Televisa Q3 Results Show Revenue Decline

TL;DR

Televisa's Q3 revenue and income are down, watch out.

AI Summary

Grupo Televisa, S.A.B. reported its third quarter 2024 results, showing a 6.4% decline in consolidated revenue and a 4.7% decrease in Operating Segment Income (OSI), resulting in a 37.1% margin. The company also noted a decline in Operating Cash Flow during the quarter. Specific dollar amounts for these figures were not detailed in the provided excerpt.

Why It Matters

This filing indicates a downturn in Televisa's financial performance for the third quarter of 2024, which could impact investor confidence and future stock valuation.

Risk Assessment

Risk Level: medium — The filing reports declining revenue and operating income, suggesting potential financial headwinds for the company.

Key Numbers

• 6.4% — Revenue Decline (Consolidated revenue decreased by this percentage in Q3 2024.)
• 4.7% — OSI Decline (Operating Segment Income (OSI) decreased by this percentage in Q3 2024.)
• 37.1% — OSI Margin (The margin for Operating Segment Income in Q3 2024.)

Key Players & Entities

• GRUPO TELEVISA, S.A.B. (company) — Filer of the report
• 2024 (date) — Reporting period for financial results
• Third Quarter 2024 (date) — Specific period for reported results

FAQ

Key Financial Figures

• $128.1 million — of 2024, we invested approximately U.S.$128.1 million (Ps.2,426.6 million) in property, plant

Filing Documents

• tm2426821d1_6k.htm (6-K) — 230KB
• tm2426821d1_6kimg001.jpg (GRAPHIC) — 3KB
• 0001104659-24-111201.txt ( ) — 235KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of October, 2024 Commission File Number: 001-12610 GRUPO TELEVISA, S.A.B. (Translation of registrant’s name into English) Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico City, Mexico (Address of principal executive offices) (Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.) Form 20-F x Form 40-F Investor Relations PRESS RELEASE Televisa Reports Third Quarter 2024 Results Consolidated · Revenue and Operating Segment Income (“OSI”) declined by 6.4% and 4.7%, respectively, translating into a 37.1% margin. · During the third quarter of 2024, Operating Cash Flow (“OCF”) 1 , increased by 6.8%, for a 21.5% margin. · During the first nine months of 2024, OCF grew by 26.8%, representing a 24.1% margin. Cable · Passed 86 thousand additional homes with fiber-to-the-home (“FTTH”) during the quarter, reaching close to 19.9 million homes passed with our network. · Broadband subscribers of 5.7 million increased by 11.3 thousand as we keep focusing on value customers and working on churn reduction. · Revenue fell by 3.9% mainly due to the decline in our Enterprise Operations revenue. · OSI margin of 39.4% incorporates savings from the efficiency measures implemented at our Cable segment. Sky · Total RGUs of 5.3 million, with 270 thousand net-disconnections. · Revenue declined by 13.2% driven by an RGU base decrease of 15.0%. Earnings Call Date and Time: Friday, October 25, 2024, at 11:00 A.M. ET. Conference ID # is 9281169 From the U.S.: +1 (877) 883 0383 International callers: +1 (412) 902 6506 Rebroadcast: +1 (877) 344 7529 Rebroadcast: +1 (412) 317 0088 The teleconference will be rebroadcast starting at 12:00 P.M. ET with the access code #8286175 on October 25 th and will end at midnight on November 8 th . 1 OCF is defined as total OSI minus capital expenditures in property, plant and equipment. A reconciliation of total OSI to consolidated operating income, and the amount of capital expenditures in property, plant and equipment, are presented in the Notes of Segment Information, and Property, Plant and Equipment, respectively, to our Interim Unaudited Condensed Consolidated Financial Statements as of September 30, 2024 and December 31, 2023, and for the nine months ended September 30, 2024 and 2023. 1 Consolidated Results Mexico City, October 24, 2024 — Grupo Televisa, S.A.B. (NYSE:TV; BMV: TLEVISA CPO; “Televisa” or “the Company”), today announced that its Board of Directors (the “Board”) approved a proposal of Mr. Emilio Azcárraga Jean, Executive Chairman of the Board, to take an administrative leave, effective immediately, pending resolution of the investigation by the Department of Justice into certain FIFA-related activity, as previously announced on August 30, 2024. The Company is continuing to cooperate with the investigation. In addition, the Company announced results for the third quarter of 2024. The results have been prepared in accordance with International Financial Reporting Standards (“IFRS”). The financials statements have been adjusted to reflect the impact of the spin-off of the Company for the incorporation of Ollamani S.A.B., which took place on January 31, 2024. Results from the Other Businesses segment’s assets that were spun-off are presented as discontinued operations. The following table sets forth condensed consolidated 3Q’24 Margin 3Q’23 Margin Change % % % Revenues 15,362.8 100.0 16,416.0 100.0 (6.4) Operating segment income (1) 5,717.1 37.1 5,998.4 36.5 (4.7) (1) The operating segment income margin is calculated as a percentage of segment revenues. Revenues decreased by 6.4% to Ps.15,362.8 million in the third quarter of 2024, compared with Ps.16,416.0 million in the third quarter of 2023. This decline was driven mainly by the revenue decrease of 13.2% at Sky. Operating segment income fell by 4.7%, translating into a 37.1% margin. The following table sets forth condensed consolidated 3Q’24 Margin % 3Q’23 Margin % Change % Revenues 15,362.8 100.0 16,416.0 100.0 (6.4) Net income (loss) 670.5 4.4 (1,051.6) (6.4) n/a Net income (loss) attributable to stockholders of the Company 666.5 4.3 (918.5) (5.6) n/a Segment revenues 15,406.5 100.0 16,444.3 100.0 (6.3) Operating segment income (1) 5,717.1 37.1 5,998.4 36.5 (4.7) (1) The operating segment income margin is calculated as a percentage of segment revenues. Net income or loss attributable to stockholders of the Company changed by Ps.1,58

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View this 6-K filing on SEC EDGAR