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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Grupo Televisa SA CV (PK) | USOTC:GRPFF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.65 | 0.3187 | 16.58 | 0.00 | 21:05:21 |
1.
|
COVID-19 Pandemic may have a material adverse effect on our business, financial position and results of operations.
|
2.
|
We cannot predict what effects the COVID-19 relief plan recently announced by the Mexican Federal Government will have in our
results of operations and the overall economy.
|
3.
|
Imposition of fines by regulators and other authorities could adversely affect our financial condition and results of operations
|
4.
|
Social Security Law
|
5.
|
Federal Labor Law
|
6.
|
Mexican tax laws
|
7.
|
Regulations of the General Health Law on advertising
|
8.
|
Changes in U.S. tax law
|
9.
|
Mexican Securities Market Law
|
10.
|
Renewal or revocation of our concessions
|
●
|
Control of a stockholder
|
●
|
Measures for the prevention of the taking of control
|
●
|
Competition
|
●
|
Seasonal nature of our business
|
●
|
Loss of transmission or loss of the use of satellite transponders
|
●
|
Incidents affecting our network and information systems or other technologies
|
●
|
Weaknesses in internal controls over financial reporting
|
●
|
Results of operations of UHI
|
●
|
Uncertainty in global financial markets
|
●
|
Currency fluctuations or the devaluation and depreciation of the Mexican peso
|
●
|
Renegotiation of the Trade Agreements or other changes in foreign policy by the new or currency presidential administration in the United States
|
●
|
Inflation Rates and High Interest Rates in Mexico
|
●
|
Political events in Mexico
|
Net Sales
|
1Q’22
|
%
|
1Q’21
|
%
|
Change
%
|
Cable
|
11,804.5
|
63.0
|
11,676.5
|
64.3
|
1.1
|
Sky
|
5,275.7
|
28.1
|
5,624.8
|
31.0
|
(6.2)
|
Other Businesses
|
1,661.1
|
8.9
|
859.5
|
4.7
|
93.3
|
Segment Net Sales
|
18,741.3
|
100.0
|
18,160.8
|
100.0
|
3.2
|
Intersegment Operations1
|
(132.1)
|
(138.5)
|
Net Sales
|
18,609.2
|
18,022.3
|
3.3
|
RGUs
|
1Q’22 Net
Adds
|
1Q’22
|
1Q’21
|
Video
|
89,041
|
4,255,501
|
4,246,101
|
Broadband
|
82,924
|
5,732,026
|
5,534,819
|
Voice
|
147,327
|
4,764,592
|
4,382,405
|
Mobile
|
16,927
|
172,978
|
93,574
|
Total RGUs
|
336,219
|
14,925,097
|
14,256,899
|
MSO Operations (1)
Millions of Mexican pesos
|
1Q’22
|
1Q’21
|
Change %
|
Revenue
|
10,820.6
|
10,465.4
|
3.4
|
Operating Segment Income
|
4,674.5
|
4,483.3
|
4.3
|
Margin (%)
|
43.2
|
42.8
|
|
RGUs
|
1Q’22 Net
Adds
|
1Q’22
|
1Q’21
|
Video
|
(163,829)
|
7,244,246
|
7,487,371
|
Broadband
|
(8,003)
|
719,223
|
697,948
|
Voice
|
(42)
|
559
|
727
|
Mobile
|
(3,346)
|
26,920
|
6,811
|
Total RGUs
|
(175,220)
|
7,990,948
|
8,192,857
|
Other expense, net
|
1Q’22
|
1Q’21
|
Cash
|
141.5
|
29.5
|
Non-cash
|
26.8
|
48.1
|
Total
|
168.3
|
77.6
|
1Q’22
|
1Q21
|
Favorable
(Unfavorable)
change
|
|
Interest expense
|
(2,805.9)
|
(2,305.5)
|
(500.4)
|
Interest income
|
338.9
|
181.1
|
157.8
|
Foreign exchange loss, net
|
(2,307.4)
|
(1,374.6)
|
(932.8)
|
Other finance expense, net
|
(115.3)
|
(117.0)
|
1.7
|
Finance expense, net
|
(4,889.7)
|
(3,616.0)
|
(1,273.7)
|
(i) |
a Ps.932.8 million increase in foreign exchange loss, net, resulting primarily from a 3.1% appreciation of the Mexican peso against the U.S. dollar on an average net
U.S. dollar asset position in the first quarter of 2022, in comparison with a 2.6% depreciation of the Mexican peso against the U.S. dollar on an average net U.S. dollar liability position in the first quarter of 2021; and
|
(ii) |
a Ps.500.4 million increase in interest expense, primarily due to finance expense incurred in the partial prepayment of our long-term debt in the first quarter of
2022, which included the difference between the redemption price and the principal amount of our partial redemption of Senior Notes due 2025, as well as related unamortized finance costs.
|
Capital Expenditures
Millions of U.S. Dollars
|
1Q’22
|
1Q’21
|
Cable
|
168.3
|
199.8
|
Sky
|
55.1
|
73.6
|
Other Businesses
|
1.8
|
1.7
|
Continuing operations
|
225.2
|
275.1
|
Discontinued operations
|
3.4
|
-
|
Total
|
228.6
|
275.1
|
March 31,
2022
|
December 31,
2021
|
Increase
(Decrease)
|
|
Current portion of long-term debt
|
1,549.6
|
4,106.4
|
(2,556.8)
|
Long-term debt, net of current portion
|
111,453.1
|
121,685.7
|
(10,232.6)
|
Total debt (1)
|
113,002.7
|
125,792.1
|
(12,789.4)
|
Current portion of long-term lease liabilities
|
1,475.6
|
1,478.4
|
(2.8)
|
Long-term lease liabilities, net of current portion
|
7,398.8
|
8,202.2
|
(803.4)
|
Total lease liabilities
|
8,874.4
|
9,680.6
|
(806.2)
|
Total debt and lease liabilities
|
121,877.1
|
135,472.7
|
(13,595.6)
|
(1) As of March 31 of 2022 and December 2021, total debt is presented net of finance costs in the amount of Ps.1,131.9 million and Ps.1,207.1 million, respectively.
|
Net Sales
|
1Q’22
|
%
|
1Q’21
|
%
|
Change
%
|
Cable
|
11,804.5
|
63.0
|
11,676.5
|
64.3
|
1.1
|
Sky
|
5,275.7
|
28.1
|
5,624.8
|
31.0
|
(6.2)
|
Other Businesses
|
1,661.1
|
8.9
|
859.5
|
4.7
|
93.3
|
Segment Net Sales
|
18,741.3
|
100.0
|
18,160.8
|
100.0
|
3.2
|
Intersegment Operations1
|
(132.1)
|
(138.5)
|
|||
Net Sales
|
18,609.2
|
18,022.3
|
3.3
|
Operating Segment Income2
|
1Q’22
|
Margin
%
|
1Q’21
|
Margin
%
|
Change
%
|
Cable
|
4,979.3
|
42.2
|
4,834.6
|
41.4
|
3.0
|
Sky
|
1,861.4
|
35.3
|
2,154.4
|
38.3
|
(13.6)
|
Other Businesses
|
376.4
|
22.7
|
(9.3)
|
(1.1)
|
n/a
|
Operating Segment Income
|
7,217.1
|
38.5
|
6,979.7
|
38.4
|
3.4
|
Corporate Expenses
|
(333.7)
|
(1.8)
|
(423.3)
|
(2.3)
|
21.2
|
Depreciation and Amortization
|
(5,077.4)
|
(27.3)
|
(4,658.2)
|
(25.8)
|
(9.0)
|
Other expense, net
|
(168.3)
|
(0.9)
|
(77.6)
|
(0.4)
|
n/a
|
Intersegment Operations1
|
(0.3)
|
(0.0)
|
(0.5)
|
(0.0)
|
40.0
|
Operating Income
|
1,637.4
|
8.8
|
1,820.1
|
10.1
|
(10.0)
|
(1) For
segment reporting purposes, intersegment operations are included in each of the segment operations.
(2) Operating
segment income is defined as operating income before depreciation and amortization, corporate expenses, and other expense, net.
|
Ticker:
|
TLEVISA
|
Period covered by financial statements:
|
2022-01-01 TO 2022-03-31
|
Date of end of reporting period:
|
2022-03-31
|
Name of reporting entity or other means of identification:
|
TLEVISA
|
Description of presentation currency:
|
MXN
|
Level of rounding used in financial statements:
|
THOUSANDS OF MEXICAN PESOS
|
Consolidated:
|
YES
|
Number of quarter:
|
1
|
Type of issuer:
|
ICS
|
Explanation of change in name of reporting entity or other means of identification from end of preceding reporting period:
|
|
Description of nature of financial statements:
|
Concept
|
Close Current Quarter
2022-03-31
|
Close Previous Exercise
2021-12-31
|
Statement of financial position
|
||
Assets
|
||
Current assets
|
||
Cash and cash equivalents
|
61,071,991,000
|
25,828,215,000
|
Trade and other current receivables
|
26,121,222,000
|
28,581,358,000
|
Current tax assets, current
|
6,908,264,000
|
7,261,999,000
|
Other current financial assets
|
7,663,000
|
127,000
|
Current inventories
|
2,096,181,000
|
2,212,859,000
|
Current biological assets
|
0
|
0
|
Other current non-financial assets
|
[1] 2,225,202,000
|
9,374,392,000
|
Total current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
98,430,523,000
|
73,258,950,000
|
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
4,453,775,000
|
0
|
Total current assets
|
102,884,298,000
|
73,258,950,000
|
Non-current assets
|
||
Trade and other non-current receivables
|
385,060,000
|
385,060,000
|
Current tax assets, non-current
|
0
|
0
|
Non-current inventories
|
0
|
0
|
Non-current biological assets
|
0
|
0
|
Other non-current financial assets
|
4,222,551,000
|
6,209,276,000
|
Investments accounted for using equity method
|
0
|
0
|
Investments in subsidiaries, joint ventures and associates
|
56,077,872,000
|
26,704,235,000
|
Property, plant and equipment
|
85,551,345,000
|
87,922,126,000
|
Investment property
|
0
|
0
|
Right-of-use assets that do not meet definition of investment property
|
7,010,025,000
|
7,604,567,000
|
Goodwill
|
13,904,998,000
|
14,036,657,000
|
Intangible assets other than goodwill
|
27,571,152,000
|
28,219,224,000
|
Deferred tax assets
|
15,062,055,000
|
33,173,148,000
|
Other non-current non-financial assets
|
[2] 4,618,498,000
|
16,228,838,000
|
Total non-current assets
|
214,403,556,000
|
220,483,131,000
|
Total assets
|
317,287,854,000
|
293,742,081,000
|
Equity and liabilities
|
||
Liabilities
|
||
Current liabilities
|
||
Trade and other current payables
|
27,109,666,000
|
41,219,137,000
|
Current tax liabilities, current
|
4,249,300,000
|
7,680,800,000
|
Other current financial liabilities
|
3,401,659,000
|
6,290,096,000
|
Current lease liabilities
|
1,475,586,000
|
1,478,382,000
|
Other current non-financial liabilities
|
0
|
0
|
Current provisions
|
||
Current provisions for employee benefits
|
0
|
0
|
Other current provisions
|
1,133,000
|
1,107,000
|
Total current provisions
|
1,133,000
|
1,107,000
|
Total current liabilities other than liabilities included in disposal groups classified as held for sale
|
36,237,344,000
|
56,669,522,000
|
Liabilities included in disposal groups classified as held for sale
|
2,892,854,000
|
0
|
Total current liabilities
|
39,130,198,000
|
56,669,522,000
|
Non-current liabilities
|
||
Trade and other non-current payables
|
6,058,439,000
|
5,328,025,000
|
Current tax liabilities, non-current
|
0
|
104,825,000
|
Other non-current financial liabilities
|
111,453,052,000
|
121,709,508,000
|
Non-current lease liabilities
|
7,398,761,000
|
8,202,177,000
|
Other non-current non-financial liabilities
|
0
|
0
|
Non-current provisions
|
||
Non-current provisions for employee benefits
|
823,767,000
|
1,913,680,000
|
Other non-current provisions
|
1,094,153,000
|
1,079,671,000
|
Total non-current provisions
|
1,917,920,000
|
2,993,351,000
|
Concept
|
Close Current Quarter
2022-03-31
|
Close Previous Exercise
2021-12-31
|
Deferred tax liabilities
|
2,311,532,000
|
2,210,609,000
|
Total non-current liabilities
|
129,139,704,000
|
140,548,495,000
|
Total liabilities
|
168,269,902,000
|
197,218,017,000
|
Equity
|
||
Issued capital
|
4,836,708,000
|
4,836,708,000
|
Share premium
|
15,889,819,000
|
15,889,819,000
|
Treasury shares
|
12,776,612,000
|
14,205,061,000
|
Retained earnings
|
140,102,837,000
|
88,218,188,000
|
Other reserves
|
(14,406,971,000)
|
(13,621,992,000)
|
Total equity attributable to owners of parent
|
133,645,781,000
|
81,117,662,000
|
Non-controlling interests
|
15,372,171,000
|
15,406,402,000
|
Total equity
|
149,017,952,000
|
96,524,064,000
|
Total equity and liabilities
|
317,287,854,000
|
293,742,081,000
|
Concept
|
Accumulated Current Year
2022-01-01 - 2022-03-31
|
Accumulated Previous Year
2021-01-01 - 2021-03-31
|
Profit or loss
|
||
Profit (loss)
|
||
Revenue
|
18,609,213,000
|
18,022,290,000
|
Cost of sales
|
11,826,864,000
|
11,383,139,000
|
Gross profit
|
6,782,349,000
|
6,639,151,000
|
Distribution costs
|
2,133,223,000
|
1,977,109,000
|
Administrative expenses
|
2,843,437,000
|
2,764,332,000
|
Other income
|
0
|
0
|
Other expense
|
168,328,000
|
77,638,000
|
Profit (loss) from operating activities
|
1,637,361,000
|
1,820,072,000
|
Finance income
|
338,920,000
|
181,119,000
|
Finance costs
|
5,228,589,000
|
3,797,132,000
|
Share of profit (loss) of associates and joint ventures accounted for using equity method
|
465,349,000
|
51,826,000
|
Profit (loss) before tax
|
(2,786,959,000)
|
(1,744,115,000)
|
Tax income (expense)
|
(878,126,000)
|
(762,937,000)
|
Profit (loss) from continuing operations
|
(1,908,833,000)
|
(981,178,000)
|
Profit (loss) from discontinued operations
|
54,765,403,000
|
655,423,000
|
Profit (loss)
|
52,856,570,000
|
[3] (325,755,000)
|
Profit (loss), attributable to
|
||
Profit (loss), attributable to owners of parent
|
52,642,085,000
|
(584,380,000)
|
Profit (loss), attributable to non-controlling interests
|
214,485,000
|
258,625,000
|
Earnings per share
|
||
Earnings per share
|
||
Earnings per share
|
||
Basic earnings per share
|
||
Basic earnings (loss) per share from continuing operations
|
(0.72)
|
(0.44)
|
Basic earnings (loss) per share from discontinued operations
|
19.4
|
0.23
|
Total basic earnings (loss) per share
|
[4] 18.68
|
(0.21)
|
Diluted earnings per share
|
||
Diluted earnings (loss) per share from continuing operations
|
(0.67)
|
(0.41)
|
Diluted earnings (loss) per share from discontinued operations
|
18.16
|
0.22
|
Total diluted earnings (loss) per share
|
[5] 17.49
|
(0.19)
|
Concept
|
Accumulated Current Year
2022-01-01 - 2022-03-31
|
Accumulated Previous Year
2021-01-01 - 2021-03-31
|
Statement of comprehensive income
|
||
Profit (loss)
|
52,856,570,000
|
[3] (325,755,000)
|
Other comprehensive income
|
||
Components of other comprehensive income that will not be reclassified to profit or loss, net of tax
|
||
Other comprehensive income, net of tax, gains (losses) from investments in equity instruments
|
(404,379,000)
|
5,008,000
|
Other comprehensive income, net of tax, gains (losses) on revaluation
|
0
|
0
|
Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans
|
0
|
0
|
Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability
|
0
|
0
|
Other comprehensive income, net of tax, gains (losses) on hedging instruments that hedge investments in equity instruments
|
0
|
0
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will not be reclassified to profit or loss, net
of tax
|
0
|
0
|
Total other comprehensive income that will not be reclassified to profit or loss, net of tax
|
(404,379,000)
|
5,008,000
|
Components of other comprehensive income that will be reclassified to profit or loss, net of tax
|
||
Exchange differences on translation
|
||
Gains (losses) on exchange differences on translation, net of tax
|
(762,033,000)
|
281,185,000
|
Reclassification adjustments on exchange differences on translation, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, exchange differences on translation
|
(762,033,000)
|
281,185,000
|
Available-for-sale financial assets
|
||
Gains (losses) on remeasuring available-for-sale financial assets, net of tax
|
0
|
0
|
Reclassification adjustments on available-for-sale financial assets, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, available-for-sale financial assets
|
0
|
0
|
Cash flow hedges
|
||
Gains (losses) on cash flow hedges, net of tax
|
212,607,000
|
596,123,000
|
Reclassification adjustments on cash flow hedges, net of tax
|
0
|
0
|
Amounts removed from equity and included in carrying amount of non-financial asset (liability) whose acquisition or incurrence was hedged highly probable
forecast transaction, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, cash flow hedges
|
212,607,000
|
596,123,000
|
Hedges of net investment in foreign operations
|
||
Gains (losses) on hedges of net investments in foreign operations, net of tax
|
0
|
0
|
Reclassification adjustments on hedges of net investments in foreign operations, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, hedges of net investments in foreign operations
|
0
|
0
|
Change in value of time value of options
|
||
Gains (losses) on change in value of time value of options, net of tax
|
0
|
0
|
Reclassification adjustments on change in value of time value of options, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, change in value of time value of options
|
0
|
0
|
Change in value of forward elements of forward contracts
|
||
Gains (losses) on change in value of forward elements of forward contracts, net of tax
|
0
|
0
|
Reclassification adjustments on change in value of forward elements of forward contracts, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, change in value of forward elements of forward contracts
|
0
|
0
|
Change in value of foreign currency basis spreads
|
||
Gains (losses) on change in value of foreign currency basis spreads, net of tax
|
0
|
0
|
Reclassification adjustments on change in value of foreign currency basis spreads, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, change in value of foreign currency basis spreads
|
0
|
0
|
Financial assets measured at fair value through other comprehensive income
|
||
Gains (losses) on financial assets measured at fair value through other comprehensive income, net of tax
|
0
|
0
|
Reclassification adjustments on financial assets measured at fair value through other comprehensive income, net of tax
|
0
|
0
|
Amounts removed from equity and adjusted against fair value of financial assets on reclassification out of fair value through other comprehensive income
measurement category, net of tax
|
0
|
0
|
Other comprehensive income, net of tax, financial assets measured at fair value through other comprehensive income
|
0
|
0
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of
tax
|
169,944,000
|
(54,000)
|
Total other comprehensive income that will be reclassified to profit or loss, net of tax
|
(379,482,000)
|
877,254,000
|
Total other comprehensive income
|
(783,861,000)
|
882,262,000
|
Concept
|
Accumulated Current Year
2022-01-01 - 2022-03-31
|
Accumulated Previous Year
2021-01-01 - 2021-03-31
|
Total comprehensive income
|
52,072,709,000
|
556,507,000
|
Comprehensive income attributable to
|
||
Comprehensive income, attributable to owners of parent
|
51,857,106,000
|
271,787,000
|
Comprehensive income, attributable to non-controlling interests
|
215,603,000
|
284,720,000
|
Concept
|
Accumulated Current Year
2022-01-01 - 2022-03-31
|
Accumulated Previous Year
2021-01-01 - 2021-03-31
|
Statement of cash flows
|
||
Cash flows from (used in) operating activities
|
||
Profit (loss)
|
52,856,570,000
|
[3] (325,755,000)
|
Adjustments to reconcile profit (loss)
|
||
+ Discontinued operations
|
(54,664,682,000)
|
0
|
+ Adjustments for income tax expense
|
(834,960,000)
|
(103,540,000)
|
+ (-) Adjustments for finance costs
|
0
|
0
|
+ Adjustments for depreciation and amortisation expense
|
5,278,604,000
|
5,169,885,000
|
+ Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss
|
0
|
0
|
+ Adjustments for provisions
|
347,514,000
|
384,739,000
|
+ (-) Adjustments for unrealised foreign exchange losses (gains)
|
279,069,000
|
1,765,790,000
|
+ Adjustments for share-based payments
|
1,267,255,000
|
253,017,000
|
+ (-) Adjustments for fair value losses (gains)
|
115,303,000
|
117,072,000
|
- Adjustments for undistributed profits of associates
|
0
|
0
|
+ (-) Adjustments for losses (gains) on disposal of non-current assets
|
(8,892,000)
|
(12,237,000)
|
+ Share of income of associates and joint ventures
|
(465,349,000)
|
(51,826,000)
|
+ (-) Adjustments for decrease (increase) in inventories
|
(1,000,428,000)
|
(4,249,580,000)
|
+ (-) Adjustments for decrease (increase) in trade accounts receivable
|
(3,657,613,000)
|
(9,814,265,000)
|
+ (-) Adjustments for decrease (increase) in other operating receivables
|
(2,925,763,000)
|
(2,084,569,000)
|
+ (-) Adjustments for increase (decrease) in trade accounts payable
|
1,218,370,000
|
4,854,812,000
|
+ (-) Adjustments for increase (decrease) in other operating payables
|
7,461,999,000
|
12,367,537,000
|
+ Other adjustments for non-cash items
|
0
|
0
|
+ Other adjustments for which cash effects are investing or financing cash flow
|
0
|
0
|
+ Straight-line rent adjustment
|
0
|
0
|
+ Amortization of lease fees
|
0
|
0
|
+ Setting property values
|
0
|
0
|
+ (-) Other adjustments to reconcile profit (loss)
|
75,812,000
|
116,097,000
|
+ (-) Total adjustments to reconcile profit (loss)
