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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Grupo Televisa SA | NYSE:TV | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.18 | 6.02% | 3.17 | 3.1875 | 3.02 | 3.02 | 1,242,659 | 01:00:00 |
|
Investor
Relations
PRESS
RELEASE
|
•
|
Revenues reached Ps.22.4 billion
|
•
|
Operating Segment Income (“OSI”) margin reached 35.8%
|
•
|
Standard & Poor´s and Fitch Ratings ratified Televisa’s BBB+ ratings
|
•
|
Strong demand for connectivity services due to social distancing policies
|
•
|
Other Businesses segment significantly impacted by the shut down of the economy
|
•
|
Record growth of 494 thousand Revenue Generating Units (“RGUs”)
|
•
|
New record in broadband RGUs net adds of 252 thousand for a single quarter
|
•
|
Strong top line growth of 10.7% and OSI growth of 4.1%
|
•
|
Launched izzi Móvil, a MVNO (Mobile Virtual Network Operator)
|
•
|
72 thousand new broadband RGUs reaching over 500 thousand
|
•
|
5th consecutive quarter of growth in video RGUs after adding 20 thousand
|
•
|
Revenues grew 3.1%, the fastest pace of growth in 13 quarters
|
•
|
OSI resumed growth, reaching Ps.2.3 billion
|
•
|
Audience growth y-o-y of 18%1 in our flagship network
|
•
|
Advertising revenue drop of 33.1% due to shut down of economy
|
•
|
Revenues were down 16.3% and OSI margin reached 30.9%
|
•
|
Savings from cost and expenses reduction program of Ps.462 million
|
|
2Q’20
|
Margin
|
2Q’19
|
Margin
|
Change
|
%
|
%
|
%
|
|||
Net sales
|
22,407.2
|
100.0
|
24,307.6
|
100.0
|
(7.8)
|
Net income
|
1,989.4
|
8.9
|
1,263.4
|
5.2
|
57.5
|
Net income attributable to stockholders of the Company
|
1,739.5
|
7.8
|
919.1
|
3.8
|
89.3
|
Segment net sales
|
24,131.2
|
100.0
|
25,339.5
|
100.0
|
(4.8)
|
Operating segment income (1)
|
8,636.3
|
35.8
|
9,856.4
|
38.9
|
(12.4)
|
(1)
|
The operating segment income margin is calculated as a percentage of segment net sales.
|
i.
|
a Ps.2,179.6 million decrease in finance expense, net; and
|
ii.
|
a Ps.94.4 million decrease in net income attributable to non-controlling interests.
|
i.
|
a Ps.1,251.4 million decrease in operating income before depreciation and amortization and other expense, net;
|
ii.
|
a Ps.154.9 million increase in depreciation and amortization;
|
iii.
|
a Ps.10.5 million increase in other expense, net;
|
iv.
|
a Ps.26.2 million decrease in share of income of associates and joint ventures, net; and
|
v.
|
a Ps.10.6 million increase in income taxes.
|
Net Sales
|
2Q’20
|
%
|
2Q’19
|
%
|
Change
%
|
Cable
|
11,308.8
|
46.9
|
10,215.7
|
40.3
|
10.7
|
Sky
|
5,514.7
|
22.9
|
5,348.1
|
21.1
|
3.1
|
Content
|
6,740.6
|
27.9
|
8,050.0
|
31.8
|
(16.3)
|
Other Businesses
|
567.1
|
2.3
|
1,725.7
|
6.8
|
(67.1)
|
Segment Net Sales
|
24,131.2
|
100.0
|
25,339.5
|
100.0
|
(4.8)
|
Intersegment Operations1
|
(1,799.8)
|
(1,252.7)
|
|||
Net Sales
|
22,331.4
|
|
24,086.8
|
|
(7.3)
|
Held-for-sale Operations 2
|
75.8
|
n/a
|
220.8
|
n/a
|
(65.7)
|
Net Sales
|
22,407.2
|
|
24,307.6
|
|
(7.8)
|
Operating Segment Income3
|
2Q’20
|
Margin
%
|
2Q’19
|
Margin
%
|
Change
%
|
Cable
|
4,656.5
|
41.2
|
4,473.7
|
43.8
|
4.1
|
Sky
|
2,321.4
|
42.1
|
2,305.6
