(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 ☒ Form 40-F ☐
(Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).)
Yes ☐ No ☒
(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).)
Yes ☐ No ☒
|
TLEVISA |
Consolidated |
|
Ticker: TLEVISA |
Quarter: 3 Year: 2021 |
|
2
|
|
|
12
|
|
|
14
|
|
|
16
|
|
|
17
|
|
|
19
|
|
|
21
|
|
|
24
|
|
|
27
|
|
|
28
|
|
|
29
|
|
|
30
|
|
|
32
|
|
|
33
|
|
|
34
|
|
|
40
|
|
|
44
|
|
|
45
|
|
|
59
|
|
|
72
|
|
|
93
|
|
|
3Q’21
|
Margin
%
|
3Q’20
|
Margin
%
|
Change
%
|
|
Net sales
|
26,127.9
|
100.0
|
23,943.0
|
100.0
|
9.1
|
|
Net income
|
1,067.7
|
4.1
|
3,639.6
|
15.2
|
(70.7)
|
|
Net income attributable to stockholders of the Company
|
760.6
|
2.9
|
3,349.7
|
14.0
|
(77.3)
|
|
Segment net sales
|
28,044.9
|
100.0
|
25,821.7
|
100.0
|
8.6
|
|
Operating segment income (1)
|
10,969.0
|
39.1
|
10,531.4
|
40.8
|
4.2
|
| (1) The operating segment income margin is calculated as a percentage of segment net sales. |
|
•
|
COVID-19 Pandemic may have a material adverse effect on our business, financial position and results of operations.
|
|
•
|
We cannot predict what effects the COVID-19 relief plan recently announced by the Mexican Federal Government will have in our results of operations and
the overall economy.
|
|
•
|
Imposition of fines by regulators and other authorities could adversely affect our financial condition and results of operations
|
|
•
|
Social Security Law
|
|
•
|
Federal Labor Law
|
|
•
|
Mexican tax laws
|
|
•
|
Regulations of the General Health Law on advertising
|
|
•
|
Changes in U.S. tax law
|
|
•
|
Mexican Securities Market Law
|
|
•
|
Renewal or revocation of our concessions
|
|
•
|
Control of a stockholder
|
|
•
|
Measures for the prevention of the taking of control
|
|
•
|
Competition
|
|
•
|
Seasonal nature of our business
|
|
•
|
Loss of transmission or loss of the use of satellite transponders
|
|
•
|
Incidents affecting our network and information systems or other technologies
|
|
•
|
Weaknesses in internal controls over financial reporting
|
|
•
|
Results of operations of UHI
|
|
•
|
Uncertainty in global financial markets
|
|
•
|
Currency fluctuations or the devaluation and depreciation of the Mexican peso
|
|
•
|
Renegotiation of the Trade Agreements or other changes in foreign policy by the new or currency presidential administration in the United States
|
|
•
|
Inflation Rates and High Interest Rates in Mexico
|
|
•
|
Political events in Mexico
|
|
Net Sales
|
3Q’21
|
%
|
3Q’20
|
%
|
Change
%
|
|
Cable
|
12,066.6
|
43.0
|
11,407.9
|
44.2
|
5.8
|
|
Sky
|
5,459.4
|
19.5
|
5,597.9
|
21.7
|
(2.5)
|
|
Content
|
9,109.8
|
32.5
|
8,033.4
|
31.1
|
13.4
|
|
Other Businesses
|
1,409.1
|
5.0
|
782.5
|
3.0
|
80.1
|
|
Segment Net Sales
|
28,044.9
|
100.0
|
25,821.7
|
100.0
|
8.6
|
|
Intersegment Operations1
|
(1,917.0)
|
(1,878.7)
|
|||
|
Net Sales
|
26,127.9
|
|
23,943.0
|
|
9.1
|
|
Operating Segment Income2
|
3Q’21
|
Margin
%
|
3Q’20
|
Margin
%
|
Change
%
|
|
Cable
|
5,064.5
|
42.0
|
4,796.7
|
42.0
|
5.6
|
|
Sky
|
2,261.7
|
41.4
|
2,436.7
|
43.5
|
(7.2)
|
|
Content
|
3,389.6
|
37.2
|
3,294.7
|
41.0
|
2.9
|
|
Other Businesses
|
253.2
|
18.0
|
3.3
|
0.4
|
n/a
|
|
Operating Segment Income
|
10,969.0
|
39.1
|
10,531.4
|
40.8
|
4.2
|
|
Corporate Expenses
|
(480.7)
|
(1.7)
|
(374.9)
|
(1.5)
|
28.2
|
|
Depreciation and Amortization
|
(5,347.8)
|
(20.5)
|
(5,235.9)
|
(21.9)
|
2.1
|
|
Other (Expense) Income, net
|
(293.7)
|
(1.1)
|
666.0
|
2.8
|
n/a
|
|
Intersegment Operations
|
(15.6)
|
(0.1)
|
(17.5)
|
(0.1)
|
(10.9)
|
|
Operating Income
|
4,831.2
|
18.5
|
5,569.1
|
23.3
|
(13.2)
|
| 1 For segment reporting purposes,
intersegment operations are included in each of the segment operations
.2 Operating segment income is defined as operating income before depreciation and amortization, corporate expenses and other (expense) income, net.
|
|||||
|
RGUs
|
3Q’21 Net
Adds
|
3Q’21
|
3Q’20
|
|
Video
|
(59,067)
|
4,155,529
|
4,333,908
|
|
Broadband
|
24,595
|
5,590,783
|
5,303,245
|
|
Voice
|
68,300
|
4,485,738
|
4,187,264
|
|
Mobile
|
18,202
|
138,979
|
40,114
|
|
Total RGUs
|
52,030
|
14,371,029
|
13,864,531
|
|
MSO Operations (1)
Millions of Mexican pesos
|
3Q’21
|
3Q’20
|
Change %
|
|
Revenue
|
10,823.0
|
10,227.4
|
5.8
|
|
Operating Segment Income
|
4,583.4
|
4,323.1
|
6.0
|
|
Margin (%)
|
42.3
|
42.3
|
|
|
Enterprise Operations (1)
Millions of Mexican pesos
|
3Q’21
|
3Q’20
|
Change %
|
|
Revenue
|
1,744.4
|
1,734.0
|
0.6
|
|
Operating Segment Income
|
629.9
|
611.3
|
3.0
|
|
Margin (%)
|
36.1
|
35.3
|
|
|
(1)
|
These results do not include consolidation adjustments of Ps.500.8 million in revenues nor Ps.148.8 million in operating segment
income for the third-quarter of 2021, neither the consolidation adjustments of Ps.553.5 million in revenues nor Ps.137.7 million in operating segment income for the third-quarter of 2020. Consolidation adjustments are considered in
the consolidated results of the Cable segment.
|
|
RGUs
|
3Q’21 Net
Adds
|
3Q’21
|
3Q’20
|
|
Video
|
(1,598)
|
7,488,278
|
7,472,350
|
|
Broadband
|
15,366
|
722,481
|
594,011
|
|
Voice
|
(36)
|
649
|
837
|
|
Mobile
|
13,023
|
27,555
|
--
|
|
Total RGUs
|
26,755
|
8,238,963
|
8,067,198
|
|
Millions of Mexican pesos
|
3Q’21
|
%
|
3Q’20
|
%
|
Change %
|
|
Advertising
|
4,823.8
|
53.0
|
4,164.4
|
51.8
|
15.8
|
|
Network Subscription
|
1,323.9
|
14.5
|
1,331.7
|
16.6
|
(0.6)
|
|
Licensing and Syndication
|
2,962.1
|
32.5
|
2,537.3
|
31.6
|
16.7
|
|
Net Sales
|
9,109.8
|
|
8,033.4
|
|
13.4
|
|
Other (Expense) Income, net
|
3Q’21
|
3Q’20
|
|
Cash
|
(379.1)
|
786.2
|
|
Non-cash
|
85.4
|
(120.2)
|
|
Total
|
(293.7)
|
666.0
|
|
3Q’21
|
3Q’20
|
Favorable
(Unfavorable)
Change
|
|
|
Interest expense
|
(2,274.1)
|
(2,788.9)
|
514.8
|
|
Interest income
|
186.0
|
275.3
|
(89.3)
|
|
Foreign exchange (loss) gain, net
|
(2,560.0)
|
3,077.8
|
(5,637.8)
|
|
Other finance expense, net
|
(244.3)
|
(254.6)
|
10.3
|
|
Finance (expense) income, net
|
(4,892.4)
|
309.6
|
(5,202.0)
|
|
I.
|
a Ps.5,637.8 million unfavorable change in foreign exchange gain or loss, net, resulting primarily from a 3.7% depreciation of the Mexican peso against
the U.S. dollar on a higher average net U.S. dollar liability position in the third quarter of 2021, in comparison to a 4.0% appreciation in the third quarter of 2020; and
|
|
II.
|
a Ps.89.3 million decrease in interest income, explained primarily by a lower average of cash and cash equivalents in the third quarter of 2021.
|
|
I.
|
a Ps.514.8 million decrease in interest expense, primarily by a lower average of principal amount of debt in the third quarter of 2021; and
|
|
II.
|
a Ps.10.3 million decrease in other finance expense, net, resulting primarily from a lower loss in fair value of our derivative contracts in the third
quarter of 2021.
|
|
Capital Expenditures
Millions of U.S. Dollars
|
3Q’21
|
3Q’20
|
|
Cable
|
274.0
|
172.6
|
|
Sky
|
63.3
|
64.9
|
|
Content and Other Businesses
|
25.3
|
13.8
|
|
Total
|
362.6
|
251.3
|
|
September
30, 2021
|
December 31, 2020
|
Increase
(decrease)
|
|
|
Current portion of long-term debt
|
2,045.6
|
617.0
|
1,428.6
|
|
Long-term debt, net of current portion
|
123,389.1
|
121,936.0
|
1,453.1
|
|
Total debt 1
|
125,434.7
|
122,553.0
|
2,881.7
|
|
Current portion of long-term lease liabilities
|
1,341.5
|
1,277.7
|
63.8
|
|
Long-term lease liabilities, net of current portion
|
7,867.0
|
8,014.6
|
(147.6)
|
|
Total lease liabilities
|
9,208.5
|
9,292.3
|
(83.8)
|
|
Total debt and lease liabilities
|
134,643.2
|
131,845.3
|
2,797.9
|
|
(1)
|
As of September 30, 2021 and December 31, 2020, total debt is presented net of finance costs in the amount of Ps.1,236.4 million and
Ps.1,324.3 million, respectively.
