Investor Presentation
As of Third Quarter 2019
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.
2
SNAPSHOT:Our Core Businesses
Share of Consolidated Revenue LTM 3Q19
CABLEA leading cable operator | CONTENT | |||
in Mexico | Advertising | |||
Video: 4.3 million RGUs * | Video | Four broadcast channels | ||
in Mexico City and | ||||
Broadband: 4.7 million RGUs | ||||
affiliated stations | ||||
Voice: 3.5 million RGUs | ||||
throughout the country | ||||
* Revenue generating units | ||||
Voz | 38% | Network Subscription | ||
33% | 26 pay-tv networks and | |||
74 feeds in Mexico and | ||||
CABLE | CONTENT | globally | ||
Licensing & Syndication | ||||
WiFi | SKY | Univision royalties, other | ||
licensing fees, and | ||||
20% | CONTENT | exports to over 75 | ||
countries |
SKY | |||
SKYA leading DTH system in Mexico and broadband provider, also | |||
operating in Central America and the Dominican Republic | |||
Video:7.4 million RGUs | |||
Broadband:319 thousand RGUs | |||
3 | |||
Source: Grupo Televisa's public filings | |||
SNAPSHOT: Highlights
oPs.100 billion in consolidated revenue in LTM 3Q19
oConsolidatedOperating Segment Income ("OSI") of Ps.41 billion in LTM 3Q19
- Investment grade.Average debt maturity over 17.3 years. Net-debt-to-OSI of 2.3x
- DecliningCapitalExpenditures-to-Salesratio from 27.6% in 2016 to 18.9% in LTM 3Q19
o20.2 mm revenue generating units (RGUs)contributing with 65.3% of Consolidated OSI in LTM 3Q19
oFastest growing broadband providerin the country in terms of new customers
oContent production powerhouse. During the third quarter the top 10 watched programs were produced and transmitted by Televisa
oTwo thirds of Televisa's equityis in the hands of institutional investors, mostly U.S. based
oPublicly tradedin the NYSE since 1993 andin the Mexican Stock Exchange since 1991
4
DEFINING TRENDS
- Highlights 3Q'19
-
Diversified revenue streams
III. Growing operating cash flow
IV. Untapped opportunities in growth markets
V. Strong balance sheet
5
Highlights 3Q'19
Consolidated
- Consolidated Sales and Consolidated Operating Segment Income, excluding thenon-recurring licensing of certain rights of the World Cup in Latin America in 2018, increased 7.3% and 10.8%, respectively.
Cable
- Sales and Operating Segment Income grew 14.7%, both, reaching a margin of 42.4%.
- Sales and Operating Segment Income in the MSO business grew 16.8% and 16.1%, respectively, adding 126 thousand RGUs.
- Excluding the Axtel acquisition last year, organic top line growth in the MSO business was 9.7%.
Sky
- Sky added 19 thousand video RGUs. Broadband RGUs reached 319 thousand after the addition of 81
thousand RGUs.
- Revenue and Operating Segment Income were negatively impacted by the difficultyear-over-year comparison given the loss of video RGUs following the World Cup.
Content
- Our new series "La Usurpadora" delivered the highest ratings during the 9:30 p.m. time slot in our flagship channel, since September 2017.
- Content Sales and Operating Segment Income, excluding thenon-recurring licensing of certain rights of the World Cup in Latin America in 2018, were relatively flat.
- Core private sector advertising revenue was up by 5.1%.
Source: Grupo Televisa's public filings | 6 |
Highlights 3Q'19
Consolidated Revenue
Ps. in billions
1.0 25.8
23.7 24.0
22.3 22.8
19.8
18.8
17.4
3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'18 3Q'19
Consolidated Sales, excluding non- recurring licensing revenue, increased 7.3%.
Consolidated OSI
Ps. in billions
10.8 | ||||
0.6 | ||||
9.6 | 10.0 | 9.7 | ||
9.3 | ||||
8.3
8.0
7.5
3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'18 3Q'19
Consolidated Operating Segment
Income, excluding non-recurring licensing
revenue, increased 10.8%.
