RTÉ posts first surplus since 2007

Tuesday 01 July 2014 14.59
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RTÉ publishes annual report for 2013 today
RTÉ publishes annual report for 2013 today
RTÉ's director general Noel Curran cites 'rigorous financial management' for surplus
RTÉ's director general Noel Curran cites 'rigorous financial management' for surplus

RTÉ has reported a net surplus before tax of €1.1m for 2013, according to its annual report published today.

This is the first time the company has reported a pre-tax surplus since 2007 and it compares to a net deficit of €65.2m in 2012.

Since 2008, RTÉ has reduced its operating cost base by 30%, or over €132m. A major restructuring of its operations took place over the last few years to reduce its operating cost base and enable it to return to financial stability.

RTÉ's director general Noel Curran said the surplus was achieved as a result of its "rigorous financial management" and its cost-cutting measures.

He also pointed out that the national broadcaster now has one of the smallest work forces of any public broadcaster in the European Broadcasting Union and is at the lower end of comparable public funding.

Today's report notes that RTÉ's total operating spending last year was €307m, €87m more than it received from license fee income. Of this 86% was paid to Irish personnel and Irish suppliers, it added.

The company also cautioned that the uncertainties of the future will continue to be a challenge. 

"Even while the recession is slowly lifting, the overall media market continues to be highly competitive and fragmented with increasing numbers of UK channels selling Irish advertising, new channels emerging and an increased migration of viewers to digital channels", the company stated in today's report.