Gtn Ltd. · ASX:GTN
Gtn — Shareholder Meeting (November 2016)
27 slides from Gtn's shareholder meeting presentation, Nov 16, 2016
Slide 1: GTN Limited AGM Presentation
GTN Limited AGM Presentation November 2016
Slide 2: Contents
Contents 01 Chairman’s Address – Gary Miles 4 02 CEO’s address – Bill Yde 5 03 Formal Business – Gary Miles 14
Slide 3: Today's presenters
Today’s presenters Gary Miles (Chairman) Bill Yde (Managing Director and CEO) 2
Slide 4: Our Board of Directors
Our Board of Directors Gary Miles William Yde III (“Bill”) Mark Anderson David Ryan AO Robert Loewenthal Chairman Managing Director and CEO Director Director Director — Over 50 years of experience — Over 33 years of experience — Over 15 years of experience — Over 40 years of experience — Over 10 yea
Slide 5: Chairman's Address – Gary Miles
Section 01 Chairman’s Address – Gary Miles
Slide 6: CEO's address – Bill Yde
Section 02 CEO’s address – Bill Yde
Slide 7: FY2016 recap – Financial information
FY2016 recap – Financial information 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 8: FY2016 recap – Revenue drivers
FY2016 recap – Revenue drivers 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 Kingdom exceeded
Slide 9: FY2016 recap - Earnings drivers
FY2016 recap - Earnings drivers 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 ~$3.0m (+18.7%) GTN Pro Forma Adjusted EBITDA profile Commentary 50 45.6 50% (2) Main driver of out-performance
Slide 10: FY2016 recap – KPIs
FY2016 recap – KPIs GTN’s FY16 revenue result was underpinned by positive operating results across key geographies GTN operational KPIs (by geographic segment) FY2016 Actual FY2016 Prospectus vs. FY2015 vs. Prospectus Australia (ATN) Radio spots inventory ('000s)(1) 789 750 7.2% 5.2% Radio sell-out
Slide 11: 1Q17 trading update
1Q17 trading update GTN has performed strongly across all key financial metrics in 1Q17 1Q17 trading update GTN 1Q FY2017 financial performance GTN remains on track to achieve its FY17 Prospectus forecast (excludes 1Q17 FY17F % of FY17F potential Radiate acquisition) Revenue 42.3 177.4 23.8% EBITD
Slide 12: 1Q17 trading update – Revenue performance by segment
1Q17 trading update – Revenue performance by segment GTN achieved YoY revenue increases in each segment except UKTN which was up in local currency but was impacted by adverse FX rates ATN revenue (A$m) CTN revenue (A$m) 22.6 6.7 4.4 19.2 1Q FY2016 1Q FY2017 1Q FY2016 1Q FY2017 UKTN revenue (A$m) BTN
Slide 13: 1Q17 trading update - KPIs
1Q17 trading update - KPIs GTN achieved YoY increases in all KPIs across all segments GTN achieved an increase in spots inventory across all its operating geographies in 1Q FY2017 vs. pcp —Inventory at or in excess of 25% of the forecast inventory for the year Inventory utilisation (percentage o
Slide 14: GTN growth strategy and outlook for FY17
GTN growth strategy and outlook for FY17 GTN continues to pursue a number of channels to drive both organic and inorganic growth and re-affirms its FY17 forecast as per the IPO Prospectus GTN affirms the FY17 forecast as per its IPO Prospectus assuming the continuation of current market conditions
Slide 15: Formal Business – Gary Miles
Section 03 Formal Business – Gary Miles
Slide 16: 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 2016. 15
Slide 17: Questions and Comments
Questions and Comments SCHESSHHHEEHEHSHEHHEEHEHHHHHOHEHHSHHEHSHSHHEHHESHEHHHHOHSHSEHHEOHHHHOHEHOHSEHEEOHEOEEE
Slide 18: Resolution 1 – Election of Director – Gary Miles
Resolution 1 – Election of Director – Gary Miles To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Gary Miles, who retires in accordance with clause 10.3(b) of the Company’s Constitution and being eligible for election, is re-elected as a Director of
Slide 19: Resolution 2 – Election of Director – David Ryan
Resolution 2 – Election of Director – David Ryan 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) of the Company’s Constitution and being eligible for election, is re-elected as a Director of
Slide 20: Resolution 3 – Election of Director – Mark Anderson
Resolution 3– Election of Director – Mark Anderson To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Mark Anderson, who retires in accordance with clause 10.3(b) of the Company’s Constitution and being eligible for election, is re-elected as a Direct
Slide 21: Resolution 4 – Election of Director – Robert Loewenthal
Resolution 4 – 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 10.3(b) of the Company’s Constitution and being eligible for election, is re-elected as
Slide 22: Resolution 5 – Remuneration Report
Resolution 5 – 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 2016, as set out in the Directors’ Report, is adopted.” Proxies have been received
Slide 23: Resolution 6 – Appointment of PricewaterhouseCoopers as Auditor
Resolution 6 – Appointment of PricewaterhouseCoopers as Auditor To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That, in accordance with section 327B(1)(a) of the Corporations Act 2001 (Cth) and for all other purposes, PricewaterhouseCoopers, having bee
Slide 24: Resolution 7 – Approval of GTN US Incentive Plan and termination benefits
Resolution 7 – Approval of GTN US Incentive Plan and termination benefits To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That for the purposes of ASX Listing Rule 7.2 Exception 9(b) and sections 200B and 200E of the Corporations Act and for all other p
Slide 25: Appendix A – Reconciliation of financial information
Appendix A Reconciliation of financial information
Slide 26: Annual Pro Forma and Statutory Income Statement FY2013-FY2017F
Annual Pro Forma and Statutory Income Statement FY2013-FY2017F Pro Forma Historical Results for FY2013 – FY2017 Pro Forma Historical Results Pro Forma Result Statutory Result A$'000s FY2013 FY2014 FY2015 FY2016A FY2016F FY2017F FY2016A FY2016F FY2017F Revenues 125,004 138,049 153,484 166,136 164,142
Slide 27: 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