What's New August 17, 2023

SCA releases full year results

Reporter

Southern Cross Austereo (SCA) has released its FY23 results with overall radio revenue steady, an increased metro radio share and significant growth in LiSTNR revenue.

SCA Radio Results Summary:

Broadcast radio revenue of $372.8M was steady (down 1.2%). Metro radio advertising was fractionally up, regional down 4.6%, largely due to a decline in Government spending.

LiSTNR revenue increased 36.2% to over $21 million. With more than 8 million monthly listeners, LiSTNR’s EBITDA (earnings before interest, taxes, depreciation and amortisation) loss for the year was reduced by over 30%.

Overall Group revenues were down. Audio was marginally up (0.3) but offset by overall television decline of 14.5%

Active cost control saw a 1.3% reduction in non-revenue related expenses.

A fully franked dividend of 2.2 cents per share will take the full year dividends to 6.80 cents per share.

ARN will release its half year results next week.