|
|
|
3Q’21
|
Margin
%
|
3Q’20
|
Margin
%
|
Change
%
|
|
Net sales
|
26,127.9
|
100.0
|
23,943.0
|
100.0
|
9.1
|
|
Net income
|
1,067.7
|
4.1
|
3,639.6
|
15.2
|
(70.7)
|
|
Net income attributable to stockholders of the Company
|
760.6
|
2.9
|
3,349.7
|
14.0
|
(77.3)
|
|
Segment net sales
|
28,044.9
|
100.0
|
25,821.7
|
100.0
|
8.6
|
|
Operating segment income (1)
|
10,969.0
|
39.1
|
10,531.4
|
40.8
|
4.2
|
|
(1)
|
The operating segment income margin is calculated as a percentage of segment net sales.
|
|
Net Sales
|
3Q’21
|
%
|
3Q’20
|
%
|
Change
%
|
|
Cable
|
12,066.6
|
43.0
|
11,407.9
|
44.2
|
5.8
|
|
Sky
|
5,459.4
|
19.5
|
5,597.9
|
21.7
|
(2.5)
|
|
Content
|
9,109.8
|
32.5
|
8,033.4
|
31.1
|
13.4
|
|
Other Businesses
|
1,409.1
|
5.0
|
782.5
|
3.0
|
80.1
|
|
Segment Net Sales
|
28,044.9
|
100.0
|
25,821.7
|
100.0
|
8.6
|
|
Intersegment Operations1
|
(1,917.0)
|
(1,878.7)
|
|||
|
Net Sales
|
26,127.9
|
|
23,943.0
|
|
9.1
|
|
Operating Segment Income2
|
3Q’21
|
Margin
%
|
3Q’20
|
Margin
%
|
Change
%
|
|
Cable
|
5,064.5
|
42.0
|
4,796.7
|
42.0
|
5.6
|
|
Sky
|
2,261.7
|
41.4
|
2,436.7
|
43.5
|
(7.2)
|
|
Content
|
3,389.6
|
37.2
|
3,294.7
|
41.0
|
2.9
|
|
Other Businesses
|
253.2
|
18.0
|
3.3
|
0.4
|
n/a
|
|
Operating Segment Income
|
10,969.0
|
39.1
|
10,531.4
|
40.8
|
4.2
|
|
Corporate Expenses
|
(480.7)
|
(1.7)
|
(374.9)
|
(1.5)
|
28.2
|
|
Depreciation and Amortization
|
(5,347.8)
|
(20.5)
|
(5,235.9)
|
(21.9)
|
2.1
|
|
Other (Expense) Income, net
|
(293.7)
|
(1.1)
|
666.0
|
2.8
|
n/a
|
|
Intersegment Operations
|
(15.6)
|
(0.1)
|
(17.5)
|
(0.1)
|
(10.9)
|
|
Operating Income
|
4,831.2
|
18.5
|
5,569.1
|
23.3
|
(13.2)
|
|
1
|
For segment reporting purposes, intersegment operations are included in each of the segment operations.
|
|
2
|
Operating segment income is defined as operating income before depreciation and amortization, corporate expenses and other (expense) income, net.
|
|
Ticker:
|
TLEVISA
|
|
|
|
|
Period covered by financial statements:
|
2021-01-01 TO 2021-09-30
|
|
|
|
|
Date of end of reporting period:
|
2021-09-30
|
|
|
|
|
Name of reporting entity or other means of identification:
|
TLEVISA
|
|
|
|
|
Description of presentation currency:
|
MXN
|
|
|
|
|
Level of rounding used in financial statements:
|
THOUSANDS OF MEXICAN PESOS
|
|
|
|
|
Consolidated:
|
YES
|
|
|
|
|
Number of quarter:
|
3
|
|
|
|
|
Type of issuer:
|
ICS
|
|
|
|
|
Explanation of change in name of reporting entity or other means of identification from end of preceding reporting period:
|
|
|
|
|
|
Description of nature of financial statements:
|
|
|
|
|
|
Concept
|
Close Current Quarter
2021-09-30
|
Close Previous Exercise
2020-12-31
|
|
Statement of financial position
|
||
|
Assets
|
||
|
Current assets
|
||
|
Cash and cash equivalents
|
21,704,782,000
|
29,058,093,000
|
|
Trade and other current receivables
|
29,495,541,000
|
25,312,941,000
|
|
Current tax assets, current
|
6,534,890,000
|
5,054,080,000
|
|
Other current financial assets
|
9,722,000
|
0
|
|
Current inventories
|
2,272,028,000
|
1,641,300,000
|
|
Current biological assets
|
0
|
0
|
|
Other current non-financial assets
|
7,994,661,000
|
|
|
Total current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
68,946,636,000
|
69,061,075,000
|
|
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
503,375,000
|
0
|
|
Total current assets
|
69,450,011,000
|
69,061,075,000
|
|
Non-current assets
|
||
|
Trade and other non-current receivables
|
0
|
0
|
|
Current tax assets, non-current
|
0
|
0
|
|
Non-current inventories
|
0
|
0
|
|
Non-current biological assets
|
0
|
0
|
|
Other non-current financial assets
|
7,721,612,000
|
7,002,712,000
|
|
Investments accounted for using equity method
|
0
|
0
|
|
Investments in subsidiaries, joint ventures and associates
|
25,374,799,000
|
22,813,531,000
|
|
Property, plant and equipment
|
87,078,758,000
|
83,281,627,000
|
|
Investment property
|
0
|
0
|
|
Right-of-use assets that do not meet definition of investment property
|
7,122,599,000
|
7,212,165,000
|
|
Goodwill
|
14,113,626,000
|
14,113,626,000
|
|
Intangible assets other than goodwill
|
28,554,250,000
|
28,610,592,000
|
|
Deferred tax assets
|
31,410,260,000
|
27,999,693,000
|
|
Other non-current non-financial assets
|
11,151,311,000
|
|
|
Total non-current assets
|
216,151,569,000
|
202,185,257,000
|
|
Total assets
|
285,601,580,000
|
271,246,332,000
|
|
Equity and liabilities
|
||
|
Liabilities
|
||
|
Current liabilities
|
||
|
Trade and other current payables
|
44,338,508,000
|
35,846,673,000
|
|
Current tax liabilities, current
|
1,488,360,000
|
2,013,648,000
|
|
Other current financial liabilities
|
4,388,359,000
|
4,568,599,000
|
|
Current lease liabilities
|
1,341,455,000
|
1,277,754,000
|
|
Other current non-financial liabilities
|
0
|
0
|
|
Current provisions
|
||
|
Current provisions for employee benefits
|
0
|
0
|
|
Other current provisions
|
1,136,000
|
2,992,000
|
|
Total current provisions
|
1,136,000
|
2,992,000
|
|
Total current liabilities other than liabilities included in disposal groups classified as held for sale
|
51,557,818,000
|
43,709,666,000
|
|
Liabilities included in disposal groups classified as held for sale
|
0
|
0
|
|
Total current liabilities
|
51,557,818,000
|
43,709,666,000
|
|
Non-current liabilities
|
||
|
Trade and other non-current payables
|
2,893,242,000
|
2,588,580,000
|
|
Current tax liabilities, non-current
|
129,776,000
|
767,115,000
|
|
Concept
|
Close Current Quarter
2021-09-30
|
Close Previous Exercise
2020-12-31
|
|
Other non-current financial liabilities
|
123,545,104,000
|
123,395,251,000
|
|
Non-current lease liabilities
|
7,867,026,000
|
8,014,597,000
|
|
Other non-current non-financial liabilities
|
0
|
0
|
|
Non-current provisions
|
||
|
Non-current provisions for employee benefits
|
2,199,269,000
|
2,080,651,000
|
|
Other non-current provisions
|
996,708,000
|
965,128,000
|
|
Total non-current provisions
|
3,195,977,000
|
3,045,779,000
|
|
Deferred tax liabilities
|
3,006,027,000
|
1,786,311,000
|
|
Total non-current liabilities
|
140,637,152,000
|
139,597,633,000
|
|
Total liabilities
|
192,194,970,000
|
183,307,299,000
|
|
Equity
|
||
|
Issued capital
|
4,836,708,000
|
4,907,765,000
|
|
Share premium
|
15,889,819,000
|
15,889,819,000
|
|
Treasury shares
|
14,567,312,000
|
16,079,124,000
|
|
Retained earnings
|
84,831,042,000
|
84,280,397,000
|
|
Other reserves
|
(12,597,864,000)
|
(15,556,848,000)
|
|
Total equity attributable to owners of parent
|
78,392,393,000
|
73,442,009,000
|
|
Non-controlling interests
|
15,014,217,000
|
14,497,024,000
|
|
Total equity
|
93,406,610,000
|
87,939,033,000
|
|
Total equity and liabilities
|
285,601,580,000
|
271,246,332,000
|
|
Concept
|
Accumulated Current Year
2021-01-01 - 2021-09-30
|
Accumulated Previous Year
2020-01-01 - 2020-09-30
|
Quarter Current Year
2021-07-01 - 2021-09-30
|
Quarter Previous Year
2020-07-01 - 2020-09-30
|
|
Profit or loss
|
||||
|
Profit (loss)
|
||||
|
Revenue
|
74,709,998,000
|
69,578,973,000
|
26,127,867,000
|
23,943,027,000
|
|
Cost of sales
|
43,788,045,000
|
41,550,840,000
|
15,358,168,000
|
13,871,001,000
|
|
Gross profit
|
30,921,953,000
|
28,028,133,000
|
10,769,699,000
|
10,072,026,000
|
|
Distribution costs
|
7,736,945,000
|
7,568,635,000
|
2,642,442,000
|
2,312,266,000
|
|
Administrative expenses
|
9,982,164,000
|
9,427,991,000
|
3,002,365,000
|
2,856,685,000
|
|
Other income
|
0
|
657,361,000
|
0
|
665,952,000
|
|
Other expense
|
845,511,000
|
0
|
293,662,000
|
0
|
|
Profit (loss) from operating activities
|
12,357,333,000
|
11,688,868,000
|
4,831,230,000
|
5,569,027,000
|
|
Finance income
|
573,090,000
|
2,887,674,000
|
186,032,000
|
3,353,064,000
|
|
Finance costs
|
10,140,380,000
|
11,374,545,000
|
5,078,375,000
|
3,043,447,000
|
|
Share of profit (loss) of associates and joint ventures accounted for using equity method
|
2,181,266,000
|
(5,330,861,000)
|
1,240,248,000
|
(119,824,000)
|
|
Profit (loss) before tax
|
4,971,309,000
|
(2,128,864,000)
|
1,179,135,000
|
5,758,820,000
|
|
Tax income (expense)
|
1,807,913,000
|
1,145,785,000
|
111,462,000
|
2,119,142,000
|
|
Profit (loss) from continuing operations
|
3,163,396,000
|
(3,274,649,000)
|
1,067,673,000
|
3,639,678,000
|
|
Profit (loss) from discontinued operations
|
0
|
0
|
0
|
0
|
|
Profit (loss)
|
3,163,396,000
|
(3,274,649,000)
|
1,067,673,000
|
3,639,678,000
|
|
Profit (loss), attributable to
|
||||
|
Profit (loss), attributable to owners of parent
|
2,357,890,000
|
(4,562,651,000)
|
760,604,000
|
3,349,750,000
|
|
Profit (loss), attributable to non-controlling interests
|
805,506,000
|
1,288,002,000
|
307,069,000
|
289,928,000
|
|
Earnings per share
|
||||
|
Earnings per share
|
||||
|
Earnings per share
|
||||
|
Basic earnings per share
|
||||
|
Basic earnings (loss) per share from continuing operations
|
0.85
|
(1.61)
|
0.28
|
1.17
|
|
Basic earnings (loss) per share from discontinued operations
|
0
|
0
|
0
|
0
|
|
Total basic earnings (loss) per share
|
(1.61)
|
0.28
|
1.17
|
|
|
Diluted earnings per share
|
||||
|
Diluted earnings (loss) per share from continuing operations
|
0.79
|
(1.51)
|
0.26
|
1.11
|
|
Diluted earnings (loss) per share from discontinued operations
|
0
|
0
|
0
|
0
|
|
Total diluted earnings (loss) per share
|
(1.51)
|
0.26
|
1.11
|
|
Concept
|
Accumulated Current Year
2021-01-01 - 2021-09-30
|
Accumulated Previous Year
2020-01-01 - 2020-09-30
|
Quarter Current Year
2021-07-01 - 2021-09-30
|
Quarter Previous Year
2020-07-01 - 2020-09-30
|
|
Statement of comprehensive income
|
||||
|
Profit (loss)
|
3,163,396,000
|
(3,274,649,000)
|
1,067,673,000
|
3,639,678,000
|
|
