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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% | 0.48 | 0.2581 | 20.55 | 0.00 | 21:14:59 |
Investor Relations
PRESS RELEASE
|
•
|
Revenue and Operating Segment Income (“OSI”) declined by 0.5% and 3.4%, respectively, translating into a 37.4% margin.
|
•
|
Successfully passed 287 thousand homes with fiber-to-the-home ("FTTH"), during the quarter, achieving more than 19 million homes passed
with our network.
|
•
|
Solid organic growth of approximately 315 thousand Revenue Generating Units (“RGUs”) during the quarter, reaching a total of
more than 16.2 million.
|
•
|
Revenue growth of 2.7% and OSI decline of 0.4%, representing a 40.9% margin.
|
•
|
MSO revenue and OSI grew 4.0% and 1.4%, respectively, translating into a 42.1% margin.
|
•
|
Total RGUs of approximately 6.7 million, with 215 thousand net-disconnections.
|
•
|
Revenue and OSI fell by 11.7% and 13.6%, respectively, representing a 34.5% margin.
|
•
|
Solid revenue and OSI growth of 11.4% and 7.3% respectively, for a 21.8% 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
|
1Q’23
|
Margin
|
1Q’22
|
Margin
|
Change
|
|
%
|
%
|
%
|
|||
Revenues
|
18,519.6
|
100.0
|
18,609.2
|
100.0
|
(0.5)
|
Operating segment income(1)
|
6,969.8
|
37.4
|
7,217.1
|
38.5
|
(3.4)
|
1Q’23
|
Margin
|
1Q’22
|
Margin
|
Change
|
|
%
|
%
|
%
|
|||
Revenues
|
18,519.6
|
100.0
|
18,609.2
|
100.0
|
(0.5)
|
Net (loss) income |
(710.1) |
(3.8) |
52,856.6 |
284.0 |
n/a |
Net (loss) income attributable to stockholders of the Company |
(788.9) | (4.3) | 52,642.1 | 282.9 | n/a |
Segment revenues |
18,630.6 | 100.0 | 18,741.3 | 100.0 | (0.6) |
Operating segment income(1)
|
6,969.8
|
37.4
|
7,217.1
|
38.5
|
(3.4)
|
(1)
|
The operating segment income margin is calculated as a percentage of segment revenues.
|
Revenues
|
1Q’23
|
%
|
1Q’22
|
%
|
Change
%
|
Cable
|
12,122.7
|
65.1
|
11,804.5
|
63.0
|
2.7
|
Sky
|
4,657.6
|
25.0
|
5,275.7
|
28.1
|
(11.7)
|
Other Businesses
|
1,850.3
|
9.9
|
1,661.1
|
8.9
|
11.4
|
Segment Revenues
|
18,630.6
|
100.0
|
18,741.3
|
100.0
|
(0.6)
|
Intersegment Operations (1)
|
(111.0)
|
(132.1)
|
|||
Revenues
|
18,519.6
|
|
18,609.2
|
|
(0.5)
|
Operating Segment Income (2)
|
1Q’23
|
Margin
%
|
1Q’22
|
Margin
%
|
Change
%
|
Cable
|
4,957.0
|
40.9
|
4,979.3
|
42.2
|
(0.4)
|
Sky
|
1,608.9
|
34.5
|
1,861.4
|
35.3
|
(13.6)
|
Other Businesses
|
403.9
|
21.8
|
376.4
|
22.7
|
7.3
|
Operating Segment Income
|
6,969.8
|
37.4
|
7,217.1
|
38.5
|
(3.4)
|
Corporate Expenses
|
(242.4)
|
(1.3)
|
(333.7)
|
(1.8)
|
27.4
|
Depreciation and Amortization
|
(5,311.7)
|
(28.7)
|
(5,077.4)
|
(27.3)
|
(4.6)
|
Other expense, net
|
(182.2)
|
(1.0)
|
(168.3)
|
(0.9)
|
(8.3)
|
Intersegment Operations(1)
|
(29.8)
|
(0.2)
|
(0.3)
|
(0.0)
|
n/a
|
Operating Income
|
1,203.7
|
6.5
|
1,637.4
|
8.8
|
(26.5)
|
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. |
RGUs
|
1Q’23 Net
Adds
|
1Q23
|
1Q22
|
Video
|
30,870
|
4,489,090
|
4,255,501
|
Broadband
|
84,711
|
6,068,862
|
5,732,026
|
Voice
|
174,836
|
5,408,560
|
4,764,592
|
Mobile
|
24,106
|
264,313
|
172,978
|
