GTN (GTN) investor relations material

Executive summary

• FY26 was marked by significant market disruption, but the business emerged leaner, more focused, and better positioned for future growth, operating one of the largest broadcast media advertising platforms with a weekly reach of over 91 million consumers across four of the world's top ten ad markets.

• Differentiated by peak-time advertising, bundled inventory, and long-term affiliate agreements, ensuring durable access and stable cash flows.

• Strategic exit from aviation and renegotiation of affiliate agreements have driven substantial cost savings and operational efficiencies, supporting a transition to an asset-light model.

• Over AUD 67 million (or ~$67 million) has been returned to shareholders in the past two years through dividends, capital returns, and buybacks, with the Board maintaining a focus on ongoing high dividend yields.

• Board intends to continue returning capital to shareholders in the absence of compelling investment opportunities, subject to prudent balance sheet management.

Financial highlights

• FY26 group net revenue was AUD 156 million (or $156.0 million), down 13.4% year-over-year; adjusted EBITDA was AUD 13 million (or $13.0 million), down 21.8%, both ahead of guidance.

• Net cash from operating activities was approximately AUD 22 million (or $22 million), up 69% from FY25, aided by a AUD 10 million working capital benefit.

• Cash on hand rose to AUD 33 million (or ~$33 million) at year-end, with net debt reduced to AUD 2 million (or ~$2 million) despite significant shareholder returns.

• Second half EBITDA improved over 20% sequentially from the first half, reflecting realized cost actions and strong performance in Brazil.

• Total capital returned over the past two years was AUD 67 million (or ~$67 million), compared to a ~$40 million enterprise value.

Outlook and guidance

• FY27 adjusted EBITDA guidance is AUD 15 million–AUD 20 million (or $15–$20 million), translating to NPATA of AUD 5 million–AUD 10 million (or $5–$10 million).

• 100% of NPATA is expected to be distributed as dividends, implying a 13%–26% yield based on current market capitalization.

• Full-year impact of cost initiatives and new affiliate partnerships will benefit FY27 results.