Grupo Televisa, S.A.B. (TV) Bundle
A Brief History of Grupo Televisa, S.A.B.
Grupo Televisa, S.A.B., a leading media company in the Spanish-speaking world, has undergone significant transformations through 2024. The company operates in various segments including cable, satellite TV, and broadcasting, providing a diverse range of services.
Financial Performance Overview
As of September 30, 2024, Grupo Televisa reported consolidated revenues of Ps. 47,034.5 million, a slight decrease from Ps. 47,161.9 million in the same period of 2023. The operating income for the nine months ended was Ps. 3,380.1 million, down from Ps. 3,614.9 million in the previous year.
| Financial Metric | 2024 (9M) | 2023 (9M) |
|---|---|---|
| Consolidated Revenues | Ps. 47,034.5 million | Ps. 47,161.9 million |
| Operating Income | Ps. 3,380.1 million | Ps. 3,614.9 million |
| Net Income | Ps. 666.5 million | Ps. (918.5 million) |
| Basic Earnings per Share (CPO) | Ps. 0.59 | Ps. (0.56) |
| Diluted Earnings per Share (CPO) | Ps. 0.55 | Ps. (0.56) |
Debt and Liquidity Position
As of September 30, 2024, Grupo Televisa had total debt amounting to Ps. 98,540.1 million, compared to Ps. 88,535.9 million at the end of 2023. The company’s consolidated net debt position, after accounting for cash and cash equivalents, stood at Ps. 60,028.9 million.
| Debt Metric | 2024 | 2023 |
|---|---|---|
| Total Debt | Ps. 98,540.1 million | Ps. 88,535.9 million |
| Consolidated Net Debt | Ps. 60,028.9 million | Ps. 52,984.5 million |
| Total Lease Liabilities | Ps. 5,336.6 million | Ps. 7,291.5 million |
Shareholder Returns and Dividends
In April 2024, the company’s shareholders approved a dividend of Ps. 0.35 per CPO, resulting in total dividend payments of Ps. 1,018.9 million. This reflects the company's commitment to returning value to shareholders amidst fluctuating profits.
Recent Strategic Developments
In June 2024, Grupo Televisa completed an acquisition that allowed it to gain full ownership of its Sky segment, previously held by AT&T. This move is expected to strengthen its market position in the telecommunications sector.
Market Position and Future Outlook
Grupo Televisa remains a dominant player in the media industry, leveraging its extensive portfolio and strategic acquisitions to drive growth. The company is focused on enhancing its digital presence and expanding its content offerings to adapt to evolving consumer preferences.
As of the end of September 2024, the company’s shares outstanding amounted to 313,238.6 million, a reduction from 323,976.5 million in December 2023, reflecting ongoing share repurchase activities.
| Shares Outstanding | 2024 | 2023 |
|---|---|---|
| Total Shares Outstanding | 313,238.6 million | 323,976.5 million |
A Who Owns Grupo Televisa, S.A.B. (TV)
Ownership Structure
As of 2024, Grupo Televisa, S.A.B. (TV) has a complex ownership structure. The majority of the shares are held by the following key stakeholders:
| Shareholder | Ownership Percentage | Type of Shares |
|---|---|---|
| Grupo Televisa, S.A.B. | 43.3% | Common Shares |
| Other Institutional Investors | 30.5% | Common Shares |
| Retail Investors | 26.2% | Common Shares |
Major Shareholders
The major shareholders of Grupo Televisa include:
- Emilio Azcárraga Jean - Key figure in the company, holds significant voting rights.
- TelevisaUnivision - A major subsidiary that influences strategic decisions.
- Institutional investors - Including mutual funds and pension funds that collectively hold a significant portion of the shares.
Recent Ownership Changes
In April 2024, Grupo Televisa acquired the remaining 41.3% interest in its Sky segment previously held by AT&T, thereby obtaining full ownership of Sky.
Financial Performance Indicators
Grupo Televisa reported the following financial metrics for Q3 2024:
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Revenues | Ps. 15,362.8 million | Ps. 16,416.0 million | (6.4) |
| Net Income | Ps. 670.5 million | (Ps. 1,051.6 million) | n/a |
| Operating Segment Income | Ps. 5,717.1 million | Ps. 5,998.4 million | (4.7) |
| Net Income Attributable to Stockholders | Ps. 666.5 million | (Ps. 918.5 million) | n/a |
Debt and Lease Liabilities
As of September 30, 2024, Grupo Televisa reported total debt and lease liabilities as follows:
| Type | Amount (Ps.) |
|---|---|
| Total Debt | Ps. 98,540.1 million |
| Total Lease Liabilities | Ps. 5,336.6 million |
| Total Debt and Lease Liabilities | Ps. 103,876.7 million |
Investments in Associates
As of September 30, 2024, Grupo Televisa's investments in associates included:
| Associate | Ownership Percentage | Value (Ps.) |
|---|---|---|
| TelevisaUnivision | 43.3% | Ps. 44,570.5 million |
| Other Associates | - | Ps. 46.4 million |
Market Capitalization
The market capitalization of Grupo Televisa as of late 2024 is estimated at approximately Ps. 150 billion.