|
(47,513,761,000)
|
8,712,932,000
|
Net cash flows from (used in) operations
|
5,342,809,000
|
8,387,177,000
|
- Dividends paid
|
0
|
0
|
+ Dividends received
|
0
|
0
|
- Interest paid
|
(2,808,741,000)
|
(2,302,422,000)
|
+ Interest received
|
(16,899,000)
|
(15,027,000)
|
+ (-) Income taxes refund (paid)
|
19,097,912,000
|
3,143,580,000
|
+ (-) Other inflows (outflows) of cash
|
0
|
0
|
Net cash flows from (used in) operating activities
|
(10,963,261,000)
|
7,530,992,000
|
Cash flows from (used in) investing activities
|
||
+ Cash flows from losing control of subsidiaries or other businesses
|
0
|
0
|
- Cash flows used in obtaining control of subsidiaries or other businesses
|
0
|
0
|
+ Other cash receipts from sales of equity or debt instruments of other entities
|
65,440,452,000
|
0
|
- Other cash payments to acquire equity or debt instruments of other entities
|
0
|
0
|
+ Other cash receipts from sales of interests in joint ventures
|
0
|
0
|
- Other cash payments to acquire interests in joint ventures
|
0
|
0
|
+ Proceeds from sales of property, plant and equipment
|
139,331,000
|
326,998,000
|
- Purchase of property, plant and equipment
|
4,689,334,000
|
5,596,853,000
|
+ Proceeds from sales of intangible assets
|
0
|
0
|
- Purchase of intangible assets
|
511,200,000
|
486,200,000
|
+ Proceeds from sales of other long-term assets
|
0
|
0
|
- Purchase of other long-term assets
|
0
|
0
|
+ Proceeds from government grants
|
0
|
0
|
- Cash advances and loans made to other parties
|
0
|
0
|
+ Cash receipts from repayment of advances and loans made to other parties
|
0
|
0
|
- Cash payments for futures contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
+ Cash receipts from futures contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
+ Dividends received
|
0
|
0
|
Concept
|
Accumulated Current Year
2022-01-01 - 2022-03-31
|
Accumulated Previous Year
2021-01-01 - 2021-03-31
|
- Interest paid
|
0
|
0
|
+ Interest received
|
0
|
0
|
+ (-) Income taxes refund (paid)
|
0
|
0
|
+ (-) Other inflows (outflows) of cash
|
23,892,000
|
1,268,731,000
|
Net cash flows from (used in) investing activities
|
60,403,141,000
|
(4,487,324,000)
|
Cash flows from (used in) financing activities
|
||
+ Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control
|
0
|
0
|
- Payments from changes in ownership interests in subsidiaries that do not result in loss of control
|
0
|
0
|
+ Proceeds from issuing shares
|
0
|
0
|
+ Proceeds from issuing other equity instruments
|
0
|
0
|
- Payments to acquire or redeem entity's shares
|
596,242,000
|
50,500,000
|
- Payments of other equity instruments
|
0
|
0
|
+ Proceeds from borrowings
|
(10,177,580,000)
|
0
|
- Repayments of borrowings
|
60,622,000
|
60,622,000
|
- Payments of finance lease liabilities
|
169,570,000
|
231,000,000
|
- Payments of lease liabilities
|
222,622,000
|
186,412,000
|
+ Proceeds from government grants
|
0
|
0
|
- Dividends paid
|
0
|
0
|
- Interest paid
|
2,706,163,000
|
1,998,000,000
|
+ (-) Income taxes refund (paid)
|
0
|
0
|
+ (-) Other inflows (outflows) of cash
|
(219,031,000)
|
(745,593,000)
|
Net cash flows from (used in) financing activities
|
(14,151,830,000)
|
(3,272,127,000)
|
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes
|
35,288,050,000
|
(228,459,000)
|
Effect of exchange rate changes on cash and cash equivalents
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(44,274,000)
|
32,573,000
|
Net increase (decrease) in cash and cash equivalents
|
35,243,776,000
|
(195,886,000)
|
Cash and cash equivalents at beginning of period
|
25,828,215,000
|
29,058,093,000
|
Cash and cash equivalents at end of period
|
61,071,991,000
|
28,862,207,000
|
Components of equity
|
|||||||||
Sheet 1 of 3
|
Issued capital
|
Share premium
|
Treasury shares
|
Retained earnings
|
Revaluation surplus
|
Reserve of exchange differences on translation
|
Reserve of cash flow hedges
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
Reserve of change in value of time value of options
|
Statement of changes in equity
|
|||||||||
Equity at beginning of period
|
4,836,708,000
|
15,889,819,000
|
14,205,061,000
|
88,218,188,000
|
0
|
2,040,114,000
|
8,467,000
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
52,642,085,000
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
(763,151,000)
|
212,607,000
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
0
|
52,642,085,000
|
0
|
(763,151,000)
|
212,607,000
|
0
|
0
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
(1,428,449,000)
|
(757,436,000)
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Total increase (decrease) in equity
|
0
|
0
|
(1,428,449,000)
|
51,884,649,000
|
0
|
(763,151,000)
|
212,607,000
|
0
|
0
|
Equity at end of period
|
4,836,708,000
|
15,889,819,000
|
12,776,612,000
|
140,102,837,000
|
0
|
1,276,963,000
|
221,074,000
|
0
|
0
|
Components of equity
|
|||||||||
Sheet 2 of 3
|
Reserve of change in value of forward elements of forward contracts
|
Reserve of change in value of foreign currency basis spreads
|
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
Reserve of share-based payments
|
Reserve of remeasurements of defined benefit plans
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or
disposal groups held for sale
|
Reserve of gains and losses from investments in equity instruments
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
Statement of changes in equity
|
|||||||||
Equity at beginning of period
|
0
|
0
|
(15,040,193,000)
|
0
|
0
|
(739,646,000)
|
0
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
(404,379,000)
|
0
|
0
|
0
|
0
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
(404,379,000)
|
0
|
0
|
0
|
0
|
0
|
0
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm
commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial
asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Total increase (decrease) in equity
|
0
|
0
|
(404,379,000)
|
0
|
0
|
0
|
0
|
0
|
0
|
Equity at end of period
|
0
|
0
|
(15,444,572,000)
|
0
|
0
|
(739,646,000)
|
0
|
0
|
0
|
Components of equity
|
||||||||
Sheet 3 of 3
|
Reserve for catastrophe
|
Reserve for equalisation
|
Reserve of discretionary participation features
|
Other comprehensive income
|
Other reserves
|
Equity attributable to owners of parent
|
Non-controlling interests
|
Equity
|
Statement of changes in equity
|
||||||||
Equity at beginning of period
|
0
|
0
|
0
|
109,266,000
|
(13,621,992,000)
|
81,117,662,000
|
15,406,402,000
|
96,524,064,000
|
Changes in equity
|
||||||||
Comprehensive income
|
||||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
52,642,085,000
|
214,485,000
|
52,856,570,000
|
Other comprehensive income
|
0
|
0
|
0
|
169,944,000
|
(784,979,000)
|
(784,979,000)
|
1,118,000
|
(783,861,000)
|
Total comprehensive income
|
0
|
0
|
0
|
169,944,000
|
(784,979,000)
|
51,857,106,000
|
215,603,000
|
52,072,709,000
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
108,700,000
|
108,700,000
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
(141,134,000)
|
(141,134,000)
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
671,013,000
|
0
|
671,013,000
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial
asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Total increase (decrease) in equity
|
0
|
0
|
0
|
169,944,000
|
(784,979,000)
|
52,528,119,000
|
(34,231,000)
|
52,493,888,000
|
Equity at end of period
|
0
|
0
|
0
|
279,210,000
|
(14,406,971,000)
|
133,645,781,000
|
15,372,171,000
|
149,017,952,000
|
Components of equity
|
|||||||||
Sheet 1 of 3
|
Issued capital
|
Share premium
|
Treasury shares
|
Retained earnings
|
Revaluation surplus
|
Reserve of exchange differences on translation
|
Reserve of cash flow hedges
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
Reserve of change in value of time value of options
|
Statement of changes in equity
|
|||||||||
Equity at beginning of period
|
4,907,765,000
|
15,889,819,000
|
16,079,124,000
|
84,280,397,000
|
0
|
1,804,327,000
|
(1,340,854,000)
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
(584,380,000)
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
255,090,000
|
596,123,000
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
0
|
(584,380,000)
|
0
|
255,090,000
|
596,123,000
|
0
|
0
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
50,500,000
|
253,017,000
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm
commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial
asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Total increase (decrease) in equity
|
0
|
0
|
50,500,000
|
(331,363,000)
|
0
|
255,090,000
|
596,123,000
|
0
|
0
|
Equity at end of period
|
4,907,765,000
|
15,889,819,000
|
16,129,624,000
|
83,949,034,000
|
0
|
2,059,417,000
|
(744,731,000)
|
0
|
0
|
Components of equity
|
|||||||||
Sheet 2 of 3
|
Reserve of change in value of forward elements of forward contracts
|
Reserve of change in value of foreign currency basis spreads
|
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
Reserve of share-based payments
|
Reserve of remeasurements of defined benefit plans
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal
groups held for sale
|
Reserve of gains and losses from investments in equity instruments
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
Statement of changes in equity
|
|||||||||
Equity at beginning of period
|
0
|
0
|
(14,940,039,000)
|
0
|
0
|
(943,834,000)
|
0
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
5,008,000
|
0
|
0
|
0
|
0
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
5,008,000
|
0
|
0
|
0
|
0
|
0
|
0
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Total increase (decrease) in equity
|
0
|
0
|
5,008,000
|
0
|
0
|
0
|
0
|
0
|
0
|
Equity at end of period
|
0
|
0
|
(14,935,031,000)
|
0
|
0
|
(943,834,000)
|
0
|
0
|
0
|
Components of equity
|
||||||||
Sheet 3 of 3
|
Reserve for catastrophe
|
Reserve for equalisation
|
Reserve of discretionary participation features
|
Other comprehensive income
|
Other reserves
|
Equity attributable to owners of parent
|
Non-controlling interests
|
Equity
|
Statement of changes in equity
|
||||||||
Equity at beginning of period
|
0
|
0
|
0
|
(136,448,000)
|
(15,556,848,000)
|
73,442,009,000
|
14,497,024,000
|
87,939,033,000
|
Changes in equity
|
||||||||
Comprehensive income
|
||||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
(584,380,000)
|
258,625,000
|
[3] (325,755,000)
|
Other comprehensive income
|
0
|
0
|
0
|
(54,000)
|
856,167,000
|
856,167,000
|
26,095,000
|
882,262,000
|
Total comprehensive income
|
0
|
0
|
0
|
(54,000)
|
856,167,000
|
271,787,000
|
284,720,000
|
556,507,000
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
202,517,000
|
0
|
202,517,000
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Total increase (decrease) in equity
|
0
|
0
|
0
|
(54,000)
|
856,167,000
|
474,304,000
|
284,720,000
|
759,024,000
|
Equity at end of period
|
0
|
0
|
0
|
(136,502,000)
|
(14,700,681,000)
|
73,916,313,000
|
14,781,744,000
|
88,698,057,000
|
Concept
|
Close Current Quarter
2022-03-31
|
Close Previous Exercise
2021-12-31
|
Informative data of the Statement of Financial Position
|
||
Capital stock (nominal)
|
2,423,549,000
|
2,423,549,000
|
Restatement of capital stock
|
2,413,159,000
|
2,413,159,000
|
Plan assets for pensions and seniority premiums
|
1,315,403,000
|
1,312,596,000
|
Number of executives
|
34
|
69
|
Number of employees
|
37,417
|
46,717
|
Number of workers
|
0
|
0
|
Outstanding shares
|
330,810,042,810
|
329,295,860,166
|
Repurchased shares
|
21,323,993,028
|
22,838,175,672
|
Restricted cash
|
0
|
0
|
Guaranteed debt of associated companies
|
0
|
0
|
Concept
|
Accumulated Current Year
2022-01-01 - 2022-03-31
|
Accumulated Previous Year
2021-01-01 - 2021-03-31
|
Informative data of the Income Statement
|
||
Operating depreciation and amortization
|
5,077,384,000
|
4,658,176,000
|
Concept
|
Current Year
2021-04-01 - 2022-03-31
|
Previous Year
2020-04-01 - 2021-03-31
|
Informative data - Income Statement for 12 months
|
||
Revenue
|
74,802,906,000
|
97,961,794,000
|
Profit (loss) from operating activities
|
10,340,790,000
|
17,639,144,000
|
Profit (loss)
|
60,537,110,000
|
8,880,707,000
|
Profit (loss), attributable to owners of parent
|
59,282,291,000
|
7,817,176,000
|
Operating depreciation and amortization
|
19,692,735,000
|
21,279,169,000
|
Institution
|
Foreign institution (yes/no)
|
Contract signing date
|
Expiration date
|
Interest rate
|
Denomination
|
|||||||||||
Domestic currency
|
Foreign currency
|
|||||||||||||||
Time interval
|
Time interval
|
|||||||||||||||
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
|||||
Banks
|
||||||||||||||||
Foreign trade
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Banks - secured
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Commercial banks
|
||||||||||||||||
BANORTE1
|
NO
|
2015-05-15
|
2022-04-30
|
TIIE+1.0
|
549,618,000
|
|||||||||||
HSBC 2
|
NO
|
2016-03-08
|
2023-03-08
|
7.13
|
625,000,000
|
|||||||||||
SCOTIABANK INVERLAT 3
|
NO
|
2016-03-08
|
2023-03-08
|
7
|
375,000,000
|
|||||||||||
SCOTIABANK INVERLAT 4
|
NO
|
2022-12-03
|
2026-12-03
|
8.13 and TIIE+.90
|
2,650,000,000
|
|||||||||||
SYNDICATE 5
|
NO
|
2019-06-05
|
2024-06-28
|
TIIE+1.05
|
9,951,726,000
|
|||||||||||
TOTAL
|
549,618,000
|
1,000,000,000
|
0
|
9,951,726,000
|
0
|
2,650,000,000
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Other banks
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total banks
|
||||||||||||||||
TOTAL
|
549,618,000
|
1,000,000,000
|
0
|
9,951,726,000
|
0
|
2,650,000,000
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Stock market
|
||||||||||||||||
Listed on stock exchange - unsecured
|
||||||||||||||||
SENIOR NOTES 1
|
YES
|
2007-05-09
|
2037-05-11
|
8.93
|
4,489,003,000
|
|||||||||||
SENIOR NOTES 2
|
YES
|
2013-05-14
|
2043-05-14
|
7.62
|
6,449,869,000
|
|||||||||||
NOTES 3
|
NO
|
2017-10-09
|
2027-09-27
|
8.79
|
4,486,828,000
|
|||||||||||
SENIOR NOTES 4
|
YES
|
2005-03-18
|
2025-03-18
|
6.97
|
7,872,469,000
|
|||||||||||
SENIOR NOTES 5
|
YES
|
2002-03-11
|
2032-03-11
|
8.94
|
5,942,438,000
|
|||||||||||
SENIOR NOTES 6
|
YES
|
2009-11-23
|
2040-01-16
|
6.97
|
11,807,677,000
|
|||||||||||
SENIOR NOTES 7
|
YES
|
2014-05-13
|
2045-05-15
|
5.26
|
19,475,175,000
|
|||||||||||
SENIOR NOTES 8
|
YES
|
2015-11-24
|
2026-01-30
|
4.86
|
5,941,885,000
|
|||||||||||
SENIOR NOTES 9
|
YES
|
2015-11-24
|
2046-01-31
|
6.44
|
17,767,000,000
|
|||||||||||
SENIOR NOTES 10
|
YES
|
2019-05-21
|
2049-05-24
|
5.52
|
14,618,982,000
|
|||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
15,425,700,000
|
0
|
0
|
0
|
7,872,469,000
|
5,941,885,000
|
69,611,272,000
|
||||
Listed on stock exchange - secured
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Private placements - unsecured
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Private placements - secured
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total listed on stock exchanges and private placements
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
15,425,700,000
|
0
|
0
|
0
|
7,872,469,000
|
5,941,885,000
|
[6] 69,611,272,000
|
||||
Other current and non-current liabilities with cost
|
||||||||||||||||
Other current and non-current liabilities with cost
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total other current and non-current liabilities with cost
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Suppliers
|
||||||||||||||||
Suppliers
|
||||||||||||||||
VARIOUS SUPPLIERS 1
|
NO
|
2022-12-31
|
2027-12-31
|
14,156,279,000
|
259,550,000
|
381,105,000
|
3,079,266,000
|
24,019,000
|
||||||||
TOTAL
|
0
|
14,156,279,000
|
0
|
0
|
259,550,000
|
381,105,000
|
0
|
3,079,266,000
|
0
|
0
|
0
|
24,019,000
|
||||
Total suppliers
|
||||||||||||||||
TOTAL
|
0
|
14,156,279,000
|
0
|
0
|
259,550,000
|
381,105,000
|
0
|
3,079,266,000
|
0
|
0
|
0
|
24,019,000
|
Institution
|
Foreign institution (yes/no)
|
|||||||||||||||
Banks
|
||||||||||||||||
Foreign trade
|
Other current and non-current liabilities
|
||||||||||||||||
DERIVATIVES FINANCIAL INSTRUMENTS 1
|
225,000
|
|||||||||||||||
TOTAL
|
0
|
225,000
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total other current and non-current liabilities
|
||||||||||||||||
TOTAL
|
0
|
225,000
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total credits
|
||||||||||||||||
TOTAL
|
549,618,000
|
15,156,504,000
|
0
|
9,951,726,000
|
259,550,000
|
18,456,805,000
|
0
|
3,079,266,000
|
0
|
7,872,469,000
|
5,941,885,000
|
69,635,291,000
|
Currencies
|
|||||
Dollars
|
Dollar equivalent in pesos
|
Other currencies equivalent in dollars
|
Other currencies equivalent in pesos
|
Total pesos
|
|
Foreign currency position
|
|||||
Monetary assets
|
|||||
Current monetary assets
|
2,627,559,000
|
52,201,715,000
|
23,279,000
|
462,484,000
|
52,664,199,000
|
Non-current monetary assets
|
0
|
0
|
0
|
0
|
0
|
Total monetary assets
|
2,627,559,000
|
52,201,715,000
|
23,279,000
|
462,484,000
|
52,664,199,000
|
Liabilities position
|
|||||
Current liabilities
|
349,484,000
|
6,943,199,000
|
1,108,000
|
22,013,000
|
6,965,212,000
|
Non-current liabilities
|
4,396,487,000
|
87,345,007,000
|
0
|
0
|
87,345,007,000
|
Total liabilities
|
4,745,971,000
|
94,288,206,000
|
1,108,000
|
22,013,000
|
94,310,219,000
|
Net monetary assets (liabilities)
|
(2,118,412,000)
|
(42,086,491,000)
|
22,171,000
|
440,471,000
|
[7] (41,646,020,000)
|
Income type
|
||||
National income
|
Export income
|
Income of subsidiaries abroad
|
Total income
|
|
SKY (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
||||
SKY (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
0
|
0
|
0
|
0
|
SKY, VETV, BLUE TO GO, BLUE TELECOMM
|
||||
SKY - DTH BROADCAST SATELLITE TV
|
4,666,668,000
|
0
|
323,395,000
|
4,990,063,000
|
SKY - PAY PER VIEW
|
56,883,000
|
0
|
2,963,000
|
59,846,000
|
SKY - ADVERTISING
|
225,822,000
|
0
|
0
|
225,822,000
|
CABLE (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
||||
CABLE (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
0
|
0
|
0
|
0
|
IZZI, IZZI GO
|
||||
CABLE - DIGITAL TV SERVICE
|
3,932,596,000
|
0
|
0
|
3,932,596,000
|
CABLE - BROADBAND SERVICES
|
4,831,887,000
|
0
|
0
|
4,831,887,000
|
CABLE - SERVICE INSTALLATION
|
127,277,000
|
0
|
0
|
127,277,000
|
CABLE - ADVERTISING
|
467,435,000
|
0
|
0
|
467,435,000
|
CABLE - TELEPHONY
|
1,271,724,000
|
0
|
0
|
1,271,724,000
|
CABLE - OTHER INCOME
|
22,790,000
|
0
|
0
|
22,790,000
|
BESTEL, METRORED
|
||||
CABLE - ENTERPRISE OPERATIONS
|
1,097,443,000
|
0
|
53,302,000
|
1,150,745,000
|
OTHER BUSINESSES:
|
||||
OTHER BUSINESSES:
|
0
|
0
|
0
|
0
|
TV Y NOVELAS, VANIDADES, TU,COSMOPOLITAN, COCINA FÁCIL,CARAS, HARPER´S BAZAR, NATIONAL GEOGRAPHIC, ESQUIRE,MUY INTERESANTE
|
||||
PUBLISHING - MAGAZINE CIRCULATION
|
70,651,000
|
0
|
70,651,000
|
|
PUBLISHING - ADVERTISING
|
24,039,000
|
0
|
0
|
24,039,000
|
PUBLISHING - OTHER INCOME
|
1,239,000
|
0
|
0
|
1,239,000
|
CLUB DE FÚTBOL AMÉRICA, ESTADIO AZTECA
|
||||
SPECIAL EVENTS AND SHOW PROMOTION
|
503,921,000
|
142,095,000
|
0
|
646,016,000
|
PLAY CITY
|
||||
GAMING
|
573,710,000
|
0
|
0
|
573,710,000
|
GRUPO TELEVISA
|
||||
TRANSMISSION CONCESSIONS RIGHTS AND FACILITIES OF PRODUCTION
|
285,871,000
|
285,871,000
|
||
AMERICAN CARS, VOLKSWAGEN COLLECTION, CASA DE MUÑECAS, GUÍA DE BIENESTAR, SELECCIONES, DC COMICS, MARVEL NOVELAS GRÁFICAS
|
||||
PUBLISHING DISTRIBUTION
|
59,647,000
|
0
|
0
|
59,647,000
|
INTERSEGMENT ELIMINATIONS
|
||||
INTERSEGMENT ELIMINATIONS
|
(132,145,000)
|
0
|
0
|
(132,145,000)
|
TOTAL
|
18,087,458,000
|
142,095,000
|
379,660,000
|
18,609,213,000
|
1.
