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RTE turns in big total loss and small operating profit for 2012

  • 01-08-2013 01:32PM
    #1
    mike65
    Closed Accounts Posts: 88,968 ✭✭✭✭


    http://www.irishtimes.com/culture/media/rté-reveals-deficit-of-65-2m-last-year-1.1481797
    RTÉ has confirmed it was €65.2 million in the red last year following a major restructuring of the company.

    The net deficit emerged in the broadcaster’s annual report for 2012, which also revealed an operating profit of €2.2 million. The State broadcaster insisted it is on target to break even in 2013.

    Much of RTÉ’s deficit was due to a one-off €46 million restructuring charge.

    This funded an overhaul of the company’s operations, which was aimed at ultimately reducing the company’s cost base.

    RTÉ said the €2.2 million euro operating profit was made in spite of further reductions in revenue in 2012 and was driven by reductions in operating costs of €18.4 million euros.

    Some big numbers in there, should I assume the €65.2 million is the total net loss, which they will either have to finance or pay off?


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