Advisers
Learn
Newsletter
Offers
Podcast
About
  Back
~
1
min read
· Posted on
February 21, 2024

The final siren has sounded on SEN's FY23 financials... and it ain't quite kicking goals

SEN has recorded a $9.2 million after-tax loss for the last financial year.

What's the key learning?

  • On top of the $9.2 million after-tax loss for the last financial year, SEN had to ask for some relief from their bank after breaching some covenants on their loan.
  • SEN rekcons these results don't tell the full story - because while numbers don't lie, they certainly can deceive.
  • SEN reckons that part of the reason for this poor result was major impairments and non-recurring costs.

👉 Background: SEN, which stands for Sports Entertainment Network, launched back in 2004 as a sports radio network. It owns a whole heap of radio broadcast rights, like the AFL, A-League, cricket, rugby league, Socceroos and Spring Racing carnival.

👉 What happened: Now, SEN has recorded a $9.2 million after-tax loss for the last financial year. On top of that, SEN had to ask for some relief from their bank after breaching some covenants on their loan.

👉 What else: But despite the negative press, SEN reckons these results don’t tell the full story.

What's the key learning?

💡While numbers don't lie, they certainly can deceive. And depending on which line item you're looking at, the story can change significantly.

💡Financial reports can be a maze of numbers and terms. For example:

  • Earnings Before Interest and Taxes (EBIT) gives you a snapshot of a company's profitability, but it excludes the costs of capital investment and other financing.
  • Net profit/loss can include one-off items but doesn't necessarily reflect the operations of the business.

💡SEN reckons that part of the reason for this poor result was major impairments and non-recurring costs. And excluding these adjustments, SEN's profit was $4.8 million.

‍

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

Sign Up
A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating
© 2024 Flux Technologies Pty Ltd and Flux Media Pty Ltd
All rights reserved.
Explore
HomeLearnPodcastAboutNewsletterFlux at WorkAdvisers
Offers
Home LoansSavings AccountsBank AccountsShare TradingCar LoansCredit Cards
Support
CareersContact usPrivacy PolicyTerms of Use
Disclaimer: Flux Technologies Pty Ltd (ABN 86 634 507 172) is an authorised representative (Representative No. 1283166) of Mozo Pty Ltd who is the holder of AFSL No. 328141. We also provide general advice on credit products under our own Australian Credit Licence No. 530103. The product information presented does not constitute an offer and we are not recommending or suggesting any particular product. Any product advice presented is of a general nature only, and is not to be taken as any sort of advice as it has not taken into account your personal circumstances, objectives, financial situation or needs. Flux may not cover all products available to you. Check out our Credit Guide and Financial Services Guide for more information.

All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.
No items found.