Total RGUs
|
314,523
|
16,230,825
|
14,925,097
|
MSO Operations (1)
Millions of Mexican pesos
|
1Q’23
|
1Q’22
|
Change %
|
Revenue
|
11,255.2
|
10,820.6
|
4.0
|
Operating Segment Income
|
4,741.7
|
4,674.5
|
1.4
|
Margin (%)
|
42.1
|
43.2
|
|
(1)These results do not include consolidation adjustments of Ps.599.0 million in revenue nor Ps.219.1 million
in Operating Segment Income for the first quarter of 2023, neither the consolidation adjustments of Ps.544.5 million in revenue nor Ps.188.5 million in Operating Segment Income for the first quarter of 2022. Consolidation adjustments are
considered in the consolidated results of the Cable segment.
|
RGUs
|
1Q’23 Net Adds
|
1Q'23
|
1Q'22
|
Video
|
(183,737)
|
6,073,322
|
7,244,246
|
Broadband
|
(32,172)
|
608,122
|
719,223
|
Voice
|
(26)
|
427
|
559
|
Mobile
|
779
|
16,381
|
26,920
|
Total RGUs
|
(215,156)
|
6,698,252
|
7,990,948
|
1Q'23
|
1Q'22
|
Favorable
(Unfavorable)
Change
|
|
Interest expense
|
(2,111.2)
|
(2,805.9)
|
694.7
|
Interest income
|
883.4
|
338.9
|
544.5
|
Foreign exchange loss, net
|
(664.2)
|
(2,307.4)
|
1,643.2
|
Other finance expense, net
|
(306.6)
|
(115.3)
|
(191.3)
|
Finance expense, net
|
(2,198.6)
|
(4,889.7)
|
2,691.1
|
(i)
|
a Ps.1,643.2 million decrease in foreign exchange loss, net, resulting primarily from a 7.4% appreciation of the Mexican peso against the U.S. dollar on a
lower average net U.S. dollar asset position in the first quarter of 2023, in comparison with a 3.1% appreciation of the Mexican peso against the U.S. dollar in the first quarter of 2022;
|
(ii)
|
a Ps.694.7 million decrease in interest expense, primarily in connection with a lower average principal amount of debt in the first
quarter of 2023, and the absence of finance expense related to prepayment of long-term debt in the first quarter of 2022; and
|
(iii)
|
a Ps.544.5 increase in interest income, explained primarily by a higher average amount of cash equivalents and a higher interest rate in
the first quarter of 2023.
|
Capital Expenditures
Millions of U.S. Dollars
|
1Q’23
|
1Q’22
|
Cable
|
167.1
|
168.3
|
Sky
|
42.9
|
55.1
|
Other Businesses
|
0.7
|
1.8
|
Continuing operations
|
210.7
|
225.2
|
Discontinued operations
|
-
|
3.4
|
Total
|
210.7
|
228.6
|
March 31, 2023
|
December 31, 2022
|
Decrease
|
|
Current portion of long-term debt
|
-
|
1,000.0
|
(1,000.0)
|
Long-term debt, net of current portion
|
98,911.5
|
104,240.7
|
(5,329.2)
|
Total debt (1)
|
98,911.5
|
105,240.7
|
(6,329.2)
|
Current portion of long-term lease liabilities
|
1,358.5
|
1,373.2
|
(14.7)
|
Long-term lease liabilities, net of current portion
|
6,693.7
|
6,995.8
|
(302.1)
|
Total lease liabilities
|
8,052.2
|
8,369.0
|
(316.8)
|
Total debt and lease liabilities
|
106,963.7
|
113,609.7
|
(6,646.0)
|
(1) As of March 31 of 2023 and December 31, 2022, total debt is presented net of finance
costs in the amount of Ps.972.7 million and Ps.994.7 million, respectively
|
March 31,
|
December 31,
|
||||||
2023
|
2022
|
||||||
ASSETS
|
(Unaudited)
|
(Audited)
|
|||||
Current assets:
|
|||||||
Cash and cash equivalents
|
Ps.
