Fairfax the next to release FY13 results

Fairfax Media have released their FY13 results to the ASX.

The company made a $16.4 million loss in the last financial year which is an improvement on the $2.7 billion loss in the year prior.

Revenue was down 8.2% to $2.03 billion while earnings were $366 million, down 28% on last year.

Talking about the radio side of Fairfax, Chief Executive and Managing Director Greg Hywood said:

“Our radio businesses enjoyed a good year. Overall ratings and market share have improved. 96fm is the highest rating station in Perth while 3AW held its top spot in Melbourne. In a radio market which grew just 0.7%, Fairfax Radio increased advertising revenue by 7.7%. This revenue growth underpinned a 35% increase in underlying EBITDA for the full year.”

Overall Results Summary

• Revenue of $2,033.8 million, down 8.2%
• Significant items totalling $(144.5) million after tax
• Net loss after significant items and tax of $16.4 million, an improvement on the $2,732.4 million loss in the prior year
• Cash inflow from trading activities of $377 million
• Net debt reduced by $760 million to total $154 million
• Dividend of 1¢ per share, consistent with interim and H2 FY12 dividends, bringing the total for the year to 2¢ a share, a payout ratio of 37%

Underlying results excluding significant items

• EBITDA reduced 27.7% to $366 million
• Net profit after tax decreased 37.7% to $128 million
• Earnings per share of 5.4¢, down 37.9%

See the full preso from Fairfax Media here.