Stv Group Plc · LSE:STVG
Stv — Investor Day (May 2025)
83 slides from Stv's investor day presentation, May 21, 2025
Slide 1: STV Fast Fwd to 2030
STV Fast Fwd to 2030 Capital Markets presentation Wednesday 21st May 2025 1
Slide 2: Agenda
Agenda Welcome Rufus The STV story so far Lindsay STV Fast Fwd Strategy Rufus Future-proofing our audience & advertising proposition Richard, Bobby & Danielle Profitable scaling of STV Studios David & Karen Cash generation, investment & returns Lindsay Summary Rufus Q&A All 2
Slide 3: STV Fast Fwd to 2030
STV Fast Fwd to 2030 Scotland’s leading platform for audiences and advertisers A strong, future-proofed advertising business, with high-margin incremental revenue growth through digital and audio A global content powerhouse A fast growing, IP-focused content business with both UK and internation
Slide 4: Agenda
Agenda Welcome Rufus The STV story so far Lindsay STV Fast Fwd Strategy Rufus Future-proofing our audience & advertising proposition Richard, Bobby & Danielle Profitable scaling of STV Studios David & Karen Cash generation, investment & returns Lindsay Summary Rufus Q&A All 4
Slide 5: Who is STV?
Who is STV? Broadcast Digital Studios Channel 3 Scotland UK-wide Primarily advertiser-funded with campaigns run across Scripted and unscripted – both traditional and digital platforms covering all key genres Mass reach Local targeting Producing content for UK and international buyers Channel 3 con
Slide 6: Our markets – local, national and global
Our markets – local, national and global Cyclical but resilient – migration to digital captured through STV Player Linear advertising CAGR only -2% since 2019 UK ad market VOD revenue CAGR +14% since 2019 TV advertising most effective medium with >5x ROI Mass reach and targeted advertising
Slide 7: Our business model – simplicity at its core
Our business model – simplicity at its core Broadcast & Digital Content Channel 3 licence, and related commercial Develop creative pipeline with focus on agreements with ITV returnability and formats ITV content schedule boosted by Scottish news and current affairs and supplemented by 3rd party Pitc
Slide 8: STV’s right to win and foundation for growth
STV’s right to win and foundation for growth Broadcast & Digital Content 21 creative labels covering scripted and STV is the largest advertising platform in unscripted – wide appeal and increased Scotland and one of Scotland’s most iconic resilience brands Growing number of UK and internationa
Slide 9: A balanced business across advertising & production, with strong cash generation
A balanced business across advertising & production, with strong cash generation Revenue Operating profit 200.0 Broadcast Digital Studios Other 30.0 25.0 150.0 20.0 £m 100.0 15.0 10.0 50.0 5.0 0.0 0.0 2018 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022 2023 2024 Operating cash generation Lev
Slide 10: Agenda
Agenda Welcome Rufus The STV story so far Lindsay STV Fast Fwd Strategy Rufus Future-proofing our audience & advertising proposition Richard, Bobby & Danielle Profitable scaling of STV Studios David & Karen Cash generation, investment & returns Lindsay Summary Rufus Q&A All 10
Slide 11: Refresh not Re-invention
Refresh not Re-invention 11
Slide 12: Our Vision: A globally recognised content powerhouse and Scotland’s leading platform
Our Vision: A globally recognised content powerhouse and Scotland’s leading platform for audiences and advertisers… Broadcast and Use power of STV to Focus on growing digital team diversify into new AI- Take strength of content market combined to deliver enabled ad broadcast news and segments, drivi
Slide 13: A simplified structure to drive operational efficiency and alignment of objectives
A simplified structure to drive operational efficiency and alignment of objectives 1 Audience 2 Content Scotland’s leading platform for audiences and advertisers A globally recognised content powerhouse International business and mindset Building the audience Strong organic and inorganic potenti
Slide 14: Refreshed 2026 targets