Non-recurring licensing effect
Source: Grupo Televisa's public filings
7
Highlights 3Q'19
Ps. in billions | Cable Revenue |
10.6
9.2
8.2 8.3
7.3
5.3
3.9 4.4
3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'18 3Q'19
-
Strong top line growth: 15.3% CAGR* from 2013 in
LTM 3Q'19
- OSI margins have expanded rapidly, reaching 42.9% in LTM 3Q'19, up from 35.8% in 2013
- During 3Q'19 total net adds were 126 thousand,year-over-year growth in RGUs was 14.3%
Net Adds ('000) | 4Q18 | 1Q19 | 2Q19 | 3Q19 |
Video | 6 | -9 | 11 | -42 |
Broadband | 81 | 89 | 73 | 19 |
Telephony | 229 | 205 | 202 | 149 |
RGU Net Adds | 316 | 285 | 286 | 126 |
Ps. in billions
Cable O.S.I.
4.5
3.9
3.4 3.5
3.0
- After an important decline in capex, the Cable segment is now free cash flow positive
oOver 15.0 million homes passed, of which more |
than 90% can receive broadband speeds of 100 |
2.0
1.4 1.5
3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'18 3Q'19
*Compound Annual Growth Rate Source: Grupo Televisa's public filings
Mbps |
- OurEnterprise businesshas posted five consecutive quarters of growth, with revenues expanding at a rate of 5.9% in 3Q'19.
8
Highlights 3Q'19
- As of 3Q'19, more than7.7 million RGUsin Mexico and Central America
oSecond consecutive quarter growing video |
Ps. in billions
Sky Revenue
5.5 5.4 5.45.3
4.9
subscribers, adding more than 19 thousand RGUs |
- Revenue reached Ps.21.4 billion in LTM 3Q´19, contributing with 20.3% of consolidated revenue
- OSI Margins have remained solid for more than 10 years, in spite of strong competition
3.7
4.5
4.1
3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'18 3Q'19
- In 2018 we launched broadband services under theBlue Telecommbrand. In 3Q'19 we added 80.6 thousand broadband RGUs, reaching a total of 319 thousand
Ps. in billions
Sky O.S.I.
2.3 2.5 2.72.62.4
1.7
2.1
1.9
Source: Grupo Televisa's public filings | 3Q'12 | 3Q'13 | 3Q'14 | 3Q'15 | 3Q'16 | 3Q'17 | 3Q'18 | 3Q'19 | 9 |
Highlights 3Q'19
Content Revenue
Ps. in billions
Non-recurring licensing effect
8.8 | 8.6 | 8.7 | 8.7 | ||||
8.3 | 8.5 | 8.0 | 1.0 | ||||
8.7 | |||||||
3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'18 3Q'19
Content O.S.I
Ps. in billions
Non-recurring licensing effect
4.2 4.4 4.0 4.0
3.6
3.1 | 0.6 | 3.1 |
3.1 |
3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'18 3Q'19
- We are the leading producer of Spanish language content in the world.
- As of 3Q'19, excluding thenon-recurring licensing revenue, Content Revenue decreased 0.5% and OSI increased 0.1%.
- Advertising sales decreased by 5.2%. The decline was mostly driven by lower government advertising revenue. Excluding the effect of the World Cup, core private sector advertising revenue was up by 5.1%.
- We continue updating our content offering:
- We are remaking some of Televisa's most iconic dramas with updated formats.
- We launched the second drama of The Dream Factory Project, called Cuna de Lobos. The first one, La Usurpadora, achieved record ratings.
- We launched The Masked Singer with great success.
