Seven West Media : Half Yearly Reports and Accounts

19 February 2019

Company Announcements Office Australian Securities Exchange Limited Level 6, 20 Bridge Street

Sydney NSW 2000

By electronic lodgment

Total Pages: 34 (including covering letter)

Dear Sir / Madam

HALF-YEAR FINANCIAL REPORT

In accordance with the Listing Rules, following are the Half-Year Report Appendix 4D and the Half-Year Financial Report at 29 December 2018.

Yours faithfully

Warren Coatsworth Company Secretary

SEVEN WEST MEDIA LIMITED ABN 91 053 480 845

50 HASLER ROAD, OSBORNE PARK WA 6017 AUSTRALIA T [phone] F [phone]

Seven West Media Limited

Appendix 4D

Half Year Financial Report for the half year ended 29 December 2018

Results for announcement to the market

Restated3
Dec 2018	Dec 2017
$'000	$'000	Movement
Reported
Revenue from ordinary activities	797,441	809,418	Down 1.5%
Other income	602	708	Down 10.9%
Revenue and other income	798,043	810,126	Down 1.5%
Profit from ordinary activities after tax attributable to members	86,161	100,011	Down 13.8%
Net profit for the period attributable to members	86,161	100,011	Down 13.8%
Additional information
Underlying group EBIT1	146,767	159,311	Down 7.9%
Underlying group EBITDA2	161,488	176,783	Down 8.8%
Significant items before tax (refer Note 4)	(8,587)	-	N/A
Profit before tax excluding significant items (refer Note 1.1C)	128,817	141,344	Down 8.8%
Profit after tax excluding significant items net of tax	91,797	99,675	Down 7.8%

The current reporting period relates to the period from 01 July 2018 to 29 December 2018 and the previous reporting period relates to the period from 25 June 2017 to 30 December 2017.

Dividends

Amount per securityFranked amount per security

Final dividend 2018 (paid during current reporting period) Interim dividend 2019

nil nilnil nil

Net Tangible Assets

Net tangible asset backing per ordinary share (cents)

(0)

(0)

Note 1: Underlying EBIT is profit before significant items, net finance costs and tax

Note 2: Underlying EBITDA is profit before significant items, net finance costs, tax, depreciation and amortisation

Note 3: Prior year figures have been restated for retrospective transition method of AASB 9 Financial Instruments standard

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Table of Contents

Directors' Report 1

Review of Operations 2

Auditor's Independence Declaration 6

Financial Statements

Consolidated Statement of Profit or Loss and Other Comprehensive Income 7

Consolidated Statement of Financial Position 8

Consolidated Statement of Changes in Equity 9

Consolidated Statement of Cash Flows 10

Notes to the Financial Statements 11

Directors' Declaration 28

Independent Auditor's Report 29

Directors' Report

Seven West Media Limited ABN 91 053 480 845

FOR THE HALF YEAR ENDED 29 DECEMBER 2018

The Directors of Seven West Media Limited (the Company) are pleased to present their report together with the consolidated financial statements for the half year ended 29 December 2018 and the review report thereon.

Directors

The Directors of Seven West Media Limited at any time during or since the end of the half year are:

Name	Period of Directorship
Non-Executive
Kerry Matthew Stokes AC	Director since September 2008 and
(Chairman)	Chairman since December 2008
John Henry Alexander	Director since May 2013
Teresa Dyson	Director since November 2017
David Evans	Director since August 2012
Peter Joshua Thomas Gammell	Director since September 2008
Colette Garnsey OAM	Director since December 2018
The Hon. Jeffrey Gibb Kennett AC	Director since June 2015
Michael Malone	Director since June 2015
Ryan Kerry Stokes	Director since August 2012
Michael Ziegelaar	Director since November 2017
Executive
Timothy Worner	Managing Director & Chief Executive Officer
(Managing Director & Chief Executive Officer)	since June 2015
Review of results and operations

A review of operations and of the results of those operations is attached and forms part of this Report.

Lead Auditor's Independence Declaration under Section 307C of the Corporations Act 2001

The lead auditor's independence declaration is set out on page 6 and forms part of the Directors' Report for the half year ended 29 December 2018.

Rounding

The Company is of a kind referred to in ASIC Corporations Instrument 2016/191 and in accordance with that Instrument, amounts in the consolidated financial statements and Directors' Report have been rounded off to the nearest one thousand dollars unless otherwise stated.

Signed in accordance with a resolution of the Directors.

………………………… ..

KM Stokes AC Chairman

19 February 2019

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