• Revenue $96.7 million, +2% on 1H FY24
• NPAT $4.9 million, +11% on 1H FY24
• Adjusted EBITDA $12.5 million, -7% on 1H FY24

GTN Limited (ASX: GTN) announced its results for the half year ended 31 December 2024. The company reported revenue of $96.7 million, up 2% on the prior corresponding period. NPAT increased 11% to $4.9 million, while NPATA improved 7% to $7.1 million. Adjusted EBITDA decreased 7% to $12.5 million, reflecting one-off costs of $1.45 million related to the Viburnum off-market takeover bid and the extensive rebranding of the ATN business. Australia, GTN's largest and most profitable market, maintained stable revenue compared to 1H FY24, though Adjusted EBITDA declined to $9.8 million due to strategic investments in premium inventory. The UK market was a standout, with revenue growing 13.7% (11.8% in local currency) and Adjusted EBITDA increasing 36%. The company's financial position remains strong, with net cash of $14.5 million as of 31 December 2024, which has since increased to $29.7 million as of 17th February 2025. GTN returned capital to shareholders through a $1.9 million share buyback and a $3.4 million final FY24 dividend, while also reducing debt by a further $7 million.

GTN remains focused on its core advertiser base while implementing cost optimisation initiatives to enhance future performance. January 2025 revenue tracked ahead of the prior corresponding period, though the short-term nature of the sales cycle limits revenue visibility for the remainder of FY25.