Other comprehensive income
|
||||
|
Components of other comprehensive income that will not be reclassified to profit or loss, net of tax
|
||||
|
Other comprehensive income, net of tax, gains (losses) from investments in equity instruments
|
1,301,755,000
|
(17,057,300,000)
|
1,257,233,000
|
(235,212,000)
|
|
Other comprehensive income, net of tax, gains (losses) on revaluation
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, gains (losses) on hedging instruments that hedge investments in equity instruments
|
0
|
0
|
0
|
0
|
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will not be reclassified to profit or loss, net
of tax
|
0
|
0
|
0
|
0
|
|
Total other comprehensive income that will not be reclassified to profit or loss, net of tax
|
1,301,755,000
|
(17,057,300,000)
|
1,257,233,000
|
(235,212,000)
|
|
Components of other comprehensive income that will be reclassified to profit or loss, net of tax
|
||||
|
Exchange differences on translation
|
||||
|
Gains (losses) on exchange differences on translation, net of tax
|
405,203,000
|
1,185,106,000
|
376,300,000
|
(199,259,000)
|
|
Reclassification adjustments on exchange differences on translation, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, exchange differences on translation
|
405,203,000
|
1,185,106,000
|
376,300,000
|
(199,259,000)
|
|
Available-for-sale financial assets
|
||||
|
Gains (losses) on remeasuring available-for-sale financial assets, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on available-for-sale financial assets, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, available-for-sale financial assets
|
0
|
0
|
0
|
0
|
|
Cash flow hedges
|
||||
|
Gains (losses) on cash flow hedges, net of tax
|
1,136,997,000
|
(614,151,000)
|
304,153,000
|
(185,170,000)
|
|
Reclassification adjustments on cash flow hedges, net of tax
|
0
|
0
|
0
|
0
|
|
Amounts removed from equity and included in carrying amount of non-financial asset (liability) whose acquisition or incurrence was hedged highly probable
forecast transaction, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, cash flow hedges
|
1,136,997,000
|
(614,151,000)
|
304,153,000
|
(185,170,000)
|
|
Hedges of net investment in foreign operations
|
||||
|
Gains (losses) on hedges of net investments in foreign operations, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on hedges of net investments in foreign operations, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, hedges of net investments in foreign operations
|
0
|
0
|
0
|
0
|
|
Change in value of time value of options
|
|
Concept
|
Accumulated Current Year
2021-01-01 - 2021-09-30
|
Accumulated Previous Year
2020-01-01 - 2020-09-30
|
Quarter Current Year
2021-07-01 - 2021-09-30
|
Quarter Previous Year
2020-07-01 - 2020-09-30
|
|
Gains (losses) on change in value of time value of options, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on change in value of time value of options, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, change in value of time value of options
|
0
|
0
|
0
|
0
|
|
Change in value of forward elements of forward contracts
|
||||
|
Gains (losses) on change in value of forward elements of forward contracts, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on change in value of forward elements of forward contracts, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, change in value of forward elements of forward contracts
|
0
|
0
|
0
|
0
|
|
Change in value of foreign currency basis spreads
|
||||
|
Gains (losses) on change in value of foreign currency basis spreads, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on change in value of foreign currency basis spreads, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, change in value of foreign currency basis spreads
|
0
|
0
|
0
|
0
|
|
Financial assets measured at fair value through other comprehensive income
|
||||
|
Gains (losses) on financial assets measured at fair value through other comprehensive income, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on financial assets measured at fair value through other comprehensive income, net of tax
|
0
|
0
|
0
|
0
|
|
Amounts removed from equity and adjusted against fair value of financial assets on reclassification out of fair value through other comprehensive income
measurement category, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, financial assets measured at fair value through other comprehensive income
|
0
|
0
|
0
|
0
|
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of
tax
|
139,156,000
|
(95,893,000)
|
46,509,000
|
156,000
|
|
Total other comprehensive income that will be reclassified to profit or loss, net of tax
|
1,681,356,000
|
475,062,000
|
726,962,000
|
(384,273,000)
|
|
Total other comprehensive income
|
2,983,111,000
|
(16,582,238,000)
|
1,984,195,000
|
(619,485,000)
|
|
Total comprehensive income
|
6,146,507,000
|
(19,856,887,000)
|
3,051,868,000
|
3,020,193,000
|
|
Comprehensive income attributable to
|
||||
|
Comprehensive income, attributable to owners of parent
|
5,316,874,000
|
(21,269,144,000)
|
2,724,913,000
|
2,768,926,000
|
|
Comprehensive income, attributable to non-controlling interests
|
829,633,000
|
1,412,257,000
|
326,955,000
|
251,267,000
|
|
Concept
|
Accumulated Current Year
2021-01-01 - 2021-09-30
|
Accumulated Previous Year
2020-01-01 - 2020-09-30
|
|
Statement of cash flows
|
||
|
Cash flows from (used in) operating activities
|
||
|
Profit (loss)
|
3,163,396,000
|
(3,274,649,000)
|
|
Adjustments to reconcile profit (loss)
|
||
|
+ Discontinued operations
|
0
|
0
|
|
+ Adjustments for income tax expense
|
1,807,913,000
|
1,145,785,000
|
|
+ (-) Adjustments for finance costs
|
0
|
0
|
|
+ Adjustments for depreciation and amortisation expense
|
15,741,813,000
|
15,621,499,000
|
|
+ Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss
|
18,400,000
|
27,202,000
|
|
+ Adjustments for provisions
|
1,213,020,000
|
1,070,663,000
|
|
+ (-) Adjustments for unrealised foreign exchange losses (gains)
|
1,895,620,000
|
4,939,928,000
|
|
+ Adjustments for share-based payments
|
800,402,000
|
580,718,000
|
|
+ (-) Adjustments for fair value losses (gains)
|
965,263,000
|
(1,936,686,000)
|
|
- Adjustments for undistributed profits of associates
|
0
|
0
|
|
+ (-) Adjustments for losses (gains) on disposal of non-current assets
|
(11,568,000)
|
(34,895,000)
|
|
+ Share of income of associates and joint ventures
|
(2,181,266,000)
|
5,330,861,000
|
|
+ (-) Adjustments for decrease (increase) in inventories
|
(4,575,108,000)
|
(2,001,382,000)
|
|
+ (-) Adjustments for decrease (increase) in trade accounts receivable
|
(4,034,252,000)
|
(4,370,465,000)
|
|
+ (-) Adjustments for decrease (increase) in other operating receivables
|
(1,867,495,000)
|
(2,084,620,000)
|
|
+ (-) Adjustments for increase (decrease) in trade accounts payable
|
1,143,376,000
|
5,813,252,000
|
|
+ (-) Adjustments for increase (decrease) in other operating payables
|
7,518,524,000
|
6,541,591,000
|
|
+ Other adjustments for non-cash items
|
0
|
0
|
|
+ Other adjustments for which cash effects are investing or financing cash flow
|
0
|
(933,506,000)
|
|
+ Straight-line rent adjustment
|
0
|
0
|
|
+ Amortization of lease fees
|
0
|
0
|
|
+ Setting property values
|
0
|
0
|
|
+ (-) Other adjustments to reconcile profit (loss)
|
260,263,000
|
294,395,000
|
|
+ (-) Total adjustments to reconcile profit (loss)
|
18,694,905,000
|
30,004,340,000
|
|
Net cash flows from (used in) operations
|
21,858,301,000
|
26,729,691,000
|
|
- Dividends paid
|
0
|
0
|
|
+ Dividends received
|
0
|
0
|
|
- Interest paid
|
(6,782,675,000)
|
(7,726,187,000)
|
|
+ Interest received
|
(44,818,000)
|
(62,092,000)
|
|
+ (-) Income taxes refund (paid)
|
7,456,848,000
|
7,639,482,000
|
|
+ (-) Other inflows (outflows) of cash
|
0
|
0
|
|
Net cash flows from (used in) operating activities
|
21,139,310,000
|
26,754,304,000
|
|
Cash flows from (used in) investing activities
|
||
|
+ Cash flows from losing control of subsidiaries or other businesses
|
10,000,000
|
0
|
|
- Cash flows used in obtaining control of subsidiaries or other businesses
|
0
|
0
|
|
+ Other cash receipts from sales of equity or debt instruments of other entities
|
0
|
0
|
|
- Other cash payments to acquire equity or debt instruments of other entities
|
0
|
0
|
|
+ Other cash receipts from sales of interests in joint ventures
|
0
|
0
|
|
- Other cash payments to acquire interests in joint ventures
|
0
|
0
|
|
+ Proceeds from sales of property, plant and equipment
|
1,092,079,000
|
866,397,000
|
|
- Purchase of property, plant and equipment
|
18,467,093,000
|
14,702,698,000
|
|
+ Proceeds from sales of intangible assets
|
0
|
0
|
|
- Purchase of intangible assets
|
1,498,200,000
|
914,700,000
|
|
+ Proceeds from sales of other long-term assets
|
0
|
0
|
|
- Purchase of other long-term assets
|
0
|
0
|
|
Concept
|
Accumulated Current Year
2021-01-01 - 2021-09-30
|
Accumulated Previous Year
2020-01-01 - 2020-09-30
|
|
+ Proceeds from government grants
|
0
|
0
|
|
- Cash advances and loans made to other parties
|
0
|
0
|
|
+ Cash receipts from repayment of advances and loans made to other parties
|
0
|
0
|
|
- Cash payments for futures contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
|
+ Cash receipts from futures contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
|
+ Dividends received
|
0
|
285,669,000
|
|
- Interest paid
|
0
|
0
|
|
+ Interest received
|
0
|
0
|
|
+ (-) Income taxes refund (paid)
|
0
|
0
|
|
+ (-) Other inflows (outflows) of cash
|
1,337,948,000
|
2,678,030,000
|
|
Net cash flows from (used in) investing activities
|