|
43,549.5
|
Ps.
|
51,131.0
|
|||
Trade notes and accounts receivable, net
|
9,336.9
|
8,457.3
|
|||||
Other accounts and notes receivable, net
|
672.1
|
315.0
|
|||||
Income taxes receivable
|
6,465.3
|
6,691.4
|
|||||
Other receivable taxes
|
6,980.9
|
6,593.7
|
|||||
Derivative financial instruments
|
-
|
11.2
|
|||||
Due from related parties
|
869.0
|
311.2
|
|||||
Transmission rights and programming
|
657.7
|
888.3
|
|||||
Inventories
|
1,475.0
|
1,448.3
|
|||||
Contract costs
|
1,906.7
|
1,918.3
|
|||||
Reimbursement receivable
|
-
|
1,431.5
|
|||||
Other current assets
|
2,426.5
|
2,379.6
|
|||||
Total current assets
|
74,339.6
|
81,576.8
|
|||||
Non-current assets:
|
|||||||
Trade notes and accounts receivable, net of current portion
|
533.5
|
438.4
|
|||||
Due from related party
|
6,534.8
|
6,365.0
|
|||||
Derivative financial instruments
|
536.6
|
532.3
|
|||||
Transmission rights and programming
|
1,242.7
|
1,022.8
|
|||||
Investments in financial instruments
|
3,031.0
|
3,389.5
|
|||||
Investments in associates and joint ventures
|
49,073.8
|
50,450.9
|
|||||
Property, plant and equipment, net
|
81,596.7
|
82,236.4
|
|||||
Investment property, net
|
2,852.6
|
2,873.2
|
|||||
Right-of-use assets, net
|
6,581.3
|
6,670.3
|
|||||
Intangible assets, net
|
40,746.1
|
41,123.6
|
|||||
Deferred income tax assets
|
19,233.8
|
18,770.0
|
|||||
Contract costs
|
3,223.5
|
3,399.9
|
|||||
Other assets
|
246.0
|
258.4
|
|||||
Total non-current assets
|
215,432.4
|
217,530.7
|
|||||
Total assets
|
Ps.
|
289,772.0
|
Ps.
|
299,107.5
|
|||
March 31,
|
December 31,
|
||||||||
2023
|
2022
|
||||||||
LIABILITIES
|
(Unaudited)
|
(Audited)
|
|||||||
Current liabilities:
|
|||||||||
Current portion of long-term debt
|
Ps.
|
-
|
Ps.
