BRITISH SKY BROADCASTING GROUP PLC Results for the twelve months ended 30 June 2008 Strong operational and financial performance Operational performance for the quarter: On track, churn reduces to 9.8% - Net customer growth in the quarter of 92,000 to 8.980 million - New customer additions of 310,000 - Reduction in churn to 9.8% - ARPU increases to GBP427 - Total gross product sales of over 1.2 million in the fourth quarter included: - Sky+ net growth of 321,000 to 3.714 million - Multiroom net growth of 33,000 to 1.604 million - Sky+ HD net growth of 33,000 to 498,000 - Broadband net growth of 200,000 to 1.628 million - Sky Talk net growth of 146,000 to 1.241 million Financial performance for the year: Strong top-line growth, well positioned for 2009 - 11% growth in retail subscription revenue to GBP3,769 million - Group revenue of GBP4,952 million up 9% on the prior year(1) - Adjusted operating profit of GBP752 million(2) - Operating profit of GBP724 million included GBP162 million of investment in broadband and telephony, GBP22 million of investment in Easynet and exceptional charges of GBP28 million - Adjusted EBITDA of GBP998 million(3) - Adjusted earnings per share of 25.1 pence(4); reported loss per share of 7.3 pence (2007: 28.4 pence) - 8% increase in full-year dividend to 16.75 pence per share (1) Year ended 30 June 2007 (2) Adjusted operating profit for the year, excludes exceptional operating charges of GBP21 million relating to EDS legal costs and GBP7 million relating to a restructuring cost (3) Adjusted EBITDA is operating profit stated before exceptional operating charges of GBP28 million and depreciation of GBP246 million (4) Adjusted EPS stated before exceptional operating charges of GBP28 million, an impairment of GBP616 million relating to the Group's investment in ITV, a GBP67 million gain relating to an exchange transaction for National Geographic, GBP3 million gain relating to mark-to-market in derivative financial instruments that do not qualify for hedge accounting and related tax adjustments of GBP8 million Jeremy Darroch, Chief Executive, said:"We have continued to grow strongly in a more difficult consumer environment. More customers are choosing Sky for a broader range of products and are staying with us for longer. "While there is much uncertainty around the consumer environment, there remains good headroom for profitable growth in our core sectors. We are well equipped to meet customers' demands for quality, choice and value; and we have a strong financial model to deliver growth and returns." Enquiries: Analysts/Investors: Robert Kingston Tel: 020 7705 3726 Francesca Pierce Tel: 020 7705 3337 E-mail: investor-relations@bskyb.com Press: Robert Fraser Tel: 020 7705 3036 Bella Vuillermoz Tel: 020 7800 2651 E-mail: corporate.communications@bskyb.com There will be a presentation to analysts and investors at 9:30 a.m. (BST) today at Rich Mix, 35 - 47 Bethnal Green Road, London E1 6LA. A live webcast of this presentation will be available today on Sky's corporate website, which can be found at www.sky.com/corporate. A conference call for US analysts and investors will be held at 10:00 a.m. (EST) today. Details of this call have been sent to North American institutions and can be obtained from Dana Johnston at Taylor Rafferty on +1 212 889 4350. A live webcast of this call will be available today on Sky's corporate website, which can be found at www.sky.com/corporate . An interview with Jeremy Darroch, CEO, and Andrew Griffith, CFO, in audio / video and transcript will be available from 7:00 a.m. (BST) today at www.sky.com/corporate and www.cantos.com. Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/2757A_-2008-7-31.pdf This information is provided by RNS The company news service from the London Stock Exchange END
Contact Information: Contacts: RNS Customer Services 0044-207797-4400 http://www.rns.com