NZME LIMITED For personal use only
MARKET ANNOUNCEMENT
23 February 2022
FOR IMMEDIATE RELEASE
NZME 2021 Full Year Results
Please refer to the following documents in relation to the NZME Full Year Results to 31 December 2021:
- NZME 2021 Full Year Results NZX Form
- NZME 2021 Full Year Results Announcement
- NZME 2021 Full Year Results Investor Presentation
- NZME 2021 Annual Report and Consolidated Financial Statements
- Distribution Notice - NZX Form
- ASX Compliance Letter
ENDS
Authorised by Michael Boggs, Chief Executive Officer.
For further information:
David Mackrell
Chief Financial Officer
T: +64 21 311 911
Email: david.mackrell@nzme.co.nz
About NZME
New Zealand Media and Entertainment (NZME) is an integrated media company, with a portfolio of market leading news, entertainment and real estate brands strategically positioned across a network of digital, print and audio platforms.
With a combined audience of 3.5 million New Zealanders*, NZME supports commercial partners to grow customer engagement with a data driven, audience and customer centric approach. NZME is listed on the NZX Main Board (code NZM) with a foreign exempt listing on the ASX (code NZM).
*SOURCE: Nielsen CMI Fused Q4 20 - Q3 21 November 2021 AP15+
NZME Limited. 2-4 Graham Street, Private Bag 92198, Victoria Street West, Auckland. | 1 |
For personal use only
Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Results for announcement to the market
Name of issuer | NZME Limited | |||||||||
Reporting Period | 12 months to 31 December 2021 | |||||||||
Previous Reporting Period | 12 months to 31 December 2020 | |||||||||
Currency | NZD | |||||||||
Amount (NZ$000s) | Percentage change | |||||||||
Revenue from continuing | $365,634 | 9% | ||||||||
operations | ||||||||||
Total Revenue | $365,634 | 9% | ||||||||
Net profit/(loss) from continuing | $34,645 | 134% | ||||||||
operations | ||||||||||
Total net profit/(loss) | $34,645 | 134% | ||||||||
Interim/Final Dividend | ||||||||||
Amount per Quoted Equity Security | $0.05000000 | |||||||||
Imputed amount per Quoted Equity | $0.01944444 | |||||||||
Security | ||||||||||
Record Date | 11 March 2022 | |||||||||
Dividend Payment Date | 23 March 2022 | |||||||||
Current period | Prior comparable period | |||||||||
Net tangible assets per Quoted | $0.08 | $(0.09) | ||||||||
Equity Security | ||||||||||
A brief explanation of any of the | Refer to attached 2021 Annual Report and the 2021 Full | |||||||||
figures above necessary to enable | Year Results Presentation for full commentary on the | |||||||||
the figures to be understood | results. The percentage change calculations and prior | |||||||||
comparable period figures are based on the restated 2020 | ||||||||||
numbers as reported in the 2021 Annual Report. | ||||||||||
Authority for this announcement | ||||||||||
Name of person authorised to | Michael Boggs, CEO | |||||||||
make this announcement | ||||||||||
Contact person for this | David Mackrell, Chief Financial Officer | |||||||||
announcement | ||||||||||
Contact phone number | 021 311 911 | |||||||||
Contact email address | david.mackrell@nzme.co.nz | |||||||||
Date of release through MAP | 23/02/2022 | |||||||||
Audited financial statements accompany this announcement.
MARKET ANNOUNCEMENT
23 February 2022
FOR IMMEDIATE RELEASE
For personal use only
NZME LIMITED 2021 FULL YEAR FINANCIAL RESULTS
Revenue growth through digital transformation outpaced the impact of COVID-19 in 2021
AUCKLAND, 23 February 2022: NZME Limited (NZX: NZM, ASX:NZM) ("NZME") has announced its financial results for the full year ended 31 December 2021, reporting 5% Operating Revenue growth to $349.2 million, Statutory Net Profit After Tax ("NPAT") of $34.4 million and Operating Earnings Before Interest Tax Depreciation and Amortisation ("Operating EBITDA")1 of $66.0 million. Operating Earnings Per Share ("EPS") increased to 11.9 cents per share, compared to 11.3 cents per share in 20201.
