Rebalanced ITV Delivers Continued Growth
Rebalanced ITV delivers continued growth Full year results for the year ended 31st December 2016 Revenue growth driven by double-digit increase in non-NAR • Total external revenue up 3% to £3,064m (2015: £2,972m), including currency benefit • Total non-NAR revenue up 11% to £1,855m (2015: £1,664m), now 53% of total revenues • Total ITV Studios revenue up 13% to £1,395m (2015: £1,237m) • Online, Pay & Interactive revenue up 23% to £231m (2015: £188m) • Net Advertising revenue down 3% to £1,672m (2015: £1,719m), performing ahead of the TV ad market Rebalanced business delivering adjusted profit growth • Adjusted EBITA up 2% to £885m (2015: £865m), despite the decline in the ad market • Studios adjusted EBITA up 18% to £243m (2015: £206m) • Broadcast & Online adjusted EBITA down 3% to £642m (2015: £659m) • Adjusted EPS up 3% to 17.0p (2015: £16.5p) • Statutory EPS down 10% to 11.2p (2015: 12.4p) impacted by restructuring and earnout costs Confident in the underlying strength of the business • Broadcast business remains robust: Main channel SOV up 3%, online viewing up 42% • ITV Studios has a healthy pipeline of new and returning programmes • Building our digital business in Studios and Broadcast Strong balance sheet, healthy liquidity • Flexibility and capacity to continue to invest across the business and deliver sustainable returns to our shareholders • Given our good performance the Board is proposing a final dividend of 4.8p, giving a full year dividend of 7.2p, up 20%, in line with our policy • Reflecting ITV’s strong cash generation and the Board’s confidence in the business, the Board is proposing a special dividend of 5.0p per share, worth just over £200 million • The Board is committed to a long term sustainable dividend policy.
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