, where I can now provide you with a trading update. Enero's Australian agencies continue to perform well in January while international market conditions remain challenging. Australian agencies BMF and Orchard delivered strong revenue growth in January, up 20% year-over-year, benefiting from favorable timing of projects and soft performance in January 2023. Hotwire Group declined 4% year-over-year. That's 9% year-over-year in constant currency in January and continues to be impacted by a challenging international technology industry. Enero remains, of course, focused on proactively managing its cost base given some of these ongoing challenges. OBMedia continues to be impacted by market-wide pressure in January, and our strategic review, as I just mentioned, is progressing with indicative offers now due on March 25th, 2024. Share buyback will recommence from today. So moving to slide 24 and in conclusion of today's session, I'd like to highlight the strong foundation we've built over the past few years to position the Enero Group for future success and, importantly, to capitalize on the return of a more robust global technology market. We've built growing momentum in the Australian agency businesses. We've built a competitively differentiated offering in global technology marketing services, and we remain ready to capitalize on the tech market rebound. We've demonstrated the track record of cost discipline while navigating challenging macroeconomics. There is near-term opportunity to simplify the portfolio and focus on a unified global agency strategy. And, of course, we have capital flexibility to pursue growth opportunities into the future while delivering shareholder returns. So given these strong fundamentals, we're confident that Enero is better positioned than ever to create a globally scaled and differentiated marketing services business. That concludes this morning's presentation. I'd like to thank you all for your attention. Of course, as usual, Carla and I would be pleased to answer any questions that you might have, so I'll hand it now back to the operator for Q&A. Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up the handset to ask your question. Your first question comes from Nick Wilson from Evans & Partners. Please go ahead. Hi, Carla. Brent, can you hear me? Yep. How are you? Yeah, very good. Good result today. Yeah, thanks very much. The improved disclosure. Just could you refresh us on the comps that Hotwire are cycling early last year compared to, obviously, the Australian agencies cycling some weak comps? Yeah, just what the Hotwire comps look like. Hotwire was coming off a stronger base last year, so it is a slightly different dynamic to the Australian businesses. But I don't think we disclosed individual performance for the Hotwire Group this time last year. No, we didn't. But hopefully, across that commentary for the agency business, it gives you a feel because you've seen, obviously, the performance that's come through for the half, and January is more of a consistency of that performance. Sure. I'll go back in the queue, and I'll come back and do any other, just answer the question. Thank you. Once again, if you wish to ask a question, please press star one on your telephone. We'll pause a moment to allow for any final questions to register. Thank you. We have a question from Tim McArthur from Asymmetric Asset Management. Please go ahead. Morning, Brent. Morning, Carla. How are you both? Hi, Tim. Good, thanks. That's good. Just great to see OBMedia split out in the operating segments. Just wondered if you could give us a bit of a feel for what allocation of depreciation and amortization and also corporate costs we could sort of allocate between the two divisions now that you've split them out the way you have, please? Tim, that isn't something that we've currently disclosed and separated, so we don't do that exercise at this point. Obviously, you can see in our half-year results, we've got corporate costs that go across the segment. That isn't something that we've done an exercise on at this time. That was the corporate cost question. Just remind me, what was your first question other than corporate costs? Yeah, the other part of the question was just sort of allocating depreciation of plant and equipment and right-of-use assets between the two operating segments. There is very minimal, if not something that's rounding, for OBMedia when it comes to those two categories. They sit in a remote business, so they don't have any leasing, so there's no right-of-use asset. The amortization is also extremely low because it's not a capital-intensive business when it comes to technology. Yeah. Okay. All right. Great. Thank you. And I guess just with what the share price has done this morning and having a look at where consensus is at, have you got any comments on I assume you're across where consensus is sitting for your numbers for the full year? Yes, we are. I guess I'll just refer back to the trading update that we gave today, which is the best update we can give the market at this point in the context of that consensus. Sure. Okay. Thanks very much. Thank you. There are no further questions at this time. That does conclude our conference for today. Thank you for participating. You may now disconnect.