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Seven West Media FY18 earnings update: going all in on cricket - Venture Insights

Report Overview

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Seven West Media FY18 earnings update: going all in on cricket

PublisherVenture Insights.
Publish Date August 23, 2018
Sector Media.
Company Seven West Media.

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Buy this Report

On 21th August 2018, Seven West Media reported its FY18 earnings.

While an improving core business and focus on cost reduction delivered operating profits that were at the upper end of guidance, new programming and sports content is expected to drive ratings and financial performance going forward.

Some of the key highlights from the announcement included:

Revenue of A$1,621mn, down 3.4% from FY17.
Operating EBIT of A$236mn, at upper end of A$220-240mn guidance for FY18.
Over-delivered on cost out target with group costs down A$21mn
Operating Net Profit after Tax of A$142.5mn
Strong resurgence in ratings performance with ongoing momentum
Forecasting 5-10% underlying EBIT growth in FY19