LONDON (dpa-AFX) - U.K.-headquartered broadcasting business ITV plc (ITV.L)
reported that its profit attributable to owners of the company for the year
ended 31 December 2023 dropped to 210 million pounds or 5.2 pence per share from
428 million pounds or 10.6 pence per share in the prior year.

Group adjusted EBITA was down 32% at 489 million pounds which reflects the
decline in linear advertising revenue and the previously guided investment in
ITVX.

Adjusted earnings per basic share declined 41% to 7.8 pence from the prior year.

Profit before tax was 193 million pounds down from 501 million pounds in the
previous year.

Revenue for the year declined to 3.62 billion pounds from 3.73 billion pounds in
the prior year.

The Board has proposed a final dividend of 3.3 pence giving an ordinary dividend
of 5.0 pence per share or about 200 million pounds, for the full year.

ITV said earlier this month that it sold its 50% holding of BritBox
International to the BBC for a total consideration of 255 million pounds. The
Board intends to return the entire net proceeds to shareholders through a 235
million pounds share buyback, which is expected to commence today.

The company noted that its existing cost saving program targeting 150 million
pounds between 2019 and 2026, has delivered 130 million pounds of annualised
savings to date. The company said it is on track to deliver the full 150 million
pounds by 2025 - one year early.

ITV Studios is on track to deliver total organic revenue growth of 5% on average
per annum from 2021 to 2026 - ahead of the market, and at a margin of 13% to
15%.

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