Slides
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Annual General Meeting 6 November 2025 Seven West Media For personal use only
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H2 earnings growth in line with guidance - EBITDA1 +6%, TV EBITDA +4%, underlying NPAT +33% 7plus revenue growth +26% (H2 +41%) - Daily active users (DAUs) +27%, streaming minutes +41% Total TV audiences up +1.1%2 (total people) and +1.5%2 in key advertising demographic (25-54) Completed acquisition of Southern Cross Media’s Seven affiliate TV markets (immediately accretive) Seven West Media 2025 AGM – 2 Operating costs reduced –2% to $1,203m in line with guidance - reported costs $1,196m incl revenue related cost savings FY25 Performance Seven’s H2 total TV advertising decline -1% (H1 -6%), FY25 -4% Total TV revenue share 40.4%, up 0.2 points – fifth year of share growth3 For personal use only
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FY25 Financial Performance INCOME STATEMENT FY25 $m FY24 $m Inc/(Dec) % Revenue, other income and share of net profit of equity accounted investees 1,354 1,415 (4%) Operating expenses (excluding depreciation and amortisation) (1,196) (1,228) (3%) EBITDA1 159 187 (15%) Depreciation and amortisation (43) (36) 19% EBIT2 116 151 (23%) Net finance costs (40) (40) - Profit before significant items and tax 76 111 (32%) Significant items before tax (46) (44) 5% Profit before tax 30 67 (55%) Tax expense (13) (22) (41%) Profit after tax 17 45 (62%) Underlying net profit after tax excluding significant items 57 78 (27%) Seven West Media 2025 AGM – 3 For personal use only
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• Seven’s total TV advertising revenue -4% (H2 -1%, H1 -6%) • 7plus ad revenue +26% (H2 +41%, H1 +15%) • Total TV revenue share 40.4% (+0.2% points) • FY25 Total TV market -3.2% (H2 –0.7%, H1 –5.4%) • Metro -7%, Regional -6%, BVOD +18% • Jan–April total TV ad revenue +3% in line with guidance, post Federal Election market weakness impacted results • Other revenue decline largely driven by Meta non-renewal • Expense reduction -2% reflects benefits of revised operating model and ongoing cost discipline • Media content costs include new cricket contract (onerous in FY24) • Personnel costs reduction driven by productivity and headcount initiatives Total TV SEVEN FY25 $m FY24 $m Inc/(Dec) % Revenue Advertising Revenue – TV 915 995 (8%) Advertising Revenue – 7Plus 166 132 26% Total Advertising Revenue 1,081 1,127 (4%) Other Revenue 103 113 (9%) Total Revenue 1,184 1,240 (5%) Expenses Media Content (621) (635) (2%) Personnel Costs (230) (241) (5%) Other (192) (192) - Total Expenses (1,043) (1,068) (2%) EBITDA 141 172 (18%) EBIT 103 139 (26%) Seven West Media 2025 AGM – 4 For personal use only
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1. Source Ipsos Iris Online Audience Measurement Service, June 2024 to June 2025, Age 14+, PC/laptop/smartphone/tablet, Text only, Website, Page Views 2: FY24 amounts have been restated based on a review of the nature of amounts reported in each segment. The West • Delivered to strategy: drive digital audience/paid subs, deliver new revenue opportunities and reduce costs • Strong digital audience growth • The Nightly monthly page views +60%1 • Launched The Nightly On digital magazine • Advertising revenue -7% impacted by macro conditions • Partly offset by digital advertising growth (The Nightly) • Circulation revenue +4% (strong home delivery sales, price increases) • Expense reduction -3% (across advertising, production, editorial teams) • Continued outstanding community engagement with charity partner Telethon, raising $90.2 million THE WEST FY25 $m FY242 $m Inc/(Dec) % Revenue 169 174 (3%) Costs (142) (146) (3%) EBITDA 27 28 (4%) EBIT 23 25 (8%) Seven West Media 2025 AGM – 5 For personal use only
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Trading Update Seven West Media 2025 AGM – 6 • Total Television 1Q26 advertising revenue in line with 1Q25; this includes 7plus revenue growth of 32% YoY and the acquired SCA licences (~$7m) • 2Q26 trading: • Market has slowed: estimate Total Television ad market decline of ~12-13% (October YoY) • Cricket bookings currently tracking up 10-15% vs prior year • Seven Total Television advertising currently expected to be down 2% in 2Q26 (including SCA licences) • Expanded cost out programme: FY26 programme increased from $35m to $50m. We continue to look for ways to drive efficiency into the business • H1 Group revenue expected to be down ~1% on pcp and H1 costs up 3% on pcp (AFL, SCA, net of savings) • Based on current market expectations, SWM continues to target FY26 EBITDA consensus (~$161m) For personal use only
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SWM and its employees do not warrant the accuracy or reliability of this data and disclaim any liability flowing from the use of this data by any party. SWM does not accept any liability to any person, organisation or entity for any loss or damage suffered as a result of reliance on this document. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, and are subject to variation. All forward-looking statements in this document reflect the current expectations concerning future results and events. Any forward-looking statements contained or implied, either within this document or verbally, involve known and unknown risks, uncertainties and other factors (including economic and market conditions, changes in operating conditions, currency fluctuations, political events, labour relations, availability and cost of labour, materials and equipment) that may cause actual results, performance or achievements to differ materially from the anticipated results, performance or achievements, expressed, projected or implied by any forward -looking statements. Unless otherwise indicated, all references to estimates, targets and forecasts and derivations of the same in this document are references to estimates, targets and forecasts by SWM. Estimates, targets and forecasts are based on views held only at the date of this document, and actual events and results may be materially different from them. SWM does not undertake to revise this document to reflect any future events or circumstances. Amounts, totals and change percentages calculated on whole numbers and not the rounded amounts presented. The information contained in these pages may not necessarily be in statutory format. Data included in this presentation is prepared for the management of Seven WestMedia Limited and its associated entities (together, ‘SWM’). This data is includedfor information purposes only and has not been audited or reviewed or subject to the same level of review by SWM as the statutory accounts and so ismerely provided for indicative purposes. Disclaimer Basis of Preparation Seven West Media 2025 Annual General Meeting – 7 For personal use only