APN releases annual report

Following APN’s AGM last month, the company has now released its annual report.

Report highlights include:

  • $63m of net cash inflows, ahead of target
  • More than $40m of publishing cost savings, ahead of target
  • Strong radio market share gains and earnings growth
  • Statutory net profit after tax $2.6m
  • EBITDA $162.8m (best growth rate since 2005)
  • NPAT $59.5m (best growth rate since 2007) 

APN’s business overview for radio reads:

Australian Radio Network (ARN) owns or has investments in 12 radio stations in Sydney, Melbourne, Brisbane, Adelaide, Canberra and Perth. It broadcasts to over four million listeners each week via brands including the Classic Hits and Mix networks; as well as Sydney stations KIIS 1065 and The Edge 96.1.

The Radio Network (TRN) operates seven core radio networks that broadcast to approximately 1.7 million listeners each week across New Zealand, being Newstalk ZB, Radio Sport, Coast, Classic Hits, ZM, Radio Hauraki and Flava.

Radio revenue for APN was up for both The Radio Network and the ARN:

You can view the entire report here.

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