Gtn Ltd. · ASX:GTN
Gtn — H1 2025 Earnings Presentation
27 slides from Gtn's earnings presentation, Feb 24, 2025
Slide 1: 1H FY25 Results Presentation
GTN Limited 1H FY25 Results Presentationv Release Date 24th February 1
Slide 2: Today’s Presenters
Today’s Presenters Peter Tonagh Brent Henley Vic Lorusso Chairman Global CFO CEO, ATN 2
Slide 3: Sections
Sections Sections 01> Key business highlights 4 01> Key business highlights 4 02> Group financial performance 9 02> GTN Company overview and 1H Group operational highlights 6 03> Financial performance by operating segment 12 03> Group financial performance 11 04> Capital management 17 04> Financial
Slide 4: Key Business Highlights
Key Business Highlights Section 01> 4
Slide 5: 1H FY25 Key Messages
1H FY25 Key Messages ➢ 1H FY25 revenue of $96.7 million, an increase of 2% compared to 1H FY24 ➢ International operations have grown to represent 55% of GTN’s revenue ➢ Adjusted EBITDA of $12.5 million, down 7% compared to 1H FY24, inclusive of non-recurring costs of $1.45m ➢ NPAT of $4.9 million, u
Slide 6: GTN Company Overview and 1H FY25 Group Operational Highlights
GTN Company Overview and 1H FY25 Group Operational Highlights Section 02> 6
Slide 7: GTN Company Overview
GTN Company Overview CTN UKTN BTN ATN GTN currently operates in Australia, Canada, the United Kingdom and GTN is one of the largest suppliers of traffic information reports to radio Brazil, four of the 10 largest advertising markets in the world. GTN stations in its operating geographies. In exchang
Slide 8: GTN’s advertising platform provides advertisers with high impact campaigns
GTN’s advertising platform provides advertisers with high impact campaigns because advertisements are ideally placed during peak audience times and are aired frequently across large audiences. GTN’s advertisements are short in duration, adjacent to engaging information reports and are often read liv
Slide 9: ATN: Re-aligns business to drive growth
atn: Re-aligns business to drive growth Expanded product range to leverage audience reach A simple traffic network is now a ‘critical information’ network with sports, news, weather, entertainment, and fuel reports in addition to traffic providing the information Australians need to maximise their d
Slide 10: CTN, BTN and GTN UK network highlights
CTN is the largest independent network of BTN continues to lead the way in GTN UK is the largest independent radio stations delivering content driven information broadcasting, radio network, delivering Traffic & traffic reports in Canada to more than 100 delivering real time, relevant Travel and Ent
Slide 11: Group Financial Performance
Group Financial Performance Section 03> 11
Slide 12: 1H FY25 Revenue and ADJ. EBITDA
1H FY25 Revenue and ADJ. EBITDA Includes non-recurring costs of $1.45 million plus investment in growth initiatives 1H FY25 revenue of $96.7 million, an increase of 2% compared to 1H FY24 • Strong revenue growth in both the UK (+12%) and Brazil (+11%), flat in Australia with Canada declining 3% (all
Slide 13: Strong Balance Sheet
Strong Balance Sheet Net cash of $14.5 million, meaningful unwind of working capital post balance date • Net free cash flow before financing, tax and dividends of $0.6 million o Driven by Working Capital build of $11.8 million in 1H FY25, which has unwound in 2025 • Net Cash as of 17th February of $
Slide 14: Strategy and Capital Management
Strategy and Capital Management Announced 1H FY25 dividend of 100% of NPAT • $0.0247 dividend per share (unfranked) • Reflects an annualised dividend yield of 9.1% based on GTN’s last closing share price (unfranked) (1) • The Board confirms an intended dividend policy of up to 100% of NPAT We are se
Slide 15: Key KPI’s by Market
Key KPI’s by Market ATN CTN UKTN BTN 1H FY25 Revenue A$m 44.0 15.9 27.9 8.9 1H FY24 Revenue A$m 43.9 17.0 24.5 9.4 1H FY25 vs 1H FY24 % (0)% (6)% 14% (6)% Number of Radio Stations # 201 104 242 105 Number of TV Stations # 9 6 - - GTN Radio Audience million 11.7 12.4 31.2 27.0 GTN TV Audience million
Slide 16: Financial Performance by Operating Segment
Financial Performance by Operating Segment Section 04> 16
Slide 17: ATN
ATN ATN Adjusted EBITDA of $9.8m Reflecting a strategic investment in committed premium inventory ATN revenue performance (AUD $m) 1H FY24 43.9 0.3% 1H FY25 44.0 ATN KPIs 1H FY25 1H FY24 % chg Radio spots inventory ('000s) (1) 566 546 3.7% (2) Radio sell-out rate (%) 59% 59% +0% points Average radio
Slide 18: BTN
BTN BTN posted a strong 11% increase in revenue AUD performance impacted by a 17% decrease in the BRL exchange rate BTN revenue performance (AUD $m) 1H FY24 9.4 (5.5)% 1H FY25 8.9 BTN revenue performance (BRL $m) 1H FY24 30.3 +10.6% 1H FY25 33.5 BTN KPIs 1H FY25 1H FY24 % chg (1) Radio spots invento
Slide 19: CTN
CTN CTN had a challenging 1H FY25 with revenue decreasing 3% in local currency and 6% in AUD compared to 1H FY24 CTN revenue performance (AUD $m) 1H FY24 17.0 (6.1)% 1H FY25 15.9 CTN revenue performance (CAD $m) 1H FY24 15.0 (2.9)% 1H FY25 14.5 CTN KPIs 1H FY25 1H FY24 % chg (1) Radio spots inventor
Slide 20: UKTN
UKTN UKTN Adjusted EBITDA improved 36% compared to 1H FY24 UKTN revenue performance (AUD $m) 1H FY24 24.5 +13.7% 1H FY25 27.9 UKTN revenue performance (GBP $m) 1H FY24 12.8 +11.8% 1H FY25 14.3 UKTN KPIs 1H FY25 1H FY24 % chg Total radio impacts available ('000s)1 12,005 11,085 8.3% Radio sell-out ra
Slide 21: Capital Management
Capital Management Section 05> 21
Slide 22: Capital Management
Capital Management We are seeking to grow operating earnings and optimise capital management As of 31 December 2024, GTN held a Net cash balance of $14.5 million Company announced new share buyback program starting 29 ($11.6 million after including lease liabilities under AASB16) August 2024 for up
Slide 23: Trading Update
Trading Update Section 06> 23
Slide 24: GTN FY25 Outlook
GTN FY25 Outlook Market continues to have a short sales cycle, with January Continued expansion into new regions in Brazil, internally 2025 revenue finishing slightly ahead of FY24 funded by sale of redundant helicopter asset Effectively exited Drone business with final asset sale Unable to forecast
Slide 25: Additional financial information
Appendix A> Appendix A> Additional Additional financial information financial information 25
Slide 26: IFRS EBITDA, Adjusted EBITDA & NPATA
Reconciliation of non-IFRS measurements back to IFRS EBITDA, Adjusted EBITDA & NPATA Reconciliation of EBITDA, and Adjusted EBITDA to Profit before income tax ($m) (1) 1H FY25 1H FY24 Profit before income tax 7.2 5.3 Depreciation and amortisation 5.9 6.5 Finance costs 0.3 0.9 Interest on bank deposi
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