Business
Television Broadcasts : TVB Announces 2024 Annual Results Significantly Positive EBITDA of HK$295 Million Positive Adjusted Net Profit Attributable to Equity Holders Achieves HK$53 Million in the 2H 2024
Television Broadcasts : TVB Announces 2024 Annual Results Significantly Positive EBITDA of HK$295 Million Positive Adjusted Net Profit Attributable to Equity
About this update from Television Broadcasts Limited
[{"type":"text","content":"\n (26 March 2025, Hong Kong) Television Broadcasts Limited (\"TVB\" or the \"Group\", stock code: 00511.HK) today announced its annual results for the year ended 31 December 2024 (the \"Year\").\n \n \n Total Group revenue, including our e-Commerce Business segment, for the Year fell slightly by HK$65 million or 2% from HK$3,323 million to HK$3,258 million. Total revenue of core TV-related businesses (excluding e-Commerce Business segment) increased by HK$294 million or 10% from HK$2,837 million to HK$3,131 million, driven mainly by 17% revenue growth in our Hong Kong TV Broadcasting segment and 17% revenue growth in our Mainland China Operations segment. The Group achieved positive EBITDA of HK$295 million, representing a HK$435 million improvement compared to the EBITDA loss of HK$140 million last year. Loss attributable to equity holders of the Company was reduced substantially by HK$272 million to HK$491 million (2023: HK$763 million) mainly due to the HK$435 million improvement in EBITDA, which was partially offset by non-cash write-downs during the Year of substantially all of our remaining legacy and nonperforming assets. Loss per share for the Year was HK$1.09 (2023: HK$1.74). Excluding the impact of asset write-downs, which are non-recurring in nature, our loss attributable to equity holders of the Company would have only been HK$88 million for the Year (2023: HK$607 million), and we in fact achieved a profit of HK$53 million in the second half of 2024.\n Mr. Thomas Hui, Executive Chairman of Television Broadcasts Limited said, \"TVB recorded an encouraging performance in 2024, achieving a notable surge in EBITDA with an improvement of HK$435 million compared to 2023, marking an adjusted profit of HK$53 million in the second half of the Year. Thanks to the dedicated efforts of our colleagues, our self-operated terrestrial TV channels enjoyed a 79% market share of viewership in Hong Kong, maintaining our position as the territory's leading platform for entertainment and information. In the digital media sector, we have also established a leading position. We had over 23 million average monthly active users in 2024 across our Hong Kong digital assets including TVB.com, TVB News mobile app and TVB-related social media accounts, a significant increase of 81% compared to 2023.\"\n \n \n Our Hong Kong TV Broadcasting segment...