Efficiency - following the outbreak of COVID-19 we moved quickly to reduce our cost base and protect Swift against a protracted downturn.Capability - we strengthened our senior team with a new Sydney based CFO, Geoff Greenberg, a new Chief Customer and Strategy Officer, Kirsty Davison, and two new highly capable and committed independent non-executive directors, Katherine Ostin and Peter Gibbons.This is a proprietary, fit for purpose communications and entertainment system developed and built in house based on customer input, and launched on time and on budget New customer focussed products - launching Swift Plus specifically to target the Aged Care vertical. Strategic focus - reducing the number of verticals in which we operate from 11 to 3.Highlights of the year worth calling out include: These results were lower than we had forecasted due to the impact of COVID-19 and reflect a year in which many changes were made to streamline and simplify the business. The business generated an underlying EBITDA 1 loss of $1.3 million after adjusting for one-off costs. Your board and management team have worked incredibly hard and temporarily taken substantial pay cuts to reduce business costs following the impact of COVID-19 and I would like to acknowledge their dedication and commitment up front.įY20 revenues were $23.1 million representing a 9% increase over the prior comparable period after adjusting for one-off items. The business is far better run, has a clearer go to market strategy and is closer to fulfilling its potential than ever before. To simplify the business and to build a stronger and more streamlined Swift. I am pleased to present the 2020 Annual Report for Swift Media Limited (ASX: SW1), my second since becoming the Chairman in June 2019.ĭespite numerous challenges and difficult market conditions, your Leadership Team has continued to make progress in delivering on the strategy Partnership with XTD and Inside Practice to drive national advertising growth.Following strategic review, the Health & Wellbeing network has been significantly restructured to reduced costs.Health & Wellbeing content designed to inform, educate, and entertain patients at the point of care.Communications tool to help meet Standards.Family mobile application to stay connected with loved onesĪustralia's leading DOOH health & wellbeing network in contextually relevant, captive audience environments.In-roomaccess to premium entertainment curated specifically for Aged Care.Aged Care specific relaxation and exercise content to improve quality of life, reduce isolation and support those living with dementia.Time saving, facility managed communications, noticeboard and live streaming system delivered via TV.Making life better by helping residents and their carers engage, communicate and belong. Movies, TV on Demand, Sport (Foxtel partnership) o Indigenous, mental health and wellbeing content o Remote and onsite technical support.Site managed communications system delivered via TV and smart device applications.Design and construction of networking infrastructure in remote locations.Swift is a specialist technology company that provides entertainment and communication solutions to connect and engage communitiesĭelivering secure closed networks with customised communications and content.
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