Refreshed 2026 targets Reflecting new structure 1 Audience 2 Content Grow digital revenues to £30m Grow revenues to £120-140m Audience margin of at least 15% Margin of at least 8% Reach >2/3 of Scotland each month >25% revenue from international markets Launch radio station >5k hours in distribution
Slide 15: STV 2030: An advertising and global content business
STV 2030: An advertising and global content business Group operating profit £30-£35m SCOTLAND’S LEADING PLATFORM FOR AUDIENCES A GLOBALLY RECOGNISED CONTENT POWERHOUSE AND ADVERTISERS Revenue growth in line with GDP Double revenue to £200m 17-20% operating margin 10% operating margin Delivering more
Slide 16: Agenda
Agenda Welcome Rufus The STV story so far Lindsay STV Fast Fwd Strategy Rufus Future-proofing our audience & advertising proposition Richard, Bobby & Danielle Profitable scaling of STV Studios David & Karen Cash generation, investment & returns Lindsay Summary Rufus Q&A All 16
Slide 17: The new audience division: FastFwd to 2030
The new audience division: FastFwd to 2030 Maintain total reach Continue to deliver audiences of scale, complemented by highly targeted audiences over the internet Use platform to create new venture opportunities Use the power of the STV brand to further diversify into audio Take the broad
Slide 18: Bringing the Broadcast and Digital divisions together
Bringing the Broadcast and Digital divisions together How to view increasingly doesn’t matter to audiences… …but it makes a huge difference to advertisers Player consumption has grown 4-fold since 2018 IP and on-demand viewing means adverts can be and 90% of viewing is on TV screens delivered to
Slide 19: TV has remained resilient against SVOD headwinds, and they’re now slowing down
1 TV has remained resilient against SVOD headwinds, and they’re now slowing down STV’s delivered 96% of the top 500 audiences SVOD uptake in Scotland across all commercial channels and SVOD in 2024 Netflix Prime Disney+ NOW Paramount+ 62% 47% 25% 20% 9% 4% 6% 2% 2015 2016 2017 2018 2019 2020 2021 20
Slide 20: Broadcasters and BVOD forecast to remain dominant to 2030
2 Broadcasters and BVOD forecast to remain dominant to 2030 In 2030 Broadcasters will still account for 69% of TV set viewing All Video Viewing TV Set Viewing 8% 10% 27% 28% Video-Sharing 18% 21% SVOD/AVOD 15% 18% Broadcaster/ BVOD 74% 69% 58% 54% 2024 2030f 2024 2030f Source: Enders Video Viewing f
Slide 21: Scots watch more TV than the UK average
3 Scots watch more TV than the UK average Time spent watching TV set a day Scotland UK 4hrs 47mins 4hrs 37mins 4hrs 30mins + 30mins + 49mins + 40mins 4hrs 7mins 3hrs 58mins 3hrs 50mins 2022 2023 2024 Source: Barb (As Viewed), Scotland, Individuals, TV Set viewing 21
Slide 22: STV regularly outperforms ITV
4 STV regularly outperforms ITV Peak time share of viewing 22.5% 22.2% 22.0% 21.7% 21.8% 21.4% 21.3% 20.6% 20.6% 20.6% 19.9% 19.7% STV 19.4% 19.3% ITV1 2018 2019 2020 2021 2022 2023 2024 Source: Barb, 2015-2024 (18:00-22:29), Individuals, TV Set viewing. 22
Slide 23: The power of the STV brand
5 The power of the STV brand No1 has the highest brand awareness 6th yr STV is the most watched commercial TV STV News at Six is the top news across all commercial broadcasters channel in Scotland (bigger than next five programme in Scotland for six outperforming Ch4 streaming, ITVX, commercial TV c
Slide 24: Delivering scale and targetability
Delivering scale and targetability STV will remain Scotland’s biggest STV Player viewing has grown 400% in 5 commercial advertising platform years with a user base of >2m over the next 5 yrs The biggest news show in Scotland STV Player is available across all the UK’s delivers guaranteed sca
Slide 25: Use platform to create new ventures
Use platform to create new ventures STV Player+ was launched in 2019 We have 650k active contactable users Subscribers currently 22k, +53% YTD We have social media reach of >1.5m In Feb-2025 we launched STV owned ScotPulse has grown 124% partnership with Premier Sports since 2020 using t
Slide 26: Radio is a logical next step for STV
Radio is a logical next step for STV All Comm. TV incl Bvod All Comm. Radio 1000 800 Aud ( 000's) 600 400 200 0 0700 1230 1800 2330 0600 0630 0730 0800 0830 0900 0930 1000 1030 1100 1130 1200 1300 1330 1400 1430 1500 1530 1600 1630 1700 1730 1830 1900 1930 2000 2030 2100 2130 2200 2230 2300 0000 0
