NZME - New Zealand Media & Entertainment

[Southern_Belle]

Does anybody else have this on their radar??? Took a hammering listing last Friday, currently down 20%. Tried to buy some this morning but got phone call from ASB securities to advise there was an error listing on the NZX and if I bought some, ownership wouldn't be transferred until July 5th.

What is that all about?

[macduffy]

No idea, but there's been over 3m traded this morning at around 80c.

[Joshuatree]

Incredibly quiet listing.Just read an article in this mornings herald about i and was going to ask a similar question re investment grade opinions etc. i see over 3000,000 through on the NZX this morn. ASB often has glitches so suggest the error may be with them. Listed re at 86c now 81c.
Settling with IRD the sum of $18.15 mill(halved withAPN)

NZ Herald ,Dom post, The Press etcNewstalk ZB,IHeart radio.Radio sport, Coast, ZM, hauraki ,The hits, etc

[Southern_Belle]

Incredibly quiet listing.Just read an article in this mornings herald about i and was going to ask a similar question re investment grade opinions etc. i see over 3000,000 through on the NZX this morn. ASB often has glitches so suggest the error may be with them. Listed re at 86c now 81c.
Settling with IRD the sum of $18.15 mill(halved withAPN)

NZ Herald ,Dom post, The Press etcNewstalk ZB,IHeart radio.Radio sport, Coast, ZM, hauraki ,The hits, etc Also have the GRAB ONE e-marketing business as well. Interested in Michael Boggs as CEO .....ex CFO @ TOWER Insurance and threw his hat in the ring for the top job there when Rob Flannagan left.

[percy]

Does anybody else have this on their radar??? Took a hammering listing last Friday, currently down 20%. Tried to buy some this morning but got phone call from ASB securities to advise there was an error listing on the NZX and if I bought some, ownership wouldn't be transferred until July 5th.

What is that all about?
If you go to the NZX site,NZME,announcements, you will see the timetable.
So no concern buying today,just the transfer will not go through until 5th July.
Only problem I can see is if doubt you would be able to sell until they have been transferred into your name.

[Beagle]

Bulk of the revenue and EDITDA seems to come from print media, i.e. N.Z. Herald. Could be a good opportunity if there's anyone left who thinks print media is a growth industry. Similar theme to it as Sky television in my opinion. N.Z. herald is suffering a death by 1000 cuts. Other assets seem okay. Of course expect them to try and reinvent themselves over and over again on the way down just like Sky are. My 2 cents.

[BlackPeter]

Had (triggered by a fellow investor) a brief look through their profile:

http://www.nzme.co.nz/media/1047/nzme-profile-27-06-16.pdf

This is basically a conglomerate of print media (NZ Herald as flagship), commercial radio stations and an internet platform (GrabOne - never heard of them before, might be another website going against trademe, but who knows).

Their "pro-forma" financials show a clear trend of dropping revenue and EBITDA (page 26 of above profile) consistent with the global trend in the printed news industry.

Given that print media (and that's in my view the only part of their portfolio with some quality assets) are rapidly shrinking, given that commercial radio is already full of ads up to the hilt (I stopped to listen to commercial radio decades ago - much better program for free on the internet) and given that it is really hard to compete with something new against e-bay and TradeMe am I not sure whether I would see them as a great investment.

Anyway - it looks like the markets feel similar - after a highly unprofessional stock market introduction does the SP drop like a stone. Sure - dead cat bounces might offer some opportunities for traders (IQE springs to mind ....), but I personally would not see them as a long term investment opportunity. Not sure what the potential merger with Fairfax would mean (again - speculative short term gains might be possible), but in my view too much risk and not enough likely rewards.

Discl: don't hold and happy to keep it that way; However - DYOR, I might be wrong ...;

[winner69]

I had to smile at the comment on the radio this morning when some guy said he noted that APN had 'gifted' NZM some $100m of debt

[Jaa]

Let me insert a bit of positivity...

If the commerce commission allows the merger with APN's NZ assets, NZME will be the dominant media company in NZ. I assume they will merge nzherald.co.nz and stuff.co.nz and institute a paywall which will have a reasonable chance of working and should stabilise the print business. Which serious business person or investor will not pay to access their content online?

Their radio assets are very profitable and will provide them the space to stabilise and turnaround their print/online assets while paying a dividend.

Following the merger NZME will have the marketing muscle to grow strongly in the digital space. They have just released a Herald Homes app for real estate and driven.co.nz which provides free car listings. Both are attempts to wrest back market share from Trademe.

As a country we need NZME to succeed so I am hoping they can stabilise and begin growing again.

[percy]

www.stuff.co.nz is a complete waste of time.Scales recently held their agm in Christchurch.Was not reported in The Press.
The Press business section is more a lifestyle couple of pages.Very poor articles.
As a serious investor I would not pay to read business content.
I cancelled The Sunday Star Times as it is now hopeless.When they had Tim Hunter [now NBR] you got the odd decent article.
The NZ Herald has some good articles,however I would again not pay to read them.
I used to read The Australian until they put up a pay wall.Have not missed it.
Don't know who owns it but www.scoop.co.nz have reliable up to date business news.
Any way as an investor I am best reading company announcements,which are available via www.nzx.co.nz.
As for ever wanting to listen to Paul Henry or Mike Hosking, the answer is never.

[Jaa]

www.stuff.co.nz is a complete waste of time.Scales recently held their agm in Christchurch.Was not reported in The Press.
The Press business section is more a lifestyle couple of pages.Very poor articles.
As a serious investor I would not pay to read business content.
I cancelled The Sunday Star Times as it is now hopeless.When they had Tim Hunter [now NBR] you got the odd decent article.
The NZ Herald has some good articles,however I would again not pay to read them.
I used to read The Australian until they put up a pay wall.Have not missed it.
Don't know who owns it but www.scoop.co.nz have reliable up to date business news.
Any way as an investor I am best reading company announcements,which are available via www.nzx.co.nz.
As for ever wanting to listen to Paul Henry or Mike Hosking, the answer is never.

Agreed stuff business is a waste of time. NZherald Business and Liam Dann are better but they have been going backwards too. Which is my point, both media groups need to do something.

NZX announcements provide no insight into the issues companies are facing or oversight of the games companies play. Maybe best just to subscribe to Intelligent Investor?

I would ditch the stuff brand which is looking tired and the name is a bit 90s and transfer The Press, Dominion Post and Sunday Star Times content to NZHerald.co.nz.

Scoop just republishes NZ press releases with the odd opinion column mixed in. Lets hope that isn't NZME's future content strategy too!

[King1212]

http://www.nbr.co.nz/article/nzme-shares-unpopular-during-first-hour-nzx-ca-190859

[King1212]

I did heaps of reading and comparison last week and decided to jump on board couple days a go before the SP spiked. Good decision made by my wife...looking forward for their report this august. :t_up:

[King1212]

https://www.nzx.com/files/attachments/242332.pdf

Decreasing revenue....as I suspected TJ...lucky I got out at 94c.....thanks to convenience me to sell TJ!:t_up:

[trader_jackson]

https://www.nzx.com/files/attachments/242332.pdf

Decreasing revenue....as I suspected TJ...lucky I got out at 94c.....thanks to convenience me to sell TJ!:t_up:

Yes, I am not to sure long term this is the best investment opportunity... Heartland on the other hand ;)

[Hectorplains]

Yes, I am not to sure long term this is the best investment opportunity... Heartland on the other hand ;)

Word is they'll run all the papers under the Herald banner, with a couple of pages of local news. Who's going to buy this? There loyal audience is of aging readers - who will be further alienated by this move.

[trader_jackson]

https://www.nzx.com/files/attachments/242332.pdf

Decreasing revenue....as I suspected TJ...lucky I got out at 94c.....thanks to convenience me to sell TJ!:t_up:


Certainly not a bad thing to get out at 94 cents at all after today!

After today's material announcement, and lack of reaction on here to it, it really looks like not 1 single person on this thread owns any NZME... just as well (in my view) ;)

[King1212]

Certainly not a bad thing to get out at 94 cents at all after today!

After today's material announcement, and lack of reaction on here to it, it really looks like not 1 single person on this thread owns any NZME... just as well (in my view) ;)

yes..TJ..it was a quick profit 20%gain...;)

[arc]

So.. whats the current thinking on NZME.

