NZME - New Zealand Media & Entertainment

[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

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.