KCQs 2013 Report

Key Concepts - 2013 Annual Report

Key Results:

-          Statutory net profit after tax $2.6 million

-          EBITDA $162.8 million up 8%

-          NPAT $59.5 million up 10%

-          Cash flow $63 million

-          Profit of $2.6 million compared to a loss of $507.4 million in 2012.

Overall:

APN has streamlined operations and positioned the company for growth:

Beginning of 2013, 7 out of the 10 businesses APN part owned or operated as joint ventures - APN sold a number of asssets included newspaper and magazine titles, the remaining interest in the APN Outdoor joint venture, sale of e-commerce business brandsExclusive.

APN fully owns 6 of its businesses. They bought iNC Digital Media and the remaining 50% interest in our Australian Radio Network and The Radio Network joint adventure.

A number of structural changes occurred in 2013:

The appointment of Michael Miller as CEO and two new board members Anne Templeman-Jones and Peter Cillinane

Radio is a key strategy asset for APN with increasing fiscal improvements 

Short term focus on capital growth and reducing debt

Dividends increased by 10% ; did not pay final dividends in 2013

Improved profitability due to strong performance by the radio business and record results for Adshel

APN is optimistic about the future