Seven West Media （SWM.AX） FY24 First Take： Soft result and outlook； Sept/Oct booking trends below； Buy~back not renewed； Sell

14 August 2024 | 8:39AM AEST Seven West Media (SWM.AX): FY24 First Take: Soft result and outlook; Sept/Oct booking trends below; Buy-back not renewed; Sell Key points: SWM reported FY24 Sales/EBITDA/NPAT -5%/-33%/-47% vs. pcp to A $1,415mn/A$ 187mn/A $78mn, which was +1%/-3%/-8% vs. GSe (EBITDA -4% vs. Visible Alpha Consensus Data). Cash conversion remains weak (GOCF of A$ 77mn, = 41% of EBITDA) (1H24 GOCF of A$89.7mn, = 72% of EBITDA) impacted by the ARN acquisition, while Net Debt to EBITDA increased to 1.6x ...