TV3 reports €6.8m loss last year

TV3 reported a €6.8m loss last year despite a 2% increase in annual revenues and a 28% rise in earnings.

TV3’s group financial statements show a rise in full-year revenues from €57.3m to €58.6m; and EBITDA (earnings before interest, tax, depreciation and amortisation) going from €4.3m to €5.5m. However, after bank interest of €2.5m and non-cash items, the broadcaster reported a loss of €6.8m.

Group chief executive David McRedmond called the performance — which also saw operating profits (before exceptional items) rise from €2.7m to €3.3m and new businesses like TV3.ie and sister channel, 3e continue to grow — “amongst the best in Irish media” and “a credit to a low-cost, efficient and creative operation”.