|
Cross-currency interest rate swaps (i.e., coupon swaps);
|
2.
|
Interest rate and inflation-indexed swaps;
|
3.
|
Cross-currency principal and interest rate swaps;
|
4.
|
Swaptions;
|
5.
|
Forward exchange rate contracts;
|
6.
|
FX options;
|
7.
|
Interest Rate Caps and Floors contracts;
|
8.
|
Fixed-price contracts for the acquisition of government securities (i.e., Treasury locks); and
|
9.
|
Credit Default Swaps.
|
1.
|
During the relevant quarter, forwards through which the Company hedged against a possible Mexican Peso depreciation with a notional amount of U.S.
$124,745,000.00 (One hundred twenty four million seven hundred forty five thousand U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $102,356,311.25 (One hundred two million three hundred fifty six thousand
three hundred eleven Mexican pesos 25/100) was incurred in the quarter.
|
2.
|
During the relevant quarter, interest rate swaps through which the Company hedged against a possible change on the Interest Rates with a notional
amount of MXN $9,385,347,200 (Nine billion three hundred eighty five million three hundred forty seven thousand two hundred Mexican pesos 00/100), expired. As a result of this hedge, a loss of MXN $2,602,184.54 (Two million six
hundred two thousand one hundred eighty four Mexican pesos 54/100)
|
3.
|
During the relevant quarter, forwards through which Televisión Internacional, S.A. de C.V. hedged against a possible Mexican Peso depreciation with a
notional amount of U.S. $12,600,000.00 (Twelve million Six hundred thousand U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $13,605,129.00 (Thirteen million six hundred five thousand one hundred twenty nine
Mexican pesos 00/100) was incurred in the quarter.
|
4.
|
During the relevant quarter, forwards through which Empresas Cablevisión, S.A.B. de C.V. hedged against a possible Mexican Peso depreciation with a
notional amount of U.S. $13,820,000.00 (Thirteen million eight hundred twenty thousand U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $14,865,102.50 (Fourteen million eight hundred sixty five thousand one
hundred two Mexican pesos 50/100) was incurred in the quarter.
|
5.
|
During the relevant quarter, forwards through which Corporación Novavisión S. de R.L. de C.V. hedged against a possible Mexican Peso depreciation with
a notional amount of U.S. $15,000,000.00 (Fifteen million U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $17,985,000.00 (Seventeen million nine hundred eighty five thousand Mexican pesos 00/100) was
incurred in the quarter.
|
Type of Derivative, Securities or Contract
|
Purpose (e.g., hedging, trading or other)
|
Notional Amount/Face Value
|
Value of the Underlying Asset / Reference Variable
|
Fair Value
|
Collateral/
Lines of Credit/
Securities Pledged
|
|||
Current Quarter (5)
|
Previous Quarter (6)
|
Current Quarter Dr (Cr) (5)
|
Previous Quarter Dr (Cr) (6)
|
Maturing per Year
|
||||
Interest Rate Swap (1)
|
Hedging
|
Ps.2,000,000
|
TIIE 28 days / 7.3275%
|
TIIE 28 days / 7.3275%
|
1,473
|
(9,749)
|
Monthly interest
2022
|
Does not exist (7)
|
Interest Rate Swap (1)
|
Hedging
|
Ps.1,500,000
|
TIIE 28 days / 7.3500%
|
TIIE 28 days / 7.3500%
|
2,545
|
(7,243)
|
Monthly interest
2022
|
Does not exist (7)
|
Interest Rate Swap (1)
|
Hedging
|
Ps.2,500,000
|
TIIE 28 days / 7.7485%
|
TIIE 28 days / 7.7485%
|
3,565
|
(23,798)
|
Monthly interest
2022-2023
|
Does not exist (7)
|
Interest Rate Swap (1)
|
Hedging
|
Ps.10,000,000
|
TIIE 28 days / 6.7620%
|
TIIE 28 days / 6.7620%
|
360,454
|
133,197
|
Monthly interest
2022-2024
|
Does not exist (7)
|
Interest Rate Swap (1)
|
Hedging
|
-
|
-
|
TIIE 28 days / 6.0246%
|
-
|
(2,943)
|
Monthly interest
2022
|
Does not exist (7)
|
Forward (1)
|
Hedging
|
-
|
-
|
U.S.$67,125 / Ps.1,419,243
|
-
|
(35,524)
|
Semi-annual interest
2022
|
Does not exist (7)
|
Forward (1)
|
Hedging
|
-
|
-
|
U.S.$57,620 / Ps.1,244,171
|
-
|
(56,496)
|
2022
|
Does not exist (7)
|
Interest Rate Swap (2)
|
Hedging
|
Ps.78,900
|
TIIE 28 days / 5.585%
|
TIIE 28 days / 5.585%
|
80
|
127
|
Monthly Interest
2022
|
Does not exist (7)
|
Interest Rate Swap (2)
|
Hedging
|
Ps.470,881
|
TIIE 28 days / 7.2663%
|
TIIE 28 days / 7.2663%
|
(225)
|
(2,015)
|
Monthly Interest
2022
|
Does not exist (7)
|
Forward (2)
|
Hedging
|
-
|
-
|
U.S.$12,600 / Ps.270,136
|
-
|
(10,057)
|
2022
|
Does not exist (7)
|
Forward (3)
|
Hedging
|
-
|
-
|
U.S.$13,820 / Ps.296,235
|
-
|
(11,006)
|
2022
|
Does not exist (7)
|
Forward (4)
|
Hedging
|
-
|
-
|
U.S.$15,000 / Ps.324,000
|
-
|
(14,054)
|
2022
|
Does not exist (7)
|
Total
|
367,892
|
(39,561)
|
(1)
|
Acquired by Grupo Televisa, S.A.B.
|
(2)
|
Acquired by Televisión Internacional, S.A. de C.V.
|
(3)
|
Acquired by Empresas Cablevisión, S.A.B. de C.V.
|
(4)
|
Acquired by Corporación Novavisión S. de R.L. de C.V.
|
(5)
|
The aggregate amount of the derivatives reflected in the consolidated statement of financial position of Grupo Televisa, S.A.B.
as of March 31, 2022, is as follows:
|
Other financial assets
|
Ps.
|
7,663
|
|
Other non-current financial assets
|
360,454
|
||
Other financial liabilities
|
(225)
|
||
Ps.
|
367,892
|
(6)
|
Information as of December 31, 2021.
|
(7)
|
Applies only to implicit financing in the ISDA ancillary agreements identified as “Credit Support Annex”.
|
Concept
|
Close Current Quarter
2022-03-31
|
Close Previous Exercise
2021-12-31
|
Subclassifications of assets, liabilities and equities
|
||
Cash and cash equivalents
|
||
Cash
|
||
Cash on hand
|
42,030,000
|
53,176,000
|
Balances with banks
|
672,341,000
|
1,127,641,000
|
Total cash
|
714,371,000
|
1,180,817,000
|
Cash equivalents
|
||
Short-term deposits, classified as cash equivalents
|
60,357,620,000
|
24,647,398,000
|
Short-term investments, classified as cash equivalents
|
0
|
0
|
Other banking arrangements, classified as cash equivalents
|
0
|
0
|
Total cash equivalents
|
60,357,620,000
|
24,647,398,000
|
Other cash and cash equivalents
|
0
|
0
|
Total cash and cash equivalents
|
61,071,991,000
|
25,828,215,000
|
Trade and other current receivables
|
||
Current trade receivables
|
8,725,292,000
|
13,093,011,000
|
Current receivables due from related parties
|
6,230,476,000
|
874,852,000
|
Current prepayments
|
||
Current advances to suppliers
|
0
|
0
|
Current prepaid expenses
|
2,957,442,000
|
3,031,233,000
|
Total current prepayments
|
2,957,442,000
|
3,031,233,000
|
Current receivables from taxes other than income tax
|
6,853,279,000
|
9,417,978,000
|
Current value added tax receivables
|
6,800,481,000
|
9,337,972,000
|
Current receivables from sale of properties
|
0
|
0
|
Current receivables from rental of properties
|
0
|
0
|
Other current receivables
|
1,354,733,000
|
2,164,284,000
|
Total trade and other current receivables
|
26,121,222,000
|
28,581,358,000
|
Classes of current inventories
|
||
Current raw materials and current production supplies
|
||
Current raw materials
|
0
|
0
|
Current production supplies
|
0
|
0
|
Total current raw materials and current production supplies
|
0
|
0
|
Current merchandise
|
0
|
0
|
Current work in progress
|
0
|
0
|
Current finished goods
|
0
|
0
|
Current spare parts
|
0
|
0
|
Property intended for sale in ordinary course of business
|
0
|
0
|
Other current inventories
|
2,096,181,000
|
2,212,859,000
|
Total current inventories
|
2,096,181,000
|
2,212,859,000
|
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
||
Non-current assets or disposal groups classified as held for sale
|
4,453,775,000
|
0
|
Non-current assets or disposal groups classified as held for distribution to owners
|
0
|
0
|
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
4,453,775,000
|
0
|
Trade and other non-current receivables
|
||
Non-current trade receivables
|
385,060,000
|
385,060,000
|
Non-current receivables due from related parties
|
0
|
0
|
Non-current prepayments
|
0
|
0
|
Non-current lease prepayments
|
0
|
0
|
Non-current receivables from taxes other than income tax
|
0
|
0
|
Non-current value added tax receivables
|
0
|
0
|
Non-current receivables from sale of properties
|
0
|
0
|
Non-current receivables from rental of properties
|
0
|
0
|
Revenue for billing
|
0
|
0
|
Other non-current receivables
|
0
|
0
|
Total trade and other non-current receivables
|
385,060,000
|
385,060,000
|
Investments in subsidiaries, joint ventures and associates
|
||
Investments in subsidiaries
|
0
|
0
|
Investments in joint ventures
|
825,078,000
|
817,793,000
|
Investments in associates
|
55,252,794,000
|
25,886,442,000
|
Total investments in subsidiaries, joint ventures and associates
|
56,077,872,000
|
26,704,235,000
|
Property, plant and equipment
|
||
Land and buildings
|
||
Land
|
5,570,408,000
|
4,891,626,000
|
Buildings
|
4,408,200,000
|
4,767,765,000
|
Total land and buildings
|
9,978,608,000
|
9,659,391,000
|
Machinery
|
56,588,679,000
|
58,966,115,000
|
Vehicles
|
||
Ships
|
0
|
0
|
Aircraft
|
504,996,000
|
507,644,000
|
Motor vehicles
|
626,643,000
|
734,360,000
|
Total vehicles
|
1,131,639,000
|
1,242,004,000
|
Fixtures and fittings
|
447,096,000
|
521,800,000
|
Office equipment
|
1,725,504,000
|
2,117,027,000
|
Tangible exploration and evaluation assets
|
0
|
0
|
Mining assets
|
0
|
0
|
Oil and gas assets
|
0
|
0
|
Construction in progress
|
15,004,154,000
|
14,535,546,000
|
Construction prepayments
|
0
|
0
|
Other property, plant and equipment
|
675,665,000
|
880,243,000
|
Total property, plant and equipment
|
85,551,345,000
|
87,922,126,000
|
Investment property
|
||
Investment property completed
|
0
|
0
|
Investment property under construction or development
|
0
|
0
|
Investment property prepayments
|
0
|
0
|
Total investment property
|
0
|
0
|
Intangible assets and goodwill
|
||
Intangible assets other than goodwill
|
||
Brand names
|
200,863,000
|
218,896,000
|
Intangible exploration and evaluation assets
|
0
|
0
|
Mastheads and publishing titles
|
0
|
0
|
Computer software
|
4,381,699,000
|
5,158,928,000
|
Licences and franchises
|
0
|
0
|
Copyrights, patents and other industrial property rights, service and operating rights
|
0
|
0
|
Recipes, formulae, models, designs and prototypes
|
0
|
0
|
Intangible assets under development
|
0
|
0
|
Other intangible assets
|
22,988,590,000
|
22,841,400,000
|
Total intangible assets other than goodwill
|
27,571,152,000
|
28,219,224,000
|
Goodwill
|
13,904,998,000
|
14,036,657,000
|
Total intangible assets and goodwill
|
41,476,150,000
|
42,255,881,000
|
Trade and other current payables
|
||
Current trade payables
|
17,235,545,000
|
22,874,341,000
|
Current payables to related parties
|
380,389,000
|
82,070,000
|
Accruals and deferred income classified as current
|
||
Deferred income classified as current
|
4,356,162,000
|
8,998,556,000
|
Rent deferred income classified as current
|
0
|
0
|
Accruals classified as current
|
2,546,704,000
|
4,847,210,000
|
Short-term employee benefits accruals
|
1,188,855,000
|
2,332,260,000
|
Total accruals and deferred income classified as current
|
6,902,866,000
|
13,845,766,000
|
Current payables on social security and taxes other than income tax
|
2,318,506,000
|
3,900,861,000
|
Current value added tax payables
|
1,776,769,000
|
3,143,958,000
|
Current retention payables
|
272,360,000
|
516,099,000
|
Other current payables
|
0
|
0
|
Total trade and other current payables
|
27,109,666,000
|
41,219,137,000
|
Other current financial liabilities
|
||
Bank loans current
|
1,549,618,000
|
4,106,432,000
|
Stock market loans current
|
0
|
0
|
Other current liabilities at cost
|
0
|
0
|
Other current liabilities at no cost
|
225,000
|
149,087,000
|
Other current financial liabilities
|
1,851,816,000
|
2,034,577,000
|
Total Other current financial liabilities
|
3,401,659,000
|
6,290,096,000
|
Trade and other non-current payables
|
||
Non-current trade payables
|
664,674,000
|
5,328,025,000
|
Non-current payables to related parties
|
0
|
0
|
Accruals and deferred income classified as non-current
|
||
Deferred income classified as non-current
|
5,393,765,000
|
0
|
Rent deferred income classified as non-current
|
0
|
0
|
Accruals classified as non-current
|
0
|
0
|
Total accruals and deferred income classified as non-current
|
5,393,765,000
|
0
|
Non-current payables on social security and taxes other than income tax
|
0
|
0
|
Non-current value added tax payables
|
0
|
0
|
Non-current retention payables
|
0
|
0
|
Other non-current payables
|
0
|
0
|
Total trade and other non-current payables
|
6,058,439,000
|
5,328,025,000
|
Other non-current financial liabilities
|
||
Bank loans non-current
|
12,601,726,000
|
16,093,167,000
|
Stock market loans non-current
|
98,851,326,000
|
105,592,543,000
|
Other non-current liabilities at cost
|
0
|
0
|
Other non-current liabilities at no cost
|
0
|
23,798,000
|
Other non-current financial liabilities
|
0
|
0
|
Total Other non-current financial liabilities
|
111,453,052,000
|
121,709,508,000
|
Other provisions
|
||
Other non-current provisions
|
1,094,153,000
|
1,079,671,000
|
Other current provisions
|
1,133,000
|
1,107,000
|
Total other provisions
|
1,095,286,000
|
1,080,778,000
|
Other reserves
|
||
Revaluation surplus
|
0
|
0
|
Reserve of exchange differences on translation
|
1,276,963,000
|
2,040,114,000
|
Reserve of cash flow hedges
|
221,074,000
|
8,467,000
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
0
|
0
|
Reserve of change in value of time value of options
|
0
|
0
|
Reserve of change in value of forward elements of forward contracts
|
0
|
0
|
Reserve of change in value of foreign currency basis spreads
|
0
|
0
|
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income
|
(15,444,572,000)
|
(15,040,193,000)
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
0
|
0
|
Reserve of share-based payments
|
0
|
0
|
Reserve of remeasurements of defined benefit plans
|
(739,646,000)
|
(739,646,000)
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal groups held for sale
|
0
|
0
|
Reserve of gains and losses from investments in equity instruments
|
0
|
0
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
0
|
0
|
Reserve for catastrophe
|
0
|
0
|
Reserve for equalisation
|
0
|
0
|
Reserve of discretionary participation features
|
0
|
0
|
Reserve of equity component of convertible instruments
|
0
|
0
|
Capital redemption reserve
|
0
|
0
|
Merger reserve
|
0
|
0
|
Statutory reserve
|
0
|
0
|
Other comprehensive income
|
279,210,000
|
109,266,000
|
Total other reserves
|
(14,406,971,000)
|
(13,621,992,000)
|
Net assets (liabilities)
|
||
Assets
|
317,287,854,000
|
293,742,081,000
|
Liabilities
|
168,269,902,000
|
197,218,017,000
|
Net assets (liabilities)
|
149,017,952,000
|
96,524,064,000
|
Net current assets (liabilities)
|
||
Current assets
|
102,884,298,000
|
73,258,950,000
|
Current liabilities
|
39,130,198,000
|
56,669,522,000
|
Concept
|
Close Current Quarter
2022-03-31
|
Close Previous Exercise
2021-12-31
|
Net current assets (liabilities)
|
63,754,100,000
|
16,589,428,000
|
Concept
|
Accumulated Current Year
2022-01-01 - 2022-03-31
|
Accumulated Previous Year
2021-01-01 - 2021-03-31
|
Analysis of income and expense
|
||
Revenue
|
||
Revenue from rendering of services
|
14,561,992,000
|
13,765,657,000
|
Revenue from sale of goods
|
182,608,000
|
197,441,000
|
Interest income
|
0
|
0
|
Royalty income
|
284,136,000
|
210,160,000
|
Dividend income
|
0
|
0
|
Rental income
|
3,580,477,000
|
3,849,032,000
|
Revenue from construction contracts
|
0
|
0
|
Other revenue
|
0
|
0
|
Total revenue
|
18,609,213,000
|
18,022,290,000
|
Finance income
|
||
Interest income
|
338,920,000
|
181,119,000
|
Net gain on foreign exchange
|
0
|
0
|
Gains on change in fair value of derivatives
|
0
|
0
|
Gain on change in fair value of financial instruments
|
0
|
0
|
Other finance income
