ITV Plc Full Year results for the twelve months ending 31 December 2023
Strong strategic execution driving robust financial and operating performance, despite challenging macroeconomic environment
● Significant progress against ITV's three strategic pillars
● ITV Studios delivered record revenues and profits
● ITVX delivered strong growth in digital viewing and revenues
● 2026 KPI targets on track
Carolyn McCall, ITV Chief Executive, said:
"In 2023 we saw the benefit of the actions we have taken to reposition ITV towards higher sustainable growth. Our Studios business recorded the highest ever revenues and profits and in its first year ITVX delivered strong growth in viewing and digital revenue with investment on plan. This growth in production and streaming substantially offset the challenging linear TV advertising market conditions.
"We remain confident in delivering our KPI targets, and are making good progress towards these - most notably ITV Studios organic revenue growth of 5% on average per annum between 2021 and 2026 at a margin of 13 to 15% and to deliver at least £750 million of digital revenues by 2026.
"We remain firmly committed to creating shareholder value and applying a disciplined approach to capital allocation. As announced on 1 March 2024, we will return the entire net proceeds of the sale of BritBox International through a share buyback of £235 million and the Board has proposed a final dividend of 3.3p giving an ordinary dividend of 5.0p per share or c.£200 million, for the full year....
And later;
Dividends
The Board recognises the importance of the ordinary dividend to ITV shareholders. Reflecting its confidence in the business and its strategy, as well as the continued strong cash generation, the Board proposes a final dividend of 3.3p (2022:3.3p), giving a full year dividend of 5.0p (2022: 5.0p) per share. In 2023, £201 million of dividends were paid (2022: £201 million), representing a final 2022 dividend of 3.3p per share and an interim 2023 dividend of 1.7p per share.
https://www.investegate.co.uk/announcem ... 23/8075127Ian (No holding).