Southern Cross Media Group Limited · ASX:SXL
Southern Cross Media — FY2025 Earnings Presentation
31 slides from Southern Cross Media's earnings presentation, Aug 25, 2025
Slide 1: FY25 Results
FY25 RESULTS 12 MONTHS TO 30 JUNE 2025
Slide 2: FY25 Overview
FY25 OVERVIEW JOHN KELLY CEO & MANAGING DIRECTOR
Slide 3: Strategy in Action
SCA is now in the final stages of transformation from a traditional media company to a digitally focused technology driven Audio company STRATEGY SCA is creating the future of Australian Audio with a IN fully refurbished broadcast business and a best-in- ACTION class digital audio business - LiSTNR
Slide 4: SCA Delivers on Transformation Strategy
FY25 RESULTS HIGHLIGHTS SCA DELIVERS ON TRANSFORMATION STRATEGY STRONG GROWTH IN DIGITAL AUDIO CONTINUED OPERATING COST & CAPITAL DISCIPLINE RESUMPTION OF DIVIDENDS - UNDERPINNED BY STRONG BALANCE SHEET Non Revenue Revenue Related Revenue Costs Related (NRR) EBITDA NPAT Net Debt2 Dividends3 Costs FY
Slide 5: FY25 Result Key Drivers
FY25 RESULT KEY DRIVERS SCA DELIVERS ON TRANSFORMATION STRATEGY Largest Australian Leading Digital LiSTNR Ad-Tech Cost and Capital TV Divestment Audio Network Audio Growth Hub Discipline Growing the “Audiences EBITDA contribution of Driving superior NRR1 costs down 2.5% on TV divestment complete, th
Slide 6: SCA Transformation: Audience That Matters
6 SCA TRANSFORMATION: AUDIENCE THAT MATTERS Metro Radio Regional Radio Digital Commercial 25-54 Audience Share1 SCA Regional Network Reach2 LiSTNR Signed Up Users 2.4m 40% Hit / Triple M Kiis / Gold Nova / Smooth 2.2m 1.8m 2.0m 36.7% 1.7m 1.8m 1.7m 1.5m 1.2m 1.6m 27.6% 1.5m 0.9m 26.8% 0.4m 0.2m 20%
Slide 7: SCA Transformation: Commercial Metrics That Matter
7 SCA TRANSFORMATION: COMMERCIAL METRICS THAT MATTER Improving Metro Radio Share Regional Radio Digital Metro Radio Market Revenue Share1 Regional Radio SMI Revenue Share Digital Revenue 30% FY24 FY25 FY24 FY25 $45.2m 29.5% 65.0% $35.0m 28.5% 27.6% 27.4% $24.8m 28.4% $20.8m 60.0% $15.4m 26.9% 27.0%
Slide 8: SCA Transformation: Operating Metrics That Matter
8 SCA TRANSFORMATION: OPERATING METRICS THAT MATTER Cost Discipline Capex Headcount Non Revenue Related Cost Capital Expenditure Employment Headcount $54.0m TV Local Sales Representation $21.3m 1,563 Costs, offset by 1,414 Revenues 1,215 <$270m $270.8m $264.3m ($53.3m) $9.9m $10.0m $8.9m CPI & Contr
Slide 9: Triple M – The Resurgence Continues
TRIPLE M – THE RESURGENCE CONTINUES Triple M Network P25-54 Share1 19.4% 20.0% • Triple M is dominant in the ‘Audience That Matters’, with 3 #1 stations in P25-541 – Brisbane, Adelaide and Perth 13.6% • 42%+ share gain in P25-54 market1 since 2023, going from 13.6% share to 19.4% share in survey 4 2
Slide 10: Radio Has Gained a New Life Through Streaming
RADIO HAS GAINED A NEW LIFE THROUGH STREAMING % Listen Exclusively to Streaming Radio % Listen to both Streaming and Broadcast Radio % Listen exclusively to Broadcast Radio • Radio remains a key part of Australian media consumption, 80% 81% with 78% of the population tuning in each week 79% 79% 78%
Slide 11: FY25 Financial Results
FY25 FINANCIAL RESULTS TOBY POTTER CHIEF FINANCIAL OFFICER
Slide 12: FY25 Financial Results: The Context
FY25 FINANCIAL RESULTS THE CONTEXT Results & commentary focused on Continuing Operations (Broadcast Radio, Digital Audio and Corporate), with Television reported as discontinued operations SCA’s transformation into a best-in-class audio business is evident in the FY25 results with growing revenues,
Slide 13: Reported Results Summary
REPORTED RESULTS SUMMARY $ millions FY25 FY24 Var $ Var % Revenue 421.9 401.9 20.0 5.0% Revenue Related Expenses 87.2 78.7 8.5 10.8% • Group Revenue up $20.0m or 5.0% to $421.9m Non-Revenue Related 275.3 280.6 (5.4) (1.9%) Expenses • Total Expenses up $3.2m or 0.9% to $362.5m Total Expenses 362.5 35
Slide 14: FY25 Result – Walk from Reported to Continuing Operations
FY25 RESULT – 'WALK' FROM REPORTED TO CONTINUING OPERATIONS Consolidated NRI’s relating Audio & Continuing Operations Reported TV Operating TV to TV Corporate (Audio + Corporate & Result Consolidation1 Result (exc. NRI’s) divestment2 NRI’s excluding NRI’s) (exc. NRI’s) Revenue 421.9 69.4 - - 491.3 (
Slide 15: Continuing Operations Result
CONTINUING OPERATIONS RESULT $ millions FY251 FY241 Var $ Var % • Revenue was up $20.0m or 5.0%, with growth across both digital Revenue 421.9 401.9 20.0 5.0% and broadcast • Total Expenses of $350.7m are flat on a like for like basis2, Revenue Related Expenses 87.2 78.7 8.5 10.8% reflecting an ongo
