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 April, 2009
GRUPO TELEVISA,
S.A.B.
(Translation
of registrant’s name into English)
|
Av.
Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico,
D.F.
|
|
(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
|
(Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.)
|
Yes
|
|
No
|
x
|
(If “Yes”
is marked indicate below the file number assigned to the registrant in
connection with Rule 12g-3-2(b): 82.)
First-Quarter 2009 Results
FOR IMMEDIATE RELEASE
Highlights
|
Ø
|
Record Net Sales and Operating
Segment Income for a first
quarter
|
|
Ø
|
Consolidated Net Sales
increased 19.1%, and Operating Segment Income increased
17.7%
|
|
Ø
|
Television Broadcasting Net
Sales increased 4.1%, and its Operating Segment Income margin was
39.2%
|
|
Ø
|
Sky and Cable and Telecom Net
Sales grew 10.8% and 110.3%,
respectively
|
|
Ø
|
Weekday prime-time audience
share reached 73.8%, compared with 72.8% in the same quarter the prior
year
|
Consolidated
Results
Mexico
City, D.F., April 30, 2009—Grupo Televisa, S.A.B. (NYSE:TV; BMV: TLEVISA CPO;
“Televisa” or “the Company”), today announced results for first quarter 2009.
The results have been prepared in accordance with Mexican Financial Reporting
Standards (Mexican FRS1).
The
following table sets forth a condensed consolidated statement of income for the
three months ended March 31, 2009 and 2008, in millions of Mexican pesos, as
well as the percentage of net sales that each line represents and the percentage
change when comparing 2009 with 2008:
|
1Q
2009
|
Margin
%
|
1Q
2008
|
Margin
%
|
Change
%
|
|
|
Consolidated
net sales
|
11,362.4
|
100.0
|
9,538.1
|
100.0
|
19.1
|
|
Consolidated
operating income
|
2,729.5
|
24.0
|
2,384.5
|
25.0
|
14.5
|
|
Consolidated
net income
|
1,102.1
|
9.7
|
1,170.1
|
12.3
|
(5.8)
|
|
Controlling
interest net income
|
978.0
|
8.6
|
1,053.5
|
11.0
|
(7.2)
|
Consolidated
net sales increased 19.1% to Ps.11,362.4 million in first quarter 2009 compared
with Ps.9,538.1 million in first quarter 2008. This increase was attributable to
revenue growth in our Cable and Telecom, Sky, Television Broadcasting, Pay
Television Networks, Programming Exports, and Publishing segments.
Consolidated
operating income increased 14.5% to Ps.2,729.5 million in first quarter 2009
compared with Ps.2,384.5 million in first quarter 2008. This increase was
attributable to higher sales that were partially offset by higher cost of sales,
operating expenses, and depreciation and amortization.
Controlling
interest net income decreased 7.2% to Ps.978 million in first quarter 2009
compared with Ps.1,053.5 million in first quarter 2008. The net decrease of
Ps.75.5 million reflected primarily i) a Ps.67.8 million increase in other
expense, net; ii) a Ps.183.6 million increase in integral cost of financing;
iii) a Ps.127.6 million increase in equity in losses of affiliates, net; iv) a
Ps.34 million increase in income taxes; and v) a Ps.7.5 million increase in
non-controlling interest net income. These unfavorable variances were partially
offset by a Ps.345 million increase in operating income.
1
Beginning January 1, 2008, in accordance with the guidelines provided by
Mexican FRS, we no longer recognize the effects of inflation in our financial
reporting.
First-Quarter
Results by Business Segment
The
following table presents first-quarter results ended March 31, 2009 and 2008,
for each of our business segments. Amounts are presented in millions of Mexican
pesos.
|
Net
Sales
|
1Q
2009
|
%
|
1Q
2008
|
%
|
Inc.
