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General Information

Southern Cross Media Group Limited
SXL
http://www.southerncrossaustereo.com.au
Broadcasting
731
754

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$0.97 $0.93 $0.98 $0.92 $0.92 2094777 $0.05 ( 5.43% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Sell
29/06/2015
3

Company Overview

Business Description
Southern Cross Media Group Limited (SXL) is a media provider which owns and engages in the broadcasting of content on free to air commercial radio (FM and digital), TV and online media platforms across Australia.
Strategy Analysis
SXL is focused on its core Australian television and radio broadcasting assets. Its key short-term objectives will be to ensure a smooth integration of the Austereo acquisition and the realisation of full synergy benefits. Longer term, SXL want to harness cross selling between advertising mediums and profit from a national presence. Southern Cross Media Group reported NPAT down 52% to $45.13m for the half-year ended 31 December 2012. The decrease in NPAT has been impacted by the one-off $39.5m income tax benefit recognised in the prior half year as a result of the companies acquired in the Austereo business combination entering into the tax consolidated group of Southern Cross Media Group. Revenues from ordinary activities were $327.68m, down 10% from the same period last year. Basic and Diluted EPS was 6.4 cents compared to 13.3 cents last year. Net operating cash flow was $66.67m compared to $109.74m last year. The interim dividend declared was 4.5 cents compared with 5.0 cents last year.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 77.7 11.0 16.4% 8.8 5.0 5.2% 100.0%
2015 F 66.7 9.5 -16.3% 10.3 5.0 5.2% 100.0%
2014 A 79.7 11.3 -6.8% 13.3 7.5 5.0% 100.0%

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
Nine Entertainment Co. Holdings (NEC) $1,374M 0.0000 -0.1439 0.1213 8.4932 9.9209 8.8477 2.79% 6.18% 9.81%
Prime Media Group (PRT) $258M -0.3705 0.1013 -0.0119 8.4029 7.6299 7.7218 9.65% 10.07% 10.00%
Southern Cross Media (SXL) $693M -0.2121 -0.1780 0.0636 8.1488 9.9138 9.3212 8.15% 6.51% 7.10%
Ten Network (TEN) $513M 0.0000 0.0000 0.0000 0.0000 0.0000 195.0000 0.00% 0.00% 0.00%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.90 10.45 0.56 0.00
Market 0.90 15.80 1.30 1.25
Sector 0.91 11.80 1.63 1.20

Directors

Name Position Start Date
Mr Grant Blackley Chief Executive Officer, Managing Director 29/06/2015
Mr Peter Hallam Bush Non-Executive Chairman, Non-Executive Director 25/02/2015
Mr Leon Pasternak Non-Executive Deputy Chairman 26/09/2005
Mr Peter Mervyn Harvie Non-Executive Director 01/08/2011
Ms Kathryn(Kathy) J Gramp Non-Executive Director 01/09/2014
Mr Robert (Rob) Andrew Murray Non-Executive Director 01/09/2014
Mr Christopher (Chris) de Boer Non-Executive Director 20/09/2005
Mr Glen Francis Boreham Non-Executive Director 01/09/2014
Ms Helen Nash Non-Executive Director 23/04/2015

Management

Name Position
Guy Dobson Chief Content Officer
Peter Lewis Chief Financial Officer
Jennifer Martin Company Secretary
Clive Dickens Director of Digital & Innovation
Craig Bruce Head of Content
Andrea Ingham National Sales Director

Substantial Shareholders

Holding Name
186,629,464 (26.46%) Macquarie Group Limited
106,953,118 (15.17%) Allan Gray Australia Pty Ltd
35,293,487 (5%) Dimensional Entities

Calendar of Events

Date Event
24 February 2016 Report (Interim)
18 September 2015 Report (Annual)
08 September 2015 Report (Prelim)
19 August 2015 Report (Prelim)
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