GRUPO TELEVISA, S.A.B. Files 20-F for Fiscal Year Ended December 31, 2023

Ticker: GRPFF · Form: 20-F · Filed: Apr 30, 2024 · CIK: 912892

Grupo Televisa, S.A.B. 20-F Filing Summary
FieldDetail
CompanyGrupo Televisa, S.A.B. (GRPFF)
Form Type20-F
Filed DateApr 30, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: 20-F, Grupo Televisa, Annual Report, Financials, Mexico

TL;DR

<b>Grupo Televisa, S.A.B. has submitted its 20-F filing for the fiscal year 2023, detailing financial performance and corporate information.</b>

AI Summary

GRUPO TELEVISA, S.A.B. (GRPFF) filed a Foreign Annual Report (20-F) with the SEC on April 30, 2024. Grupo Televisa, S.A.B. filed its annual 20-F report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data and disclosures for the fiscal year 2023 are presented. The report includes information on various subsidiaries and debt instruments. Details on currency risk and hedging instruments are provided for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking GRUPO TELEVISA, S.A.B., this filing contains several important signals. This filing provides investors and analysts with the latest official financial statements and disclosures from Grupo Televisa, S.A.B., crucial for evaluating the company's performance and outlook. The 20-F report contains essential information regarding the company's business operations, financial condition, and risk factors, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — GRUPO TELEVISA, S.A.B. shows moderate risk based on this filing. The company's business is subject to various risks, including those related to its operations in Mexico and its significant debt obligations, as detailed in the filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 20-F filing to assess Grupo Televisa's financial health and future prospects.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-04-30 — Filing Date (Filed as of date)

Key Players & Entities

  • GRUPO TELEVISA, S.A.B. (company) — Filer of the 20-F report
  • 2023-12-31 (date) — Conformed period of report
  • 2024-04-30 (date) — Filed as of date
  • Mexico (location) — Business address city
  • 0000912892 (company) — Central Index Key

FAQ

When did GRUPO TELEVISA, S.A.B. file this 20-F?

GRUPO TELEVISA, S.A.B. filed this Foreign Annual Report (20-F) with the SEC on April 30, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by GRUPO TELEVISA, S.A.B. (GRPFF).

Where can I read the original 20-F filing from GRUPO TELEVISA, S.A.B.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by GRUPO TELEVISA, S.A.B..

What are the key takeaways from GRUPO TELEVISA, S.A.B.'s 20-F?

GRUPO TELEVISA, S.A.B. filed this 20-F on April 30, 2024. Key takeaways: Grupo Televisa, S.A.B. filed its annual 20-F report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. Key financial data and disclosures for the fiscal year 2023 are presented..

Is GRUPO TELEVISA, S.A.B. a risky investment based on this filing?

Based on this 20-F, GRUPO TELEVISA, S.A.B. presents a moderate-risk profile. The company's business is subject to various risks, including those related to its operations in Mexico and its significant debt obligations, as detailed in the filing.

What should investors do after reading GRUPO TELEVISA, S.A.B.'s 20-F?

Review the detailed financial statements and risk factors in the 20-F filing to assess Grupo Televisa's financial health and future prospects. The overall sentiment from this filing is neutral.

How does GRUPO TELEVISA, S.A.B. compare to its industry peers?

Grupo Televisa operates in the media and telecommunications sectors, primarily in Mexico, facing a dynamic and competitive landscape.

Are there regulatory concerns for GRUPO TELEVISA, S.A.B.?

The company's operations are subject to Mexican regulations governing broadcasting, telecommunications, and corporate governance.

Risk Factors

  • Debt Obligations [medium — financial]: The company has significant debt obligations, including senior notes and bank loans, with various maturity dates.
  • Competition [medium — market]: The company operates in competitive markets, including telecommunications and media, facing pressure from various players.
  • Regulatory Environment [medium — regulatory]: The company is subject to the regulatory framework in Mexico and other jurisdictions where it operates, which can impact its business.

Industry Context

Grupo Televisa operates in the media and telecommunications sectors, primarily in Mexico, facing a dynamic and competitive landscape.

Regulatory Implications

The company's operations are subject to Mexican regulations governing broadcasting, telecommunications, and corporate governance.

What Investors Should Do

  1. Analyze the company's debt structure and maturity profile.
  2. Evaluate the competitive landscape and market position within its key segments.
  3. Review any new regulatory developments impacting the company's operations in Mexico.

Key Dates

  • 2023-12-31: Fiscal Year End — The reporting period for the 20-F filing.
  • 2024-04-30: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual disclosure for the fiscal year 2023, following previous filings which would have contained data for prior periods.