%
|
|
Television
Broadcasting
|
4,041.7
|
34.8
|
3,882.5
|
39.7
|
4.1
|
|
Pay
Television Networks
|
608.4
|
5.2
|
463.6
|
4.7
|
31.2
|
|
Programming
Exports
|
686.3
|
5.9
|
578.3
|
5.9
|
18.7
|
|
Publishing
|
766.7
|
6.6
|
727.3
|
7.4
|
5.4
|
|
Sky
|
2,416.8
|
20.8
|
2,180.6
|
22.3
|
10.8
|
|
Cable
and Telecom
|
2,214.0
|
19.1
|
1,052.8
|
10.8
|
110.3
|
|
Other
Businesses1
|
884.1
|
7.6
|
901.2
|
9.2
|
(1.9)
|
|
Segment
Net Sales
|
11,618.0
|
100.0
|
9,786.3
|
100.0
|
18.7
|
|
Intersegment
Operations2
|
(255.6)
|
(248.2)
|
(3.0)
|
||
|
Consolidated
Net Sales
|
11,362.4
|
9,538.1
|
19.1
|
|
Operating
Segment Income (Loss)3
|
1Q
2009
|
Margin
%
|
1Q
2008
|
Margin
%
|
Inc.
%
|
|
Television
Broadcasting
|
1,584.3
|
39.2
|
1,514.2
|
39.0
|
4.6
|
|
Pay
Television Networks
|
396.8
|
65.2
|
283.3
|
61.1
|
40.1
|
|
Programming
Exports
|
340.5
|
49.6
|
245.3
|
42.4
|
38.8
|
|
Publishing
|
22.5
|
2.9
|
49.1
|
6.8
|
(54.2)
|
|
Sky
|
1,110.8
|
46.0
|
1,080.2
|
49.5
|
2.8
|
|
Cable
and Telecom
|
679.3
|
30.7
|
327.7
|
31.1
|
107.3
|
|
Other
Businesses1
|
(39.8)
|
(4.5)
|
(22.5)
|
(2.5)
|
(76.9)
|
|
Operating
Segment Income
|
4,094.4
|
35.2
|
3,477.3
|
35.5
|
17.7
|
|
Corporate
Expenses
|
(157.8)
|
(1.4)
|
(99.5)
|
(1.0)
|
(58.6)
|
|
Depreciation
and Amortization
|
1,207.1
|
10.6
|
993.3
|
10.4
|
21.5
|
|
Consolidated
Operating Income
|
2,729.5
|
24.0
|
2,384.5
|
25.0
|
14.5
|
|
|
1
Our Publishing Distribution segment is now included under Other
Businesses
|
|
|
2
For segment reporting purposes, intersegment operations are
included in each of the segment operations.
|
|
3
Operating segment income (loss) is defined as operating income (loss)
before depreciation, amortization, and corporate
expenses.
|
|
Television
Broadcasting
|
First-quarter sales
increased 4.1% to Ps.4,041.7 million compared with Ps.3,882.5 million in
first quarter 2008. This increase was driven by strong ratings primarily
during prime time in channel 2 and by the favorable comparison resulting
from the fact that this year the Easter holiday fell in the second quarter
rather than the first quarter.
|
|
First-quarter operating segment
income increased 4.6% to Ps.1,584.3 million compared with Ps.
1,514.2 million in first quarter 2008, and the margin was 39.2%. These
results reflect higher sales that were partially offset by an increase in
cost of sales and operating expenses.
|
|
|
Pay
Television Networks
|
First-quarter sales
increased 31.2% to Ps.608.4 million compared with Ps.463.6 million in
first quarter 2008. This increase was driven by i) higher revenues from
networks sold in Mexico and Latin America that benefited from a positive
translation effect on foreign-currency-denominated sales; and ii) higher
advertising sales.
|
|
First-quarter operating segment
income increased 40.1% to Ps.396.8 million compared with Ps.283.3
million in first quarter 2008, and the margin increased to 65.2%. These
results were driven by higher sales that were partially offset by an
increase in cost of sales and operating expenses.
|
|
|
Programming
Exports
|
First-quarter sales
increased 18.7% to Ps.686.3 million compared with Ps.578.3 million in
first quarter 2008. This growth was driven by a positive translation
effect on foreign-currency-denominated sales amounting to Ps.193.6 million
and higher programming sales to Europe, Asia, and Africa. This was
partially offset by an 18.9% decrease in royalties from Univision, which
amounted to US$29.9 million for the quarter.
