Nine Entertainment Co. Holdings (NEC) investor relations material

Executive summary

• Achieved group revenue of £2.7 billion (up 2% year-over-year) and group EBITDA of £486 million, with H2 profit up 13% and digital revenues now 47% of total.

• Significant cost reduction of £80 million, with £60 million ongoing, and strategic initiatives including a relaunch of the operating model and Olympics campaign.

• Sale of 60% stake in Domain for $1.4B at a 60% premium to 60-day VWAP, enabling significant capital return to shareholders.

• Audience reach expanded, with Total TV audiences up 12% in 25-54s and digital network reaching 15.6M Australians.

Financial highlights

• Group net profit after tax and minorities (before specific items) was £166 million; statutory net profit was £133 million after £61 million in specific item costs.

• Group revenue rose 2% to $2.7B, while EBITDA fell 6% to $486M compared to FY24.

• Net profit after tax (pre-minorities) declined 10% to $194.4M; EPS down 10% to 10.5 cents.

• Special fully franked dividend of 49c per share to be paid, following Domain sale, with £840 million in franked dividends including a special and final dividend.

• Digital revenues grew 6% year-over-year; subscription revenue up 10%, now 32% of group revenue.

Outlook and guidance

• Continued EBITDA growth expected in H1 FY26 versus H1 FY25, but limited visibility for H2 due to advertising market uncertainty.

• Total TV revenues in September expected to be flat year-on-year, with double-digit growth at Nine Now offsetting a low single-digit decline at broadcast TV.

• Stan revenue growth in FY26 expected to more than offset higher costs, driven by Premier League deal.

• Publishing digital subscription revenue in Q1 FY26 expected to grow low-mid teens percent year-over-year.

• Audio advertising revenue expected to decline in Q1 FY26, but new commercial structure in place.