(17,525,266,000)
|
(11,787,302,000)
|
|
Cash flows from (used in) financing activities
|
||
|
+ Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control
|
0
|
0
|
|
- Payments from changes in ownership interests in subsidiaries that do not result in loss of control
|
0
|
1,324,063,000
|
|
+ Proceeds from issuing shares
|
0
|
0
|
|
+ Proceeds from issuing other equity instruments
|
0
|
0
|
|
- Payments to acquire or redeem entity's shares
|
113,500,000
|
195,597,000
|
|
- Payments of other equity instruments
|
0
|
0
|
|
+ Proceeds from borrowings
|
0
|
14,770,695,000
|
|
- Repayments of borrowings
|
181,782,000
|
3,181,867,000
|
|
- Payments of finance lease liabilities
|
476,901,000
|
470,009,000
|
|
- Payments of lease liabilities
|
581,148,000
|
717,984,000
|
|
+ Proceeds from government grants
|
0
|
0
|
|
- Dividends paid
|
1,053,392,000
|
0
|
|
- Interest paid
|
6,035,000,000
|
6,867,123,000
|
|
+ (-) Income taxes refund (paid)
|
0
|
0
|
|
+ (-) Other inflows (outflows) of cash
|
(2,557,200,000)
|
221,855,000
|
|
Net cash flows from (used in) financing activities
|
(10,998,923,000)
|
2,235,907,000
|
|
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes
|
(7,384,879,000)
|
17,202,909,000
|
|
Effect of exchange rate changes on cash and cash equivalents
|
||
|
Effect of exchange rate changes on cash and cash equivalents
|
31,568,000
|
197,018,000
|
|
Net increase (decrease) in cash and cash equivalents
|
(7,353,311,000)
|
17,399,927,000
|
|
Cash and cash equivalents at beginning of period
|
29,058,093,000
|
27,452,265,000
|
|
Cash and cash equivalents at end of period
|
21,704,782,000
|
44,852,192,000
|
|
Components of equity
|
|||||||||
|
Sheet 1 of 3
|
Issued capital
|
Share premium
|
Treasury shares
|
Retained earnings
|
Revaluation surplus
|
Reserve of exchange differences on translation
|
Reserve of cash flow hedges
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
Reserve of change in value of time value of options
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
4,907,765,000
|
15,889,819,000
|
16,079,124,000
|
84,280,397,000
|
0
|
1,804,327,000
|
(1,340,854,000)
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
2,357,890,000
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
381,076,000
|
1,136,997,000
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
0
|
2,357,890,000
|
0
|
381,076,000
|
1,136,997,000
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
1,053,392,000
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
(71,057,000)
|
0
|
(1,581,347,000)
|
(1,510,290,000)
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
69,535,000
|
756,437,000
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
(71,057,000)
|
0
|
(1,511,812,000)
|
550,645,000
|
0
|
381,076,000
|
1,136,997,000
|
0
|
0
|
|
Equity at end of period
|
4,836,708,000
|
15,889,819,000
|
14,567,312,000
|
84,831,042,000
|
0
|
2,185,403,000
|
(203,857,000)
|
0
|
0
|
|
Components of equity
|
|||||||||
|
Sheet 2 of 3
|
Reserve of change in value of forward elements of forward contracts
|
Reserve of change in value of foreign currency basis spreads
|
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
Reserve of share-based payments
|
Reserve of remeasurements of defined benefit plans
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal
groups held for sale
|
Reserve of gains and losses from investments in equity instruments
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
0
|
0
|
(14,940,039,000)
|
0
|
0
|
(943,834,000)
|
0
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
1,301,755,000
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
1,301,755,000
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
1,301,755,000
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Equity at end of period
|
0
|
0
|
(13,638,284,000)
|
0
|
0
|
(943,834,000)
|
0
|
0
|
0
|
|
Components of equity
|
||||||||
|
Sheet 3 of 3
|
Reserve for catastrophe
|
Reserve for equalisation
|
Reserve of discretionary participation features
|
Other comprehensive income
|
Other reserves
|
Equity attributable to owners of parent
|
Non-controlling interests
|
Equity
|
|
Statement of changes in equity
|
||||||||
|
Equity at beginning of period
|
0
|
0
|
0
|
(136,448,000)
|
(15,556,848,000)
|
73,442,009,000
|
14,497,024,000
|
87,939,033,000
|
|
Changes in equity
|
||||||||
|
Comprehensive income
|
||||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
2,357,890,000
|
805,506,000
|
3,163,396,000
|
|
Other comprehensive income
|
0
|
0
|
0
|
139,156,000
|
2,958,984,000
|
2,958,984,000
|
24,127,000
|
2,983,111,000
|
|
Total comprehensive income
|
0
|
0
|
0
|
139,156,000
|
2,958,984,000
|
5,316,874,000
|
829,633,000
|
6,146,507,000
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
1,053,392,000
|
328,774,000
|
1,382,166,000
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
16,334,000
|
16,334,000
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
686,902,000
|
0
|
686,902,000
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
0
|
139,156,000
|
2,958,984,000
|
4,950,384,000
|
517,193,000
|
5,467,577,000
|
|
Equity at end of period
|
0
|
0
|
0
|
2,708,000
|
(12,597,864,000)
|
78,392,393,000
|
15,014,217,000
|
93,406,610,000
|
|
Components of equity
|
|||||||||
|
Sheet 1 of 3
|
Issued capital
|
Share premium
|
Treasury shares
|
Retained earnings
|
Revaluation surplus
|
Reserve of exchange differences on translation
|
Reserve of cash flow hedges
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
Reserve of change in value of time value of options
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
4,907,765,000
|
15,889,819,000
|
14,018,847,000
|
82,431,278,000
|
0
|
1,280,541,000
|
(381,753,000)
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
(4,562,651,000)
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
1,060,851,000
|
(614,151,000)
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
0
|
(4,562,651,000)
|
0
|
1,060,851,000
|
(614,151,000)
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
165,750,000
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
(211,745,000)
|
273,376,000
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial
asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
(211,745,000)
|
(4,123,525,000)
|
0
|
1,060,851,000
|
(614,151,000)
|
0
|
0
|
|
Equity at end of period
|
4,907,765,000
|
15,889,819,000
|
13,807,102,000
|
78,307,753,000
|
0
|
2,341,392,000
|
(995,904,000)
|
0
|
0
|
|
Components of equity
|
|||||||||
|
Sheet 2 of 3
|
Reserve of change in value of forward elements of forward contracts
|
Reserve of change in value of foreign currency basis spreads
|
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
Reserve of share-based payments
|
Reserve of remeasurements of defined benefit plans
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal
groups held for sale
|
Reserve of gains and losses from investments in equity instruments
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
0
|
0
|
1,202,689,000
|
0
|
0
|
(705,611,000)
|
0
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
(17,057,300,000)
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
(17,057,300,000)
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial
asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
(17,057,300,000)
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Equity at end of period
|
0
|
0
|
(15,854,611,000)
|
0
|
0
|
(705,611,000)
|
0
|
0
|
0
|
|
Components of equity
|
||||||||
|
Sheet 3 of 3
|
Reserve for catastrophe
|
Reserve for equalisation
|
Reserve of discretionary participation features
|
Other comprehensive income
|
Other reserves
|
Equity attributable to owners of parent
|
Non-controlling interests
|
Equity
|
|
Statement of changes in equity
|
||||||||
|
Equity at beginning of period
|
0
|
0
|
0
|
(75,415,000)
|
1,320,451,000
|
90,530,466,000
|
14,873,767,000
|
105,404,233,000
|
|
Changes in equity
|
||||||||
|
Comprehensive income
|
||||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
(4,562,651,000)
|
1,288,002,000
|
(3,274,649,000)
|
|
Other comprehensive income
|
0
|
0
|
0
|
(95,893,000)
|
(16,706,493,000)
|
(16,706,493,000)
|
124,255,000
|
(16,582,238,000)
|
|
Total comprehensive income
|
0
|
0
|
0
|
(95,893,000)
|
(16,706,493,000)
|
(21,269,144,000)
|
1,412,257,000
|
(19,856,887,000)
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
1,134,808,000
|
1,134,808,000
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
165,750,000
|
0
|
165,750,000
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
(617,070,000)
|
(617,070,000)
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
485,121,000
|
0
|
485,121,000
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment
for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset
(liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of
non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial
asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
0
|
(95,893,000)
|
(16,706,493,000)
|
(20,618,273,000)
|
(339,621,000)
|
(20,957,894,000)
|
|
Equity at end of period
|
0
|
0
|
0
|
(171,308,000)
|
(15,386,042,000)
|
69,912,193,000
|
14,534,146,000
|
84,446,339,000
|
|
Concept
|
Close Current Quarter
2021-09-30
|
Close Previous Exercise
2020-12-31
|
|
Informative data of the Statement of Financial Position
|
||
|
Capital stock (nominal)
|
2,423,549,000
|
2,459,154,000
|
|
Restatement of capital stock
|
2,413,159,000
|
2,448,611,000
|
|
Plan assets for pensions and seniority premiums
|
1,297,507,000
|
1,240,864,000
|
|
Number of executives
|
69
|
72
|
|
Number of employees
|
47,037
|
43,215
|
|
Number of workers
|
0
|
0
|
|