|
|
First-quarter operating segment
income increased 38.8% to Ps.340.5 million compared with Ps.245.3
million in first quarter 2008, and the margin increased to 49.6%. These
results were driven by higher sales that were partially offset by a
marginal increase in cost of sales and operating expenses.
|
|
|
Publishing
|
First-quarter sales
increased 5.4% to Ps.766.7 million compared with Ps.727.3 million in first
quarter 2008. This increase reflects a positive translation effect on
foreign-currency-denominated sales that amounted to Ps.132.3 million,
which was partially offset by a decrease in advertising and to a lesser
extent a decrease in magazine circulation sales in Mexico and
abroad.
|
|
First-quarter operating segment
income decreased 54.2% to Ps.22.5 million, compared with Ps.49.1
million in first quarter 2008; the margin was 2.9%. These results reflect
higher cost of sales and operating expenses driven by a negative
translation effect on foreign-currency-denominated costs, which were
partially compensated by the positive translation effect on
foreign-currency-denominated sales.
|
|
|
Sky
|
First-quarter sales
increased 10.8% to Ps.2,416.8 million compared with Ps.2,180.6 million in
first quarter 2008, reflecting i) an increase in its subscriber base,
closing the quarter with 123,000 subscribers in Central America; and ii)
higher advertising revenue. The number of gross active subscribers
increased to 1,784,608 (including 133,435 commercial subscribers) as of
March 31, 2009, compared with 1,642,923 (including 114,855 commercial
subscribers) as of March 31, 2008.
|
|
First-quarter operating segment
income increased 2.8% to Ps.1,110.8 million compared with Ps.
1,080.2 million in first quarter 2008, and the margin was 46%. These
results reflect higher sales that were partially offset by higher cost of
sales and programming expenses mainly driven by a negative translation
effect on foreign-currency-denominated costs.
|
|
|
Cable
and Telecom
|
First-quarter sales
increased 110.3% to Ps.2,214 million compared with Ps.1,052.8 million in
2008. This increase was attributable to i) a 19.9% increase in sales of
Cablevision, driven mainly by a 19.9% increase in revenue generating units
(RGUs); ii) the consolidation of Cablemás starting June 2008, which
represented incremental revenue of Ps.899 million for first quarter 2009;
and iii) the growth in Bestel’s sales by Ps.131.8 million to Ps.528.9
million.
|
|
The
following table sets forth the breakdown of subscribers, as well as
operating results for Cablevision and Cablemás, stated in millions of
Mexican
pesos.
|
|
1Q
2009
|
Cablevision
|
Cablemás
|
||
|
Video
|
594,407
|
874,696
|
||
|
Broadband
|
206,493
|
247,237
|
||
|
Telephony
|
70,257
|
84,680
|
||
|
RGUs
|
871,157
|
1,206,613
|
||
|
Revenue
|
786.1
|
899.0
|
||
|
Operating
Segment Income
|
277.4
|
311.8
|
||
|
Margin
(%)
|
35.3
|
34.7
|
|
Other
Businesses
|
First-quarter sales
decreased 1.9% to Ps.884.1 million compared with Ps.901.2 million in first
quarter 2008. This decrease was driven by lower sales in our feature-film
distribution, publishing distribution, and internet businesses, which were
partially compensated by higher sales in our gaming and soccer
businesses.
|
|
First-quarter operating segment
loss increased 76.9% to Ps.39.8 million compared with Ps.22.5
million in 2008, reflecting lower sales and higher operating expenses,
which were partially offset by lower cost of
sales.
|
Corporate
Expenses
Share-based
compensation expense in first-quarter 2009 amounted to Ps.68.6 million, and was
accounted for as corporate expense. Share-based compensation expense is measured
at fair value at the time the equity benefits are granted to officers and
employees, and is recognized over the vesting period.
