Gtn Ltd. · ASX:GTN
Gtn — Shareholder Meeting (November 2021)
24 slides from Gtn's shareholder meeting presentation, Nov 11, 2021
Slide 1: GTN Limited AGM Presentation
GTN Limited AGM Presentation November 2021
Slide 2: Contents
Contents 01 Chairman’s Address – Peter Tonagh 4 02 CEO’s address – Bill Yde 5 03 Formal Business – Peter Tonagh 13 A Reconciliation of financial information 21
Slide 3: Today's presenters
Today’s presenters Peter Tonagh (Chairman) Bill Yde (Managing Director and CEO) 2
Slide 4: Our Board of Directors
Our Board of Directors Peter Tonagh William Yde III (“Bill”) David Ryan AO Corinna Keller Robert Loewenthal Chairman Managing Director and CEO Director Director Director — Experience as a C-suite — Over 40 years of — Over 40 years of — Vice President, Advertising — Over 15 years of executive in larg
Slide 5: Chairman's Address – Peter Tonagh
Section 01 Chairman’s Address – Peter Tonagh
Slide 6: CEO's address – Bill Yde
Section 02 CEO’s address – Bill Yde
Slide 7: FY2021 Recap – Results Overview
FY2021 Recap – Results Overview GTN’s FY21 Adjusted EBITDA only decreased slightly compared to FY20 despite an 11% drop in revenue that resulted from the continuing impact of the COVID-19 pandemic Key Highlights FY21 revenue decreased 11% due to COVID-19 pandemic • Revenue increased 85% in 4Q FY21
Slide 8: FY2021 recap – Financial Position
FY2021 recap – Financial Position Net debt (debt less cash balances) of $3.8 million. Total Gearing (net debt) to Adjusted EBITDA of 0.27x. Historical balance sheet Summary cash flow 30 June 2021 30 June 2020 Current Assets $’000 $’000 Cash and cash equivalents 49,376 57,040 Trade and other receivab
Slide 9: FY2021 recap – KPIs
FY2021 recap – KPIs GTN’s FY21 revenue results underpinned by maintaining inventory (excluding the termination of Nine Radio) across its four operating geographies with sell-out and spot rate generally being adversely impacted by the COVID-19 pandemic. GTN operational KPIs (by geographic segment) FY
Slide 10: Trading update – Revenue performance by segment for 1Q FY22
Trading update – Revenue performance by segment for 1Q FY22 Group revenue increased 23% with all operating regions exceeding 1Q FY21 revenue Australia revenue increased 32% despite Sydney and Melbourne lockdowns ATN revenue (A$m) CTN revenue (A$m) 6.6 15.3 11.6 6.3 1Q FY21 1Q FY22 1Q FY21 1Q FY22 UK
Slide 11: Trading update – Revenue performance by segment for 1Q FY22 in local currency
Trading update – Revenue performance by segment for 1Q FY22 in local currency All markets increased revenue despite the continued negative impact of the COVID-19 pandemic. ATN revenue (A$m) CTN revenue (CAD$m) 15.3 6.1 6.0 11.6 1Q FY21 1Q FY22 1Q FY21 1Q FY22 UKTN revenue (GBP£m) BTN revenue (BRL$m)
Slide 12: Strong financial position even with ongoing challenges globally
Strong financial position even with ongoing challenges globally Solid balance sheet and improving performance leaves Company well positioned for future Cash balance at 30 September 2021 of $44.9 million —Net debt of $3.3 million including leases of $3.1 million —Total Gearing Ratio (net debt) of 0
Slide 13: GTN outlook for 1H FY2022
GTN outlook for 1H FY2022 Expect continued revenue growth when compared to 1H FY2021 Revenue continues to improve steadily, increasing 23% in 1Q FY22 compared to 1Q FY21. • Significant improvement when compared to onset of the pandemic (57% decrease 4Q FY19 to 4Q FY20) To date turnaround continu
Slide 14: Formal Business – Peter Tonagh
Section 03 Formal Business – Peter Tonagh
Slide 15: 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 2021. 14
Slide 16: Questions and Comments
Questions and Comments CROCS HCHCHOHHHEHCHHOHEHSEHSOHSHOHOSOHEHSELEEHEHEOHEHLEHESEHEHEHEHSHEHHHEOHLOEOOHOEELEOELEOFE
Slide 17: Resolution 1 – Re-election of Director – Robert Loewenthal
Resolution 1 – Re-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 10.3b(iii) of the Company’s Constitution and being eligible for election, is re-elec
Slide 18: 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 2021, be adopted.” Proxies have been received in respect of the resolution as follo
Slide 19: Resolution 3 – Issue of Options under the GTN Long Term Incentive Plan - William Yde
Resolution 3 – 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 20: Resolution 4 – Renewal of proportional takeover provisions in the Constitution
Resolution 4 – Renewal of proportional takeover provisions in the Constitution To consider and, if thought fit, pass the following as a special resolution of the Company: “That articles 6.8 to 6.12 of the Constitution of the Company, as set out in Schedule 1 of the Notice of Meeting, are renewed for
Slide 21: Questions and Comments
Questions and Comments CROCS HCHCHOHHHEHCHHOHEHSEHSOHSHOHOSOHEHSELEEHEHEOHEHLEHESEHEHEHEHSHEHHHEOHLOEOOHOEELEOELEOFE
Slide 22: Appendix A
Appendix A Reconciliation of financial information
Slide 23: 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) FY2021 FY2020 Profit (loss) before income tax 1.4 (0.6) Depreciation and amortization 10.8 11.8 Finance costs 2.0 2.9 Interest
Slide 24: 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