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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 | 0.60 | 0.00 | 18:24:02 |
![]() |
Investor Relations
PRESS RELEASE
|
•
|
Net Revenue grew by 0.3% and Operating Segment Income (“OSI”) declined by 4.9%.
|
•
|
Ended the quarter with almost 18.4 million homes passed with our network.
|
•
|
Growth of 325 thousand Revenue Generating Units (“RGUs”), reaching about 15.3 million.
|
•
|
Revenue and OSI for our MSO operations increased by 3.8% and 5.0%, respectively.
|
•
|
Total RGUs of around 7.7 million, with 255 thousand net-disconnections.
|
•
|
Revenue and OSI fell by 7.7% and 24.1%, respectively, translating into a 33.1% margin.
|
•
|
Strong growth at our Other Businesses segment driven by the economic reopening.
|
•
|
Solid revenue and OSI growth of 65.8% and 163.5% respectively, for a 22.5% margin.
|
From the U.S.: +1 (877) 883 0383
|
International callers: +1 (412) 902 6506
|
Rebroadcast: +1 (877) 344 7529
|
Rebroadcast: +1 (412) 317 0088
|
2Q’22
|
Margin
|
2Q’21
|
Margin
|
Change
|
|
%
|
%
|
%
|
|||
Net sales
|
18,533.5
|
100.0
|
18,473.9
|
100.0
|
0.3
|
Operating segment income1
|
7,045.7
|
37.8
|
7,411.4
|
39.8
|
(4.9)
|
|
2Q’22
|
Margin
|
2Q’21
|
Margin
|
Change
|
%
|
%
|
%
|
|||
Net sales
|
18,533.5
|
100.0
|
18,473.9
|
100.0
|
0.3
|
Net income
|
3,289.4
|
17.7
|
2,421.6
|
13.1
|
35.8
|
Net income attributable to stockholders of the Company
|
3,140.4
|
16.9
|
2,181.7
|
11.8
|
43.9
|
Segment net sales
|
18,632.8
|
100.0
|
18,602.8
|
100.0
|
0.2
|
Operating segment income (1)
|
7,045.7
|
37.8
|
7,411.4
|
39.8
|
(4.9)
|
(1)
|
The operating segment income margin is calculated as a percentage of segment net sales.
|
Net Sales
|
2Q’22
|
%
|
2Q’21
|
%
|
Change
%
|
Cable
|
11,750.0
|
63.1
|
11,981.6
|
64.4
|
(1.9)
|
Sky
|
5,140.1
|
27.6
|
5,570.1
|
29.9
|
(7.7)
|
Other Businesses
|
1,742.7
|
9.3
|
1,051.1
|
5.7
|
65.8
|
Segment Net Sales
|
18,632.8
|
100.0
|
18,602.8
|
100.0
|
0.2
|
Intersegment Operations1
|
(99.3)
|
(128.9)
|
|||
Net Sales
|
18,533.5
|
|
18,473.9
|
|
0.3
|
Operating Segment Income2
|
2Q’22
|
Margin
%
|
2Q’21
|
Margin
%
|
Change
%
|
Cable
|
4,951.8
|
42.1
|
5,020.1
|
41.9
|
(1.4)
|
Sky
|
1,702.3
|
33.1
|
2,242.7
|
40.3
|
(24.1)
|
Other Businesses
|
391.6
|
22.5
|
148.6
|
14.1
|
163.5
|
Operating Segment Income
|
7,045.7
|
37.8
|
7,411.4
|
39.8
|
(4.9)
|
Corporate Expenses
|
(285.2)
|
(1.5)
|
(381.0)
|
(2.0)
|
25.1
|
Depreciation and Amortization
|
(5,167.5)
|
(27.9)
|
(5,093.0)
|
(27.6)
|
(1.5)
|
Other expense, net
|
(40.9)
|
(0.2)
|
(278.3)
|
(1.5)
|
n/a
|
Intersegment Operations1
|
(0.4)
|
(0.0)
|
(0.4)
|
(0.0)
|
(0.0)
|
Operating Income
|
1,551.7
|
8.4
|
1,658.7
|
9.0
|
(6.5)
|
RGUs
|
2Q’22 Net
Adds
|
2Q’22
|
2Q’21
|
Video
|
79,147
|
4,334,648
|
4,214,596
|
Broadband
|
77,564
|
5,809,590
|
5,566,188
|
Voice
|
147,135
|
4,911,727
|
4,417,438
|
Mobile
|
21,376