Outstanding shares
|
327,624,918,465
|
325,992,461,925
|
|
Repurchased shares
|
24,509,117,373
|
31,314,809,877
|
|
Restricted cash
|
0
|
0
|
|
Guaranteed debt of associated companies
|
0
|
0
|
|
Concept
|
Accumulated Current Year
2021-01-01 - 2021-09-30
|
Accumulated Previous Year
2020-01-01 - 2020-09-30
|
Quarter Current Year
2021-07-01 - 2021-09-30
|
Quarter Previous Year
2020-07-01 - 2020-09-30
|
|
Informative data of the Income Statement
|
||||
|
Operating depreciation and amortization
|
15,741,813,000
|
15,621,499,000
|
5,347,856,000
|
5,235,918,000
|
|
Concept
|
Current Year
2020-10-01 - 2021-09-30
|
Previous Year
2019-10-01 - 2020-09-30
|
|
Informative data - Income Statement for 12 months
|
||
|
Revenue
|
102,492,659,000
|
97,847,173,000
|
|
Profit (loss) from operating activities
|
18,193,833,000
|
16,517,784,000
|
|
Profit (loss)
|
6,740,869,000
|
(448,005,000)
|
|
Profit (loss), attributable to owners of parent
|
5,670,199,000
|
(2,152,549,000)
|
|
Operating depreciation and amortization
|
21,381,101,000
|
21,013,871,000
|
|
Institution
|
Foreign institution (yes/no)
|
Contract signing date
|
Expiration date
|
Interest rate
|
Denomination
|
|||||||||||
|
Domestic currency
|
Foreign currency
|
|||||||||||||||
|
Time interval
|
Time interval
|
|||||||||||||||
|
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
|||||
|
Banks
|
||||||||||||||||
|
Foreign trade
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Banks - secured
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Commercial banks
|
||||||||||||||||
|
BANORTE1
|
NO
|
2015-05-15
|
2022-04-30
|
TIIE+1.0
|
60,577,000
|
610,036,000
|
||||||||||
|
HSBC 2
|
NO
|
2016-03-08
|
2023-03-08
|
7.13
|
250,000,000
|
625,000,000
|
||||||||||
|
SCOTIABANK INVERLAT 3
|
NO
|
2016-03-08
|
2023-03-08
|
7
|
375,000,000
|
750,000,000
|
750,000,000
|
|||||||||
|
BANCO SANTANDER 4
|
NO
|
2017-11-23
|
2022-11-22
|
TIIE+1.25
|
1,497,900,000
|
|||||||||||
|
HSBC 5
|
NO
|
2017-11-23
|
2022-10-21
|
TIIE+1.30
|
1,997,356,000
|
|||||||||||
|
SCOTIABANK INVERLAT 6
|
NO
|
2017-12-07
|
2023-02-03
|
TIIE+1.30
|
2,495,887,000
|
|||||||||||
|
SYNDICATE 7
|
NO
|
2019-06-05
|
2024-06-28
|
TIIE+1.05
|
9,941,382,000
|
|||||||||||
|
TOTAL
|
435,577,000
|
1,610,036,000
|
7,366,143,000
|
9,941,382,000
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Other banks
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Total banks
|
||||||||||||||||
|
TOTAL
|
435,577,000
|
1,610,036,000
|
7,366,143,000
|
9,941,382,000
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Stock market
|
||||||||||||||||
|
Listed on stock exchange - unsecured
|
||||||||||||||||
|
SENIOR NOTES 1
|
YES
|
2007-05-09
|
2037-05-11
|
8.93
|
4,488,641,000
|
|||||||||||
|
SENIOR NOTES 2
|
YES
|
2013-05-14
|
2043-05-14
|
7.62
|
6,448,685,000
|
|||||||||||
|
NOTES 3
|
NO
|
2017-10-09
|
2027-09-27
|
8.79
|
4,485,648,000
|
|||||||||||
|
SENIOR NOTES 4
|
YES
|
2005-03-18
|
2025-03-18
|
6.97
|
12,236,717,000
|
|||||||||||
|
SENIOR NOTES 5
|
YES
|
2002-03-11
|
2032-03-11
|
8.94
|
6,166,855,000
|
|||||||||||
|
SENIOR NOTES 6
|
YES
|
2009-11-23
|
2040-01-16
|
6.97
|
12,255,093,000
|
|||||||||||
|
SENIOR NOTES 7
|
YES
|
2014-05-13
|
2045-05-15
|
5.26
|
20,217,718,000
|
|||||||||||
|
SENIOR NOTES 8
|
YES
|
2015-11-24
|
2026-01-30
|
4.86
|
6,164,701,000
|
|||||||||||
|
SENIOR NOTES 9
|
YES
|
2015-11-24
|
2046-01-31
|
6.44
|
18,440,506,000
|
|||||||||||
|
SENIOR NOTES 10
|
YES
|
2019-05-21
|
2049-05-24
|
5.52
|
15,177,055,000
|
|||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
15,422,974,000
|
0
|
0
|
0
|
0
|
12,236,717,000
|
|||||
|
Listed on stock exchange - secured
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Private placements - unsecured
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Private placements - secured
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Total listed on stock exchanges and private placements
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
15,422,974,000
|
0
|
0
|
0
|
0
|
12,236,717,000
|
78,421,928,000
|
||||
|
Other current and non-current liabilities with cost
|
||||||||||||||||
|
Other current and non-current liabilities with cost
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Total other current and non-current liabilities with cost
|
||||||||||||||||
|
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Institution
|
Foreign institution (yes/no)
|
Contract signing date
|
Expiration date
|
Interest rate
|
Denomination
|
|||||||||||
|
Domestic currency
|
Foreign currency
|
|||||||||||||||
|
Time interval
|
Time interval
|
|||||||||||||||
|
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
|||||
|
Suppliers
|
||||||||||||||||
|
Suppliers
|
||||||||||||||||
|
SUPPLIERS 1
|
NO
|
2021-09-30
|
2022-09-30
|
14,924,389,000
|
4,877,686,000
|
|||||||||||
|
TRANSMISSION RIGHTS 2
|
NO
|
2020-05-07
|
2029-12-29
|
750,432,000
|
126,108,000
|
567,524,000
|
274,972,000
|
308,144,000
|
0
|
2,485,950,000
|
216,913,000
|
730,720,000
|
411,085,000
|
257,776,000
|
||
|
TOTAL
|
0
|
15,674,821,000
|
126,108,000
|
567,524,000
|
274,972,000
|
308,144,000
|
0
|
7,363,636,000
|
216,913,000
|
730,720,000
|
411,085,000
|
257,776,000
|
||||
|
Total suppliers
|
||||||||||||||||
|
TOTAL
|
0
|
15,674,821,000
|
126,108,000
|
567,524,000
|
274,972,000
|
308,144,000
|
0
|
7,363,636,000
|
216,913,000
|
730,720,000
|
411,085,000
|
257,776,000
|
||||
|
Other current and non-current liabilities
|
||||||||||||||||
|
Other current and non-current liabilities
|
||||||||||||||||
|
DERIVATIVE FINANCIAL INSTRUMENTS 1
|
432,818,000
|
114,336,000
|
41,624,000
|
|||||||||||||
|
TOTAL
|
0
|
432,818,000
|
114,336,000
|
41,624,000
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Total other current and non-current liabilities
|
||||||||||||||||
|
TOTAL
|
0
|
432,818,000
|
114,336,000
|
41,624,000
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
|
Total credits
|
||||||||||||||||
|
TOTAL
|
435,577,000
|
17,717,675,000
|
7,606,587,000
|
10,550,530,000
|
274,972,000
|
15,731,118,000
|
0
|
7,363,636,000
|
216,913,000
|
730,720,000
|
12,647,802,000
|
78,679,704,000
|
||||
|
Currencies
|
|||||
|
Dollars
|
Dollar equivalent in pesos
|
Other currencies equivalent in dollars
|
Other currencies equivalent in pesos
|
Total pesos
|
|
|
Foreign currency position
|
|||||
|
Monetary assets
|
|||||
|
Current monetary assets
|
826,495,000
|
17,040,674,000
|
15,705,000
|
323,806,000
|
17,364,480,000
|
|
Non-current monetary assets
|
0
|
0
|
0
|
0
|
0
|
|
Total monetary assets
|
826,495,000
|
17,040,674,000
|
15,705,000
|
323,806,000
|
17,364,480,000
|
|
Liabilities position
|
|||||
|
Current liabilities
|
484,090,000
|
9,980,968,000
|
1,097,000
|
22,618,000
|
10,003,586,000
|
|
Non-current liabilities
|
4,720,086,000
|
97,318,733,000
|
0
|
0
|
97,318,733,000
|
|
Total liabilities
|
5,204,176,000
|
107,299,701,000
|
1,097,000
|
22,618,000
|
107,322,319,000
|
|
Net monetary assets (liabilities)
|
(4,377,681,000)
|
(90,259,027,000)
|
14,608,000
|
301,188,000
|
|
|
Income type
|
||||
|
National income
|
Export income
|
Income of subsidiaries abroad
|
Total income
|
|
|
CONTENT:
|
||||
|
CONTENT:
|
0
|
0
|
0
|
0
|
|
TELEVISA
|
||||
|
CONTENT - ADVERTISING
|
11,880,273,000
|
178,598,000
|
0
|
12,058,871,000
|
|
CONTENT - NETWORK SUBSCRIPTION REVENUE
|
3,345,948,000
|
652,340,000
|
0
|
3,998,288,000
|
|
CONTENT - LICENSING AND SYNDICATION
|
1,325,855,000
|
6,999,632,000
|
0
|
8,325,487,000
|
|
SKY (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
||||
|
SKY (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
0
|
0
|
0
|
0
|
|
SKY, VETV, BLUE TO GO, BLUE TELECOMM
|
||||
|
SKY - DTH BROADCAST SATELLITE TV
|
14,520,667,000
|
0
|
1,167,568,000
|
15,688,235,000
|
|
SKY - PAY PER VIEW
|
33,518,000
|
0
|
6,502,000
|
40,020,000
|
|
SKY - ADVERTISING
|
926,013,000
|
0
|
0
|
926,013,000
|
|
CABLE (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
||||
|
CABLE (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
0
|
0
|
0
|
0
|
|
IZZI, IZZI GO
|
||||
|
CABLE - DIGITAL TV SERVICE
|
11,946,221,000
|
0
|
0
|
11,946,221,000
|
|
CABLE - BROADBAND SERVICES
|
13,920,622,000
|
0
|
0
|
13,920,622,000
|
|
CABLE - SERVICE INSTALLATION
|
377,542,000
|
0
|
0
|
377,542,000
|
|
CABLE - ADVERTISING
|
1,331,122,000
|
0
|
0
|
1,331,122,000
|
|
CABLE - TELEPHONY
|
3,702,840,000
|
0
|
0
|
3,702,840,000
|
|
CABLE - OTHER INCOME
|
82,920,000
|
0
|
0
|
82,920,000
|
|
BESTEL, METRORED
|
||||
|
CABLE - ENTERPRISE OPERATIONS
|
4,180,418,000
|
0
|
182,999,000
|
4,363,417,000
|
|
OTHER BUSINESSES:
|
||||
|
OTHER BUSINESSES:
|
0
|
0
|
0
|
0
|
|
TV Y NOVELAS, VANIDADES, TU, COSMOPOLITAN, COCINA FÁCIL,CARAS, HARPER´S BAZAR, NATIONAL GEOGRAPHIC, ESQUIRE,MUY INTERESANTE
|
||||
|
PUBLISHING - MAGAZINE CIRCULATION
|
253,880,000
|
0
|
0
|
253,880,000
|
|
PUBLISHING - ADVERTISING
|
92,440,000
|
0
|
0
|
92,440,000
|
|
PUBLISHING - OTHER INCOME
|
3,912,000
|
0
|
0
|
3,912,000
|
|
VIDEOCINE, PANTELION
|
||||
|
DISTRIBUTION, RENTALS AND SALE OF MOVIE RIGHTS
|
596,298,000
|
0
|
64,330,000
|
660,628,000
|
|
CLUB DE FÚTBOL AMÉRICA, ESTADIO AZTECA
|
||||
|
SPECIAL EVENTS AND SHOW PROMOTION
|
1,163,589,000
|
47,463,000
|
0
|
1,211,052,000
|
|
PLAY CITY
|
||||
|
GAMING
|
1,129,924,000
|
0
|
0
|
1,129,924,000
|
|
AMERICAN CARS, VOLKSWAGEN COLLECTION, CASA DE MUÑECAS, GUÍA DE BIENESTAR, SELECCIONES, DC COMICS, MARVEL BÁSICOS
|
||||
|
PUBLISHING DISTRIBUTION
|
229,069,000
|
0
|
0
|
229,069,000
|
|
INTERSEGMENT ELIMINATIONS
|
||||
|
INTERSEGMENT ELIMINATIONS
|
(5,632,505,000)
|
0
|
0
|
(5,632,505,000)
|
|
TOTAL
|
65,410,566,000
|
7,878,033,000
|
1,421,399,000
|
74,709,998,000
|
|
1.