Source: Grupo Televisa's public filings | 10 |
Highlights 3Q'19
(Ch.2)Las Estrellas
Kids
News
Sports
Movies
Televisa
Networks
- #1 Morning, afternoon and prime time channel in Mexico FTA TV
- Most watched shows(Mo-Fri):La Usurpadora, La Rosa de Guadalupe y Sin Miedo a la
Verdad 2
o#1 Comedy Shows: Vecinos(Mo-Fri) /Una Familia de Diez 2(Sun)
o#1 Magazine show:Cuéntamelo Ya & Hoy
oTelevisa's Channel 2 and Channel 5 have as much audience as all pay TV channels combined
oMost successful animated content vs Free to air and Pay TV Channels
o#1 morning newscasts with Despiertaand Al aire con Paolao#1 night newscast with En punto con Denise Maerker
o8 out of 10 most watched soccer matches in local league
oMost watched night soccer show: Contacto Deportivo & Not. Televisa Deportes(Mo-Fri) /
La Jugada (Sun)
oSome of the most successful movies in Free to air Television: No se aceptan devoluciones(Las Estrellas), Shrek 2(Canal 5) y Nosotros los Nobles(Las Estrellas)
oMost watched channel among women: Tlnovelas | |
o#1 most watched movie network: De Película | |
o#1 most watched comedy channel: Distrito Comedia | 11 |
DEFINING TRENDS
- Highlights 3Q'19
II. Diversified revenue streams
III. Growing operating cash flow
IV. Untapped opportunities in growth markets
V. Strong balance sheet
12
DIVERSIFIED REVENUE STREAMS
A strong position in our three core businesses
Cable Revenue
Ps. in billions
40.2
36.2
31.9 33.0
28.5
20.9
2014 2015 2016 2017 2018 LTM 3Q´19
Strong organic growth as a result of attractive 3-play offers and a focus on customer service
Source: Grupo Televisa's public filings
Sky Revenue
Ps. in billions
21.9 22.2 22.0 21.4
19.3
17.5
2014 2015 2016 2017 2018 LTM 3Q´19
Leveraging off its customer base of 7.4 million video RGUs to sell broadband services
Content Revenue
Ps. in billions
39.2* | ||||
34.9 | 34.3 | 36.7 | 34.0 | 34.5 |
2014 2015 2016 2017 2018 LTM
3Q´19
*Includes the non-recurring licensing revenue
Stable level of revenues in the context of a highly competitive environment
13
DIVERSIFIED REVENUE STREAMS
Distribution (Cable & Sky) overtook Content in terms of OSI since 2014
Consolidated Revenue
Ps. in billions
OSI Margin
96.3 | 101.3* | 100.2 |
94.3 | ||
88.1
80.1
39.6% | 39.6% | 39.2% | 38.4% | 38.3% | 38.4% |
2014 2015 2016 2017 2018 LTM 3Q´19
*Includes the non-recurring licensing revenue
Contribution to OSI
24% | Others | |||||
32% | 34% | 37% | 38% | Cable | ||
43% | ||||||
25% | ||||||
25% | 25% | 27% | 24% | Sky | ||
23% | ||||||
Content
48% 41% 38% 34% 37% 30%
2014 2015 2016 2017 2018 LTM 3Q´19
Our multiple revenue sources have | Cable has overtaken Content as the |
allowed us to post a CAGR of 5.2% | most important contributor to |
since 2013 | Consolidated OSI |
Source: Grupo Televisa's public filings | 14 |
DIVERSIFIED REVENUE STREAMS: Content
Within Content, the revenue mix has also changed with advertising declining in importance
Content Revenue Mix
All Other Content Revenue
Advertising Revenue
27% 27% 29%
36%38% 38% 42% 45%
73% 73% 71%
64%62% 62% 58% 55%
oTelevisa's content revenue mix | Content Revenue | |||||||
has changed over the years | Ps. in billions | |||||||
o | During 3Q'19, advertising | Worldcup Sublicensing | ||||||
Licensing & Syndication | ||||||||
