Gtn Ltd. · ASX:GTN
Gtn — Shareholder Meeting (November 2020)
27 slides from Gtn's shareholder meeting presentation, Nov 12, 2020
Slide 1: GTN Limited AGM Presentation
GTN Limited AGM Presentation November 2020
Slide 2: Contents
Contents 01 Chairman’s Address – Robert Loewenthal 4 02 CEO’s address – Bill Yde 5 03 Formal Business – Robert Loewenthal 14
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 Corinna Keller Peter Tonagh Chairman Managing Director and CEO Director Director Director — Over 15 years of — Over 35 years of — Over 40 years of — Vice President, Advertising — Experience as a C-suite experience in the
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: FY2020 recap – Results Overview
FY2020 recap – Results Overview GTN’s FY20 revenue decreased 13% compared to FY19 due to the COVID-19 pandemic which had significant impact on profitability due to the Group’s fixed cost structure Key Highlights ⚫ FY20 revenue decreased across all markets due to COVID-19 pandemic — Revenue through 3
Slide 8: FY2020 recap – Financial Position
FY2020 recap – Financial Position Net debt (debt less cash balances) of $7.4 million. Total Gearing to Adjusted EBITDA of 0.52x. Historical balance sheet Summary cash flow 30 June 2020 30 June 2019 Current Assets $’000 $’000 Cash and cash equivalents 57,040 50,728 Trade and other receivables 19,910
Slide 9: FY2020 recap – KPIs
FY2020 recap – KPIs GTN’s FY20 revenue result was underpinned by continued solid inventory acquisition across its four operating geographies with sell-out rate and spot rate being adversely impacted by the COVID-19 pandemic. GTN operational KPIs (by geographic segment) FY2020 Actual FY2019 Actual vs
Slide 10: Trading update – Revenue performance by segment through 1Q FY21
Trading update – Revenue performance by segment through 1Q FY21 Revenue decreased 33%, primarily due to the continuing impact of the COVID-19 pandemic on the Group’s markets. ATN revenue (A$m) CTN revenue (A$m) 20.8 7.4 6.3 11.6 1Q FY20 1Q FY21 1Q FY20 1Q FY21 UKTN revenue (A$m) BTN revenue (A$m) 11
Slide 11: Trading update – Revenue by segment in local currency
Trading update – Revenue performance by segment through 1Q FY21 in local currency All markets negatively impacted by the COVID-19 pandemic. Australian performance negatively impacted by Melbourne shutdown during the quarter. ATN revenue (A$m) CTN revenue (CAD$m) 6.7 20.8 6.0 11.6 1Q FY20 1Q FY21 1Q
Slide 12: All markets showed marked improvement in 1Q FY21 compared to 4Q FY2020
All markets showed marked improvement in 1Q FY21 compared to 4Q FY2020 Revenue decrease improved from (57)% in 4Q FY20 to (33)% in 1Q FY21 All markets are still being impacted by the COVID-19 pandemic. Australian performance was negatively impacted by Melbourne shutdown during quarter. ATN revenue (
Slide 13: Financial position continues to be strong despite challenging environment
Financial position continues to be strong despite challenging environment Solid balance sheet positions Company to ride out the downturn ⚫ Cash balance at 30 September 2020 of $56.5 million —Net debt of $7.6 million including leases of $4.1 million —Total Gearing Ratio (net debt) of 1.06x at 30 Sept
Slide 14: GTN outlook for 1H FY2021
GTN outlook for 1H FY2021 Expect trading environment to continue to be similar to 1Q FY21 ⚫ Revenue continues to improve steadily, decreasing only 33% in 1Q FY21 compared to 1Q FY20. —Significant improvement when compared to 57% decrease 4Q FY19 to 4Q FY20 ⚫ To date turnaround continues to be positi
Slide 15: Formal Business – Robert Loewenthal
Section 03 Formal Business – Robert Loewenthal
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 2020. 15
Slide 17: Questions and Comments
Questions and Comments CROSS HCHESHEEHSESEHCEHOHOHOHHSHEOHSHOHEEOHSHHOHOSELEHEHSEHSEOHEHEHHAOELEHHEHOHHOSOHCOSEOLOHOLE
Slide 18: Resolution 1 – Issue of Options under the GTN Long Term Incentive Plan: William Yde
Resolution 1 – Issue of Options under the GTN Long Term Incentive Plan: William Yde To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Shareholders approve and authorise for the purposes of ASX Listing Rule 6.23.2, ASX Listing Rule 10.14, and for all
Slide 19: 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 2020, as set out in the Directors’ Report, is adopted.” Proxies have been received
Slide 20: Resolution 3 – Spill Resolution (Conditional)
Resolution 3 – Spill Resolution (Conditional) To consider and, if thought fit, to pass the following as an ordinary resolution: “That, subject to and conditional on at least 25% of the votes validly cast on Resolution 2 being cast against adoption of the Company’s Remuneration Report for the year en
Slide 21: Resolution 4 – Election of Director – Peter Tonagh
Resolution 4 – 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 10.3b(ii) of the Company’s Constitution and being eligible for election, is elected as a Director
Slide 22: Resolution 5 – Election of Director – David Ryan AO
Resolution 5 – 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 AO, who retires in accordance with clause 10.3b(iii) of the Company’s Constitution and being eligible for election, is elected as a Direc
Slide 23: Resolution 6 – Appointment of Grant Thornton as Auditor
Resolution 6 – Appointment of Grant Thornton as Auditor To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That, in accordance with section 327C(2) of the Corporations Act 2001 and for all other purposes, Grant Thornton Audit Pty Ltd, having been nominated
Slide 24: Questions and Comments
Questions and Comments CROSS HCHESHEEHSESEHCEHOHOHOHHSHEOHSHOHEEOHSHHOHOSELEHEHSEHSEOHEHEHHAOELEHHEHOHHOSOHCOSEOLOHOLE
Slide 25: Appendix A – Reconciliation of financial information
Appendix A Reconciliation of financial information
Slide 26: 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 (loss) before income tax ($m) (1) FY2020 FY2019 Profit (loss) before income tax (0.6) 22.9 Depreciation and amortization 11.8 11.2 Finance costs 2.9 3.6 Interes
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