Mike Sneesby to give permanent staff a ‘recognition bonus’ after positive FY22 results

Nine’s chief executive and director of Nine, Mike Sneesby, is giving his permanent employees who joined before 1 April a ‘Recognition Bonus’ of $1750.

In an email to staff on Wednesday, Sneesby said the strength of the business and financial performance has come from some great achievements across all parts of the company.

Mike Sneesby

“The effort, professionalism, and sheer tenacity from each and every one of you to drive that success is certainly appreciated by myself, the Board, and the leadership team,” said Sneesby.

“I’m pleased to announce that a ‘Recognition Bonus’ of $1750 will be paid to all permanent employees who joined Nine before 1 April 2022, and who don’t already participate in other company incentive plans.

“This is our way of saying ‘thank you’ for all that you have done this financial year, your commitment to excellence, and your investment in our future,” he added.

“The Recognition Bonus will be paid in August to eligible employees, who are employed by Nine at the time, and will be separate from the annual salary review process which will go ahead as normal.”

In February, Nine Entertainment Co. released its most recent financial results for the six months to December 2021.

For the period, Nine reported revenue of $1.3 billion and a net profit after tax of $213 million, which included a post-tax specific item expense of $12 million.

Group EBITDA, before specific items, of $406 million equated to a growth of 15%, ahead of the 10% guidance given at the AGM in November. Profit after tax and minorities, before specific items, was $213 million, up 20% from the previous corresponding period.

Key takeaways included continued audience strength across all key platforms – free-to-air, 9Now, publishing, radio, and Stan.

Record revenue year (CY2021) for Total Television (FTA + BVOD) with strong growth from all television platforms. Total Television EBITDA growth of 16% on revenue growth of 11%

Growth to over 2.5 million active subscribers currently, driving 23% revenue growth at Stan. Further growth at Stan Sport, supporting the increased outlook for Stan EBITDA.


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