revenues represented 55.3% of | Network Subscription | |||||||
Advertising | ||||||||
Content revenues | ||||||||
1.0 | ||||||||
o | Advertising revenues | 1.4 | 1.5 | |||||
1.8 | 2.2 | 2.2 | 2.5 | 2.6 | ||||
represented 18.6% of | 2.2 | |||||||
0.8 | 0.9 | |||||||
0.7 | ||||||||
Consolidated Revenues in 3Q'19 | 0.9 | 1.1 | ||||||
0.9 | 1.2 | 1.2 | ||||||
oTelevisa continues to explore | ||||||||
and develop other ways to | 6.1 | 6.4 6.0 | 5.5 | 5.4 | 4.9 | 5.1 | 4.8 | |
monetize the content it | ||||||||
produces |
Source: Grupo Televisa's public filings | 15 |
DIVERSIFIED REVENUE STREAMS: Content
The majority of our Licensing and Syndication revenue originates in the Univision Royalties
Royalties
USD Millions
384
376
325
311 314
2015 2016 2017 2018 LTM 3Q´19
oWe monetize our content in U.S. | Univision | ||||||
through our licensing agreement | |||||||
USD Millions | |||||||
with Univision. | |||||||
oThe royalty rate is 16.45% of | Total Revenue | Adjusted OIBDA | |||||
Interest Expense | |||||||
substantially all of Univision's | |||||||
750 | |||||||
audiovisual revenue. | |||||||
689 | 702 | 681 | |||||
666 | |||||||
628 | |||||||
oA step up in the royalty rate of | 612 | ||||||
Univision came into effect in | |||||||
January and again in July 2018. | |||||||
oIn addition to our stream of | |||||||
royalties, we hold equity and | 254 | 309 | 266 | 257 | |||
warrants of Univision which upon | 231 | 229 | |||||
204 | |||||||
their exercise would represent | |||||||
36%. | 97 | 98 | 98 | 98 | 97 | 96 | 95 |
Source: Grupo Televisa's and Univision's public filings | 16 |
DIVERSIFIED REVENUE STREAMS: Content
We are turning our digital platforms into a new, solid revenue stream
KPI | Q3 2018 | Q3 2019 | % |
Chg. | |||
Televisa | 20.3m | 25.6m | 26% |
Sites's | |||
Users* | |||
Televisa | 662m | 621m | -6% |
Pageviews | |||
YouTube | 2b | 3b | 61% |
views | |||
1.3b | 2.2b | 64% | |
views | |||
41m | 85m | 37% | |
views | |||
- Grupo Televisa reached 28.6M users in September, up 15% vs. the previous month.
- Las Estrellas, Televisa Networks, and blim tv all had record months in September in terms of audience size, as reported by comScore.
- In 3Q19, Televisa continued to lead as the #1 producer of social video views in Mexico with more than 5.2 billion views across YouTube, Facebook and Instagram, representing an increase of 63% vs. 3Q18.
Some of our key online destinations:
www.televisa.com
www.lasestrellas.tv
tudn.com
noticieros.televisa.com
* Only includes Entertainment, News and Sports content | |
Users: comScore (Desktop 6+ and Total Mobile 15+) | |
Pageviews: comScore (Desktop 6+ and Total Mobile 15+) | 17 |
Youtube, Facebook and Instagram views: Tubular (Televisa total property data) | |
DIVERSIFIED REVENUE STREAMS: Cable
Within cable, broadband and voice account for 65.3% of revenue generating units
Cable RGU Mix
Video | Voice | Data | ||
49% 45% 43%41%37% 35%
18% 21% 22%21%25% 28%
33%34% 35% 38% 38% 37%
- Voice and Broadband are the main sources of growth
- Many Broadband customers are upgrading to faster speeds
- Growing inhigh-speedFiber-to-the-Homeusers
- We keep on strengthening our OTT offer, providing all the relevant content in one place.
- We are the first operator in Mexico offering an OTT Bundle to our customers.
