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STV Group (STVG) investor relations material
STV Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Group revenue fell 27% year-over-year to £66.1m, mainly due to a sharp decline in Studios revenue, partially offset by a 5% increase in total advertising revenue driven by the FIFA World Cup and the launch of STV Radio.
Adjusted operating profit declined 12% to £5.9m, but adjusted operating margin improved to 8.9% from 7.4% due to cost savings and higher-margin advertising.
Statutory operating loss was £20.5m, reflecting a £25.4m non-cash impairment in Studios amid market uncertainty.
Management prioritized efficiency, cost savings, and cash generation, with no interim dividend proposed to maintain financial flexibility.
Financial highlights
Total revenue declined 27% year-over-year to £66.1m; Studios revenue dropped 63% to £15.5m, while Audience revenue grew 6% to £50.6m.
Total advertising revenue rose 5% to £48.1m, driven by strong national ad performance around the FIFA World Cup.
Digital revenue increased 13% to £12.2m, with STV Radio contributing for the first time.
Adjusted EPS was 7.1p per share, flat year-over-year.
Loss for the period was £22.3m, with statutory basic EPS at (45.8)p.
Outlook and guidance
Q3 total advertising revenue is forecast to decline by 5%.
Studios FY26 expected to breakeven, with FY27 profit dependent on key commissioning decisions.
Net debt at year end projected between £40m and £45m.
No interim dividend proposed; position to be reviewed at full-year results.
Pension contributions of £8m due in Dec 2027, then £10m annually thereafter.
- Studios and Digital diversification offset ad weakness as a new growth plan targets 2026 expansion.STVG
H2 2023 - Q2 advertising revenue is set to rise 10% on World Cup demand, offsetting market softness.STVG
Trading update - Revenue and profit fell sharply, but digital and cost-saving strategies drive 2026 optimism.STVG
H2 2025 - 2025 revenue and profit meet guidance, with cost savings offsetting weak ad markets.STVG
Q4 2025 TU - Revenue steady at £90m; profit down 37% as Studios growth offsets ad decline, no interim dividend.STVG
H1 2025 - Revenue and profit forecasts cut amid market headwinds, with cost savings and strategy in focus.STVG
Trading Update - Revenue and profit surged, Studios order book hit £101m, and digital growth accelerated.STVG
H1 2024 - 2030 plan: double Studios revenue, expand digital/audio, and launch AI-driven ad platform.STVG
CMD 2025 - Revenue up 12% and profit up 3% as studios and digital drive growth amid market challenges.STVG
H2 2024
Next STV Group earnings date
Next STV Group earnings date
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