RTVE's deficit in 2013 exceeded 113 million euros

Revenues below budget (92.3 million), mainly due to the decrease in contributions from television and telecommunications operators, hampered the Corporation's fiscal year.

This Wednesday, the Board of Directors of RTVE formulated the Corporation's accounts for 2013. The deficit recorded in RTVE's accounts in that year amounts to 113.3 million euros.

This figure is the result of lower income than expected (92.3 million), largely determined by the decrease in contributions from television and telecommunications operators destined to finance the RTVE Corporation, and higher spending than budgeted (21 million).

Lower income

The income figure has been reduced by 92.3 million euros compared to the initial forecast, an amount that represents 81.5% of the deficit.

Fiscal year 2013 thus closes with 860 million euros in income, compared to the 926 million obtained in 2012 and the 1,200 million obtained in fiscal year 2011, an amount that corresponds precisely to the expenditure figure planned for RTVE in the current Financing Law of 2009.

Regarding the budgeted figure, the contribution of telecommunications and television operators has been reduced by 72 million euros. In part, due to the negative evolution in the billing of operators (including the exclusion of some of them as obliged to pay); and in part, also, thanks to the cancellation of the complementary settlements issued to television and telecommunications operators agreed to last January. The cancellation of the settlements has prevented the amount of 114 million euros from being recorded as income in 2013.

More cats than budgeted

The total expense figure has risen to 960 million euros, which represents a saving of 7.4% compared to the previous year.

Among the items that affect exceeding the budgeted expenditure figure, the one allocated to the acquisition of audiovisual content necessary to complete the programming grid stands out. The aforementioned expenses, which amount to 215.3 million, have increased by 47.2 million euros, due in part to the new accounting criteria for television programs. For the first time, the cost of sponsored programs has been recorded in 2013 with a higher expense and, correspondingly, with a higher income, also accruing the corresponding VAT.

For its part, expenses on general consumption (237 million) represent a saving of 12.3% compared to the previous year (€270 million).

Likewise, 26.1 million euros of accounting loss have been recorded in the value of the real estate assets owned by RTVE. This item does not carry cash flow and represents an accounting expense. In this way, the accumulated capital loss of RTVE properties at the end of the year amounts to 387.7 million euros.

In the expenses chapter, the savings obtained in terms of personnel also stand out, 6.1 million euros, as a result of the reduction of the organic structure and the measures applied after the signing of the Collective Agreement. In this expenditure chapter, the Corporation expects imminent savings associated with the signing of the agreement, whose entry into force in November of last year has not yet allowed the expected reflection at the close of the 2013 financial year.