|
194,354
|
120,777
|
Total RGUs
|
325,222
|
15,250,319
|
14,318,999
|
MSO Operations (1)
Millions of Mexican pesos
|
2Q’22
|
2Q’21
|
Change %
|
Revenue
|
10,965.6
|
10,564.7
|
3.8
|
Operating Segment Income
|
4,697.7
|
4,474.7
|
5.0
|
Margin (%)
|
42.8
|
42.4
|
|
RGUs
|
2Q’22 Net Adds
|
2Q’22
|
2Q’21
|
Video
|
(224,877)
|
7,019,369
|
7,489,876
|
Broadband
|
(26,456)
|
692,767
|
707,115
|
Voice
|
(28)
|
531
|
685
|
Mobile
|
(4,589)
|
22,331
|
14,532
|
Total RGUs
|
(255,950)
|
7,734,998
|
8,212,208
|
Other Income (Expense), Net
|
2Q’22
|
2Q’21
|
Cash
|
94.8
|
(390.5)
|
Non-cash
|
(135.7)
|
112.2
|
Total
|
(40.9)
|
(278.3)
|
2Q’22
|
2Q’21
|
Favorable
(Unfavorable)
change
|
|
Interest expense
|
(2,214.9)
|
(2,198.3)
|
(16.6)
|
Interest income
|
529.3
|
144.7
|
384.6
|
Foreign exchange gain, net
|
552.2
|
1,651.3
|
(1,099.1)
|
Other finance income (expense), net
|
64.5
|
(604.0)
|
668.5
|
Finance expense, net
|
(1,068.9)
|
(1,006.3)
|
(62.6)
|
(i)
|
a Ps.1,099.1 million decrease in foreign exchange gain, net, resulting primarily from a 1.5% depreciation of the Mexican peso against the U.S. dollar on an average net U.S. dollar
asset position in the second quarter of 2022, compared with a 2.9% appreciation of the Mexican peso against the U.S. dollar on an average net U.S. dollar liability position in the second quarter of 2021; and
|
(ii)
|
a Ps.16.6 million increase in interest expense, primarily due to the depreciation of the Mexican peso against the U.S. dollar in the second quarter of 2022,
compared with an appreciation of the Mexican peso in the second quarter of 2021, which effect was partially offset by a decrease in interest expense derived from a lower average of principal amount of debt in the second quarter of 2022.
|
Capital Expenditures
Millions of U.S. Dollars
|
2Q’22
|
2Q’21
|
Cable
|
183.9
|
206.0
|
Sky
|
54.9
|
54.9
|
Other Businesses
|
0.1
|
12.7
|
Continuing operations
|
238.9
|
273.6
|
Discontinued operations
|
-
|
6.5
|
Total
|
238.9
|
280.1
|
June 30, 2022
|
December 31,
2021
|
Increase
(Decrease)
|
|
Current portion of long-term debt
|
1,000.0
|
4,106.4
|
(3,106.4)
|
Long-term debt, net of current portion
|
112,720.2
|
121,685.7
|
(8,965.5)
|
Total debt (1)
|
113,720.2
|
125,792.1
|
(12,071.9)
|
Current portion of long-term lease liabilities
|
1,451.4
|
1,478.4
|
(27.0)
|
Long-term lease liabilities, net of current portion
|
7,135.4
|
8,202.2
|
(1,066.8)
|
Total lease liabilities
|
8,586.8
|
9,680.6
|
(1,093.8)
|
Total debt and lease liabilities
|
122,307.0
|
135,472.7
|
(13,165.7)
|
(1) As of June 30 of 2022 and December 2021, total debt is presented net of finance costs in the amount of Ps.1,107.7
million and Ps.1,207.1 million, respectively.
|
June 30,
|
December 31,
|
||||||
2022
|
2021
|
||||||
ASSETS
|
(Unaudited)
|
(Audited)
|
|||||
Current assets:
|
|||||||
Cash and cash equivalents
|
Ps.
|
59,892.2
|
Ps.
