Southern Cross Media Group Limited · ASX:SXL
Southern Cross Media — FY2026 Earnings Presentation
33 slides from Southern Cross Media's earnings presentation, Aug 11, 2026
Slide 1: 2026 Investor Presentation ASX Release
ASX RELEASE 11 August 2026 2026 Investor Presentation Southern Cross Media Group Limited (ASX: SXL) attaches the 2026 Investor Presentation for the year ended 30 June 2026. Approved for release by the Board of Directors. For more information, please contact: Investors: Media: Scott Butterworth Neil
Slide 2: Investor Presentation
Investor Presentation SOUTHERN CROSS MEDIA GROUP
Slide 3: Disclaimers
Disclaimers Basis of preparation These measures are used internally by management to assess the Investors should form their own views as to these matters and assumptions The material in this presentation has been prepared by Southern Cross performance of the business and have been included to provid
Slide 4: Investment Overview
>20M 1 Unmatched reach across the channels that matter No Australian media company connects with more people — across AUSTRALIANS broadcast, streaming, digital, audio and publishing REACHED Content advertisers trust and audiences choose #1 2 Premium live sport, news and entertainment — the categorie
Slide 5: Open
Open ROHAN LUND GROUP MANAGING DIRECTOR AND CEO 4
Slide 6: Key Messages
01 Results reflect market headwinds, revenue share gains, cost down • Revenue $1,870M • EBITDA (exc onerous) $192M • EBITDA (inc onerous) $200M 02 Financial reset is underway • $30M cost synergies achieved • ~$145M cost program started1 • $569M new bank facility in place Key • Ventures exit Messages
Slide 7: Financial Outcomes
REVENUE $125M market contraction impact $1,870M Offset by share growth impact of $41M1 DOWN $87M / 4.4% TOTAL EXPENSES Variable costs lower in line with revenue $1,678M $30M merger cost synergies DOWN $51M / 3.0% EBITDA (excl / incl onerous contracts) $192M / $200M Financial Reflects market conditio
Slide 8: Business Outcomes
National audience share TV ad revenue share 7plus registered users 41.6% 16.7M 42.5% 41.2% 40.4% 15.8M TV 1 FY25 FY26 FY25 FY26 FY25 FY26 #1 rated TV network | Fastest growing BVOD | Consumption 6.30 hrs pw, up 14 mins Business Metro 25-54 audience share Audio ad revenue share LiSTNR registered user
Slide 9: Combined Platform
National cumulative reach by day-part by platform (# million) 12.0 10.0 8.0 6.0 SCA radio 4.0 2.0 Seven TV 0.0 Combined 5.30AM-9AM 9AM-12NN 12NN-4PM 4PM-7PM 7PM-12MN → 38% of audience members both listen to SCA and watch Seven Platform What advertisers tell us 1 90% 25% 40% POWERFUL AND RESONATING L
Slide 10: Our Strategy
Our Strategy We connect Australians with what matters to them TRUSTED, LIVE & LOCAL HEADWINDS TO TAILWINDS Meet our Meet our Reimagine the Keep Audiences Advertisers way we work the where they are where they are Fire Burning Culture of trust to carry the torch 9
Slide 11: Creating Value From Strategy
We bring Australians together through content they love and trust We turn that connection into audiences that work for advertisers Content Audiences First party Advertiser Every Creating people love at scale insight solutions brief Live sport and news Metro, regions, fans Who they are Audience-led L
Slide 12: Refreshed Team
Rohan Lund MD & CEO ~12 years media Previous: CEO, NRMA Operating businesses Angus Ross John Kelly Maryna Fewster MD Television & Streaming MD Audio CEO SWM WA Refreshed ~27 years media ~28 years media ~10 years media Previous: Group MD, Previous: CEO, SCA Previous: COO, iiNet Seven Team Group enabl
Slide 13: Financial Results
Financial Results SCOTT BUTTERWORTH CFO 12
Slide 14: Group Earnings
Group Group Financials $M FY26 FY251 YoY Change Advertising revenue 1,666.7 1,750.9 (4.8%) Other revenue 202.9 207.3 (2.1%) Earnings Total revenue 1,869.6 1,958.2 (4.5%) Revenue related costs (254.3) (267.7) (5.0%) MARKET CONDITIONS OFFSETTING BENEFITS OF COST Operating costs (1,423.5) (1,46
Slide 15: Group Revenue
Group revenue movement FY25 to FY26 ($M) Economic softness, PCP activity run-off Digital growth outpaced Audio decline – for the first time Refreshed formats and rosters 116 Group 4 7 6 2 1,956 34 Revenue Ratings (sport, mornings, tentpoles, news). Sales 1,870 effectiveness SHARE GAINS OFFSET BY IMP
Slide 16: Group Expenses
Group expense movement FY25 to FY26 ($M) Unavoidable CPI increases from Commercial Procurement scale content, personnel Broadcasting Tax benefits and and other operating relief duplication removal costs 22 15 30 50 Group 21 1,461 Initial operating model 1,423 improvements resulting Expenses Schedule
Slide 17: Expense Program