|
1,000.0
|
|||||
Interest payable
|
1,452.9
|
1,761.1
|
|||||||
Current portion of lease liabilities
|
1,358.5
|
1,373.2
|
|||||||
Derivative financial instruments
|
305.0
|
71.4
|
|||||||
Trade accounts payable and accrued expenses
|
17,554.8
|
16,083.9
|
|||||||
Customer deposits and advances
|
2,011.3
|
1,841.1
|
|||||||
Current portion of deferred revenue
|
287.7
|
287.7
|
|||||||
Income taxes payable
|
850.3
|
4,457.9
|
|||||||
Other taxes payable
|
2,770.3
|
2,661.2
|
|||||||
Employee benefits
|
1,290.1
|
1,384.8
|
|||||||
Due to related parties
|
119.5
|
88.3
|
|||||||
Provision for lawsuit settlement agreement
|
1,712.6
|
1,850.2
|
|||||||
Other current liabilities
|
1,522.5
|
1,510.0
|
|||||||
Total current liabilities
|
31,235.5
|
34,370.8
|
|||||||
Non-current liabilities:
|
|||||||||
Long-term debt, net of current portion
|
98,911.5
|
104,240.7
|
|||||||
Lease liabilities, net of current portion
|
6,693.7
|
6,995.8
|
|||||||
Deferred revenue, net of current portion
|
5,106.1
|
5,178.0
|
|||||||
Deferred income tax liabilities
|
1,145.4
|
1,249.5
|
|||||||
Post-employment benefits
|
795.1
|
771.5
|
|||||||
Other long-term liabilities
|
2,119.9
|
2,171.3
|
|||||||
Total non-current liabilities
|
114,771.7
|
120,606.8
|
|||||||
Total liabilities
|
146,007.2
|
154,977.6
|
|||||||
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
|
129,145.9
|
84,202.7
|
|||||||
Net income for the period
|
(788.9
|
)
|
44,712.2
|
||||||
130,496.0
|
131,053.9
|
||||||||
Accumulated other comprehensive loss, net
|
(9,866.9
|
)
|
(10,823.9
|
)
|
|||||
Shares repurchased
|
(13,472.2
|
)
|
(12,648.6
|
)
|
|||||
107,156.9
|
107,581.4
|
||||||||
Equity attributable to stockholders of the Company
|
127,883.4
|
128,307.9
|
|||||||
Non-controlling interests
|
15,881.4
|
15,822.0
|
|||||||
Total equity
|
143,764.8
|
144,129.9
|
|||||||
Total liabilities and equity
|
Ps.
|
289,772.0
|
Ps.
|
299,107.5
|
|||||
Three months ended March 31,
|
||||||||
2023
|
2022
|
|||||||
(Unaudited)
|
(Unaudited)
|
|||||||
Revenues
|
Ps.
|
18,519.6
|
Ps.
|
18,609.2
|
||||
Cost of revenues
|
12,082.0
|
11,826.9
|
||||||
Selling expenses
|
2,238.5
|
2,133.2
|
||||||
Administrative expenses
|
2,813.2
|
2,843.4
|
||||||
Income before other expense
|
1,385.9
|
1,805.7
|
||||||
Other expense, net
|
(182.2
|
)
|
(168.3
|
)
|
||||
Operating income
|
1,203.7
|
1,637.4
|
||||||
Finance expense
|
(3,082.0
|
)
|
(5,228.6
|
)
|
||||
Finance income
|
883.4
|
338.9
|
||||||
Finance expense, net
|
(2,198.6
|
)
|
(4,889.7
|
)
|
||||
Share of income of associates and joint ventures, net
|
96.8
|
465.4
|
||||||
Loss before income taxes
|
(898.1
|
)
|
(2,786.9
|
)
|
||||
Income tax benefit
|
188.0
|
878.1
|
||||||
Net loss from continuing operations
|
(710.1
|
)
|
(1,908.8
|
)
|
||||
Income from discontinued operations, net
|
-
|
54,765.4
|
||||||
Net (loss) income
|
Ps.
|
(710.1
|
)
|
Ps.
|
52,856.6
|
|||
Net (loss) income attributable to:
|
||||||||
Stockholders of the Company
|
Ps.
|
(788.9
|
)
|
Ps.
|
52,642.1
|
|||
Non-controlling interests
|
78.8
|
214.5
|
||||||
Net (loss) income
|
Ps.
|
(710.1
|
)
|
Ps.
|
52,856.6
|
|||
Basic (loss) earnings per CPO attributable to
stockholders of the Company:
|
||||||||
Continuing operations
|
Ps.
|
(0.28
|
)
|
Ps.
|
(0.72
|
)
|
||
Discontinued operations
|
-
|
19.40
|
||||||
Total
|
Ps.
|
(0.28
|
)
|
Ps.
|
18.68
|
|||
|
|
GRUPO TELEVISA, S.A.B.
|
|||||
|
|
(Registrant)
|
|||||
Dated: April 26, 2023
|
|
|
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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