ARN Media Limited (ARNMF) Q2 2026 Earnings Call Transcript

ARN Media Limited ( ARNMF ) Q2 2026 Earnings Call August 20, 2026 7:00 PM EDT Company Participants Michael Stephenson - Chief Executive Officer Alexis Poole - Chief Financial Officer Fiona Ellis-Jones Conference Call Participants Annie Zhu - Barrenjoey Markets Pty Limited, Research Division Presentation Michael Stephenson Chief Executive Officer Good morning, and welcome to ARN Media's FY '26 First Half Results Presentation. My name is Michael Stephenson. I'm the Chief Executive Officer of ARN Media. And this morning, I'm joined by Alexis Poole, our Chief Financial Officer. Today, we're once again streaming from our North Sydney studios. Today, I'm going to share with you our company highlights and summarize our first half results before handing over to Alexis to walk through the financial results in detail. I'll then take the opportunity to reiterate our vision for the future of our company and provide a trading outlook before opening for questions. There are 3 key things that I'd like you to take away from today's presentation. Firstly, we have stabilized the core business. Secondly, we're on track to deliver $55 million of cost savings by the end of 2027. And finally, our underlying audience performance is strong, but our metro radio revenue share is below our audience share and below our expectations. Our immediate focus is on regaining the revenue share that we have lost over the past 18 months, primarily because of brand safety issues in KIIS breakfast. If we could turn to Slide 5. At our full year results, we said that we will be focused on stabilizing the core radio business and the divestment of noncore assets. I'm pleased to say that in the half, we've done this. We have entered into an agreement to sell Cody Hong Kong to DFI Retail Group. This simplifies our portfolio, provides greater financial flexibility and creates certainty for our shareholders.