RTVE closes 2012 with a deficit of 113 million

RTVE's deficit in 2012 amounts to 112.98 million euros due to higher expenses (73.54) and lower income (40.25) than expected.

This Wednesday, the Board of Directors of RTVE formulated the Corporation's accounts for 2012.

The deficit recorded in RTVE's accounts in that year amounts to 112.98 million euros. It is the result of higher spending than budgeted (73.54 million) and lower income than expected (40.25 million), largely due to the current circumstances affecting television and telecommunications operators.

As a novelty in this exercise, the qualifications that had been included in the report of the External Auditor of Accounts since 2007 have been eliminated.

More expenses

Las partidas que suponen un mayor gasto justifican 73,54 millones de euros (65% del déficit). Destaca especialmente la destinada a contenidos audiovisuales para poder completar la parrilla de programación: 54,5 millones de euros, de los que 30 millones habían sido ya generados hasta el 30 de junio de 2012. Como consecuencia de la eliminación de las salvedades que tenían los informes de las auditorías de cuentas de la Corporación RTVE, se han registrado 32,2 millones en la cuenta de resultados producidos por el deterioro en 2012 del valor de los activos inmobiliarios contabilizados en el balance. Esta partida no conlleva flujo de caja, representa un gasto contable.

In the expenses chapter, the savings obtained in terms of personnel stand out: almost 27 million euros, of which 19 come from extra pay and 7.63 from the measures adopted by the management team.

The VAT paid, which represents an expense for the Corporation, has amounted to 97 million euros, practically 90% of the total deficit. It represents an expense as it cannot apply, like the rest of the operators, the deduction regime established in the VAT Law.

Less income

The other 40.25 million euros of the deficit (35%) come from a lower volume of income than expected, mainly due to lower contributions from telecommunications and television operators.

Specifically, 33.9 million come from this item: almost 12.5 million euros from the lower billing of TV and telecom operators and 21.4 million euros from the complementary settlements to be made by the CMT to the television operators that have not been accounted for because they are being appealed before the courts.

In the income chapter, we must also mention 3.9 million euros due to lower collection of the radio spectrum domain tax and 3.7 million due to a decrease in sales.