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GTN GTN Limited results for the half - year ended 31 December 2020 Overview : • Revenue $ 70.8 million , ( 26 ) % on 1H FY20 NPAT $ 0.4 million , ( 95 ) % on 1H FY20 Adjusted EBITDA¹ $ 7.1 million , ( 60 ) % on 1H FY20 Strong liquidity position with net debt ( after cash ) of $ 15.3 million including cash balances of $ 48.5 million _ Sydney , 25 February 2021 – GTN Limited ( ASX : GTN ) ( Company or GTN ) , one of the largest broadcast media advertising platforms by audience reach in Australia , Brazil , Canada and the United Kingdom today announced its results for the half - year ended 31 December 2020 . Overview of 1H FY21 results ( m ) ² Revenue EBITDA4 Adjusted EBITDA¹ NPAT NPATA³ NPATA per share 1H FY21 1H FY20 % Difference 70.8 95.7 ( 26.0 ) % 3.1 13.8 ( 77.4 ) % 7.1 18.0 ( 60.4 ) % 0.4 7.6 ( 95.2 ) % 2.6 9.9 ( 73.4 ) % $ 0.012 $ 0.044 ( 72.4 ) % CEO Comment Commenting on the results , William L. Yde III , Managing Director and Chief Executive Officer of GTN , said " While revenue remains impacted by the ongoing COVID - 19 pandemic , all of our markets performed much better in 1H FY21 when compared to the start of the pandemic in 4Q FY20 . All four markets were EBITDA positive in 1H FY 21 and all four markets showed substantial revenue increases from Q1 to Q2 FY21 . It was encouraging to see consecutive quarters of sequential improvement . Revenue from our Australian operations had been lagging the overall Group during much of the COVID period , which we attribute to the related lockdown of the Melbourne market for the majority of the half- year period . Melbourne is one of our key markets for revenue generation . Australian revenue increased ¹Adjusted EBITDA is defined as EBITDA adjusted to include the non - cash interest income related to the long - term prepaid affiliation agreement with Southern Cross Austereo which is treated as a financing transaction , and exclude transaction costs , foreign exchange gains / losses , gains on lease forgiveness and losses on refinancing . 2 Amounts in tables may not add due to rounding . Percentage change based on actual amounts prior to rounding . 3 NPATA is defined as net profit after tax adjusted for the tax effected amortization arising from acquisition related intangible assets . * EBITDA is defined as net profit after tax ( earnings ) before the deduction of interest expense / income , income taxes , depreciation and amortization .