Television Broadcasts Limited (TVB) recently announced its full-year results for the period ending December 31, 2023. The company reported a significant reduction in losses, narrowing to HK$491 million from HK$763 million in the previous year. Loss per share stood at HK$1.09, and the company decided not to declare a dividend.
The company's EBITDA turned positive, reaching HK$295 million, compared to a loss of HK$140 million in the previous year. TVB stated that with its current business momentum and the write-off of most remaining impaired assets in 2024, it expects EBITDA to grow substantially in 2025 and anticipates achieving positive net profit attributable to shareholders.
After excluding the impact of non-operating and non-recurring items, adjusted losses for the year were HK$88.47 million, a significant improvement from HK$607 million in 2023.
Starting January 2025, TVB began selling advertising slots for its Jade and Pearl channels in Guangdong Province, reflecting a new commercial agreement with its broadcasting partners. The company noted positive market feedback, and the new measures are expected to contribute significantly to advertising revenue in the future.
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