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NZME NEW ZEALAND MEDIA AND ENTERTAINMENT NZX / ASX RELEASE 24 August 2021 NZME LIMITED 2021 HALF YEAR FINANCIAL RESULTS Continued momentum as strategic digital growth delivers returns for shareholders . Auckland , 24 August 2021 : NZME Limited ( NZX : NZM , ASX : NZM ) ( “ NZME " ) has today announced its financial results for the half year ended 30 June 2021 , reporting Statutory Net Profit After Tax ( " NPAT " ) of $ 5.6 million , up 85 % on the corresponding period in 2020 . NZME also announced growth in Operating Earnings before Interest , Tax , Depreciation and Amortisation ( EBITDA ) ¹ to $ 30.1 million for the half year , representing 4 % growth in Operating EBITDA against the first half of 2020. Operating revenue¹ was $ 172.5m which was 9 % higher than the first half of 2020 . " NZME is delighted to share a set of results that feature earnings growth and a further reduction in net debt , " said NZME CEO Michael Boggs . “ Emerging_from the significant disruption encountered in 2020 NZME has maintained a steadfast focus on key strategic priorities . This has meant that as New Zealand's many commercial sectors are steadily rebuilding their investment in audience engagement , NZME's advertising revenues continue to approach the levels achieved in 2019 , before the pandemic struck , " said Boggs . NZME's Net Debt was reduced by a further $ 15.2 million during the half year to $ 18.6 million and is now below NZME's target leverage ratio . " A rigorous commercial discipline and a continual focus on managing the cost base as business activity recovers has improved NZME's ongoing Capital Management performance and has supported the continued strengthening of NZME's Balance Sheet , " said NZME Chairman Barbara Chapman . NZME today announced that given the significant reduction in debt and based on the business outlook and NZME's capital requirements the NZME board has declared a fully imputed and fully franked dividend of 3.0 cps . “ That NZME is in a position to return a dividend to its shareholders , while navigating the extraordinary and ongoing challenges posed by the impacts of the pandemic reinforces NZME'S position as a robust , resilient , and agile multi - media business , " said Chapman . The board was in a position to approve and announce a capital return to shareholders . However , given the Covid - 19 uncertainties that have emerged in the past week , the board has chosen to pause at this time . NZME 2021 Half Year Results at a glance : • Statutory Net Profit After Tax of $ 5.6 million , up 85 % on HY 2020 . • Operating EBITDA¹ of $ 30.1 million , up 4 % on HY 2020 . • Operating Revenue¹ of $ 172.5 million , up 9 % on HY 2020 . 1 Operating Results exclude exceptional items to allow for a like - for - like comparison between 2020 and 2021 Half Years . Please refer to pages 33-34 of the 2021 Half Year Results presentation for a detailed reconciliation .