GTN (GTN) H1 2026 earnings summary

Executive summary

• Revenue for the half-year ended 31 December 2025 declined 14.7% year-over-year to AUD 82.5 million, with all segments except Brazil experiencing local currency revenue decreases.

• The first half of FY26 was challenging, with tough market conditions and a reset of business strategy to address ongoing pressures.

• Net loss attributable to members was AUD 40.9 million, compared to a profit of AUD 4.9 million in the prior period, driven by a AUD 41.5 million impairment charge.

• Decisive actions were taken on cost management, affiliate arrangements, and market approach to position for future growth.

• Leadership remains confident in the direction and execution of the new plan, with strong board and shareholder alignment.

Financial highlights

• Revenue for the half was AUD 82.5 million, down 14.7% year-over-year, with Australia contributing 47% of group revenue.

• Adjusted EBITDA was AUD 5.8 million, a 53% decline compared to the prior corresponding period.

• Non-cash impairment charge of AUD 41.5 million recognized for Australian and UK businesses.

• Cash on hand increased to AUD 28.1 million at 31 December, up from AUD 21.1 million at 30 June.

• Net operating cash flow improved to AUD 16.5 million from negative AUD 2.8 million year-over-year.

Capital allocation and financing

• AUD 43.9 million (AUD 0.23 per share) returned to shareholders via capital return in August 2025, funded by a full drawdown of a AUD 35 million debt facility and operating cash surplus.

• Net debt at period end was AUD 10.2 million, with a AUD 5 million undrawn overdraft facility.

• Interim dividend of AUD 0.01 per share, unfranked, declared for the half.

• Board remains committed to further shareholder returns as conditions allow.