• Revenue and Adjusted EBITDA impacted by one-off costs and subdued macro-environment
• Strong liquidity position with net cash of $21.1m at FY25 end
• Shareholder returns include 48% share price improvement and 9%+ dividend yield

GTN Ltd has released its 2025 AGM presentation, providing an overview of the company's performance and key developments. The company's revenue in FY25 decreased 2% compared to FY24, impacted by lower sell-out ratios across its operations in Australia, Brazil, and Canada. However, the company saw higher average radio spot rates, with a 4.3% increase in Australia, 9.4% in Brazil, and a 4.4% decline in Canada. The company's Adjusted EBITDA in FY25 was $16.6m, down 26% from FY24, due to one-off costs for corporate activity, marketing rebranding, and recurring affiliate inventory costs. Despite the challenges, GTN maintained a strong liquidity position, with net cash of $21.1m at the end of FY25, prior to a $44m capital return to shareholders. The company also reported solid shareholder returns, with a 48% improvement in share price and a 9%+ dividend yield during FY25. Looking ahead, GTN is conducting strategic and operational reviews of its affiliate networks and evaluating the aviation businesses, with the aim of delivering over $10m in annualized cost savings.

GTN Ltd reported revenue of $180.2m in FY25, a 2% decrease compared to FY24. Adjusted EBITDA was $16.6m, down 26% from FY24. NPATA (before impairment and DTA) was $8.7m, a 15% decline from the previous year.

GTN Ltd is focused on ensuring the right commercial balance for its affiliate network partnerships while maintaining strong relationships with its affiliates. The company is also evaluating its aviation businesses, with the aim of removing costs while still maintaining its proposition to its audience. These initiatives are expected to deliver over $10m in annualized cost savings.