|
Cross-currency interest rate swaps (i.e., coupon swaps);
|
|
2.
|
Interest rate and inflation-indexed swaps;
|
|
3.
|
Cross-currency principal and interest rate swaps;
|
|
4.
|
Swaptions;
|
|
5.
|
Forward exchange rate contracts;
|
|
6.
|
FX options;
|
|
7.
|
Interest Rate Caps and Floors contracts;
|
|
8.
|
Fixed-price contracts for the acquisition of government securities (i.e., Treasury locks); and
|
|
9.
|
Credit Default Swaps.
|
|
1.
|
During the relevant quarter, forwards through which the Company hedged against a possible Mexican Peso depreciation with a notional amount of U.S.
$158,810,000.00 (One hundred fifty eight million eight hundred ten thousand U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $459,168,840.63 (Four hundred fifty nine million one hundred sixty eight thousand
eight hundred forty Mexican pesos 63/100) was incurred in the quarter.
|
|
2.
|
During the relevant quarter, forwards through which Televisión Internacional, S.A. de C.V. hedged against a possible Mexican Peso depreciation with a
notional amount of U.S. $18,935,000.00 (Eighteen million nine hundred thirty five thousand U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $49,723,588.00 (Forty nine million seven hundred twenty three
thousand five hundred eighty eight Mexican pesos 00/100) was incurred in the quarter.
|
|
3.
|
During the relevant quarter, forwards through which Empresas Cablevisión, S.A.B. de C.V. hedged against a possible Mexican Peso depreciation with a
notional amount of U.S. $20,755,000.00 (Twenty million seven hundred fifty five thousand U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $51,271,101.50 (Fifty one million two hundred seventy one thousand one
hundred one Mexican pesos 50/100) was incurred in the quarter.
|
|
4.
|
During the relevant quarter, forwards through which Corporación Novavisión S. de R.L. de C.V. hedged against a possible Mexican Peso depreciation with a
notional amount of U.S. $30,000,000.00 (Thirty million U.S. Dollars 00/100), expired. As a result of this hedge, a loss of MXN $90,146,250.00 (Ninety million one hundred forty six thousand two hundred fifty Mexican pesos 00/100) was
incurred in the quarter.
|
|
Type of Derivative, Securities or Contract
|
Purpose (e.g., hedging, trading or other)
|
Notional Amount/Face Value
|
Value of the Underlying Asset / Reference Variable
|
Fair Value
|
Maturing per Year
|
Collateral/
Lines of Credit/
Securities Pledged
|
||
|
Current Quarter (5)
|
Previous Quarter (6)
|
Current Quarter Dr (Cr) (5)
|
Previous Quarter Dr (Cr) (6)
|
|||||
|
Interest Rate Swap (1)
|
Hedging
|
Ps.2,000,000
|
TIIE 28 days / 7.3275%
|
TIIE 28 days / 7.3275%
|
(30,647)
|
(39,140)
|
Monthly interest
2021-2022
|
Does not exist (7)
|
|
Interest Rate Swap (1)
|
Hedging
|
Ps.1,500,000
|
TIIE 28 days / 7.3500%
|
TIIE 28 days / 7.3500%
|
(24,175)
|
(30,565)
|
Monthly interest
2021-2022
|
Does not exist (7)
|
|
Interest Rate Swap (1)
|
Hedging
|
Ps.2,500,000
|
TIIE 28 days / 7.7485%
|
TIIE 28 days / 7.7485%
|
(59,514)
|
(73,319)
|
Monthly interest
2021-2023
|
Does not exist (7)
|
|
Interest Rate Swap (1)
|
Hedging
|
Ps.10,000,000
|
TIIE 28 days /
6.7620% |
TIIE 28 days /
6.7620% |
(41,624)
|
(118,621)
|
Monthly interest
2021-2024
|
Does not exist (7)
|
|
Interest Rate Swap (1)
|
Hedging
|
Ps.9,385,347
|
TIIE 28 days /
6.0246% |
TIIE 28 days /
6.0246% |
(36,852)
|
(54,511)
|
Monthly interest
2021-2022
|
Does not exist (7)
|
|
Forward (1)
|
Hedging
|
U.S.$67,125/ Ps.1,419,243
|
U.S.$67,125/
Ps.1,419,243 |
U.S.$154,125/
Ps.3,418,645 |
(13,908)
|
(314,874)
|
Semi-annual interest
2021-2022
|
Does not exist (7)
|
|
Forward (1)
|
Hedging
|
U.S.$44,687/ Ps.1,004,151
|
U.S.$44,687/
Ps.1,004,151 |
U.S.$44,687 /
Ps.1,004,151 |
(76,842)
|
(100,808)
|
Semi-annual interest
2021-2021
|
Does not exist (7)
|
|
Forward (1)
|
Hedging
|
U.S.$114,430/ Ps.2,511,224
|
U.S.$114,430/
Ps.2,511,224 |
U.S.$171,240 /
Ps.3,801,428 |
(124,277)
|
(342,158)
|
2021-2022
|
Does not exist (7)
|
|
Forward (1)
|
Hedging
|
-
|
-
|
U.S.$15,000 /
Ps.345,090 |
-
|
(44,519)
|
2021
|
Does not exist (7)
|
|
Interest Rate Swap (2)
|
Hedging
|
Ps.96,300
|
TIIE 28 days /
5.585% |
TIIE 28 days /
5.585% |
(62)
|
(275)
|
Monthly Interest
2021-2022
|
Does not exist (7)
|
|
Interest Rate Swap (2)
|
Hedging
|
Ps.574,726
|
TIIE 28 days /
7.2663% |
TIIE 28 days /
7.2663% |
(5,493)
|
(10,169)
|
Monthly Interest
2021-2022
|
Does not exist (7)
|
|
Forward (2)
|
Hedging
|
U.S.$31,535/
Ps.695,050 |
U.S.$31,535/
Ps.695,050 |
U.S.$50,470 /
Ps.1,127,148 |
(37,784)
|
(107,971)
|
2021-2022
|
Does not exist (7)
|
|
Forward (3)
|
Hedging
|
U.S.$34,575/
Ps.759,383 |
U.S.$34,575/
Ps.759,383 |
U.S.$55,330/
Ps.1,229,779 |
(37,243)
|
(112,806)
|
2021-2022
|
Does not exist (7)
|
|
Forward (4)
|
Hedging
|
U.S.$15,000/
Ps.324,000 |
U.S.$15,000/
Ps.324,000 |
U.S.$45,000 /
Ps.1,012,590 |
(8,425)
|
(108,155)
|
2021-2022
|
Does not exist (7)
|
|
Forward (4)
|
Hedging
|
U.S.$45,000 /
Ps.1,026,352 |
U.S.$45,000 /
Ps.1,026,352 |
U.S.$45,000 /
Ps.1,026,352 |
(91,932)
|
(116,411)
|
2021
|
Does not exist (7)
|
|
Total
|
(588,778)
|
(1,574,302)
|
|
(1)
|
Acquired by Grupo Televisa, S.A.B.
|
|
(2)
|
Acquired by Televisión Internacional, S.A. de C.V.
|
|
(3)
|
Acquired by Empresas Cablevisión, S.A.B. de C.V.
|
|
(4)
|
Acquired by Corporación Novavisión S. de R.L. de C.V.
|
|
(5)
|
The aggregate amount of the derivatives reflected in the consolidated statement of financial position of Grupo Televisa, S.A.B.
as of September 30, 2021, is as follows:
|
|
Other financial liabilities
|
Ps.
|
(432,818
|
)
|
|||
|
Other non-current financial liabilities
|
(155,960
|
)
|
||||
|
Ps.
|
(588,778
|
)
|
|
(6)
|
Information as of June 30, 2021.
|
|
(7)
|
Applies only to implicit financing in the ISDA ancillary agreements identified as “Credit Support Annex”.