|
0
|
0
|
Total finance income
|
338,920,000
|
181,119,000
|
Finance costs
|
||
Interest expense
|
2,805,853,000
|
2,305,490,000
|
Net loss on foreign exchange
|
2,307,433,000
|
1,374,570,000
|
Losses on change in fair value of derivatives
|
115,303,000
|
117,072,000
|
Loss on change in fair value of financial instruments
|
0
|
0
|
Other finance cost
|
0
|
0
|
Total finance costs
|
5,228,589,000
|
3,797,132,000
|
Tax income (expense)
|
||
Current tax
|
221,440,000
|
1,210,517,000
|
Deferred tax
|
(1,099,566,000)
|
(1,973,454,000)
|
Total tax income (expense)
|
(878,126,000)
|
(762,937,000)
|
(a) |
Basis of Presentation
|
(b) |
Consolidation
|
Subsidiaries
|
|
Company’s
Ownership Interest (1) |
|
|
Business
Segment (2) |
|
Empresas Cablevisión, S.A.B. de C.V. and subsidiaries (collectively, “Empresas Cablevisión”) (3)
|
|
51.2
|
%
|
|
|
Cable
|
Subsidiaries engaged in the Cablemás business (collectively, “Cablemás”) (4)
|
|
100
|
%
|
|
|
Cable
|
Televisión Internacional, S.A. de C.V. and subsidiaries (collectively, “TVI”) (5)
|
|
100
|
%
|
|
|
Cable
|
Cablestar, S.A. de C.V. and subsidiaries (collectively, “Bestel”) (6)
|
|
66.2
|
%
|
|
|
Cable
|
Arretis, S.A.P.I. de C.V. and subsidiaries (collectively, “Cablecom”) (7)
|
|
100
|
%
|
|
|
Cable
|
Subsidiaries engaged in the Telecable business (collectively, “Telecable”) (8)
|
|
100
|
%
|
|
|
Cable
|
FTTH de México, S.A. de C.V. (9)
|
|
100
|
%
|
|
|
Cable
|
Corporativo Vasco de Quiroga, S.A. de C.V. (“CVQ”) and subsidiaries (10)
|
|
100
|
%
|
|
|
Cable and Sky
|
Innova, S. de R.L. de C.V. (“Innova”) and subsidiaries (collectively, “Sky”) (11)
|
|
58.7
|
%
|
|
|
Sky
|
Grupo Telesistema, S.A. de C.V. (“Grupo Telesistema”) and subsidiaries
|
|
100
|
%
|
|
|
Content and Other Businesses
|
Televisa, S. de R. L. de C.V. (Televisa, S.A. de C.V. through May 2021) (“Televisa”) (12)
|
|
100
|
%
|
|
|
Content
|
Televisión Independiente de México, S.A. de C.V. (“TIM”) (12)
|
|
100
|
%
|
|
|
Content
|
G.Televisa-D, S.A. de C.V. (12)
|
|
100
|
%
|
|
|
Content
|
Multimedia Telecom, S.A. de C.V. (“Multimedia Telecom”) and subsidiary (13)
|
|
100
|
%
|
|
|
Content
|
Ulvik, S.A. de C.V. (14)
|
|
100
|
%
|
|
|
Content and Other Businesses
|
Controladora de Juegos y Sorteos de México, S.A. de C.V. and subsidiaries
|
|
100
|
%
|
|
|
Other Businesses
|
Editorial Televisa, S.A. de C.V. and subsidiaries
|
|
100
|
%
|
|
|
Other Businesses
|
Grupo Distribuidoras Intermex, S.A. de C.V. and subsidiaries
|
|
100
|
%
|
|
|
Other Businesses
|
Villacezán, S.A. de C.V. (“Villacezán”) and subsidiaries (15)
|
|
100
|
%
|
|
|
Other Businesses
|
Sistema Radiópolis, S.A. de C.V. (“Radiópolis”) and subsidiaries (16)
|
|
—
|
|
|
|
Disposed operations in 2020
|
(1)
|
Percentage of equity interest directly or indirectly held by the Company.
|
(2)
|
See Note 26 for a description of each of the Group’s business segments. See Notes 3 and 30 for the Group’s transaction with UH II, which was concluded
on January 31, 2022.
|
(3)
|
Empresas Cablevisión, S.A.B. de C.V., is a direct majority-owned subsidiary of CVQ.
|
(4)
|
The subsidiaries in the Cablemás business are directly and indirectly owned by CVQ.
|
(5)
|
Televisión Internacional, S.A. de C.V., is a direct subsidiary of CVQ.
|
(6)
|
Cablestar, S.A. de C.V., is an indirect majority-owned subsidiary of CVQ and Empresas Cablevisión, S.A.B. de C.V.
|
(7)
|
Arretis, S.A.P.I. de C.V., is a direct subsidiary of CVQ.
|
(8)
|
The subsidiaries in the Telecable business are directly owned by CVQ.
|
(9)
|
FTTH de México, S. A. de C.V., is an indirect subsidiary of CVQ.
|
(10)
|
CVQ is a direct subsidiary of the Company and the parent company of Empresas Cablevisión, Cablemás, TVI, Bestel, Cablecom, Telecable and Innova.
|
(11)
|
Innova is an indirect majority-owned subsidiary of the Company, CVQ and Sky DTH, S.A. de C.V. (“Sky DTH”), and a direct majority-owned subsidiary of
Innova Holdings, S. de R.L. de C.V. (“Innova Holdings”). Sky is a satellite television provider in Mexico, Central America and the Dominican Republic. Although the Company holds a majority of Innova’s equity and designates a
majority of the members of Innova’s Board of Directors, the non-controlling interest has certain governance and veto rights in Innova, including the right to block certain transactions between the companies in the Group and Sky.
These veto rights are protective in nature and do not affect decisions about relevant business activities of Innova.
|
(12)
|
TIM and G.Televisa-D, S.A. de C.V., are direct subsidiaries of Grupo Telesistema. Through January 31, 2022, Televisa was a direct subsidiary of Grupo
Telesistema.
|
(13)
|
Multimedia Telecom and its direct subsidiary, Comunicaciones Tieren, S.A. de C.V. (“Tieren”), are indirect wholly-owned subsidiaries of Grupo
Telesistema, through which the Company owns shares of the capital stock of UH II, the successor company of Univision Holdings, Inc. (“UHI”) and the parent company of Univision, and maintained through December 29, 2020, an investment
in warrants that were exercised for shares of common stock of UHI on that date. Multimedia Telecom and Tieren have investments representing 95.3% and 4.7%, respectively, of the Group’s aggregate investment in shares of common stock
issued by UH II as of December 31, 2021, and UHI as of December 31, 2020 (see Notes 3, 9, 10 and 20).
|
(14)
|
Direct subsidiary through which the Group conducts certain operations of its Other Businesses segment, and conducted certain operations of its Content
segment through January 31, 2022.
|
(15)
|
Villacezán is an indirect subsidiary of Grupo Telesistema.
|
(16)
|
In July 2020, the Company concluded the sale of its 50% equity interest in Radiópolis. Through June 2020, Radiópolis was a direct subsidiary of the
Company through which the Group conducted the operations of its former Radio business. The Company controlled Radiópolis as it had the right to appoint the majority of the members of the Board of Directors of Radiópolis. The Radio
business was part the of the Group’s Other Businesses segment through the third quarter of 2019. Beginning in the fourth quarter of 2019, the assets and related liabilities of the Radio Business, as well as its operating results,
were classified as held for sale in the Group’s consolidated financial statements through June 30, 2020 (see Notes 3 and 26).
|
Segments
|
Expiration Dates
|
|
Cable
|
|
Various from 2026 to 2056
|
Sky
|
|
Various from 2022 to 2056
|
Content (broadcasting concessions) (1)
|
|
In 2021, and the relevant renewals started in 2022 ending in 2042 and 2052
|
Other Businesses:
|
|
|
Gaming
|
In 2030
|
(1)
|
In November 2018, the IFT approved (i) 23 concessions for the use of spectrum that comprise the Company’s 225 TV stations, for a term of 20
years, starting in January 2022 and ending in January 2042, and (ii) six concessions that grant the authorization to provide digital broadcasting television services of such 225 TV stations, for a term of 30 years, starting in
January 2022 and ending in January 2052. In November 2018, the Group paid for such renewal an aggregate amount of Ps.5,754,543 in cash, which included a payment of Ps.1,194 for administrative expenses and recognized this
payment as an intangible asset in its consolidated statement of financial position. This amount will be amortized in a period of 20 years beginning on January 1, 2022, by using the straight-line method (see Note 13).
|
(c)
|
Investments in Associates and Joint Ventures
|
(d)
|
Segment Reporting
|
(e)
|
Foreign Currency Translation
|
(f) |
Cash and Cash Equivalents
|
(g) |
Transmission Rights and Programming
|
(h) |
Inventories
|
(i) |
Financial Assets
|
(j) |
Property, Plant and Equipment
|
|
|
|
Estimated
Useful Lives |
|
|
|
|
|
|
Buildings
|
|
|
20-65 years
|
|
Technical equipment
|
|
|
3-30 years
|
|
Satellite transponders
|
|
|
15 years
|
|
Furniture and fixtures
|
|
|
3-10 years
|
|
Transportation equipment
|
|
|
4-8 years
|
|
Computer equipment
|
|
|
3-6 years
|
|
Leasehold improvements
|
|
|
5-30 years
|
|
(k)
|
Right-of-use Assets
|
(l) |
Intangible Assets and Goodwill
|
|
|
|
Estimated
Useful Lives |
|
Trademarks with finite useful lives
|
|
|
4 years
|
|
Licenses
|
|
|
3-10 years
|
|
Subscriber lists
|
|
|
4-5 years
|
|
Payments for renewal of concessions
|
|
|
20 years
|
|
Other intangible assets
|
|
|
3-20 years
|
|
(m) |
Impairment of Long-lived Assets
|
(n) |
Trade Accounts Payable and Accrued Expenses
|
(o) |
Debt
|
(p) |
Customer Deposits and Advances
|
(q) |
Provisions
|
(r) |
Equity
|
(s) |
Revenue Recognition
|
•
|
Cable television, internet and telephone subscription, and pay-per-view and installation fees are recognized in the period in which
the services are rendered.
|
•
|
Revenues from other telecommunications and data services are recognized in the period in which these services are provided. Other telecommunications
services include long distance and local telephony, as well as leasing and maintenance of telecommunications facilities.
|
•
|
Sky program service revenues, including advances from customers for future direct-to-home (“DTH”) program services, are recognized at the time the
service is provided.
|
•
|
Advertising revenues, including deposits and advances from customers for future advertising, are recognized at the time the advertising services
were rendered.
|
•
|
Revenues from program services for network subscription and licensed and syndicated television programs are recognized when the programs were sold
and became available for broadcast.
|
•
|
Revenues from magazine subscriptions are initially deferred and recognized proportionately as products are delivered to subscribers. Revenues from
the sales of magazines are recognized on the date of circulation of delivered merchandise, net of a provision for estimated returns.
|
•
|
Revenues from publishing distribution are recognized upon distribution of the products.
|
•
|
Revenues from attendance to soccer games, including revenues from advance ticket sales for soccer games and other promotional events, are recognized
on the date of the relevant event.
|
•
|
Motion picture production and distribution revenues are recognized as the films were exhibited.
|
•
|
Gaming revenues consist of the net win from gaming activities, which is the difference between amounts wagered and amounts paid to winning patrons
and are recognized at the time of such net win.
|
Cable
|
Sky
|
Total
|
||||||||
Contract costs:
|
||||||||||
At January 1, 2021
|
Ps.
|
2,027,691
|
Ps.
|
2,513,866
|
Ps.
|
4,541,557
|
||||
Additions
|
1,209,894
|
1,088,956
|
2,298,850
|
|||||||
Amount recognized in income
|
(739,461
|
)
|
(1,102,632
|
)
|
(1,842,093
|
)
|
||||
Total Contract Costs at December 31, 2021
|
2,498,124
|
2,500,190
|
4,998,314
|
|||||||
Less:
|
||||||||||
Current Contract Costs
|
797,273
|
985,450
|
1,782,723
|
|||||||
Total Non-current Contract Costs
|
Ps.
|
1,700,851
|
Ps.
|
1,514,740
|
Ps.
|
3,215,591
|
Cable
|
Sky
|
Total
|
||||||||
Contract costs:
|
||||||||||
At January 1, 2020
|
Ps.
|
1,436,758
|
Ps.
|
2,254,479
|
Ps.
|
3,691,237
|
||||
Additions
|
1,163,038
|
1,335,300
|
2,498,338
|
|||||||
Amount recognized in income
|
(572,105
|
)
|
(1,075,913
|
)
|
(1,648,018
|
)
|
||||
Total Contract Costs at December 31, 2020
|
2,027,691
|
2,513,866
|
4,541,557
|
|||||||
Less:
|
||||||||||
Current Contract Costs
|
640,655
|
957,792
|
1,598,447
|
|||||||
Total Non-current Contract Costs
|
Ps.
|
1,387,036
|
Ps.
|
1,556,074
|
Ps.
|
2,943,110
|
(t) |
Interest Income
|
(u) |
Employee Benefits
|
(v) |
Income Taxes
|
(w) |
Derivative Financial Instruments
|
(x) |
Comprehensive Income
|
(y) |
Share-based Payment Agreements
|
(z) |
Leases
|
(aa) |
New and Amended IFRS Standards
|
New or Amended IFRS Standard
|
|
Title of the IFRS Standard
|
|
|
Effective for Annual
Periods Beginning On or After |
|
|
|
|
|
|
|
|
Amendments to IFRS 10 and
IAS 28 (1) |
|
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
|
|
|
Postponed
|
|
IFRS 17 (2)
|
|
Insurance Contracts
|
|
|
January 1, 2023
|
|
Amendments to IAS 1 (1)
|
|
Classification of Liabilities as Current or Non-current
|
|
|
January 1, 2023
|
|
Annual Improvements (1)
|
|
Annual Improvements to IFRS Standards 2018-2020
|
|
|
January 1, 2022
|
|
Amendments to IAS 16 (1)
|
|
Property, Plant and Equipment: Proceeds before Intended Use
|
|
|
January 1, 2022
|
|
Amendments to IAS 37 (1)
|
|
Onerous Contracts – Cost of Fulfilling a Contract
|
|
|
January 1, 2022
|
|
Amendments to IFRS 3 (1)
|
|
Reference to the Conceptual Framework
|
|
|
January 1, 2022
|
|
Amendments to IAS 8 (1)
|
|
Definition of Accounting Estimates
|
|
|
January 1, 2023
|
|
Amendments to IAS 1 and IFRS Practice Statement 2 (1)
|
|
Disclosure of Accounting Policies
|
|
|
January 1, 2023
|
|
Amendment to IFRS 16 (1)
|
Covid-19-Related Rent Concessions beyond 30 June 2021
|
April 1, 2021
|
||||
Amendments to IAS 12 (1)
|
Deferred Tax related to Assets and Liabilities arising from a Single Transaction
|
January 1, 2023
|
||||
Amendment to IFRS 17 (2)
|
Initial Application of IFRS 17 and IFRS 9 – Comparative Information
|
January 1, 2023
|
Standard
|
Subject of Amendment
|
|
IFRS 1 First-time Adoption of International Reporting Standards
|
|
Subsidiary as a First-time Adopter
|
IFRS 9 Financial Instruments
|
|
Fees in the “10 per cent” Test for Derecognition of Financial Liabilities
|
Illustrative Examples accompanying IFRS 16 Leases
|
|
Lease Incentives
|
IAS 41 Agriculture
|
|
Taxation in Fair Value Measurements
|
(a) |
Basis of Presentation
|
(b) |
Consolidation
|
Subsidiaries
|
|
Company’s
Ownership Interest (1) |
|
|
Business
Segment (2) |
|
Empresas Cablevisión, S.A.B. de C.V. and subsidiaries (collectively, “Empresas Cablevisión”) (3)
|
|
51.2
|
%
|
|
|
Cable
|
Subsidiaries engaged in the Cablemás business (collectively, “Cablemás”) (4)
|
|
100
|
%
|
|
|
Cable
|
Televisión Internacional, S.A. de C.V. and subsidiaries (collectively, “TVI”) (5)
|
|
100
|
%
|
|
|
Cable
|
Cablestar, S.A. de C.V. and subsidiaries (collectively, “Bestel”) (6)
|
|
66.2
|
%
|
|
|
Cable
|
Arretis, S.A.P.I. de C.V. and subsidiaries (collectively, “Cablecom”) (7)
|
|
100
|
%
|
|
|
Cable
|
Subsidiaries engaged in the Telecable business (collectively, “Telecable”) (8)
|
|
100
|
%
|
|
|
Cable
|
FTTH de México, S.A. de C.V. (9)
|
|
100
|
%
|
|
|
Cable
|
Corporativo Vasco de Quiroga, S.A. de C.V. (“CVQ”) and subsidiaries (10)
|
|
100
|
%
|
|
|
Cable and Sky
|
Innova, S. de R.L. de C.V. (“Innova”) and subsidiaries (collectively, “Sky”) (11)
|
|
58.7
|
%
|
|
|
Sky
|
Grupo Telesistema, S.A. de C.V. (“Grupo Telesistema”) and subsidiaries
|
|
100
|
%
|
|
|
Content and Other Businesses
|
Televisa, S. de R. L. de C.V. (Televisa, S.A. de C.V. through May 2021) (“Televisa”) (12)
|
|
100
|
%
|
|
|
Content
|
Televisión Independiente de México, S.A. de C.V. (“TIM”) (12)
|
|
100
|
%
|
|
|
Content
|
G.Televisa-D, S.A. de C.V. (12)
|
|
100
|
%
|
|
|
Content
|
Multimedia Telecom, S.A. de C.V. (“Multimedia Telecom”) and subsidiary (13)
|
|
100
|
%
|
|
|
Content
|
Ulvik, S.A. de C.V. (14)
|
|
100
|
%
|
|
|
Content and Other Businesses
|
Controladora de Juegos y Sorteos de México, S.A. de C.V. and subsidiaries
|
|
100
|
%
|
|
|
Other Businesses
|
Editorial Televisa, S.A. de C.V. and subsidiaries
|
|
100
|
%
|
|
|
Other Businesses
|
Grupo Distribuidoras Intermex, S.A. de C.V. and subsidiaries
|
|
100
|
%
|
|
|
Other Businesses
|
Villacezán, S.A. de C.V. (“Villacezán”) and subsidiaries (15)
|
|
100
|
%
|
|
|
Other Businesses
|
Sistema Radiópolis, S.A. de C.V. (“Radiópolis”) and subsidiaries (16)
|
|
—
|
|
|
|
Disposed operations in 2020
|
(1)
|
Percentage of equity interest directly or indirectly held by the Company.
