Half Year 2026 Southern Cross Media Group Ltd Earnings Call Transcript
Key Points
- Successful merger with Seven West Media, creating a major media platform with comprehensive coverage across TV, streaming, audio, digital, and publishing.
- Pro-forma revenue for the December half was over $1 billion, with significant audience growth in key demographics.
- Strong performance in digital audio, with revenue increasing by 14% and EBITDA margins improving significantly.
- Continued growth in the listener app, with over 2.5 million signed-in listeners and double-digit revenue growth.
- Effective cost management, with total expenses declining and EBITDA increasing by 28% in the audio business.
- Overall revenue was down 1.5% on a pro-forma basis, reflecting challenging market conditions.
- Net profit after tax from discontinued operations was negatively impacted by a decline in Network 10's audience share and weaker regional television markets.
- TV revenue in Q3 is expected to decline by 2 to 3%, despite growth in premium sports and digital segments.
- The company has not declared an interim dividend, focusing instead on debt reduction.
- Ongoing challenges in regional radio's national bookings, impacting overall audio revenue growth.
Okay, and welcome, to the Southern Cross Media half-year results call. (Operator Instructions) Please note, we will only be taking questions from investors and analysts today. Media are welcome to remain in a listen-only mode.
I would now like to hand the conference over to Mr. Heith Mackay-Cruise, Executive Chairman. Please go ahead.
Thank you and good morning everyone. Thank you for joining the Southern Cross Media Group's result call for the six months ending December 30, 2025, financial results that Southern Cross Media Group have delivered as a merged entity after the successful implementation of the scheme of arrangement completed last month.
Before the team presents the first half of the 2026 financial results, I would like to make some comments and remarks regarding the key management personnel changes announced to the market yesterday. The board recognises these announcements are significant. Following a period of major change as our two
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