Gtn Ltd. · ASX:GTN
Gtn — Shareholder Meeting (November 2023)
23 slides from Gtn's shareholder meeting presentation, Nov 16, 2023
Slide 1: GTN Limited AGM Presentation
GTN Limited AGM Presentation 16 November 2023
Slide 2: Contents
Contents 01 Chair’s Address – Peter Tonagh 4 02 Management Address – Scott Cody 5 03 Formal Business – Peter Tonagh 13 A Reconciliation of Financial Information 20
Slide 3: Today's presenters
Today’s presenters Peter Tonagh (Chair) Scott Cody (CFO & COO) 2
Slide 4: Our Board of Directors
Our Board of Directors Peter Tonagh David Ryan AO Corinna Keller Robert Loewenthal Alexandra Baker (“Alexi”) Chair Director Director Director Director — Experience as a C-suite — Over 40 years of — Former Vice President, — Over 17 years of — Chief Digital and Customer executive in large Australian e
Slide 5: Chair's Address – Peter Tonagh
Section 01 Chair’s Address – Peter Tonagh
Slide 6: Management address – Scott Cody
Section 02 Management address – Scott Cody
Slide 7: FY2023 Recap – Results Overview
FY2023 Recap – Results Overview GTN’s FY23 Adjusted EBITDA (2) 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 • S
Slide 8: FY2023 Recap – Financial Position
FY2023 Recap – Financial Position Strong financial position with 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
Slide 9: FY2023 Recap – KPIs
FY2023 Recap – KPIs GTN continues to maintain a robust inventory of commercial spots which has the potential for significant increase in revenue without acquiring additional inventory GTN operational KPIs (by geographic segment) FY2023 Actual FY2022 Actual vs. FY2022 Australia (ATN) Radio spots inve
Slide 10: Trading update – Revenue performance by segment for 1Q FY24
Trading update – Revenue performance by segment for 1Q FY24 Group revenue increased 5% to $41.2m with all operating regions except Australia exceeding 1Q FY23 Brazil and Canada led the way with a 62% and 16% increase, respectively, compared to the previous year ATN revenue (A$m) CTN revenue (A$m) 19
Slide 11: Trading update – Revenue performance by segment for 1Q FY24 in local currency
Trading update – Revenue performance by segment for 1Q FY24 in local currency Solid performance despite generally difficult market conditions ATN revenue (A$m) CTN revenue (CAD$m) 19.9 18.5 7.2 6.3 1Q FY23 1Q FY24 1Q FY23 1Q FY24 UKTN revenue (GBP£m) BTN revenue (BRL$m) 12.9 8.9 5.7 5.4 1Q FY23 1Q F
Slide 12: Strong financial position
Strong financial position Solid balance sheet and improving performance leaves Company well positioned for future Cash balance at 30 September 2023 of $33.7 million — Net cash of $6.2 million net of leases of $3.5 million — Repurchased an additional ~1% of shares outstanding during 1H FY24 to date
Slide 13: GTN outlook for 1H FY2024
GTN outlook for 1H FY2024 Pacing toward continued revenue growth when compared to 1H FY2023 Revenue improving steadily, increasing 5% in 1Q FY24 compared to 1Q FY23. • Broader radio advertising market in Group’s operating geographies remains challenging To date FY24 revenue momentum continues to
Slide 14: Formal Business – Peter Tonagh
Section 03 Formal Business – Peter Tonagh
Slide 15: Consideration of Reports
Consideration of Reports To receive and consider the Financial Report, the Directors’ Report and the Independent Auditor’s Report of the Company for the financial year ended 30 June 2023. 14
Slide 16: Questions and Comments
Questions and Comments CROSS HCHESHEEHSESEHCEHOHOHOHHSHEOHSHOHEEOHSHHOHOSELEHEHSEHSEOHEHEHHAOELEHHEHOHHOSOHCOSEOLOHOLE
Slide 17: Resolution 1 – Re-election of Director – Peter Tonagh
Resolution 1 – Re-election of Director – Peter Tonagh To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Peter Tonagh, who retires in accordance with clause 10.3(b)(iii) of the Company’s Constitution and being eligible for election, is re-elected as a
Slide 18: Resolution 2 – Election of Director – David Ryan AO
Resolution 2 – Election of Director – David Ryan AO To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That David Ryan, who retires in accordance with clause 10.3(b)(iii) of the Company’s Constitution and being eligible for election, is elected as a Direct
Slide 19: Resolution 3 – Remuneration Report
Resolution 3 – Remuneration Report To consider and, if thought fit, pass the following as a non-binding ordinary resolution of the Company: “That the Company’s Remuneration Report for the financial year ended 30 June 2023, be adopted.” Votes have been received in respect of the resolution as follows
Slide 20: Questions and Comments
Questions and Comments CROSS HCHESHEEHSESEHCEHOHOHOHHSHEOHSHOHEEOHSHHOHOSELEHEHSEHSEOHEHEHHAOELEHHEHOHHOSOHCOSEOLOHOLE
Slide 21: Appendix A – Reconciliation of financial information
Appendix A Reconciliation of financial information
Slide 22: Reconciliation of non-IFRS measurements back to IFRS
Reconciliation of non-IFRS measurements back to IFRS EBITDA, Adjusted EBITDA, Normalized 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
Slide 23: 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