[sb9]

https://nzx.com/companies/NZM/announcements/300555

There we've it, the decision is NO to merger.

[BlackPeter]

https://nzx.com/companies/NZM/announcements/300555

There we've it, the decision is NO to merger.

Buying opportunities coming up? Whatever it is, I am sure they will be cheaper tomorrow that they are today ...

[Joshuatree]

A no win situ? Sounds like 100's of jobs will go with or without the merger and the dumbing down of media content continues unfortunately.Jeepers some weeks back i watched the TV3 news and the 1st item at 6 o'clock was about a tourist caught pooing in the gutter on a security cam!!!??:eek2:

[JeremyALD]

Why does it take the Commerce Commission a year to make a decision? It's a waste of everyone's time and money.

[RTM]

I guess this means Sky Vodafone deal will also be dead. So SKY SP might suffer a bit as well.

[hardt]

I guess this means Sky Vodafone deal will also be dead. So SKY SP might suffer a bit as well.

ComCom already rejected the SKY merger... I beleive Sky/Voda have decided to appeal the decision.

Commerce Commision takes 400 days, tens of millions of dollars creating a report justifying their position which they had likely made within in the first month of the proposal coming through...

[RTM]

ComCom already rejected the SKY merger... I beleive Sky/Voda have decided to appeal the decision.

Commerce Commision takes 400 days, tens of millions of dollars creating a report justifying their position which they had likely made within in the first month of the proposal coming through...

Nevertheless....SKY down 3.7% today.

[DarkHorse]

Oh the wonders of bureaucracy. Check out this Sunday Herald article on Worksafe's official guidelines for Easter Egg Hunts - hilarious!
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11846024

[Joshuatree]

Rod Oram has made a statement by choosing not to write for Fairfax anymore.
Why I’ve stopped writing for @FairfaxMediaNZ


KIWIKI (https://www.facebook.com/Kiwiki-212299210904/)·TUESDAY, MAY 9, 2017 (https://www.facebook.com/notes/kiwiki/why-ive-stopped-writing-for-fairfaxmedianz/10154499361671709/)https://www.facebook.com/rsrc.php/v3/yf/r/g_kf1vXYV_O.png



Sunday’s was my 764th column for the Sunday Star-Times over the past 16 years.
Regrettably, it was also my last. I have resigned over editorial differences with Fairfax Media.
Thank you for following my columns, and contributing your thoughts and responses to them.
I’ll resume my normal service elsewhere soon.
All the best
Rod

[Joshuatree]

They made him reduce from 1200 words to 600 (he got 700). They removed his recent article without consulting him; he may have got it reinstated not sure.Anyway good to know he will continue elsewhere .The dumbing down of the media continues.

[percy]

I notice a lot of buyers linning up today,but with few sellers. it means I remain "well positioned."

[percy]

The result was interesting.The slower decline in print was a surprise.
A credible result.
The huge fully imputated dividend looks sustainable.

[Beagle]

They are certainly making a much better go of it in terms of sustaining revenue and profit than SKY who offer a similar very high dividend yield.
I think SKY's cut of the dividend the other day from 15 cps to 12.5 cps is a sign of things to come for them and in the short term investors can at best hope for circa 25 cps fully imputed annually which at around $2.93 yesterday puts them on a gross yield in the short term of (25 / 0.72) / 293 = 11.85%. I think that yield comes under medium term pressure.

On the other hand it does appear NZME is in better shape to maintain their annual fully imputed dividends of 9.5 cps which puts them on a gross yield of (9.5 / 0.72) / 95 = 13.89%. There's clearly possible upside to that if they can win their appeal against the Commerce Commission ruling.
Disc: Own a modest stake in NZME for dividend income.

[percy]

They are certainly making a much better go of it in terms of sustaining revenue and profit than SKY who offer a similar very high dividend yield.
I think SKY's cut of the dividend the other day from 15 cps to 12.5 cps is a sign of things to come for them and in the short term investors can at best hope for circa 25 cps fully imputed annually which at around $2.93 yesterday puts them on a gross yield in the short term of (25 / 0.72) / 293 = 11.85%. I think that yield comes under medium term pressure.

On the other hand it does appear NZME is in better shape to maintain their annual fully imputed dividends of 9.5 cps which puts them on a gross yield of (9.5 / 0.72) / 95 = 13.89%. There's clearly possible upside to that if they can win their appeal against the Commerce Commission ruling.
Disc: Own a modest stake in NZME for dividend income.

I am not concerned about the merger with Fairfax.
Yes it may be good.
However, I think NZM will prosper without Fairfax.
And yes a very different kettle of fish to Sky TV.

[percy]

I sold out on Thursday and Friday,to fund further purchases of LOV,AQZ and ATL in Aussie.
These three companies' eps growth is higher than their PE ratio.
Peat's post #884 on EBOS thread, where he said he thought the NZ$ would weaken against the Aussie $, also influenced my decision.
Thanks Peat. I value your opinion on currency.

[Beagle]

Very quiet thread so time for a bump. I thought the result the other day was pretty resilient. Initiatives on the digital front will apparently include a paywall on N.Z. Herald this year, expansion of some of the content of their websites and radio is trucking along okay.

Pleased that they have maintained their fully imputed annual dividend rate at 9.5 cps which is a gross dividend of 9.5 / 0.72 = 13.194 cps which on a 78 cent SP = gross dividend yield of 16.92%, probably the NZX's highest, (and I would argue sustainable for the foreseeable future).

They could win their appeal and I think the market is presently saying there is no possibility whatsoever of that happening. Even if they don't I think initiatives on the digital, radio and other fronts should see the dividend sustainable going forward.

I maintain a modest stake for a dividend yield boost to my portfolio. Presently trades at 78 cents cum the final divvy of 6 cps.

[percy]

I sold out on Thursday and Friday,to fund further purchases of LOV,AQZ and ATL in Aussie.
These three companies' eps growth is higher than their PE ratio.
Peat's post #884 on EBOS thread, where he said he thought the NZ$ would weaken against the Aussie $, also influenced my decision.
Thanks Peat. I value your opinion on currency.

Brought back in today.
Recycling funds from the sale of a number of spec Aussie small cap stocks I recently sold.
So far I have brought RBC and SLI,neither of which are paying a divie,so NZM's fat divies will be welcome.

ps.Still holding the LOV,AQZ,and ATL in Aussie.

[Beagle]

Welcome back Percy. I have been quietly accumulating more at 77 and 78 cents myself since my last post in February. I guess if you're a dividend hound at heart its very hard to resist such a fabulous dividend yield :)
P.S. I recycled my Turners convertible note sales a while back into ATM at about $9, pretty happy with that decision :D

[percy]

I actually think there are good growth prospects for NZM,cross selling digital,print and radio.
I am pleased the Fairfax merger is to be renegotiated.I think it is in NZM's shareholders interest that no merger takes place.Why buy today something you don't reallt need and can buy it tomorrow under half price.?
ATM.Been a bit put off them since I did not buy them at 17 cps, when a friend told me to...lol.

[couta1]

Hey Percy, regarding ATM, sometimes eating some humble pie is the best medicine, can end up filling up you tummy nicely once it's gets past your mouth.

[percy]

Hey Percy, regarding ATM, sometimes eating some humble pie is the best medicine, can end up filling up you tummy nicely once it's gets past your mouth.

Director at the time Cliff Cooke was on my never again list.
Also I have never understood A2 as half the cows in NZ are either A1 or A2.?
So what would stop Percy Tasmanian Dairy products offering a choice of Percy Go and Percy Go-plus.or Guernsey and Jersey.
Customers would soon spot the difference,as one would be A1 while the other would be A2.
Owning a great number of farms it would be a piece of cake separating the herds after testing whether they were A1 or A2.
The hype seems a lot like water beds to me.

[couta1]

Director at the time Cliff Cooke was on my never again list.
Also I have never understood A2 as half the cows in NZ are either A1 or A2.?
So what would stop Percy Tasmanian Dairy products offering a choice of Percy Go and Percy Go-plus.or Guernsey and Jersey.
Customers would soon spot the difference,as one would be A1 while the other would be A2.
Owning a great number of farms it would be a piece of cake separating the herds after testing whether they were A1 or A2.
The hype seems a lot like water beds to me. Won't clutter this thread by going into detail by answering those questions as they have been answered on the ATM thread, needless to say, they have first mover advantage, massive momentum and to date have continued to over deliver.