Slide 16: Broadcast Radio Results
BROADCAST RADIO RESULTS $ millions FY251 FY241 Var $ Var % • Revenue has outperformed the market with broadcast radio Revenue 376.8 366.6 10.2 2.8% revenue up $10.2m (2.8%) to $376.8m Revenue Related Expenses 75.4 71.2 4.2 5.9% o Metro Radio revenue increased by $7.0m, driven by Non-Revenue Related
Slide 17: Digital Audio Results
DIGITAL AUDIO RESULTS $ millions FY251 FY241 Var $ Var % Revenue 45.1 35.0 10.1 28.8% • Digital Audio has achieved positive EBITDA for FY25, finishing the year at $2.0m, up $12.9m v. pcp – Digital is now EBITDA Revenue Related Expenses 11.8 7.4 4.4 59.2% and cash flow positive Non-Revenue Related 31
Slide 18: Cashflow - Improved Cash Conversion
CASHFLOW - IMPROVED CASH CONVERSION $ millions FY25 FY24 Var $ Net Debt Start of Period (107.5) (105.0) (2.4) • Strong cash conversion of 112.4% due to focus on cash Net Cash from Operations 67.1 37.3 29.7 collections and the run-off of TV receivables – net cash from Principal lease payments (8.1) (
Slide 19: Debt & Capital Management
DEBT & CAPITAL MANAGEMENT • Focus on operational improvement and cashflow has delivered a $40m reduction in net debt over the last 12 months 1.87x 1.80x 1.58x • Key debt measures well below covenants; 1.48x • Leverage Ratio at June 2025 down to 1.10x1 versus 1.33x covenant of 3.5x 1.10x • Interest c
Slide 20: Return to Fully Franked Dividends
RETURN TO FULLY FRANKED DIVIDENDS 9.25 cps • With reduced debt, low future capex requirements, positive digital contribution and a reduced operating cost base, future 6.80 cps cash earnings are expected to be strong, ~80% conversion of incremental revenue to earnings 5.00 cps • Alongside the sustain
Slide 21: SCA Audio Scorecard
SCA AUDIO SCORECARD 2.4M SIGNED IN USERS #1 P25-54 IN METRO RADIO HEARD BY OVER 73% OF REGIONAL LISTENERS 70%+ OF LiSTNR CAMPAIGNS INCLUDE AD-TECH HUB CONSISTENT METRO RADIO SHARE GROWTH LEADING THE DIGITAL AUDIO MARKET FRESH TALENT, SHOWS & PODCASTS THAT RESONATE LiSTNR IS NOW EBITDA CASHFLOW POSIT
Slide 22: FY26 Outlook
FY26 OUTLOOK
Slide 23: Improved Operating Leverage Forecast to Drive EBITDA & Cashflow Growth in FY26
IMPROVED OPERATING LEVERAGE FORECAST TO DRIVE EBITDA & CASHFLOW GROWTH IN FY261 Revenue Non Revenue Total audio revenues have grown modestly in July & August, Revenue2 Related Costs Related Costs assisted by broadcast share growth and growth in digital audio $435m - $440m ~20% <$270m of revenue Digi
Slide 24: Q&A
Q&A
Slide 25: Appendix
APPENDIX
Slide 26: Significant and Non-Recurring Items
SIGNIFICANT AND NON-RECURRING ITEMS FY25 FY24 Restructuring M&A & Restructuring M&A & $ millions Q1 Q2 Impairment H1 Total $ millions Impairment Total Charges Other Costs Charges Other Costs $'000s Actual Actual Actual Project Broadcast Radio Trident 7.5 2,708 0.0 3,175 5,883 0.0 7.5 Broadcast Radio
Slide 27: FY24 Result – Walk from Reported to Continuing Operations
FY24 RESULT – 'WALK' FROM REPORTED TO CONTINUING OPERATIONS Consolidated NRI’s relating Audio & Continuing Operations Reported TV Operating TV to TV Corporate (Audio + Corporate & Result Consolidation Result (exc. NRI’s) divestment NRI’s excluding NRI’s) (exc. NRI’s) Revenue 401.9 97.5 499.4 (97.5)
Slide 28: Television Results
TELEVISION RESULTS $ millions FY25 FY24 Var $ Var % Revenue 69.4 97.5 (28.1) (28.8%) Revenue Related Expenses 32.3 46.0 (13.8) (29.9%) Non-Revenue Related 33.0 38.2 (5.2) (13.5%) • FY25 TV results include 8 months of earnings for Network Ten Expenses assets, compared to 12 months in FY24 Total Expen
Slide 29: Corporate Results
CORPORATE RESULTS • FY25 Corporate segment costs have increased due to the following; $ millions FY251 FY241 Var $ Var % • Increases in variable remuneration (+$2.0m), of which none Revenue 0.0 0.3 (0.3) nm were accrued in FY24 Total Expenses 28.0 23.6 4.4 18.6% • Increases in Software costs, in par
Slide 30: Disclaimer
DISCLAIMER SLIDE SUMMARY INFORMATION The material in this presentation has been prepared by Southern Cross Media Group Limited ABN 91 116 024 536 (SCA) and contains summary information about SCA’s activities current as at 25 August 2025. The information in this presentation is of a general backgroun
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Southern Cross Media Group — FY2025 Earnings Presentation on 6ix