FAIRFAX ANNUAL REPORT 2005 FAIRFAX ANNUAL REPORT 2005 FAIRFAX Fairfax Report FAIRFAX ANNUAL REPORT 2005 John Fairfax Holdings Limited ABN 15 008 663 161 METROPOLITAN, REGIONAL AND COMMUNITY NEWSPAPERS METROPOLITAN NEWSPAPERS The Sydney Morning Herald, The Sun-Herald, The Age, The Sunday Age, Fairfax Regional Newspapers, Regional New South Wales, The Herald –Newcastle, Illawarra Mercury, Hunter Post, Newcastle/Lake A competitive mix FINANCIAL REVIEW(incl GST) Tuesday 27 July, 2004 12-PAGE LIFT-OFF Price $2.50 NZ $3.00 INTERESTRATES WHERE NEXT EXPORTSBOOM MINING THE WINNER of businesses HOUSINGMARKET CRITICAL TURNING POINT GLOBALGROWTH ASIA THE KEY CONSUMERS ADDICTED TO DEBT STATEBYSTATE TAX WINDFALL DRIES UP ECONOMIC OUTLOOK YOUR GUIDE TO THE YEAR AHEAD Illustration: DAVID ROWE Reliability, flexibility, growth. Ingredients for a successful year ahead. © 2004 Intel Corporation. Intel is trademark or registered trademark of Intel Corporation or its subsidiaries in the United States and other countries. All rights reserved. [S01 SFB 27jul04] Maintaining the market position of newspapers MEETING THE COMPETITIVE Pursuing strategic growth > CHALLENGE Enhancing returns to shareholders Macquarie Post, Central Coast Sun Weekly, Port Stephens Examiner, Wollongong Advertiser, Regional Victoria, The Warrnambool Standard, Fairfax COMMUNITY NEWSPAPERS – NSW The St George & Sutherland Shire Leader, Cooks River Valley Times, Campbelltown-Macarthur Advertiser, Camden Advertiser, Wollondilly Advertiser, Fairfield City Champion, Liverpool City Champion, Bankstown- Canterbury Torch, Blacktown City Sun, Parramatta Sun, Penrith City Star, St Mary’s Mt Druitt Star, Hills News, Northern News, Northern Beaches Weekender, South Western Rural Advertiser, Auburn Review Pictorial, Western Rural Weekly (Bringelly) FAIRFAX COMMUNITY NEWSPAPERS – VICTORIA Melbourne Weekly Magazine, Melbourne Weekly Bayside, Emerald Hill Weekly, City Weekly, The AGAINST A BACKGROUND Melbourne Times, Melbourne Times Northern Edition, Heidelberg Weekly, Knox Journal, Maroondah OF REAL COST SAVINGS AND Journal, Yarra Ranges Journal, The Journal, Berwick & District Journal/Pakenham Journal, Monash Journal, Whitehorse Weekly, Macedon Ranges/Sunbury Telegraph, Werribee Banner, Moreland PRODUCT INNOVATION Community News, Moonee Valley Community News, The Altona Laverton Mail, The Mail, Williamstown FAIRFAX ANNUAL REPORT 2005 FAIRFAX ANNUAL REPORT 2005 FAIRFAX Fairfax Report FAIRFAX ANNUAL REPORT 2005 John Fairfax Holdings Limited ABN 15 008 663 161 METROPOLITAN, REGIONAL AND COMMUNITY NEWSPAPERS METROPOLITAN NEWSPAPERS The Sydney Morning Herald, The Sun-Herald, The Age, The Sunday Age, Fairfax Regional Newspapers, Regional New South Wales, The Herald –Newcastle, Illawarra Mercury, Hunter Post, Newcastle/Lake A competitive mix FINANCIAL REVIEW(incl GST) Tuesday 27 July, 2004 12-PAGE LIFT-OFF Price $2.50 NZ $3.00 INTERESTRATES WHERE NEXT EXPORTSBOOM MINING THE WINNER of businesses HOUSINGMARKET CRITICAL TURNING POINT GLOBALGROWTH ASIA THE KEY CONSUMERS ADDICTED TO DEBT STATEBYSTATE TAX WINDFALL DRIES UP ECONOMIC OUTLOOK YOUR GUIDE TO THE YEAR AHEAD Illustration: DAVID ROWE Reliability, flexibility, growth. Ingredients