[percy]

A schocker.

[Benny1]

A schocker.
Yep, thought if they pulled up OK I would add to my reasonably small holding.... That's not going to happen on that result..
Hmmm...ATL had a good result Percy.. Maybe get back on board those campervans!

[percy]

Yep, thought if they pulled up OK I would add to my reasonably small holding.... That's not going to happen on that result..
Hmmm...ATL had a good result Percy.. Maybe get back on board those campervans!

ATL was an excellent result with a very strong outlook.
However the huge increase in debt,and the size of it, is a very real concern.

[Beagle]

Didn't have much time this morning but to my mind based on the presentation the company didn't clearly articulate how they are going to turn around this shock fall in earnings.
I get it that they are investing in digital platforms for the future but does that come at the expense of halved profits for the foreseeable future and reduced dividends ?
Reduction in dividend from 3 cps to 2 cps suggests that dividends will be lower going forward and that we might see a similar one third cut in the usual whopping final dividend.
I only bought a very modest stake for its yield and was pleased to be able to extricate myself from it this morning at 79 cents.

[Brain]

Always best to invest in companies with tailwinds.

[percy]

Didn't have much time this morning but to my mind based on the presentation the company didn't clearly articulate how they are going to turn around this shock fall in earnings.
I get it that they are investing in digital platforms for the future but does that come at the expense of halved profits for the foreseeable future and reduced dividends ?
Reduction in dividend from 3 cps to 2 cps suggests that dividends will be lower going forward and that we might see a similar one third cut in the usual whopping final dividend.
I only bought a very modest stake for its yield and was pleased to be able to extricate myself from it this morning at 79 cents.

You did well....

[Beagle]

You did well....

Thanks Percy. Only had a brief read of presentation this morning, (more interested in AIR), hopefully shoot first and ask questions later was the right move.

[percy]

I too find it very difficult to make "serious" decisions with so many announcements coming through at this time.
The sell decisions however, must be made straight away,as you did this morning,before buyers run for the hills.
First read of them is usually correct.

ps.I had them,sold them, and have them on a watch list to buy back in.Was thinking 70 cents to 75 cents when they were trading at 84 cents.About to take them off the watch list as I now have no idea what they are worth.,

[James108]

I have been interested in this business for a while however wasnt aware of it when they were trading at very attractive prices so never pulled the trigger. I look at NZME as two groups, the declining part (print) and everything else (radio, digital). However they are interconnected.

So what is the value of the declining part of the business? Questions we have to ask, is NZherald the dominant masthead in NZ? will print dissapear? how long until print becomes uneconomical? How long after it becomes uneconomical will shareholders be paying for it before it gets canned? What will happen to journalism and where will people get their news if print dies?

One thing I firmly believe is that journalism in NZ will survive and therefore the 'News' part of NZME is worth something.

So in what form will this happen? One possible outcome, smaller papers fall by the wayside and views/subscribers get aggregated to the larger papers (i.e. NZherald, stuff). When I had a girlfriend in the Waikato I noticed the Waikato Times is absolutely trash, I can only imagine the smaller papers are worse.

If I were to try and value the business I think the conservative (from valuation perspective) is print declines and the digital gets a corresponding increase (albeit at much smaller revenue). Value of radio can be added seperately, digital is interdependent on print. If the SP dropped to a price where radio + digital alone justifies the SP, it would be a buy from me and make the valuation much simpler.

Sorry for rambling post, sometimes I find it useful to get my thoughts down on paper, I would be interested in hearing peoples opinion on the dominant (most popular not best journalism) source of news in NZ (i.e. is stuff better than nzherald.co.nz?).

[winner69]

Interesting thought James

You say - One thing I firmly believe is that journalism in NZ will survive.

In respect to NZME some might call it ‘journalism’ ....many would disagree

[Beagle]

They need to urgently monetize the N.Z. Herald website. They keep giving away news for free, (I'll take the moral high ground for once and leave the standard of journalism, whatever view you have of it, out of this debate)

[James108]

They say they are going for a 'freemium' model, which sounds like you have to pay for proper journalism but all the trashy/easy stuff is still free. I think this is the right move, especially if stuff follow. Complete paywall would alienate most of NZ and be bad for NZME (as well as our democracy imo).

I agree their journalism is a mixed bag but overall net positive NZ.

[winner69]

They need to urgently monetize the N.Z. Herald website. They keep giving away news for free, (I'll take the moral high ground for once and leave the standard of journalism, whatever view you have of it, out of this debate)

Mightn’t get many prepared to pay ......because of the second part of your post

[Patient Panda]

So what is the value of the declining part of the business? Questions we have to ask, is NZherald the dominant masthead in NZ? will print dissapear? how long until print becomes uneconomical? How long after it becomes uneconomical will shareholders be paying for it before it gets canned? What will happen to journalism and where will people get their news if print dies?



So in what form will this happen? One possible outcome, smaller papers fall by the wayside and views/subscribers get aggregated to the larger papers (i.e. NZherald, stuff). When I had a girlfriend in the Waikato I noticed the Waikato Times is absolutely trash, I can only imagine the smaller papers are worse.




Yes NZ Herald is the dominant masthead in NZ unless you consider Stuff a masthead then NZHerald is 2nd. ODT is NZ’s only independant and has a very loyal subscriber base who are very willing to pay, they also spend by far the most on journalists so could be interesting to compare the different models going forward.

Yes Print will disappear for the majority of papers. The smaller ones going much faster.

from what I have seen it does not take long for an uneconomic cog in the wheel to be discarded e.g papers sold or shut down. Often times a non performing print asset is sold to the editor who believes they can turn it around or squeeze more juice out.

You are right about the aggregation to larger papers in the short to mid term

[arc]

Looks like this one may have reached bottom / stability .?
The machine tells me there has been an increase in both numbers and sizes of parcels crossing, apparently yesterday 5,000,000 went through as a placement.

[steveb]

I do remember picking up some shares at .50c after the merger fell through,at the time NZME were making money,perhaps now they might be able to approach the commerce commision again,and try for a merger with Stuff again,circumstances have certainly changed.

But as to reaching bottom that .50cent mark still looms large.

Disc no longer holding

[BlackPeter]

Looks like this one may have reached bottom / stability .?
The machine tells me there has been an increase in both numbers and sizes of parcels crossing, apparently yesterday 5,000,000 went through as a placement.

You must be a brave man defining a bottom for a company with consistently dropping revenue (well, that's what the analyst consensus says).

I guess - sure, their price should resemble the DCF value of a shrinking income stream and some of their assets (staff, archives) will have some value if the current revenue streams totally dries up as well ... but how much this is I would not know.

Possibly a worthwhile trade (if you get the timing right), but not sure I'd see them at this stage as a long term hold.

[Beagle]

Over 11m shares just changed hands at 65.3 cents per share. Big end of town reckons this is the right price at present. I'm not tempted to get back on this horse at that price. Hasn't proved to be a happy hunting ground for this Beagle so I'll leave it to others to try and make a buck.

[percy]

Impossible for me to work a price I would buy in [again], with the increasing eps downward spiral trajectory gaining momentum.

[Beagle]

There's easier places to make a buck that's for sure !

[winner69]

Solid up day today ...even though a disaster of a day on the bourse

That Allan Gray seems to have sold another big chunk.

Is it all onwards and upwards from here

[Patient Panda]

Solid up day today ...even though a disaster of a day on the bourse

That Allan Gray seems to have sold another big chunk.

Is it all onwards and upwards from here


Watchout for the underlying business Winner. i work at one of NZME’s competitors and their business has comparable headwinds to the tailwinds the retirement sector enjoys.

Their paper division is very very heavily weighted towards the older generations and all the time they are passing on or getting cataracts or going blind and cancelling. Younger generations generally will not pay for news papers online or in print.