Non-Operating
Results
Other
expense, net
Other
expense, net, in first quarter 2009, included primarily professional services in
connection with certain litigation, donations and loss on disposition of
assets.
Other
expense, net, increased by Ps.67.8 million, to Ps.92.7 million for first quarter
2009, compared with Ps.24.9 million for first quarter 2008. This increase
reflected primarily an increase in expense for professional services in
connection with certain litigation; as well as in donations.
Integral
cost of financing
The
following table sets forth integral cost of financing stated in millions of
Mexican pesos for the three months ended March 31, 2009 and 2008.
|
1Q
2009
|
1Q
2008
|
Increase
(decrease)
|
|
|
Interest
expense
|
858.5
|
649.2
|
209.3
|
|
Interest
income
|
(346.1)
|
(423.2)
|
77.1
|
|
Foreign
exchange loss, net
|
199.2
|
302.0
|
(102.8)
|
|
Integral
cost of financing
|
711.6
|
528.0
|
183.6
|
The net
expense attributable to integral cost of financing increased by Ps.183.6
million, to Ps.711.6 million for first quarter 2009 from Ps.528 million for
first quarter 2008. This increase primarily reflected i) a Ps.209.3 million
increase in interest expense, due mostly to a higher principal amount of
long-term debt in first quarter 2009; and ii) a Ps.77.1 million decrease in
interest income explained by a reduction of interest rates applicable to foreign
currency temporary investments in first quarter 2009. These unfavorable
variances were partially offset by a Ps.102.8 million decrease in foreign
exchange loss resulting mainly from a lower loss effect on certain derivative
contracts to cover foreign exchange risk.
Equity
in losses of affiliates, net
Equity in
losses of affiliates, net, increased by Ps.127.6 million, or 68.9%, to Ps.312.9
million in first quarter 2009 compared with Ps.185.3 million in first quarter
2008. This increase primarily reflected an increase in equity in loss of La
Sexta, our 40% interest in a free-to-air television channel in
Spain.
Income
taxes
Income
taxes increased by Ps.34 million, or 7.1%, to Ps.510.2 million in first quarter
2009 from Ps.476.2 million in first quarter 2008. This increase primarily
reflected a higher income tax base.
Non-controlling
interest net income
Non-controlling
interest net income increased by Ps.7.5 million, or 6.4%, to Ps.124.1 million in
first quarter 2009, from Ps.116.6 million in first quarter 2008. This increase
reflected primarily a higher portion of consolidated net income attributable to
interests held by non-controlling equity owners in our Sky segment, which was
partially offset by a lower portion of consolidated net income attributable to
interests held by non-controlling stockholders in our Cable and Telecom
segment.
Other
Relevant Information
Capital
expenditures and investments
During
first quarter 2009, we invested approximately US$60.2 million in property, plant
and equipment as capital expenditures, including approximately US$30.7 million
for our Cable and Telecom segment, US$17.2 million for our Sky segment, US$2.3
million for our gaming business, and US$10 million for our Television
Broadcasting segment and other businesses. In addition, we made contributions in
connection with our 40% interest in La Sexta in the amount of €12
million.
Our
investment in property, plant and equipment during the quarter in our Cable and
Telecom segment includes approximately US$11.1 million for Cablevision, US$18.3
million for Cablemás, and US$1.3 million for Bestel.
Debt
and satellite transponder lease obligation
The
following table sets forth our total consolidated debt and satellite transponder
lease obligation as of March 31, 2009 and 2008. Amounts are stated in millions
of Mexican pesos.
|
March
31, 2009
|
March
31, 2008
|
Increase
(decrease)
|
|
|
Current
portion of long-term debt
|
1,214.2
|
248.9
|
965.3
|
|
Long-term
debt (excluding current portion)
|
37,324.0
|
24,953.9
|
12,370.0
|
|
38,538.2
|
25,202.8
|
13,335.3
|
|
|
Current
portion of satellite transponder lease obligation
|
146.5
|
98.0
|
48.5
|
|
Long-term
satellite transponder lease obligation
(excluding
current portion)
|
1,164.6
|
983.4
|
181.2
|
|
1,311.1
|
1,081.4
|
229.7
|
As of
March 31, 2009 and 2008, our consolidated net cash position (cash and cash
equivalents, temporary investments, and long-term investments less total debt)
was Ps.5,410.5 million and Ps.6,922.5 million, respectively. Long-term
investments as of March 31, 2009 and 2008, amounted to Ps.1,315.7 million and
Ps.1,553.2 million, respectively.
