Gtn Ltd. · ASX:GTN
Gtn — Shareholder Meeting (November 2019)
25 slides from Gtn's shareholder meeting presentation, Nov 14, 2019
Slide 1: GTN Limited AGM Presentation
GTN Limited AGM Presentation November 2019
Slide 2: Contents
Contents 01 Chairman’s Address – Robert Loewenthal 4 02 CEO’s address – Bill Yde 5 03 Formal Business – Robert Loewenthal 16
Slide 3: Today's presenters
Today’s presenters Robert Loewenthal (Chairman) Bill Yde (Managing Director and CEO) 2
Slide 4: Our Board of Directors
Our Board of Directors Robert Loewenthal William Yde III (“Bill”) David Ryan AO Corinna Keller Chairman Managing Director and CEO Director Director — Over 10 years of experience in the — Over 35 years of experience in the — Over 40 years of experience in — Vice President of Advertising Sales radio i
Slide 5: Chairman's Address – Robert Loewenthal
Section 01 Chairman’s Address – Robert Loewenthal
Slide 6: CEO's address – Bill Yde
Section 02 CEO’s address – Bill Yde
Slide 7: FY2019 recap – Results Overview
FY2019 recap – Results Overview GTN’s FY19 revenue from continuing operations unchanged compared to FY18 Overview FY19 revenue underpinned by growth in all non-Australia markets — All non-Australian markets reported revenue increase over FY18 in both local A$m(5) FY19(1) FY18(1) % Difference curre
Slide 8: FY2019 recap – Statement of Financial Position
FY2019 recap – Statement of Financial 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 (30 June 2019 & 30 June 2018) 30 June 2019 30 June 2018 Current Assets Cash and cash equivalents $’000 50
Slide 9: FY2019 recap – KPIs
FY2019 recap – KPIs GTN’s FY19 revenue result was underpinned by solid inventory acquisition across its four operating geographies. GTN operational KPIs (by geographic segment) FY2019 Actual FY2018 Actual vs. FY2018 Australia (ATN) Radio spots inventory ('000s)(1) 1,032 958 7.7% Radio sell-out rate
Slide 10: Trading update – Revenue performance by segment through 1Q FY20
Trading update – Revenue performance by segment through 1Q FY20 Revenue from continuing operations decreased 4.9%, primarily due to a 13.8% decrease in Australian revenues. Non-Australian revenues increased 4.9% as revenue from outside Australia exceeds Australian revenue for the first time. Revenue
Slide 11: Trading update – Revenue performance by segment through 1Q FY20 in local currency
Trading update – Revenue performance by segment through 1Q FY20 in local currency GTN revenue outside of Australia increased on average 5.9% (unweighted) compared with 1Q FY19 in local currency ATN revenue (A$m) CTN revenue (CAD$m) 24.1 7.3 20.8 6.7 YTD Sept 18 YTD Sept 19 YTD Sept 18 YTD Sept 19 UK
Slide 12: Significant revenue growth outside of Australia over past two fiscal first quarters
Significant revenue growth outside of Australia over past two fiscal first quarters GTN revenue from continuing operations increased 3.4% since 1Q FY2018 on a compounded basis, due to a 10.9% increase in non-Australian revenues. Revenue from continuing operations increased 12.5% in 1Q FY19 compared
Slide 13: Significant revenue growth outside of Australia in local currencies
Significant revenue growth outside of Australia over past two first quarters of fiscal year in local currencies as well GTN revenue outside of Australia increased on average 10.5% compound basis (unweighted) from 1Q FY18 to 1Q FY20 in local currency ATN revenue (A$m) CTN revenue (CAD$m) 22.2 6.7 20.
Slide 14: Revenue & Adjusted EBITDA From Continuing Operations: FY2013 - FY2019
Revenue & Adjusted EBITDA From Continuing Operations: FY 2013 - FY 2019 Strong annual revenue and EBITDA growth since listing 6.7% CAGR on revenue basis, 13.5% CAGR on an Adjusted EBITDA basis since FY13 Revenue Adjusted EBITDA 185,013 184,969 177,289 48,856 48,061 166,136 0.0% 153,484 37,549 34,646
Slide 15: Brazil - Curitiba market opened in September 2019
Brazil - Curitiba market opened in September 2019 6 radio station affiliates in initial network Metropolitan area population ~3.6 million 8th market in Brazil and fifth new market since FY 2018 — Porto Alegre, Salvador, Campinas, Brasilia & Curitiba 14
Slide 16: GTN outlook for 1H FY20
GTN outlook for 1H FY20 Expect improvement over 1Q FY20 performance Revenue decreased 4.9% in 1Q FY20 compared to 1Q FY19. All of the decline related to July and August. —Revenue from continuing operations increased 12.5% in 1Q FY19 compared to 1Q FY18 To date, 2Q FY20 bookings have been trackin
Slide 17: Formal Business – Robert Loewenthal
Section 03 Formal Business – Robert Loewenthal
Slide 18: 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 2019. 17
Slide 19: Questions and Comments
Questions and Comments SCHESSHHHEEHEHSHEHHEEHEHHHHHOHEHHSHHEHSHSHHEHHESHEHHHHOHSHSEHHEOHHHHOHEHOHSEHEEOHEOEEE
Slide 20: Resolution 1 – Election of Director – Corinna Keller
Resolution 1 – 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 10.3b(iv) of the Company’s Constitution and being eligible for election, is elected as a Dire
Slide 21: 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 2019, as set out in the Directors’ Report, is adopted.” Proxies have been received
Slide 22: 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 up to 4,50
Slide 23: Appendix A – Reconciliation of financial information
Appendix A Reconciliation of financial information
Slide 24: 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 amortizati
Slide 25: 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