[Beagle]

NZME are "very keen" to try and stem the tide with their flagship paper the NZ Herald. So keen they offered me a $100 petrol voucher to take a 13 week subscription at $7 a week. These figures are not typo's. That's right, they paid me $9 to have 13 weeks of the N.Z. Herald "delivered" earlier this year.
"Delivered" is wrapped in plastic and thrown on my driveway and over winter resulted in probably something like 25% of papers effectively being wet, which went straight into the recycling as I couldn't be bothered wasting my time phoning up to get another rag delivered.


Anything that's worthwhile reading is already online and is more environmentally efficient. Until they stop giving that away for free on their website I cannot see any compelling reason to get the Herald delivered unless you like reading all the advertisements. As you suggest PP, I think its mainly older people that still get the Herald delivered.

[trader_jackson]

https://www.nzherald.co.nz/bay-of-plenty-times/news/article.cfm?c_id=1503343&objectid=12120301

Wow. Fantastic stuff. Look how great this is.

Massive numbers, year on year increases, huge growth, best selling... never mind EPS and stuff

No wonder the share price is soaring ahead today, over $1 in no time, in fact probably knocking on that dog ARV's door soon no doubt.

[Beagle]

https://www.nzherald.co.nz/bay-of-plenty-times/news/article.cfm?c_id=1503343&objectid=12120301

Wow. Fantastic stuff. Look how great this is.

Massive numbers, year on year increases, huge growth, best selling... never mind EPS and stuff

No wonder the share price is soaring ahead today, over $1 in no time, in fact probably knocking on that dog ARV's door soon no doubt.

Its funny they don't tell you how many thousands of $100 fuel vouchers they've had to give away to "buy" that growth lol

[Beagle]

http://www.sharechat.co.nz/article/f768c03e/renaissance-optimistic-about-nzme-foray-into-digital-classifieds.html?utm_medium=email&utm_campaign=Renaissance%20optimistic%20about%20NZ ME%20foray%20into%20digital%20classifieds&utm_content=Renaissance%20optimistic%20about%20NZM E%20foray%20into%20digital%20classifieds+CID_43f6a e1474c43feec6cb55d134207d8a&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticlef768c03erenais sance-optimistic-about-nzme-foray-into-digital-classifiedshtml

A different perspective.

[percy]

http://www.sharechat.co.nz/article/f768c03e/renaissance-optimistic-about-nzme-foray-into-digital-classifieds.html?utm_medium=email&utm_campaign=Renaissance%20optimistic%20about%20NZ ME%20foray%20into%20digital%20classifieds&utm_content=Renaissance%20optimistic%20about%20NZM E%20foray%20into%20digital%20classifieds+CID_43f6a e1474c43feec6cb55d134207d8a&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticlef768c03erenais sance-optimistic-about-nzme-foray-into-digital-classifiedshtml

A different perspective.

Interesting.
thanks for the link.

[Timesurfer]

A different perspective.

Interesting take. I am not so convinced.
We have seen a number of attempts to take on TradeMe come and go.
Maybe they will have the financial wherewithall to run at a loss long enough to reach critical traffic mass, but it is a long road and looking at the jobs website I can't say I was overly impressed.
Time will tell.

[Patient Panda]

http://www.sharechat.co.nz/article/f768c03e/renaissance-optimistic-about-nzme-foray-into-digital-classifieds.html?utm_medium=email&utm_campaign=Renaissance%20optimistic%20about%20NZ ME%20foray%20into%20digital%20classifieds&utm_content=Renaissance%20optimistic%20about%20NZM E%20foray%20into%20digital%20classifieds+CID_43f6a e1474c43feec6cb55d134207d8a&utm_source=Email%20marketing%20software&utm_term=httpwwwsharechatconzarticlef768c03erenais sance-optimistic-about-nzme-foray-into-digital-classifiedshtml

A different perspective.


Why take the hard road of uncertainty when theres easy wins and low hanging fruit?

[errornz]

Not the most popular stock. But its looking like good value right now. Anyone elses thoughts?

[Lease]

Not the most popular stock. But its looking like good value right now. Anyone elses thoughts?

I have just read their financial statements. Revenue has been declining year-by-year over the last five years, so as profit. If the company didn't do some radical changes, they would not be going to survive.

[Beagle]

Sunset industry and this company still with too much debt. Value trap in my opinion. Looks cheap and is, but for profoundly good reasons and likely to remain so for the foreseeable future. Only one analyst covers it and reckons its worth 50 cents https://www.marketscreener.com/NZME-LTD-31257664/financials/
From a technical perspective the chart looks ugly and says stay away which is what I am doing. My 2 cents.
Shuffling the deck chairs on the Titanic, opps sorry NZME deck https://www.msn.com/en-nz/money/business/shuffling-the-c-suite-chairs-at-nzme/ar-AAJgdp5?ocid=spartandhp

[bull....]

herald owner really desperate to get stuff now

NZME requests urgent Government actionhttps://www.nzx.com/announcements/352929

herald crap now and you have to pay for that crap , be even worse without competition

[winner69]

herald owner really desperate to get stuff now

NZME requests urgent Government actionhttps://www.nzx.com/announcements/352929

herald crap now and you have to pay for that crap , be even worse without competition

Not asking for government money to pay the $1 acquisition cost:t_up:


But they both got heaps recently

[bull....]

NZME seeks interim injunction against Stuff-owner Nine Entertainment
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12332024

desparate herald , they must think stuff news is good. i do

[jonu]

NZME seeks interim injunction against Stuff-owner Nine Entertainment
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12332024

desparate herald , they must think stuff news is good. i do

I don't.

Regardless, very strange behaviour from NZME. Nine say they never agreed to a $1 takeover, and don't intend to shut it down. And apparently want nothing further to do with NZME.

[nztx]

Regardless of what they say, Stuff remaining separately owned & not part of NZME is best in competitive markets
and also for readers, advertisers & community at large.

The media have only themselves to blame for the way they are perceived, or recent declining performances

News & Article quality & content has been declining over past 20 years to shadow of it's former self with many papers etc

NZME papers are the worst culprits in this decline. Paywalls serve on P**** off many readers
I'm sick & tired of seeing great bulk of worthwhile interest articles on NZH & other NZME sites hidden behind paywalls.

That straight away sends many off to Stuff, the Aussie sites, Reuters, CNN or elsewhere

Stuff's Sunday Star is very good reading & I would be disappointed to see Stuff become part of the NZME run down poorly performing Stable

The independent smaller media companies by and large are producing far better content etc than the big two incumbents in the market (although there aren't many of these)

[sb9]

Regardless of what they say, Stuff remaining separately owned & not part of NZME is best in competitive markets
and also for readers, advertisers & community at large.

The media have only themselves to blame for the way they are perceived

News & Article quality & content has been declining over past 20 years to shadow of it's former self with many papers etc

NZME papers are the worst culprits in this decline. Paywalls serve on P**** off many readers

Stuff's Sunday Star is very good reading & I would be disappointed to see Stuff become part of the NZME run down poorly performing Stable

The independent smaller media companies by and large are producing far better content etc than the big two incumbents in the market (although there aren't many of these)

+1 for that, couldn't agree more. Most of NZH articles are simply click bait and every bit of new info is breaking news.

[bull....]

just tried to listen to grant robinson on herald website didnt even work. crap arse site and . why do i have to wait to read a story to 9 am sometimes on the weekend tell your journalists to get out of bed earlier to get the news up esp in the business section in the morning slack

[RTM]

Regardless of what they say, Stuff remaining separately owned & not part of NZME is best in competitive markets
and also for readers, advertisers & community at large.

The media have only themselves to blame for the way they are perceived, or recent declining performances

News & Article quality & content has been declining over past 20 years to shadow of it's former self with many papers etc

NZME papers are the worst culprits in this decline. Paywalls serve on P**** off many readers
I'm sick & tired of seeing great bulk of worthwhile interest articles on NZH & other NZME sites hidden behind paywalls.

That straight away sends many off to Stuff, the Aussie sites, Reuters, CNN or elsewhere

Stuff's Sunday Star is very good reading & I would be disappointed to see Stuff become part of the NZME run down poorly performing Stable

The independent smaller media companies by and large are producing far better content etc than the big two incumbents in the market (although there aren't many of these)

I was shocked at the standard of questioning at the Jacinda / Ashley press conferences. Just appalling, I wanted to shake them.
And then they have their hand out looking to Government to restructure their sector. Hardly worth it. Was interested to see the self interest / preservation when those discussions surfaced early on.

