• Strong operating momentum continues with audio revenues up ~9%
• Non-revenue related costs for FY25 expected to be ~$265m, an improvement on previous guidance
• Intention to resume dividends with the final dividend for FY25

Southern Cross Media Group Limited (ASX: SXL) has provided a trading update and an intention to resume dividends, aligned with the final dividend for FY25. The strong operating momentum from the first half of FY25 has continued into the first four months of calendar 2025, with audio revenues up approximately 9% on the prior corresponding period, driven by growth in both broadcast and digital audio revenues. Audio revenues are also up approximately 7% on the prior corresponding period for the ten months to April 2025. As a result of embedded cost discipline and active cost-out initiatives across the business, non-revenue related costs for FY25 are now forecast to be ~$265m, an improvement on the previous guidance of non-revenue related costs being below $270m. This outcome will result in FY25 non-revenue related costs being $5m or 2% below the FY24 comparative cost base of $270m. Supported by sustained operational momentum and financial discipline across the business, which is resulting in improved financial performance, the Group's leverage ratio is now forecast to be below 1.5x at 30 June 2025. Additionally, with the elimination of earnings uncertainty from the disposal of the TV assets, and the re-set audio and capital base, the Board's current intention is to resume dividends with a final dividend for FY25.

Non-revenue related costs for FY25 are now forecast to be ~$265m, an improvement on the previous guidance of non-revenue related costs being below $270m.