Filing Stats: 4,440 words · 18 min read · ~15 pages · Grade level 11.1 · Accepted 2024-04-30 16:55:33

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents

Forward-Looking Statements and Risk Factors Summary

Forward-Looking Statements and Risk Factors Summary 2 Part I 4 Item 1. Identity of Directors, Senior Management and Advisers 4 Item 2. Offer Statistics and Expected Timetable 4 Item 3. Key Information 4

Selected Financial Data

Selected Financial Data 4 Dividends 7 Exchange Rate Information 7

Risk Factors

Risk Factors 7 Item 4. Information on the Company 29 History and Development of the Company 29 Capital Expenditures 30 Business Overview 30 Item 5. Operating and Financial Review and Prospects 63 TelevisaUnivision Transaction 63 Spin - off of Certain Businesses of Our Other Businesses Segment 64 Preparation of Financial Statements 64 Results of Operations 65 Item 6. Directors, Senior Management and Employees 90 Item 7. Major Stockholders and Related Party Transactions 105 The Major Stockholders 106 Related Party Transactions 106 Item 8. Financial Information 108 Item 9. The Offer and Listing 108 Trading on the Mexican Stock Exchange 108 Item 10. Additional Information 111 Mexican Securities Market Law 111 Bylaws 112 Taxation 124 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 130 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 136 Global Depositary Shares 136 Part II 137 Item 13. Defaults, Dividend Arrearages and Delinquencies 137 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 137 Item 15.

Controls and Procedures

Controls and Procedures 137 Evaluation of Disclosure Controls and Procedures 137 Management's Annual Report on Internal Control Over Financial Reporting 137 Changes in Internal Control Over Financial Reporting 137 Item 16. Audit Committee Financial Expert 138 Code of Ethics 138 Principal Accountant Fees and Services 138 Audit Committee Pre-approval Policies and Procedures 139 Exemptions from the Listing Standards for Audit Committees 139 Purchases of Equity Securities by the Issuer and Affiliated Purchasers 139 Purchases of Equity Securities by the Company 140 Purchases of Equity Securities by Special Purpose Trust Formed in Connection with Long - Term Retention Plan (1) 140 Change in Registrant's Certifying Accountant 141 Corporate Governance 141 Mine Safety Disclosure 142 Disclosure Regarding Foreign Jurisdictions that Prevent Inspections . 142 Cybersecurity 143 Part III 145 Item 17.

Financial Statements

Financial Statements 145 Item 18.

Financial Statements

Financial Statements 145 Item 19. Exhibits 146 1 Table of Contents We publish our financial statements in accordance with International Financial Reporting Standards, or IFRS Accounting Standards, as issued by the International Accounting Standards Board, or IASB, which differ in some significant respects from generally accepted accounting principles in the United States, or U.S. GAAP, and accounting procedures adopted in other countries. Unless otherwise indicated, (i) information included in this annual report is as of December 31, 2023 and (ii) references to "Ps." or "Pesos" in this annual report are to Mexican Pesos and references to "Dollars," "U.S. Dollars," "U.S. dollars," "

quot; or "U.S.
quot; are to United States dollars. In this annual report, "we," "us," "our," "Company," "Grupo Televisa" or "Televisa" refer to Grupo Televisa, S.A.B. and, where the context requires, its consolidated entities. "Group" refers to Grupo Televisa, S.A.B. and its consolidated entities.

Forward-Looking Statements and Risk Factors Summary

Forward-Looking Statements and Risk Factors Summary This annual report and the documents incorporated by reference into this annual report contain forward-looking statements. In addition, we may from time to time make forward-looking statements in reports to the SEC, on Form 6-K, in annual reports to stockholders, in prospectuses, press releases and other written materials and in oral statements made by our officers, directors or employees to analysts, institutional investors, representatives of the media and others. Words such as "believe", "anticipate", "plan", "expect", "intend", "seek", "potential", "target", "estimate", "project", "predict", "forecast", "guideline", "may", "should", "could", "will" and similar words and expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying these statements. Examples of these forward-looking statements include, but are not limited to: estimates and projections of financial results, cash flows, capital expenditures, dividends, capital structure, financial position or other financial items or ratios;

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information

Selected Financial Data

Selected Financial Data The following tables present our selected consolidated financial information as of and for each of the periods indicated. This information is qualified in its entirety by reference to, and should be read together with, our audited consolidated year-end financial statements. The following data for each of the years ended December 31, 2023, 2022 and 2021 has been derived from our audited consolidated year-end financial statements, including the consolidated statements of financial position as of December 31, 2023 and 2022, the related consolidated statements of income, comprehensive income, changes in stockholders' equity and cash flows for the years ended December 31, 2023, 2022 and 2021, and the accompanying notes appearing elsewhere in this annual report. The selected consolidated financial information as of December 31, 2023, 2022 and 2021, and for the years ended December 31, 2023, 2022 and 2021, was prepared in accordance with IFRS Accounting Standards, as issued by the IASB. The exchange rate used in translating Pesos into U.S. Dollars for calculating the convenience translations included in the following tables is determined by reference to the interbank free market exchange rate (the "Interbank Rate"), as reported by Banco Nacional de Mxico, S.A. , or CitiBanamex, as of December 31, 2023, which was Ps.16.9325 per U.S. Dollar. This annual report contains translations of certain Peso amounts into U.S. Dollars at specified rates solely for the convenience of the reader. The exchange rate translations contained in this annual report should not be construed as representations that the Peso amounts actually represent the U.S. Dollar amounts presented or that they could be converted into U.S. Dollars at the rate indicated. The interbank free market rate, or the Interbank Rate, as reported by Banco Nacional de Mexico, S.A. , or CitiBanamex, as of March 31, 2024, was Ps.16.5450 per U.S. Dollar. Year Ended December 31 2023 2023 2022

Risk Factors

Risk Factors The following is a discussion of risks associated with our company and an investment in our securities. Some of the risks of investing in our securitie

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