\u201cSubject to trading conditions in the second half, and assuming no further material deterioration in market conditions, NZME expects full-year 2026 operating ebitda [earnings before interest, taxes, depreciation, and amortisation] to be ahead of the $62.3m reported in 2025,\u201d the company told the NZX.<\/p>\n
For the six months to June 30, operating revenue and other income was $167m, up from $165.7m. The post-tax profit of $6.6m compared with a $400,000 loss in the same period last year.<\/p>\n
Net debt reduced by $13.9m to $19.4m.<\/p>\n
The NZME board declared an interim dividend of 3 cents per share.<\/p>\n
NZME chair Steven Joyce also pointed to future cost savings.<\/p>\n
\u201cNZME remains focused on improving overall operating efficiencies, off its current cost base, while also growing revenue. <\/p>\n
\u201cKey areas include the recently announced print plant investment, which will deliver reductions of $7m in annualised benefits, new initiatives leveraging AI and automation, also of $7m annualised, plus negotiated reductions in the Auckland Central office operating lease costs, which are due to be finalised late in 2026.\u201d <\/p>\n
For the six months to June 30, the company\u2019s advertising revenue grew 2% to $118.6m, which it said was in line with the wider market.<\/p>\n
NZME chair Steven Joyce (top left) and chief executive Michael Boggs.<\/p>\n
\u201cAudio was the standout performer, with operating revenue up 8% to $61.8 m and operating ebitda up 19% to $11.9m, supported by growth across radio and digital audio advertising,\u201d the company said.<\/p>\n
\u201cPublishing operating ebitda was steady at $15.3m, with digital publishing ebitda up 11% to $6.3m and total subscriptions across print and digital now exceeding 250,000.<\/p>\n
\u201cOneRoof digital revenue grew 4%, and the new OneRoof app has lifted monthly app users by 54% since launch.\u201d<\/p>\n
State-owned TVNZ and publicly listed Sky TV are also delivering their latest financial results this week \u2013 an important window on the fortunes of media and the state of the overall economy.<\/p>\n
All three media firms rely heavily on commercial revenue, and their results and outlooks are being watched closely for any hint that marketing budgets are being loosened, which would be an encouraging sign of rising business confidence.<\/p>\n
NZME chief executive Michael\u00a0Boggs. Photo \/ Jason Dorday<\/p>\n
NZME chief executive Michael Boggs told staff in an email: \u201cWe will be continuing to invest for growth as revenue remains at the heart of us improving performance over both the short and longer term.<\/p>\n
\u201cAs you will all know, we are always focused on ways we can reduce our costs, and that will continue to be a focus moving forward. You will have seen and heard examples across the business of where we\u2019ve successfully used technology and automation to help us work smarter and be more efficient, and we\u2019ll continue to look at ways we can do that. <\/p>\n
\u201cWe\u2019ll also be disciplined in managing vacancies across the business \u2013 with careful consideration around each vacant role.\u201d<\/p>\n
Boggs told the NZX that NZME had delivered the stronger first half despite tougher than expected economic conditions. <\/p>\n
\u201cOur core businesses across audio, publishing and OneRoof remained resilient. <\/p>\n
\u201cAudio carried its momentum from the second half of 2025 into the first half of 2026, publishing held earnings while continuing to shift its revenue mix towards digital, and OneRoof continued to grow ebitda despite a subdued property market. <\/p>\n
\u201cWe delivered this result while continuing to invest in the digital products and platforms that will shape NZME\u2019s next decade, including new NZ Herald and OneRoof apps.\u201d <\/p>\n
Today\u2019s result follows a full-year, post-tax profit of $13.1m and operating ebitda of $62.3 million in 2025.<\/p>\n