Shares
outstanding
As of
March 31, 2009, our outstanding shares are:
|
1Q
2009
|
1Q
2008
|
|
|
Shares
Outstanding (millions)
|
329,705
|
330,168
|
|
CPO
Equivalent Outstanding (millions)1
|
2,818
|
2,822
|
|
GDS
Equivalent Outstanding (millions)2
|
564
|
564
|
1 Not all
shares are in the form of CPOs. The number of CPO equivalents is calculated by
dividing the number of shares outstanding by 117.
2 The number
of GDS equivalents is calculated by dividing the number of CPO equivalents by
5.
Television
ratings and audience share
National
urban ratings and audience share reported by IBOPE confirm that, in first
quarter 2009, Televisa continued to deliver strong ratings and audience shares.
During weekday prime time (19:00 to 23:00, Monday to Friday), audience share
amounted to 73.8%; in prime time (16:00 to 23:00, Monday to Sunday), audience
share amounted to 71.2%; and in sign-on to sign-off (6:00 to 24:00, Monday to
Sunday), audience share amounted to 72%.
About
Televisa
Grupo
Televisa, S.A.B., is the largest media company in the Spanish-speaking world and
a major participant in the international entertainment business. It has
interests in television production and broadcasting, production of
pay-television networks, international distribution of television programming,
direct-to-home satellite services, cable television and telecommunication
services, magazine publishing and distribution, radio production and
broadcasting, professional sports and live entertainment, feature-film
production and distribution, the operation of an internet portal, and gaming.
Grupo Televisa also owns an unconsolidated equity stake in La Sexta, a
free-to-air television venture in Spain.
Disclaimer
This
press release contains forward-looking statements regarding the Company’s
results and prospects. Actual results could differ materially from these
statements. The forward-looking statements in this press release should be read
in conjunction with the factors described in “Item 3. Key Information –
Forward-Looking Statements” in the Company’s Annual Report on Form 20-F, which,
among others, could cause actual results to differ materially from those
contained in forward-looking statements made in this press release and in oral
statements made by authorized officers of the Company. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only as
of their dates. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
|
|
(Please
see attached tables for financial information and ratings
data)
|
|
|
###
|
|
Investor
Relations:
|
Media
Relations:
|
|
Carlos
Madrazo
|
Manuel
Compeán
|
|
María
José Cevallos
|
Tel:
(5255) 5728 3815
|
|
Tel:
(5255) 5261-2445
|
Fax:
(5255) 5728 3632
|
|
Fax:
(5255)5261-2494
|
mcompean@televisa.com.mx
|
|
ir@televisa.com.mx
|
http://www.televisa.com
|
|
http://www.televisa.com
|
|
|
http://www.televisair.com
|
|
GRUPO
TELEVISA, S.A.B.
