SEG Posts $9.7m EBITDA, Declares 4cps Dividends After Wildcats Sale
Sports Entertainment Group reports a robust first half FY26 with nearly doubling EBITDA and declares special dividends following asset sales.
- 94% increase in underlying EBITDA to $9.7 million
- 28% revenue growth to $73.7 million driven by media and complementary services
- Declared fully franked interim and special dividends totaling 4 cents per share
- Upgraded FY26 EBITDA growth guidance to at least 40%
- Strong cash position with $15.3 million net cash and $12 million received from Perth Wildcats sale
Strong Half-Year Performance
Sports Entertainment Group Limited (SEG) has delivered a standout first half for FY26, posting a 94% surge in underlying EBITDA to $9.7 million on the back of a 28% increase in group revenue to $73.7 million. This performance reflects broad-based growth across its media and complementary services segments, underscoring the strength of SEG’s diversified sports entertainment portfolio.
The media segment benefited from high-profile live sports events including the AFL and NRL finals, as well as cricket’s Ashes series, contributing to an 11% revenue uplift. Meanwhile, complementary services such as TV production and events saw significant expansion, with TV production revenue climbing 61% and events revenue up 32%, both delivering meaningful EBITDA contributions.
Strategic Expansion and Capital Management
SEG’s strategic initiatives continue to bear fruit. The acquisition and integration of RSN in the racing vertical have enabled the company to refresh programming and expand regional reach, notably with the launch of SEN Goulburn Valley and new broadcasting agreements in Western Australia. In TV production, SEG has ramped up capacity with new flagship programs for Channel 7 and additional production infrastructure, including a second studio and a 4K production truck to support live sports coverage.
On the capital front, SEG remains disciplined and shareholder-focused. The company declared a fully franked interim dividend of 1.0 cent per share alongside a special dividend of 3.0 cents per share following the completion of the Perth Wildcats sale, returning $11.2 million to shareholders. Despite these payouts, SEG maintains a net cash positive position of $9 million and has reduced senior bank debt to $11.4 million, reflecting strong cash flow management.
Upgraded Outlook
Buoyed by the strong first half and ongoing momentum, SEG has upgraded its EBITDA growth guidance for FY26 to at least 40%, a significant increase from the previous 20% target. This optimism is underpinned by expected continued revenue growth in the coming quarters and the company’s commitment to reinvesting in high-return areas and pursuing accretive acquisitions.
SEG’s results and strategic moves highlight its positioning as a leading player in Australia’s sports media and entertainment landscape, leveraging live sports’ enduring appeal and regional engagement to drive growth.
Bottom Line?
SEG’s robust half-year results and upgraded guidance set the stage for a dynamic FY26, but sustaining momentum will be key.
Questions in the middle?
- How will SEG balance reinvestment and dividend payouts amid evolving market conditions?
- What impact will expanded regional racing broadcasts have on long-term revenue growth?
- Can SEG maintain margin expansion as it scales TV production and live event coverage?