for a successful year ahead. © 2004 Intel Corporation. Intel is trademark or registered trademark of Intel Corporation or its subsidiaries in the United States and other countries. All rights reserved. [S01 SFB 27jul04] Maintaining the market position of newspapers MEETING THE COMPETITIVE Pursuing strategic growth > CHALLENGE Enhancing returns to shareholders Macquarie Post, Central Coast Sun Weekly, Port Stephens Examiner, Wollongong Advertiser, Regional Victoria, The Warrnambool Standard, Fairfax COMMUNITY NEWSPAPERS – NSW The St George & Sutherland Shire Leader, Cooks River Valley Times, Campbelltown-Macarthur Advertiser, Camden Advertiser, Wollondilly Advertiser, Fairfield City Champion, Liverpool City Champion, Bankstown- Canterbury Torch, Blacktown City Sun, Parramatta Sun, Penrith City Star, St Mary’s Mt Druitt Star, Hills News, Northern News, Northern Beaches Weekender, South Western Rural Advertiser, Auburn Review Pictorial, Western Rural Weekly (Bringelly) FAIRFAX COMMUNITY NEWSPAPERS – VICTORIA Melbourne Weekly Magazine, Melbourne Weekly Bayside, Emerald Hill Weekly, City Weekly, The AGAINST A BACKGROUND Melbourne Times, Melbourne Times Northern Edition, Heidelberg Weekly, Knox Journal, Maroondah OF REAL COST SAVINGS AND Journal, Yarra Ranges Journal, The Journal, Berwick & District Journal/Pakenham Journal, Monash Journal, Whitehorse Weekly, Macedon Ranges/Sunbury Telegraph, Werribee Banner, Moreland PRODUCT INNOVATION Community News, Moonee Valley Community News, The Altona Laverton Mail, The Mail, Williamstown Underlying Trading Performance Revenue 5.9% EBIT 15.6% Profit after tax 23.7% Earnings per share attributable to ordinary shareholders 19.2% > 1 FAIRFAX ANNUAL REPORT 2005 Financial Highlights Roster of Publications Excluding the effects of significant gains, the underlying trading results of the Company were: AUSTRALIAN PUBLICATIONS NEW ZEALAND PUBLICATIONS FAIRFAX METROPOLITAN, Fairfax Community FAIRFAX GENERAL METROPOLITAN The Richmond-Waimea REGIONAL AND COMMUNITY Newspapers – Victoria MAGAZINES NEWSPAPERS Edition NEWSPAPERS Melbourne Weekly Magazine Good Weekend The Dominion Post The Mirror Clutha Leader METROPOLITAN Melbourne Weekly Bayside Television The Christchurch Press Newslink NEWSPAPERS Emerald Hill Weekly Sunday Life Waikato Times Taieri Herald The Sydney Morning Herald City Weekly the(sydney)magazine PROVINCIAL NEWSPAPERS Otago Southland Farmer The Sun-Herald The Melbourne Times theage(melbourne)magazine Earnings per share The Manawatu Standard The Bay Chronicle The Age Melbourne Times Northern Uncorked The Marlborough Express Central Leader Revenue EBIT Profit after tax attributable to ordinary shareholders The Sunday Age Edition Drive The Nelson Mail Auckland City Harbour News Heidelberg Weekly Fashion FAIRFAX REGIONAL Travel + Leisure The Southland Times Eastern Courier increased increased increased increased Knox Journal NEWSPAPERS Taranaki Daily News East & Bays Courier Maroondah Journal FAIRFAX DIGITAL Timaru Herald Manukau Courier Regional New South Wales Yarra Ranges Journal smh.com.au Papakura Courier The Herald – Newcastle The Journal NATIONAL theage.com.au Northern News 5.9% 15.6% 