Gtn Ltd. · ASX:GTN
Gtn — H1 FY2024 Earnings Presentation
24 slides from Gtn's earnings presentation, Feb 23, 2024
Slide 1: GTN Limited 1H FY24 Results Presentation
GTN Limited 1H FY24 Results Presentation 23 February 2024
Slide 2: Today's Presenters
Today’s Presenters y (CFO)Peter Tonagh (Chair) Brent Henley (CFO) 1
Slide 3: Contents
Contents 01 GTN Company Overview and Business Design 3 02 Key Business Highlights 7 03 Financial performance by operating segment 10 04 Financial performance by operating segment 13 05 Operating strategy and capital management 18 A Additional financial information 21
Slide 4: Company Overview and Business Design
Section 01 Company Overview and Business Design
Slide 5: A New Era for GTN
‘A New Era for GTN’ Greater Country P&L Accountability PLUS Greater Collaboration Across Markets Vic Lorusso Brent Henley Sophie Jackson CEO Global CFO Global General Counsel ATN GTN GTN John Quinn Chief Operating Officer UKTN Donna Gardner President CTN Fabio Menezes Director of Sales and Marketing
Slide 6: Company Overview
Company Overview ATN BTN CTN UKTN ATN is one of the largest BTN has been operating in Brazil CTN provides a unique advertising GTN is the largest independent broadcast media advertising since 2011. The broadcast takes place platform by embedding a 10-second radio / audio network in the UK. platform
Slide 7: Regional Business Design
Business Design Regional ATN BTN CTN UKTN Business 1H FY24 Performance Revenue - $43.9m Revenue - $9.4m Revenue - $17.0m Revenue - $24.5m Adj. EBITDA - $10.5m Adj EBITDA - $2.1m Adj EBITDA - $2.9m Adj EBITDA - $1.4m What we do ATN is one of the largest broadcast Leading provider of personalized The
Slide 8: Key Business Highlights
Section 02 Key Business Highlights
Slide 9: Key Business Highlights
Key Business Highlights GTN’s 1H FY24 Adjusted EBITDA increased 11% compared to 1H FY23 due to an 5% increase in Group revenue Revenue Adj. EBITDA NPAT EPS $94.8m $13.3m $4.4m $0.022 1H FY24 revenue increased 5% compared to 1H FY23 Strong liquidity position with net debt of $0.5 million • Strong
Slide 10: GTN's global advertising platform
GTN’s global advertising platform GTN’s global advertising platform is a combination of established, market leading businesses and large newer market opportunities ATN CTN UKTN BTN 1H FY2024 Revenue A$m 43.9 17.0 24.5 9.4 1H FY2023 Revenue A$m 45.8 17.7 21.4 5.4 1H FY24 vs FY23 (4.3)% (4.4)% 14.8% 7
Slide 11: Group Financial Performance
Q&A 01 Insert divider title 3 A Insert divider title 7 Section 03 Group Financial Performance
Slide 12: Key Drivers of Financial Performance
Key Drivers of Financial Performance Adjusted EBITDA increased 11% to $13.3m due to 5% revenue increase Commentary GTN Group Revenue +5.0% • Revenue increased 5% compared to 1H FY23 GTN • Revenue increase driven by strong performances in Brazil and the UK • Australia and Canada revenue decreased sli
Slide 13: Strong Liquidity Position
Strong Liquidity Position Net Debt (cash less debt balances) of $0.5 million Historical balance sheet Summary cash flow 31 December 2023 30 June 2023 1H FY24 1H FY23 Current Assets $’000 $’000 $Am Cash and cash equivalents 23,626 30,606 Trade and other receivables 48,558 41,194 Adjusted EBITDA 13.3
Slide 14: Financial Performance by Operating Segment
Q&A 01 Insert divider title 3 A Insert divider title 7 Section 04 Financial Performance by Operating Segment
Slide 15: ATN
ATN ATN delivered improved Adjusted EBITDA on 4% reduction in revenue in 1H FY24 ATN revenue performance Commentary ATN revenue decreased by 4.3% in 1H FY24 (4.3)% • Radio spots inventory and spots sold both increased compared to 1H FY23 45.8 • Average spot rate decreased by 5.5% from 1H FY23 43.9
Slide 16: BTN
BTN BTN posted a robust 76% increase in revenue - The largest increase of the Group BTN revenue performance (AUD) BTN revenue performance (BRL) +75.8% +60.4% 9.4 30.3 5.4 18.9 1H FY23 1H FY24 1H FY23 1H FY24 Commentary BTN KPIs 1H FY24 Revenue increased 76% compared to 1H FY23 1H FY24 1H FY23 % ch
Slide 17: CTN
CTN CTN had a challenging 1H FY24 with revenue decreasing 5.4% in local currency and 4.4% in AUD compared to 1H FY23 CTN revenue performance (AUD) CTN revenue performance (CAD) (4.4)% (5.4)% 17.7 17.0 15.8 15.0 1H FY23 1H FY24 1H FY23 1H FY24 CTN KPIs Commentary CTN revenue decreased slightly in b
Slide 18: UKTN
UKTN UKTN revenue increased in both AUD and local currency compared to 1H FY23 UKTN revenue performance (AUD) UKTN revenue performance (GBP) +14.8% +4.9% 24.5 21.4 12.8 12.2 1H FY23 1H FY24 1H FY23 1H FY24 UKTN KPIs Commentary UKTN revenue increased in both local currency and AUD 1H FY24 1H FY23 %
Slide 19: Operating Strategy and Capital Management
Q&A 01 Insert divider title 3 A Insert divider title 7 Section 05 Operating Strategy and Capital Management
Slide 20: GTN Operating Strategy
GTN Operating Strategy Management continues to focus on maintaining business infrastructure, maximising revenue and effectively managing operating expenses while exploring growth opportunities Greater P&L accountability for Country Heads • Maintain affiliate networks • Continue to focus on deliver
Slide 21: Capital Management
Capital Management Company intends to return capital to shareholders in form of dividends and share buybacks while maintaining low leverage At 31 December 2023, GTN held cash balances of $23.6m with net debt after cash of $0.5M Debt facility extended to 22 December 2025 • Greater flexibility for
Slide 22: Additional financial information
Q&A 01 Insert divider title 3 A Insert divider title 7 Appendix A Additional financial information
Slide 23: Reconciliation of non-IFRS measurements back to IFRS
Reconciliation of non-IFRS measurements back to IFRS EBITDA, Adjusted EBITDA & NPATA Reconciliation of EBITDA, and Adjusted EBITDA to Profit before income tax ($m) (1) 1H FY2024 1H FY2023 Profit before income tax 5.3 5.4 Depreciation and amortisation 6.5 5.8 Finance costs 0.9 0.8 Interest on bank de
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