|
25,828.2
|
|||
Trade notes and accounts receivable, net
|
9,051.8
|
13,093.0
|
|||||
Other accounts and notes receivable, net
|
653.2
|
1,026.2
|
|||||
Income taxes receivable
|
6,996.0
|
7,262.0
|
|||||
Other recoverable taxes
|
6,475.6
|
9,418.0
|
|||||
Derivative financial instruments
|
115.4
|
0.1
|
|||||
Due from related parties
|
1,093.4
|
874.9
|
|||||
Transmission rights and programming
|
431.6
|
7,591.7
|
|||||
Inventories
|
2,211.7
|
2,212.9
|
|||||
Contract costs
|
1,762.2
|
1,782.7
|
|||||
Assets held for sale
|
4,396.9
|
-
|
|||||
Other current assets
|
2,939.8
|
4,169.3
|
|||||
Total current assets
|
96,019.8
|
73,259.0
|
|||||
Non-current assets:
|
|||||||
Trade notes and accounts receivable, net of current portion
|
385.1
|
385.1
|
|||||
Due from related parties
|
6,018.0
|
-
|
|||||
Derivative financial instruments
|
501.3
|
133.2
|
|||||
Transmission rights and programming
|
1,022.8
|
12,841.0
|
|||||
Investments in financial instruments
|
3,321.3
|
6,076.1
|
|||||
Investments in associates and joint ventures
|
63,724.7
|
26,704.2
|
|||||
Property, plant and equipment, net
|
85,914.0
|
87,922.1
|
|||||
Right-of-use assets, net
|
6,723.9
|
7,604.6
|
|||||
Intangible assets, net
|
41,236.7
|
42,255.9
|
|||||
Deferred income tax assets
|
15,690.7
|
33,173.1
|
|||||
Contract costs
|
3,448.3
|
3,215.6
|
|||||
Other assets
|
261.5
|
172.2
|
|||||
Total non-current assets
|
228,248.3
|
220,483.1
|
|||||
Total assets
|
Ps.
|
324,268.1
|
Ps.
|
293,742.1
|
|||
June 30,
|
December 31,
|
||||||||
2022
|
2021
|
||||||||
LIABILITIES
|
(Unaudited)
|
(Audited)
|
|||||||
Current liabilities:
|
|||||||||
Current portion of long-term debt
|
Ps.
|
1,000.0
|
Ps.
|
4,106.4
|
|||||
Interest payable
|
1,925.4
|
2,034.6
|
|||||||
Current portion of lease liabilities
|
1,451.4
|
1,478.4
|
|||||||
Derivative financial instruments
|
-
|
149.1
|
|||||||
Trade accounts payable and accrued expenses
|
18,050.9
|
22,874.3
|
|||||||
Customer deposits and advances
|
1,955.8
|
8,998.5
|
|||||||
Advances from TelevisaUnivision
|
2,080.6
|
-
|
|||||||
Income taxes payable
|
4,228.4
|
7,680.8
|
|||||||
Other taxes payable
|
2,402.9
|
4,417.0
|
|||||||
Employee benefits
|
1,151.2
|
2,332.3
|
|||||||
Due to related parties
|
104.1
|
82.1
|
|||||||
Liabilities related to assets held for sale
|
2,975.6
|
-
|
|||||||
Other current liabilities
|
1,616.8
|
2,516.0
|
|||||||
Total current liabilities
|
38,943.1
|
56,669.5
|
|||||||
Non-current liabilities:
|
|||||||||
Long-term debt, net of current portion
|
112,720.2
|
121,685.7
|
|||||||
Lease liabilities, net of current portion
|
7,135.4
|
8,202.2
|
|||||||
Derivative financial instruments
|
-
|
23.8
|
|||||||
Advance from TelevisaUnivision
|
5,321.8
|
-
|
|||||||
Income taxes payable
|
-
|
104.8
|
|||||||
Deferred income tax liabilities
|
3,225.2
|
2,210.7
|
|||||||
Post-employment benefits
|
798.6
|
1,913.7
|
|||||||
Other long-term liabilities
|
1,793.5
|
6,407.7
|
|||||||
Total non-current liabilities
|
130,994.7
|
140,548.6
|
|||||||
Total liabilities
|
169,937.8
|
197,218.1
|
|||||||
EQUITY
|
|||||||||
Capital stock
|
4,836.7
|
4,836.7
|
|||||||
Additional paid-in capital
|
15,889.8
|
15,889.8
|
|||||||
20,726.5
|
20,726.5
|
||||||||
Retained earnings:
|
|||||||||
Legal reserve
|
2,139.0
|
2,139.0
|
|||||||
Unappropriated earnings
|
84,118.9
|
80,023.4
|
|||||||
Net income for the period
|
55,782.5
|
6,055.8
|
|||||||
142,040.4
|
88,218.2
|
||||||||
Accumulated other comprehensive loss, net
|
(11,518.1
|
)
|
(13,622.0
|
)
|
|||||
Shares repurchased
|
(12,401.2
|
)
|
(14,205.1
|
)
|
|||||
118,121.1
|
60,391.1
|
||||||||
Equity attributable to stockholders of the Company
|
138,847.6
|
81,117.6
|
|||||||
Non-controlling interests
|
15,482.7
|
15,406.4
|
|||||||
Total equity
|
154,330.3
|
96,524.0
|
|||||||
Total liabilities and equity
|
Ps.
