Slide 1: FY20 Results Presentation
GTN Limited FY20 Results Presentation 27 August 2020
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 05 Update on trading 17 A Additional financial information 19
Slide 4: Overview
Section 01 Overview
Slide 5: Overview
Overview GTN’s FY20 revenue decreased 13% compared to FY19 due to COVID-19 pandemic which had significant impact on profitability due to the Group’s fixed cost structure Key Highlights ⚫ FY20 revenue decreased across all markets due to COVID-19 pandemic — Revenue to date through 3Q FY20 up 2% despit
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 FY2020 Revenue A$m 79.0 27.0 42.6 12.4 FY2019 Revenue A$m 93.9 33.2 45.2 12.6 FY20 vs FY19 (15.9)% (18.8)% (5.9)% (1.6)%
Slide 7: Group financial performance
Section 02 Group financial performance
Slide 8: Key drivers of financial performance
Key drivers of financial performance GTN revenue declined 13% due to COVID-19 pandemic. While operating expenses were lower the reduction was not sufficient to maintain Adjusted EBITDA and NPATA. Commentary GTN Group revenue ⚫ Revenue decrease driven primarily by impact of COVID-19 pandemic GTN — YT
Slide 9: Strong liquidity position
Strong liquidity position Net debt (debt less cash balances) of $7.4 million. Total Gearing to Adjusted EBITDA of 0.52x. Historical balance sheet Summary cash flow 30 June 2020 30 June 2019 Current Assets $’000 $’000 Cash and cash equivalents 57,040 50,728 Trade and other receivables 19,910 38,091 F
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 including impact of COVID-19 pandemic ATN revenue performance Commentary ⚫ ATN revenue declined by 15.9% primarily due to weak fourth quarter performance related to COVID-19 pandemic — Revenue to date through 3Q FY20 down 4% related to dif
Slide 12: CTN
CTN CTN revenue very soft for beginning of fiscal year and 4Q FY20 while showing solid growth in between CTN revenue performance (AUD) CTN revenue performance (CAD) 33.2 31.4 27.0 24.3 FY19 FY20 FY19 FY20 Commentary ⚫ CTN revenue decreased in both AUD and CAD due to COVID-19 pandemic CTN KPIs — YTD
Slide 13: UKTN
UKTN UKTN solid revenue performance in both GBP and AUD prior to COVID-19 pandemic UKTN revenue performance (AUD) UKTN revenue performance (GBP) 45.2 25.0 42.6 22.7 FY19 FY20 FY19 FY20 UKTN KPIs Commentary ⚫ UKTN revenue decreased primarily due to COVID-19 pandemic FY20 FY19 % chg — YTD 3Q FY20 reve
Slide 14: BTN
BTN BTN managed revenue growth of 6% in local currency which was more than offset by unfavourable currency fluctuations BTN revenue performance (AUD) BTN revenue performance (BRL) 36.9 34.9 12.6 12.4 FY19 FY20 FY19 FY20 Commentary ⚫ Revenue performance driven by outstanding first nine months of FY 2
Slide 15: Update on growth strategy
Section 04 Update on growth strategy
Slide 16: GTN growth strategy
GTN growth strategy Management is focused on reducing expenses and conserving cash while maintaining business infrastructure ⚫ Maintain affiliate networks and sales management and staffs —We believe that continuing to have a strong product is key to maximizing revenue in current environment —Also is
Slide 17: Capital Management
Capital Management Primary focus is to conserve cash as it is not possible to predict when the COVID-19 pandemic will end nor when revenue will return to pre-COVID-19 pandemic levels ⚫ On-market share buyback limited by both cash conservation and bank facility —While share buyback is still in place
Slide 18: Update on trading
Section 05 Update on trading
Slide 19: GTN Trading Update – July & August 2020
GTN Trading Update – July & August 2020 To date, revenue for July and August have out performed 4Q FY20 performance ⚫ July 2020 revenue decreased sharply compared to July 2019 —However, July 2020 revenue on a percentage basis was an improvement over 4Q FY20 (which decreased 57%) —While revenue decre
Slide 20: Additional financial information
Appendix A Additional financial information
Slide 21: 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) FY2020 FY2019 Profit (loss) before income tax (0.6) 22.9 Depreciation and amortization 11.8 11.2 Finance costs 2.9 3.6 Interes
Slide 22: 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