TVB trims net loss, optimistic for 2025

Television Broadcasts (0511) said its 2024 net loss narrowed by 36 percent from a year ago and that it expects a positive net profit for the full year of 2025.

The city's major broadcaster recorded a net loss of HK$491 million last year, mainly due to a HK$435 million improvement in earnings before interest, taxes, depreciation, and amortization.

It recorded positive EBITDA of HK$295 million in 2024, rising from an EBITDA loss of HK$140 million in 2023.

TVB anticipates EBITDA for the full year of 2025 to be significantly higher than last year's, having substantially written down all of its remaining legacy and non-performing assets in 2024.

The net loss, excluding the impact of non-recurring asset write-downs, stood at HK$88 million in 2024, the company said, adding that it recorded a profit of HK$53 million in last year's second half.

Revenues amounted to HK$3.26 billion yuan in 2024, down 1.95 percent year-on-year.

Income from core TV-related businesses grew 10 percent year-on-year to HK$3.13 billion on the back of a 17 percent rise in revenues from Hong Kong TV broadcasting and mainland China operations segments.

Its Hong Kong segment saw advertisement income increase by 14 percent.

TVB anticipates continued growth in advertising income this year due to a robust performance in precommitments for 2025 advertising packages.

STAFF REPORTER