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Fairfax FY18 earnings update: digital remains the main driver - Venture Insights

Report Overview

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Fairfax FY18 earnings update: digital remains the main driver

PublisherVenture Insights.
Publish Date August 16, 2018
Sector Media.
Company Fairfax.

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Buy this Report

On 15^th August 2018, Fairfax Media reported its last full year earnings as an independent news publisher.

Digital assets remained the key driver of earnings while regional and community print continued its structural decline.

Some of the key highlights from the announcement included:

Revenue of A$1,684mn, down by 2.8% from the prior corresponding period
Net loss after tax of A$63.8mn, compared with a net profit of A83.9mn in the prior corresponding period
Significant items after tax totalling A$188.7mn loss, including restructuring and redundancy costs as well as write-downs across the value of its regional publishing business Australian Community Media and its New Zealand print and digital business Stuff
EBITDA (excluding significant items) of A$274.2mn up 1.2% from prior corresponding period
Net profit after tax (excluding significant items) of A$124.9mn down 1.2% from prior corresponding period
Earnings per share (excluding significant items) of 5.4cents down 12.4% from prior corresponding period