Slide 27: Radio listening is robust, and commercial radio is outperforming the BBC
Radio listening is robust, and commercial radio is outperforming the BBC Weekly radio listening hours (m) and reach (m), 2010-2024 700 40 40 39 600 38 556 37 500 36 35 456 400 34 33 300 32 32 31 200 30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 BBC wkly hrs (m) Comm
Slide 28: Radio revenues are strong and growing
Radio revenues are strong and growing UK Radio Revenues 2000-2025 Total radio (Spots, S/ship, digital) (f) 900 800 700 600 500 £m 400 300 200 100 0 Source: Thinkbox 28
Slide 29: Scots have a strong appetite for commercial radio
Scots have a strong appetite for commercial radio 61% 54% 52% 49% 36% 28% Local Comm. Radio % weekly reach % of radio hrs that are Comm. Radio % of radio hrs local Comm Radio Scotland UK Source: Radio - Media Nations 2024 OFCOM 29
Slide 30: The market opportunity
The market opportunity Scottish 25-44 25-44 35-54 Content Target 15-34 25-44 45+ UK 45+ Target Age 30
Slide 31: STV’s right to win in radio
STV’s right to win in radio The power of our marketing platform to launch new services The strength of our existing relationships with advertisers Our TV strengths are highly complementary – news, sport, entertainment, STV Player Digital and online listening will extend our advanced advertis
Slide 32: Our radio ambition in years
Our radio ambition in 5 years… 500K 5M £5M reach listening hours revenue £2M TOP 3 £0.5M operating profit radio station in set-up cost in Scotland FY25 32
Slide 33: TV will remain a must-have advertising platform for brands
TV will remain a must-have advertising platform for brands 54.7% 3.4% of advertising-generated profit Online Video (mostly YouTube) comes from TV, with an average accounts for 3.4% of advertising- ROI of £5.61 for every pound spent generated profit with an average ROI of only £3.86 Television is the
Slide 34: TV makes every other advertising medium work harder
TV makes every other advertising medium work harder Cinema +54% Online video Generic search +20% +8% TV Direct mail Paid social +20% +31% OOH Online display +22% +31% Print Radio +31% +31% Source: Thinkbox 2024, voting Demand Generation, 2019 (Mediacom, wavemaker, Gain Theory) 34
Slide 35: STV has a uniquely strong position in Scotland
STV has a uniquely strong position in Scotland 299 active brands in 2024, up 62% SME advertisers booking STV +10% YoY and STV Player in 2024 +9% growth in average monthly brand count in 2024 64% of 2024 Growth Fund members 95% STV Growth Fund members are existing from prior year recommend TV adverti
Slide 36: Match Funding, Revenue Share, Media for Equity
Match Funding Revenue Share Media for Equity Gifted Member Over Over 1400 974 £37M allocated deals campaigns produced by STV Creative Note: Since launch in 2018. STV Creative ads produced across all clients. 36
Slide 37: STV ADapt will be a new way to advertise with STV
STV ADapt will be a new way to advertise with STV Accessible and user-friendly AI enabled advert creative Flexibility in regionally transactional interface production addressable STV audiences Step 1 Step 2 Step 3 Advertiser goes online and AI tools create automated STV schedules slots across STV bo
Slide 38: We will enter a new market with clear, incremental revenue potential
We will enter a new market with clear, incremental revenue potential Market size STV ADapt is c.£125m micro-targeting STV knows Scottish SMEs Live & VOD More cost viewing effective than social media 38
Slide 39: STV ADapt pilot partners
STV ADapt pilot partners "We already advertise locally on radio and in press, and if we can target a TV ad to our key areas then that is definitely something we are interested in." "We love being a part of this project. Advertising on TV would normally be way out Linda Hill Miller | Owner | LAH Trav
Slide 40: The Government and OFCOM believe in STV
The Government and OFCOM believe in STV The Media Act is the most important Delivery of STV News is central to our media legislation of the past 20 years continued licence and is a strategic asset STV linear broadcast channel has the right It is watched by 1 million Scots per week to position 3
