Nine Entertainment Expects Low Single-Digit Growth in EBITDA For FY20

  • Nov 12, 2019 AEDT
  • Team Kalkine

Nine Entertainment Co. Holdings Limited (ASX: NEC) organised its Annual General Meeting in Sydney and made the following comments regarding its current trading and FY20 outlook:

  • Nine’s Metro Free To Air business achieved a leading revenue share of 39.8%, though the market was down by 6.4% on last year.
  • FTA costs are now expected to be 2.5% higher.
  • The Group continues to invest in growth initiatives selectively.
  • The BVOD market grew by 34% in the September quarter and, 9Now’s share remains just under 50%.
  • NEC is likely to report a single-digit growth in FY20 Pro Forma Group EBITDA, pre the impact of AASB16.

As at 1:47 PM AEST, NEC quoted $1.740, down by 5.6%.

 

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