|
||||||||
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
||||||||
|
AS
OF MARCH 31, 2009, AND DECEMBER 31, 2008
|
||||||||
|
(Millions
of Mexican Pesos)
|
||||||||
|
March
31,
|
December
31,
|
|||||||
|
2009
|
2008
|
|||||||
|
ASSETS
|
(Unaudited)
|
(Unaudited)
|
||||||
|
Current:
|
||||||||
|
Cash
and cash equivalents
|
Ps. | 33,313.5 | Ps. | 35,106.1 | ||||
|
Temporary
investments
|
9,319.5 | 6,798.3 | ||||||
| 42,633.0 | 41,904.4 | |||||||
|
Trade
notes and accounts receivable, net
|
14,665.2 | 18,199.9 | ||||||
|
Other
accounts and notes receivable, net
|
2,966.5 | 2,231.5 | ||||||
|
Due
from affiliated companies
|
412.1 | 161.8 | ||||||
|
Transmission
rights and programming
|
3,681.6 | 3,343.4 | ||||||
|
Inventories
|
1,535.9 | 1,612.0 | ||||||
|
Other
current assets
|
1,397.2 | 1,105.9 | ||||||
|
Total
current assets
|
67,291.5 | 68,558.9 | ||||||
|
Derivative
financial instruments
|
2,309.4 | 2,316.6 | ||||||
|
Transmission
rights and programming
|
6,883.7 | 6,324.8 | ||||||
|
Investments
|
3,578.3 | 3,348.6 | ||||||
|
Property,
plant, and equipment, net
|
30,545.4 | 30,798.4 | ||||||
|
Intangible
assets and deferred charges, net
|
11,461.6 | 11,433.8 | ||||||
|
Other
assets
|
74.3 | 70.7 | ||||||
|
Total
assets
|
Ps. | 122,144.2 | Ps. | 122,851.8 | ||||
|
GRUPO
TELEVISA, S.A.B.
|
||||||||
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
||||||||
|
AS
OF MARCH 31, 2009, AND DECEMBER 31, 2008
|
||||||||
|
(Millions
of Mexican Pesos)
|
||||||||
|
March
31,
|
December
31,
|
|||||||
|
2009
|
2008
|
|||||||
|
LIABILITIES
|
(Unaudited)
|
(Unaudited)
|
||||||
|
Current:
|
||||||||
|
Current
portion of long-term debt
|
Ps. | 1,214.2 | Ps. | 2,283.2 | ||||
|
Current
portion of satellite transponder lease obligation
|
146.5 | 138.8 | ||||||
|
Trade
accounts payable
|
6,839.1 | 6,337.4 | ||||||
|
Customer
deposits and advances
|
16,453.9 | 18,098.6 | ||||||
|
Taxes
payable
|
602.6 | 830.1 | ||||||
|
Accrued
interest
|
463.9 | 439.8 | ||||||
|
Employee
benefits
|
317.6 | 200.0 | ||||||
|
Due
to affiliated companies
|
85.8 | 88.6 | ||||||
|
Other
accrued liabilities
|
2,197.4 | 2,293.8 | ||||||
|
Total
current liabilities
|
28,321.0 | 30,710.3 | ||||||
|
Long-term
debt, net of current portion
|
37,324.0 | 36,679.9 | ||||||
|
Derivative
financial instruments
|
655.2 | 604.6 | ||||||
|
Satellite
transponder lease obligation, net of current portion
|
1,164.6 | 1,172.9 | ||||||
|
Customer
deposits and advances, non current
|
589.4 | 589.4 | ||||||
|
Other
long-term liabilities
|
3,401.5 | 3,225.5 | ||||||
|
Deferred
income taxes
|
2,364.6 | 2,265.2 | ||||||
|
Retirement
and termination benefits
|
371.1 | 352.4 | ||||||
|
Total
liabilities
|
74,191.4 | 75,600.2 | ||||||
|
STOCKHOLDERS'
EQUITY
|
||||||||
|
Capital
stock issued, no par value
|
10,061.0 | 10,061.0 | ||||||
|
Additional
paid-in capital
|
4,547.9 | 4,547.9 | ||||||
| 14,608.9 | 14,608.9 | |||||||
|
Retained
earnings:
|
||||||||
|
Legal
reserve
|
2,135.4 | 2,135.4 | ||||||
|
Unappropriated
earnings
|
27,301.2 | 19,595.3 | ||||||
|
Controlling
interest net income for the period
|
978.0 | 7,803.7 | ||||||
| 30,414.6 | 29,534.4 | |||||||
|
Accumulated
other comprehensive income, net
|
2,992.6 | 3,184.0 | ||||||
|
Shares
repurchased
|
(5,142.1 | ) | (5,308.4 | ) | ||||
| 28,265.1 | 27,410.0 | |||||||
|
Total
controlling interest
|
42,874.0 | 42,018.9 | ||||||
|
Noncontrolling
interest
|
5,078.8 | 5,232.7 | ||||||
|
Total
stockholders' equity
|
47,952.8 | 47,251.6 | ||||||
|
Total
liabilities and stockholders' equity
|
Ps. | 122,144.2 | Ps. | 122,851.8 | ||||
|
GRUPO
TELEVISA, S.A.B.
