RTÉ reported a net deficit of €16.8m in 2011, based on revenues of €351m according to the organisation's annual report which was published today.
At €167m, commercial revenue was down over €8m from 2010.
Chairman Tom Savage described this as a "creditable performance in the circumstances".
He said RTÉ would in fact have reported a small surplus were it not for the ongoing impacts of the 2010 budget and the Broadcasting Act 2009.
Director General Noel Curran said RTÉ has reduced its operating costs by close to 20% since 2008, and he made a committment that RTÉ will break even in 2013.
Mr Savage said the year's highlights included the launch of SAORVIEW, while memorable programming included the visits of Queen Elizabeth and Barack Obama and the General and Presidential elections.
He also said one programme broadcast during 2011 had gravely damaged the station's reputation for high editorial standards.
He 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.
