Slide 1: GTN Limited FY19 Results Presentation
GTN Limited FY19 Results Presentation 29 August 2019
Slide 2: Today's presenters
Today’s presenters Bill Yde (CEO and founder) Scott Cody (CFO and COO) 1
Slide 3: Contents
Contents 01 Overview 3 02 Group financial performance 6 03 Financial performance by operating segment 9 04 Update on growth strategy 14 A Additional financial information 17
Slide 4: Overview
Section 01 Overview
Slide 5: Overview: FY19 revenue unchanged compared to FY18
Overview GTN’s FY19 revenue from continuing operations unchanged compared to FY18 Key Highlights ⚫ FY19 revenue underpinned by growth in all non-Australian markets A$m(5) FY19(1) FY18(1) % Difference — All non-Australian markets reported revenue increase over FY19 in local currencies and AUD — Austr
Slide 6: GTN's global advertising platform
GTN’s global advertising platform GTN’s global advertising platform is a combination of established, market leading businesses and large new market opportunities ATN CTN UKTN BTN FY2019 Revenue A$m 93.9 33.2 45.2 12.6 FY2018 Revenue A$m 100.8 29.8 42.2 12.2 FY19 vs FY18 (6.8)% +11.2% +7.2% +3.7% Num
Slide 7: Group financial performance
Section 02 Group financial performance
Slide 8: Key drivers of financial performance
Key drivers of financial performance GTN revenue from continuing operations unchanged while earnings declined on higher costs Commentary GTN Group revenue(1) ⚫ Revenue driven by: — Organic growth in all non-Australian markets in both local currency and AUD (+8%) — Overall revenue growth offset by 7%
Slide 9: Strong liquidity position
Strong liquidity position Net debt (debt less cash balances) of $12.8 million. Total Gearing to Adjusted EBITDA of 0.34x Historical balance sheet Summary cash flow (1) 30 June 2019 30 June 2018 Current Assets $’000 $’000 Cash and cash equivalents 50,728 52,232 Trade and other receivables 38,091 38,6
Slide 10: Financial performance by operating segment
Section 03 Financial performance by operating segment
Slide 11: ATN
ATN ATN revenue decreased in a challenging macro environment ATN revenue performance Commentary ⚫ ATN revenue declined by 6.8% due to weak second to fourth quarter performance — Difficult macro market in Australia combined with key account losses 100.8 93.9 ⚫ Significant increase in radio spots inve
Slide 12: CTN
CTN CTN showed accelerating revenue growth in CAD and AUD CTN revenue performance (AUD) CTN revenue performance (CAD) 33.2 31.4 29.8 29.4 FY18 FY19 FY18 FY19 Commentary ⚫ CTN achieved FY19 revenue growth in both CAD and AUD CTN KPIs — 2H19 revenue up 16% (+10% in CAD) FY19 FY18 % chg — Currency fluc
Slide 13: UKTN
UKTN UKTN demonstrated solid revenue growth in both GBP and AUD UKTN revenue performance (AUD) UKTN revenue performance (GBP) 45.2 25.0 42.2 24.3 FY18 FY19 FY18 FY19 UKTN KPIs Commentary ⚫ UKTN revenue increased primarily due to higher sell through of FY19 FY18 % chg existing inventory. Total radio
Slide 14: BTN
BTN BTN achieved strong revenue growth of 12% in local currency which was negatively impacted by unfavourable currency fluctuations BTN revenue performance (AUD) BTN revenue performance (BRL) 12.6 34.9 12.2 31.2 FY18 FY19 FY18 FY19 Commentary ⚫ Strong revenue growth in Brazil driven by: — Significan
Slide 15: Update on growth strategy
Section 04 Update on growth strategy
Slide 16: GTN growth strategy
GTN growth strategy Management is focused on accelerating revenue growth in all markets ⚫ Australia —Commitment to managing sales staff and process to ensure ATN maximizes revenue in a difficult market and is well positioned when market conditions improve —Promoted new market manager and added manag
Slide 17: Capital Management
Capital Management On-market share buyback continues ⚫ On-market share buyback as part of ongoing capital management —Up to 10% of outstanding shares (up to $20 million) from 25 February 2019 should the GTN stock price trade at a significant discount to the Board’s view of its underlying value —Inte
Slide 18: Appendix A: Additional financial information
Appendix A Additional financial information
Slide 19: Reconciliation of non-IFRS measurements back to IFRS
Reconciliation of non-IFRS measurements back to IFRS EBITDA, Adjusted EBITDA & NPATA Reconciliation of EBITDA and Adjusted EBITDA to Profit before income tax from continuing operations (2) ($m) (1) FY2019 FY2018 Profit before income tax from continuing operations 22.9 34.2 Depreciation and amortizat
Slide 20: 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