Slide 41: Scotland’s leading digital news brand
Scotland’s leading digital news brand Dedicated content teams Flow of stories ‘owning’ high-interest throughout topic areas end to end, day including lifestyle Driving to all Contemporary platforms formats where Scots for digital age consume news Pivot to digital to maintain relevance for younger vi
Slide 42: The new audience division: FastFwd to 2030
The new audience division: FastFwd to 2030 Maintain total reach Continue to deliver audiences of scale, complemented by highly targeted audiences over the internet Use platform to create new venture opportunities Use the power of the STV brand to further diversify into audio Take the broad
Slide 43: Agenda
Agenda Welcome Rufus The STV story so far Lindsay STV Fast Fwd Strategy Rufus Future-proofing our audience & advertising proposition Richard, Bobby & Danielle Profitable scaling of STV Studios David & Karen Cash generation, investment & returns Lindsay Summary Rufus Q&A All 43
Slide 44: STV Studios
STV Studios 21 creative labels covering scripted and unscripted, and key genres within WHOLLY-OWNED MAJORITY-OWNED MINORITIES (51%) (63%) (99%) (51%) * *Profit-sharing agreement rather than equity stake We have exited four labels in the last 18 months following strategic review of the portfolio; cur
Slide 45: STV Studios: leveraging our strengths to create value
STV Studios: leveraging our strengths to create value Creative autonomy Global commercial mindset Portfolio approach building resilience and optionality Growing library of IP Strong role of centre/operational efficiency 45
Slide 46: STV Studios transformation
STV Studios transformation Turnover and profit have grown significantly since relaunch in Nov-2018 Turnover & Operating Profit Growth Turnover, Scripted vs Unscripted 90 7 90 80 6 80 70 70 5 Operating Profit, £m 60 60 4 Turnover, £m 50 50 3 40 40 2 30 30 1 20 20 10 0 10 0 -1 0 2018 2019 2020 2021 20
Slide 47: The UK regulatory environment favours producers with a Nations & Regions footprint
The UK regulatory environment favours producers with a Nations & Regions footprint Regional production quotas Key productions hubs Proportion & range of (Glasgow & London) programmes by spend Other locations 50% 35% 35% 10% and hours made outside (Belfast, Manchester, the M25 Cardiff & Brighton) 8%
Slide 48: Our target market
Our target market Good IP returns from tape sales, high premia, and high format fees, with a route to deliver global hits High cost OPPORTUNITY High cost scripted that delivers IP Rare massive global format hits premium (Amadeus), or (Strictly or Dragons’ Den) or “tentpole” unscripted with format su
Slide 49: Generating tangible results from ideas
Generating tangible results from ideas Production is a momentum business Halo effect, 6 6. games/merch etc GENERATE 1 1. EXTRA VALUE DEVELOP IDEAS Constantly 55. evolve to reflect 2 2. IP royalties SELL TAPE changing PITCH TO AND/OR landscape COMMISSIONERS FORMAT 3 3. 4 4. GREENLIGHT Production fee
Slide 50: A portfolio approach to increase resilience and maximise value
A portfolio approach to increase resilience and maximise value New unscripted Returning Secondary series unscripted series sales Increasing margin Scripted series Scripted series (network) (streamers) 50
Slide 51: Returnability and formats deliver IP hours and high margin revenues
Returnability and formats deliver IP hours and high margin revenues As hours in the catalogue have grown, the compounding effect of library sales has led to increasing IP revenues Intellectual Property Sales Hours Available for Distribution (Distribution, Secondary, etc) 4800 8.0 4600 7.0 4400 6.0 4
Slide 52: The route to profitable growth and a 10% margin
The route to profitable growth and a 10% margin is having a… Range of commissioning customers Focus on returnability and formats with broad appeal Hours available for distribution Breadth of genre offering Best in class operating model Efficient and effective back office 52
Slide 53: Customer Diversity: FTA, Pay, Streamers
DIGITAL COMMISSIONING Italia Customer Diversity: FTA, Pay, Streamers Deutschland 53
Slide 54: Programme diversity: FTA, Pay, Streamers