Cable RGU
in millions
Voice RGUs
Data RGUs
Video RGUs
3.0 3.5
2.1 2.1
1.9
1.2 3.1 3.4 3.84.5 4.7
2.3
3.4 | 4.1 | 4.2 | 4.2 | 4.4 | 4.3 |
2014 | 2015 | 2016 | 2017 | 2018 | 3Q´19 | 2014 | 2015 | 2016 | 2017 | 2018 | 3Q´19 |
Source: Grupo Televisa's public filings | 18 |
DIVERSIFIED REVENUE STREAMS: Cable
Our izzi goapp further positions our cable operation for evolving viewing habits
oThe first and only operator in Mexico offering an OTT Bundle to our customers
oWe are positioned as an aggregator of the most relevant content available in the market.
o68 live channels from Mexico and from global content distributors
oOver 40 thousand on-demand assets from Televisa's Blim, FOX Premium, HBO MAX, and other partners.
oNetflix is included in our izzi TV interface
oWith izzi Kids, six live TV channels and hundreds of hours on video on demand
oizzi goapp is available for all video subscribers since April 2019
19
DEFINING TRENDS
- Highlights 3Q'19
- Diversified revenue streams
III. Growing operating cash flow
IV. Untapped opportunities in growth markets
V. Strong balance sheet
20
GROWING OPERATING CASH FLOW
The free cash flow profile of Televisa has improved dramatically
Capital Expenditures
Ps. in billions
Cable
Sky
Content
17.6
16.2 | ||||||||||||
9.2 | 10.1 | 12.3 | 14.0 | |||||||||
5.1 | 5.4 | 6.2 | 3.8 | 3.9 | ||||||||
3.8 | ||||||||||||
2.4 | 2.5 | 2.9 | 2.1 | 1.7 | 1.2 | |||||||
2014 | 2015 | 2016 | 2017 | 2018 | LTM | |||||||
3Q´19 |
- Expanding operating cash flow in Cable and Sky has increased our ability to generate strong free cash flow
- The contribution to consolidated OSI, net of capital expenditures, has almost doubled since 2016
- During the first three quarters of 2019, we invested U.S.$535.1 million in Cable Capex, which represents 82.3% of the U.S.$650.0 million we gave as guidance for full year 2019.
O.S.I minus Capex
Ps. in billions
22.2 21.6
20.7
15.3
10.2 11.0
2014 2015 2016 2017 2018 LTM 3Q´19
Source: Grupo Televisa's public filings | 21 |
GROWING OPERATING CASH FLOW: Cable | ||||||
We are entering the harvesting phase after | ||||||
heavy investments in infrastructure | Cable net adds | |||||
RGUs in millions | 1.6 | |||||
oDuring 2015 and 2016, Televisa accelerated its | 1.5 | |||||
1.2 | ||||||
capital investments in its Cable segment | ||||||
0.6 | 0.7 | 0.6 | 0.7 | |||
oIt embarked on a heavy-capex phase to upgrade | ||||||
0.4 | 0.5 | 0.5 | 0.4 | |||
its network and support growth in RGUs | ||||||
oCable capex reached Ps.17.6 billion in 2016 | ||||||
making Televisa one of the most important | ||||||
investors in Mexico's telecom infrastructure that | It includes RGUs acquired from Axtel | |||||
year
- As a percentage of revenues, Cable capex came down from 55% in 2016 to 35% in LTM 3Q19
Source: Grupo Televisa's public filings
Cable OSI net of CAPEX
Ps. in billions
3.9
3.0 3.3
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | LTM |
-0.4 | -0.2 | -1.5 | -1.4 | 3Q´19 | ||||
-4.8 | -4.3 | |||||||
22
GROWING OPERATING CASH FLOW: Sky
Sky net adds | ||||
RGUs in millions | ||||
1.1 | 1.1 | |||
1.0 | 0.9 | |||
0.7 | ||||
0.6 | 0.6 | |||
0.2 | ||||
0.0 | -0.3 | -0.1 |
Cash flow increased substantially after 2016 due to lower capital needs
- In 2010, Sky launched VeTV, apre-paid basic pay TV package and launched an aggressive campaign to add new subscribers
- Its net adds reached a peak in 2012 installing over 40,000 new services every week, on average
- In 2016, growth further accelerated with the shut- down of the FTA analog signals
Sky OSI net of CAPEX | o | ||
Ps. in billions | 6.3 | ||
5.9 | |||
5.4 | |||
3.5 | 3.7 | o | |
2.7 | 3.1 | ||
2.3 | |||
2.8 |
Majority of LTM subscriber losses are attributed to the post-World Cup effect. In 2Q 2019 Sky resumed growth in video subscribers.
