Gtn Ltd. · ASX:GTN
Gtn — H1 2023 Earnings Presentation
24 slides from Gtn's earnings presentation, Feb 24, 2023
Slide 1: 1H FY23 Results Presentation
GTN Limited 1H FY23 Results Presentation 24 February 2023
Slide 2: Today's presenters
Today’s presenters Bill Yde (CEO and founder) 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: Overview
Section 01 Overview
Slide 5: Overview
Overview GTN’s 1H FY23 Adjusted EBITDA increased 18% compared to 1H FY23 due to an 11% increase in Group revenue Key Highlights 1H FY23 revenue increased 11% compared to 1H FY22 • Revenue increased in all the Group’s markets except U.K. A$m(4) 1H FY23 1H FY22 % Difference • Strong revenue increase
Slide 6: GTN's global advertising platform
GTN’s global advertising platform GTN’s global advertising platform is a combination of established, market leading businesses and large newer market opportunities ATN CTN UKTN BTN 1H FY2023 Revenue A$m 45.8 17.7 21.4 5.4 1H FY2022 Revenue A$m 37.9 14.1 24.1 4.9 1H FY23 vs 1H FY22 20.8% 25.8% (11.3)
Slide 7: Group financial performance
Section 02 Group financial performance
Slide 8: Key drivers of financial performance
Key drivers of financial performance Adjusted EBITDA increased 18% to $12.0m due to 11% revenue increase Commentary GTN Group revenue Revenue increased 11% compared to 1H FY22 GTN • Revenue increase driven by strong performance in Canada and Australia +11.4% • Revenue increased in all markets but
Slide 9: Strong liquidity position
Strong liquidity position Net debt (debt less cash balances) of $2.8 million Historical balance sheet Summary cash flow 31 December 2022 30 June 2022 Current Assets $’000 $’000 Cash and cash equivalents 30,756 34,844 1H FY23 1H FY22 Trade and other receivables 41,980 37,751 $Am Current tax assets 6,
Slide 10: Financial performance by operating segment
Section 03 Financial performance by operating segment
Slide 11: ATN
ATN ATN posted strong revenue increase (+21%) for 1H FY 2023 ATN revenue performance Commentary ATN revenue increased by 21% as business continues to rebound from the impact of the COVID-19 pandemic +20.8% Radio spots inventory, average spot rate and number of spots sold all increased compared t
Slide 12: CTN
CTN CTN fastest growing segment in 1H FY23 with revenue increasing 26% in AUD and 22% in local currency compared to 1H FY22 CTN revenue performance (AUD) CTN revenue performance (CAD) +25.8% +21.8% 17.7 15.8 14.1 13.0 1H FY22 1H FY23 1H FY22 1H FY23 Commentary CTN revenue increased strongly in bot
Slide 13: UKTN
UKTN UK revenue decreased for the period primarily due to a weak July/August UKTN revenue performance (AUD) UKTN revenue performance (GBP) (11.3)% (5.8)% 24.1 21.4 12.9 12.2 1H FY22 1H FY23 1H FY22 1H FY23 UKTN Operating Metrics Commentary UKTN revenue decreased 11% compared to 1H FY22 1H FY22 1H
Slide 14: BTN
BTN BTN revenue increased 10% due to significant strengthening of BRL to AUD F/X rates BTN revenue performance (AUD) BTN revenue performance (BRL) +9.6% (2.4)% 5.4 19.4 4.9 18.9 1H FY22 1H FY23 1H FY22 1H FY23 Commentary 1H FY23 revenue increased 10% compared to 1H FY22 BTN Operating Metrics • Inc
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 be focused on maintaining business infrastructure, maximising revenue and effectively managing operating expenses while exploring additional growth opportunities Maintain affiliate networks • We believe that a continued focus on strong products is key
Slide 17: GTN Operating Strategy (continued)
GTN Operating Strategy (continued) New business opportunity - Aerial drone light shows 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 manner similar to traditiona
Slide 18: GTN Aerial Drone Lightshow Recent Shows
GTN Aerial Drone Lightshow Recent Shows https://www.youtube.com/watch?v=lWe_d5rtlUc Chemist Warehouse Versace NRL Grand Final Winners Australian Open 17
Slide 19: Capital Management
Capital Management Company intends to continue to return capital to shareholders in form of dividends and share buybacks while maintaining low leverage At 31 December 2022, GTN held cash balances of $30.8m with net debt after cash of $2.8M Debt facility extended to 22 December 2025 • Distributio
Slide 20: Update on trading
Section 05 Update on trading
Slide 21: GTN Trading Update – January & February 2023
GTN Trading Update – January & February 2023 Revenue for January and February has continued the strong performance seen in 1H FY23 January 2023 revenue increased over 20% compared to January 2022 • Increase led by Canada and Brazil segments • Revenue increased in all four operating regions for the
Slide 22: Additional financial information
Appendix A Additional financial information
Slide 23: Reconciliation of non-IFRS measurements back to IFRS
Reconciliation of non-IFRS measurements back to IFRS EBITDA, Adjusted EBITDA & NPATA Reconciliation of EBITDA and Adjusted EBITDA to Profit before income tax ($m) (1) 1H FY2023 1H FY2022 Profit before income tax 5.4 4.1 Depreciation and amortisation 5.8 5.3 Finance costs 0.8 0.8 Interest on bank dep
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