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Southern Cross Media Group Limited (ASX:SXL)

ALERT: Price-sensitive ASX Announcement for SXL
Current share price for SXL : $0.545 -0.115 (-17.42%)+
Announcement
Release
25 Aug 2025 8:30AM
Price at Release
$0.660
Full Release
download
Summary
Southern Cross Media Group Limited (SXL) released its Appendix 4E and Financial Report for the year ended 30 June 2023. The report outlines the company’s financial performance, including a statutory net loss after tax of $387.3 million, primarily impacted by non-cash impairment charges against goodwill and radio licenses. The underlying net profit after tax was $21.3 million, reflecting the challenging advertising market and economic conditions. The company’s revenue decreased by 2.2% to $519.7 million, with declines in both audio and television segments. Southern Cross Media maintained a focus on cost management, reducing expenses by 2.6%. The Board did not declare a final dividend. The report also discusses strategic initiatives, investments in digital audio platforms, and continued cost discipline to navigate a volatile market environment.
Key Points
  • Statutory net loss after tax of $387.3 million due to non-cash impairment charges.
  • Underlying net profit after tax was $21.3 million.
  • Revenue declined by 2.2% to $519.7 million year-on-year.
  • Expenses reduced by 2.6% through disciplined cost management.
  • No final dividend declared for the financial year ended 30 June 2023.
  • Advertising market conditions remained challenging, impacting revenue.
  • Strategic investments continued in digital audio platforms and content.
  • Impairment charges primarily related to goodwill and radio licenses.
  • Board and management remain focused on balancing investment with cost control.
  • Company positioning itself for long-term growth amid ongoing market volatility.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.