Slide 1: GTN Limited FY2016 Results Presentation
For personal use only GTN Limited FY2016 Results Presentation 31 August 2016
Slide 2: Disclaimer and important information
Disclaimer and important information For personal use only 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. I
Slide 3: Today's presenters
Today’s presenters For personal use only Bill Yde (CEO and founder) Scott Cody (CFO and COO) 2
Slide 4: Overview
For personal use only Section Overview 01
Slide 5: Key Highlights
Key Highlights For personal use only GTN’s FY2016 results exceeded Prospectus forecast Key Highlights Pro forma results(1) Pro forma Pro forma vs. Pro vs. IPO successfully completed without significant disruption to normal $m FY16 FY16 forma Prospectus operations Actual Prospectus FY2015 Revenue 1
Slide 6: Group financial performance
For personal use only Section 02 Group financial performance
Slide 7: Key revenue drivers
Key revenue drivers For personal use only GTN group revenue exceeded FY16 Prospectus forecast by $2.0m ( +1.2%) and was up 8.2% year on year GTN revenue profile Commentary 200 Revenue growth led by Australia and Canada, both of which exceeded FY16 Prospectus forecast by 4% 177.4 180 — United Kingd
Slide 8: Key earnings drivers
Key earnings drivers For personal use only GTN group Pro forma Adjusted EBITDA exceeded FY16 Prospectus forecast by $2.3m (+7.1%). FY16 Pro forma NPATA was $18.8m, exceeding Prospectus forecast by ~$3.0m (+18.7%) GTN Pro Forma Adjusted EBITDA profile Commentary 50 45.6 50% (2) Main driver of out-p
Slide 9: Strong liquidity position
Strong liquidity position For personal use only Strong liquidity position with cash of $49.1 million, overall net debt of $50.9m Historical balance sheet (30 June 2016) Summary Pro forma cash flow Current assets ($000’s) Cash and cash equivalents 49,063 $m FY16 FY16 Trade and other receivables 33,62
Slide 10: Financial performance by operating segment
For personal use only Section 03 Financial performance by operating segment
Slide 11: Australia (ATN)
Australia (ATN) For personal use only Australia continues to show strong growth. Higher than expected 7.6% YoY growth in revenue driven by higher than expected sell-out rate and spots inventory Revenue profile Commentary 120 20% Australia continues to generate above market revenue growth 100 89.8
Slide 12: Canada (CTN)
Canada (CTN) For personal use only CTN continues to develop its affiliate network. Higher than expected revenue and Adjusted EBITDA driven by spots inventory and average spot rate Revenue profile Commentary 30 25% Solidification of affiliate line-up over FY15 has led to a highly desirable 26.0 23.
Slide 13: United Kingdom (UKTN)
United Kingdom (UKTN) For personal use only UK operations experienced no material impact on demand following Brexit. Prospectus forecast was met in local currency but was impacted unfavourably by the lower GBP Revenue profile Commentary 60 50% 47.5 51.0 UK continues to be a solid contributor of EB
Slide 14: Brazil (BTN)
Brazil (BTN) For personal use only Brazilian operations still focused on building a strong network to strengthen the product offering for BTN’s advertising clients Revenue profile Commentary 10 296.5% 115.5% 8.6 100% Brazil revenue negatively impacted by the weakening of the Brazilian 8 65.5% 80%
Slide 15: Update on growth strategy and outlook
For personal use only Section 04 Update on growth strategy and outlook
Slide 16: GTN growth strategy
GTN growth strategy For personal use only GTN continues to pursue a number of channels to drive both organic and inorganic growth Key milestones CTN has added Rogers Calgary to station line-up effective July 2016 —Takes Calgary market audience penetration from 85% to 95% —Not included in FY17 Pros
Slide 17: Outlook for FY17
Outlook for FY17 For personal use only GTN affirms the FY17 forecast provided in the IPO Prospectus and will continue to pursue growth across its operating geographies GTN affirms the FY17 forecast as per its IPO Prospectus assuming the continuation of current market conditions, including no furth
Slide 18: Appendix A: Reconciliation of financial information
For personal use only Appendix A Reconciliation of financial information
Slide 19: Annual Pro Forma and Statutory Income Statement FY2013-FY2017F
Annual Pro Forma and Statutory Income Statement FY2013-FY2017F For personal use only Pro Forma Historical Results for FY2013 – FY2017 Pro Forma Historical Results Pro Forma Result Statutory Result A#039;000s FY2013 FY2014 FY2015 FY2016A FY2016F FY2017F FY2016A FY2016F FY2017F Revenues 125,004 138,049 1
Slide 20: Reconciliation of pro forma to statutory results
Reconciliation of pro forma to statutory results For personal use only Pro forma adjustments to the Actual Historical Results and Statutory Forecast Results A#039;000s FY2013 FY2014 FY2015 FY2016A FY2016F FY2017F Statutory NPAT (19,606) (1,464) (18,169) (17,234) (23,859) 21,119 1 Pro forma impact of hi
Slide 21: Annual cash flow statement
Annual cash flow statement For personal use only Cash Flows for FY2013 – FY2017 Pro forma Historical Cash Flows Pro Forma Cash Flows Statutory Cash Flows A#039;000s FY2013 FY2014 FY2015 FY2016A FY2016F FY2017F FY2016A FY2016F FY2017F Adjusted EBITDA 17,563 24,467 28,598 34,646 32,342 45,644 15,611 9,66
Slide 22: Reconciliation of statutory to pro forma cash flows
Reconciliation of statutory to pro forma cash flows For personal use only Pro forma adjustments to the Actual Historical Cash Flows and Statutory Forecast Cash Flows A#039;000s FY2013 FY2014 FY2015 FY2016A FY2016F FY2017F Net free cash flow before financing, tax and dividends 20,358 20,958 26,195 (84,2
Slide 23: Impact of SCA Affiliate Contract
Impact of SCA Affiliate Contract For personal use only FY16 only includes five months of impact of SCA contract. Full year impact of the contract would add an additional $5.9m to Adjusted EBITDA, equating to $40.5m Southern Cross Austereo Pro Forma Adjusted EBITDA Bridge Commentary Pro forma adjus