|
(2)
|
See Note 26 for a description of each of the Group’s business segments. See Notes 3 and 30 for the Group’s transaction with UH II, which was
concluded on January 31, 2022.
|
(3)
|
Empresas Cablevisión, S.A.B. de C.V., is a direct majority-owned subsidiary of CVQ.
|
(4)
|
The subsidiaries in the Cablemás business are directly and indirectly owned by CVQ.
|
(5)
|
Televisión Internacional, S.A. de C.V., is a direct subsidiary of CVQ.
|
(6)
|
Cablestar, S.A. de C.V., is an indirect majority-owned subsidiary of CVQ and Empresas Cablevisión, S.A.B. de C.V.
|
(7)
|
Arretis, S.A.P.I. de C.V., is a direct subsidiary of CVQ.
|
(8)
|
The subsidiaries in the Telecable business are directly owned by CVQ.
|
(9)
|
FTTH de México, S. A. de C.V., is an indirect subsidiary of CVQ.
|
(10)
|
CVQ is a direct subsidiary of the Company and the parent company of Empresas Cablevisión, Cablemás, TVI, Bestel, Cablecom, Telecable and Innova.
|
(11)
|
Innova is an indirect majority-owned subsidiary of the Company, CVQ and Sky DTH, S.A. de C.V. (“Sky DTH”), and a direct majority-owned
subsidiary of Innova Holdings, S. de R.L. de C.V. (“Innova Holdings”). Sky is a satellite television provider in Mexico, Central America and the Dominican Republic. Although the Company holds a majority of Innova’s equity
and designates a majority of the members of Innova’s Board of Directors, the non-controlling interest has certain governance and veto rights in Innova, including the right to block certain transactions between the companies
in the Group and Sky. These veto rights are protective in nature and do not affect decisions about relevant business activities of Innova.
|
(12)
|
TIM and G.Televisa-D, S.A. de C.V., are direct subsidiaries of Grupo Telesistema. Through January 31, 2022, Televisa was a direct subsidiary of
Grupo Telesistema.
|
(13)
|
Multimedia Telecom and its direct subsidiary, Comunicaciones Tieren, S.A. de C.V. (“Tieren”), are indirect wholly-owned subsidiaries of Grupo
Telesistema, through which the Company owns shares of the capital stock of UH II, the successor company of Univision Holdings, Inc. (“UHI”) and the parent company of Univision, and maintained through December 29, 2020, an investment
in warrants that were exercised for shares of common stock of UHI on that date. Multimedia Telecom and Tieren have investments representing 95.3% and 4.7%, respectively, of the Group’s aggregate investment in shares of common stock
issued by UH II as of December 31, 2021, and UHI as of December 31, 2020 (see Notes 3, 9, 10 and 20).
|
(14)
|
Direct subsidiary through which the Group conducts certain operations of its Other Businesses segment, and conducted certain operations of its Content
segment through January 31, 2022.
|
(15)
|
Villacezán is an indirect subsidiary of Grupo Telesistema.
|
(16)
|
In July 2020, the Company concluded the sale of its 50% equity interest in Radiópolis. Through June 2020, Radiópolis was a direct subsidiary of the
Company through which the Group conducted the operations of its former Radio business. The Company controlled Radiópolis as it had the right to appoint the majority of the members of the Board of Directors of Radiópolis. The Radio
business was part the of the Group’s Other Businesses segment through the third quarter of 2019. Beginning in the fourth quarter of 2019, the assets and related liabilities of the Radio Business, as well as its operating results,
were classified as held for sale in the Group’s consolidated financial statements through June 30, 2020 (see Notes 3 and 26).
|
Segments
|
Expiration Dates
|
|
Cable
|
|
Various from 2026 to 2056
|
Sky
|
|
Various from 2022 to 2056
|
Content (broadcasting concessions) (1)
|
|
In 2021, and the relevant renewals started in 2022 ending in 2042 and 2052
|
Other Businesses:
|
|
|
Gaming
|
|
In 2030
|
(1)
|
In November 2018, the IFT approved (i) 23 concessions for the use of spectrum that comprise the Company’s 225 TV stations, for a term of 20 years,
starting in January 2022 and ending in January 2042, and (ii) six concessions that grant the authorization to provide digital broadcasting television services of such 225 TV stations, for a term of 30 years, starting in January
2022 and ending in January 2052. In November 2018, the Group paid for such renewal an aggregate amount of Ps.5,754,543 in cash, which included a payment of Ps.1,194 for administrative expenses and recognized this payment as an
intangible asset in its consolidated statement of financial position. This amount will be amortized in a period of 20 years beginning on January 1, 2022, by using the straight-line method (see Note 13).
|
(c) |
Investments in Associates and Joint Ventures
|
(d) |
Segment Reporting
|
(e) |
Foreign Currency Translation
|
(f) |
Cash and Cash Equivalents
|
(g) |
Transmission Rights and Programming
|
(h)
|
Inventories
|
(i) |
Financial Assets
|
(j) |
Property, Plant and Equipment
|
|
|
|
Estimated
Useful Lives |
|
|
|
|
|
|
Buildings
|
|
|
20-65 years
|
|
Technical equipment
|
|
|
3-30 years
|
|
Satellite transponders
|
|
|
15 years
|
|
Furniture and fixtures
|
|
|
3-10 years
|
|
Transportation equipment
|
|
|
4-8 years
|
|
Computer equipment
|
|
|
3-6 years
|
|
Leasehold improvements
|
|
|
5-30 years
|
|
(k) |
Right-of-use Assets
|
(l) |
Intangible Assets and Goodwill
|
|
|
|
Estimated
Useful Lives |
|
Trademarks with finite useful lives
|
|
|
4 years
|
|
Licenses
|
|
|
3-10 years
|
|
Subscriber lists
|
|
|
4-5 years
|
|
Payments for renewal of concessions
|
|
|
20 years
|
|
Other intangible assets
|
|
|
3-20 years
|
|
(m) |
Impairment of Long-lived Assets
|
(n) |
Trade Accounts Payable and Accrued Expenses
|
(o)
|
Debt
|
(p) |
Customer Deposits and Advances
|
(q) |
Provisions
|
(r) |
Equity
|
(s) |
Revenue Recognition
|
•
|
Cable television, internet and telephone subscription, and pay-per-view and installation fees are recognized in the period in which
the services are rendered.
|
•
|
Revenues from other telecommunications and data services are recognized in the period in which these services are provided. Other telecommunications
services include long distance and local telephony, as well as leasing and maintenance of telecommunications facilities.
|
•
|
Sky program service revenues, including advances from customers for future direct-to-home (“DTH”) program services, are recognized at the time the
service is provided.
|
•
|
Advertising revenues, including deposits and advances from customers for future advertising, are recognized at the time the advertising services
were rendered.
|
•
|
Revenues from program services for network subscription and licensed and syndicated television programs are recognized when the programs were sold
and became available for broadcast.
|
•
|
Revenues from magazine subscriptions are initially deferred and recognized proportionately as products are delivered to subscribers. Revenues from
the sales of magazines are recognized on the date of circulation of delivered merchandise, net of a provision for estimated returns.
|
•
|
Revenues from publishing distribution are recognized upon distribution of the products.
|
•
|
Revenues from attendance to soccer games, including revenues from advance ticket sales for soccer games and other promotional events, are recognized
on the date of the relevant event.
|
•
|
Motion picture production and distribution revenues are recognized as the films were exhibited.
|
•
|
Gaming revenues consist of the net win from gaming activities, which is the difference between amounts wagered and amounts paid to winning patrons
and are recognized at the time of such net win.
|
Cable
|
Sky
|
Total
|
||||||||
Contract costs:
|
||||||||||
At January 1, 2021
|
Ps.
|
2,027,691
|
Ps.
|
2,513,866
|
Ps.
|
4,541,557
|
||||
Additions
|
1,209,894
|
1,088,956
|
2,298,850
|
|||||||
Amount recognized in income
|
(739,461
|
)
|
(1,102,632
|
)
|
(1,842,093
|
)
|
||||
Total Contract Costs at December 31, 2021
|
2,498,124
|
2,500,190
|
4,998,314
|
|||||||
Less:
|
||||||||||
Current Contract Costs
|
797,273
|
985,450
|
1,782,723
|
|||||||
Total Non-current Contract Costs
|
Ps.
|
1,700,851
|
Ps.
|
1,514,740
|
Ps.
|
3,215,591
|
Cable
|
Sky
|
Total
|
||||||||
Contract costs:
|
||||||||||
At January 1, 2020
|
Ps.
|
1,436,758
|
Ps.
|
2,254,479
|
Ps.
|
3,691,237
|
||||
Additions
|
1,163,038
|
1,335,300
|
2,498,338
|
|||||||
Amount recognized in income
|
(572,105
|
)
|
(1,075,913
|
)
|
(1,648,018
|
)
|
||||
Total Contract Costs at December 31, 2020
|
2,027,691
|
2,513,866
|
4,541,557
|
|||||||
Less:
|
||||||||||
Current Contract Costs
|
640,655
|
957,792
|
1,598,447
|
|||||||
Total Non-current Contract Costs
|
Ps.
|
1,387,036
|
Ps.
|
1,556,074
|
Ps.
|
2,943,110
|
(t) |
Interest Income
|
(u) |
Employee Benefits
|
(v) |
Income Taxes
|
(w) |
Derivative Financial Instruments
|
(x) |
Comprehensive Income
|
(y) |
Share-based Payment Agreements
|
(z) |
Leases
|
(aa) |
New and Amended IFRS Standards
|
New or Amended IFRS Standard
|
|
Title of the IFRS Standard
|
|
|
Effective for Annual
Periods Beginning On or After |
|
|
|
|
|
|
|
|
Amendments to IFRS 10 and
IAS 28 (1) |
|
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
|
|
|
Postponed
|
|
IFRS 17 (2)
|
|
Insurance Contracts
|
|
|
January 1, 2023
|
|
Amendments to IAS 1 (1)
|
|
Classification of Liabilities as Current or Non-current
|
|
|
January 1, 2023
|
|
Annual Improvements (1)
|
|
Annual Improvements to IFRS Standards 2018-2020
|
|
|
January 1, 2022
|
|
Amendments to IAS 16 (1)
|
|
Property, Plant and Equipment: Proceeds before Intended Use
|
|
|
January 1, 2022
|
|
Amendments to IAS 37 (1)
|
|
Onerous Contracts – Cost of Fulfilling a Contract
|
|
|
January 1, 2022
|
|
Amendments to IFRS 3 (1)
|
|
Reference to the Conceptual Framework
|
|
|
January 1, 2022
|
|
Amendments to IAS 8 (1)
|
|
Definition of Accounting Estimates
|
|
|
January 1, 2023
|
|
Amendments to IAS 1 and IFRS Practice Statement 2 (1)
|
|
Disclosure of Accounting Policies
|
|
|
January 1, 2023
|
|
Amendment to IFRS 16 (1)
|
Covid-19-Related Rent Concessions beyond 30 June 2021
|
April 1, 2021
|
||||
Amendments to IAS 12 (1)
|
Deferred Tax related to Assets and Liabilities arising from a Single Transaction
|
January 1, 2023
|
||||
Amendment to IFRS 17 (2)
|
Initial Application of IFRS 17 and IFRS 9 – Comparative Information
|
January 1, 2023
|
Standard
|
Subject of Amendment
|
|
IFRS 1 First-time Adoption of International Reporting Standards
|
|
Subsidiary as a First-time Adopter
|
IFRS 9 Financial Instruments
|
|
Fees in the “10 per cent” Test for Derecognition of Financial Liabilities
|
Illustrative Examples accompanying IFRS 16 Leases
|
|
Lease Incentives
|
IAS 41 Agriculture
|
|
Taxation in Fair Value Measurements
|
1. |
Corporate Information
|
2. |
Basis of Preparation and Accounting Policies
|
3.
|
Disposition of OCEN and Transaction with TelevisaUnivision
|
4. |
Investments in Financial Instruments
|
|
|
March 31, 2022
|
|
|
December 31, 2021
|
|
Equity instruments measured at fair value through other comprehensive income:
|
|
|
|
|
|
|
Open-Ended Fund (1)
|
Ps.
|
834,849
|
|
Ps.
|
945,176
|
|
Publicly traded equity instruments (2)
|
|
3,022,025
|
|
|
3,517,711
|
|
Other equity instruments (3)
|
|
-
|
|
|
1,607,969
|
|
|
|
3,856,874
|
|
|
6,070,856
|
|
Other
|
|
5,223
|
|
|
5,223
|
|
|
Ps.
|
3,862,097
|
|
Ps.
|
6,076,079
|
|
(1)
|
The Group has an investment in an Open-Ended Fund that has as a primary objective to achieve capital appreciation by using a broad
range of strategies through investments in securities, including without limitation stock, debt and other financial instruments, a principal portion of which are considered as Level 1 financial instruments, in telecom, media
and other sectors across global markets, including Latin America and other emerging markets. Shares may be redeemed on a quarterly basis at the Net Asset Value (“NAV”) per share as of such redemption date. The fair value of
this fund is determined by using the NAV per share. The NAV per share is calculated by determining the value of the fund assets, all of which are measured at fair value,and subtracting all of the fund liabilities and dividing
the result by the total number of issued shares. In March 2021, the Company redeemed a portion of its investment in Open-Ended Fund at the aggregate fair value amount of U.S.$10.0 million (Ps.258,956) and recognized cash
proceeds from this redemption for such aggregate amount.
|
(2)
|
Their fair value of publicly traded equity instruments is determined by using quoted market prices at the measurement date. In the
first half of 2021, the Company disposed of a portion of these publicly traded equity instruments and recognized cash proceeds from this disposition in the aggregate amount of Ps.1,755,415.
|
(3)
|
Other equity instruments included unquoted equity investments, which were initially recognized at cost with any subsequent changes
in fair value recognized through other comprehensive income or loss. The Group disposed of these investments on January 31, 2022, in connection with the closing of the transaction with TelevisaUnivision (see Note 3).
|
|
|
Open-Ended
Fund (1)
|
|
|
Publicly Traded Equity Instruments
|
|
|
Other Equity Instruments
|
|
|
Total
|
|
At January 1, 2022
|
Ps.
|
945,176
|
|
Ps.
|
3,517,711
|
|
Ps.
|
1,607,969
|
|
Ps.
|
6,070,856
|
|
Disposition of investments
|
|
-
|
|
|
|
-
|
|
(1,607,969
|
)
|
|
(1,607,969
|
)
|
Change in fair value in other comprehensive income
|
|
(110,327
|
)
|
|
(495,686
|
)
|
|
-
|
|
|
(606,013
|
)
|
At March 31, 2022
|
Ps.
|
834,849
|
|
Ps.
|
3,022,025
|
|
Ps.
|
-
|
|
Ps.
|
3,856,874
|
|
|
|
Open-Ended
Fund (1)
|
|
|
Publicly Traded Equity Instruments
|
|
|
Other Equity Instruments
|
|
|
Total
|
|
At January 1, 2021
|
Ps.
|
1,135,803
|
|
Ps.
|
5,397,504
|
|
Ps.
|
468,552
|
|
Ps.
|
7,001,859
|
|
Disposition of investments
|
|
(258,956
|
)
|
|
(1,293,525
|
)
|
|
-
|
|
|
(1,552,481
|
)
|
Change in fair value in other comprehensive income
|
|
51,021
|
|
|
40,413
|
|
|
12,211
|
|
|
103,645
|
|
At March 31, 2021
|
Ps.
|
927,868
|
|
Ps.
|
4,144,392
|
|
Ps.
|
480,763
|
|
Ps.
|
5,553,023
|
|
(1)
|
The foreign exchange loss for the three months ended March 31, 2022, derived from the investment in
an Open-Ended Fund, was hedged by foreign exchange gain from the consolidated statement of income, in the amount of Ps.74,181. The foreign exchange gain for the three months ended March 31, 2021, derived from the investment
in an Open-Ended Fund, was hedged by foreign exchange loss in the consolidated statement of income, in the amount of Ps.93,460 (see Notes 9 and 16).
|
5. |
Investments in Associates and Joint Ventures
|
|
Ownership as of
March 31, 2022
|
|
|
|
March 31, 2022
|
|
|
December 31, 2021
|
|
Associates:
|
|
|
|
|
|
|
|
|
|
UH II and subsidiaries (1)
|
44.6
|
%
|
|
Ps.
|
55,195,106
|
|
Ps.
|
25,721,539
|
|
Other
|
|
|
|
|
57,688
|
|
|
164,903
|
|
Joint ventures:
|
|
|
|
|
|
|
|
|
|
Grupo de Telecomunicaciones de Alta Capacidad, S.A.P.I. de C.V. and
subsidiaries (“GTAC”) (2)
|
33.3
|
%
|
|
|
624,163
|
|
|
614,147
|
|
Periódico Digital Sendero, S.A.P.I. de C.V. and subsidiary (“PDS”) (3)
|
50.0
|
%
|
|
|
200,915
|
|
|
203,646
|
|
|
|
|
|
Ps.
|
56,077,872
|
|
Ps.
|
26,704,235
|
|
(1)
|
The Group accounts for its investment in common stock of TelevisaUnivision (formerly known as UH II), the parent company of
Univision Communnications Inc. (“Univision”), under the equity method due to the Group’s ability to exercise significant influence, as defined under IFRS Standards, over TelevisaUnivision’s operations. The Group has the
ability to exercise significant influence over the operating and financial policies of TelevisaUnivision because (i) it owned 9,290,999 and 5,701,335 Class A shares of common stock of TelevisaUnivision, representing 44.6% and
35.5%, respectively, of the outstanding shares of TelevisaUnivision on an as-converted basis (excluding unvested and/or unsettled stock, restricted stock units and options of TelevisaUnivision), and 47.2% and 40.1%
respectively, of the voting shares of TelevisaUnivision, as of March 31, 2022 and December 31, 2021, respectively, and 750,000 Class B of preferred stock of Televisa Univision as of March 31, 2022; and (ii) it has designated
three members of the Board of Directors of TelevisaUnivision, one of which serves as the Chairman. The Chairman does not presently have tie-breaking vote or other similar power in connection with any decisions of the Board.
The governing documents of TelevisaUnivision provide for a 13-member Board of Directors; however, the Board of Directors currently consists of 11 members, and the Group has the right to appoint the two additional members.