Programme diversity: FTA, Pay, Streamers 54
Slide 55: Two Cities Television
Two Cities Television A well-timed investment Feb 2024 Feb 2025 Mar 2021 Apr 2023 Amadeus & Blue Lights wins Blue Lights S1 Blue Lights S2 Blue Lights S3&4 Best drama Commission Commission Commission (Broadcast) Aug 2023 Nov 2024 May 2025 JAN 2020 JAN 2024 Blue Lights S1 Blue Lights wins Blue Lights
Slide 56: Two Cities contribution to STV financial success
Two Cities contribution to STV financial success Returnability: Blue Lights – 4 series commissioned; high margin tape sales International appeal: Amadeus (Sky); high premia; halo effect for TCT and wider STV Studios Breadth of offering: successfully covered range from modern police drama to pe
Slide 57: Non-scripted International: How the rest of the world can make money for you
Non-scripted International: How the rest of the world can make money for you Karen Smith, CEO 57
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Slide 59: Non-Scripted Distribution
Non-Scripted Programme Year of Country of Title Origin Origin Distributor Genre Returning Versions in 2024 Distribution The Voice 2010 Netherlands ITV Studios Entertainment 29 Sony Pictures Factual Dragons’ Den 2001 Japan 26 Television Entertainment UK producers are the world leaders in developing
Slide 60: How The Revenues Work
How The Revenues Work FORMAT FEES 5% - 6.5% of production budget TAPE SALES BENEFITS OF NOT BEING ATTACHED TO A SINGLE DISTRIBUTOR Play the field Cash advances Access opportunities OTHER UPSTREAM INTERNATIONAL REVENUE SOURCES Original music Secondary rights collection 60
Slide 61: Launched in 2012
Launched in 2012 MADE IT PERSONAL Direct relationships with key buyers at all the big networks internationally Across every stage of the process STAGED SALE PROCESS Make aware at UK channel interest stage / Proof of Concept / Pilot – mark the territory. Have made sales at this stage Follow u
Slide 62: LEGO MASTERS
1 LEGO MASTERS “Building Big” ORIGINAL IDEA PITCHED TO C4 IN 2015 SERIES OF 4 EPS LAUNCHED IN SEPT 2017. BIG RATINGS HIT QUICKLY MADE A SALE TO AUSTRALIA, NINE 2018: TOOK TITLE OUT TO TENDER. BANIJAY ATTACHED Good advance Excellent network of international producers (Masterchef) RETAINED CO PRO
Slide 63: LEGO MASTERS: The Future
LEGO MASTERS: The Future SELLING A FORMAT INTERNATIONALLY MEANS YOU BUILD UP A CREATIVE NETWORK OF PRODUCERS – A WORLDWIDE BRAINPOOL FORMAT DERIVATIONS & ADAPTATIONS Main series Kids Celebrity Christmas / Holiday specials Out of the Box Local territory vs the rest of the world 63
Slide 64: THE HIT LIST
2 THE HIT LIST “Big local Hits aren’t always straightforward slam dunks” 8 SERIES & OVER 85 EPS MADE FOR BBC1 IT’S STILL A RATINGS SMASH ECONOMICAL TO PRODUCE, APPEALS TO BROAD MAINSTREAM AUDIENCES, RATES HIGHER THAN THE VOICE. MUSIC CLEARANCE COSTS ARE A BARRIER BUT WE ARE STILL HAVING SUCCESS / FI
Slide 65: THE FORTUNE HOTEL
3 THE FORTUNE HOTEL “Check in for a long stay” TOOK TITLE OUT TO DISTRIBUTION TENDER BEFORE IT HAD TX’D IN UK Competitive process which leveraged a significant cash advance KEPT U.S RIGHTS, NO NEED FOR U.S. CO PRO PARTNER SEASON 2 HAS TRIGGERED COMMERCIAL OPPORTUNITIES LOCALLY Brand is amplified
Slide 66: And Finally…
And Finally… There is great opportunity in international unscripted format sales for the right kind of producer with the right kind of ideas Eagerness to buy UK formats. Still the world leaders Financial advantages to making U.S. shows in the UK Opportunity to sell paper formats in other ter
Slide 67: Operating Model is “production first”
Operating Model is “production first” Unique for a group of our scale and attractive to creatives Supportive management Commercial Excellent Deep customer Great Commercial acumen & Creative Talent relationships programmes return relationships Strong support structures Scaling for growth will be achi
Slide 68: New platforms, new revenues
New platforms, new revenues With brands seeking direct content relationships with consumers, we are following the attention and the advertising into newer platforms Brands Audiences FAN CLUB – “Turning Brands into Broadcasters” Develops content strategies for brands Commissions and/or makes the
Slide 69: What’s Next?
