Nine Entertainment Co. (NEC) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with an acknowledgment of traditional custodians and confirmation of a quorum, with the Chair announcing her planned succession by Peter Tonagh.

• Shareholders participated both in-person and virtually, with clear instructions for voting and questions.

Financial performance review

• Group revenue increased by 2% to AUD 2.68 billion, driven by strong growth in streaming, digital, and subscription revenues.

• Group EBITDA declined by 6% to AUD 486 million, with EBITDA margin down 1.6 points to 18.2%.

• Statutory net profit, including specific items, was AUD 133.3 million, a 1% decrease from the previous year.

• The sale of a 60% stake in Domain generated AUD 1.4 billion after-tax, with over half returned to shareholders and debt reduced.

• Digital subscription revenue growth now exceeds print decline, marking a key inflection point.

Board and executive committee updates

• Catherine West stepped down as Chair, succeeded by Peter Tonagh, with new directors Tim Longstaff and Peter Tonagh joining during the year.

• Matt Stanton was appointed CEO and Managing Director after an international search.

• Board succession was described as orderly and based on experience and unanimous decision.