|
43.1
|
0.7
|
Content
|
2,080.8
|
30.9
|
2,928.3
|
36.4
|
(28.9)
|
Other Businesses
|
(422.4)
|
(74.5)
|
148.8
|
8.6
|
n/a
|
Operating Segment Income
|
8,636.3
|
35.8
|
9,856.4
|
38.9
|
(12.4)
|
Corporate Expenses
|
(366.0)
|
(1.5)
|
(439.2)
|
(1.7)
|
16.7
|
Depreciation and Amortization
|
(5,234.1)
|
(23.4)
|
(5,079.2)
|
(20.9)
|
(3.0)
|
Other Expense, net
|
(293.5)
|
(1.3)
|
(283.0)
|
(1.2)
|
(3.7)
|
Intersegment Operations
|
(19.9)
|
(0.1)
|
(16.7)
|
(0.1)
|
(19.2)
|
Held-for-sale Operations 2
|
(29.6)
|
n/a
|
71.7
|
n/a
|
n/a
|
Operating Income
|
2,693.2
|
12.0
|
4,110.0
|
16.9
|
(34.5)
|
RGUs
|
2Q’20 Net Adds
|
2Q’20
|
2Q’19
|
Video
|
27,420
|
4,335,478
|
4,387,007
|
Broadband
|
252,174
|
5,069,277
|
4,640,275
|
Voice
|
214,528
|
3,998,047
|
3,385,387
|
Total RGUs
|
494,122
|
13,402,802
|
12,412,669
|
MSO Operations (1)
Millions of Mexican pesos
|
2Q’20
|
2Q’19
|
Change %
|
Revenue
|
9,928.9
|
9,216.8
|
7.7
|
Operating Segment Income
|
4,174.3
|
4,059.8
|
2.8
|
Margin (%)
|
42.0
|
44.0
|
|
Enterprise Operations (1)
Millions of Mexican pesos
|
2Q’20
|
2Q’19
|
Change %
|
Revenue
|
1,789.0
|
1,412.8
|
26.6
|
Operating Segment Income
|
625.9
|
521.9
|
19.9
|
Margin (%)
|
35.0
|
36.9
|
|
(1)
|
These results do not include consolidation adjustments of Ps.409.1 million in revenues nor Ps.143.7 million in operating segment income for second quarter 2020, neither the consolidation adjustments of Ps.413.9 million in revenues nor Ps.108.0 million in operating segment income for second quarter 2019. Consolidation adjustments are considered in the consolidated results of the Cable segment. |
RGUs
|
2Q’20 Net Adds
|
2Q’20
|
2Q’19
|
Video
|
19,693
|
7,457,162
|
7,393,726
|
Broadband
|
72,017
|
502,429
|
238,361
|
Voice
|
(107)
|
945
|
1,329
|
Total RGUs
|
91,603
|
7,960,536
|
7,633,416
|
Millions of Mexican pesos
|
2Q’20
|
%
|
2Q’19
|
%
|
Change %
|
Advertising
|
2,922.2
|
43.3
|
4,370.3
|
54.3
|
(33.1)
|
Network Subscription
|
1,400.7
|
20.8
|
1,206.0
|
15.0
|
16.1
|
Licensing and Syndication
|
2,417.7
|
35.9
|
2,473.7
|
30.7
|
(2.3)
|
Net Sales
|
6,740.6
|
|
8,050.0
|
|
(16.3)
|
Other income (expense), net
|
2Q’20
|
2Q’19
|
Cash
|
3.2
|
(257.6)
|
Non-cash
|
(296.7)
|
(25.4)
|
Total
|
(293.5)
|
(283.0)
|
2Q’20
|
2Q’19
|
(Increase)
decrease
|
|
Interest expense
|
(2,885.1)
|
(2,576.3)
|
(308.8)
|
Interest income
|
451.8
|
349.0
|
102.8
|
Foreign exchange gain, net
|
2,351.2
|
325.0
|
2,026.2
|
Other finance expense, net
|
(6.8)
|
(366.2)
|
359.4
|
Finance expense, net
|
(88.9)
|
(2,268.5)
|
2,179.6
|
(i)
|
a Ps.2,026.2 million increase in foreign exchange gain, net, resulting primarily from the favorable effect of a 3.5% appreciation of the Mexican peso against the U.S. dollar in second-quarter 2020 compared
with a 1.2% appreciation in second-quarter 2019, on a higher average net U.S. dollar liability position;
|
(ii)
|
a Ps.359.4 million decrease in other finance expense, net, resulting from a lower loss in fair value of our derivative contracts in second-quarter 2020; and
|
(iii)
|
a Ps.102.8 million increase in interest income explained primarily by a higher average amount of cash and cash equivalents in second-quarter 2020.
