Slide 1: GTN Limited FY23 Results Presentation
GTN Limited FY23 Results Presentation 29 August 2023
Slide 2: Today's Presenter
Today’s Presenter Scott Cody (CFO and COO) 1
Slide 3: Contents
Contents 01 Overview 3 02 Group financial performance 6 03 Financial performance by operating segment 9 04 Update on operating strategy and capital management 14 05 Update on trading 19 A Additional financial information 21
Slide 4: Section 01
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Slide 5: Overview
Overview GTN’s FY23 Adjusted EBITDA increased 13% compared to FY22 due to an 11% increase in Group revenue Key Highlights A$m(4) FY23 FY22 % Difference FY23 revenue increased 11% compared to FY22 • Revenue increased in all of Group’s markets except the United Kingdom • Second consecutive year of d
Slide 6: GTN's global advertising platform
GTN’s global advertising platform GTN’s global advertising platform is a combination of established, market leading businesses and large newer market opportunities ATN CTN UKTN BTN FY2023 Revenue A$m 88.6 34.2 42.4 11.9 FY2022 Revenue A$m 78.1 26.8 46.0 9.2 FY23 vs FY22 13.4% 27.6% (8.0)% 29.8% Numb
Slide 7: Group financial performance
Section 02 Group financial performance
Slide 8: Key Drivers of Financial Performance
Key Drivers of Financial Performance Revenue increased 11% whilst Adjusted EBITDA increased 13% to $19.3m Commentary GTN Group Revenue • Revenue increased 11% compared to FY22 GTN +10.6% • Revenue increase driven by strong performance in Australia, Brazil and Canada • United Kingdom revenue decrease
Slide 9: Strong Liquidity Position
Strong Liquidity Position Net cash (cash less debt balances) of $3.4 million Historical balance sheet 30 June 2023 30 June 2022 Summary cash flow Current Assets $’000 $’000 Cash and cash equivalents 30,606 34,844 FY23 FY22 $Am Trade and other receivables 41,194 37,751 Current tax assets 4,385 4,086
Slide 10: Financial performance by operating segment
Section 03 Financial performance by operating segment
Slide 11: ATN
ATN ATN delivered a second consecutive year of double-digit growth, increasing revenue 13% in FY 2023 ATN revenue performance Commentary +13.4% • ATN revenue increased by 13.4% for the second consecutive year of double-digit growth • FY22 revenue increased 14.0% over FY21 88.6 • FY23 revenue growth
Slide 12: BTN
BTN BTN posted a robust 30% increase in revenue - The largest AUD increase of the Group (+19% in local currency) BTN revenue performance (AUD) BTN revenue performance (BRL) +29.8% +18.8% 11.9 41.3 9.2 34.8 FY22 FY23 FY22 FY23 BTN KPIs Commentary FY23 FY22 % chg • BTN revenue increased significantly
Slide 13: CTN
CTN CTN achieved outstanding revenue growth, increasing 28% in AUD and 25% in local currency compared to FY22 CTN revenue performance (AUD) CTN revenue performance (CAD) +27.6% +25.2% 34.2 30.8 26.8 24.6 FY22 FY23 FY22 FY23 CTN KPIs Commentary FY23 FY22 % chg • CTN revenue increased strongly in both
Slide 14: UKTN
UKTN UKTN revenue decreased in both AUD and local currency compared to FY22, the highest revenue year ever achieved in GBP UKTN revenue performance (AUD) UKTN revenue performance (GBP) (8.0)% (5.6)% 46.0 25.1 42.4 23.7 FY22 FY23 FY22 FY23 UKTN KPIs Commentary • UKTN revenue decreased in both local c
Slide 15: Update on operating strategy and capital management
Section 04 Update on operating strategy and capital management
Slide 16: GTN Operating Strategy
GTN Operating Strategy Management continues to focus on maintaining business infrastructure, maximising revenue and effectively managing operating expenses while exploring growth opportunities Maintain affiliate networks • We believe that a continued focus on strong products is key to maximizing r
Slide 17: GTN Operating Strategy (continued)
GTN Operating Strategy (continued) New business opportunity - Aerial drone light shows via Global Drone Network Commenced operating aerial drone light shows during 2H FY22 • Drone light shows involve the operation of many drones simultaneously to create images that are viewed by audiences in a man
Slide 18: GTN Aerial Drone Lightshow
GTN Aerial Drone Lightshow Recent Shows https://globaldronenetwork.com/ Tennis Canada VIVID Sydney Versace Australian Open 17
Slide 19: Capital Management
Capital Management Company intends to return capital to shareholders in form of dividends and share buybacks while maintaining low leverage At 30 June 2023, GTN held cash balances of $30.6m with net cash after debt of $3.4M Debt facility extended to 22 December 2025 • Distributions of 100% of NP
Slide 20: Update on trading
Section 05 Update on trading
Slide 21: GTN Trading Update – July & August 2023
GTN Trading Update – July & August 2023 Revenue for July and August this fiscal year is largely in line with the same period in FY23 July/August 2023 revenue largely in line with July/August 2022 • Brazil and Canada revenue continued strong momentum with significant increases versus previous year
Slide 22: Appendix A: Additional financial information
Appendix A Additional financial information
Slide 23: Reconciliation of non-IFRS measurements back to IFRS
Reconciliation of non-IFRS measurements back to IFRS EBITDA, Adjusted EBITDA & NPATA Reconciliation of EBITDA, Adjusted EBITDA and Normalized Adjusted EBITDA to Profit before income tax ($m) (1) FY2023 FY2022 Profit before income tax 5.5 5.2 Depreciation and amortisation 12.3 10.6 Finance costs 1.8
Slide 24: Disclaimer and important information
Disclaimer and important information The information contained in this document is general background information about GTN Limited (ACN 606 841 801) (the “Company”) and its activities as at the date of this document. It is in summary form and does not purport to be complete. It should be read in co