Gtn Ltd. · ASX:GTN

Gtn — FY2018 Earnings Presentation

21 slides from Gtn's earnings presentation, Aug 30, 2018

  1. Slide 1: FY18 Results Presentation

    For personal use only GTN Limited FY18 Results Presentation 30 August 2018

  2. Slide 2: Today's presenters

    Today’s presenters For personal use only Bill Yde (CEO and founder) Scott Cody (CFO and COO) 1

  3. Slide 3: Contents

    For personal use only Contents 01 Overview 3 02 Group financial performance 6 03 Financial performance by operating segment 10 04 Update on growth strategy 15 A Additional financial information 18

  4. Slide 4: Overview

    For personal use only Section Overview

  5. Slide 5: Key Highlights

    Key Highlights For personal use only GTN’s FY2018 results showed strong Adjusted EBITDA on 4.4% revenue increase from continuing operations Key Highlights  FY18 results from continuing operations — Adjusted EBITDA of $48.1 million (-1% on FY17) A$m(3) FY18(1) FY17(1) % Difference — NPATA of $29.2 m

  6. Slide 6: GTN's global advertising platform

    GTN’s global advertising platform For personal use only GTN’s global advertising platform is a combination of established, market leading businesses and large new market opportunities ATN CTN UKTN BTN FY 2017 Revenue A$m 98.7 28.0 40.9 9.7 FY 2018 Revenue A$m 100.8 29.8 42.2 12.2 FY 2018 vs FY 2017

  7. Slide 7: Group financial performance

    For personal use only Section Group financial performance

  8. Slide 8: Key revenue drivers

    Key revenue drivers For personal use only GTN group revenue from continuing operations grew by +4.4% on FY17 GTN revenue profile Commentary  Revenue result driven by growth across all four of GTN’s markets. 200 Revenue from continuing operations — United Kingdom (0.2)% in GBP but grew in AUD due to

  9. Slide 9: Key earnings drivers

    Key earnings drivers For personal use only GTN group Adjusted EBITDA $48.1m (-1.5% on FY17) NPATA $29.2m, (-10.2% on FY17 primarily due to higher tax expense) GTN Adjusted EBITDA profile (1) Commentary 60 50%  Higher station compensation compared to FY17 negatively impacted Adjusted EBITDA 48.9 Adj

  10. Slide 10: Strong liquidity position

    Strong liquidity position For personal use only Net debt (debt less cash balances) of $7.8 million. Total Gearing to Adjusted EBITDA of 0.16x Historical balance sheet (30 June 2018) Summary cash flow (1) 2018 2017 FY18 FY17 Current Assets $’000 $’000 $Am Cash and cash equivalents 52,232 100,727 Trad

  11. Slide 11: Financial performance by operating segment

    For personal use only Section Financial performance by operating segment

  12. Slide 12: Australia (ATN)

    Australia (ATN) For personal use only Australia revenue continues to grow after 20+ years in operation Revenue profile Commentary 120 20%  Australia continues to generate revenue growth 98.7 100.8 100 89.8 — Primarily driven by growing spots inventory 83.5 15% 78.3 73.4 YoY growth (%) — Lower sell-

  13. Slide 13: Canada (CTN)

    Canada (CTN) For personal use only Revenue grew 6.5% (4.9% in CAD) exceeding the Canadian radio market performance for the year Revenue profile 29.8 25% Commentary 30 28.0  Canada posted solid 6.5% revenue increase 23.6 18.7% 20% 21.2 — Continue to grow spot inventory 19.7 19.7 YoY growth (%) Reven

  14. Slide 14: United Kingdom (UKTN)

    United Kingdom (UKTN) For personal use only UK performance suffered due to flat revenue growth in GBP combined with higher station compensation Revenue profile Commentary 60 50%  UKTN continues to be a good contributor to group EBITDA and cash 47.5 50 43.5 42.2 40%  Revenue +3.3% due to favourable

  15. Slide 15: Brazil (BTN)

    Brazil (BTN) For personal use only Brazil continues to be the Group’s fastest growing segment with revenue increase of 26% in FY2018 Revenue profile Commentary 12.2 160%  26% increase in revenue led to 43% increase in EBITDA for FY2018 14 140% 12 9.7 — Continue to reinvest revenue growth into Brazi

  16. Slide 16: Update on growth strategy

    For personal use only Section Update on growth strategy

  17. Slide 17: GTN growth strategy

    GTN growth strategy For personal use only Management is focused on capitalising on the strong growth outlook for Brazil and Canada  Australia — Focus on continuing to grow revenue by continually educating advertisers as to the value of GTN’s broad reach and effectiveness Brazil — Local management c

  18. Slide 18: Dividend Policy

    Dividend Policy For personal use only Board expects to alter dividend policy to continue to reduce debt outstanding, maximize franking of dividends while still maintaining a high pay-out ratio of NPAT.  Current target policy has been to pay a dividend equal to 100% of NPAT —Interim dividend (except

  19. Slide 19: Additional financial information

    For personal use only Appendix Additional financial information

  20. Slide 20: Reconciliation of Non-IFRS Disclosures

    Reconciliation of Non-IFRS Disclosures For personal use only (A$m) FY2018 FY2017 Reconciliation of EBITDA and Adjusted EBITDA to Profit before income tax from continuing operations Profit before income tax from 34.2 34.6 continuing operations Depreciation and amortization (9.5) (9.3) Finance costs (

  21. Slide 21: 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

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