Seven West Media Ltd

SWM: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$1.30	Hbjt	Zvqy

Seven West Media Earnings: Controlling What It Can While Market Remains in Doldrums

Brian Han

Aug 14, 2024

While shares in Seven West Media continue to languish, we see no reasons to change our AUD 0.40 fair value estimate following the fiscal 2024 results. The 33% fall in underlying EBITDA to AUD 187 million was in line with our lower-than-consensus expectations. A weak TV advertising market continues to wreak havoc, down 8% across linear and digital in fiscal 2024 and still tracking lower in the new fiscal year to-date, not helped by the Olympics telecast on a rival network. However, management delivered on the key metrics within its control.

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