SKT Sky Network Television Limited.

[mistaTea]

Good set of numbers with 6c interim divvy and $15m buy back. Positive outlook with focus on more payout and FCF generation.

So after all that glossy presentation stuff and the platitudes...Sky essentially created zero FCF/Owner Earnings in the last 6 months.

Cashflow from operations = $56,115,000 (down from ~$74M Dec-21).

Cash needed for 'investing activities' totalled $40,156,000 across tangibles and intangibles. This entire amount really does have to be treated as 'stay in business CAPEX' given the company is still in the fight of its life.

Then do not forget the lease costs ($13,416,000) and some other borriwings they paid back ($577,000).

So after the (impressive) growth seen in SSN, maintenance of lower STB churn rate and what appears to be peaking NEON subs...Sky generated ($56,115,000 - $40,156,000 - $13,416,000 - $577,000 =) $1,996,000 for shareholders in the last 6 months.

They essentially generated no cash in the last 6 months and the remaining $56M on the Balance Sheet is just leftovers from the money that shareholders handed over when they got mugged during the infamous Covid Capital Raise.

I mean, yes Sky is still a going concern - but you wouldn't really pitch this as a magnificent result yeah?

[bottomfeeder]

I don't understand the volatility in the SP. Nothing new. Everything was obvious weeks ago. We all new about the capex requirements and the cash flow peculiarities

[Balance]

Share buyback and dividend payout as foreshadowed at last year’s AGM.

Entirely appropriate given over capitalised balance sheet.

[mistaTea]

Share buyback and dividend payout as foreshadowed at last year’s AGM.

Entirely appropriate given over capitalised balance sheet.

Agreed 100%.

Very nice of them to return more of the interest free loan shareholders gave them in 2020 👍🏻

[Balance]

Agreed 100%.

Very nice of them to return more of the interest free loan shareholders gave them in 2020 👍🏻

Interest free loan?

Must be the best loan made by shareholders in the history of NZX!

Loan made at $1.20 and now, getting back $2.50 tax free!!!!!

More please!!!!

[Baa_Baa]

Interest free loan?

Must be the best loan made by shareholders in the history of NZX!

Loan made at $1.20 and now, getting back $2.50 tax free!!!!!

More please!!!!

Plus dividends and now share buyback = +EPS.

Haters gonna hate.

[nztx]

Plus dividends and now share buyback = +EPS.

Haters gonna hate.

Hey you two - leave something in the pot for others please

Remember - MrTea further up @ 13701 has already outlined how little has been generated in latest period ..

Just as well SKT didn't go dancing long term with that other media outfit earlier .. otherwise who knows what could have eventuated ..

[uravgtrader]

When are we expecting this dividend to be paid out?

[freebee]

When are we expecting this dividend to be paid out?

A nice fully imputed dividend of 6c paid into your bank on 24th March - ex divi on 9th March

SKT has been a great investment for me, SP has gone up nicely over the last couple of years and they keep giving us cash !

Looking forward to Indy and supercars coming shortly.

[nztx]

https://www.nzherald.co.nz/business/...K6Y2WGWRS54HU/

A Mention of MW & Oaktree in the article..

Poor old MW Boss Cam Wallace not even offered a spot at SKT or olive leaf from Sophie ?

So forced away to into the land of Airline Companys in OZ

Come on Soph - the poor guy has been deconstructing MW very nicely for SKT's benefit
and probably would have accepted shares as part of a deal for a new spot ..

What gives ?

You guys may have even landed the unwanted remnants of MW at Liquidation values too