NZME Chief Executive Michael Boggs says he's proud of what the business achieved in 2021, despite the challenges of COVID-19.
"As I reflect on 2021, I am very proud of what we achieved, especially in what has been a difficult and uncertain trading environment with the reintroduction of COVID-19 restrictions across the country. We grew our audience reach to 3.5 million2 across our platforms and achieved strong financial results, growing revenue across NZME's three strategic pillars: Audio, Publishing and OneRoof.
"I am also incredibly proud of the important role NZME played in keeping Kiwis in the know with the launch of The 90% Project and the business-wide #RollUpYourSleevesNZ campaign. By 16 December, 90% of the eligible population had received two doses of the vaccine, helping Kiwis stay safe against COVID-19 and go about their daily lives. We recognise the responsibility that comes with acting as a voice of record for New Zealand and we continued to use our platforms and reach to make a positive impact to our community in 2021," he says.
NZME demonstrated progress in its digital transformation, reporting a 37% increase in total digital revenue compared to the 2020 financial year.
"NZME's ability to generate advertising revenue has remained resilient against COVID-19 related headwinds in 2021, growing 13% compared to 2020 despite nationwide COVID-19 restrictions in the second half of 2021. Our commitment to putting customers first, especially through these challenging times resulted in a strong finish to the year with November and December 2021 advertising revenue exceeding 2019 levels as customers utilised NZME's platforms to build their own brands," says Boggs.
- Operating results presented are non-GAAP measures that include the impact of NZ IFRS 16 and the IFRIC agenda decision on Software-as-a-Service (SaaS) arrangements, however, exclude exceptional items to allow for a like for like comparison between 2020 and 2021 financial years. For the avoidance of doubt, 2020 has been restated to include the impact of the IFRIC agenda decision on SaaS arrangements. Please refer to pages 38-39 of this results presentation for a detailed reconciliation. The 2020 operating and statutory results include $8.6 million (net) of Covid-19 government wage subsidy received in H1 2020.
2 Nielsen CMI Fused Q4 20 - Q3 21 November 2021 AP15+.
NZME Limited. 2-4 Graham Street, Private Bag 92198, Victoria Street West, Auckland. | 1 |
MARKET ANNOUNCEMENT
23 February 2022
FOR IMMEDIATE RELEASE
For personal use only
NZME LIMITED 2021 FULL YEAR FINANCIAL RESULTS
Revenue growth through digital transformation outpaced the impact of COVID-19 in 2021
AUCKLAND, 23 February 2022: NZME Limited (NZX: NZM, ASX:NZM) ("NZME") has announced its financial results for the full year ended 31 December 2021, reporting 5% Operating Revenue growth to $349.2 million, Statutory Net Profit After Tax ("NPAT") of $34.4 million and Operating Earnings Before Interest Tax Depreciation and Amortisation ("Operating EBITDA")1 of $66.0 million. Operating Earnings Per Share ("EPS") increased to 11.9 cents per share, compared to 11.3 cents per share in 20201.
NZME Chief Executive Michael Boggs says he's proud of what the business achieved in 2021, despite the challenges of COVID-19.
"As I reflect on 2021, I am very proud of what we achieved, especially in what has been a difficult and uncertain trading environment with the reintroduction of COVID-19 restrictions across the country. We grew our audience reach to 3.5 million2 across our platforms and achieved strong financial results, growing revenue across NZME's three strategic pillars: Audio, Publishing and OneRoof.
"I am also incredibly proud of the important role NZME played in keeping Kiwis in the know with the launch of The 90% Project and the business-wide #RollUpYourSleevesNZ campaign. By 16 December, 90% of the eligible population had received two doses of the vaccine, helping Kiwis stay safe against COVID-19 and go about their daily lives. We recognise the responsibility that comes with acting as a voice of record for New Zealand and we continued to use our platforms and reach to make a positive impact to our community in 2021," he says.
NZME demonstrated progress in its digital transformation, reporting a 37% increase in total digital revenue compared to the 2020 financial year.