|
|
Concept
|
Close Current Quarter
2021-09-30
|
Close Previous Exercise
2020-12-31
|
|
Subclassifications of assets, liabilities and equities
|
||
|
Cash and cash equivalents
|
||
|
Cash
|
||
|
Cash on hand
|
56,106,000
|
1,081,511,000
|
|
Balances with banks
|
14,011,352,000
|
4,013,099,000
|
|
Total cash
|
14,067,458,000
|
5,094,610,000
|
|
Cash equivalents
|
||
|
Short-term deposits, classified as cash equivalents
|
7,637,324,000
|
23,963,483,000
|
|
Short-term investments, classified as cash equivalents
|
0
|
0
|
|
Other banking arrangements, classified as cash equivalents
|
0
|
0
|
|
Total cash equivalents
|
7,637,324,000
|
23,963,483,000
|
|
Other cash and cash equivalents
|
0
|
0
|
|
Total cash and cash equivalents
|
21,704,782,000
|
29,058,093,000
|
|
Trade and other current receivables
|
||
|
Current trade receivables
|
15,414,332,000
|
12,343,797,000
|
|
Current receivables due from related parties
|
683,999,000
|
786,952,000
|
|
Current prepayments
|
||
|
Current advances to suppliers
|
0
|
0
|
|
Current prepaid expenses
|
3,400,168,000
|
3,175,011,000
|
|
Total current prepayments
|
3,400,168,000
|
3,175,011,000
|
|
Current receivables from taxes other than income tax
|
8,444,783,000
|
6,829,294,000
|
|
Current value added tax receivables
|
8,417,395,000
|
6,783,231,000
|
|
Current receivables from sale of properties
|
0
|
0
|
|
Current receivables from rental of properties
|
0
|
0
|
|
Other current receivables
|
1,552,259,000
|
2,177,887,000
|
|
Total trade and other current receivables
|
29,495,541,000
|
25,312,941,000
|
|
Classes of current inventories
|
||
|
Current raw materials and current production supplies
|
||
|
Current raw materials
|
0
|
0
|
|
Current production supplies
|
0
|
0
|
|
Total current raw materials and current production supplies
|
0
|
0
|
|
Current merchandise
|
0
|
0
|
|
Current work in progress
|
0
|
0
|
|
Current finished goods
|
0
|
0
|
|
Current spare parts
|
0
|
0
|
|
Property intended for sale in ordinary course of business
|
0
|
0
|
|
Other current inventories
|
2,272,028,000
|
1,641,300,000
|
|
Total current inventories
|
2,272,028,000
|
1,641,300,000
|
|
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
||
|
Non-current assets or disposal groups classified as held for sale
|
503,375,000
|
0
|
|
Non-current assets or disposal groups classified as held for distribution to owners
|
0
|
0
|
|
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
503,375,000
|
0
|
|
Trade and other non-current receivables
|
||
|
Non-current trade receivables
|
0
|
0
|
|
Non-current receivables due from related parties
|
0
|
0
|
|
Non-current prepayments
|
0
|
0
|
|
Non-current lease prepayments
|
0
|
0
|
|
Non-current receivables from taxes other than income tax
|
0
|
0
|
|
Non-current value added tax receivables
|
0
|
0
|
|
Concept
|
Close Current Quarter
2021-09-30
|
Close Previous Exercise
2020-12-31
|
|
Non-current receivables from sale of properties
|
0
|
0
|
|
Non-current receivables from rental of properties
|
0
|
0
|
|
Revenue for billing
|
0
|
0
|
|
Other non-current receivables
|
0
|
0
|
|
Total trade and other non-current receivables
|
0
|
0
|
|
Investments in subsidiaries, joint ventures and associates
|
||
|
Investments in subsidiaries
|
0
|
0
|
|
Investments in joint ventures
|
766,036,000
|
719,195,000
|
|
Investments in associates
|
24,608,763,000
|
22,094,336,000
|
|
Total investments in subsidiaries, joint ventures and associates
|
25,374,799,000
|
22,813,531,000
|
|
Property, plant and equipment
|
||
|
Land and buildings
|
||
|
Land
|
4,876,161,000
|
4,886,600,000
|
|
Buildings
|
4,575,015,000
|
4,692,553,000
|
|
Total land and buildings
|
9,451,176,000
|
9,579,153,000
|
|
Machinery
|
56,564,103,000
|
56,068,343,000
|
|
Vehicles
|
||
|
Ships
|
0
|
0
|
|
Aircraft
|
511,451,000
|
515,630,000
|
|
Motor vehicles
|
714,091,000
|
575,336,000
|
|
Total vehicles
|
1,225,542,000
|
1,090,966,000
|
|
Fixtures and fittings
|
522,646,000
|
545,329,000
|
|
Office equipment
|
2,139,096,000
|
2,092,070,000
|
|
Tangible exploration and evaluation assets
|
0
|
0
|
|
Mining assets
|
0
|
0
|
|
Oil and gas assets
|
0
|
0
|
|
Construction in progress
|
16,277,235,000
|
12,873,670,000
|
|
Construction prepayments
|
0
|
0
|
|
Other property, plant and equipment
|
898,960,000
|
1,032,096,000
|
|
Total property, plant and equipment
|
87,078,758,000
|
83,281,627,000
|
|
Investment property
|
||
|
Investment property completed
|
0
|
0
|
|
Investment property under construction or development
|
0
|
0
|
|
Investment property prepayments
|
0
|
0
|
|
Total investment property
|
0
|
0
|
|
Intangible assets and goodwill
|
||
|
Intangible assets other than goodwill
|
||
|
Brand names
|
236,928,000
|
291,024,000
|
|
Intangible exploration and evaluation assets
|
0
|
0
|
|
Mastheads and publishing titles
|
0
|
0
|
|
Computer software
|
4,938,468,000
|
4,692,574,000
|
|
Licences and franchises
|
0
|
0
|
|
Copyrights, patents and other industrial property rights, service and operating rights
|
0
|
0
|
|
Recipes, formulae, models, designs and prototypes
|
0
|
0
|
|
Intangible assets under development
|
0
|
0
|
|
Other intangible assets
|
23,378,854,000
|
23,626,994,000
|
|
Total intangible assets other than goodwill
|
28,554,250,000
|
28,610,592,000
|
|
Goodwill
|
14,113,626,000
|
14,113,626,000
|
|
Total intangible assets and goodwill
|
42,667,876,000
|
42,724,218,000
|
|
Trade and other current payables
|
||
|
Current trade payables
|
23,038,457,000
|
21,943,227,000
|
|
Current payables to related parties
|
67,766,000
|
83,007,000
|
|
Accruals and deferred income classified as current
|
||
|
Deferred income classified as current
|
12,723,223,000
|
5,935,858,000
|
|
Concept
|
Close Current Quarter
2021-09-30
|
Close Previous Exercise
2020-12-31
|
|
Rent deferred income classified as current
|
0
|
0
|
|
Accruals classified as current
|
4,397,343,000
|
3,421,245,000
|
|
Short-term employee benefits accruals
|
1,450,818,000
|
1,262,627,000
|
|
Total accruals and deferred income classified as current
|
17,120,566,000
|
9,357,103,000
|
|
Current payables on social security and taxes other than income tax
|
3,613,585,000
|
3,955,859,000
|
|
Current value added tax payables
|
2,954,202,000
|
2,984,239,000
|
|
Current retention payables
|
498,134,000
|
507,477,000
|
|
Other current payables
|
0
|
0
|
|
Total trade and other current payables
|
44,338,508,000
|
35,846,673,000
|
|
Other current financial liabilities
|
||
|
Bank loans current
|
2,045,613,000
|
616,991,000
|
|
Stock market loans current
|
0
|
0
|
|
Other current liabilities at cost
|
0
|
0
|
|
Other current liabilities at no cost
|
432,818,000
|
2,016,952,000
|
|
Other current financial liabilities
|
1,909,928,000
|
1,934,656,000
|
|
Total Other current financial liabilities
|
4,388,359,000
|
4,568,599,000
|
|
Trade and other non-current payables
|
||
|
Non-current trade payables
|
2,893,242,000
|
2,588,580,000
|
|
Non-current payables to related parties
|
0
|
0
|
|
Accruals and deferred income classified as non-current
|
||
|
Deferred income classified as non-current
|
0
|
0
|
|
Rent deferred income classified as non-current
|
0
|
0
|
|
Accruals classified as non-current
|
0
|
0
|
|
Total accruals and deferred income classified as non-current
|
0
|
0
|
|
Non-current payables on social security and taxes other than income tax
|
0
|
0
|
|
Non-current value added tax payables
|
0
|
0
|
|
Non-current retention payables
|
0
|
0
|
|
Other non-current payables
|
0
|
0
|
|
Total trade and other non-current payables
|
2,893,242,000
|
2,588,580,000
|
|
Other non-current financial liabilities
|
||
|
Bank loans non-current
|
17,307,525,000
|
18,896,766,000
|
|
Stock market loans non-current
|
106,081,619,000
|
103,039,214,000
|
|
Other non-current liabilities at cost
|
0
|
0
|
|
Other non-current liabilities at no cost
|
155,960,000
|
1,459,271,000
|
|
Other non-current financial liabilities
|
0
|
0
|
|
Total Other non-current financial liabilities
|
123,545,104,000
|
123,395,251,000
|
|
Other provisions
|
||
|
Other non-current provisions
|
996,708,000
|
965,128,000
|
|
Other current provisions
|
1,136,000
|
2,992,000
|
|
Total other provisions
|
997,844,000
|
968,120,000
|
|
Other reserves
|
||
|
Revaluation surplus
|
0
|
0
|
|
Reserve of exchange differences on translation
|
2,185,403,000
|
1,804,327,000
|
|
Reserve of cash flow hedges
|
(203,857,000)
|
(1,340,854,000)
|
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
0
|
0
|
|
Reserve of change in value of time value of options
|
0
|
0
|
|
Reserve of change in value of forward elements of forward contracts
|
0
|
0
|
|
Reserve of change in value of foreign currency basis spreads
|
0
|
0
|
|
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income
|
(13,638,284,000)
|
(14,940,039,000)
|
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
0
|
0
|
|
Reserve of share-based payments
|
0
|
0
|
|
Reserve of remeasurements of defined benefit plans
|
(943,834,000)
|
(943,834,000)
|
|
Concept
|
Close Current Quarter
2021-09-30
|
Close Previous Exercise
2020-12-31
|
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal groups held for sale
|
0
|
0
|
|
Reserve of gains and losses from investments in equity instruments
|
0
|
0
|
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
0
|
0
|
|
Reserve for catastrophe
|
0
|
0
|
|
Reserve for equalisation
|
0
|
0
|
|
Reserve of discretionary participation features
|
0
|
0
|
|
Reserve of equity component of convertible instruments
|
0
|
0
|
|
Capital redemption reserve
|
0
|
0
|
|
Merger reserve
|
0
|
0
|
|
Statutory reserve
|
0
|
0
|
|
Other comprehensive income
|
2,708,000
|
(136,448,000)
|
|
Total other reserves
|
(12,597,864,000)
|
(15,556,848,000)
|
|
Net assets (liabilities)
|
||
|
Assets
|
285,601,580,000
|
271,246,332,000
|
|
Liabilities
|
192,194,970,000
|
183,307,299,000
|
|
Net assets (liabilities)
|
93,406,610,000
|
87,939,033,000
|
|
Net current assets (liabilities)
|
||
|
Current assets
|
69,450,011,000
|
69,061,075,000
|
|
Current liabilities
|
51,557,818,000
|
43,709,666,000
|
|
Net current assets (liabilities)
|
17,892,193,000
|
25,351,409,000
|
|
Concept
|
Accumulated Current Year
2021-01-01 - 2021-09-30
|
Accumulated Previous Year
2020-01-01 - 2020-09-30
|
Quarter Current Year
2021-07-01 - 2021-09-30
|
Quarter Previous Year
2020-07-01 - 2020-09-30
