Southern Cross Media Group (SXL) investor relations material

Executive summary

• Completion of the merger with Seven West Media created a leading integrated multimedia platform with nationwide TV, audio, digital, and publishing coverage, targeting the 25-54 demographic.

• Management changes, including a new CFO, were announced to accelerate strategy execution and realize merger benefits.

• The group achieved at least AUD 30 million in targeted cost synergies for FY27 and focused on scalable advertiser solutions and combined data insights.

• Principal activities include audio content creation and monetisation through advertising across broadcast and digital platforms.

Financial highlights

• Pro forma H1 FY26 revenue was AUD 1,008 million, down 1.5% year-over-year; EBITDA was AUD 106.9 million, down 14.5%; NPAT was AUD 34.7 million, down 16.5%.

• SCA Audio segment revenue grew 3.2% to AUD 216.5 million; EBITDA up 17.5% to AUD 28.4 million; underlying EBITDA up 28% to AUD 40.1 million.

• Seven West Media segment revenue was AUD 792.2 million, down 2.7%; EBITDA down 28.7% to AUD 66.9 million; NPAT down 42.2% to AUD 21.9 million.

• Digital audio revenue up 14% to AUD 25.2 million; digital audio EBITDA up to AUD 2.8 million.

• Net debt reduced 4.8% to AUD 338.2 million; no interim dividend declared.

Outlook and guidance

• Group targeting FY26 revenue of AUD 1.91–1.92 billion and total costs of approximately AUD 1.7 billion, down from AUD 1.71 billion in FY25.

• Forecasting FY26 EBITDA of AUD 200–220 million, compared to AUD 233 million in FY25; audio EBITDA reaffirmed at AUD 78–83 million.

• Audio revenue in January up 4% year-over-year; Q3 expected to be flat; TV revenue in January up 3%, but Q3 expected to be down 2–3% due to Olympics impact.

• AUD 20 million in new cost-saving initiatives identified for H2.

• No interim dividend declared for the half year; final dividend for FY25 was 4.0 cents per share, fully franked.