Unmade Index: Motio investors cheer while Enero shareholders hold back

Tim Burrowes

February 19, 2026 4:44

Investors were left only mildy enthused by a decent half year update from agency holdco Enero.

The company delivered a slightly improved profit number despite revenues falling slightly. Enero reported half year EBITDA profits up by $1m to $7.4m, with revenue dipping by 1% to $68m.

Enero, which is debt free, also said that it also had $27.2m cash in the bank.

Of the holdco’s three agency groups, Orchard made the most progress, improving its profitability from $1.6m to $2.8m for the half. BMF was up from $3.3m to $4.8m. Hotwire Global fell from $6.1m to $3.6m.

Enero was up 3.64% to end the day with a market capitalisation of $51.7m.

Elsewhere on the Unmade Index, the other media company to report today, Motio, impressed investors. Motio shares rose by 5.8%, taking it to a valuation of $17.4m

Motio said that EBITDA profits for the half were up 39% to $1.2m. The out of home advertising player also ended the half with $4m in the bank.

Elsewhere on the Unmade Index, Ooh Media continued to trend downwards, losing another 0.48%. Southern Cross Austereo – owner of the Triple M and Hit radio networks, audio platform Listnr and the Seven TV network – improved by 0.75%.

The Unmasde Index closed down 0.22% on 422.2 points.

Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.