Nine Entertainment Co. (ASX: NEC) have released their results for the 12 months to 30 June 2025 today. Revenue was $2.7b with a Net Profit After Tax of $133m, which included a post-tax Specific Items expense of $61m.
The positive results were largely driven by the network’s Olympic coverage in July and August 2024, the sale of a 60% stake in Domain and digital revenue growth of 31% in audio, with radio industry leadership in live streaming audiences.
Other highlights:
● H2 EBITDA growth of 8% on pcp, with growth recorded across Total Television, Stan and Publishing
● Audience growth across streaming and broadcast television
● World-class Olympic Games coverage, highlighting the power of Nine’s Integrated Audience Platform – both profitable and cash flow positive for the Group
● Digital revenue growth of 31% in Audio
● More than $80m of cost efficiencies delivered across the year, of which c$60m is ongoing, with a further $90m committed, for a total annualised saving of $150m by the end of FY27
● Sale of 60% stake in Domain at a 60% premium to 60-day VWAP, for net proceeds to Nine of $1.4b (after tax) to be received on 27 August 2025
● Full year final dividend of 4.0 cents per share, plus special dividend of 49 cents per share, both fully franked and payable 26 September 2025
Nine have conducted a strategic and cultural transformation over the last 12 months with CEO Matt Stanton saying:
“I am pleased with Nine’s performance in FY25, particularly in the second half, where we recorded growth in profit in both Streaming and Broadcast and Publishing – driven by strong audience performance and firm cost management.
At the start of 2025, we accelerated our program of increased operating effectiveness through our strategic transformation program, Nine 2028, generating additional cost savings in FY25. We also rolled out our refocused operating model aligning the business across three key verticals – Streaming and Broadcast; Publishing; and Marketplaces. We restructured our executive team, bringing a great depth of talent into our core businesses and made strong progress against our cultural transformation including the completion of four further Cultural Action Plan
recommendations.
In May, Domain reached an agreement with CoStar, which resulted in the sale of our 60% stake in Domain at a price which was a significant premium to the pre-bid Domain share price. After much deliberation, we approved an offer that was in the best interests of Nine shareholders, and appropriately reflected the strategic value of our controlling interest in Domain. We are pleased with the value this has released, enabling us to return significant capital to our shareholders on a tax effective basis, as well as strengthen our own balance sheet. We believe that Nine is the natural media partner for marketplace content and are continuing to explore opportunities in this space.”
The last line of the above is of particular interest as speculation was rife at the start of the year that Nine was looking to offload their radio assets. Now the tables have turned with some suggesting Nine would instead broaden their radio portfolio and look to purchase SCA, who also released their FY25 result this week.
The full Nine Entertainment FY25 results are here: https://www.nineforbrands.com.au/investors/asx-announcements/