[bull....]

amazing this stock owner of the crap herald where they sleep in on the weekends is up 65% in a week lol

[bull....]

sometime lovely how these mutts pay well

[JSwan]

Was not expecting a huge sp move today, thought the announcement today was just OK

[nztx]

Was not expecting a huge sp move today, thought the announcement today was just OK

Agreed .. didn't see too much really floor shakingly exciting in the announcement.. but it may be better than many were expecting

No Cap Raise just yet -- online seems to be gaining - to be expected in current times

Obviously reserved cash from depreciation & other non cash adjustments is being applied to debt paydown

Past that, there is stuff all residual profit even now to do it further

Online premium version of NZH is I note free bonus offering in places, where some still have subs to the printed regionals

How far off until they pay a Div again ? 2026 or 2056 .. ? ;)

As for SP rise .. after the BGI ongoing saga, nothing would surprise

The Aussie Fund managers have an ongoing interest in NZME & reside on the Registry

But for the bouncey bouncey they may have feared upon wearing a large briefcase of Red Ink
as interest in NZME fell back previously..

Plenty of dough & spare time out there in places .. concentration of a crowd out there could do similar almost anywhere
& just as rapidly evaporate as well .. on small volumes with circa 196.5 mil shares on issue, volatility doesn't surprise

Investors / traders could have done very well riding out the lows & highs with NZME over past months

Pretty much crucified any red ink out of past NZME forays in more recent months .. thank you very NZ for ME muchly

May be back for more NZ for ME for another ride to see where things go, even if I find the now Un-Stuffed News
far more friendly now..

[bull....]

Investors / traders could have done very well riding out the lows & highs with NZME over past months



yea good technicals on this for trading triple bottom around 20c led to the first spike in june ( which i was crowing about lol ) and then a basing rounding around mid 20c range last mth led to people thinking a lower low might happen. hence the big spike yesterday of the slight rise from the base. might even get a bit more today finishing on the highs?

[bull....]

got our good open lets see how it plays out

[bull....]

nearly doubled in price since my last update and the momentum continues lol funny as a think the herald sucks but who cares as long as the price goes up

Momentum builds as NZME releases three-year strategy
https://www.nzx.com/announcements/363265

[nztx]

How much of the bounce & turnaround in NZME fortunes is a one off post Covid-19 bounce alone
& possibly not an ongoing growth in activity into the future periods on a consistent upwards basis ?

We know that with reopening from Covid-19 lock down there must be a bounce ; however
does anyone see this continuing ongoing ? ;)

Surely there must be limits on Business available readies to throw at Media promotions
and at some stage this eases off ? ;)

Sorry to P*** on NZME's thunder .. but really - straight out of Lockdowns and suddenly
NZME come out with everything glowing & growing on a three year plan ahead ?

What has really changed ar NZME aside from the inhouse Company bods suddenly seeing &
dreaming of grasping for distant glowing stars ? ;)


Discl: Holder

[James564]

Noticed over last few month or so they’ve been hiring web and software developers and have changed their frameworks to much better ones, they’ve never really actually hired developers before only contracted out

[nztx]

Let's look at the economic backdrop in which NZME are trading & suddenly finding
vision of newfound financial prosperity -

* No overseas tourists
* Hospitality & Tourism devoid of foreign patronage trying to reinvent themselves for local patrons
* No overseas students coming in
* A swathe of lay-offs & jobs gone / with some transition into lower skill jobs
* An avalanche of cheap money out there
* Residential Property & Sharemarket on fire
* High & rising Residential Rents
* Limitations on some Imports - Airfreight Space availability
* A changed / very much reduced Marketplace for Advertising post Covid-19 IMO

Little doubt there is pain in places out there - some businesses fighting for survival
or closing up.

In this sort of environment I may be wrong but see temporary bounce coming out of
2 lock-downs in Auckland area - one elsewhere - but not necessarily longer sustained
similar level of growth or the portrayed vision of grand financial prosperity for the
NZME empire.

What has happened all of a sudden to change things ? Money for Promotional out there
& availability will have limitations (ie not a proverbial gold pot being poured regardless
of results for advertisers into the NZME coffers)

No real noticeable changes to formats of NZH or Local Rags - the online NZH
with Premium content is bound to continue be turning off casual site visitors
against the privatised NZ owned more viewer friendly Stuff who are far more generous
with their Content & without the annoying NZH type pay to view doors and less
Advertising content on their site pages.

If it is indeed true the NZME future prosperity visions pan out & turn out to be on the money
- then why haven't they done it sooner, as in many years ago ?

Did some Aussie Investment Fund rock the NZME board table violently to wake everyone up
to their expectations ? We know that the Investment Fund vultures have been playing - from reports
filed of their holdings landing on NZX of recent times..

At just 196.5 million shares NZME would appear to be susceptible to SP movements based on
a bit of foreign vulture funds activity - wouldn't it ? ;)

[Getty]

Good points & observations there nztx.

It does seem an odd time to be pulling rabbits from the hat.

[Jaa]

Some counter arguments:

* Booming property market will have a large impact. Property ads are a large source of their advertising dollars.

* Online ad rates are at record levels.

* Their subscription model might be working. Much of the worthwhile internet is disappearing behind paywalls normalising paying for content. This will only accelerate as privacy concerns place more restrictions on online advertising. NZME is well positioned for this.

[TheHunter]

Did anyone else note their treatment of the Wage Subsidies in their H1 results? I was surprised it was included in their 'Like for Like' revenue metrics and operating results. To me this is an exceptional item; quite a different H1 result without this.

Disclaimer: recently sold at a healthy profit.

[nztx]

Now out & banked a good gain in excess of any invisible NZME possible Div - NZME has been very kind

I have thoughts on whether the forward newfound prosperity being grasped at may in fact materialise
so now watching from a safe distance .. & into better known prospects elsewhere ;)

[nztx]

Back from the Dead & looking forward:

https://www.nzx.com/announcements/368074

Buried deep in the rest of the Post Mortem & Future Crystal Ball spiel on the 31 December 2020 year here -

NZME LIMITED 2020 FULL YEAR FINANCIAL RESULTS

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZM/368074/340994.pdf


"NZME reports 3% growth in 2020 Full Year Operating EBITDA1 to $67.3 million."



"2020 Full Year Operating NPAT1 of $22.0 million and Operating Earnings per Share (“EPS”)1
of 11.1 cents, an increase of 2.3 cents per share compared to 2019. "

Well - with no im-pear-ments to make things look like a submarine - anything would be an improvement .. ;)


Net Debt reduced by $40.9 million to $33.8 million and leverage ratio reduced to 0.6 times Operating EBITDA1.


Well where else would the Cash from operations go (unless someone took it out in their briefcases
or the Business Reporters all needed new lappies & phones) .. ;)



"Given the significant reduction in debt, and based on this outlook and NZME’s capital requirements, the Board expects to be able to return to payment of dividends in the second half of 2021. "

Let's repeat that one:

"Given the significant reduction in debt, and based on this outlook and NZME’s capital requirements, the Board expects to be able to return to payment of dividends in the second half of 2021. "

The influx of Vulture Funds camping up on the Share Register seem to like the look of things
so maybe NZME is well on the track to normal existence again .. ;)

They're never wrong - are they or are they ? ;)

[nztx]

Looks like someone has developed a taste for a slice of Daily Rag & Radio empire - NZME recently ..

or perhaps the Vulture Funds are back again playing 'stack a stake' ahead of NZM returning to Div Paying status ? ;)

[nztx]

An interesting chart .. SP got kicked over the buck line in the past week

looks like the Vulture Funds are having a good play with NZME .. ;)

[Dlownz]

NZ Herald readership growth hits new records
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12470912
Going from strength to strength.
Good little write up about themselves.
How many on this forum are subscribers as more and more ditch the paper and go online.

[mistaTea]

NZ Herald readership growth hits new records
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12470912
Going from strength to strength.
Good little write up about themselves.
How many on this forum are subscribers as more and more ditch the paper and go online.

I subscribe to the Herald.

Initially I agreed to keep the Saturday paper delivery as there really is hardly any price difference between a straight digital sub or a digital sub + Saturday delivery.