|
||||||||
|
CONDENSED
CONSOLIDATED STATEMENTS OF INCOME
|
||||||||
|
FOR
THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008
|
||||||||
|
(Millions
of Mexican Pesos)
|
||||||||
|
Three
months ended March 31,
|
||||||||
|
2009
|
2008
|
|||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||
|
Net
sales
|
Ps. | 11,362.4 | Ps. | 9,538.1 | ||||
|
Cost
of sales1
|
5,603.6 | 4,783.6 | ||||||
|
General
expenses:
|
||||||||
|
Selling1
|
912.3 | 751.7 | ||||||
|
Administrative1
|
909.9 | 625.0 | ||||||
|
Depreciation
and amortization
|
1,207.1 | 993.3 | ||||||
|
Operating
income
|
2,729.5 | 2,384.5 | ||||||
|
Other
expense, net
|
92.7 | 24.9 | ||||||
|
Integral
result of financing:
|
||||||||
|
Interest
expense
|
858.5 | 649.2 | ||||||
|
Interest
income
|
(346.1 | ) | (423.2 | ) | ||||
|
Foreign
exchange loss, net
|
199.2 | 302.0 | ||||||
| 711.6 | 528.0 | |||||||
|
Equity
in losses of affiliates, net
|
312.9 | 185.3 | ||||||
|
Income
before income taxes
|
1,612.3 | 1,646.3 | ||||||
|
Income
taxes
|
510.2 | 476.2 | ||||||
|
Consolidated
net income
|
1,102.1 | 1,170.1 | ||||||
|
Noncontrolling
interest net income
|
124.1 | 116.6 | ||||||
|
Controlling
interest net income
|
Ps. | 978.0 | Ps. | 1,053.5 | ||||
1
Excluding depreciation and amortization.
NATIONAL
URBAN RATINGS AND AUDIENCE SHARE FOR FULL-YEAR 2008 AND FIRST QUARTER OF
20091:
SIGN-ON
TO SIGN-OFF – 6:00 TO 24:00, MONDAY TO SUNDAY
|
Jan
|
Feb
|
Mar
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Oct
|
Nov
|
Dec
|
2008
|
Jan
|
Feb
|
Mar
|
1Q09
|
|
|
Channel
2
|
|||||||||||||||||
|
Rating
|
10.6
|
11.8
|
11.2
|
11.9
|
11.5
|
11.2
|
11.4
|
11.1
|
11.8
|
12.4
|
12.0
|
11.5
|
11.5
|
11.7
|
11.7
|
11.9
|
11.8
|
|
Share
(%)
|
29.0
|
32.0
|
30.8
|
33.2
|
31.7
|
31.0
|
31.6
|
31.2
|
33.1
|
34.7
|
33.2
|
33.7
|
32.1
|
32.4
|
31.5
|
32.3
|
32.1
|
|
Total
Televisa2
|
|||||||||||||||||
|
Rating
|
26.2
|
27.0
|
26.0
|
26.1
|
25.9
|
25.8
|
26.4
|
25.6
|
25.9
|
26.2
|
25.7
|
24.7
|
26.0
|
26.1
|
26.8
|
26.3
|
26.4
|
|
Share
(%)
|
71.4
|
72.9
|
71.9
|
73.1
|
71.78
|
71.42
|
73.5
|
71.8
|
72.8
|
73.2
|
71.4
|
72.4
|
72.3
|
72.4
|
72.4
|
71.3
|
72.0
|
PRIME
TIME – 16:00 TO 23:00, MONDAY TO SUNDAY3
|
Jan
|
Feb
|
Mar
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Oct
|
Nov
|
Dec
|
2008
|
Jan
|
Feb
|
Mar
|
1Q09
|
|
|
Channel
2
|
|||||||||||||||||
|
Rating
|
15.2
|
17.8
|
16.5
|
17.4
|
16.7
|
16.4
|
17.1
|
16.0
|
17.3
|
18.5
|
17.2
|
16.5
|
16.9
|
17.2
|
17.1
|
17.6
|
17.3
|
|
Share
(%)
|
29.6
|
34.5
|
33.2
|
35.2
|
34.0
|
33.4
|
34.9
|
33.4
|
35.1
|
37.2
|
34.0
