Southern Cross Media Group Limited · ASX:SXL
Southern Cross Media — H1 FY2025 Earnings Presentation
32 slides from Southern Cross Media's earnings presentation, Feb 27, 2025
Slide 1: H1 FY25 Results
H1 FY25 RESULTS 6 MONTHS TO DECEMBER 2024
Slide 2: 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 27 February 2025. The information in this presentation is of a general backgro
Slide 3: H1 FY25 Overview
H1 FY25 OVERVIEW JOHN KELLY CEO & MANAGING DIRECTOR
Slide 4: H1 FY25 Results Highlights
H1 FY25 RESULTS HIGHLIGHTS Digital Audio Revenue NRR Costs1 EBITDA1 NPAT1 EBITDA1
Slide 5: H1 FY25 Headlines
H1 FY25 HEADLINES Digital Audio LiSTNR Ad-Tech Cost and Capital Leading TV Divestment Growth Hub Discipline Australian Audio
Slide 6: Leading Australian Audio
SCA has a focused ‘All About Audio’ strategy that targets the ‘audiences that matter’ LEADING SCA has the largest share of Metro radio audiences in the 25-54 age demographic and is maximising AUSTRALIAN monetisation through consistent audience growth and revenue share AUDIO Continued dominance of Re
Slide 7: Audio in Growth
AUDIO IN GROWTH Content • • • Metro Radio Regional Radio Digital Distribution • • Commercialisation • Metro Radio Regional Radio Streaming Podcasting
Slide 8: Digital Audio Achieves EBITDA Breakeven
DIGITAL AUDIO ACHIEVES EBITDA BREAKEVEN H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 • • • • H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25
Slide 9: LiSTNR Audience Growth
LiSTNR AUDIENCE GROWTH • • Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24
Slide 10: Metro Radio Momentum
METRO RADIO MOMENTUM • • • S1 2023 S4 2023 S7 2023 S2 2024 S5 2024 S8 2024 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Hit / Triple M Kiis / Gold Nova / Smooth 2023 2024
Slide 11: Dominating
SCA’s Regional Hit and Triple M Networks combined with our represented partner networks dominate audiences in regional Australia DOMINATING SCA accounts for over 70% of Boomtown commercial radio audiences1, with twice the P25-54 reach of our nearest competitor2 SCA connects advertisers to 133 statio
Slide 12: H1 FY25 Financial Results
H1 FY25 FINANCIAL RESULTS TOBY POTTER CHIEF FINANCIAL OFFICER
Slide 13: Reported Results Summary
REPORTED RESULTS SUMMARY • • • • • • • •
Slide 14: H1 FY25 Result – Walk from Reported to Continuing Operations
H1 FY25 RESULT – 'WALK' FROM REPORTED TO CONTINUING OPERATIONS
Slide 15: Continuing Operations Result (Audio + Corporate)
CONTINUING OPERATIONS RESULT (AUDIO + CORPORATE) • o o o o o • • •
Slide 16: Broadcast Radio Results
BROADCAST RADIO RESULTS • o o • • • • H1 FY24 H1 FY25 H1 FY24 H1 FY25 Agency Direct National Local
Slide 17: Digital Audio Results
DIGITAL AUDIO RESULTS • • o o • • • H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25
Slide 18: Cashflow - Improved Cash Conversion
CASHFLOW - IMPROVED CASH CONVERSION • • • • • •
Slide 19: Debt & Capital Management
DEBT & CAPITAL MANAGEMENT • • • • Jun-2022 Dec-2022 Jun-2023 Dec-2023 Jun-2024 Dec-2024
Slide 20: Non-Revenue Related Costs - Continued Cost Discipline
NON-REVENUE RELATED COSTS - CONTINUED COST DISCLIPINE • • •
Slide 21: Capital Expenditure Continues to Decline
CAPITAL EXPENDITURE CONTINUES TO DECLINE • • • FY22 FY23 FY24 FY25 H1 H2
Slide 22: Television Divestment
3 Agg TV assets divested to Network Ten, expected cash proceeds of $15-$20m payable over the next 5 years TELEVISION DIVESTMENT Binding proposal executed with Australian Digital Holdings (“ADH”), overall proceeds are $6.4m of which $3.8m constitutes upfront cash consideration and $2.6m will be recei
Slide 23: FY25 Outlook
; FY25 OUTLOOK
Slide 24: FY25 Outlook: Continued Momentum into Q3
CONTINUED MOMENTUM INTO @3 FY25 OUTLOOK \ Audio revenues continue to pace well into H2 FY25 and are - forecasted to be “6% ahead of PY for Q3 FY25 With strong Digital Audio momentum continuing, LiSTNR is \ forecast to be profitable for FY25, and we expect double digit revenue growth to continue in F
Slide 25: Q&A
Q&A
Slide 26: Appendix
“i ex.) | APPENDIX (i.
Slide 27: Significant and Non-Recurring Items
SIGNIFICANT AND NON-RECURRING ITEMS Q1 Q2 H1 $'000s Actual Actual Actual Project Trident 2,708 3,175 5,883 Redundancies 1,109 1,210 2,319 Talent Contract Payout 1,247 627 1,875 Outsourcing 27 766 794 Other 324 572 895 Project Sirius 0 575 575 Project Wave 17 1,033 1,049 Dayforce Implementation 282 4
Slide 28: Consolidated Operating Result
CONSOLIDATED OPERATING RESULT • • o o o • • •
Slide 29: H1 FY24 Result – Walk from Reported to Continuing Operations
H1 FY24 RESULT – 'WALK' FROM REPORTED TO CONTINUING OPERATIONS
Slide 30: Television Results
$ millions Revenue Revenue Related Expenses Non-Revenue Related Expenses Total Expenses EBITD. EBITDA Margin NRIs EBITDA inc NRIs Depreciation & Amortisation Tax NPAT TELEVISION RESULTS H1FY25' H1FY24' Var $ Var % 444 . (8.9) 20.7 19.5 40.2 (78%) (16.7%) (70.0%) (87.2%) SCA. ‘cludes net $3.8m gain o
Slide 31: Corporate Results
CORPORATE RESULTS $ millions H1FY25' H1FY24' Revenue 0.0 0.0 Total Expenses 14.6 1 EBITDA (14.6) (12.9) * Corporate costs are up $1.7m, primarily relating to contracted price rises and variable remuneration, which has increased in line with business performance SGA 'Exludes non-recurring items, see
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Southern Cross Media Group — H1 FY2025 Earnings Presentation on 6ix