Southern Cross Media Group (SXL) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional custodians, and confirmed quorum for the hybrid AGM held in Sydney and online.

• Introductions of board members, senior leadership, auditors, and Computershare as Returning Officer were made.

• Voting and Q&A procedures for both in-person and online participants were outlined, ensuring all eligible shareholders could participate.

Financial performance review

• Revenue grew 5% to AUD 421.9 million, with underlying group EBITDA up 34.4% to AUD 71.1 million for FY25.

• Digital revenue increased 28.8%, with LiSTNR becoming EBITDA and cash flow positive.

• Net debt reduced by AUD 40 million to AUD 67.6 million, and leverage ratio improved to 1.10x.

• A fully franked dividend of AUD 0.04 per share was paid for FY25.

• Q1 FY26 results showed revenue up 4.7% and underlying EBITDA up 129% year-on-year.

Board and executive committee updates

• Chair and CEO highlighted the successful execution of the transformation strategy, divestment of regional TV assets, and focus on audio and digital.

• Board composition and director re-elections were discussed, with emphasis on digital and governance expertise.

• Ido Leffler re-elected as director with 78.34% support, but will serve until June next year due to merger plans.