Half Year Accounts
| Stock | Nine Entertainment Co. Holdings Ltd (NEC.ASX) |
|---|---|
| Release Time | 25 Feb 2025, 8:44 a.m. |
| Price Sensitive | Yes |
Nine Entertainment Co. Reports H1 FY25 Results
- Revenue up 1% to $1.39 billion
- EBITDA down 15% to $268.4 million
- Net profit after tax down 25% to $112.2 million
- Interim dividend of 3.5 cents per share, fully franked
Nine Entertainment Co. has reported its results for the half year ended 31 December 2024, with revenue before specific items, excluding finance income, increasing by 1% to $1,390.1 million. However, Group EBITDA before specific items decreased by 15% to $268.4 million, primarily due to weaker economic and advertising market conditions, which were partially offset by cost savings of around $35 million. Net profit after tax, excluding specific items, declined by 25% to $112.2 million. The company's Broadcast division saw revenue increase by 2% to $666.5 million, driven by the coverage of the Paris 2024 Olympic and Paralympic Games, but EBITDA decreased by 33% to $109.5 million due to higher content and production costs. Digital and Publishing revenues declined by 7% to $268.2 million, with EBITDA down 4% to $74.3 million, while Stan revenue increased by 7% to $245.5 million and EBITDA grew by 16% to $29.4 million. Domain reported a 5% increase in revenue to $217.2 million and a 15% rise in EBITDA to $77.8 million. The company has declared an interim dividend of 3.5 cents per share, fully franked, payable in April 2025.
The company has not provided any high-importance, price-sensitive forward-looking financial metrics.