In 2018 Sky launched broadband services through the brand Blue Telecomm, reaching 319 thousand RGUs in 3Q 2019
Source: Grupo Televisa's public filings | 23 |
DEFINING TRENDS
- Highlights 3Q'19
-
Diversified revenue streams
III. Growing operating cash flow
IV. Untapped opportunities in growth markets
V. Strong balance sheet
24
UNTAPPED OPPORTUNITIES: Broadband Market
Composition of Broadband Subs in | Broadband Net Adds | |||||||||||
Mexico | ||||||||||||
3.1% | Thousand RGUs | |||||||||||
Incumbent | 249 | |||||||||||
DSL | 20.1% | |||||||||||
Televisa Cable | ||||||||||||
38.8% | ||||||||||||
Coaxial | ||||||||||||
Fiber | 110 | |||||||||||
Other | 36 | 311 | ||||||||||
62 | 38 | |||||||||||
38.0% | 157 | 173 | 136 | 4 | ||||||||
89 | 73 | 19 | ||||||||||
62 | ||||||||||||
-8 | ||||||||||||
-12 | ||||||||||||
4Q'17 1Q'18 2Q'18 3Q´18 4Q´18 1Q´19 2Q´19 3Q´19
- According to the Mexican regulator, as of the end of the fourth quarter 2018, 7.2 million customers were still on copper (DSL: Digital Subscriber Line)
- This is a fertile pool for Cable as it takes advantage of its superior coaxial and fiber infrastructure
- Over the last eight quarters our Cable Segment has added more than twice the number of Broadband RGUs added by the incumbent
Source: Internal analysis based on IFT and other companies ' public information | 25 |
UNTAPPED OPPORTUNITIES: Broadband Market
Televisa Cable Market Share - | Telecom Market Share | |||||||||||
Bradband services | ||||||||||||
24.1% | 24.6% | 7.6% | AMX | |||||||||
6.4% | ||||||||||||
22.2% | Telefónica | |||||||||||
20.8% | 21.3% | |||||||||||
4.7% | ||||||||||||
AT&T | ||||||||||||
16.4% | 3.8% | Megacable | ||||||||||
13.1% | ||||||||||||
Sky | ||||||||||||
12.3% | 59.5% | Televisa Cable | ||||||||||
Otros | ||||||||||||
5.7% | ||||||||||||
As of 3Q19 | ||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 3Q´19 | ||||||
oOur cable operation, izzi, has been gaining | oIn spite of Televisa's strong growth in the | |||||||||||
market share for more than 6 years | telecom market, it is still a small participant in |
the industry
Source: Internal analysis based on IFT and other companies' public information | 26 |
UNTAPPED OPPORTUNITIES: Broadband Market
Fixed broadband penetration
% per 100 inhabitants
50.0
subscribers per 100 inhabitants
40.0
30.0
20.0
10.0
0.0
Switzerland | Denmark | France | Netherlands | Norway | Korea | Germany | United Kingdom | Belgium | Sweden | Iceland | Canada | Greece | Luxembourg | Portugal | United States | New Zealand | Spain | Estonia | Japan | Hungary | Finland | Australia | Czech Republic | Ireland | Slovenia | Austria | Italy | Lithuania | Slovak Republic | Israel | Latvia | Poland | Chile | Turkey | Mexico | Colombia |
- Mexico's broadband market is just developing. Broadband customers in Mexico still have among the lowest speeds in the OECD.
