Highlights

  • GTN expects to pay an FY26 final dividend of approximately AUD 10 million, equivalent to around AUD 0.05 per share, subject to bank consent.
  • FY26 Group revenue is expected to be between AUD 150 million and AUD 155 million.
  • Adjusted EBITDA for FY26 is forecast in the range of AUD 8 million to AUD 10 million.
  • The company expects closing cash of AUD 28 million to AUD 32 million and net debt of AUD 3 million to AUD 7 million at 30 June 2026.
  • GTN forecasts FY27 Adjusted EBITDA of AUD 15 million to AUD 20 million, supported by cost reduction initiatives implemented during FY26.

GTN Limited (ASX:GTN) has provided an update on its expected FY26 financial performance, capital management plans and FY27 outlook, outlining a forecast improvement in earnings next financial year as recently implemented cost initiatives begin contributing to operating performance. The company also announced its intention to distribute an FY26 final dividend of approximately AUD 10 million, subject to bank consent and completion of its annual audit.

GTN shares were trading 11.43% higher at AUD 0.20 during the morning session on 25 June 2026. Despite today's gain, the stock remains down 68.55% over the past year.

GTN operates one of the largest broadcast media advertising platforms focused on traffic and information reports across Australia, the United Kingdom, Canada and Brazil. The company supplies traffic updates, news and information segments to radio stations and, in return, receives advertising inventory adjacent to those broadcasts. These advertising spots are then packaged and sold to advertisers across national, regional and local markets, allowing GTN to reach broad radio audiences during peak listening periods.

Board Intends to Return AUD 10 Million Through Final Dividend

As part of its capital management update, GTN said its Board currently expects to pay a final FY26 dividend of approximately AUD 10 million, equating to roughly AUD 0.05 per share.

Based on the current share price, the company noted that the proposed dividend represents an indicative yield of around 29%.

The final payment remains subject to bank consent. Confirmation of the dividend amount, together with record and payment dates, will be announced following completion of the FY26 audit and release of the company's full-year financial results.

Looking ahead, the Board also stated that it currently intends to distribute 100% of Net Profit After Tax (NPAT) to shareholders during FY27, consistent with its capital management approach.

The company noted that future distributions remain subject to financial performance, bank approval, completion of the annual audit and other relevant factors, with the Board retaining discretion regarding dividend payments.

FY26 Revenue Expected Below Prior Year

GTN provided preliminary earnings guidance for the financial year ending 30 June 2026.

The company expects Group revenue to be between AUD 150 million and AUD 155 million.

This compares with revenue of AUD 180.2 million reported for FY25, representing a decline of between 17% to 14% year on year.

Management said the anticipated revenue performance is broadly consistent with trading trends experienced during the first half of FY26, when revenue declined by approximately 15% compared with the corresponding period.

Adjusted EBITDA Reflects Challenging Trading Conditions

Adjusted EBITDA for FY26 is expected to be in the range of AUD 8 million to AUD 10 million.

In comparison, GTN reported Adjusted EBITDA of AUD 16.6 million during FY25.

The forecast therefore represents a decline of approximately 52% to 40% compared with the previous financial year.

According to the company, the expected result reflects challenging trading conditions experienced across its operating markets throughout FY26.

GTN also clarified that its Adjusted EBITDA measure includes non-cash interest income associated with the Southern Cross Austereo Affiliate Contract while excluding transaction costs, foreign exchange gains and losses, gains or losses on asset disposals, lease forgiveness gains and refinancing losses.

Improved Balance Sheet Despite Shareholder Returns

Alongside its earnings update, GTN outlined expectations for its financial position at the end of FY26.

Closing cash is forecast to be between AUD 28 million and AUD 32 million before payment of the proposed final dividend.

This compares with cash holdings of AUD 21.1 million as at 30 June 2025.

Net debt, excluding capital leases, is expected to be in the range of AUD 3 million to AUD 7 million at 30 June 2026, which the company described as modest gearing.

GTN highlighted that this balance sheet position has been achieved despite returning AUD 45.8 million to shareholders through the capital return completed in August 2025 and the interim dividend paid in March 2026.

Management said the improvement reflects positive operating cash flow, a stronger working capital position and proceeds received from the sale of aviation assets, consistent with information previously disclosed in its first-half FY26 results.

Cost Reduction Program Expected to Benefit FY27

The company's outlook for FY27 centres on benefits expected from cost reduction initiatives introduced during FY26.

GTN said these measures have progressed in line with plans previously outlined when first-half results were released.

Management expects these initiatives to provide incremental financial benefits throughout FY27.

As a result, the company is forecasting Adjusted EBITDA of between AUD 15 million and AUD 20 million for FY27.

Compared with the FY26 forecast range of AUD 8 million to AUD 10 million, the outlook points to an improvement in operating earnings, assuming trading conditions remain broadly consistent with current expectations.

The company also indicated that, unless there is a material deviation from current forecasts, it does not intend to provide another guidance update before releasing its Appendix 4E and full-year FY26 results.

Forecasts Remain Subject to Several Factors

GTN noted that its financial expectations remain subject to several variables.

These include foreign exchange movements, actual revenue and expense outcomes, completion of the annual audit and bank consent relating to the proposed dividend.

The Board also retains discretion to amend its capital management intentions if circumstances change.

Business Continues to Operate Across Four Major Advertising Markets

GTN has built its business by providing traffic and information reports to radio stations across Australia, the United Kingdom, Canada and Brazil.

These countries represent four of the world's ten largest advertising markets.

The company packages advertising inventory received from broadcasting partners and sells those advertising opportunities to customers seeking national or regional audience reach.

Because advertisements are broadcast adjacent to traffic, news and information reports, many are delivered during high-listener periods and are often read by well-known radio and television personalities.

This business model enables GTN to provide advertisers with access to broad audience reach across multiple markets.

What This Means for Investors

GTN's latest update provides investors with greater visibility over its expected FY26 financial performance while outlining management's expectations for FY27. Although FY26 revenue and Adjusted EBITDA are forecast to be below the previous year's levels, the company expects recently implemented cost initiatives to contribute to higher Adjusted EBITDA during FY27. At the same time, GTN has outlined plans for a final FY26 dividend of approximately AUD 10 million and expects to finish FY26 with higher cash balances and modest net debt despite significant shareholder returns during the year.