"NZME's ability to generate advertising revenue has remained resilient against COVID-19 related headwinds in 2021, growing 13% compared to 2020 despite nationwide COVID-19 restrictions in the second half of 2021. Our commitment to putting customers first, especially through these challenging times resulted in a strong finish to the year with November and December 2021 advertising revenue exceeding 2019 levels as customers utilised NZME's platforms to build their own brands," says Boggs.
- Operating results presented are non-GAAP measures that include the impact of NZ IFRS 16 and the IFRIC agenda decision on Software-as-a-Service (SaaS) arrangements, however, exclude exceptional items to allow for a like for like comparison between 2020 and 2021 financial years. For the avoidance of doubt, 2020 has been restated to include the impact of the IFRIC agenda decision on SaaS arrangements. Please refer to pages 38-39 of this results presentation for a detailed reconciliation. The 2020 operating and statutory results include $8.6 million (net) of Covid-19 government wage subsidy received in H1 2020.
2 Nielsen CMI Fused Q4 20 - Q3 21 November 2021 AP15+.
NZME Limited. 2-4 Graham Street, Private Bag 92198, Victoria Street West, Auckland. | 1 |
For personal use only
MARKET ANNOUNCEMENT
2021 Full Year Results at a glance:
- Statutory NPAT of $34.4 million, up from $14.5 million in 2020. 2021 Statutory NPAT includes $15.4 million gain on sale of GrabOne.
- Operating NPAT1 of $23.6 million and Operating EPS1 of 11.9 cents per share, an increase of 6% compared to 2020.
- 2021 Operating EBITDA1 of $66.0 million, in line with 2020.
- Operating Revenue1 of $349.2 million, up from $331.2 million. 2020 Operating Revenue1 included a net $8.6 million government wage subsidy received in the first half of 2020.
- Total digital revenue grew 37% to $79.5 million in 2021.
- Overall audience increased from 3.3 million to 3.5 million in 20212 and digital users per month grew to 2.8 million, up from 2.6 million in 20203.
- Audio advertising revenue increased 11% year-on-year to $101 million and total radio audience market share increased 1.8 percentage points to 37.4%4.
- Over 191,000 subscribers across print and digital, including 83,000 paid digital-only subscribers, driving a 75% increase in digital subscription revenue.
- Growth in advertising revenue market share was achieved across all three key channels in 2021; to 40.9%5 in radio advertising, 47.4%6 in print advertising and 24.3%7 in digital display advertising.
- Operating Expenses1 were 7% higher at $283.2 million, reflecting the permanent savings achieved in 2020, offset by higher volumes and activity. 2020 Operating Expenses1 also included temporary cost savings related to cost initiatives in response to Covid-19.
- Achieved a net cash position of $13.5 million, an improvement of $47.4 million compared to the 2020 net debt position.
- Fully imputed and fully franked final dividend declared of 5.0 cents per share, taking total dividends for the year to 8.0 cents per share.
NZME Chairman, Barbara Chapman says despite 2021 being another disrupted and challenging year due to COVID-19, NZME's guiding principles and strategic priorities remained relevant and robust.
- Nielsen CMI Fused Q4 20 - Q3 21, Nov 2021, AP 15+ compared to fused Nov 2020. Note: Dec is not released until March 2022.
-
GfK Radio Audience Measurement, Commercial Stations, NZME excl. Partners, M-S12mn-12mn, Market Share %, S4 2020 - S4 2021, AP10+.
5 PwC Radio advertising market benchmark report, Q1 2021 - Q4 2021. Note: report excludes independent broadcasters and contra revenue.
6 PwC NPA quarterly performance comparison report, Q1 2021 - Q4 2021. Note: report excludes any publishers that are not part of the NPA.
7 IAB NZ Digital advertising revenue report - Total Display, Q1 2021 - Q2 2021. *only up until Q2 2021, Q3/Q4 report not available yet. Note: excludes digital audio and is display only.
NZME Limited. 2-4 Graham Street, Private Bag 92198, Victoria Street West, Auckland. | 2 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
NZME Ltd. published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 20:52:05 UTC.