Until January 31, 2022, the Group was also a party to a Program Licensing Agreement (“PLA”), as amended, with Univision, pursuant to which Univision had the right to broadcast certain Televisa content in the United States, and
to another program license agreement pursuant to which the Group had the right to broadcast certain Univision content in Mexico. On May 18, 2021, Univision Holdings, Inc. (“UHI”) concluded a reorganization through a series of
transactions (the “Reorganization”) pursuant to which, among other things, UH II acquired a controlling financial interest in UHI on that date. The Reorganization was effectuated by UHI in connection with the transaction with
the Group concluded on January 31, 2022. As a result of the Reorganization of UHI: (i) the Group and other existing stockholders of UHI exchanged their shares of the capital stock of UHI for the same number and class of newly
issued shares of UH II; (ii) UHI issued common stock to a new investor and then these shares were exchanged for shares in UH II; (iii) the Group held an equity interest in the capital stock of UH II of 35.5% on as-converted;
and (iv) UH II became a successor company of UHI. In connection with the Reorganization of UHI, and other observable indications that the value of the Group’s net investment in UH II increased significantly during 2021
(including internal and external valuations of the recoverable amount of UH II), in the second half of 2021 the Group’s management assessed whether there was any indication that the impairment loss recognized by the Group in
the first quarter of 2020 in the amount of U.S.$228.6 million (Ps.5,455,356) for its net investment in shares of UHI might no longer exist or might have decreased. As a result, the Group’s management concluded that there had
been a change in the estimates used to determine the recoverable amount of the Group’s net investment in UH II since the last impairment loss was recognized, and the carrying amount of such net investment was increased to its
recoverable amount. The reversal of the impairment loss amounted to U.S.$199.1 million (Ps.4,161,704) and was recognized in share of income of associates and joint ventures in the Group’s consolidated statement of income for
the year ended December 31, 2021. On January 31, 2022, the Group increased its investment in shares of TelevisaUnivision in the aggregate preliminary fair value amount of U.S.$1,500 million (Ps.31,296,600) comprised of $750
million (Ps.15,648,300) for 3,589,664 Class A shares of common stock of TelevisaUnivsion, and U.S.750 million (Ps.15,648,300) for 750,000 Class B of preferred stock of TelevisaUnivision, with an annual preferred dividend of
5.5% payable on a quarterly basis. The investment in preferred stock of TelevisaUnivision has been classified by the Group as investments in associates and joint ventures because this investment has in substance potential
voting rights and give access to the returns associated with an ownership in TelevisaUnivision. In the first quarter of 2022, the Group recognized a preferred dividend in cash in the amount of U.S.$6.9 million (Ps.136,585) in
share of income of TelevisaUnivsion in the consolidated statement of income for the three months ended March 31, 2022 (see Notes 1, 3, 4, 10, 14 and 16).
|
(2)
|
GTAC was granted a 20-year contract for the lease of a pair of dark fiber wires held by the Mexican Federal Electricity
Commission and a concession to operate a public telecommunications network in Mexico with an expiration date in 2030. GTAC is a joint venture in which a subsidiary of the Company, a subsidiary of Grupo de
Telecomunicaciones Mexicanas, S.A. de C.V., and a subsidiary of Megacable, S.A. de C.V., have an equal equity participation of 33.3%. In June 2010, a subsidiary of the Company entered into a long-term credit facility
agreement to provide financing to GTAC for up to Ps.688,217, with an annual interest rate of the Mexican Interbank Interest Rate (“Tasa de Interés Interbancaria de Equilibrio” or “TIIE”) plus 200 basis points. Under the
terms of this agreement, principal and interest are payable at dates agreed by the parties, between 2013 and 2021. As of December 31, 2021, GTAC had used a principal amount of Ps.688,183 under this credit facility. During
the year ended December 31, 2021, GTAC paid
|
principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.97,342. Also,
a subsidiary of the Company entered into supplementary long-term loans to provide additional financing to GTAC for an aggregate principal amount of Ps.1,086,045, with an annual interest of TIIE plus 200 basis points computed
on a monthly basis and payable on an annual basis or at dates agreed by the parties. Under the terms of these supplementary loans, principal amounts can be prepaid at dates agreed by the parties before their maturities between
2023 and 2030. During the three months ended March 31, 2022, GTAC paid principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.29,564. During the year ended December
31, 2021, GTAC paid principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.147,413. The net investment in GTAC as of March 31, 2022 and December 31, 2021, included
amounts receivable in connection with this long-term credit facility and supplementary loans to GTAC in the aggregate amount of Ps.748,979 and Ps.755,973, respectively. These amounts receivable are in substance a part of the
Group’s net investment in this investee (see Note 9).
|
(3)
|
The Group accounts for its investment in PDS under the equity method, due to its 50% interest in this joint venture. As of March
31, 2022 and December 31, 2021, the Group’s investment in PDS included intangible assets and goodwill in the aggregate amount of Ps.113,837.
|
6. |
Property, Plant and Equipment, Net
|
|
|
March 31, 2022
|
|
|
December 31, 2021
|
|
Buildings
|
Ps.
|
9,519,573
|
|
Ps.
|
10,127,239
|
|
Building improvements
|
|
183,313
|
|
|
183,735
|
|
Technical equipment
|
|
172,885,658
|
|
|
172,795,206
|
|
Satellite transponders
|
|
6,026,094
|
|
|
6,026,094
|
|
Furniture and fixtures
|
|
1,180,905
|
|
|
1,298,803
|
|
Transportation equipment
|
|
3,046,659
|
|
|
3,407,907
|
|
Computer equipment
|
|
9,063,900
|
|
|
9,514,099
|
|
Leasehold improvements
|
|
3,397,879
|
|
|
3,728,496
|
|
|
|
205,303,981
|
|
|
207,081,579
|
|
Accumulated depreciation
|
|
(140,327,198
|
)
|
|
(138,586,625
|
)
|
|
|
64,976,783
|
|
|
68,494,954
|
|
Land
|
|
5,570,408
|
|
|
4,891,626
|
|
Construction and projects in progress
|
|
15,004,154
|
|
|
14,535,546
|
|
|
Ps.
|
85,551,345
|
|
Ps.
|
87,922,126
|
|
7. |
Right-of-use Assets, Net
|
|
|
March 31, 2022
|
|
|
December 31, 2021
|
|
Buildings
|
Ps.
|
5,860,567
|
|
Ps.
|
6,289,224
|
|
Satellite transponders
|
|
4,275,619
|
|
|
4,275,619
|
|
Technical equipment
|
|
1,999,427
|
|
|
1,999,573
|
|
Computer equipment
|
|
117,079
|
|
|
437,361
|
|
Others
|
|
526,887
|
|
|
321,460
|
|
|
|
12,779,579
|
|
|
13,323,237
|
|
Accumulated depreciation
|
|
(5,769,554
|
)
|
|
(5,718,670
|
)
|
|
Ps.
|
7,010,025
|
|
Ps.
|
7,604,567
|
|
8. |
Intangible Assets and Goodwill, Net
|
9. |
Debt and Lease Liabilities
|
|
|
|
|
|
|
|
|
March 31,
2022
|
|
|
December 31, 2021
|
|
|
|
Principal
|
|
|
Finance Costs
|
|
|
Principal, Net
|
|
|
Principal, Net
|
|
U.S. dollar debt:
|
|
|
|
|
|
|
|
|
|
|
|
|
6.625% Senior Notes due 2025 (1)
|
Ps.
|
7,946,800
|
|
Ps.
|
(74,331
|
)
|
Ps.
|
7,872,469
|
|
Ps.
|
12,177,355
|
|
4.625% Senior Notes due 2026 (1)
|
|
5,960,100
|
|
|
(18,215
|
)
|
|
5,941,885
|
|
|
6,131,473
|
|
8.5% Senior Notes due 2032 (1)
|
|
5,960,100
|
|
|
(17,662
|
)
|
|
5,942,438
|
|
|
6,132,826
|
|
6.625% Senior Notes due 2040 (1)
|
|
11,920,200
|
|
|
(112,523
|
)
|
|
11,807,677
|
|
|
12,187,745
|
|
5% Senior Notes due 2045 (1)
|
|
19,867,000
|
|
|
(391,825
|
)
|
|
19,475,175
|
|
|
20,107,046
|
|
6.125% Senior Notes due 2046 (1)
|
|
17,880,300
|
|
|
(113,300
|
)
|
|
17,767,000
|
|
|
18,338,293
|
|
5.250% Senior Notes due 2049 (1)
|
|
14,900,250
|
|
|
(281,268
|
)
|
|
14,618,982
|
|
|
15,093,468
|
|
Total U.S. dollar debt
|
Ps.
|
84,434,750
|
|
Ps.
|
(1,009,124
|
)
|
Ps.
|
83,425,626
|
|
Ps.
|
90,168,206
|
|
Mexican peso debt:
|
|
|
|
|
|
|
|
|
|
|
|
|
8.79% Notes due 2027 (2)
|
|
4,500,000
|
|
|
(13,172
|
)
|
|
4,486,828
|
|
|
4,486,238
|
|
8.49% Senior Notes due 2037 (1)
|
|
4,500,000
|
|
|
(10,997
|
)
|
|
4,489,003
|
|
|
4,488,822
|
|
7.25% Senior Notes due 2043 (1)
|
|
6,500,000
|
|
|
(50,131
|
)
|
|
6,449,869
|
|
|
6,449,277
|
|
Bank loans (3)
|
|
10,000,000
|
|
|
(48,274
|
)
|
|
9,951,726
|
|
|
15,939,483
|
|
Bank loans (Sky) (4)
|
|
3,650,000
|
|
|
-
|
|
|
3,650,000
|
|
|
3,650,000
|
|
Bank loans (TVI) (5)
|
|
549,782
|
|
|
(164
|
)
|
|
549,618
|
|
|
610,116
|
|
Total Mexican peso debt
|
Ps.
|
29,699,782
|
|
Ps.
|
(122,738
|
)
|
Ps.
|
29,577,044
|
|
Ps.
|
35,623,936
|
|
Total debt (6)
|
|
114,134,532
|
|
|
(1,131,862
|
)
|
|
113,002,670
|
|
|
125,792,142
|
|
Less: Current portion of long-term debt
|
|
1,549,782
|
|
|
(164
|
)
|
|
1,549,618
|
|
|
4,106,432
|
|
Long-term debt, net of current portion
|
Ps.
|
112,584,750
|
|
Ps.
|
(1,131,698
|
)
|
Ps.
|
111,453,052
|
|
Ps.
|
121,685,710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2022
|
|
|
December 31, 2021
|
|
Lease liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Satellite transponder lease obligation (7)
|
|
|
|
|
|
|
Ps.
|
3,231,878
|
|
Ps.
|
3,457,524
|
|
Other lease liabilities(8)
|
|
|
|
|
|
|
|
5,642,469
|
|
|
6,223,035
|
|
Total lease liabilities
|
|
|
|
|
|
|
|
8,874,347
|
|
|
9,680,559
|
|
Less: Current portion
|
|
|
|
|
|
|
|
1,475,586
|
|
|
1,478,382
|
|
Lease liabilities, net of current portion
|
|
|
|
|
|
|
Ps.
|
7,398,761
|
|
Ps.
|
8,202,177
|
|
(1)
|
The Senior Notes due between 2025 and 2049, in the aggregate outstanding principal amount of U.S.$4,450 million and
Ps.11,000,000, are unsecured obligations of the Company, rank equally in right of payment with all existing and future unsecured and unsubordinated indebtedness of the Company, and are junior in right of payment to all of
the existing and future liabilities of the Company’s subsidiaries. Interest rate on the Senior Notes due 2025, 2026, 2032, 2037, 2040, 2043, 2045, 2046, and 2049 including additional amounts payable in respect of certain
Mexican withholding taxes, is 6.97%, 4.86%, 8.94%, 8.93%, 6.97%, 7.62%, 5.26%, 6.44% and 5.52% per annum, respectively, and is payable semi-annually. These Senior Notes may not be redeemed prior to maturity, except: (i) in
the event of certain changes in law affecting the Mexican withholding tax treatment of certain payments on the securities, in which case the securities will be redeemable, in whole or in part, at the option of the Company;
and (ii) in the event of a change of control, in which case the Company may be required to redeem the securities at 101% of their principal amount. Also, the Company may, at its own option, redeem the Senior Notes due 2025,
2026, 2037, 2040, 2043, 2046 and 2049, in whole or in part, at any time at a redemption price equal to the greater of the principal amount of these Senior Notes or the present value of future cash flows, at the redemption
date, of principal and interest amounts of the Senior Notes discounted at a fixed rate of comparable U.S. or Mexican sovereign bonds. The Senior Notes due 2026, 2032, 2040, 2043, 2045, 2046 and 2049 were priced at 99.385%,
99.431%, 98.319%, 99.733%, 96.534%, 99.677% and 98.588%, respectively, for a yield to maturity of 4.70%, 8.553%, 6.755%, 7.27%, 5.227%, 6.147% and 5.345%, respectively. The Senior Notes due 2025 were issued in two aggregate
principal amounts of U.S.$400 million and U.S.$200 million, and were priced at 98.081% and 98.632%, respectively, for a yield to maturity of 6.802% and 6.787%, respectively. In March 2022, the Company made a partial
redemption of U.S.$200 million aggregate principal amount of its U.S.$600 million 6.625% Senior Notes due 2025 (the “Notes”). The Notes redemption was completed in the aggregate amount of U.S.$221.3 million, which included
principal amount of U.S.$200.0 million and U.S.$21.3 million related to the apllicable redemption price and accrued and unpaid interest. The agreement of these Senior Notes contains covenants that limit the ability of the
Company and certain restricted subsidiaries engaged in the Group’s Content segment, to incur or assume liens, perform sale and leaseback transactions, and consummate certain mergers, consolidations and similar transactions.
The Senior Notes due 2025, 2026, 2032, 2037, 2040, 2045, 2046 and 2049 are registered with the U.S. Securities and Exchange Commission (“SEC”). The Senior Notes due 2043 are registered with both the SEC and the Mexican
Banking and Securities Commission (“Comisión Nacional Bancaria y de Valores” or “CNBV”).
|
(2)
|
In 2017, the Company issued Notes (“Certificados Bursátiles”) due 2027, through the BMV in the aggregate principal amount of
Ps.4,500,000, interest rate on the Notes due 2027 is 8.79% per annum and is payable semi-annually. The Company may, at its own option, redeem the Notes due 2027, in whole or in part, at any semi-annual interest payment
date at a redemption price equal to the greater of the principal amount of the outstanding Notes and the present value of future cash flows, at the redemption date, of principal and interest amounts of the Notes
discounted at a fixed rate of comparable Mexican sovereign bonds. The agreement of the Notes
|
contains covenants that limit the ability of the Company and certain restricted subsidiaries appointed by the Company’s Board of
Directors, and engaged in the Group’s Content segment, to incur or assume liens, perform sale and leaseback transactions, and consummate certain mergers, consolidations and similar transactions.
|
(3)
|
In 2017, the Company entered into long-term credit agreements with three Mexican banks, in the aggregate principal amount of
Ps.6,000,000, with an annual interest rate payable on a monthly basis of 28-day TIIE plus a range between 125 and 130 basis points, and principal maturities between 2022 and 2023. In February and March 2022, the Company
prepaid these outstanding long-term loans in the aggregate principal amount of Ps.6,000,000, and related accrued interest for an aggregate amount of Ps.37,057. Under the terms of these loan agreements, the Company was
required to: (a) maintain certain financial coverage ratios related to indebtedness and interest expense; and (b) comply with the restrictive covenant on certain spin-offs, mergers and similar transactions. In July 2019, the
Company entered into a credit agreement for a five-year term loan with a syndicate of banks in the aggregate principal amount of Ps.10,000,000. The funds from this loan were used for general corporate purposes, including the
refinancing of the Company’s indebtedness. This loan bears interest at a floating rate based on a spread of 105 or 130 basis points over the 28-day TIIE rate depending on the Group’s net leverage ratio. The credit agreement
of this loan requires the maintenance of financial ratios related to indebtedness and interest expense.
|
(4)
|
In March 2016, Sky entered into long-term credit agreements with two Mexican banks in the aggregate principal amount of
Ps.5,500,000, with maturities between 2021 and 2023, and interest payable on a monthly basis with an annual interest rate in the range of 7.0% and 7.13%. In July 2020, Sky prepaid a portion of these loans in the aggregate
cash amount of Ps.2,818,091, which included a principal amount of Ps.2,750,000, and related accrued interest and transaction costs in the aggregate amount of Ps.68,091. In December 2021, Sky prepaid the remaining portion of
these loans in the aggregate cash amount of Ps.1,750,365, which included a principal amount of Ps.1,750,000, and related accrued interest in the amount of Ps.365. In December 2021, Sky entered into a long-term credit
agreement with a Mexican Bank in the aggregate principal amount of Ps.2,650,000, with maturity in December 2026, which included a Ps.1,325,000 loan with an annual interest rate of 8.215%, and a Ps.1,325,000 loan with an
annual interest rate payable on a monthly basis of 28-day TIIE plus 90 basis points.The funds from these loans will be used for general corporate purposes, including the prepayment of Sky´s indebtedness. Under the terms of
these credit agreements, Sky is required to: (a) maintain certain financial coverage ratios related to indebtedness and interest expense; and (b) comply with a restrictive covenant on spin-offs, mergers and similar
transactions.
|
(5)
|
As of March 31, 2022 and December 31, 2021, included outstanding balances in the aggregate principal amount of Ps.549,782 and
Ps.610,404, respectively, in connection with credit agreements entered into by TVI with Mexican banks, with maturities between 2020 and 2022, bearing interest at an annual rate of TIIE plus a range between 100 and 125 basis
points, which is payable on a monthly basis. This TVI long- term indebtedness is guaranteed by the Company. Under the terms of these credit agreements, TVI is required to comply with certain restrictive covenants and
financial coverage ratios.
|
(6)
|
Principal amount of total debt as of December 31, 2021 is presented net of unamortized finance costs, in the aggregate amount of
Ps.1,207,057.
|
(7)
|
Under a capital lease agreement entered into with Intelsat Global Sales & Marketing Ltd. (“Intelsat”) in March 2010, Sky is
obligated to pay at an annual interest rate of 7.30% a monthly fee through 2027 of U.S.$3.0 million for satellite signal reception and retransmission service from 24 KU-band transponders on satellite IS-21, which became
operational in October 2012. The service term for IS-21 will end at the earlier of: (a) the end of 15 years or; (b) the date IS-21 is taken out of service (see Note 7).
|
(8)
|
Lease liabilities recognized beginning on January 1, 2019 under IFRS 16 Leases (“IFRS
16”) in the aggregate amount of Ps.4,994,555 and Ps.5,533,552, as of March 31, 2022 and December 31, 2021, respectively. These lease liabilities have terms which expire at various dates between 2021 and 2051. Lease
liabilities also includes Ps.647,914 and Ps.689,483, as of March 31, 2022 and December 31, 2021, respectively, in connection with a lease agreement entered into by a subsidiary of the Company and GTAC, for the right to use
certain capacity of a telecommunications network through 2030.
|
|
.
|
March 31, 2022
|
|
|
December 31, 2021
|
||||||
Hedged ítems
|
|
Millions of U.S. dollars
|
|
|
Thousands of Mexican Pesos
|
|
|
Millions of U.S. dollars
|
|
|
Thousands of Mexican Pesos
|
Investment in shares of UH II and UHI (net investment hedge)
|
U.S.$
|
2,778.2
|
|
Ps.
|
55,195,106
|
|
U.S.$
|
1,254.5
|
|
Ps.
|
25,721,539
|
Open-Ended Fund (foreign currency fair value hedge)
|
|
42.0
|
|
|
834,849
|
|
|
46.1
|
|
|
945,176
|
Total
|
U.S.$
|
2,820.2
|
|
Ps.
|
56,029,955
|
|
U.S.$
|
1,300.6
|
|
Ps.
|
26,666,715
|
Foreign Exchange Gain or Loss Derived from Senior Notes Designated as Hedging Instruments
|
|
March 31, 2022
|
|
|
December 31, 2021
|
|
Recognized in:
|
|
|
|
|
|
|
Comprehensive gain (loss)
|
Ps.
