29/08/2024 09:41

Nine Entertainment Co Holdings Ltd (NEC) $1.35

NEC shares edged up +0.75% on Wednesday after they reported a ~20% decline in profits courtesy of weakness in advertising, however, there were some green shoots coming through this result as they progressively move towards a digital platform business relative to an older style media business;

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08/05/2024 16:46

Nine Entertainment (NEC) $1.52

NEC +1.33%: the media group presented at the Macquarie Conference today, providing a quarterly update alongside the presentation which was broadly better than feared. The Metro Free To Air (FTA) market has been contracting for several quarters with another 13% fall in Q3, though this was better than the ‘mid-teens decline’ guided by Nine at the half-year update and the company continues to win market share.

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02/05/2024 09:38

Nine Entertainment Co (NEC) $1.475

NEC posted a strong 1H in February, but its marginally disappointing outlook has continued to weigh on the stock over recent months. Once the market puts you in a naughty corner, it's hard to escape! We purchased the stock in late 2022, and while its dividend yield of around 6%, fully franked, has enabled us to be patient towards this turnaround story, it has been a frustrating journey so far.

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22/02/2024 17:15

Nine Entertainment (NEC) $1.68

NEC -8.70%: the media group posted strong 1H numbers today, however, a marginally disappointing outlook weighed on shares. Revenue was a slight beat, however EBITDA was ~4% ahead of expectations at $316m vs $302m. TV, including 9Now, met expectations, Radio was a small miss made up by a small beat in publishing

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14/02/2024 09:14

Seven West Media (SWM) $0.245

The media group reported 1H numbers yesterday that were weaker than expected, dragging down the sector including Nine Entertainment (NEC) which we hold in the Emerging Companies Portfolio. The sector has been facing headwinds from a falling free-to-air (FTA) ad market, though SWM also saw a slight drop in market share in the period. Total revenue for the half was $775m, down 5%, but earnings (EBITDA) dropped 40% for the half and missed expectations by around 3%.

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24/08/2023 17:07

Nine Entertainment (NEC) $2.04

NEC +0.49%: FY23 results showed the headwinds being faced by traditional media sources, however, the numbers weren’t as bad as feared. Revenue was largely in line while EBITDA fell 16% to $591.2m, a small miss to expectations.

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19/07/2023 09:19

Nine Entertainment (NEC) $2.07

Monthly media data for June was released this week, showing a continuation of the decline in ad spending, largely across the board. TV ad bookings fell -15.7% yoy in the month which compares to Nine’s guidance for around a 15% decline at an update in May.

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06/06/2023 09:35

Nine Entertainment Co (NEC) $1.975

At the recent Macquarie Conference NEC provided earnings guidance for the first time which fell short of expectations but the stock remains anchored to the $2 area i.e. there’s plenty of bad news built into the share price.

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03/05/2023 16:49

Nine Entertainment (NEC) $2.03

NEC flat: one of many to present at the Macquarie Conference today, providing EBITDA guidance for the first time which fell short of expectations. The company said the advertising market declined 15% in the 3rd quarter, but they managed to pick up more than 2.5% in market share.

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23/02/2023 16:50

Nine Entertainment (NEC) $2.00

NEC -2.91%: the media group struggled today despite a decent 1H, weighed on by non-committal guidance at the result. Revenue of $1.4b was in line with consensus, as was NPAT at $189.5m with the result driven by market share gains in free-to-air and a beat by streaming platform Stan while radio was in line and 9Now missed slightly.

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