Gtn Ltd. · ASX:GTN
Gtn — Shareholder Meeting (November 2018)
25 slides from Gtn's shareholder meeting presentation, Nov 8, 2018
Slide 1: GTN Limited AGM Presentation
GTN Limited AGM Presentation November 2018
Slide 2: Contents
Contents 01 Chairman’s Address – Robert Loewenthal 4 02 CEO’s address – Bill Yde 5 03 Formal Business – Robert Loewenthal 15
Slide 3: Today's presenters
Today’s presenters Robert Loewenthal (Chairman) Bill Yde (Managing Director and CEO) 2
Slide 4: Our Board of Directors
Our Board of Directors Robert Loewenthal William Yde III (“Bill”) David Ryan AO Chairman Managing Director and CEO Director — Over 10 years of experience in the radio — Over 34 years of experience in the radio — Over 40 years of experience in industry and media industry commercial banking, investmen
Slide 5: Chairman's Address – Robert Loewenthal
Section 01 Chairman’s Address – Robert Loewenthal
Slide 6: CEO's address – Bill Yde
Section 02 CEO’s address – Bill Yde
Slide 7: FY2018 recap – Financial information – Profit or Loss Statement
FY2018 recap – Financial information – Profit or Loss Statement 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) % Di
Slide 8: FY2018 recap – Financial information – Statement of Financial Position
FY2018 recap – Financial information – Statement of Financial Position Strong liquidity position. 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 $’000
Slide 9: FY2018 recap – KPIs
FY2018 recap – KPIs GTN’s FY18 revenue result was underpinned by positive operating results across key geographies GTN operational KPIs (by geographic segment) FY2018 Actual FY2017 Actual vs. FY2017 Australia (ATN) Radio spots inventory ('000s)(1) 958 866 10.7% Radio sell-out rate (%)(2) 73% 81% (8)
Slide 10: Trading update – Revenue performance by segment through 1Q FY19
Trading update – Revenue performance by segment through 1Q FY19 GTN revenue from continuing operations increased 12.5%. Increase was spread across all markets. ATN revenue (A$m) CTN revenue (A$m) 24.1 7.6 22.2 6.5 YTD Sept 17 YTD Sept 18 YTD Sept 17 YTD Sept 18 UKTN revenue (A$m) BTN revenue (A$m) 1
Slide 11: Trading update – Revenue performance by segment through 1Q FY19 in local currency
Trading update – Revenue performance by segment through 1Q FY19 in local currency GTN revenue from continuing operations increased significantly over 1Q FY18 across all markets in local currency ATN revenue (A$m) CTN revenue (CAD$m) 7.3 24.1 22.2 6.4 YTD Sept 17 YTD Sept 18 YTD Sept 17 YTD Sept 18 U
Slide 12: Revenue & Adjusted EBITDA From Continuing Operations
Revenue & Adjusted EBITDA From Continuing Operations FY 2013 - FY 2018 Revenue Adjusted EBITDA 185,013 177,289 48,856 48,061 166,136 153,484 34,646 138,049 28,598 24,467 125,004 17,563 FY13 (1) FY14 (1) FY15 (1) FY16 (1) FY17 (1) FY18 FY13 (1) FY14 (1) FY15 (1) FY16 (1) FY17 (1) FY18 Notes: (1) Pro
Slide 13: Brazil - Campinas market opened in October 2018
Brazil - Campinas market opened in October 2018 Anticipate opening Brasilia market during FY 2019 8 radio station affiliates in initial network Campinas city population is ~1.1 million — Metropolitan area population ~3.7 million 6th market in Brazil and third new market in last two fiscal year
Slide 14: Canadian division enters into affiliate agreement with three Rogers Media radio stations in Toronto
Canadian division enters into affiliate agreement with three Rogers Media radio stations in Toronto – 98.1 CHFI-FM, 590 the Fan & 680 News CITY-TV/Toronto also included in the agreement Multi-year agreement effective 5 November 2018 Increases CTN reach in Toronto market to 80% (1) —Meaningful in
Slide 15: GTN outlook for 1H FY19
GTN outlook for 1H FY19 Expect to give back much of the 1Q FY19 revenue increase in 2Q FY19 Revenue from continuing operations increased 12.5% in 1Q FY19 compared to 1Q FY18 To date, 2Q FY19 bookings from continuing operations are tracking approximately 6% behind 2Q FY18 bookings at the same dat
Slide 16: Formal Business – Robert Loewenthal
Section 03 Formal Business – Robert Loewenthal
Slide 17: 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 2018. 16
Slide 18: Questions and Comments
Questions and Comments SCHESSHHHEEHEHSHEHHEEHEHHHHHOHEHHSHHEHSHSHHEHHESHEHHHHOHSHSEHHEOHHHHOHEHOHSEHEEOHEOEEE
Slide 19: Resolution 1 – Election of Director – Robert Loewenthal
Resolution 1 – Election of Director – Robert Loewenthal To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Robert Loewenthal, who retires in accordance with clause 10.3b(iv) of the Company’s Constitution and being eligible for election, is re-elected
Slide 20: Resolution 2 – Remuneration Report
Resolution 2 – 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 2018, as set out in the Directors’ Report, is adopted.” Proxies have been received
Slide 21: Resolution 3 – Issue of Options under the GTN Long Term Incentive Plan
Resolution 3 – Issue of Options under the GTN Long Term Incentive Plan – William Yde III To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That for the purposes of ASX Listing Rule 10.14 and for all other purposes, the Company approves the grant of up to
Slide 22: Resolution 4 – Renewal of proportional takeover provisions in the Constitution
Resolution 4 – Renewal of proportional takeover provisions in the Constitution To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That articles 6.8 to 6.12 of the Constitution of the Company , as set forth in Schedule 1 of the Notice of Meeting, are renewe
Slide 23: Appendix A
Appendix A Reconciliation of financial information
Slide 24: Reconciliation of Non-IFRS Disclosures
Reconciliation of Non-IFRS Disclosures (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 (4.8) (5.2) Interest on
Slide 25: 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