|
2,383,398
|
|
Ps.
|
(604,856
|
)
|
Total foreign exchange gain (loss) derived from hedging Senior Notes
|
Ps.
|
2,383,398
|
|
Ps.
|
(604,856
|
)
|
Offset against by:
|
|
|
|
|
|
|
Foreign currency translation (loss) gain derived from the hedged net investment in shares of UH II and UHI
|
Ps.
|
(2,309,217
|
)
|
Ps.
|
505,183
|
|
Foreign exchange (loss) gain derived from the hedged Open-Ended Fund
|
|
(74,181
|
)
|
|
99,673
|
|
Total foreign currency translation and foreign exchange (loss) gain derived from hedged
assets
|
Ps.
|
(2,383,398
|
)
|
Ps.
|
604,856
|
|
|
|
Less than 12 Months
April 1, 2022
to March 31, 2023
|
|
|
12-36
Months
April 1, 2023 to March
31, 2025
|
|
|
36-60
Months
April 1, 2025
to March 31, 2026
|
|
|
Maturities Subsequent to March 31, 2026
|
|
|
Total
|
|
Debt (1)
|
Ps.
|
1,549,782
|
|
Ps.
|
17,946,800
|
|
Ps.
|
5,960,100
|
|
Ps.
|
88,677,850
|
|
Ps.
|
114,134,532
|
|
Lease liabilities
|
|
1,475,586
|
|
|
2,454,388
|
|
|
2,575,921
|
|
|
2,368,452
|
|
|
8,874,347
|
|
Total debt and lease liabilities
|
Ps.
|
3,025,368
|
|
Ps.
|
20,401,188
|
|
Ps.
|
8,536,021
|
|
Ps.
|
91,046,302
|
|
Ps.
|
123,008,879
|
|
(1)
|
The amounts of debt are disclosed on a principal amount basis.
|
10. |
Financial Instruments
|
|
|
March 31, 2022
|
|
|
December 31, 2021
|
|
||||||
|
|
Carrying Amount
|
|
|
Fair Value
|
|
|
Carrying Amount
|
|
|
Fair Value
|
|
Assets:
Cash and cash equivalents
|
Ps.
|
61,071,991
|
|
Ps.
|
61,071,991
|
|
Ps.
|
25,828,215
|
|
Ps.
|
25,828,215
|
|
Trade notes and accounts receivable, net
|
|
8,725,292
|
|
|
8,725,292
|
|
|
13,093,011
|
|
|
13,093,011
|
|
Long-term loans and interest receivable from GTAC (see Note 5)
|
|
748,979
|
|
|
753,410
|
|
|
755,973
|
|
|
760,143
|
|
Open-Ended Fund (see Note 4)
|
|
834,849
|
|
|
834,849
|
|
|
945,176
|
|
|
945,176
|
|
Publicly traded equity instruments (see Note 4)
|
|
3,022,025
|
|
|
3,022,025
|
|
|
3,517,711
|
|
|
3,517,711
|
|
Other equity instruments (see Note 4)
|
|
-
|
|
|
-
|
|
|
1,607,969
|
|
|
1,607,969
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Senior Notes due 2025, 2032 and 2040
|
Ps.
|
25,827,100
|
|
Ps.
|
30,834,736
|
|
Ps.
|
30,754,650
|
|
Ps.
|
39,592,552
|
|
Senior Notes due 2045
|
|
19,867,000
|
|
|
20,606,648
|
|
|
20,503,100
|
|
|
24,205,140
|
|
Senior Notes due 2037 and 2043
|
|
11,000,000
|
|
|
8,467,380
|
|
|
11,000,000
|
|
|
8,722,100
|
|
Senior Notes due 2026 and 2046
|
|
23,840,400
|
|
|
27,877,533
|
|
|
24,603,720
|
|
|
31,714,380
|
|
Senior Notes due 2049
|
|
14,900,250
|
|
|
16,440,191
|
|
|
15,377,325
|
|
|
19,307,154
|
|
Notes due 2027
|
|
4,500,000
|
|
|
4,323,330
|
|
|
4,500,000
|
|
|
4,509,405
|
|
Long-term notes payable to Mexican banks
|
|
14,199,782
|
|
|
14,276,858
|
|
|
20,260,404
|
|
|
20,417,854
|
|
Lease liabilities
|
|
8,874,347
|
|
|
8,928,534
|
|
|
9,680,559
|
|
|
9,830,878
|
|
March 31, 2022:
Derivative Financial Instruments
|
|
Carrying Amount
|
|
|
Notional Amount (U.S. Dollars in Thousands
|
)
|
|
Maturity Date
|
|
|
|
|
|
|
|
|
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
Derivatives recorded as accounting hedges:
(cash flow hedges)
|
|
|
|
|
|
|
|
|
|
TVI’s interest rate swap
|
Ps.
|
80
|
|
Ps.
|
78,900
|
|
|
May 2022
|
|
Interest rate swaps
|
|
1,473
|
|
Ps.
|
2,000,000
|
|
|
October 2022
|
|
Interest rate swaps
|
|
2,545
|
|
Ps.
|
1,500,000
|
|
|
October 2022
|
|
Interest rate swaps
|
|
3,565
|
|
Ps.
|
2,500,000
|
|
|
February 2023
|
|
Interest rate swaps
|
|
360,454
|
|
Ps.
|
10,000,000
|
|
|
June 2024
|
|
Total assets
|
Ps.
|
368,117
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
Derivatives recorded as accounting hedges:
(cash flow hedges)
|
|
|
|
|
|
|
|
|
|
TVI’s interest rate swap
|
Ps.
|
225
|
|
Ps.
|
470,882
|
|
|
April 2022
|
|
Total liabilities
|
Ps.
|
225
|
|
|
|
|
|
|
|
December 31, 2021:
Derivative Financial Instruments
|
|
Carrying Amount
|
|
|
Notional Amount (U.S. Dollars in Thousands
|
)
|
|
Maturity Date
|
|
|
|
|
|
|
|
|
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
Derivatives recorded as accounting hedges:
(cash flow hedges)
|
|
|
|
|
|
|
|
|
|
TVI’s interest rate swap
|
Ps.
|
127
|
|
Ps.
|
87,600
|
|
|
May 2022
|
|
Interest rate swaps
|
|
133,197
|
|
Ps.
|
10,000,000
|
|
|
June 2024
|
|
Total assets
|
Ps.
|
133,324
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
Derivatives recorded as accounting hedges:
(cash flow hedges)
|
|
|
|
|
|
|
|
|
|
TVI’s interest rate swap
|
Ps.
|
2,015
|
|
Ps.
|
522,804
|
|
|
April 2022
|
|
Interest rate swaps
|
|
9,749
|
|
Ps.
|
2,000,000
|
|
|
October 2022
|
|
Interest rate swaps
|
|
7,243
|
|
Ps.
|
1,500,000
|
|
|
October 2022
|
|
Interest rate swaps
|
|
23,798
|
|
Ps.
|
2,500,000
|
|
|
February 2023
|
|
Forwards
|
|
35,524
|
|
U.S.$
|
67,125
|
|
|
January 2022 through March 2022
|
|
Derivatives not recorded as accounting hedges:
|
|
|
|
|
|
|
|
|
|
Interest rate swap
|
|
2,943
|
|
Ps.
|
9,385,347
|
|
|
March 2022
|
|
TVI’s forwards
|
|
10,057
|
|
U.S.$
|
12,600
|
|
|
January 2022 through February 2022
|
|
Empresas Cablevisión´s forward
|
|
11,006
|
|
U.S.$
|
13,820
|
|
|
January 2022 through February 2022
|
|
Sky’s forwards
|
|
14,054
|
|
U.S.$
|
15,000
|
|
|
February 2022
|
|
Forwards
|
|
56,496
|
|
U.S.$
|
57,620
|
|
|
January 2022 through February 2022
|
|
Total liabilities
|
Ps.
|
172,885
|
|
|
|
|
|
|
|
11. |
Capital Stock and Long-Term Retention Plan
|
|
|
Authorized and Issued (1)
|
|
|
Repurchased by the Company (2)
|
|
|
Held by a Company´s Trust (3)
|
|
|
Outstanding
|
|
Series “A” Shares
|
|
121,073.9
|
|
|
-
|
|
|
(6,665.3)
|
|
|
114,408.6
|
|
Series “B” Shares
|
|
57,046.9
|
|
|
-
|
|
|
(5,298.7)
|
|
|
51,748.2
|
|
Series “D” Shares
|
|
87,006.6
|
|
|
-
|
|
|
(4,680.0)
|
|
|
82,326.6
|
|
Series “L” Shares
|
|
87,006.6
|
|
|
-
|
|
|
(4,680.0)
|
|
|
82,326.6
|
|
Total
|
|
352,134.0
|
|
|
-
|
|
|
(21,324.0)
|
|
|
330,810.0
|
|
Shares in the form of CPOs
|
|
290,849.7
|
|
|
-
|
|
|
(15,644.5)
|
|
|
275,205.2
|
|
Shares not in the form of CPOs
|
|
61,284.3
|
|
|
-
|
|
|
(5,679.5)
|
|
|
55,604.8
|
|
Total
|
|
352,134.0
|
|
|
-
|
|
|
(21,324.0)
|
|
|
330,810.0
|
|
CPOs
|
|
2,485.9
|
|
|
-
|
|
|
(133.7)
|
|
|
2,352.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
As of March 31, 2022, the authorized and issued capital stock amounted to Ps.4,836,708 (nominal Ps.2,423,549).
|
(2)
|
In connection with a share repurchase program that was approved by the Company’s stockholders and is exercised at the
discretion of management. During the three months ended March 31, 2022, the Company did not buy any shares under this program. In April 2021, the Company’s stockholders approved the cancellation of 5,173.2 million shares
of capital stock in the form of 44.2 million CPOs which were repurchased by the Company in 2019 and 2020 under this program.
|
(3)
|
In connection with the Company’s Long-Term Retention Plan (“LTRP”) described below.
|
|
|
Series “A” Shares
|
|
|
Series “B” Shares
|
|
|
Series “D” Shares
|
|
|
Series “L” Shares
|
|
|
Shares Outstanding
|
|
|
CPOs Outstanding
|
|
As of January 1, 2022
|
|
114,085.0
|
|
|
51,463.5
|
|
|
81,873.7
|
|
|
81,873.7
|
|
|
329,295.9
|
|
|
2,339.2
|
|
Acquired (1)
|
|
(430.0)
|
|
|
(378.4)
|
|
|
(602.0)
|
|
|
(602.0)
|
|
|
(2,012.4)
|
|
|
(17.2)
|
|
Forfeited (1)
|
|
(14.6)
|
|
|
(12.8)
|
|
|
(20.4)
|
|
|
(20.4)
|
|
|
(68.2)
|
|
|
(0.5)
|
|
Released (1)
|
|
768.2
|
|
|
675.9
|
|
|
1,075.3
|
|
|
1,075.3
|
|
|
3,594.7
|
|
|
30.7
|
|
As of March 31, 2022
|
|
114,408.6
|
|
|
51,748.2
|
|
|
82,326.6
|
|
|
82,326.6
|
|
|
330,810.0
|
|
|
2,352.2
|
|
|
|
Series “A” Shares
|
|
|
Series “B” Shares
|
|
|
Series “D” Shares
|
|
|
Series “L” Shares
|
|
|
Shares Outstanding
|
|
|
CPOs Outstanding
|
|
As of January 1, 2021
|
|
113,019.2
|
|
|
50,928.5
|
|
|
81,022.4
|
|
|
81,022.4
|
|
|
325,992.5
|
|
|
2,314.9
|
|
Acquired (1)
|
|
(101.3
|
)
|
|
(89.2
|
)
|
|
(141.7
|
)
|
|
(141.7
|
)
|
|
(473.9
|
)
|
|
(4.0
|
)
|
As of March 31, 2021
|
|
112,917.9
|
|
|
50,839.3
|
|
|
80,880.7
|
|
|
80,880.7
|
|
|
325,518.6
|
|
|
2,310.9
|
|
(1)
|
Acquired, released, cancelled or forfeited by a Company’s trust in connection with the Company’s LTRP.
|
12. |
Retained Earnings
|
13. |
Non-controlling Interests
|
14. |
Transactions with Related Parties
|
|
|
March 31, 2022
|
|
|
December 31, 2021
|
|
Current receivables:
|
|
|
|
|
|
|
Televisa, S. de R.L. de C.V
|
Ps.
|
5,774,269
|
|
Ps.
|
-
|
|
TelevisaUnivision (formerly known as UH II)(1)
|
|
133,684
|
|
|
819,355
|
|
Televisa Producciones, S.A. de C.V.
|
|
84,429
|
|
|
-
|
|
Publicidad Virtual, S.A. de C.V.
|
|
54,180
|
|
|
-
|
|
Servicios RTMN, S.A. de C.V.
|
|
29,845
|
|
|
-
|
|
Other
|
|
154,069
|
|
|
55,497
|
|
|
Ps.
|
6,230,476
|
|
Ps.
|
874,852
|
|
|
|
|
|
|
|
|
Current payable:
|
|
|
|
|
|
|
Gyali, S.A. de C.V.
|
Ps.
|
214,555
|
|
Ps.
|
-
|
|
AT&T/ DirecTV
|
|
92,744
|
|
|
54,598
|
|
Other
|
|
73,090
|
|
|
27,472
|
|
|
Ps.
|
380,389
|
|
Ps.
|
82,070
|
|
(1)
|
Through December 31, 2021, receivables from UH II were related primarily to the PLA and amounted to Ps.819,355.
|
15.
|
Other Income or Expense, Net
|
|
|
March 31, 2022
|
|
|
March 31, 2021
|
|
Donations
|
Ps.
|
(13,115
|
)
|
Ps.
|
-
|
|
Legal and financial advisory and professional services (1)
|
|
(38,293
|
)
|
|
(29,056
|
)
|
Gain (loss) on disposition of property and equipment
|
|
42,433
|
|
|
(15,602
|
)
|
Deferred compensation (2)
|
|
(51,910
|
)
|
|
-
|
|
Dismissal severance expense (3)
|
|
(75,467
|
)
|
|
(468
|
)
|
Expense related to COVID-19
|
|
(14,624
|
)
|
|
(30,614
|
)
|
Other, net
|
|
(17,352
|
)
|
|
(1,898
|
)
|
|
Ps.
|
(168,328
|
)
|
Ps.
|
(77,638
|
)
|
(1)
|
Includes primarily advisory and professional services in connection with certain litigation, financial advisory, and other
matters.
|
(2)
|
Includes the service cost of a long-term deferred compensation plan for certain officers of the Group’s Cable segment, which become payable in the
event that certain financial targets (as defined in the plan) are met.
|
(3)
|
Includes severance expense in connection with dismissals of personnel, as a part of a continued cost reduction plan.
|
16.
|
Finance Expense, Net
|
|
|
March 31, 2022
|
|
|
March 31, 2021
|
|
Interest expense (1)
|
Ps.
|
(2,805,853
|
)
|
Ps.
|
(2,305,490
|
)
|
Other finance expense, net (2)
|
|
(115,303
|
)
|
|
(117,072
|
)
|
Foreign exchange loss, net (4)
|
|
(2,307,433
|
)
|
|
(1,374,570
|
)
|
Finance expense
|
|
(5,228,589
|
)
|
|
(3,797,132
|
)
|
Interest income (3)
|
|
338,920
|
|
|
181,119
|
|
Finance income
|
|
338,920
|
|
|
181,119
|
|
Finance expense, net
|
Ps.
|
(4,889,669
|
)
|
Ps.
|
(3,616,013
|
)
|
(1)
|
In the three months ended March 31, 2022 and 2021, included interest expense related to lease liabilities that were
recognized in accordance with the guidelines of IFRS 16, in the aggregate amount of Ps.125,923 and Ps.107,555, respectively.
|
(2)
|
Other finance expense, net, included a fair value net loss from derivative financial instruments.
|
(3)
|
This line item included primarily interest income from cash equivalents.
|
(4)
|
Foreign exchange loss, net, included: (i) foreign exchange net loss resulted primarily from the appreciation or
depreciation of the Mexican peso against the U.S. dollar on the Group’s U.S.dollar-denominated monetary asset or liability position, excluding designated hedging long-term debt of the Group’s investments in
TelevisaUnivision (formerly known as UH II) and Open-Ended Fund, during the three months ended March 31, 2022 and 2021 (see Note 9). The exchange rate of the Mexican peso against the U.S dollar was of Ps.19.8670,
Ps.20.5031, Ps.20.4692 and Ps.19.9493 as of March 31, 2022, December 31, 2021, March 31, 2021 and December 31, 2020, respectively.
|
17. |
Income Taxes
|
18. |
Earnings per CPO/Share
|
|
|
March 31, 2022
|
|
|
March 31, 2021
|
|
Total Shares
|
Ps.
|
329,721,012
|
|
Ps.
|
325,635,417
|
|
CPOs
|
|
2,342,874
|
|
|
2,311,868
|
|
Shares not in the form of CPO units:
|
|
|
|
|
|
|
Series “A” Shares
|
|
55,604,076
|
|
|
55,146,232
|
|
Series “B” Shares
|
|
187
|
|
|
187
|
|
Series “D” Shares
|
|
239
|
|
|
239
|
|
Series “L” Shares
|
|
239
|
|
|
239
|
|
|
|
2022
|
|
|
2021
|
|
||||||
|
|
Per CPO
|
|
Per Share (*
|
)
|
|
Per CPO
|
|
|
Per Share (*
|
)
|
|
Loss from continuing operations attributable to stockholders of the Company
|
Ps.
|
(0.72
|
)
|
Ps.
|
(0.01
|
)
|
Ps.
|
(0.44
|
)
|
Ps.
|
0.0
|
|
Income from discontinued operations attributable to stockholders of the Company
|
|
19.40
|
|
|
0.17
|
|
|
0.23
|
|
|
0.0
|
|
Net income (loss) attributable to stockholders of the Company
|
Ps.
|
18.68
|
|
Ps.
|
0.16
|
|
Ps.
|
(0.21
|
)
|
Ps.
|
0.0
|
|
|
|
March 31, 2022
|
|
|
March 31, 2021
|
|
Total Shares
|
Ps.
|
352,134,036
|
|
Ps.
|
352,134,036
|
|
CPOs
|
|
2,485,895
|
|
|
2,485,895
|
|
Shares not in the form of CPO units:
|
|
|
|
|
|
|
Series “A” Shares
|
|
58,926,613
|
|
|
58,926,613
|
|
Series “B” Shares
|
|
2,357,208
|
|
|
2,357,208
|
|
Series “D” Shares
|
|
239
|
|
|
239
|
|
Series “L” Shares
|
|
239
|
|
|
239
|
|
|
|
2022
|
|
|
2021
|
|
|||||||
|
|
Per CPO
|
|
Per Share (*
|
)
|
|
Per CPO
|
|
|
Per Share (*
|
)
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations attributable to stockholders of the Company
|
Ps.
|
(0.67
|
)
|
Ps.
|
(0.01
|
)
|
Ps.
|
(0.41
|
)
|
Ps.
|
0.0
|
|
|
Income from discontinued operations attributable to stockholders of the Company
|
|
18.16
|
|
|
0.16
|
|
|
0.22
|
|
|
0.0
|
|
|
Net income (loss) attributable to stockholders of the Company
|
Ps.
|
17.49
|
|
Ps.
|
0.15
|
|
Ps.
|
(0.19
|
)
|
Ps.
|
0.0
|
|
19. |
Segment Information
|
|
|
Total Revenues
|
|
|
Intersegment Revenues
|
|
|
Consolidated Revenues
|
|
|
Segment Income
|
|
2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cable
|
Ps.
|
11,804,454
|
|
Ps.
|
14,044
|
|
Ps.
|
11,790,410
|
|
Ps.