|
Capital Expenditures
Millions of U.S.$
|
2Q’20
|
2Q’19
|
Cable
|
135.9
|
187.3
|
Sky
|
53.8
|
38.0
|
Content and Other Businesses
|
6.7
|
14.3
|
Total
|
196.4
|
239.6
|
June 30,
2020
|
December 31,
2019
|
Increase
(decrease)
|
|
Current portion of long-term debt
|
617.0
|
491.9
|
125.1
|
Long-term debt, net of current portion
|
153,204.7
|
120,444.7
|
32,760.0
|
Total debt1
|
153,821.7
|
120,936.6
|
32,885.1
|
Current portion of lease liabilities
|
1,486.3
|
1,257.8
|
228.5
|
Long-term lease liabilities, net of current portion
|
8,593.0
|
8,105.8
|
487.2
|
Total lease liabilities
|
10,079.3
|
9,363.6
|
715.7
|
Current portion of other notes payable
|
-
|
1,324.1
|
(1,324.1)
|
Total other notes payable
|
-
|
1,324.1
|
(1,324.1)
|
Total debt, lease liabilities and other notes payable
|
163,901.0
|
131,624.3
|
32,276.7
|
June 30,
|
December 31,
|
|||||||
2020
|
2019
|
|||||||
ASSETS
|
(Unaudited)
|
(Audited)1
|
||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
Ps.
|
45,481.8
|
Ps.
|
27,452.3
|
||||
Trade notes and accounts receivable, net
|
22,927.1
|
14,486.2
|
||||||
Other accounts and notes receivable, net
|
11,843.6
|
10,692.9
|
||||||
Derivative financial instruments
|
1,438.7
|
1.7
|
||||||
Due from related parties
|
769.9
|
814.4
|
||||||
Transmission rights and programming
|
6,259.0
|
6,479.3
|
||||||
Inventories
|
1,290.8
|
1,151.4
|
||||||
Contract costs
|
1,397.1
|
1,379.4
|
||||||
Assets held for sale
|
1,675.1
|
1,675.4
|
||||||
Other current assets
|
4,641.5
|
3,298.1
|
||||||
Total current assets
|
97,724.6
|
67,431.1
|
||||||
Non-current assets:
|
||||||||
Derivative financial instruments
|
25.8
|
2.9
|
||||||
Transmission rights and programming
|
8,080.4
|
7,901.6
|
||||||
Investments in financial instruments
|
29,658.6
|
44,265.9
|
||||||
Investments in associates and joint ventures
|
6,453.9
|
9,762.4
|
||||||
Property, plant and equipment, net
|
82,897.0
|
83,329.2
|
||||||
Right-of-use assets
|
7,165.8
|
7,553.1
|
||||||
Intangible assets, net
|
42,949.3
|
43,329.0
|
||||||
Deferred income tax assets
|
31,840.1
|
24,185.1
|
||||||
Contract costs
|
2,642.5
|
2,311.8
|
||||||
Other assets
|
203.4
|
271.8
|
||||||
Total non-current assets
|
211,916.8
|
222,912.8
|
||||||
Total assets
|
Ps.
|
309,641.4
|
Ps.
|
290,343.9
|
||||
June 30,
|
December 31,
|
|||||||
2020
|
2019
|
|||||||
LIABILITIES
|
(Unaudited)
|
(Audited)
|
||||||
Current liabilities:
|
||||||||
Current portion of long-term debt
|
Ps.
|
617.0
|
Ps.
|
491.9
|
||||
Interest payable
|
2,315.6
|
1,943.9
|
||||||
Current portion of lease liabilities
|
1,486.3
|
1,257.8
|
||||||
Current portion of other notes payable
|
-
|
1,324.1
|
||||||
Derivative financial instruments
|
-
|
568.8
|
||||||
Trade accounts payable and accrued expenses
|
26,453.8
|
20,909.7
|
||||||
Customer deposits and advances
|
13,333.7
|
5,779.8
|
||||||
Other advances related to the Radiopolis' sale
|
713.4
|
-
|
||||||
Income taxes payable
|
1,718.6
|
2,470.2
|
||||||
Other taxes payable
|
4,292.8
|
3,448.0
|
||||||
Employee benefits
|
1,123.5
|
911.9
|
||||||
Due to related parties
|
433.9
|
644.2
|
||||||
Liabilities related to assets held for sale
|
374.6
|
432.8
|
||||||
Other current liabilities
|
2,449.6
|
2,202.9
|
||||||
Total current liabilities
|
55,312.8
|
42,386.0
|
||||||
Non-current liabilities:
|
||||||||
Long-term debt, net of current portion
|
153,204.7
|
120,444.7
|
||||||
Lease liabilities, net of current portion
|
8,593.0
|
8,105.8
|
||||||
Derivative financial instruments
|
1,493.7
|
346.6
|
||||||
Income taxes payable
|
753.8
|
1,759.7
|
||||||
Deferred income tax liabilities
|
2,925.9
|
7,052.2
|
||||||
Post-employment benefits
|
1,531.9
|
1,468.1
|
||||||
Other long-term liabilities
|
3,101.8
|
3,376.6
|
||||||
Total non-current liabilities
|
171,604.8
|
142,553.7
|
||||||
Total liabilities
|
226,917.6
|
184,939.7
|
||||||
EQUITY
|
||||||||
Capital stock
|
4,907.8
|
4,907.8
|
||||||
Additional paid-in-capital
|
15,889.8
|
15,889.8
|
||||||
20,797.6
|
20,797.6
|
|||||||
Retained earnings:
|
||||||||
Legal reserve
|
2,139.0
|
2,139.0
|
||||||
Unappropriated earnings
|
80,374.3
|
75,666.1
|
||||||
Net (loss) income for the period
|
(7,912.4
|
)
|
4,626.1
|
|||||
74,600.9
|
82,431.2
|
|||||||
Accumulated other comprehensive (loss) income, net
|
(14,805.2
|
)
|
1,320.4
|
|||||
Shares repurchased
|
(13,904.3
|
)
|
(14,018.8
|
)
|
||||
45,891.4
|
69,732.8
|
|||||||
Equity attributable to stockholders of the Company
|
66,689.0
|
90,530.4
|
||||||
Non-controlling interests
|
16,034.8
|
14,873.8
|
||||||
Total equity
|
82,723.8
|
105,404.2
|
||||||
Total liabilities and equity
|
Ps.
