I believe 1H will be very similar to 1H of 2022..deviation 5 %..due to Olimpics ...I am talking Ebita level...
But something to watch:
1. whaere they allocate Cash- best pay down debt even more..Net Debt should be under 180mln..
2. Language on Dividends and Share buy back..honeslty they should pay Net Debt under 100mln - given interest rate environment..by June 23 ,we can bring Net Debt under 100mln..assuming buy back will be petty ( max another 30mln shares) ...
3. Guidance for FY 2023
Most importantly what 1H will prove to analysts ,etc..that wheels did not fall off..- and valuation by likes of GS is not justified...
we all can be excited about 2h - June 2023 and Beyond...
1. Goverment legislationand streamers paying us $$ for Aus content or they open for us their library..
2. Diminishing importance of streamers..and tictonic change back to SWM and NEC..
3. Digital explosuion in SWM powered by new content and NBC Universal deal..
4. No debt...and Divi flowing 5 to 7 c fully franked per year..
(20min delay)