‘Strategic Value’ – Sports Entertainment Group FY25 results positive from sales and initiatives

Profit was $22.9m aided by the part sale of the Perth Wildcats (the third stage of the sale will not complete until June 30 2028) and with other area of the business picking up. SRG will also hand back their NZ basketball licenses at the end of this season, with a new 80% interest in the WNBA team the Perth Lynx.

SEG had, not including the Wildcats sale, $110.24m of revenue from its ongoing operations, with an underlying EBITDA  of $10.5m reflecting an organic growth of 62%.

A 2cps Special Dividend was paid to shareholders in October 2024.

The financial results announcement yielded some hints as to what might be to come. Strategic initiatives underway include the Wildcats and NZ sports team offloads, a second TV studio space commissioned, updated website and app and a reset of the cost base.

SEN CEO Craig Hutchison said:

“I am proud to share our FY25 results, which reflect the strength of our strategy and the incredible work of our team. We delivered a 62% uplift in underlying EBITDA to $10.5 million, declared a fully franked dividend of 1 cent per share, and returned $8.3 million to shareholders over the past 12 months.

“These results are the product of years of building scale, reach, and capability across the country. With our cost base reset and strategic initiatives now delivering, we’re well positioned for continued growth in FY26 and beyond.

“Thanks to our passionate team, loyal partners, and shareholders for their support on this journey.”

SEN acquired RSN in July. The AFR reported (subscription required) Hutchison lunched recently with Nine Head of Broadcast and Streaming Amanda Laing. With further speculation that Nine radio stations could be up for sale, or the opposite, and the network interested in SCA, there appears to be more than one ball on the ground at present.

SEG’s results can be found here: https://www.asx.com.au/markets/company/SEG