Aug 29, 2023 / 12:30AM GMT
Scott Cody - GTN Limited - COO and CFO
Thanks, Brianna, and thanks, everyone, for joining us this morning. I have with me Vic Lorusso, Chief Executive Officer of our largest operating division, the Australia Traffic Network. I will first read some brief prepared remarks, then we will open the phone lines for your questions.
FY23 was another year of solid progress and results. Group revenue increased 11% compared to FY22. This is our second consecutive year of double-digit revenue growth.
The revenue increase led to a 13% increase in adjusted EBITDA when compared to FY22. We define adjusted EBITDA as earnings before interest, taxes, depreciation, and amortization adjusted to include the non-cash interest income generated by the financing component of our long-term station affiliation agreement with Southern Cross Austereo and exclude transaction costs, foreign exchange gains and losses, refinancing losses, and gains on lease forgiveness.
We consider it appropriate to add the financing component of our long-term station affiliation agreement with Southern Cross Austereo to EBITDA
Full Year 2023 GTN Ltd Earnings Call Transcript
Aug 29, 2023
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