However, I was never reading the physical paper as I consume all my news online. After a while it got to the point where they would deliver the paper, I would go outside, pick it up and throw it straight in the recycling bin. The paper never even made it inside the house.

So eventually I got off my a$$ and called them to cancel the physical paper. The guy was going to offer me the paper add on for even cheaper if I kept it going. But it really wasn't a price thing (as I say, the digital only sub is not that much cheaper). It's just that I never used the paper so it seemed so wasteful.

Interesting that they still try to push the physical paper though.

I can see oldies and businesses still wanting the physical paper. But the vast majority of people under 50 just want digital now I reckon.

[nztx]

Ex 3.0 cps Div today & SP still rose to 1.01 .. must still be an appetite for the Daily Rag Publisher out there ;)

[Habits]

I subscribe to the Herald.

Initially I agreed to keep the Saturday paper delivery as there really is hardly any price difference between a straight digital sub or a digital sub + Saturday delivery.

However, I was never reading the physical paper as I consume all my news online. After a while it got to the point where they would deliver the paper, I would go outside, pick it up and throw it straight in the recycling bin. The paper never even made it inside the house.

So eventually I got off my a$$ and called them to cancel the physical paper. The guy was going to offer me the paper add on for even cheaper if I kept it going. But it really wasn't a price thing (as I say, the digital only sub is not that much cheaper). It's just that I never used the paper so it seemed so wasteful.

Interesting that they still try to push the physical paper though.

I can see oldies and businesses still wanting the physical paper. But the vast majority of people under 50 just want digital now I reckon.

There must be an pay-off if virtually giving it away... all those printed real estate adverts they charge large dollars to print??

[bull....]

5 bagger here , still not a sell in my charts although its at its previous multi year highs now so will see how it goes. hopefully power thru . weekly bollingers have 1.10 possible short term. still think the herald sucks

[nztx]

A buck must be cheap buying for a media stock back spitting out respectable divies again - surely, compared
with other lesser & hopeful inhabitants of the NZX lists ? ;)

[bull....]

stellar div stock wont be many selling who brought under 50c let alone near the lows. say 5c div full year at 30c entry price for example is a 16% div yield your getting even at 50c entry thats 10% at a $! that 5% still not shabby. who would have thought lol from crap herald.

[Habits]

See the Osmium newsletter August 2020

Bottom of page 3.

"Company A" is NZME.

http://www.osmiumpartners.com/newsletters/Osmium%20Newsletter%20-%20August%202020


Glowing Summary imo
Company A: we have become the largest shareholder in a new company at a valuation of approximately 2x
EV/EBITDA and 1.25x market cap/EBITDA. We believe fair value is approximately 3‐4x the current share price.
Within 12‐15 months we think the company could be fully debt‐free. The company is guiding to growing ’21
EBITDA off a growing ’20 estimate. If this happens, the EV/EBTIDA multiple would be approximately 1.5x or less.
Company A is by far the #1 player in its market with a well‐established set of brands. The company also has a
businesssegment that may generate significant value through a digital transformation. This business scores highly
on CEO leadership, board accountability, and pay for performance. The company is achieving far above average
results relative to its peer group. A Sell‐side analyst has the company generating 15% ROE over the next several
years. The business has between 40‐50% market share in its two primary business segments. The business has

[Dlownz]

Very large volumes have gone through the last couple of days. Look forward to the disclosure release on who sold and who Brought

[nztx]

Isn't there some sort of Shareholding restriction with NZME - as part of the Radio network ownership ?

From memory I think there was in past something, but whether there is still ?

[nztx]

https://www.nzx.com/announcements/381502

"GrabSome" Finance confirmation ;)

[bull....]

think nztx we are the only 2 who liked this stock anyway over 1.30 now ... amazing

[nztx]

think nztx we are the only 2 who liked this stock anyway over 1.30 now ... amazing


certainly is quite a turn around - I remember the Wilson & Horton days

[mistaTea]

Still waiting for the market to buy the SKT turnaround...

Then we merge?

[nztx]

Still waiting for the market to buy the SKT turnaround...

Then we merge?


Dont say that Mista .. then Ogg might discover NZME and it might develop more reverse
gears than a German Mag publisher running away in the height of a pandemic .. ;)

[mistaTea]

Dont say that Mista .. then Ogg might discover NZME and it might develop more reverse
gears than a German Mag publisher running away in the height of a pandemic .. ;)

haha. Well if the market won't pay Sky its dues then maybe if Ogg can get the NZME SP down with his rantings and ravings we can get the relative values right for a deal! :t_up:

[Popeye]

I bought some about 3 years ago thinking the sentiment was overly pessimistic relative to the business fundamentals. This did not look like a smart move for the next 2 years, but I see they have come around. Not looking at the share price every second day has done wonders for my mental state, I have avoided the anguish of feeling like a dumbass every time I checked in...

[mistaTea]

INot looking at the share price every second day has done wonders for my mental state, I have avoided the anguish of feeling like a dumbass every time I checked in...

A sound strategy.

You don't check the value of your home every second day. You wouldn't get a valutation done on a privately owned business every week.

So why should you worry about the daily quotations of your stock?

Even better if you check the price infrequently. In case knowing the day by day value compels you to do something you later regret.

[Dlownz]

Have to be happy with the share price now.
And a buy back coming in Feb to commence. So in reality a stable share price and it should climb well next year. Shame I didn't have it in my picks at the beginning of the year

[mistaTea]

Have to be happy with the share price now.
And a buy back coming in Feb to commence. So in reality a stable share price and it should climb well next year. Shame I didn't have it in my picks at the beginning of the year

Sky likely to do a larger buyback next year around the same time.

Hopefully Sky can build up to a similar PE multiple to NZME soon too. So far the SP seems to be tracking to a similar pattern to NZME once a future dividend was starting to look likely.

Slow and steady increases over time…2022 should be a good year with plenty more upside.

[Dlownz]

Getting another bite of the pie.
Someone's not buying and someone's still selling. But the share buyback commences
In Feb after their results. Maybe they should start now since the price is depressed and I still think the next results will be good. So why not buy while you can buy cheaper shares.

[Dlownz]

OK what's going on. Look at the buying depth. No one want to buy and not many want to sell. Quite a difference in buy sell.
This could go either way and at the moment it's down

[Dlownz]

A satisfactory result from NZME. The turnaround from 2 years ago has been impressive. My only regret was not buying at 25cents lol.

[Dlownz]

Nice climb today. The share buy back begins Wonder if they started today

[Habits]

A satisfactory result from NZME. The turnaround from 2 years ago has been impressive. My only regret was not buying at 25cents lol.

Went to 18 cents ish I think. How in the world were the brands of radio network and nz herald (formerly Wilson Horton) were so underrated. Rumours of collapse? Yes I am pleased to have bought heaps then but not pleased that I had to sell out at lower price than today

[winner69]

Gaynor sort of says inevitiable NZM will be taken over

https://businessdesk.co.nz/article/an-nzme-takeover-read-between-the-lines

[bull....]

5 bagger here , still not a sell in my charts although its at its previous multi year highs now so will see how it goes. hopefully power thru . weekly bollingers have 1.10 possible short term. still think the herald sucks

wow maybe headed for a 10 bagger soon lol who would have thought sh..t herald be one of the best stocks from covid lows and provide a double digit div returns

https://www.nzx.com/announcements/389459

[nztx]

wow maybe headed for a 10 bagger soon lol who would have thought sh..t herald be one of the best stocks from covid lows and provide a double digit div returns

https://www.nzx.com/announcements/389459

they certainly seem to have pulled some good reports out of the bag

It looks like the Aussie Funds may have been right on the money
in showing interest a while back :)

[Samsung69]

just out of curiosity, does anyone know why I got 4.65 cent dividend per share, instead of 5 cent per share as has been announced? thanks

[mistaTea]

NZME shares doing well. Current buyback program ticking along and should maintain some upward pressure.

NZME shares make for excellent currency if NZME are planning to make a major acquisition in light of the TVNZ-RNZ merger.

[pierre]

just out of curiosity, does anyone know why I got 4.65 cent dividend per share, instead of 5 cent per share as has been announced? thanks

That's because RWT at 5% of the gross dividend has been deducted from your payment.

The gross dividend is the 5cps declared plus Imputation credit of 1.944 cps = 6.944cps.