|
4,979,286
|
|
Sky
|
|
5,275,731
|
|
|
752
|
|
|
5,274,979
|
|
|
1,861,416
|
|
Other Businesses
|
|
1,661,173
|
|
|
117,349
|
|
|
1,543,824
|
|
|
376,524
|
|
Segment total of continuing operations
|
|
18,741,358
|
|
|
132,145
|
|
|
18,609,213
|
|
|
7,217,226
|
|
Reconciliation to consolidated amounts:
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate expenses
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(333,735
|
)
|
Intersegment operations
|
|
(132,145
|
)
|
|
(132,145
|
)
|
|
-
|
|
|
(418
|
)
|
Depreciation and amortization
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(5,077,384
|
)
|
Consolidated net sales and operating income
before other expense
|
|
18,609,213
|
|
|
-
|
|
|
18,609,213
|
|
|
1,805,689
|
(1) |
Other expense, net
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(168,328
|
)
|
Consolidated net sales and operating income of continuing operations
|
|
18,609,213
|
|
|
-
|
|
|
18,609,213
|
|
|
1,637,361
|
|
Discontinued operations
|
|
2,302,875
|
|
|
-
|
|
|
2,302,875
|
|
|
281,699
|
|
Consolidated net sales and operating income
|
Ps.
|
20,912,088
|
|
Ps.
|
-
|
|
Ps.
|
20,912,088
|
|
Ps.
|
1,919,060
|
(2)
|
|
|
Total
Revenues
|
|
|
Intersegment Revenues
|
|
|
Consolidated Revenues
|
|
|
Segment Income
|
|
2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cable
|
Ps.
|
11,676,463
|
|
Ps.
|
12,124
|
|
Ps.
|
11,664,339
|
|
Ps.
|
4,834,623
|
|
Sky
|
|
5,624,789
|
|
|
61
|
|
|
5,624,728
|
|
|
2,154,391
|
|
Other Businesses
|
|
859,529
|
|
|
126,306
|
|
|
733,223
|
|
|
(9,400
|
)
|
Segment total of continuing operations
|
|
18,160,781
|
|
|
138,491
|
|
|
18,022,290
|
|
|
6,979,614
|
|
Reconciliation to consolidated amounts:
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate expenses
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(423,328
|
)
|
Intersegment operations
|
|
(138,491
|
)
|
|
(138,491
|
)
|
|
-
|
|
|
(400
|
)
|
Depreciation and amortization
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(4,658,176
|
)
|
Consolidated net sales and operating income
before other expense
|
|
18,022,290
|
|
|
-
|
|
|
18,022,290
|
|
|
1,897,710
|
(1) |
Other expense, net
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(77,638
|
)
|
Consolidated net sales and operating
income of continuing operations
|
|
18,022,290
|
|
|
-
|
|
|
18,022,290
|
|
|
1,820,072
|
|
Discontinued operations
|
|
7,340,088
|
|
|
-
|
|
|
7,340,088
|
|
|
1,724,735
|
|
Consolidated net sales and operating
income
|
Ps.
|
25,362,378
|
|
Ps.
|
-
|
|
Ps.
|
25,362,378
|
|
Ps.
|
3,544,807
|
(2)
|
(1)
|
This amount represents operating income before other income or expense, net.
|
(2)
|
This amount represents consolidated operating income.
|
|
|
Domestic
|
|
|
Export
|
|
|
Abroad
|
|
|
Total
|
|
March 31, 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cable:
|
|
|
|
|
|
|
|
|
|
|
|
|
Digital TV Service
|
Ps.
|
3,932,596
|
|
Ps.
|
-
|
|
Ps.
|
-
|
|
Ps.
|
3,932,596
|
|
Advertising
|
|
467,435
|
|
|
-
|
|
|
-
|
|
|
467,435
|
|
Broadband Services
|
|
4,831,887
|
|
|
-
|
|
|
-
|
|
|
4,831,887
|
|
Telephony
|
|
1,271,724
|
|
|
-
|
|
|
-
|
|
|
1,271,724
|
|
Other Services
|
|
150,067
|
|
|
-
|
|
|
-
|
|
|
150,067
|
|
Enterprise Operations
|
|
1,097,443
|
|
|
-
|
|
|
53,302
|
|
|
1,150,745
|
|
Sky:
|
|
|
|
|
|
|
|
|
|
|
|
|
DTH Broadcast Satellite TV
|
|
4,666,668
|
|
|
-
|
|
|
323,395
|
|
|
4,990,063
|
|
Advertising
|
|
225,822
|
|
|
-
|
|
|
-
|
|
|
225,822
|
|
Pay-Per-View
|
|
56,883
|
|
|
-
|
|
|
2,963
|
|
|
59,846
|
|
Other Businesses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
573,710
|
|
|
-
|
|
|
-
|
|
|
573,710
|
|
Soccer, Sports and Show Business Promotion
|
|
503,921
|
|
|
142,095
|
|
|
-
|
|
|
646,016
|
|
Publishing – Magazines
|
|
71,890
|
|
|
-
|
|
|
-
|
|
|
71,890
|
|
Publishing – Advertising
|
|
24,039
|
|
|
-
|
|
|
-
|
|
|
24,039
|
|
Publishing Distribution
|
|
59,647
|
|
|
-
|
|
|
-
|
|
|
59,647
|
|
Transmission Concessions Rights and Facilities of Production
|
|
285,871
|
|
|
-
|
|
|
-
|
|
|
285,871
|
|
Segment total of Continuing Operations
|
|
18,219,603
|
|
|
142,095
|
|
|
379,660
|
|
|
18,741,358
|
|
Discontinued Operations
|
|
1,487,506
|
|
|
815,369
|
|
|
-
|
|
|
2,302,875
|
|
Intersegment eliminations
|
|
(132,145
|
)
|
|
-
|
|
|
-
|
|
|
(132,145
|
)
|
Consolidated total revenues
|
Ps.
|
19,574,964
|
|
Ps.
|
957,464
|
|
Ps.
|
379,660
|
|
Ps.
|
20,912,088
|
|
|
|
Domestic
|
|
|
Export
|
|
|
Abroad
|
|
|
Total
|
|
March 31, 2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cable:
|
|
|
|
|
|
|
|
|
|
|
|
|
Digital TV Service
|
Ps.
|
4,006,448
|
|
Ps.
|
-
|
|
Ps.
|
-
|
|
Ps.
|
4,006,448
|
|
Advertising
|
|
393,331
|
|
|
-
|
|
|
-
|
|
|
393,331
|
|
Broadband Services
|
|
4,538,134
|
|
|
-
|
|
|
-
|
|
|
4,538,134
|
|
Telephony
|
|
1,222,536
|
|
|
-
|
|
|
-
|
|
|
1,222,536
|
|
Other Services
|
|
131,939
|
|
|
-
|
|
|
-
|
|
|
131,939
|
|
Enterprise Operations
|
|
1,316,362
|
|
|
-
|
|
|
67,713
|
|
|
1,384,075
|
|
Sky:
|
|
|
|
|
|
|
|
|
|
|
|
|
DTH Broadcast Satellite TV
|
|
4,923,913
|
|
|
-
|
|
|
410,508
|
|
|
5,334,421
|
|
Advertising
|
|
283,018
|
|
|
-
|
|
|
-
|
|
|
283,018
|
|
Pay-Per-View
|
|
5,026
|
|
|
-
|
|
|
2,324
|
|
|
7,350
|
|
Other Businesses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
224,926
|
|
|
-
|
|
|
-
|
|
|
224,926
|
|
Soccer, Sports and Show Business Promotion
|
|
395,756
|
|
|
6,109
|
|
|
-
|
|
|
401,865
|
|
Publishing - Magazines
|
|
77,503
|
|
|
-
|
|
|
-
|
|
|
77,503
|
|
Publishing - Advertising
|
|
17,362
|
|
|
-
|
|
|
-
|
|
|
17,362
|
|
Publishing Distribution
|
|
76,959
|
|
|
-
|
|
|
-
|
|
|
76,959
|
|
Transmission Concessions Rights and Facilities of Production
|
|
60,914
|
|
|
-
|
|
|
-
|
|
|
60,914
|
|
Segment total of Continuing Operations
|
|
17,674,127
|
|
|
6,109
|
|
|
480,545
|
|
|
18,160,781
|
|
Discontinued Operations
|
|
4,846,417
|
|
|
2,493,671
|
|
|
-
|
|
|
7,340,088
|
|
Intersegment eliminations
|
|
(138,491
|
)
|
|
-
|
|
|
-
|
|
|
(138,491
|
)
|
Consolidated total revenues
|
Ps.
|
22,382,053
|
|
Ps.
|
2,499,780
|
|
Ps.
|
480,545
|
|
Ps.
|
25,362,378
|
|
20. |
Discontinued Operations
|
|
|
For the three months ended March 31, 2022
|
|
|
For the three months ended March 31, 2021
|
|
Discontinued operations:
|
|
|
|
|
|
|
Income from discontinued operations, net
|
Ps.
|
100,721
|
|
Ps.
|
970,943
|
|
Gain (loss) on disposition of discontinued operations, net
|
|
54,664,682
|
|
|
(315,520
|
)
|
Gain on sale from discontinued operations
|
Ps.
|
54,765,403
|
|
Ps.
|
665,423
|
|
|
|
|
|
|
|
|
Results from discontinued operations: (1)
|
|
|
|
|
|
|
Net sales
|
Ps.
|
2,302,875
|
|
Ps.
|
7,340,088
|
|
Costs and expenses operations
|
|
2,001,380
|
|
|
5,540,063
|
|
Income before other expenses
|
|
301,495
|
|
|
1,800,025
|
|
Other expenses, net
|
|
19,796
|
|
|
75,290
|
|
Operating income
|
|
281,699
|
|
|
1,724,735
|
|
Finance expense, net
|
|
137,812
|
|
|
409,915
|
|
Income before income taxes
|
|
143,887
|
|
|
1,314,820
|
|
Income taxes
|
|
43,166
|
|
|
343,877
|
|
Income from discontinued operations, net
|
Ps.
|
100,721
|
|
Ps.
|
970,943
|
|
Results on disposition of discontinued operations: (2)
|
|
|
|
|
|
|
Income
|
Ps.
|
91,781,845
|
|
Ps.
|
-
|
|
Costs
|
|
17,168,599
|
|
|
-
|
|
Expenses
|
|
234,108
|
|
|
-
|
|
Income before income taxes
|
|
74,379,138
|
|
|
-
|
|
Income taxes
|
|
(19,714,456
|
)
|
|
(315,520
|
)
|
Gain (loss) on disposition of discontinued operations, net
|
Ps.
|
54,664,682
|
|
Ps.
|
(315,520
|
)
|
(1)
|
The results from discontinued operations of the Group for the three months ended March 31, 2022, were incurred only for the month
ended January 31, 2022.
|
(2)
|
The Group recognized expenses and income taxes in connection with the disposal of discontinued operations in the aggregate amount
of Ps.1,106,118 and Ps.843,002, respectively, for the year ended December 31, 2021.
|
21. |
Impact of COVID-19
|
22. |
Contingencies
|
23. |
Proforma Financial Information
|
(Millions of Mexican Pesos)
|
|
BaseFigures
(Unadited)
|
|
|
|
Proforma Adjustments (Unaudited)
|
|
|
Proforma Figures (Unaudited)
|
|
Net Sales
|
Ps.
|
18,022,290
|
|
|
Ps.
|
-
|
|
Ps.
|
18,022,290
|
|
Operating income
|
|
1,820,072
|
|
|
|
119,841
|
|
|
1,939,913
|
|
Finance expense
|
|
(3,797,132
|
)
|
|
|
2,615,657
|
|
|
(1,181,475
|
)
|
Finance income
|
|
181,119
|
|
|
|
-
|
|
|
181,119
|
|
Share in income of associates and joint ventures, net
|
|
51,826
|
|
|
|
901,140
|
|
|
952,966
|
|
(Loss) income before income taxes
|
|
(1,744,115
|
)
|
|
|
3,636,638
|
|
|
1,892,523
|
|
Income tax benefit (expense)
|
|
762,937
|
|
|
|
(214,021
|
)
|
|
548,916
|
|
Loss (income) from continuing operations
|
|
(981,178
|
)
|
|
|
3,422,617
|
|
|
2,441,439
|
|
Income from discontinued operations, net
|
|
655,423
|
|
|
|
50,384,498
|
|
|
51,039,921
|
|
Net loss (income)
|
Ps.
|
(325,755
|
)
|
|
Ps.
|
53,807,115
|
|
Ps.
|
53,481,360
|
|
(Millions of Mexican Pesos)
|
|
Base
Figures (Audited)
|
|
|
|
Proforma Adjustments (Unaudited)
|
|
|
Proforma Figures (Unaudited)
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
Ps.
|
28,873,335
|
|
|
Ps.
|
54,304,712
|
|
Ps.
|
83,178,047
|
|
Trade notes and accounts receivable, net
|
|
21,888,870
|
|
|
|
(13,772,691
|
)
|
|
8,116,179
|
|
Other accounts, taxes, and trade payables, net
|
|
13,484,857
|
|
|
|
(476,469
|
)
|
|
13,008,388
|
|
Due to related parties
|
|
899,785
|
|
|
|
6,436,903
|
|
|
7,336,688
|
|
Transmission rights and programming
|
|
7,551,908
|
|
|
|
(6,910,496
|
)
|
|
641,412
|
|
Other non-current assets
|
|
9,448,119
|
|
|
|
(1,169,395
|
)
|
|
8,278,724
|
|
Total non-current assets
|
|
82,146,874
|
|
|
|
38,412,564
|
|
|
120,559,438
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current assets:
|
|
|
|
|
|
|
|
|
|
|
Transmission rights and programming
|
|
10,466,154
|
|
|
|
(10,466,154
|
)
|
|
-
|
|
Investments in financial instruments
|
|
5,703,301
|
|
|
|
(630,187
|
)
|
|
5,073,114
|
|
Investment in associates and joint ventures
|
|
23,455,760
|
|
|
|
31,409,943
|
|
|
54,865,703
|
|
Property, plant, and equipment, net
|
|
84,100,646
|
|
|
|
(2,543,854
|
)
|
|
81,556,792
|
|
Right-of-use assets, net
|
|
6,912,451
|
|
|
|
(105,586
|
)
|
|
6,806,865
|
|
Intangible assets and goodwill, net
|
|
42,676,193
|
|
|
|
(911,529
|
)
|
|
41,764,664
|
|
Deferred income tax assets
|
|
30,192,897
|
|
|
|
(12,046,413
|
)
|
|
18,146,484
|
|
Other non-current assets
|
|
3,332,878
|
|
|
|
(7,696
|
)
|
|
3,325,182
|
|
Total non-current assets
|
|
206,840,280
|
|
|
|
4,698,524
|
|
|
211,538,804
|
|
Total assets
|
Ps.
|
288,987,154
|
|
|
Ps.
|
43,111,088
|
|
Ps.
|
332,098,242
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
Current portion of long-term debt
|
Ps.
|
616,991
|
|
|
Ps.
|
-
|
|
Ps.
|
616,991
|
|
Interest payable
|
|
1,906,444
|
|
|
|
-
|
|
|
1,906,444
|
|
Current portion of lease liabilities
|
|
1,255,069
|
|
|
|
(86,038
|
)
|
|
1,169,031
|
|
Derivative financial instruments
|
|
1,205,019
|
|
|
|
-
|
|
|
1,205,019
|
|
Accounts payable to suppliers and cumulative expenses
|
|
26,806,198
|
|
|
|
(7,605,113
|
)
|
|
19,201,085
|
|
Customer deposits and advances
|
|
17,604,098
|
|
|
|
(15,808,340
|
)
|
|
1,795,758
|
|
Taxes payable
|
|
6,377,423
|
|
|
|
8,040,657
|
|
|
14,418,080
|
|
Employee benefits
|
|
1,374,355
|
|
|
|
(268,562
|
)
|
|
1,105,793
|
|
Due to related parties
|
|
97,909
|
|
|
|
-
|
|
|
97,909
|
|
Other current liabilities
|
|
2,634,179
|
|
|
|
(770,190
|
)
|
|
1,863,989
|
|
Total current liabilities
|
|
59,877,685
|
|
|
|
(16,497,586
|
)
|
|
43,380,099
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current liabilities:
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
124,218,225
|
|
|
|
–
|
|
|
124,218,225
|
|
Lease liabilities
|
|
7,769,077
|
|
|
|
37,340
|
|
|
7,806,417
|
|
Derivative financial instruments
|
|
791,080
|
|
|
|
–
|
|
|
791,080
|
|
Advance from TelevisaUnivision
|
|
–
|
|
|
|
5,509,807
|
|
|
5,509,807
|
|
Taxes payable
|
|
123,945
|
|
|
|
–
|
|
|
123,945
|
|
Deferred income tax liabilities
|
|
1,817,346
|
|
|
|
(3,230
|
)
|
|
1,814,116
|
|
Post-employment benefits
|
|
2,120,683
|
|
|
|
(888,463
|
)
|
|
1,232,220
|
|
Other non-current liabilities
|
|
3,571,056
|
|
|
|
(2,493,861
|
)
|
|
1,077,195
|
|
Total non-current liabilities
|
|
140,411,412
|
|
|
|
2,161,593
|
|
|
142,573,005
|
|
Total liabilities
|
|
200,289,097
|
|
|
|
(14,335,993
|
)
|
|
185,953,104
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
88,698,057
|
|
|
|
57,447,081
|
|
|
146,145,138
|
|
Total liabilities and equity
|
Ps.
|
288,987,154
|
|
|
Ps.
|
43,111,088
|
|
Ps.
|
332,098,242
|
|
|
|
Gain on Proforma Discontinued Operations
|
|
|
Gain Net of
Income Taxes
|
|
Consolidated Condensed Proforma Statement of income for the three months ended March 31, 2021
|
Ps.
|
71,029,109
|
|
Ps.
|
51,039,921
|
|
See note 3 of the disclosure of the interim financial reporting.
|
Dividends paid, ordinary shares:
|
0
|
Dividends paid, other shares:
|
0
|
Dividends paid, ordinary shares per share:
|
0
|
Dividends paid, other shares per share:
|
0
|
Breakdown of credits:
The Notes due in 2027 were contracted at a fixed rate.
|
||
The "Senior Notes" due in 2025, 2026, 2032, 2037, 2040, 2043, 2045, 2046 and 2049
|
||
were contracted at a fixed rate.
|
||
The exchange rates for the credits denominated in foreign currency were as follows:
|
||
Ps. 19.8670 pesos per US dollar
|
||
Bank loans and senior notes are presented net of unamortized finance costs
|
||
in the aggregate amount of Ps. 1,131,862.
|
||
For more information on debt; see Note 9 Notes to the Unaudited Condensed Consolidated Financial Statements.
|
The exchange rates used for translation were as follows :
|
Ps. 19.8670 pesos per US dollar
|
22.0042 pesos per euro
|
21.5348 pesos per swiss franc
|
15.8996 pesos per canadian dollar
|
0.0053 pesos per colombian peso
|
ALFONSO DE ANGOITIA NORIEGA
|
BERNARDO GÓMEZ MARTÍNEZ
|
|
CO-CHIEF EXECUTIVE OFFICER
|
CO-CHIEF EXECUTIVE OFFICER
|
|
CARLOS PHILLIPS MARGAIN
|
LUIS ALEJANDRO BUSTOS OLIVARES
|
|
CORPORATE VICE PRESIDENT OF FINANCE
|
LEGAL VICE PRESIDENT AND
|
|
GENERAL COUNSEL
|
GRUPO TELEVISA, S.A.B.
|
||||
(Registrant)
|
||||
April 29, 2022
|
By
|
/s/ Luis Alejandro Bustos Olivares
|
||
Name: |
Luis Alejandro Bustos Olivares
|
|||
Title:
|
Legal Vice President and General Counsel
|
1 Year Grupo Televisa SA CV (PK) Chart |
1 Month Grupo Televisa SA CV (PK) Chart |
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