Dividend Payments
In April 2024, Grupo Televisa declared a dividend of Ps. 0.35 per CPO, totaling Ps. 1,018,954 million paid out to shareholders.
Grupo Televisa, S.A.B. (TV) Mission Statement
Overview of Mission Statement
The mission of Grupo Televisa, S.A.B. is to connect people to what matters most to them through high-quality content and innovative platforms. The company is committed to enriching the lives of its audiences by providing diverse entertainment options while fostering a strong sense of community.
Financial Performance Metrics
As of the third quarter of 2024, Grupo Televisa reported a revenue of Ps.15,362.8 million, which reflects a 6.4% decrease compared to Ps.16,416.0 million in the same quarter of 2023. The net income for the same period was Ps.670.5 million, a significant turnaround from a net loss of Ps.1,051.6 million in the prior year.
| Financial Metric | Q3 2024 (Ps. in millions) | Q3 2023 (Ps. in millions) | Change (%) |
|---|---|---|---|
| Revenues | 15,362.8 | 16,416.0 | (6.4) |
| Net Income (Loss) | 670.5 | (1,051.6) | n/a |
| Operating Segment Income | 5,717.1 | 5,998.4 | (4.7) |
| Operating Margin (%) | 37.1 | 36.5 | 1.6 |
Operational Segments
Grupo Televisa operates in various segments including Cable and Sky. The Cable segment generated revenues of Ps.11,675.4 million in Q3 2024, a decrease of 3.9% from Ps.12,147.8 million in Q3 2023. In contrast, the Sky segment saw a more pronounced decline, with revenues dropping by 13.2% to Ps.3,731.1 million from Ps.4,296.5 million in the previous year.
| Segment | Q3 2024 Revenues (Ps. in millions) | Q3 2023 Revenues (Ps. in millions) | Change (%) |
|---|---|---|---|
| Cable | 11,675.4 | 12,147.8 | (3.9) |
| Sky | 3,731.1 | 4,296.5 | (13.2) |
Capital Expenditures
In the third quarter of 2024, Grupo Televisa invested approximately U.S.$128.1 million (Ps.2,426.6 million) in capital expenditures, with the following breakdown:
| Segment | Q3 2024 (U.S.$ in millions) | Q3 2024 (Ps. in millions) | Q3 2023 (U.S.$ in millions) | Q3 2023 (Ps. in millions) |
|---|---|---|---|---|
| Cable | 115.3 | 2,182.5 | 141.0 | 2,407.2 |
| Sky | 11.4 | 216.7 | 28.4 | 484.3 |
| Corporate Assets | 1.4 | 27.4 | 2.1 | 36.4 |
| Total | 128.1 | 2,426.6 | 171.5 | 2,927.9 |
Debt and Lease Liabilities
As of September 30, 2024, Grupo Televisa reported total debt and lease liabilities of Ps.103,876.7 million, compared to Ps.95,827.4 million on December 31, 2023. The breakdown is as follows:
| Type | Q3 2024 (Ps. in millions) | Q4 2023 (Ps. in millions) | Change (Ps. in millions) |
|---|---|---|---|
| Total Debt | 98,540.1 | 88,535.9 | 10,004.2 |
| Total Lease Liabilities | 5,336.6 | 7,291.5 | (1,954.9) |
| Total Debt and Lease Liabilities | 103,876.7 | 95,827.4 | 8,049.3 |
Share Performance
As of September 30, 2024, Grupo Televisa had 313,238.6 million shares outstanding, down from 323,976.5 million shares at the end of 2023. The CPO equivalents outstanding were 2,677.3 million compared to 2,769.0 million previously.
Sustainability and ESG Initiatives
Grupo Televisa has made strides in its sustainability efforts, maintaining a "BBB" rating in MSCI and improving its S&P Global ESG Score by 7 points. The company has been included in the FTSE4Good Indexes for nine consecutive years, demonstrating its commitment to environmental, social, and governance practices.
| ESG Metrics | 2024 Rating | 2023 Rating |
|---|---|---|
| MSCI Rating | BBB | BBB |
| S&P Global ESG Score Improvement | +7 Points | N/A |
| FTSE4Good Index Inclusion | 9th Consecutive Year | 8th Consecutive Year |
How Grupo Televisa, S.A.B. (TV) Works
Overview of Operations
Grupo Televisa, S.A.B. operates as a leading telecommunications and media company in Mexico. It provides cable television, satellite television through its Sky brand, and various media production and distribution services.
Financial Performance
In the third quarter of 2024, Grupo Televisa reported revenues of Ps.15,362.8 million, reflecting a 6.4% decline from Ps.16,416.0 million in the same quarter of 2023. The net income for the quarter was Ps.670.5 million, compared to a net loss of Ps.1,051.6 million in the third quarter of 2023.