6.944c x 5% = 0.35cps

5.0 - 0.35 = 4.65cps

[Samsung69]

thanks for your explanation, Mr. Pierre :)

[nztx]

5c Fully Imputed Special Div almost on the way to the bank

Forwards Guidance affirmed - with presumably 5c Int & 5c Final forwards assuming nothing adverse.. ?

Not a lot of shares on issue (193.6 m)

A Favourite with some Aussie funds who saw opportunity early on NZ's only / most well known Rag publisher

SP hardly moved post Special Div, if not looked further upwards after Div shed

What is there to not like about NZME ?

What could go wrong ? - perhaps a slowing economy may impact things ..

[bull....]

5c Fully Imputed Special Div almost on the way to the bank

Forwards Guidance affirmed - with presumably 5c Int & 5c Final forwards assuming nothing adverse.. ?

Not a lot of shares on issue (193.6 m)

A Favourite with some Aussie funds who saw opportunity early on NZ's only / most well known Rag publisher

SP hardly moved post Special Div, if not looked further upwards after Div shed

What is there to not like about NZME ?

What could go wrong ? - perhaps a slowing economy may impact things ..

im out on this one a little bit back , great investment but i agree with you slowing economy impacting advertising spend. so thats why i bailed a while back

[Sideshow Bob]

NZME 2022 Half Year Results - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/397400)

NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) has today announced its financial results for the half year ended 30 June 2022, reporting Statutory Net Profit After Tax (NPAT) of $8.5 million up 37 percent on the same period in 2021.

NZME also reported Operating Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA)1 of $28.1 million - up three percent on the same period in 2021.

Operating Revenue was five percent higher than the same period in 2021, with total revenue increasing across the three key strategic pillars: Audio, Publishing and OneRoof, with total digital revenue up 24 percent compared to the same period in 2021.

Michael Boggs, NZME Chief Executive Officer, says the results demonstrate NZME is delivering on its transformation objectives and continues to make excellent progress on its strategic priorities and targets.“We’ve started the year strongly with revenue and profitability above the same period last year, andadvertising revenues for the same period now at pre-Covid levels. Despite the continued challenges the recent Omicron outbreak has brought, across the business we have remained agile and we’ve adapted as needed, and I’m proud to deliver such a positive result for the first half of 2022,” he said.“NZME’s digital transformation and diversification across our platforms continues to deliver excellent results across key areas of our business, particularly in digital revenue growth,” said Boggs.

Key highlights:
• NZME reached 100,000 paid digital only subscriptions in June, with publishing subscriptions across digital and print increasing to 206,000.
• Strong growth in digital audio revenue up 56 percent in the first half of 2022 compared to the previous corresponding period.
• OneRoof achieved significant growth, including a 53 percent increase in digital revenue yearon-year, against a cooling housing market.
• NZME acquired BusinessDesk in January 2022, bolstering NZME’s reputation as the country’s pre-eminent business news provider.
• NZME celebrated its largest ever cumulative audience in July’s GfK Commercial Radio Survey, reaching more than two million people across its radio platforms2.
• NZME’s digital audio platform - iHeartRadio, reaches one million devices and 6.4 million listening hours in June 20223.
• NZME is the country’s top podcast network, representing eight out of the ten top podcasts4in New Zealand, with more than 4.5 million podcast downloads for the month of June 2022.

Capital management

NZME completed half of the planned $30 million capital return through the buyback of $5.3 million of shares, and the payment of a special dividend of 5.0 cents per share in July 2022.

MARKET ANNOUNCEMENT

NZME Chairman Barbara Chapman said: “Following the strong operating performance and capital position of the company, the NZME Board declared a fully imputed interim dividend of 3.0 cents per share. “NZME remains in a very strong capital position and will recommence the on-market buyback on 24 August 2022.

The Board remains committed to returning excess capital to shareholders and will review capital and dividend policy settings over the second half of 2022.”OutlookNZME also noted that while advertisers are exercising caution and there is some unease in the market as reported in business and consumer confidence metrics, advertising bookings for quarter three are currently tracking five percent above the previous corresponding period. “NZME is not immune to the challenging macro-economic environment in New Zealand and globally, and cost pressures across the business continue. However, we are focused on carefully managing costs to ensure current business momentum continues into the second half of 2022,” said Boggs.

NZME reconfirmed its guidance of 2022 EBITDA in the range of $67-$72 million.“I’d like to thank our our commercial partners, our valued investors and our audiences for their continued support. Thanks also to our team of 1200 at NZME for their hard work and dedication to their roles and for playing their part in serving our valued audiences, customers and our fantastic business,” said Boggs.

The full suite of 2022 Interim Results material can be found here

[Dlownz]

Mixed result today. But the dividend just got bigger.

[nztx]

Upper Div end of 13.0 cps + Imputation credits looking forwards doesn't look too foul on current SP

Now to encourage the vultures across the ditch back to bid things up towards the moon again :)

Interesting stuff going on the sector .. wasn't Stuff trying in to reign things in ?

NZM seem a bit braver in their view of things going forwards

On the other side - if things hit the fan badly then all in most sectors will likely get plastered
and Robbo with his mate Orr will need new heavy impact resistant grundies with extra strong
bungy cords built in :)

[Getty]

The real estate publication revenue should continue to do well, regardless of the economy.

Any rush of mortgagee or forced sales will still require an ad, regardless of the asking price.

[Dlownz]

Results out 22nd Feb.
Now that the govt has scrapped the tvnz rnz merger that has to be a good thing for NZME

[Sideshow Bob]

https://www.nzx.com/announcements/407102


AUCKLAND, 22 February 2023: NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) has announcedits financial results for the full year ended 31 December 2022 reporting a Statutory Net Profit AfterTax (NPAT) of $22.7 million for the year.

The company also reported Operating Earnings Before Interest, Tax, Depeciation and Amortisation(EBITDA)1 of $64.7 million – 4% higher than the comparative result for 2021, and OperatingRevenue1 growth of 7% year on year to $364.6 millionNZME is two years into its three year strategy and has delivered strong financial results, despiteanother challenging year.Key Highlights:

 Operating Earnings Per Share (EPS)1 increased to 12.1 cents per share, 13% higher than 2021.
 Total revenue increased across all three strategic pillars: Audio, Publishing and OneRoof, withtotal digital revenue up 16% on 2021.
 Radio market revenue share2 reached 41.4% - the highest it has been since 2016.
 Audio’s digital revenue overall also grew to $6.8 million from $4.5 million in 2021.
 Publishing subscriptions increased to 209,0003, including 113,000 paid digital subscriptions.
 OneRoof celebrated a 30% increase in digital revenue compared to 2021.

[percy]

https://www.nzx.com/announcements/407102


AUCKLAND, 22 February 2023: NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) has announcedits financial results for the full year ended 31 December 2022 reporting a Statutory Net Profit AfterTax (NPAT) of $22.7 million for the year.

The company also reported Operating Earnings Before Interest, Tax, Depeciation and Amortisation(EBITDA)1 of $64.7 million – 4% higher than the comparative result for 2021, and OperatingRevenue1 growth of 7% year on year to $364.6 millionNZME is two years into its three year strategy and has delivered strong financial results, despiteanother challenging year.Key Highlights:

 Operating Earnings Per Share (EPS)1 increased to 12.1 cents per share, 13% higher than 2021.
 Total revenue increased across all three strategic pillars: Audio, Publishing and OneRoof, withtotal digital revenue up 16% on 2021.
 Radio market revenue share2 reached 41.4% - the highest it has been since 2016.
 Audio’s digital revenue overall also grew to $6.8 million from $4.5 million in 2021.
 Publishing subscriptions increased to 209,0003, including 113,000 paid digital subscriptions.
 OneRoof celebrated a 30% increase in digital revenue compared to 2021.

A great result .
Wife has a small holding.
Looked to add to it this morning but few sellers until $1.25, which is 10 cents above the last sale price.

[percy]

Bit surprised to pick up some more for her at $1.16.

