RTÉ reported a net deficit of €16.8 million in 2011, based on revenues of €351 million according to the organisation's annual report, published today.
Commercial revenue was down €8m to €167m from 2010, which chairman Tom Savage described as a “creditable performance in the circumstances”.
He said RTÉ would have reported a small surplus were it not for the ongoing impacts of the 2010 national budget and the Broadcasting Act 2009.
Director General Noel Curran said RTÉ has reduced its operating costs by close to 20% since 2008 and made a commitment that it will break even in 2013.
Mr Savage said the year's highlights included the launch of SAORVIEW and memorable programming including the visits of Britain’s Queen Elizabeth and US President Barack Obama along with the General and Presidential elections.
He also said one programme broadcast during 2011 had gravely damaged the station's reputation for high editorial standards.
Mr Savage reiterated RTÉ's full and unreserved apology to Fr Kevin Reynolds and said the Board is determined to take all necessary steps to restore confidence in RTÉ's investigative reporting.
