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    SWM   AU000000SWM4

SEVEN WEST MEDIA LIMITED

(SWM)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 06/17
0.495 AUD   +23.75%
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Seven West Media : signs Google and F...

05/02/2021 | 09:03pm EDT

Monday, 3 May 2021

Seven West Media signs Google and Facebook agreements

Provides FY21 trading and debt update

Seven West Media (ASX: SWM) today confirmed it has finalised its partnership with Google and has also signed a long-form agreement with Facebook awaiting signature by the latter overnight.

The agreements are consistent with the respective Letters of Intent announced in February. The agreement with Google is five years and the agreement with Facebook is three years.

SWM Managing Director and Chief Executive Officer, James Warburton, said: "Completion of the two agreements confirms the strong recognition of the quality and credibility of our leading television and newspaper news brands and entertainment content. Together, they underpin our sustainability and enable us to continue to build our digital platform.

"These partnerships have been made possible by the introduction of the Media Bargaining Code. This has been an important reform led by Prime Minister Scott Morrison, the Chair of the Australian Competition and Consumer Commission, Rod Sims, Treasurer Josh Frydenberg and Communications Minister Paul Fletcher."

SWM anticipates the digital revenue associated with the agreements will commence before the end of FY21, with the majority to be derived in FY22. Minimal incremental costs are required to deliver the revenue.

With regards to trading, Seven's Q3 FY21 advertising revenue grew at the upper end of the 7-10% range provided at the first-half results briefing in February.

Net debt is forecast to be approximately $270 million to $280 million by the end of FY21. Net proceeds of $45 million from the Airtasker IPO in March were used to retire debt, bringing total debt retirement to $195 million in the second half to date.

Mr Warburton said: "The transformation of SWM continues. Finalisation of the Google and Facebook agreements completes one of the key objectives outlined in our February results, delivering further digital transformation, and realising the true value of our news and current affairs product on third-party digital platforms.

"Our balance sheet is now in a much stronger position and our FY21 Q4 content is positioned to deliver audience and share growth, particularly among people 25 to 54 and on 7plus."

This release has been authorised to be given to the ASX by the Managing Director and CEO of Seven West Media Limited.

Seven West Media Limited / 50 Hasler Road, Osborne Park WA 6017 Australia / GPO Box D162, Perth WA 6840 Australia T +61 8 9344 0777 / ABN 91 053 480 845

For further information please contact:

Investors / Analysts:

Media:

Alan Stuart

Neil Shoebridge

astuart@seven.com.au

neil@skmediagroup.com.au

02 8777 7211

0417 511 012

About Seven West Media

Seven West Media (ASX: SWM) is one of Australia's most prominent media companies, with a market-leading presence in content production across broadcast television, publishing and digital.

The company is home to some of Australia's most renowned media businesses, including the Seven Network and its affiliate channels 7two, 7mate, 7flix; broadcast video on demand platform 7plus; 7NEWS.com.au; The West Australian; and The Sunday Times. With iconic brands such as Australia's leading news and breakfast programs 7NEWS and Sunrise, Big Brother, SAS Australia, Farmer Wants A Wife, The Voice, Dancing With The Stars: All Stars, Home and Away and Better Homes and Gardens, Seven West Media is also the broadcast partner of the AFL, Cricket Australia, Supercars and the Olympics.

Seven West Media Limited / 8 Central Avenue, Eveleigh NSW 2015 Australia / PO Box 7077, Alexandria NSW 2015 Australia T +61 2 8777 7777 / ABN 91 053 480 845

Disclaimer

Seven West Media Limited published this content on 03 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2021 01:02:00 UTC.


© Publicnow 2021
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More news
Financials
Sales 2021 1 286 M 968 M 968 M
Net income 2021 147 M 110 M 110 M
Net Debt 2021 258 M 194 M 194 M
P/E ratio 2021 5,26x
Yield 2021 0,04%
Capitalization 761 M 576 M 573 M
EV / Sales 2021 0,79x
EV / Sales 2022 0,74x
Nbr of Employees 4 607
Free-Float 53,7%
Chart SEVEN WEST MEDIA LIMITED
Duration : Period :
Seven West Media Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SEVEN WEST MEDIA LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 0,62 AUD
Last Close Price 0,50 AUD
Spread / Highest target 61,6%
Spread / Average Target 24,6%
Spread / Lowest Target -5,05%
EPS Revisions
Managers and Directors
NameTitle
James R. Warburton Chief Executive Officer, MD & Executive Director
Jeffrey Peter Howard Chief Financial Officer
Kerry Matthew Stokes Chairman
David Evans Independent Non-Executive Director
John Henry Alexander Independent Non-Executive Director
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