• Returned $43.9 million (23 cents per share) to shareholders via a return of capital
• Declared an interim dividend of $0.01 per share (unfranked)
• Recognised a non-cash impairment charge of $41.5 million due to revised financial forecasts and macro-economic conditions

GTN Limited (ASX: GTN) announced its half-year results for the period ended 31 December 2025. The company, one of the largest broadcast media advertising platforms by audience reach in Australia, Brazil, Canada and the United Kingdom, reported a 15% decline in revenue to $82.5 million and a 53% decline in Adjusted EBITDA to $5.8 million, compared to the prior corresponding period. This was largely due to significant market pressures, particularly in the first quarter. During the period, GTN returned $43.9 million (23 cents per share) to shareholders via a return of capital, providing shareholders with a source of liquidity and introducing modest net leverage. The company's balance sheet remains robust, with cash on hand increasing to $28.1 million at 31 December 2025. Due to the strong balance sheet position, the Board has declared an interim dividend of $0.01 per share (unfranked). GTN also recognised a non-cash impairment charge of $41.5 million in relation to two of its Cash Generating Units, Australia and United Kingdom, reflecting a revision to near-term financial forecasts and unanticipated macro-economic conditions in those markets. The company is focused on three strategic priorities: strengthening core affiliate partnerships, delivering a compelling value proposition to advertising partners, and actively managing costs through the use of emerging technologies, including AI. With the recent appointment of Vic Lorusso as GTN CEO and the experienced country leadership teams, the company is well-positioned to capitalise on opportunities and deliver improved shareholder value.

The company expects to deliver $12-$17 million in cost-out initiatives and a $5 million capital proceeds benefit in H2 FY26.