|
35.1
|
34.1
|
34.1
|
33.2
|
34.5
|
33.9
|
|
Total
Televisa2
|
|||||||||||||||||
|
Rating
|
35.7
|
37.2
|
35.4
|
35.9
|
34.7
|
34.8
|
35.6
|
34.3
|
35.3
|
35.6
|
35.3
|
33.2
|
35.2
|
36.1
|
36.9
|
36.1
|
36.3
|
|
Share
(%)
|
69.6
|
71.8
|
71.1
|
72.7
|
70.7
|
70.8
|
72.8
|
71.5
|
71.4
|
71.7
|
69.8
|
70.7
|
71.2
|
71.4
|
71.5
|
70.7
|
71.2
|
WEEKDAY
PRIME TIME – 19:00 TO 23:00, MONDAY TO FRIDAY3
|
Jan
|
Feb
|
Mar
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Oct
|
Nov
|
Dec
|
2008
|
Jan
|
Feb
|
Mar
|
1Q09
|
|
|
Channel
2
|
|||||||||||||||||
|
Rating
|
19.0
|
24.9
|
23.3
|
23.0
|
22.6
|
22.0
|
21.9
|
20.5
|
20.8
|
22.4
|
21.2
|
19.7
|
21.8
|
21.4
|
21.6
|
21.0
|
21.3
|
|
Share
(%)
|
31.6
|
40.5
|
40.6
|
40.8
|
40.2
|
39.2
|
39.3
|
37.3
|
37.3
|
39.5
|
36.7
|
36.9
|
38.3
|
36.2
|
35.9
|
35.7
|
35.9
|
|
Total
Televisa2
|
|||||||||||||||||
|
Rating
|
41.5
|
45.3
|
43.4
|
43.0
|
42.0
|
41.6
|
42.0
|
40.6
|
41.4
|
42.3
|
42.3
|
38.6
|
42.0
|
43.8
|
44.5
|
43.1
|
43.8
|
|
Share
(%)
|
69.2
|
73.7
|
75.5
|
76.4
|
74.5
|
74.1
|
75.4
|
73.9
|
74.2
|
74.5
|
73.3
|
72.1
|
73.9
|
73.9
|
73.9
|
73.4
|
73.8
|
1 National
urban ratings and audience share are certified by IBOPE and are based upon
IBOPE's national surveys, which are calculated seven days a week, in Mexico
City, Guadalajara, Monterrey, and 25 other cities with a population of more than
500,000 people. “Ratings” for a period refers to the number of television sets
tuned into the Company’s programs as a percentage of the total number of all
television households. “Audience share” is the number of television sets tuned
into the Company's programs as a percentage of the number of households watching
conventional over-the-air television during that period, without regard to the
number of viewers.
2 "Total
Televisa" includes the Company's four networks as well as all local affiliates
(including affiliates of Channel 4, most of which receive only a portion of
their daily programming from Channel 4). Programming on affiliates of Channel 4
is generally broadcast in 12 of the 28 cities covered by national surveys.
Programming on Channel 9 affiliates is broadcast in all of the cities covered by
national surveys.
3 "Televisa Prime Time" is the time
during which the Company generally charges its highest rates for its
networks.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
GRUPO
TELEVISA, S.A.B.
|
|||
|
(Registrant)
|
|||
|
Dated: May
5, 2009
|
By:
|
/s/ Jorge Lutteroth
Echegoyen
|
|
|
Name:
|
Jorge
Lutteroth Echegoyen
|
||
|
Title:
|
Controller,
Vice President
|
||