What’s Next? Six years into our transformation, STV Studios is a very different business with a new five year plan A path to becoming a £200m business, delivering a 10% margin Driving returns on our existing investments Winning the right to make further strategic investments at the right time
Slide 70: Agenda
Agenda Welcome Rufus The STV story so far Lindsay STV Fast Fwd Strategy Rufus Future-proofing our audience & advertising proposition Richard, Bobby & Danielle Profitable scaling of STV Studios David & Karen Cash generation, investment & returns Lindsay Summary Rufus Q&A All 70
Slide 71: STV is strongly cash generative
STV is strongly cash generative Operating Cashflow (£m) Throughout the advertising cycle, STV is cash 40.0 generative 30.0 £150m operating cashflow generated since 2018 20.0 Conversion from profit to cash is strong; moves 10.0 away from 100% are due to timing of: - True-ups with ITV re natio
Slide 72: Our bank facilities provide capacity and flexibility to deliver our strategy to 2030
Our bank facilities provide capacity and flexibility to deliver our strategy to 2030 New RCF agreed February 2025: £70m facility with £20m accordion 3+1+1 years (matures Feb-2030) Flat margin at 1.85% - doesn’t increase with leverage Flexibility to use third party production financing as r
Slide 73: Financing programme production doesn’t have to be capital intensive
Financing programme production doesn’t have to be capital intensive We do not deficit finance programmes: Programme financing example NO balance sheet risk Programme budget, including production margin, fully covered by third parties on Day 1 Levers available to STV to reduce working capital
Slide 74: Operating efficiencies, partnerships and cost savings will contribute to growth
Operating efficiencies, partnerships and cost savings will contribute to growth On track to hit target run rate savings of £5m p.a. by end FY26 Plan to 2030 assumes continued focus on savings and efficiencies – more to come Leveraging existing tangible assets and refocusing people will enable:
Slide 75: Capital allocation
Capital allocation Reinvestment for growth Dividends Pensions Radio Current, progressive Recovery plan ends policy maintained Oct-2030 Studios investment Considering options to accelerate full funding By end 2030 DB schemes will be fully funded so no further pension contributions; FCF will
Slide 76: Investment to 2030: radio
Investment to 2030: radio Ambition is to be a radio station of scale in 2030 500k 5m £5m £2m reach listening hrs revenue profit Incremental revenue line that will boost profitability and margin in the medium term Limited capital required Summary P&L impact: 2025 2026 2027 2030 Revenue - 0.7
Slide 77: Investment to 2030: Studios
Investment to 2030: Studios Target to double the business in 2030: £200m revenue and £20m profit Successful investments to date: Greenbird Two Cities Consideration £23.5m Consideration £3.7m Cash acquired £6.9m ROIC c.25% Incremental stakes in subs £5.3m ROIC c.15% Agreements i
Slide 78: Studios valuations are several turns higher than traditional TV
Studios valuations are several turns higher than traditional TV; hence Studios growth, while lower margin, delivers greater valuation impact Studios are generally valued at 8-12x EV / EBITDA As a result, Studios profit growth should be disproportionately multiples, compared to traditional TV below 6
Slide 79: FastFwd 2030 will be delivered through cash generation and existing facilities
FastFwd 2030 will be delivered through cash generation and existing facilities STV is a strong cash generative business and will continue to be Our new RCF gives capacity and flexibility Access to third party production financing is beneficial from a working capital and ‘cost of funds’ perspec
Slide 80: Agenda
Agenda Welcome Rufus The STV story so far Lindsay STV Fast Fwd Strategy Rufus Future-proofing our audience & advertising proposition Richard, Bobby & Danielle Profitable scaling of STV Studios David & Karen Cash generation, investment & returns Lindsay Summary Rufus Q&A All 80
Slide 81: STV Fast Fwd to 2030
STV Fast Fwd to 2030 Scotland’s leading platform for audiences and advertisers A strong, future-proofed advertising business, with high-margin incremental revenue growth through digital and audio A global content powerhouse A fast growing, IP-focused content business with both UK and internation
Slide 82: STV 2030: An advertising and global content business
STV 2030: An advertising and global content business Group operating profit £30-£35m SCOTLAND’S LEADING PLATFORM FOR AUDIENCES A GLOBALLY RECOGNISED CONTENT POWERHOUSE AND ADVERTISERS Revenue growth in line with GDP Double revenue to £200m 17-20% operating margin 10% operating margin Delivering more
Slide 83: Disclaimer
Disclaimer The information contained in these slides has been prepared by the directors of STV Group plc (“STV Group") for information purposes only and the information in these slides and the presentation made to you verbally is subject to updating, completion, revision, further verification and am