Seven West Media Limited (ASX:SWM) Presents Half-Year Results
Financial Performance
Seven West Media reported a 6% decrease in total revenue for the half-year ended 31 December 2024. Net profit after tax declined by 67%, while EBITDA fell by 26% compared to the previous year. Total TV advertising revenue dropped by 6%, impacted by a soft market and one-off sporting events.
Operational Achievements
The company achieved a record TV revenue share of 41.5%, driven by a 43% growth in BVOD audiences. Digital platforms saw significant growth with 7plus revenue increasing by 23% in Q2 and 347,000 new users during the cricket season. Total TV audiences grew by 1.5%, supported by strong performance in digital sports rights.
Future Outlook
Seven West Media maintained its FY25 cost guidance, expecting to keep costs down by approximately $20 million to $30 million year-on-year. The company anticipates H2 performance to benefit from AFL growth and the upcoming Federal Election. Strategic investments in AFL ancillary programming and digital initiatives are expected to drive future revenue growth.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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