|
309,641.4
|
Ps.
|
290,343.9
|
||||
Three months ended June 30,
|
Six months ended June 30,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||
Net sales
|
Ps.
|
22,407.2
|
Ps.
|
24,307.6
|
Ps.
|
45,635.9
|
Ps.
|
47,702.8
|
||||||||
Cost of sales
|
13,941.8
|
13,815.4
|
27,679.8
|
27,079.4
|
||||||||||||
Selling expenses
|
2,538.4
|
2,782.6
|
5,256.4
|
5,546.9
|
||||||||||||
Administrative expenses
|
2,940.3
|
3,316.6
|
6,571.3
|
7,024.2
|
||||||||||||
Income before other expense
|
2,986.7
|
4,393.0
|
6,128.4
|
8,052.3
|
||||||||||||
Other expense, net
|
(293.5
|
)
|
(283.0
|
)
|
(8.6
|
)
|
(471.9
|
)
|
||||||||
Operating income
|
2,693.2
|
4,110.0
|
6,119.8
|
7,580.4
|
||||||||||||
Finance expense
|
(2,891.9
|
)
|
(2,942.5
|
)
|
(11,663.5
|
)
|
(5,652.1
|
)
|
||||||||
Finance income
|
2,803.0
|
674.0
|
2,867.0
|
1,109.5
|
||||||||||||
Finance expense, net
|
(88.9
|
)
|
(2,268.5
|
)
|
(8,796.5
|
)
|
(4,542.6
|
)
|
||||||||
Share of income (loss) of associates and joint ventures, net
|
137.6
|
163.8
|
(5,211.0
|
)
|
329.6
|
|||||||||||
Income (loss) before income taxes
|
2,741.9
|
2,005.3
|
(7,887.7
|
)
|
3,367.4
|
|||||||||||
Income taxes (expense) benefits
|
(752.5
|
)
|
(741.9
|
)
|
973.4
|
(1,245.9
|
)
|
|||||||||
Net income (loss)
|
Ps.
|
1,989.4
|
Ps.
|
1,263.4
|
Ps.
|
(6,914.3
|
)
|
Ps.
|
2,121.5
|
|||||||
Net income (loss) attributable to:
|
||||||||||||||||
Stockholders of the Company
|
Ps.
|
1,739.5
|
Ps.
|
919.1
|
Ps.
|
(7,912.4
|
)
|
Ps.
|
1,460.8
|
|||||||
Non-controlling interests
|
249.9
|
344.3
|
998.1
|
660.7
|
||||||||||||
Net income (loss)
|
Ps.
|
1,989.4
|
Ps.
|
1,263.4
|
Ps.
|
(6,914.3
|
)
|
Ps.
|
2,121.5
|
|||||||
Basic earnings (loss) per CPO attributable to stockholders of the Company
|
Ps.
|
0.61
|
Ps.
|
0.32
|
Ps.
|
(2.78
|
)
|
Ps.
|
0.51
|
|||||||
|
|
GRUPO TELEVISA, S.A.B.
|
||||
|
|
(Registrant)
|
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Dated: July 10, 2020
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By
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/s/ Luis Alejandro Bustos Olivares
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Name:
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Luis Alejandro Bustos Olivares
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Title:
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Legal Vice President and General Counsel
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1 Year Grupo Televisa Chart |
1 Month Grupo Televisa Chart |
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