Full Year 2024 GTN Ltd Earnings Call Transcript
Key Points
- Gtn Ltd (ASX:GTN) reported a 4% growth in revenues to $184 million for the fiscal year 2024.
- Adjusted EBITDA increased by 15% to $22.3 million, indicating improved operational efficiency.
- Net Profit After Tax (NPAT) saw a significant increase of 115% to $5.7 million.
- The company finished the year with a strong balance sheet, holding $23.6 million in net cash before lease liabilities.
- Brazilian market revenue grew by 42%, showcasing strong international performance.
- Revenue in the Canadian market decreased by 10.7%, reflecting challenges in that region.
- Australia, the largest market, experienced a 3% decline in revenue compared to FY '23.
- The drone business incurred a $1.7 million EBITDA loss, leading to strategic changes and cost reductions.
- The company faced $2.1 million in one-off costs related to the transition of the previous leadership team.
- Future results are highly dependent on economic conditions, adding an element of uncertainty.
Thank you. Good morning, everyone, and thank you for joining us for our overview of GTN's performance in the 2024 fiscal year. We're really proud to report a very solid financial performance for the year while also resetting the business for the future. We delivered a 4% growth in revenues, a 15% increase in adjusted EBITDA, a 115% increase in NPAT. And very importantly, we finished the year with net cash of $23.6 million before lease liabilities of $3.6 million.
Most importantly, we delivered this result while finalizing our transition to a new executive team, resetting the cost base and extending a number of key affiliate agreements. Brent will take us through a bit more detail on each market and on the full year performance, but I do want to focus on a few highlights. As I mentioned, total revenue grew overall by 4% to $184 million, while adjusted EBITDA, our primary measure of performance, grew by 15% to $22.3 million, and NPAT increased by 115% to $5.7 million. If we were to remove the $2.1 million of costs of transitioning to our new team,
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