TVP makes record profit

April 24, 2014 08.29 Europe/London By Chris Dziadul

tvp-flagsThe Polish public broadcaster TVP has posted a record gross profit of PLN105.6 million (Ä25.2 million) for the first quarter.

This was higher than the projected figure of PLN101.1 million and significantly more than the PLN4.5 million in the corresponding period last year.

According to TVP, the main reasons for its improved financial performance were additional revenues from receiver licence fees, amounting to PLN38.7 million and moved over by the National Broadcasting Council (KRRiT) from 2013 to January this year; more revenues from sponsorship and advertising; increases in other income; and planned savings.

However, the broadcaster warns that the figure is exceptional and seasonal and it should be borne in mind that it will have large outgoings in the coming months covering such events as the European Parliamentary Elections and the World Cup in Brazil.

At the same time, it also says its that it has stable liquidity, with income from receiver licence fees growing but still only meeting a small part of TVPís needs.

On the plus side, revenues from sponsorship and advertising were higher than planned in Q1, helped by improved viewing figures and TV ad market.

Income from other sources increased by PLN6.5 million (24.5%) year-on-year in Q1, while operating expenses were, at PLN321.3 million, PLN22.6 million lower than a year earlier.