• Delivered $24M cost out in FY25, on track for $55M by 2027
• Reduced net debt by $25M, extended debt facilities to FY30
• Accelerated digital transformation, digital revenue up 7% and EBITDA up 482%
• Divested non-core assets, focused on core Australian operations

ARN Media Limited provided its Annual General Meeting (AGM) Presentation and Trading Update, outlining the company's progress in reshaping the business amid rapid industry disruption. The Chairman acknowledged the challenging macroeconomic and advertising market conditions, but highlighted the company's strengthened financial foundations, with net debt reduced to $64 million and debt facilities extended to FY30. The company has executed a $24 million cost-out program in FY25, with a line of sight to $55 million in savings by 2027, enabling investment in data, technology, and digital capabilities to drive future growth. ARN's digital transformation has accelerated, with digital revenue growing 7% and digital EBITDA up 482% in FY25. The company has also divested non-core assets to focus on its core Australian operations. The Board recognizes the need for structural reform and industry consolidation to build a stronger, more sustainable domestic media sector, and intends to work with the government and industry to modernize media ownership regulations. The company has also addressed a legal dispute involving former employees, stating its intention to defend any claims and pursue cross-claims. Overall, the company is focused on executing its strategy to transition from a traditional radio business to an entertainment company, creating, distributing, and monetizing premium content across multiple platforms.

The company expects the total audio advertising market to be broadly flat in FY26, with low to mid-single digit declines in the radio market offset by growth in the digital market. The company has identified $55 million in cost-out initiatives from FY24 to FY27, which are expected to drive growth in profitability and earnings per share.