Interim Management Statement

RNS Number : 2235W

ITV PLC

16 November 2010

 



16 November 2010

ITV plc Interim Management Statement

·     Group revenues up 11% to £1,456m (2009: £1,312m), driven by the strong television advertising recovery

·     ITV television advertising revenues up 16% in Q3 and currently forecast to be up 10% in Q4

·     ITV Studios external revenues down 10% to £205m (2009: £229m), emphasising the need for creative renewal

·     With the continued focus on cash and costs, net debt has reduced to £366m at 30^th September (30^th June 2010: £437m). This does not include the £47m proceeds from the sale of Screenvision which were received in October 2010.

Adam Crozier, CEO of ITV, said

"The television advertising market has continued to recover strongly. However this does not disguise the significant challenges ITV faces and we remain focused on delivering the five-year Transformation Plan. 

"We are forging ahead with implementing our first phase priorities; we have launched HD versions of ITV2, ITV3 and ITV4 on the Sky platform, we have agreed a new three-year deal for both The X Factor and Britain's Got Talent and we have completed the sale of Screenvision.

"The economic outlook for 2011 is uncertain and we continue to plan on a cautious basis."

Notes:

1.   Unless otherwise stated, all figures refer to the nine month period ending 30^th September 2010, with growth compared to the same period in 2009.

2.  

Revenues for 9 months to 30th September 2010 (£m)
	2010	2009	%
ITV Broadcasting & Online	1,251	1,081	16
ITV Studios (external revenues)	205	229	(10)
Other	-	2	-
Total	1,456	1,312	11

      Note: ITV Studios internal revenues were £181m (£176m)

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

4.  

Broadcasting and Online performance indicators
	2010	2009	+/-
ITV family adult SOCI - year to 6th November (%)	39.3	39.6	(1)%
ITV1 adult SOCI - year to 6th November (%)	26.8	28.2	(5)%
ITV1 adult impacts - year to 6th November (bill)	192.0	191.3	-
ITV family share of viewing - year to 11th November %	22.6	22.9	(1)%
ITV1 share of viewing - year to 11th November %	15.7	16.5	(5)%
itv.com average monthly unique users - 9mths to 30th September (mill)	9.0	8.0	13%
itv.com average monthly video views - 9mths to 30th September (mill)	15.6	16.6	(6)%

Commercial impacts and share of commercial impacts ("SOCI") data based on BARB / DDS data for adults; viewing figures based on BARB / Infosys data for individuals.  ITV family includes ITV1, ITV2, ITV3, ITV4, CITV, ITV Breakfast, Men&Motors and time-shift and HD variants.  Video views based on internal ITV data and Nedstat data. Unique user figures based on Omniture and Nedstat data.  itv.com unique users and video views include ITV Breakfast from July 2010.

5.   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) adverse changes to the current outlook for the UK television advertising market, (ii) adverse changes in tax laws or failure to achieve regulatory relaxation, (iii) the risks associated with the introduction of new products and services, (iv) pricing, product and programme initiatives of competitors, including increased competition for programmes, (v) changes in technology or consumer demand, (vi) the termination or delay of key contracts and (vii) fluctuations in exchange rates.

For further information please contact:

Investors

Pippa Foulds                     0207 157 6555 or 07778 031 097

Press                                                                         

Louise Evans                    0207 157 3710 or 07825 680 994

Tulchan Communications Group              0207 353 4200

Susanna Voyle

 

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