KCQs 2012 Report

Key Concepts - 2012 Annual Report

Key results:

-          Revenue $929 million, down 13%

-          EBITDA $156 million, down 25%

-          Adjusted net profit after tax $54 million

-          Statutory net loss after tax ($456 million)

Overall: 

Net debt reduced by 180 million – primarily due to the formation of the APN Outdoor joint venture

Did not pay final dividends in 2012

Reducing debt is an ongoing objective

Difficult and disappointing trade environment 

Weak advertising had a heavy negative impacted

Strong performance of ARN (Australian Radio Network), Adshel and GrabOne.

CEO dismissed - New CEO not yet appointed

Looking forward to a future with new management to gain better fiscal results for investors