Gtn Ltd. · ASX:GTN
Gtn — Shareholder Meeting (November 2022)
28 slides from Gtn's shareholder meeting presentation, Nov 16, 2022
Slide 1: GTN Limited AGM Presentation
GTN Limited AGM Presentation November 16, 2022
Slide 2: Contents
Contents 01 Chair’s Address – Peter Tonagh 5 02 CEO’s address – Bill Yde 6 03 Formal Business – Peter Tonagh 14 A Reconciliation of financial information 25
Slide 3: Today's presenters
Today’s presenters Peter Tonagh (Chair) Bill Yde (Managing Director and CEO) 2
Slide 4: Our Board of Directors
Our Board of Directors Peter Tonagh William Yde III (“Bill”) Chairman Managing Director and CEO — Experience as a C-suite executive in — Over 40 years of experience in the large Australian media companies, radio and media industry. including CEO of Foxtel and News — Co-founded ATN in 1997 and later
Slide 5: Our Board of Directors (continued)
Our Board of Directors (continued) David Ryan AO Corinna Keller Robert Loewenthal Alexandra Baker (“Alexi”) Director Director Director Director — Over 40 years of — Vice President, Advertising — Over 15 years of — Chief Digital and Customer experience in commercial Sales for Latin America & experien
Slide 6: Chair's Address – Peter Tonagh
Section 01 Chair’s Address – Peter Tonagh
Slide 7: CEO's address – Bill Yde
Section 02 CEO’s address – Bill Yde
Slide 8: FY2022 Recap – Results Overview
FY2022 Recap – Results Overview GTN’s FY22 Adjusted EBITDA increased 22% compared to FY21 due to 12% increase in Group revenue Key Highlights FY22 revenue increased 12% compared to FY21 • Revenue increased in all four of Group’s markets A$m(4) FY22 FY21 % Difference • Revenue increased in both loc
Slide 9: FY2022 Recap – Financial Position
FY2022 Recap – Financial Position Net cash (cash less debt balances) of $1.2 million Historical balance sheet Summary cash flow 30 June 2022 30 June 2021 Current Assets $’000 $’000 Cash and cash equivalents 34,844 49,376 FY22 FY21 Trade and other receivables 37,751 31,003 $Am Current tax assets 4,08
Slide 10: FY2022 Recap – KPIs
FY2022 Recap – KPIs GTN continues to maintain a robust inventory of commercial spots which has the potential for significant increase in revenue without acquiring additional inventory GTN operational KPIs (by geographic segment) FY2022 Actual FY2021 Actual vs. FY2021 Australia (ATN) Radio spots inve
Slide 11: Trading update – Revenue performance by segment for 1Q FY23
Trading update – Revenue performance by segment for 1Q FY23 Group revenue increased 9% to $39.3m with all operating regions except U.K. exceeding 1Q FY22 revenue Australia led the way with a 30% increase compared to the previous year period ATN revenue (A$m) CTN revenue (A$m) 7.1 19.9 15.3 6.6 1Q FY
Slide 12: Trading update – Revenue by segment for 1Q FY23 in local currency
Trading update – Revenue performance by segment for 1Q FY23 in local currency All markets increased revenue except U.K. which is dealing with difficult macro economic factors in the market ATN revenue (A$m) CTN revenue (CAD$m) 6.3 6.1 19.9 15.3 1Q FY22 1Q FY23 1Q FY22 1Q FY23 UKTN revenue (GBP£m) BT
Slide 13: Strong financial position
Strong financial position Solid balance sheet and improving performance leaves Company well positioned for future Cash balance at 30 September 2022 of $33.0 million —Net debt of $0.3 million including leases of $3.3 million —Balances after payment of $2.8 million Final FY22 dividend and share buyb
Slide 14: GTN outlook for 1H FY2023
GTN outlook for 1H FY2023 Expect continued revenue growth when compared to 1H FY2022 Revenue continues to improve steadily, increasing 9% in 1Q FY23 compared to 1Q FY22. • Sales continue to recover from the negative impact of the pandemic To date turnaround continues to be positive as 2Q FY23 bo
Slide 15: Formal Business – Peter Tonagh
Section 03 Formal Business – Peter Tonagh
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 2022. 15
Slide 17: Questions and Comments
Questions and Comments CROSS HCHESHEEHSESEHCEHOHOHOHHSHEOHSHOHEEOHSHHOHOSELEHEHSEHSEOHEHEHHAOELEHHEHOHHOSOHCOSEOLOHOLE
Slide 18: Resolution 1 – Re-election of Director – Corinna Keller
Resolution 1 – Re-election of Director – Corinna Keller To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Corinna Keller, who retires in accordance with clause 10.3(b)(iii) of the Company’s Constitution and being eligible for election, is re-elected
Slide 19: Resolution 2 – Election of Director – Alexi Baker
Resolution 2 – Election of Director – Alexi Baker To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Alexi Baker, who retires in accordance with clause 10.3(b)(ii) of the Company’s Constitution and being eligible for election, is elected as a Director
Slide 20: Resolution 3 – Remuneration Report
Resolution 3 – 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 2022, be adopted.” Proxies have been received in respect of the resolution as follo
Slide 21: Resolution 4 – Issue of Options under the GTN Long Term Incentive Plan
Resolution 4 – 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, for the purposes of ASX Listing Rule 10.14 and for all other purposes, the Company approves the grant of 1,000,000
Slide 22: Resolution 5 – Amendments to the Company's constitution relating to CHESS
Resolution 5 – Amendments to the Company’s constitution relating to CHESS To consider and, if thought fit, pass the following as a special resolution of the Company: “That, with effect from the close of the Meeting, the Company adopt those changes to the Constitution relating to CHESS as set out in
Slide 23: Resolution 6 – Amendments to the constitution relating to the use of technology
Resolution 6 – Amendments to the Company’s constitution relating to the use of technology To consider and, if thought fit, pass the following as a special resolution of the Company: "That, with effect from the close of the Meeting, the Company adopt those changes to the Constitution relating to the
Slide 24: Resolution 7 – Spill Resolution (Conditional)
Resolution 7 – 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 3 being cast against adoption of the Company’s Remuneration Report for the year en
Slide 25: Questions and Comments
Questions and Comments CROSS HCHESHEEHSESEHCEHOHOHOHHSHEOHSHOHEEOHSHHOHOSELEHEHSEHSEOHEHEHHAOELEHHEHOHHOSOHCOSEOLOHOLE
Slide 26: Appendix A – Reconciliation of financial information
Appendix A Reconciliation of financial information
Slide 27: 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 before income tax ($m) (1) FY2022 FY2021 Profit before income tax 5.2 1.4 Depreciation and amortisation 10.6 10.8 Finance costs 1.3 2.0 Interest on bank deposit
Slide 28: 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