• H2 EBITDA +6%, TV EBITDA +4% and underlying NPAT +33%
• 7plus revenue growth of +26% driven by audience and streaming growth
• Total TV revenue share increased to 40.4%, 5th consecutive year of growth

Seven West Media Limited (ASX: SWM) has released its results for the 12 months ended 30 June 2025, reflecting the execution of the strategy to kickstart growth. The company delivered second half EBITDA growth of +6% and second half underlying NPAT growth of +33% in line with guidance provided in February 2025. Group operating costs of $1,203 million were also in line with guidance. Group revenue of $1,354 million was down -4% ($61 million) on FY24, with the rate of decline moderating in the second half to -2%. Seven's total TV advertising revenue was down only -1% in the second half, driven by a +41% increase in 7plus revenue. This compares favourably to the first half revenue decline of -6%, when 7plus revenue grew +15%. The growth in 7plus audience and revenue has helped offset the decline in broadcast TV revenue. Total TV audiences were up +1.1% (total people) and +1.5% in the key 25-54 demographic, highlighting the continued strength of Seven's content. The West business also delivered a consistent performance, balancing volatile advertising markets with innovation and efficiency.

Seven is targeting FY26 earnings to exceed consensus ($161 million). In Q1 FY26, total TV revenue is tracking flat to prior year with momentum into September, and 7plus bookings are tracking ~+25%.

Seven's key priorities are to drive 7plus revenue growth to offset broadcast outcomes, deliver costs at least in line with plan, and improve cashflow and reduce leverage to the target range of 1-1.5x.