SCA numbers released

Staff Writer


Southern Cross Austereo have announced their financial results for the six months to 31 December today.

The group has reported:

Revenue: $ 362.6m
EBITDA: $ 123.3m

It is misleading to compare the results to the previous calendar period as this did not include revenue and earnings from Austereo. So whilst with Austereo included, the figures are significantly up on pcp, on a ‘like for like’ basis, the revenue fell 2.7%, whilst EBITDA was flat.

The net profit after tax was positively impacted by a one-off benefit of $ 36m arising from the Austereo acquisition.

CEO Rhys Holleran commented ‘despite a subdued advertising market, we have been able to leverage the considerable strengths and talents of the combined businesses to further improve margins and benefit shareholders’. Speaking specifically on the Kyle incident from late last year he said 'whilst unhelpful, the impact on revenue has not been material'. 

SCA reported run-rate savings from the synergies from the merger at $ 11.1m, and Rhys Holleran has said that he anticipates these savings to be $ 20m by the end of the 2014 financial year.


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