Bittersweet results of RTVE. The public entity closed the 2022 financial year with a surplus of 17.2 million euros, which manages to chain two consecutive years with positive results, after leaving behind the red numbers in 2021. However, in the year of the Qatar World Cup, the corporation earned almost half of the previous year, when it reached 30 million euros.

It should be remembered that of the 32 million euros that RTVE paid to Mediapro for the rights of the Qatar World Cup, it barely entered just over one million euros, complying with the regulations of the CNMC by which the public entity could not sell advertising to sponsors that were not Fifa.

The decrease in profits compared to 2021 does not detract, however, the surplus of more than 17 million achieved in 2022, in contrast to the hole of 31.6 million recorded in 2020 and the losses of 29.6 million in 2019. Now it accumulates two years with profits and that is good news for the corporation.

As explained by the company in a statement, with the profit obtained last year, the endowment of the Reserve Fund will be expanded, as foreseen in the RTVE financing model, improving the company's equity situation.

It has also pointed out that the income from the subsidy for the compensation of public service and those from the fee for reservation of the radio space have remained as budgeted, while the income from the contributions of television and telecommunications operators have been reduced by 4.5% compared to the previous year.

Business revenues fall

Commercial revenues, meanwhile, have experienced a reduction of 2.4%. "The drop in revenues from cultural and sports sponsorships has been compensated, in part, by the improvement in revenues from the sale of channels in the international market and sale of programs," said the company.

On the other hand, the note states that "RTVE has fulfilled its expenditure budget, with a budget execution close to 100%". "Operating expenses have been reduced by 11% compared to the previous year, with 2021 being an Olympic Games year," he adds.

The external expenditure of the programming that has been offered to citizens has increased by 10%, excluding the effect of the Olympic Games, "highlighting the extensive news coverage of the war in Ukraine and the broadcast of the men's soccer World Cup in Qatar", explain from the company.

On the other hand, the costs linked to the emission together with the indirect ones have been reduced by 2.41%, absorbing the strong price increases in electricity and gas supplies.

Less personnel expense

At the same time, personnel costs were 2.8% lower than the previous year. This is explained by the fact that the salary increases of 3.5% approved for public employees during the year have been taken into account and at the same time the incentive severance plan has continued.

In turn, in 2022 a special proportion has been applied on non-deductible input VAT that has reduced the expenditure of the year for this concept, which has allowed resources to be allocated to other items.

Finally, the company has transferred that the debt throughout the year has reached 247.4 million euros, which represents a reduction of 39% compared to the figure approved in the General State Budget.

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