SCA have announced their financial results for the year ended 30 June 2022 with shareholders to receive a fully franked dividend of 4.75 cents per share.
While revenue of $519.7M was down slightly on FY21, the underlying EBITDA, which excludes the government grants received in the past two years, was up by 2.8% to $87.9M and the underlying NPAT was up 38.4% to $27.4M.
SCA’s audio revenue grew by $33.1M to $392.9M with broadcast radio in both Metro and Regional markets up by 9.4% and 6.4% respectively, giving overall growth of 8.0% to $372.1M.
Television revenue was down by 25.3% to $126.2M, but the underlying EBITDA of $29.9M was consistent with FY21.
Sign-ups to the LiSTNR app have now exceeded 850,000 and Digital Audio revenue was up 35.2% to $20.8M.
Nick McKechnie
Also announced today by SCA was the resignation of CFO Nick McKechnie after 8 years to take up a new position as CFO for luxury development company, Gurner Group.
CEO Grant Blackley told radioinfo, “Nick’s been with us for just over eight years. He was here a year before I joined, actually.
“Nick has been a wonderful confidant and a great support for the company and the leadership team. We have, together along with the leadership team and the board obviously, strengthened the company. Our balance sheet is in good health, our debt has been reduced from some $680 million to what is now effectively $78 million.
“Matter of fact, we’re buying back our own shares at this point in time.
“So Nick’s been part of that journey. We wish him the absolute best in moving across to what is a non-public environment.”
Melanie Willis has given notice of her retirement as a non-executive director of SCA, a position she has held since 2016.
SCA Chair, Rob Murray, says, “Together with my fellow directors, I would like to thanks Melanie for her significant contribution to SCA and its board of directors. During her time as Chair of the Audit & Risk Committee, Melanie oversaw improvements in the Committee’s processes and activities to ensure it added value to the group’s financial reporting and risk management’s functions.
“More broadly Melanie has brought valuable insights and experience to our Board and Committee decision-making.”