23.7% 19.2% Illawarra Mercury Berwick & District Journal/ rugbyheaven.com Sunday Star-Times North Harbour News 2500 500 300 30 Hunter Post Pakenham Journal realfooty.com.au Sunday News North Shore Times Newcastle/Lake Macquarie Monash Journal monyemanager.com.au Friday Flash, Turf Digest, Norwest Newsbrief Post Whitehorse Weekly 25 tradingroom.com.au Best Bets Western Leader 2000 400 Central Coast Sun Weekly Macedon Ranges/Sunbury mycareer.com.au New Zealand Truth Whangarei Leader Port Stephens Examiner 200 20 Telegraph domain.com.au South Taranaki Star Wollongong Advertiser ONLINE 1500 300 Werribee Banner drive.com.au North Taranaki Midweek Moreland Community News stuff.co.nz 15 Regional Victoria tradingroom.com.au High Country Herald Moonee Valley Community Jobstuff 1000 200 The Warrnambool Standard RSVP.com.au Cambridge Edition News 100 10 COMMUNITY NEWSPAPERS Franklin County News Fairfax Community The Altona Laverton Mail FAIRFAX BUSINESS MEDIA Wellingtonian North Waikato News 500 100 Newspapers – NSW The Mail Hauraki Herald 5 The Australian Financial Hutt News Williamstown Advertiser The St George & Sutherland Review Kapi-Mana News Matamata Chronicle North-West Advocate 00 01 02 03 04 05 00 01 02 03 04 05 00 01 02 03 04 05 00 01 02 03 04 05 Shire Leader The Australian Financial Kapiti Observer East Waikato Country 0 0 0 0 The Advocate Cooks River Valley Times Review – Weekend Edition Horowhenua Mail Rural Delivery Campbelltown-Macarthur Melton Express Telegraph afr.com Upper Hutt Leader Piako Post Revenue increased EBIT increased Profit after tax increased Earnings per share attributable to Advertiser Bacchus Marsh Express AFR Magazine Wairarapa News Rotorua Review 5.9% to $1,876.3 million 15.6% to $425.8 million 23.7% to $234.1 million ordinary shareholders increased Camden Advertiser Telegraph AFR Smart Investor Christchurch Mail South Waikato News 19.2% to 25.47cents Wollondilly Advertiser Whittlesea Weekly AFR Sophisticated Traveller The Northern Outlook Ruapehu Press Fairfield City Champion Valley Weekly Asset Central Canterbury News Taupo Times Liverpool City Champion Manningham Weekly BOSS Central Districts Farmer FAIRFAX MAGAZINES Bankstown-Canterbury Torch Peninsular Journal Business Review Weekly Feilding Herald ANNUAL Autocar Blacktown City Sun Weekender CFO Australia Rangitikei Mail Cuisine GENERAL MEETING Parramatta Sun Hume Weekly (Inc. MIS Australia The Tribune inside New Zealand Gardener Penrith City Star Broadmeadows/Tullamarine MIS NZ Kaikoura Star 10.30am, Friday NZ House & Garden St Marys Mt Druitt Star edition) MIS Asia Motueka Golden Bay News 18 November 2005, Chairman’s The Board Financial Corporate Directory TV Guide Hills News Colac & Corangamite Extra MIS UK The Nelson Leader Four Seasons Hotel Report of Directors Directory Governance Northern News Boating New Zealand 199 George Street, Sydney 04 12 26 42 111 Northern Beaches New Zealand Fishing News Weekender Fish & Game New Zealand Principal photography for the FINANCIAL REVIEW New Zealand Growing Today South Western Rural WEEKEND 9-10 OCTOBER, 2004 DON’S PARTY REVISITED 5 IT’S MY PARTY 28 PARTY FUN & GAMES 40 annual report by Virginia Star, Price $2.50 (inc. GST)