- Mexico has the second lowest penetration of broadband services of all OECD countries, and the lowest speed.
- We are positioned like to no other operator in Mexico to benefit from increased demand for broadband.
Source: OECD, Broadband Portal (December 2018) | 27 |
UNTAPPED OPPORTUNITIES: Broadband Market
There are 33mmhomes in the country
of which more than 15mmhomes are passed by Televisa Cable
Of those, more than 90%are capable of getting 100Mbps from Televisa Cable
but only 4.6mmhomes are currently customers of our broadband offering
There is plenty of room for further growth among the existing homes passed
In the large majority of the markets we reach, Televisa is the provider capable of delivering the fastest speeds
Source: Internal analysis based on IFT and other companies' public information | 28 |
DEFINING TRENDS
- Highlights 3Q'19
-
Diversified revenue streams
III. Growing operating cash flow
IV. Untapped opportunities in growth markets
V. Strong balance sheet
29
STRONG BALANCE SHEET
Limited FX exposure, comfortable debt profile, long maturities
Anoperating hedge:
- dollar-denominatedrevenue US$933 million(2018)
- dollar-denominatedcosts and expenses US$750 million(2018)
Abalance sheet hedge:
- US$4.4bin total debt
- US$3.5bin total assets
We have a very comfortable debt profile with very long maturities (data as of 3Q19)
- Net debt to OSI ratio: around2.3xas of 3Q19 (LTM OSI)
- Closest relevant maturities:US$600 million in 2025
- Weighted average maturity: USD is20.8 years, MXN is 9.2 years
- 67%of debt in USD, 33%of debt in MXN. Average interest rates: in USD 5.92%, in MXN 8.04%
- US$263 millionin interest expense (2020), most of which is hedged
In October, Televisa concluded the prepayment of the total outstanding amount of MXN$10,000million and of the Company's local bonds TLEVISA 10.
Source: Grupo Televisa's public filings. | 30 |
OTHER RELEVANT INFORMATION
31
SUSTAINABILITY:Many recent milestones
-
One of the only three Mexican companies included in the 2019Dow Jones
Sustainability Emerging Markets Index.
- Member of the2019 Dow Jones Sustainability MILA Pacific Alliance Index.
- Included as a constituent of the2019 FTSE4Good Emerging Index.
- Part of theUnited Nations (UN) Global Compact,the world's largest corporate sustainability initiative.
- Televisa has submitted ourReport for Climate Change and Water through CDP (formerly the Carbon Disclosure Project).
- Member of theIPC Sustentable(Sustainability Index), of the Bolsa Mexicana de Valores (Mexican Stock Exchange).
- Televisa's social responsibility programs were recognized for the second time with the "Empresa Socialmente Responsable" award.
- Included in the2019 Bloomberg Gender-Equality Index.
- Our facilities Santa Fe, San Ángel and Collection Center received theEnvironmental Quality Certificateissued by federal environmental entities.
- Televisa was recertified with the new version ofthe norm ISO 14001:2015in three of our facilities: Santa Fe, San Ángel and Collection Center.
Source: Grupo Televisa's public filings | 32 |
Investor Relations
www.televisair.com
+ (52) 55 5261 2438
Av. Vasco de Quiroga 2000, A4. Col. Santa Fe
CP. 01210
Mexico City
Carlos Madrazo
VP, Head of Investor Relations cmadrazov@televisa.com.mx
Santiago Casado
Investor Relations Director scasado@televisa.com.mx
Pablo Necoechea
Sustainability and Analysis Coordinator pdnecoecheap@televisa.com.mx
Ana Paola Montiel
Investor Relations Analyst apmontiel@televisa.com.mx
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Grupo Televisa SAB published this content on 08 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2019 20:44:07 UTC