Simplify operating model Clear organisational design – TV, Audio, Publishing • Program builds on momentum created by merger synergy realisation Expense Clear accountabilities • Targeting run-rate savings of $145 - 150M upon conclusion Program Reduce middle management and corporate overhead • Substan
Slide 18: Divisional Outcomes
Divisional performance FY26 ($M) 1 TV Audio Publishing Corporate2 Group Revenues 1,251.5 429.9 187.0 1.2 1,869.6 Costs (1,141.9) (329.5) (160.8) (45.5) (1,677.7) EBITDA (exc onerous contracts) 109.6 100.4 26.2 (44.3) 191.9 EBIT 60.3 74.4 21.3 (44.3) 111.7 Digital revenue 240.8 51.6 27.9 - 320.3 EBIT
Slide 19: Balance Sheet
Balance Sheet SCOTT BUTTERWORTH CFO 18
Slide 20: Group Cashflows
Cashflow $M` FY26 FY25 YoY Change EBITDA 200.0 233.9 (14.5%) Non-cash items (29.6) (21.7) 36.4% Movement in working capital (29.0) (13.1) 122.4% Capex (27.5) (35.4) (22.5%) Cash tax (13.4) (14.8) (9.4%) Total lease payments (38.3) (43.1) (11.3%) Other1 (21.2) (19.0) 11.9% Cashflow avai
Slide 21: Debt Metrics
Reported Leverage (x)1 Reported Interest Cover (x)2 1.8 7.6 1.6 7.3 1.5 7.1 FY25 1H26 FY26 FY25 1H26 FY26 Debt maturity profile ($M) Debt 685 Existing FY28 maturities refinanced to FY30 / FY31 379 Metrics 190 FY27 FY28 FY29 FY30 FY31 NEW DEBT FACILITY PROVIDES ADDITIONAL FLEXIBILITY AND NO MATURITIE
Slide 22: Close
Close ROHAN LUND GROUP MANAGING DIRECTOR AND CEO 21
Slide 23: FY27 Priorities
FY27 Priorities Play to our strengths • Trusted, live and local content Audience • Maintain and extend gains from FY26 – TV, Audio, Publishing • Expand engagement – off platform, short-form, cross-brand Advertisers • Embed Total TV and Total Audio market propositions • Productise first-party data as
Slide 24: Trading and Outlook
Trading and Outlook FY27 Q1 Trading • Television revenue tracking flat year-on-year, share gains from Commonwealth Games and AFL finals offsetting a market down mid-single digits • Audio revenue up low single digits • Publishing revenue stable year-on-year Outlook The advertising market remains shor
Slide 25: Appendices
Appendices 24
Slide 26: TV Performance
TV FY26 FY251 YoY Change TV TV audience share2 TV Advertising share3 42.5% 41.6% 41.2% 40.4% 1.3 ppt 1.2 ppt Performance TV Financials $M Advertising revenue 1,165.0 1,247.3 (6.6%) Revenue Other revenue 86.5 92.8 (6.8%) • Total TV audiences up 2.8%, driving a record 42.5% share (up 1.3% ppts
Slide 27: Audio Performance
Audio Performance Audio FY26 FY25 YoY Change Metro radio audience share1 36.8% 35.2% 1.6 ppt Metro radio advertising share2 30.0% 28.3% 1.7ppt Revenue Audio Financials $M • Metro radio revenue share up 1.7 pts to 30%, driven by 25-54 audience leadership and strong sales execution; offset by mark
Slide 28: Publishing Performance
Publishing Performance Publishing FY26 FY25 YoY Change West Australian monthly audience1 3.5m 3.2m 8.1% The Nightly Digital edition opens2 1.2m 1.0m 24.6% Revenue • The West Australian’s weekday and Saturday editions maintain the highest Publishing Financials $M market reach of any major metropo
Slide 29: Useful Life Amendments Depreciation & Amortisation
Group D&A expense movement FY25 to FY26 ($M) Increase in Depreciation & lease amortisation associated with PPA adjustments to asset values Reduction in Amortisation relating to reassessment of the useful life of intangible assets Reduction in Depreciation associated with reductions in capital expend
Slide 30: Significant Items
Significant Items Group Significant Items $M FY26 FY25 YoY Transaction Costs 28.6 - n.m. PRIMARILY DRIVEN BY SCA/SWM MERGER COSTS AND Restructuring Costs 15.6 9.7 (61.0%) RESTRUCTURING ACTIVITY Investment Revaluations (5.9) 29.1 120.2% • Transaction fees reflect advisor and professional fees paid by
Slide 31: Reconciliations
SWM Proforma Proforma Reported Result Onerous FY26 Result FY26 FY25 Var % 1-7-25 to Contracts 22-12-25 Result Result2 Revenue 1,109.0 760.6 - 1,869.6 1,958.2 (4.5%) Revenue Related Costs (133.8) (104.9) - (254.3) (267.7) (5.0%) Operating Costs (824.8) (590.6) (8.1) (1,423.5) (1,463.1) (2.7%) Reconci
Slide 32: Reconciliations
BUs Elim. Corp. Reported SWM Onerous purchased Affiliation Allocation Proforma FY25 Result Result Contracts by SWM Fees paid in Disc. Result from SCA to SWM Ops Revenue 423.8 1,514.4 - 32.3 (12.2) - 1,958.2 Revenue Related Costs 66.7 197.2 - 16.0 (12.2) - 267.7 Operating Costs 286.1 1,158.6 1.7 13.8
Slide 33: Notes
Notes Slide 3 Slide 7 Slide 17 Slide 26 1. Nielsen CMV 1. OzTAM VOZ : Avg audience 0600 – 2400 1. Proforma, including Regional TV assets 1. GFK Radio Share Ratings. Survey 1-4 2. OzTAM VOZ : Avg audience 0600 – 2400 total people share; Free TV (KPMG) acquired by Seven from SCA Average 2025/2026. 5 C
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