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General Information

APN News and Media Limited
APN
http://www.apn.com.au
Publishing
679
1,029

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$0.67 $0.66 $0.69 $0.66 $0.66 284428 $0.01 ( 1.52% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Hold
03/07/2015
2

Company Overview

Business Description
APN News and Media Limited (APN) is a media, entertainment and technology company with assets in Australia, New Zealand and Hong Kong. The company operates through six segments: NZME.Publishing; NZME. Radio; GrabOne; Australian Regional Media; Australian Radio Network; and Outdoor.
Strategy Analysis
APN have diversified media operations spanning publishing, radio, online and outdoor advertising. This provides cross selling opportunities and reduces reliance on any one market. In Australian regional publishing, APN management believes the business is well positioned in high-growth regional centres stretching from northern New South Wales to Mackay. Management aims to capitalise on its strong market position in NZ and Australian regional markets by providing regional news online under various mastheads. Outdoor has benefited from structural changes in its markets, including a growing sophistication in the product forms and in client measurement and expectations. More recently, APN has diversified into digital. Management view digital as a game changer, with growth potential in Grabone, brandsExclusive, Sella, jimungo and CC Media. APN reported a net loss of $455.8m for the year ended 31 December 2012. Revenues from ordinary activities were $928.6m, down 13% from last year. Basic and Diluted EPS was (70.4) cents compared to (7.3) cents last year. Net operating cash flow was $87.27m compared to $123.06m last year. No final dividend was declared, taking the full year dividend to 1.5 cents compared with 8.5 cents last year.

Financial Summary

Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 0.0 8.3 9.3% 7.9 2.0 3.0% 0.0%
2015 F 0.0 7.6 12.7% 8.7 0.0 0.0% 0.0%
2014 A 73.9 6.8 -21.6% 10.2 0.0 0.0% 0.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
APN (APN) $720M -0.2160 0.1274 0.0933 10.3704 9.1984 8.4135 0.00% 0.00% 2.81%
Fairfax Media (FXJ) $1,948M 0.0000 -0.1133 0.0924 11.9970 13.5294 12.3846 4.97% 4.91% 5.48%
News Corporation (NWS) $942M -0.5279 -0.7158 0.1343 10.1901 35.8523 31.6067 0.00% 0.00% 0.00%
Seven West Media (SWM) $1,536M -0.1546 -0.1643 -0.2559 5.2293 6.2577 8.4093 11.41% 10.84% 6.15%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 1.27 9.18 1.55 0.83
Market 0.90 15.60 1.33 1.24
Sector 0.89 12.20 1.58 1.20

Directors

Name Position Start Date
Mr Albert Edward Harris Non-Executive Deputy Chairman 11/03/1992
Sir John Anthony Anderson Non-Executive Director 26/03/2015
Mr Peter Damian Cullinane Non-Executive Director 01/11/2013
Mr Paul Connolly Non-Executive Director 18/10/2012
Ms Anne Luise Templeman-Jones Non-Executive Director 04/06/2013
Mr Peter Maxwell Cosgrove Non-Executive Director, Non-Executive Chairman 02/12/2003

Management

Name Position
Michael Bruce Miller Chief Executive Officer
Rob Atkinson Chief Executive Officer, Adshel
Ciaran Davis Chief Executive Officer, Australian Radio Network
Neil Monaghan Chief Executive Officer, Australian Regional Media
Jane Hastings Chief Executive Officer, NZME
Jeff Howard Chief Financial Officer
Yvette Lamont Company Secretary,Group General Counsel

Substantial Shareholders

Holding Name
317,357,027 (30.84%) Baycliff Limited & Denis O'Brien
191,541,073 (18.61%) Independent News & Media PLC
181,932,188 (17.68%) Allan Gray Australia Pty Ltd

Calendar of Events

Date Event
14 March 2016 Report (Annual)
11 February 2016 Report (Prelim)
19 August 2015 Report (Interim)
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