ARN Media H1 2026 slides: cost cuts offset radio revenue decline

ARN Media's first-half fiscal 2026 results showed a 14% decline in revenue to AUD $127.9 million, with shares falling 3.7% to $0.26. Despite revenue challenges, the company reported stable financials through aggressive cost management, with cumulative savings of $42.5 million since fiscal 2024. Management emphasized a strategic shift toward digital platforms, noting digital revenue grew 1% to $13.7 million, now making up 11% of total revenue.

EBITDA remained resilient at $18.2 million, with digital EBITDA surging 55% to $2.1 million. Cash flow generation strengthened at $18.6 million, and net debt fell to $49.4 million. The company's digital strategy, centered on the iHeart platform, aims to capture a larger share of the digital video market while addressing a 6.4 percentage point gap between its audience share and revenue share in metropolitan markets.