[Dlownz]

Not a bad result. Not a outstanding result.
But a good result. Debt increased but mostly due to the share buy back, Divi increased and the three year turn around still looks on track. Well done NZME

[nztx]

Not a bad result. Not a outstanding result.
But a good result. Debt increased but mostly due to the share buy back, Divi increased and the three year turn around still looks on track. Well done NZME


Agree, not bad sort of result, but with the Economy in shaky uncertain territory
with a RB Governor intent on chasing inflationary shadows, risking inflicting more
pain & suffering - the outlook looks somewhat murky :)

[Dlownz]

Ubs holding went from 7.5 to 15%. When did I miss those trades go through?

[Dlownz]

Ubs holding went from 7.5 to 15%. When did I miss those trades go through?

This answers my question.
https://www.nzx.com/announcements/409354
Anyone got any insight into this

[nztx]

This answers my question.
https://www.nzx.com/announcements/409354
Anyone got any insight into this


UBS c*ck up apparently .. someone in HK Office must have spilt their noodles on the abacus
causing a swap malfunction :)


A darn interesting Document Title that NZX have on the fiiing:

Strictly Private & Confidential

[Dlownz]

Thanks nztx. I think it's odd there would be a mistake of this nature. Thought at first maybe they were trying to accumulate for a possible takeover and they pushed the button too early.

[warthog]

Thanks nztx. I think it's odd there would be a mistake of this nature. Thought at first maybe they were trying to accumulate for a possible takeover and they pushed the button too early.

These bankers are barely literate. It's a mistake.

[Dlownz]

Repertoire Partners increased there Holdings now 19.9%.

[Dlownz]

NZME increasing their prices by $6 a month. By those calculations if they hold subscribes that adds 8mil to there revenue a year. Revenue update soon?

[Sideshow Bob]

https://www.nzx.com/announcements/421156

AUCKLAND, 7 November 2023: NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) notes that the economic environment over the past year has been challenging.

Advertising revenue for the first half of 2023 was down 7 percent year on year. Given this, NZME provided an update in August that it expected to achieve EBITDA at the bottom of the guidance range of $59 million to $64 million for 2023.

The second half has seen improvement in business confidence, but this is not yet consistently reflected in advertising revenue results:

• Quarter 3 advertising revenue was down 2 percent year on
year
• Quarter 4 started with October advertising revenue growth
of 1 percent year on year
• November (the largest revenue month of the year) and
December are currently pacing slower, with a number of
customer campaigns being cancelled or deferred until 2024

Given the current advertising revenue volatility in the market, NZME amends its guidance for EBITDA to be between $57 million and $59 million for 2023.

NZME is continuing its transition to a digital-led business and will update its shareholders at its Investor Day on 15 November 2023.

[Sideshow Bob]

Oooooooh Nu Strategee Thingee!

https://www.nzx.com/announcements/421661

[winner69]

Ha ha ..they left the Disclaimer out

So it is really a load of rubbish ..read at your peril.

[nztx]

https://www.nzx.com/announcements/421156

AUCKLAND, 7 November 2023: NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) notes that the economic environment over the past year has been challenging.

Advertising revenue for the first half of 2023 was down 7 percent year on year. Given this, NZME provided an update in August that it expected to achieve EBITDA at the bottom of the guidance range of $59 million to $64 million for 2023.

The second half has seen improvement in business confidence, but this is not yet consistently reflected in advertising revenue results:

• Quarter 3 advertising revenue was down 2 percent year on
year
• Quarter 4 started with October advertising revenue growth
of 1 percent year on year
• November (the largest revenue month of the year) and
December are currently pacing slower, with a number of
customer campaigns being cancelled or deferred until 2024

Given the current advertising revenue volatility in the market, NZME amends its guidance for EBITDA to be between $57 million and $59 million for 2023.

NZME is continuing its transition to a digital-led business and will update its shareholders at its Investor Day on 15 November 2023.


No mention of loss of a major customer that chucked a pot of gold the Media's way, before it lost it's way & was shortly thereafter found with empty pot ? ;)

[Dlownz]

Well there goes my pick of 2024
I had this in there as a easy pick but where the hell has this rise come from.
Cant complain as I'm a holder.

[percy]

Well there goes my pick of 2024
I had this in there as a easy pick but where the hell has this rise come from.
Cant complain as I'm a holder.

Wife holds and NZM is included in her picks.
We too have no idea what is behind the big near 30% share price rise.

[nztx]

Wife holds and NZM is included in her picks.
We too have no idea what is behind the big near 30% share price rise.


Aussies having a little foray while Kiwi's are away sleeping it off on beaches ? :)

Mind you - not a h4ll of a lot of volume passing over the line

[Sideshow Bob]

https://www.nzx.com/announcements/426526

: NZME Limited (NZX: NZM, ASX: NZM) has announced its financialresults for the full year ended 31 December 2023 reporting a Statutory Net Profit After Tax (NPAT)of $12.2 million for the year.

The company also reported Operating Earnings Before Interest, Tax, Depreciation and Amortisation(EBITDA)1 of $56.2 million which was 13% lower than 2022. Operating Revenue1 was $346.6 million,down 5% on the year prior.

2023 was the Company’s final year of focusing on its three-year strategic targets that it set in 2020,achieving the majority of those targets, with the financial targets being impacted by the challengingeconomic environment. In November 2023, NZME announced its refreshed strategy, with digitaltransformation targets set for 2026.

Key Highlights
• NZME engages with more than 3.5 million people across New Zealand, reaching 85% of Kiwisaged 15+2
• Radio market revenue share3reached 43.1% - the highest since measurement began in 2016.• NZME audio revenues stable, despite a 6% overall market decline in radio advertising revenue.
• Continued to grow its digital audio business, growing digital audio by 23% with podcast revenuesup 54%.
• Publishing subscriptions increased to 222,000, including 130,000 digital only subscriptions.
• The publishing digital business is profitable, including when taking into account the fullinvestment in the journalism that appears on NZME’s digital platforms, and when the storiesappear in NZME’s print publications.
• OneRoof grew its digital revenue by 5% year on year despite a 12% reduction in new residentiallistings coming to market.
• OneRoof achieved a milestone of break-even EBITDA in the second half of 2024.

[Dlownz]

Not a bad result. Still collecting 9 to 10 % a year.

[percy]

Not a bad result. Still collecting 9 to 10 % a year.

Yes an excellent dividend yield.

[nztx]

Yes an excellent dividend yield.


Forward prospects in more a tighter recessionary environment ahead could be an issue

[percy]

Forward prospects in more a tighter recessionary environment ahead could be an issue

You missed the "well positioned" in their outlook..lol
Outlook
Operating Environment
• There are positive signs for 2024, with January and February advertising revenues pacing ahead of last year, business and consumer confidence
on upward trends, and a recovering real estate market. However, sentiment among market commentators remains one of economic uncertainty
and there is no clear consensus on the outlook.
• We are well-positioned to deliver improved results as market conditions improve. We remain conscious of continued cost pressures across our
business and will focus on efficiency improvement opportunities.
• OneRoof has achieved digital revenue growth of over 80% across January and February 2024.

[Marilyn Munroe]

Rupert Murdoch knew how to market newspapers. Give them what they want, hence page 3 girls in The Sun with a subsequent boost in circulation.

The young do not read newspapers. Those who do are likely to be older and hold views on the conventional part of the political spectrum.

Why then is the editorial content of the New Zealand Herald full of agit-prop against the current coalition government which we can assume enjoys substantial support amongst subscribers.

Boop boop de do
Marilyn

[nztx]

Rupert Murdoch knew how to market newspapers. Give them what they want, hence page 3 girls in The Sun with a subsequent boost in circulation.

The young do not read newspapers. Those who do are likely to be older and hold views on the conventional part of the political spectrum.

Why then is the editorial content of the New Zealand Herald full of agit-prop against the current coalition government which we can assume enjoys substantial support amongst subscribers.

Boop boop de do
Marilyn


probably positioning themselves to show how deserving they are for another payday support fund to play nicely and a free lunch ;)

Relying just the Adverts rake in and having the delivery guys on subsistence rates might be a bit too tough a form of media survival after the trick & treat hijinks of the last easy money easy go Labour mob :)

[percy]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZM/428562/415589.pdf

Wondered who bought the big parcel recently traded.
Spheria Asset Management have moved to 19.1248% up from 13.381%.

[percy]

Pinnacle Investment Management Group Limited,adding to their holding.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZM/428638/415670.pdf