Earnings fall 54% at Seven as the FTA market drops 14.1%

August 25, 2020 10:04

Seven West Media saw its earnings before interest and taxes (EBIT) fall 54% for the 2020 financial year – $98.654m from $212.812m for FY19. The business reports the free to air (FTA) broadcast market dropped 14.1% across the period, compared to 15.2% for the overall advertising market.

The fourth quarter alone saw FTA fall 33.7%. The business reported a net profit after tax (NPAT) loss of $200m, an improvement from last year’s $327.5m loss.

CEO James Warburton, who has now had a year in the top role after coming into SWM shortly before its FY19 results, said the business was well on its way with the transformation he had been planning since his arrival.

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Hannah Blackiston

Hannah Blackiston was the deputy editor of Mumbrella. She worked with the company from March 2019 to November 2020.

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1 COMMENTS

Steve 27 Aug 20

Nine is nearly twice the size / revenue of SWM and have twice loss.
eg. Nine & SWM are close to equal in their success/loss this past fin year… Not shown in SWM’s reports though.

Nine 2020 f/y: $2.2b net rev & $575m net loss
Seven 202 y/y: $1.2b net rev & $200m net loss

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