The Group’s financial highlights for the period were in line with expectations, showcasing growth in ITV Studios and digital revenue within the Media & Entertainment (M&E) segment. Although total external revenue experienced a slight decline of 2% at £1,639 million, the growth in ITV Studios and digital revenues effectively countered the drop in linear advertising revenues. ITV Studios revenue witnessed a significant upswing of 8% to £1,000 million, primarily driven by strong performance in the UK. However, M&E revenue saw a 9% decrease at £964 million, mainly due to an 11% decline in total advertising revenue (TAR) as previously guided. Nonetheless, digital advertising revenue within this segment showed remarkable growth, rising by 24% to £179 million. Despite the challenging advertising market and planned investment in ITVX, the Group’s adjusted EBITA was down 52% at £152 million, as anticipated, and adjusted EPS experienced a decrease of 62% at 2.3p. The reported EBITA stood at £133 million, and statutory profit before tax was £45 million, while statutory EPS reached 1.0p. Despite these challenges, the Board declared an interim dividend of 1.7p and reaffirmed its commitment to paying a total dividend of at least 5p for the full year, with expectations of further growth over time.
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ITV PLC, July 27th 2023
Date de publication :27/07/2023