MONTREAL – TVA Group Inc. announced yesterday its second quarter results, which show a year-over-year operating revenue increase of $55.6 million to $159.4 million.
The company also reported a consolidated adjusted EBITDA of just under $14 million, which is a $6.6 million “favourable variance from the same quarter of 2020,” according to a company press release. TVA’s broadcasting segment reported $6.6 million in adjusted EBITDA, a $3.1 million “favourable variance due to the increased in adjusted EBITDA at TVA Network, which posted growth in its advertising revenues, partially offset by higher negative adjusted EBITDA at “TVA Sports” due to the increased costs associated with sporting events broadcast by the channel, particularly the National Hockey League (“NHL”) playoffs.”
Advertising revenues at TVA Network and TVA’s specialty channels increased for the second straight quarter over the previous quarter. “Another encouraging sign of growth is that advertising revenues also rose compared with the same quarter of 2019, before the effects of the public health crisis,” said Pierre Karl Péladeau, acting President and CEO of TVA Group, in the press release.
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