GTN revenue falls 13.4% as write-offs spark loss
- GTN recorded a statutory net loss of $37.2 million after non-cash accounting write-offs across key markets.
- Full-year revenue declined 13.4% and EBITDA dropped 21.8% as three of the company's four global markets contracted year-on-year.
- Management plans to return 100% of NPATA profits to shareholders in FY27 while targeting $15 million to $20 million in EBITDA.
GTN (ASX:GTN) recorded a statutory net loss of $37.2 million for FY26 following a 13.4% fall in revenue.
The negative result was driven by A$41.5 million in non-cash accounting write-offs across Australian and UK operations due to broader radio advertising weakness.
"Canada’s had a very tough few years from a market perspective," said GTN Chair Peter Tonagh.
Management stated that Brazil provided a bright spot with revenue rising 12.9%, while the business expects to generate between $15 million and $20 million in EBITDA during FY27.
The company expects to return 100% of NPATA profits to shareholders in the current financial year while it conducts an operational review of its UK business.
Following the announcement, the GTN share price was unchanged at $0.40.
The media supplier provides localised traffic reports to broadcast networks across Australia, the UK, Canada, and Brazil.
GTN has reduced operational risks and expenses by selling off its fleet of news-gathering helicopters and fixed-wing aircraft in favour of modern traffic data technologies.
