Slide 1: FY17 Results Presentation
For personal use only GTN Limited FY17 Results Presentation 31 August 2017
Slide 2: Today's presenters
Today’s presenters For personal use only Bill Yde (CEO and founder) Scott Cody (CFO and COO) 1
Slide 3: Contents
For personal use only Contents 01 Overview 3 02 Group financial performance 6 03 Financial performance by operating segment 10 04 Update on growth strategy 16 A Additional financial information 18
Slide 4: Overview
For personal use only Section Overview 01
Slide 5: Key Highlights
Key Highlights For personal use only GTN’s FY2017 results exceeded Prospectus forecast excluding the impact of its USTN operations Key Highlights FY17 results (Ex-USTN) exceeded Prospectus forecast(1) FY17 FY17 FY17 FY17 Statutory FY17 Statutory — Adjusted EBITDA of $28.9 million ($48.9 million ex
Slide 6: GTN's global advertising platform
GTN’s global advertising platform For personal use only GTN’s global advertising platform is a combination of established, market leading businesses and large new market opportunities ATN CTN UKTN BTN USTN FY 2016 Revenue A$m 89.8 23.6 47.5 5.2 - FY 2017 Revenue A$m 98.7 28.0 40.9 11.0 35.1 FY 2017
Slide 7: Group financial performance
For personal use only Section 02 Group financial performance
Slide 8: Key revenue drivers
Key revenue drivers For personal use only GTN group revenue (ex USTN) exceeded FY17 Prospectus forecast by $1.2m ( +0.7%) and grew by +7.5% on FY16 GTN revenue profile Commentary 213.6 Revenue result driven by growth across GTN’s original markets in local currency with Revenue Ex-USTN Australia, B
Slide 9: Key earnings drivers
Key earnings drivers For personal use only GTN group Adjusted EBITDA (ex USTN) exceeded FY17 Prospectus forecast by $3.2m (+7.0%). FY17 NPATA (ex USTN) was $32.5m, exceeding Prospectus forecast by ~$6.8m (+26.3%) GTN Adjusted EBITDA profile Commentary 60 50% Lower operating expenses due to foreign
Slide 10: Strong liquidity position
Strong liquidity position For personal use only With net cash of $0.7m, GTN has sufficient balance sheet flexibility to continue investing in the development of its USTN operations Historical balance sheet (30 June 2017) Summary cash flow 2017 2016 FY17 FY17 FY17 Current Assets $’000 $’000 $Am Cash
Slide 11: Financial performance by operating segment
For personal use only Section 03 Financial performance by operating segment
Slide 12: Australia (ATN)
Australia (ATN) For personal use only Australia continues to perform strongly, with higher than expected 9.9% YoY growth in revenue resulting in Adjusted EBITDA which exceeded Prospectus forecast Revenue profile Commentary 120 20% Australia continues to generate above market revenue growth 98.7 10
Slide 13: Canada (CTN)
Canada (CTN) For personal use only Following growth in its affiliate network throughout FY16, Canada has achieved higher than forecast Revenue and Adjusted EBITDA Revenue profile Commentary 30 28.0 25% Canada is experiencing the strong revenue growth anticipated following the 23.6 18.7% strengthen
Slide 14: United Kingdom (UKTN)
United Kingdom (UKTN) For personal use only GTN’s UK operations continue to provide a stable source of revenue and cash flow. FY17 Prospectus forecast was met in local currency but was impacted unfavourably by the lower GBP Revenue profile Commentary UKTN continues to be a good contributor to grou
Slide 15: Brazil (BTN)
Brazil (BTN) For personal use only Brazilian operations contributed positive EBITDA for the first time in FY17. Local management remain focused on building a stronger network to strengthen the product offering for BTN’s advertising clients Revenue profile Commentary 12 11.0 130% Positive EBITDA co
Slide 16: United States (USTN)
United States (USTN) For personal use only United States contributed Revenue of $35.1 million for the seven months it was operated by the Group Commentary Progress against key priorities Revenue of $35.1m consistent with expectations Increase audience — Reflects 7 months of operations including
Slide 17: Update on growth strategy
For personal use only Section 04 Update on growth strategy
Slide 18: GTN growth strategy
GTN growth strategy For personal use only Management are focused on capitalising on the strong growth outlook for Brazil and Canada, in addition to monetising the large audience reach it now has across the United States Australia — Focus on continuing to out-pace the Australia media advertising ma
Slide 19: Appendix A: Additional financial information
For personal use only Appendix A Additional financial information
Slide 20: Annual Pro Forma and Statutory Income Statement FY2013-FY2017A
Annual Pro Forma and Statutory Income Statement FY2013-FY2017A For personal use only Pro Forma Historical Results for FY2013 – FY2017 Pro Forma Historical Results FY2017 Statutory Result FY2017A (ex- FY2017A FY2017A USTN FY2017F A#039;000s FY2013 FY2014 FY2015 FY2016 USTN) Revenues 125,004 138,049 153,
Slide 21: Reconciliation of pro forma to statutory results
Reconciliation of pro forma to statutory results For personal use only Pro forma adjustments to the Actual Historical Results and Statutory Forecast Results FY2017A (ex- FY2013 FY2014 FY2015 FY2016A FY2017A FY2017A USTN FY2017F A#039;000s USTN) Statutory NPAT (19,606) (1,464) (18,169) (17,234) 6,205 (2
Slide 22: Annual cash flow statement
Annual cash flow statement For personal use only Cash Flows for FY2013 – FY2017 Pro forma Historical Cash Flows FY2017 Statutory Cash Flows A#039;000s FY2013 FY2014 FY2015 FY2016 FY2017A FY2017A USTN FY2017A (ex USTN) FY2017F Adjusted EBITDA 17,563 24,467 28,598 34,646 28,935 (19,921) 48,856 45,644 Non
Slide 23: Reconciliation of statutory to pro forma cash flows
Reconciliation of statutory to pro forma cash flows For personal use only Pro forma adjustments to the Actual Historical Cash Flows and Statutory Forecast Cash Flows FY2017A (ex- FY2013 FY2014 FY2015 FY2016A FY2017A FY2017A USTN FY2017F A#039;000s USTN) Net free cash flow before financing, tax and divi
Slide 24: Disclaimer and important information
Disclaimer and important information For personal use only 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. I