• H2 earnings growth in line with guidance - EBITDA +6%, TV EBITDA +4%, underlying NPAT +33%
• 7plus revenue growth +26% (H2 +41%) - Daily active users (DAUs) +27%, streaming minutes +41%
• Total TV audiences up +1.1% (total people) and +1.5% in key advertising demographic (25-54)

Seven West Media reported its FY25 results, with H2 earnings growth in line with guidance. EBITDA increased 6%, TV EBITDA was up 4%, and underlying NPAT grew 33%. 7plus revenue grew 26% (41% in H2), with daily active users up 27% and streaming minutes up 41%. Total TV audiences increased 1.1% for total people and 1.5% in the key 25-54 advertising demographic. The company completed the acquisition of Southern Cross Media's Seven affiliate TV markets, which was immediately accretive. Operating costs were reduced 2% to $1,203 million, in line with guidance. The company is executing on its strategy to deliver a digital future, optimize traditional assets, reset the advertiser value proposition, find new revenue streams, and manage costs responsibly. Key objectives for FY26 include growing revenue and earnings, offsetting broadcast declines with 7plus revenue growth, and improving cashflow to reduce leverage.

Targeting FY26 earnings to exceed consensus ($161 million).

The company expects total TV revenue to stabilize, with July and August tracking flat to prior year and momentum into September. Q1 FY26 7plus bookings are tracking around +25%. The company is focused on driving 7plus revenue growth to offset broadcast outcomes, delivering costs at least in line with plan, and improving cashflow to reduce leverage to the target range of 1-1.5x.