Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
Page 21
Page 22
Page 23
Page 24
Page 25
Page 26
Page 27
Page 28
Page 29
Page 30
Page 31
Page 32
Page 33
Page 34
Page 35
Page 36
Page 37
Page 38
Page 39
Page 40
Page 41
Page 42
Page 43
Page 44
Page 45
Page 46
Page 47
Page 48
Page 49
Page 50
Page 51
Page 52
Page 53
Page 54
Page 55
Page 56
Page 57
Page 58
Page 59
Page 60
Page 61
Page 62
Page 63
Page 64
Page 65
Page 66
Page 67
Page 68
Page 69
Page 70
Page 71
Page 72
Page 73
Page 74
Page 75
Page 76
2. Segment Information The Group has adopted AASB 8 Operating Segments with effect from 1 July 2009. AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Group that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segments and to assess their performance. Management has determined operating segments based on the information reported to the Group CEO and the Company Board of Directors. Management has determined that the Group has two operating segments being the Regional free to air commercial radio and television broadcasting segment and the Metro free to air radio broadcasting segment. Metro Regional Corporate Consolidated 2015 000 2014 000 2015 000 2014 000 2015 000 2014 000 2015 000 2014 000 Segment Revenue 224147 248702 361553 363104 25420 29028 611120 640834 EBITDASegment Result 57788 73221 114723 112563 9249 2053 163262 187837 Significant items included in EBITDA1 8132 8132 Statutory EBITDA Segment Result 57788 65089 114723 112563 9249 2053 163262 179705 EBITDA of Revenue 25.8 26.2 31.7 31.0 36.4 7.1 26.7 28.0 Impairment of intangibles and investments 276468 84946 392467 361414 392467 Depreciation and Amortisation 4995 4879 14384 14754 9155 7878 28534 27511 Statutory EBIT Segment Result 223675 60210 15393 294658 18404 5825 226686 240273 Income tax expense 19734 16431 Financing costs 38530 39304 Loss for the year attributable to shareholders 284950 296008 1 In 2014 the Group recognised a provision for an onerous contract in respect of digital radio DAB contracts of 8.1 million 5.7 million after tax. 3. Revenue The profit before income tax from continuing operations included the following specific items of revenue Consolidated 2015 000 2014 000 Revenue from continuing operations Sales revenue 604859 635433 Rental revenue 6261 5401 Total revenue from continuing operations 611120 640834 Recognition and Measurement Revenues are recognised at fair value of the consideration received or receivable net of the amount of GST payable to the relevant taxation authority. Sales revenue Revenue represents revenue earned primarily from the sale of television radio and digital advertising airtime and related activities including sponsorship and promotions. Revenue is recorded when the service is provided being primarily when the advertisement is aired. Commissions payable to media agencies are recognised as selling costs. Other regular sources of operating revenue are derived from commercial production for advertisers including facility sharing revenue and program sharing revenue. Revenue from commercial production is recognised on invoice at the time of completion of the commercial. 45 SOUTHERN CROSS AUSTEREO ANNUAL REPORT 2015