|
324,268.1
|
Ps.
|
293,742.1
|
|||||
Three months ended June 30,
|
Six months ended June 30,
|
||||||||||||||
2022
|
2021
|
2022
|
2021
|
||||||||||||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
||||||||||||
Continuing operations:
|
|||||||||||||||
Net sales
|
Ps.
|
18,533.5
|
Ps.
|
18,473.9
|
Ps.
|
37,142.7
|
Ps.
|
36,496.2
|
|||||||
Cost of sales
|
11,848.2
|
11,899.8
|
23,675.0
|
23,283.0
|
|||||||||||
Selling expenses
|
2,097.8
|
1,970.6
|
4,231.0
|
3,947.7
|
|||||||||||
Administrative expenses
|
2,994.9
|
2,666.5
|
5,838.4
|
5,430.8
|
|||||||||||
Income before other expense
|
1,592.6
|
1,937.0
|
3,398.3
|
3,834.7
|
|||||||||||
Other expense, net
|
(40.9
|
)
|
(278.3
|
)
|
(209.3
|
)
|
(355.9
|
)
|
|||||||
Operating income
|
1,551.7
|
1,658.7
|
3,189.0
|
3,478.8
|
|||||||||||
Finance expense
|
(2,214.9
|
)
|
(2,802.3
|
)
|
(6,826.7
|
)
|
(5,224.8
|
)
|
|||||||
Finance income
|
1,146.0
|
1,796.0
|
868.2
|
602.5
|
|||||||||||
Finance expense, net
|
(1,068.9
|
)
|
(1,006.3
|
)
|
(5,958.5
|
)
|
(4,622.3
|
)
|
|||||||
Share of income of associates and joint
ventures, net
|
4,218.6
|
888.4
|
4,684.0
|
940.2
|
|||||||||||
Income (loss) before income taxes
|
4,701.4
|
1,540.8
|
1,914.5
|
(203.3
|
)
|
||||||||||
Income tax (expense) benefit
|
(1,510.9
|
)
|
(419.6
|
)
|
(632.8
|
)
|
343.3
|
||||||||
Net income from continuing operations
|
3,190.5
|
1,121.2
|
1,281.7
|
140.0
|
|||||||||||
Discontinued operations:
|
|||||||||||||||
Income from discontinued operations, net
|
98.9
|
1,300.4
|
54,864.3
|
1,955.8
|
|||||||||||
Net income
|
Ps.
|
3,289.4
|
Ps.
|
2,421.6
|
Ps.
|
56,146.0
|
Ps.
|
2,095.8
|
|||||||
Net income attributable to:
|
|||||||||||||||
Stockholders of the Company
|
Ps.
|
3,140.4
|
Ps.
|
2,181.7
|
Ps.
|
55,782.5
|
Ps.
|
1,597.3
|
|||||||
Non-controlling interests
|
149.0
|
239.9
|
363.5
|
498.5
|
|||||||||||
Net income
|
Ps.
|
3,289.4
|
Ps.
|
2,421.6
|
Ps.
|
56,146.0
|
Ps.
|
2,095.8
|
|||||||
Basic earnings (loss) per CPO attributable to
stockholders of the Company:
|
|||||||||||||||
Continuing operations
|
Ps.
|
1.04
|
Ps.
|
0.32
|
Ps.
|
0.33
|
Ps.
|
(0.12
|
)
|
||||||
Discontinued operations
|
0.07
|
0.46
|
19.38
|
0.69
|
|||||||||||
Total
|
Ps.
|
1.11
|
Ps.
|
0.78
|
Ps.
|
19.71
|
Ps.
|
0.57
|
(1) |
The Group’s comparative consolidated statements of income for the six months ended June 30, 2022 and 2021, have been prepared to reflect the discontinued operations following the
transaction concluded by the Group with TelevisaUnivision on January 31, 2022. Accordingly, the results from consolidated statement of income for the six months ended June 30, 2021, has been modified from that previously reported by the
Company, to present the results from discontinued operations for the businesses disposed of by the Group on January 31, 2022.
|
GRUPO TELEVISA, S.A.B.
(Registrant)
|
|||
Dated: July 27, 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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