Southern Cross Media Group FY2026 financial results – Southern Cross Media Group Limited has released its FY2026 financial results for the year ended 30 June 2026.
The ASX announcement covers the company’s first full-year result for the merged SCA and Seven West Media business on a pro-forma basis, with performance across television, audio, publishing and digital included in the report.
For TV Central readers, the result is significant because the expanded group now includes the Seven Network, 7plus, LiSTNR, the Hit and Triple M radio networks, The West Australian, The Nightly and PerthNow. It gives a clearer view of how the combined media group is performing across broadcast, streaming, audio and publishing.
The company said the year reflected difficult market conditions, partially offset by audience and revenue share gains, cost discipline, merger synergies and continued digital growth.
Pro-forma financial results
Southern Cross Media Group reported the following pro-forma results for FY26. Unless otherwise stated, the figures are presented on the basis that SCA and Seven West Media had been merged for the entirety of FY25 and FY26.
| $ million unless otherwise stated | FY26 | FY25 | YoY change |
|---|---|---|---|
| Gross revenue | 1,869.6 | 1,958.2 | (4.5%) |
| Total costs | (1,677.7) | (1,730.7) | (3.1%) |
| EBITDA excluding onerous contracts | 191.9 | 227.6 | (15.8%) |
| EBITDA including onerous contracts | 200.0 | 229.3 | (12.8%) |
| EBITDA margin | 10.3% | 11.6% | (1.4 ppt) |
| Reported NPAT ex significant items | 42.8 | 72.3 | (40.9%) |
| Reported NPAT | 9.9 | 23.3 | (57.6%) |
| Statutory NPAT ex significant items | 19.8 | 15.1 | 31.3% |
| Reported EPS – fully diluted | 2.7 cps | 9.5 cps | (6.8 cps) |
| Cashflow available for debt service | 41.0 | 86.8 | (52.7%) |
| Net debt | 362.8 | 357.0 | 1.6% |
| Reported leverage | 1.8 times | 1.5 times | (0.3 times) |
Key result
Group revenue was $1,869.6 million, down 4.5% on FY25. Advertising revenue was $1,666.7 million, down 4.8%, with the company pointing to market conditions across television and audio.
The total television advertising market contracted 9.9%, while the metro audio market contracted 6.8%. SCA said share gains in television and audio, together with digital growth across 7plus, LiSTNR and The Nightly, recovered part of the decline.
Total costs were $1,677.7 million, down 3.1%. The company said that reflected merger synergies, procurement scale, operating model changes and $15 million of Commercial Broadcasting Tax relief, offsetting inflation and the first-year step-up in AFL rights.
EBITDA was $191.9 million excluding onerous contracts, down 15.8%. Including the non-cash benefit of an $8.1 million release from onerous contract provisions, EBITDA was $200.0 million. Reported NPAT was $9.9 million.
Managing Director and Chief Executive Officer Rohan Lund described the result as the first full-year outcome for the merged business, saying the company now reaches more than 20 million Australians a month.
“These are the first full-year results of our merged business.”
Lund said trading conditions were difficult, particularly in television through the fourth quarter, while digital continued to grow and the company delivered merger synergies earlier than expected.
Financial reset
Southern Cross Media Group said $30 million of annualised merger synergies had been delivered a year ahead of schedule.
The company has started an expanded program targeting $145 million to $150 million of annualised savings, including the $30 million already achieved. It also said SCA and Seven West Media borrowings had been refinanced into a single $569 million facility, with first maturities in FY30.
The group also said its ventures portfolio had been wound down.
Television
Television revenue was $1,251.5 million, down 6.6% against a television advertising market decline of 9.9%. The company said that fall was partly offset by a stronger revenue share of 41.6%, up 1.2 percentage points.
Seven was Australia’s most-watched network in FY26, with a 42.5% audience share, up 1.3 percentage points. SCA said that was a record share achieved outside an Olympics year.
7plus achieved its best result, averaging 42.2% audience share, up 4.3 percentage points. The company said television audiences were up 2.8%, driven by 7plus audiences increasing 53%.
Television digital revenue grew 10.6%. Other revenue was $86.5 million, down 6.8%, reflecting one renegotiated spectrum fee contract, with other components held flat.
Television costs fell 3.1%, with benefits from the cost program and commercial broadcasting tax relief partly offset by the AFL rights step-up and acquired content commitments. Television EBITDA excluding onerous contracts was $109.6 million, down 32.3%.
Audio
Audio revenue was $429.9 million, up 1.4%, making it the strongest divisional revenue result across the group.
Metro 25-54 audience share grew 1.6 percentage points to 36.8%, with gains across all markets. The company said audiences responded to AFL broadcasts, refreshed music formats and talent lineups.
LiSTNR reached 2.7 million registered users, up 12.5%. Audio digital revenue grew $6.5 million, or 14.3%, more than offsetting a 0.9% decline in metro and regional radio broadcast revenue.
Audio costs fell 2.2%, with savings from automation, process improvements and discretionary cost management. Audio EBITDA was $100.4 million, up 15.5%, with margin up 2.8 percentage points to 23.4%.
Publishing
Publishing revenue was $187.0 million, down 3.1%. Advertising revenue fell 5.4%, while circulation and subscription revenue held flat. Digital revenue grew 5.7%.
SCA said The West brand group was WA’s number one digital news source, with 40 million monthly page views and a national ranking of seventh. It also said The West Australian’s weekday and Saturday editions had the highest market reach of any metropolitan masthead in Australia.
The Nightly, launched in 2024, was described as a top 25 national news site, with open rates up 24.6% year on year. The Game app registered users increased 16.5% following AFL expansion and an NRL soft launch.
Publishing costs fell 3.2% through targeted cost management in personnel, printing and pagination. Publishing EBITDA was $26.2 million, down 2.4%.
Corporate, cashflow and balance sheet
Corporate costs were $45.5 million, down 8.2%. SCA said the reduction reflected savings from the merger, including lower compliance costs, employee costs and early efficiency benefits on some renegotiated contracts.
Cashflow available for debt service was $41.0 million, down 52.7%. The company said the decline reflected working capital movements, mainly the unwinding of accrued leave on redundancies, and non-cash onerous contract items.
Capital expenditure was $27.5 million, down 22.5%, and was invested in digital assets and broadcast equipment.
Net debt was $362.8 million, up 1.6%, after merger transaction costs of $22.0 million and dividends of $9.6 million, partly offset by $12.1 million from the sale of Ventures interests. Leverage was 1.8 times, up from 1.5 times.
Trading outlook
For the first quarter of FY27, SCA said television revenue was tracking flat year-on-year, with share gains from the Commonwealth Games and AFL finals offsetting a market down mid-single digits.
Audio revenue was up low single digits, while publishing revenue was stable year-on-year.
The company said the advertising market remained short and volatile, with consumer and advertiser sentiment variable. It said its cost program was underway, with total operating expenses expected to grow below inflation and cost-out actions tracking to plan for FY27 delivery.
Southern Cross Media Group’s Annual General Meeting will be held on 5 November 2026.
More corporate and programming coverage is available through TV Central’s Channel 7 section. Public company information is available from the Southern Cross Media Group website.
