We have a clear objective: to achieve profitable,
sustainable growth to secure Salmat's future and deliver
a solid return on investment to our shareholders.


energy and investment in areas where Salmat is - or can be - the clear market leader. Reviewing our product and services portfolio and establishing a new marketing capability.



every aspect of the business, so Salmat is agile, responsive, efficient and effective. Integrating IT and business operations, consolidating finance and HR functions.



the business in a targeted, connected and profitable manner. Focussing our sales efforts and implementing a client-centric sales structure with targeted solutions.


What we do:



Salmat's Consumer Marketing Solutions division incorporates our Media and Digital services, including national letterbox distribution and online catalogues, ecommerce, email and SMS marketing, data services and search engine marketing.



The Customer Engagement Solutions division comprises a multi-channel contact centre solution, enabling clients to connect with their customers across voice, email, webchat, SMS and social media communication.

We get our clients closer
to their customers ...

Millions of them


Chairman's message

Peter Mattick AM
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Salmat is targeting a return to earnings growth and improved shareholder returns.

Peter Mattick AM, Chairman

The past financial year has been a year of transformational change at Salmat.

The finalisation of the growth strategy major initiatives, the commencement of the business transformation program and the significant changes to the senior management team have marked a substantial shift in approach for the business as we address changing markets and margin pressures.

While the FY15 financial results reflect the internal focus of this transformation, the business is already achieving solid cost savings and is well-positioned for both top line and bottom line growth as we move into FY16.

Performance overview

Given the scale of activity taking place in FY15, there have been some remarkable achievements made by the Salmat team this year. Some of the key notable aspects of the past year's performance include:

  • Salmat's financial results were in line with expectations, with revenue increasing by 10% on the prior year, and EBITDA of $13.3 million at the upper end of the forecast $11-14 million range.
  • All of the remaining key growth strategy milestones were achieved, including finalisation of the Business Process Outsourcing separation and bringing the Reach platform to a stable operational state, with all but two clients migrated.
  • The new leadership team was fully recruited and finalised, including a new Chief Operations Officer, Chief Sales Officer, Chief Marketing Officer, and Head of Organisational Change. A number of senior roles were also removed as part of an overall restructure.
  • The business transformation has been fully mapped out and is well underway, with significant improvements and cost savings already achieved in operations; the product and services initial review completed; and the new finance and HR system - Workday - installed across the Group.
  • In the midst of significant investment and change, Salmat has maintained a net cash position, with $23.1 million at year end.

Several of the projects started in FY14 and continued in FY15 were of such a magnitude that they would normally be tackled individually and serially.

The fact that several of these were successfully completed concurrently is testament to the focus and drive of the Salmat team.

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Chief Executive Officer's report

Salmat has three clear objectives: focus energy in areas where Salmat can lead the market; simplify every aspect of the business; and grow the business in a targeted, connected and profitable manner.

My first full year as CEO has been extremely busy and challenging, but also fulfilling, as the Salmat team has pulled together to complete several major projects of the past two years and commence the business transformation that will bring Salmat back to profitable growth.

We have established a new, experienced and diverse leadership team and structure, with deep experience in driving successful business transformations. I am thrilled at the calibre of leadership talent that we have across the business, both in the executive team and our broader leadership group. It is a highly focused and motivated team, fit for the challenges and opportunities ahead of us.

It is gratifying to look back at all the business has achieved, while recognising that the financial performance is not yet where it needs to be. That said, I am confident that the difficult decisions of the past 12 months and the investments we are making for the future will pay off over the next few years.

Financial performance

In a very challenging market, where growth was hard to find, our revenue was up by 10% on the previous year, at $498.1 million, supported by both the acquisitions and contact centre growth, offsetting a drop of approximately $6 million in revenue from strategically discontinued services, including door to door sales.

Underlying EBITDA was down on the previous year at $13.3 million, but well within our forecast range of $11-14 million, as investment in the growth strategy and business transformation impacted earnings. Employee cost savings and new business margin offset some of the investment costs.

Increased depreciation and amortisation as well as net interest and tax expenses compared with prior year benefits in these categories contributed to an underlying loss of $6.7 million for the year.

There were a number of one-off significant items in FY15. As announced in February, an impairment for goodwill in the CES division was recognised in the first half. This related to the decision to reduce focus on the door-to-door segment as well as the flow-on effect of delays in the Reach contact centre platform migration. Forecasts were revised based on known timings and market conditions.

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Craig Dower
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    IN CMS
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    IN CES


  • PRIORITY: Client offering – Build a product life-cycle roadmap across products and services.
  • PERFORMANCE: The new Chief Marketing Officer role was appointed and new marketing team put in place. The product and services portfolio review was completed and rationalisation is underway.


  • PRIORITY: Operational excellence – drive continuous improvement into everything we do.
  • PERFORMANCE: The IT and service delivery functions have been integrated, with improved process discipline and contract management across various delivery lines, linking the design, implementation and delivery stages.

Corporate responsibility

Salmat is committed to sustainable and socially responsible business operations.We aim to take care of our people, our communities and our environment in our day-to-day activities.


Salmat has always recognised that our people are central to our success, and places great importance on a happy and engaged workforce. We are proud to have been named an employer of choice on more than one occasion and strive to make Salmat an enjoyable, safe and supportive place to work, enabling employees to perform at their best.

During the past twelve months, the focus for the People team has been on supporting employees through the significant change taking place within the organisation, while leading the charge on organisational design and restructuring for the future.

A new three-year People strategy has been developed alongside the business transformation strategy and several key appointments made within the team, aligning Salmat's staff requirements and capabilities with the overall strategic and operational priorities.

The launch of the new Workday finance and human resources system was a major focus for FY15. This new platform went live at the end of June and provides an important new single 'source of truth' across the whole organisation. Employee-related information and processes including leave management and expenses processing are all centrally managed through the new platform, providing significant efficiency gains over the previous disparate, manual and paper-based systems.

Salmat employs specific policies and practices to ensure that all employees are treated fairly and equally throughout their career at Salmat.

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View interactive Financial Report here


Salmat Annual Report 2015

Salmat Annual Report 2015 downloadDOWNLOAD ANNUAL REPORT (3.5MB)

Salmat Shareholder Review 2015

Salmat Annual Report 2015 downloadDOWNLOAD SHAREHOLDER REVIEW (2.1MB)