In 2018 Yle’s economy remained balanced.
Net turnover EUR 471.6 million
PY change - 0.1 %
Cost and amortisation EUR 481.8 million
PY change 3.0 %
Loss for the financial year EUR 5.5 million
PY profit EUR 6.9 million
In accordance with the guidelines set by the Administrative Council, the annual fluctuations in the company’s result must offset each other so that the financial standing remains balanced.
The fluctuations in the result mainly arise from major sport events that are organised every two years.
Yle’s cost structure in 2018, tot. 481.8 million euros
- 79% Content and services (€381.8 million)
- 11% Technology and infrastructure (€54.4 million)
- 5% Depreciation (€23.3 million)
- 4% Joint operations and administration (€21.6 million)
- 1% Sales (€0.6 million)
Content and services in 2018, tot. 381.8 million euros
- 22% Culture and Entertainment (€82.8 million)
- 19% National News and Current Affairs (€72.4 million)
- 14% Factual (€54.3 million
- 14% Drama (€52.5 million)
- 13% Sport (€50.7 million)
- 12% Regional News and Current Affairs (€47 million)
- 6% Children and Youth (€22.2 million)
*) The shares of the content units of 2018 are not entirely comparable to 2017 because the data has been elaborated.
Key figures
| 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|
| SCOPE OF OPERATIONS (EUR million / %) | |||||
| Net turnover | 471,6 | 472,3 | 470,9 | 467,8 | 472,9 |
| Change, % | -0,1 | 0,3 | 0,7 | -1,1 | 1,5 |
| Other operating income | 2,7 | 2,7 | 2,3 | 4,2 | 2,6 |
| Change, % | -0,4 | 18,2 | -45,9 | 63,1 | -20,0 |
| Cost and amortisation | 481,8 | 467,9 | 476,1 | 468,5 | 480,0 |
| Change, % | 3,0 | -1,7 | 1,6 | -2,4 | 3,3 |
| Balance sheet total * | 315,4 | 296,4 | 286,1 | 290,5 | 292,5 |
| Gross capital investments, tangible and intangible assets ** | 17,7 | 19,8 | 25,6 | 21,7 | 26,9 |
| % of net turnover | 3,7 | 4,2 | 5,4 | 4,6 | 5,7 |
| PROFITABILITY (EUR million / %) | |||||
| EBITDA | 69,3 | 83,4 | 74,2 | 76,0 | 81,1 |
| % of net turnover | 14,7 | 17,7 | 15,8 | 16,2 | 17,2 |
| Operating profit (loss) | -7,5 | 7,0 | -2,9 | 3,6 | -4,4 |
| % of net turnover | -1,6 | 1,5 | -0,6 | 0,8 | -0,9 |
| Profit (loss) for the financial year | -5,5 | 6,9 | -2,9 | 1,3 | -4,7 |
| % of net turnover | -1,2 | 1,5 | -0,6 | 0,3 | -1,0 |
| FINANCING AND FINANCIAL POSITION | |||||
| Quick ratio * | 0,4 | 0,5 | 0,4 | 0,3 | 0,4 |
| Equity ratio, % * | 41,0 | 45,5 | 44,7 | 45,0 | 44,3 |
| Interest-bearing liabilities (EUR million) | 48,8 | 41,2 | 50,2 | 55,9 | 62,5 |
| PERSONNEL | |||||
| Average number of personnel years | |||||
| during the period *** | 3309 | 3333 | 3490 | 3555 | 3695 |
| Wages, salaries (EUR million) | 167,8 | 166,6 | 171,5 | 173,3 | 175,5 |
| Fees (EUR million) | 13,1 | 12,3 | 12,1 | 11,9 | 12,9 |
| Wages, salaries and fees total (EUR million) | 180,9 | 178,9 | 183,7 | 185,2 | 188,5 |
Quick ratio =
Current assets
Current liabilities
Equity ratio =
Equity
Balance sheet total
x 100
* The method of presentation of intangible rights and liabilities was changed during the financial year. The acquisition cost of broadcasting rights is recognised in intangible rights once the rights and obligations related to the broadcasting rights have been transferred to the company. Previously, broadcasting rights were recognised in intangible rights to the extent that they had been paid and in offbalance sheet liabilities to the extent that they had not been paid. The change affects the key indicators presented and the essential parts of the comparison data were changed to match the new practice.
** Excluding broadcasting right acquisitions
*** Includes permanent, fixed-term, hourly and performance-based employment relationships.
The vitality of the creative sector
According to the profit and loss account Yle used (year 2017):
- EUR 89.1 million for the broadcasting and copyright fees and other expenses (88.0)
- EUR 26.5 million for the domestic purchased programmes in various media (30.1)
- EUR 27.0 million for the broadcasting fees for sports and foreign programmes (21.0)
- EUR 35.6 million in the broadcasting fees related to music and radio, broadcasting right fees, rebroadcasting fees and other rights fees related to programmes (36.8).
- We used EUR 71.0 million in external services (63.6) includes information technology services, production services, property management services, repair, maintenance and other services.