Full Year 2024 Southern Cross Media Group Ltd Earnings Call Transcript
Key Points
- Digital audio revenues grew by 57% in the second half of FY24, reaching $35 million.
- EBITDA profitability was achieved in Q4 of FY24, with LiSTNR expected to be cash flow positive in FY25.
- Cost management initiatives resulted in non-revenue-related costs being capped below guidance at $308.4 million.
- Metro radio revenue share has grown each month since December 2023, with a strong position in the 25 to 54 demographic.
- CapEx was reduced to $15.8 million in FY24, with further reductions to $10 million forecast for FY25.
- Group revenues declined by 1% year-on-year, with broadcast radio revenues down 1.7% and TV revenues down 8.6%.
- A statutory non-cash impairment charge of approximately $228 million was recognized for broadcast radio licenses.
- Net debt increased slightly to $107.5 million, with higher net financing costs due to the high-interest rate environment.
- The Board decided not to declare a final dividend for FY24 as the group prioritizes deleveraging.
- Operating cash conversion reduced to 67.2%, reflecting the timing of customer receipts.
Welcome to the Southern Cross Australia full-year results conference call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, SCA's CEO, John Kelly. Please go ahead.
Good morning, and welcome to Southern Cross Australia results presentation for the year ended June 30, 2024. I would like to acknowledge the Gadigal of the Eora Nation, traditional custodies of the land on which we meet today and pay my respects to their elders, past and present. I extend that respect to Aboriginal and Torres Strait Islander peoples here today. I'm John Kelly. I'm joined today by our Chief Financial Officer, Tim Young.
You will hear from Tim shortly for a detailed overview of our financial performance. At the end of our presentation, Tim and I, as always, will be happy to answer your questions. I'll first give you an overview of our results and achievements
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
