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ITV PLC ITV Interim Management Statement

  ITV PLC (ITV) - Interim Management Statement

RNS Number : 9346Q
ITV PLC
13 November 2012




13th November 2012



ITV plc

Interim Management Statement

Transformation Plan drives continued growth at ITV



· Total external revenues up 4% to £1,573m (2011: £1,515m)

· Non-NAR revenues up 15% at £730m (2011: £633m) driven by ITV Studios

· ITV Studios is trading strongly with total revenues up 20% to £498m
(2011: £416m)

· ITV Family NAR flat over the first nine months ahead of the TV ad
market

· ITV Family SOV down 3%, with digital channels up 3% for the ten months
to end of October

· Positive net cash position of £90m

· Total cost savings will be around £30m in 2012 - £10m ahead of original
target

· ITV Family NAR is forecast to be broadly flat over the full year, again
outperforming the TV advertising market



Adam Crozier, ITV plc Chief Executive, said



"We have made further progress in reshaping and rebalancing ITV to ensure the
business is more robust both commercially and creatively. The momentum we are
building in our non-NAR revenues has helped grow group revenues up 4% to
£1,573m in difficult economic conditions and with a broadly flat television
advertising market.



"ITV Studios has performed strongly as our strategy of investing in the
creative pipeline and talent again shows through in our results. We expect
ITV Studios to report over £100m of profit in 2012, and the number of new
commissions and recommissions already secured for 2013 gives us confidence
that there will continue to be good underlying growth in the Studios
business.



"This has been an extraordinary year for UK television with many unique events
including the Queen's Jubilee, The London Olympics and the Paralympics. In
fact 9 out of the top 10 programmes aired will not return next year and as we
expected this has affected our viewing performance. However, we do not expect
our viewing performance in 2012 to impact our advertising share in 2013 and we
are focussed on growing our share of viewing next year.



"We have maintained our focus on cash and costs. Our financial position is
strong with positive net cash of £90m and we will deliver around £30m of cost
savings this year, £10m ahead of our original target.



"The economic outlook remains uncertain and we continue to see monthly
volatility in the UK television advertising market, but the underlying trends
have not changed. Over the full year we expect ITV Family NAR to be broadly
flat and that we will again outperform the television advertising market."









                                     ENDS

                                      

                                      

NOTES TO EDITORS



1.Unless otherwise stated, all figures refer to the nine month period ending
30^th September, with growth compared to the same period in 2011.



2.

Revenues for 9 months to 30^th September (£m)
                              2012   2011   %
ITV Broadcasting & Online    1,309  1,291   1
ITV Studios                    498    416  20
Total Revenue                1,807  1,707   6
Internal Supply              (234)  (192)  22
Total External Revenue       1,573  1,515   4



Revenues for 9 months to 30 September (£m)
                           2012   2011   %
ITV Family NAR            1,077  1,074   -
Non-NAR Revenue             730    633  15
Internal Supply           (234)  (192)  22
Total External Revenue    1,573  1,515   4



3.Figures for ITV plc and market NAR are based on ITV estimates.



ITV Family NAR was down 10% in July, down 9% in August and down 1% in
September. Overall Q3 was down 6%, which is in line with our expectations and
once again ahead of the market. This still leaves the first nine months in
positive territory.



The estimate for ITV Family NAR to be broadly flat over the full year assumes
that ITV Family NAR is down around 2% in Q4, down 2% in October, down around
2% in November and December broadly flat.



4.

Broadcasting and Online performance indicators
                                                                2012  2011   %
ITV Family share of viewing - year to 30 October                22.2  22.9 (3)
ITV1 share of viewing - year to 30 October                      15.6  16.5 (6)
ITV Family adult SOCI - year to 30 October                      38.2  39.4 (3)
ITV1 adult SOCI - year to 30 October                            26.3  27.9 (6)
ITV1 adult impacts - year to 30 October                        192bn 204bn (6)
Online & On Demand long form video requests (all platforms) -   321m  262m  23
9 months to 30 September

Share of viewing data based on BARB/AdvantEdge data and share of commercial
impact (SOCI) data based on BARB/DDS data. Share of viewing data is for
individuals and SOCI data is for adults. ITV Family includes: ITV1, ITV2,
ITV3, ITV4, CITV, ITV1 Breakfast, CITV Breakfast and associated "HD" and "+1"
channels. ITV1 includes HD, +1 and Breakfast.

Total video requests across all platforms for Online & On Demand are based on
data from ComScore Digital Analytix, Virgin, BT, iTunes, Lovefilm, Netflix,
Sky, 3UK and Hospedia.

5. At the 2012 interim results, ITV grouped online, pay and interactive
revenues together within Broadcasting & Online non-NAR revenues.The 2011
full year equivalent was £81m.

For the 9 months to the end of September 2012, online, pay and interactive
revenues were growing at around 20%.



6. On 8 October ITV plc announced that it had acquired the Finish Independent
producer Tarinatalo and on 30 August ITV plc announced that it had acquired
the UK independent production company SO Television.



7. On 22 October ITV plc announced that Roger Faxon will join the Board as a
non-executive director with effect from 31 October 2012.



8. Figures presented in this interim management statement are not
audited.This announcement contains certain statements that are or may be
forward-looking with respect to the financial condition, results or operations
and business of ITV.By their nature forward-looking statements involve risk
and uncertainty because they relate to events and depend on circumstances that
will occur in the future.There are a number of factors that could cause
actual results and developments to differ materially from those expressed or
implied by such forward-looking statements.These factors include, but are
not limited to (i) a major deterioration in the current outlook for UK
advertising and consumer demand, (ii) significant change in regulation or
legislation, (iii) failure to identify and obtain, or significant loss of,
optimal programme rights, and (iv) the loss or failure of transmission
facilities or core systems.



For further enquiries please contact:



Investor Relations

Pippa Foulds  020 7157 6555 or 07778 031097



Media Relations

Mary Fagan 020 7157 3965 or 07736 786448

Mike Large 020 7157 3021 or 07768 261528

Caroline Cook 020 7157 3709 or 07799 071509



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSQLLFFLFFEFBK -0- Nov/13/2012 07:00 GMT
 
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