SKT Sky Network Television Limited.

[Dlownz]

Spark pleased about their cricket .... 3 million hours of cricket viewed to date

That’s a lot of Scotty and Suzie ....jeez they are both terrible.

If someone gets the chance ask if its spark sport streaming or including tvnz figures. Lol. Did they release subscriber numbers

[winner69]

If someone gets the chance ask if its spark sport streaming or including tvnz figures. Lol. Did they release subscriber numbers

Of course not ...that could be embarrassing

Pity NZC is killing New Zealand cricket

[Joshuatree]

Vocus

Half Year Results - ASX Release and Investor Presentation 31 pages 8.8MB

[mistaTea]

I know most don't put a lot of stock in Morningstar, but this is their take:

Event analysis

A Clearer Earnings Picture as Normal Programming Resumes at Sky
The 15% lift in Sky's fiscal 2021 first-half adjusted EBITDA to NZD 116 million establishes a constructive picture of the group's earnings base from fiscal 2022. Based on management's unchanged fiscal 2021 full-year EBITDA guidance range of NZD 170 to 183 million, the interim result implies second-half EBITDA of NZD 54 to 66 million. This would be down 28% to 41% year on year, as new content rights kick in (including SANZAAR) while higher costs of a normalising sports schedule coincide with broadband launch costs.

Our fiscal 2021 second-half EBITDA forecast of NZD 59 million sits within this implied range. Critically, annualising this more "normal" earnings level validates our unchanged fiscal 2022 EBITDA forecast of NZD 124 million. Swings and roundabouts may come in the form of revenue upside from management's rejuvenated efforts to stabilise satellite subscribers (down 4% in the first half), potentially offset by broadband start-up losses and greater costs from Sky's pursuit of more "co-exclusive" content. However, we are comfortable with our unchanged expectations (factoring in no broadband contributions) and our NZD 0.30 fair value estimate (AUD 0.28 at current exchange rates).

Even more comfortable is our view on Sky's balance sheet, ending December 2020 with an NZD 123 million cash balance. This is more than enough to repay the NZD 100 million bond (maturing in March 2021), while an undrawn NZD 200 million facility (maturing July 2023) provides ample firepower for Sky to continue its transformation from a set-top-box pay TV company to a hybrid satellite-streaming entity.

Shares in no-moat-rated Sky remain at a significant discount to our intrinsic assessment. With the balance sheet sound and non-content costs under control (NZD 18 million permanent cut in the first half), we can only attribute the discount to our fair value estimate to market scepticism on stabilisation of Sky's satellite subscribers and, hence, its sustainable earnings base.

[mistaTea]

I note this section from the Notes in the HY report...

"On 1 December 2020 Martin Stewart left by mutual agreement and Sophie Moloney was appointed the new CEO on this date.

The six months ended 31 December 2020 includes the accrued cost of termination benefits associated with the former CEO of$1,331,000, and short-term employee benefits of $390,000 which are based on achieving targets for the year to 30 June 2021.Therefore, the actual short-term employee benefits paid may ultimately differ from what has been estimated.

On 21 February 2020, 200,000 ordinary shares vested to the former CEO as part of a contractual entitlement to receive a total of800,000 ordinary shares in instalments of 200,000 on each of the first four anniversaries of commencement of employment. As aresult of the CEO’s decision to leave by mutual agreement the 600,000 ordinary shares yet to vest have been recognised at balancedate. While the share price at 31 December 2020 was $0.16, this equity-settled share scheme is accounted for and measuredbased on the fair value at grant date (1 February 2019) of $1.93 per share ($1,158,000)."

I don't understand this last bit, Martin did not get paid out the 600K shares @$1.93, surely? He got the 200K shares as part of the agreement and they wrote the other 600K off the Balance Sheet @$1.93?

[Ogg]

I note this section from the Notes in the HY report...

"On 1 December 2020 Martin Stewart left by mutual agreement and Sophie Moloney was appointed the new CEO on this date.

The six months ended 31 December 2020 includes the accrued cost of termination benefits associated with the former CEO of$1,331,000, and short-term employee benefits of $390,000 which are based on achieving targets for the year to 30 June 2021.Therefore, the actual short-term employee benefits paid may ultimately differ from what has been estimated.

On 21 February 2020, 200,000 ordinary shares vested to the former CEO as part of a contractual entitlement to receive a total of800,000 ordinary shares in instalments of 200,000 on each of the first four anniversaries of commencement of employment. As aresult of the CEO’s decision to leave by mutual agreement the 600,000 ordinary shares yet to vest have been recognised at balancedate. While the share price at 31 December 2020 was $0.16, this equity-settled share scheme is accounted for and measuredbased on the fair value at grant date (1 February 2019) of $1.93 per share ($1,158,000)."

I don't understand this last bit, Martin did not get paid out the 600K shares @$1.93, surely? He got the 200K shares as part of the agreement and they wrote the other 600K off the Balance Sheet @$1.93?

Looks like to me he got paid $1.1m in cash and bailed.

[mistaTea]

Looks like to me he got paid $1.1m in cash and bailed.

Enough to fly back to the Mother Land First Class...

[nztx]

Looks like to me he got paid $1.1m in cash and bailed.

the new Recruit onboard for the spot doesn't look too foul at all ..

Sounds like a darn good move on part of the Board ..

Had better keep her on so she can hand us all some divvies a bit further down the track ..

May have to buy a few more of these now ..

[Getty]

Truck for sale
Average condition
$500 ono
Call or text 0800 759 759

Was Derek mentioned in dispatches, or did he just get to keep his company vehicle?

[Snow Leopard]

....I don't understand this last bit, Martin did not get paid out the 600K shares @$1.93, surely? He got the 200K shares as part of the agreement and they wrote the other 600K off the Balance Sheet @$1.93?

No, he did not get paid the cash, but it appears he is entitled to get the 600,000 shares as per the final director's interest notice and thus they have been brought them on to the balance sheet as new equity.

The accounting treatment of this going forward is not something I am totally confident I understand fully ( translation I have no clue ):