Half Year 2025 GTN Ltd Earnings Call Transcript
Key Points
- Gtn Ltd (ASX:GTN) reported a 2% growth in revenues and an 11% increase in net profit after tax to $4.9 million for the first half of fiscal year 2025.
- The company finished the period with a strong net cash position of $29.7 million as of February 17, 2025, after resolving delayed debtor collections.
- Australia remains the most profitable market for Gtn Ltd (ASX:GTN), showing minor revenue growth despite a challenging advertising environment.
- The UK market saw a significant revenue increase of 14%, contributing positively to the company's overall performance.
- Gtn Ltd (ASX:GTN) declared an interim dividend of $0.0247 per share, representing 100% of first-half FY25 net profit after tax, aligning with their dividend policy.
- Adjusted EBITDA decreased by 7% to $12.5 million, impacted by $1.45 million in costs related to an off-market takeover bid and rebranding efforts.
- Brazil's revenue declined by 6% in Australian dollars due to a 17% devaluation of the Brazilian real, despite local currency growth.
- Canada experienced a 3% revenue decline in local currency, reflecting challenges in the radio market.
- The company's adjusted EBITDA was negatively affected by non-recurring costs, which, if excluded, would have shown a 4% growth.
- Currency movements negatively impacted revenue from Brazil and Canada, affecting overall financial performance.
Thank you, and good morning or good afternoon, everyone, and thank you for joining us for our overview of GTN's performance in the first half of the 2025 fiscal year.
We're very proud to report another solid financial performance this half as the business transitioned to having new majority shareholdings and a new Board composition. And just on that note, I'd like to welcome Rob Martino, Jason Korman and Bill Brown to our Board as Non-Independent, Non-Executive Directors. Personally, I'm very confident that each of them has a unique contribution to make for GTN's ongoing success.
In the first half of fiscal year 2025, we delivered a 2% growth in revenues and an 11% increase in net profit after tax to $4.9 million. We finished the year with net cash of $14.5 million before lease liabilities of $2.9 million. Our cash balance in this period was affected by an increase in working capital of $11.8 million, which was predominantly due to delayed debtors collections in the UK and Canada. And on that note, I'm pleased that
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