Enero Group (ASX:EGG) said that for the 12 months ending June 30, the firm expects a net revenue on underlying basis of between AU$167 million and AU$170 million, representing a 10% to 12% year-on-year decline, as a result of structural changes in the ad tech market impacting OBMedia's performance, according to a Friday Australian bourse filing.
The company's earnings before interest, taxes, depreciation, and amortization, excluding significant items, are expected to be between AU$22 million and AU$26 million, representing a 30% to 40% year-on-year decline.
OBMedia's performance was impacted by a recent decision by Google to shift the industry towards its newer Related Search on Content product from its AdSense for Domains monetization product.
OBMedia will be undertaking staff reductions in the fourth quarter of the fiscal 2025, with an initial action this week to remove around AU$7 million of annual cost from the OBMedia business.
Enero Group's shares fell nearly 13% in recent trading on Friday, earlier hitting a 52-week low.
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