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Revenues | Ps.15,362.8 million | Ps.16,416.0 million | (6.4) |
| Net Income | Ps.670.5 million | Ps.(1,051.6) million | n/a |
| Operating Segment Income | Ps.5,717.1 million | Ps.5,998.4 million | (4.7) |
| Operating Margin | 37.1% | 36.5% | n/a |
Segment Performance
Grupo Televisa's operations are divided into several segments, including Cable and Sky. For Q3 2024, the Cable segment generated revenues of Ps.11,675.4 million, while Sky brought in Ps.3,731.1 million. The revenue for Sky decreased by 13.2% year-over-year.
| Segment | Q3 2024 Revenues (Ps. million) | Q3 2023 Revenues (Ps. million) | Change (%) |
|---|---|---|---|
| Cable | 11,675.4 | 12,147.8 | (3.9) |
| Sky | 3,731.1 | 4,296.5 | (13.2) |
Capital Expenditures
In Q3 2024, Grupo Televisa invested approximately U.S.$128.1 million (Ps.2,426.6 million) in capital expenditures. The breakdown by segment is as follows:
| Segment | Q3 2024 CapEx (U.S. $ million) | Q3 2024 CapEx (Ps. million) | Q3 2023 CapEx (U.S. $ million) | Q3 2023 CapEx (Ps. million) |
|---|---|---|---|---|
| Cable | 115.3 | 2,182.5 | 141.0 | 2,407.2 |
| Sky | 11.4 | 216.7 | 28.4 | 484.3 |
| Corporate Assets | 1.4 | 27.4 | 2.1 | 36.4 |
Debt and Financial Obligations
As of September 30, 2024, Grupo Televisa reported total consolidated debt and lease liabilities of Ps.103,876.7 million. The breakdown is as follows:
| Category | Amount (Ps. million) |
|---|---|
| Current Portion of Long-term Debt | 4,285.7 |
| Long-term Debt, Net of Current Portion | 94,254.4 |
| Total Lease Liabilities | 5,336.6 |
Investments in Associates and Joint Ventures
As of September 30, 2024, Grupo Televisa had significant investments in associates and joint ventures, particularly in TelevisaUnivision, where it holds a 43.3% ownership. The value of this investment was Ps.44,570.5 million as of the reporting date.
| Investment | Ownership (%) | Value (Ps. million) |
|---|---|---|
| TelevisaUnivision | 43.3 | 44,570.5 |
| GTAC | 33.3 | 957.5 |
| PDS | 50.0 | 196.6 |
How Grupo Televisa, S.A.B. (TV) Makes Money
Revenue Sources
Grupo Televisa, S.A.B. generates revenue through various segments, primarily focusing on telecommunications and media operations. The following table illustrates the revenue distribution for the third quarter of 2024:
| Revenue Source | 3Q 2024 (Million Pesos) | 3Q 2023 (Million Pesos) | Change (%) |
|---|---|---|---|
| Cable Services | 11,675.4 | 12,147.8 | (3.9) |
| Sky (DTH Services) | 3,731.1 | 4,296.5 | (13.2) |
| Advertising | 1,389.8 | 1,505.3 | (7.7) |
| Other Services | 1,020.9 | 1,318.2 | (22.6) |
| Total Revenue | 15,362.8 | 16,416.0 | (6.4) |
Cable and Sky Operations
The Cable segment provides integrated services, including video, high-speed internet, and voice to residential and commercial customers. The Sky segment offers direct-to-home satellite pay television. In the third quarter of 2024, the operating segment income for these segments was:
| Segment | Operating Income (Million Pesos) | Margin (%) |
|---|---|---|
| Cable | 13,942.9 | 39.4 |
| Sky | 3,607.7 | 30.8 |
Advertising Revenue
Advertising is a crucial revenue stream for Grupo Televisa. In the first nine months of 2024, advertising revenue was:
| Advertising Revenue (Million Pesos) | 2024 | 2023 |
|---|---|---|
| Televisa | 1,389.8 | 1,505.3 |
Share of Income from Associates
Grupo Televisa also earns income from its investment in TelevisaUnivision. The share of income from associates has shown significant growth, with the following figures:
| Period | Share of Income (Million Pesos) |
|---|---|
| 3Q 2024 | 1,736.1 |
| 3Q 2023 | 588.8 |
Financial Position and Capital Expenditures
As of September 30, 2024, Grupo Televisa's total debt and lease liabilities stood at:
| Debt Type | Total (Million Pesos) |
|---|---|
| Current Portion of Long-term Debt | 4,285.7 |
| Long-term Debt | 94,254.4 |
| Total Debt | 98,540.1 |
In the third quarter of 2024, Grupo Televisa invested:
| Segment | Capital Expenditures (Million Pesos) |
|---|---|
| Cable | 2,182.5 |
| Sky | 216.7 |
| Total | 2,426.6 |
Net Income Performance
For the third quarter of 2024, Grupo Televisa reported a net income of:
| Net Income (Million Pesos) | 3Q 2024 | 3Q 2023 |
|---|---|---|
| Net Income | 670.5 | (1,051.6) |
The recovery in net income reflects improved operational efficiency and reduced expenses, particularly in corporate expenses and other expenses.
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Article updated on 8 Nov 2024
Resources:
- Grupo Televisa, S.A.B. (TV) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Grupo Televisa, S.A.B. (TV)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Grupo Televisa, S.A.B. (TV)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.