24 August 2017: Nine Entertainment Co. (ASX: NEC) has reported the Company’s final results for the 2017 financial year (FY17). For the 12 months, the Company reported Revenue of $1,238m, Group EBITDA of $206m and Net Profit After Tax, pre Specific Items, of $124m. 

This is consistent with FY guidance issued in June and with the February guidance, ex licence fees. Statutory results included Specific Items of -$327m after tax, the majority of which were announced with the H1 result. Net Loss After Tax, inclusive of Specific Items, was $203m.

Highlights for the period include:
– Significant ratings improvement – 25-54s Network share of 37.1%1
– Improving revenue share as the year progressed
– Continuing cost discipline across each division, with group-wide costs down 1% and Free To Air (FTA) costs down 2% (6% incl licence fees)
– Once-off licence fee relief ahead of Media Reform legislation
– Over 4 million registered users of 9Now and approaching 800,000 active subs at Stan
– 114% growth in long form streams resulting in 40% growth in revenue at 9Now
– 5.0 cent fully franked final dividend, for full year total of 9.5 cents

“Our leadership position in key advertising demographics is continuing to strengthen as we progress through the calendar year. We are consistently growing advertising revenue share in FTA television, On Demand Television and Digital Publishing.

“At the same time, our group-wide focus on costs continues to reap rewards. Overall and Free To Air costs were down a further 1% and 2% respectively (excluding the impact of the long-awaited licence fee relief). Including licence fee relief, our group wide costs were down 5%.

“With a strengthening balance sheet, and significant operational momentum and leverage, Nine enters the new financial year in a much stronger position. Our focus on creativity and content has never been clearer.

“The options available for us to monetize our content have never been more diverse. The media world of the future is video-based and we are right at the forefront of it in Australia.”

Download the full media release below. 

Nine will be reporting its FY17 result on Thursday 24 August. Hugh Marks, CEO, will host a teleconference/webcast at 10.30am Eastern Standard Time.

Click here to access the webcast: https://edge.media-server.com/m6/p/c8vrg6az

Further information:
Nola Hodgson                                  
Head of Investor Relations              
+61 2 9965 2306                            
nhodgson@nine.com.au        

Nic Christensen
Head of Trade and Internal Communications
+61 4 04 460 607
nchristensen@nine.com.au