|
|
Analysis of income and expense
|
||||
|
Revenue
|
||||
|
Revenue from rendering of services
|
55,086,830,000
|
50,734,138,000
|
19,536,472,000
|
17,563,088,000
|
|
Revenue from sale of goods
|
618,747,000
|
614,169,000
|
211,089,000
|
223,144,000
|
|
Interest income
|
0
|
0
|
0
|
0
|
|
Royalty income
|
7,542,540,000
|
7,177,159,000
|
2,656,990,000
|
2,438,038,000
|
|
Dividend income
|
0
|
0
|
0
|
0
|
|
Rental income
|
11,461,881,000
|
11,053,507,000
|
3,723,316,000
|
3,718,757,000
|
|
Revenue from construction contracts
|
0
|
0
|
0
|
0
|
|
Other revenue
|
0
|
0
|
0
|
0
|
|
Total revenue
|
74,709,998,000
|
69,578,973,000
|
26,127,867,000
|
23,943,027,000
|
|
Finance income
|
||||
|
Interest income
|
573,090,000
|
950,988,000
|
186,032,000
|
275,278,000
|
|
Net gain on foreign exchange
|
0
|
0
|
0
|
3,077,786,000
|
|
Gains on change in fair value of derivatives
|
0
|
1,936,686,000
|
0
|
0
|
|
Gain on change in fair value of financial instruments
|
0
|
0
|
0
|
0
|
|
Other finance income
|
0
|
0
|
0
|
0
|
|
Total finance income
|
573,090,000
|
2,887,674,000
|
186,032,000
|
3,353,064,000
|
|
Finance costs
|
||||
|
Interest expense
|
6,782,675,000
|
8,202,140,000
|
2,274,104,000
|
2,788,835,000
|
|
Net loss on foreign exchange
|
2,392,442,000
|
3,172,405,000
|
2,560,032,000
|
0
|
|
Losses on change in fair value of derivatives
|
965,263,000
|
0
|
244,239,000
|
254,612,000
|
|
Loss on change in fair value of financial instruments
|
0
|
0
|
0
|
0
|
|
Other finance cost
|
0
|
0
|
0
|
0
|
|
Total finance costs
|
10,140,380,000
|
11,374,545,000
|
5,078,375,000
|
3,043,447,000
|
|
Tax income (expense)
|
||||
|
Current tax
|
5,045,310,000
|
4,608,327,000
|
1,025,937,000
|
1,170,682,000
|
|
Deferred tax
|
(3,237,397,000)
|
(3,462,542,000)
|
(914,475,000)
|
948,460,000
|
|
Total tax income (expense)
|
1,807,913,000
|
1,145,785,000
|
111,462,000
|
2,119,142,000
|
|
Subsidiaries
|
Company’s
Ownership Interest (1) |
|
Business
Segment (2) |
|
Empresas Cablevisión, S.A.B. de C.V. and subsidiaries (collectively, “Empresas Cablevisión”) (3)
|
51.2%
|
|
Cable
|
|
Subsidiaries engaged in the Cablemás business (collectively, “Cablemás”) (4)
|
100%
|
|
Cable
|
|
Televisión Internacional, S.A. de C.V. and subsidiaries (collectively, “TVI”) (5)
|
100%
|
|
Cable
|
|
Cablestar, S.A. de C.V. and subsidiaries (collectively, “Bestel”) (6)
|
66.2%
|
|
Cable
|
|
Arretis, S.A.P.I. de C.V. and subsidiaries (collectively, “Cablecom”) (7)
|
100%
|
|
Cable
|
|
Subsidiaries
|
Company’s
Ownership Interest (1) |
|
Business
Segment (2) |
|
Subsidiaries engaged in the Telecable business (collectively, “Telecable”) (8)
|
100%
|
|
Cable
|
|
FTTH de México, S.A. de C.V. (9)
|
100%
|
|
Cable
|
|
Corporativo Vasco de Quiroga, S.A. de C.V. (“CVQ”) and subsidiaries (10)
|
100%
|
|
Cable and Sky
|
|
Innova, S. de R.L. de C.V. (“Innova”) and subsidiaries (collectively, “Sky”) (11)
|
58.7%
|
|
Sky
|
|
Grupo Telesistema, S.A. de C.V. (“Grupo Telesistema”) and subsidiaries
|
100%
|
|
Content and Other Businesses
|
|
Televisa, S.A. de C.V. (“Televisa”) (12)
|
100%
|
|
Content
|
|
Televisión Independiente de México, S.A. de C.V. (“TIM”) (12)
|
100%
|
|
Content
|
|
G.Televisa-D, S.A. de C.V. (12)
|
100%
|
|
Content
|
|
Multimedia Telecom, S.A. de C.V. (“Multimedia Telecom”) and subsidiary (13)
|
100%
|
|
Content
|
|
Ulvik, S.A. de C.V. (14)
|
100%
|
|
Content and Other Businesses
|
|
Controladora de Juegos y Sorteos de México, S.A. de C.V. and subsidiaries
|
100%
|
|
Other Businesses
|
|
Editorial Televisa, S.A. de C.V. and subsidiaries
|
100%
|
|
Other Businesses
|
|
Grupo Distribuidoras Intermex, S.A. de C.V. and subsidiaries
|
100%
|
|
Other Businesses
|
|
Villacezán, S.A. de C.V. (“Villacezán”) and subsidiaries (15)
|
100%
|
|
Other Businesses
|
|
Sistema Radiópolis, S.A. de C.V. (“Radiópolis”) and subsidiaries (16)
|
—
|
|
Disposed operations
|
|
(1)
|
Percentage of equity interest directly or indirectly held by the Company.
|
|
(2)
|
See Note 26 for a description of each of the Group’s business segments.
|
|
(3)
|
Empresas Cablevisión, S.A.B. de C.V., is a direct majority-owned subsidiary of CVQ.
|
|
(4)
|
Some Cablemás subsidiaries are directly owned by CVQ and some other Cablemás subsidiaries are indirectly owned by CVQ.
|
|
(5)
|
Televisión Internacional, S.A. de C.V., is a direct subsidiary of CVQ.
|
|
(6)
|
Cablestar, S.A. de C.V., is an indirect majority-owned subsidiary of CVQ and Empresas Cablevisión, S.A.B. de C.V.
|
|
(7)
|
Arretis, S.A.P.I. de C.V., is a direct subsidiary of CVQ.
|
|
(8)
|
The Telecable subsidiaries are directly owned by CVQ.
|
|
(9)
|
FTTH de México, S. A. de C.V., is an indirect subsidiary of CVQ.
|
|
(10)
|
CVQ is a direct subsidiary of the Company and the parent company of Empresas Cablevisión, Cablemás, TVI, Bestel, Cablecom, Telecable and Innova.
|
|
(11)
|
Innova is an indirect majority-owned subsidiary of the Company, CVQ and Sky DTH, S.A. de C.V. (“Sky DTH”), and a direct majority-owned subsidiary of Innova Holdings, S. de R.L.
de C.V. (“Innova Holdings”). Sky is a satellite television provider in Mexico, Central America and the Dominican Republic. Although the Company holds a majority of Innova’s equity and designates a majority of the members of
Innova’s Board of Directors, the non-controlling interest has certain governance and veto rights in Innova, including the right to block certain transactions between the companies in the Group and Sky. These veto rights are
protective in nature and do not affect decisions about relevant business activities of Innova.
|
|
(12)
|
Televisa, TIM and G.Televisa-D, S.A. de C.V., are direct subsidiaries of Grupo Telesistema.
|
|
(13)
|
Multimedia Telecom and its direct subsidiary, Comunicaciones Tieren, S.A. de C.V. (“Tieren”), are indirect wholly-owned subsidiaries of Grupo Telesistema, through which the
Company owns shares of the capital stock of UHI and maintained through December 29, 2020, an investment in warrants that were exercised for shares of common stock of UHI on that date. As of December 31, 2020, and 2019, Multimedia
Telecom and Tieren have investments representing 95.3% and 4.7%, respectively, of the Group’s aggregate investment in shares of common stock and/or share warrants issued by UHI (see Notes 9, 10 and 20).
|
|
(14)
|
Direct subsidiary through which we conduct certain operations of our Content segment and certain operations of our Other Businesses segments.
|
|
(15)
|
Villacezán is an indirect subsidiary of Grupo Telesistema.
|
|
(16)
|
In July 2020, the Company concluded the sale of its 50% equity interest in Radiópolis. Through June 2020, Radiópolis was a direct subsidiary of the Company through which the
Group conducted the operations of its former Radio business. The Company controlled Radiópolis as it had the right to appoint the majority of the members of the Board of Directors of Radiópolis. The Radio business was part the of
the Group’s Other Businesses segment through the third quarter of 2019. Beginning in the fourth quarter of 2019, the assets and related liabilities of the Radio Business, as well as its operating results, were classified as held
for sale in the Group’s consolidated financial statements through June 30, 2020 (see Notes 3 and 26).
|
|
Segments
|
|
Expiration Dates
|
|
Cable
|
|
Various from 2022 to 2048
|
|
Sky
|
|
Various from 2021 to 2030
|
|
Content (broadcasting concessions) (1)
|
|
In 2021 and the relevant renewals start in 2022 ending in 2042
|
|
Other Businesses:
|
|
|
|
Gaming
|
|
In 2030
|
|
(1)
|
In November 2018, the IFT approved the renewal of the Group’s broadcasting concessions for all of its
television stations in Mexico, for a term of 20 years after the existing expiration date in 2021. In November 2018, the Group paid for such renewal an aggregate amount of Ps.5,754,543 in cash, which included a payment of
Ps.1,194 for administrative expenses and recognized this payment as an intangible asset in its consolidated statement of financial position. This amount will be amortized in a period of 20 years beginning on January 1, 2022,
by using the straight-line method (see Note 13).
|
|
|
Estimated
Useful Lives |
|
|
Buildings
|
20-65 years
|
|
|
Building improvements
|
5-20 years
|
|
|
Technical equipment
|
3-30 years
|
|
|
Satellite transponders
|
15 years
|
|
|
Furniture and fixtures
|
3-10 years
|
|
|
Transportation equipment
|
4-8 years
|
|
|
Computer equipment
|
3-6 years
|
|
|
Leasehold improvements
|
5-30 years
|
|
|
|
Estimated
Useful Lives |
|
|
Trademarks with finite useful lives
|
4 years
|
|
|
Licenses
|
3-10 years
|
|
|
Subscriber lists
|
4-5 years
|
|
|
Payments for renewal of concessions
|
20 years
|
|
|
Other intangible assets
|
3-20 years
|
|
|
•
|
Cable television, internet and telephone subscription, and pay-per-view and installation fees are recognized in the period in which
the services are rendered. Beginning on January 1, 2018, in accordance with IFRS 15, incremental costs for obtaining contracts with customers, primarily commissions, are recognized as assets in the Group’s consolidated statement
of financial position and amortized in the expected life of contracts with customers.
|
|
•
|
Revenues from other telecommunications and data services are recognized in the period in which these services are provided. Other
telecommunications services include long distance and local telephony, as well as leasing and maintenance of telecommunications facilities.
|
|
•
|
Sky program service revenues, including advances from customers for future direct-to-home (“DTH”) program services, are recognized at
the time the service is provided. Beginning on January 1, 2018, in accordance with IFRS 15, certain incremental costs for obtaining contracts with customers, primarily commissions, are recognized as assets in the Group’s
consolidated statement of financial position and amortized in the expected life of contracts with customers.
|
|
•
|
Advertising revenues, including deposits and advances from customers for future advertising, are recognized at the time the
advertising services are rendered.
|
|
•
|
Revenues from program services for network subscription and licensed and syndicated television programs are recognized when the
programs are sold and become available for broadcast.
|
|
•
|
Revenues from magazine subscriptions are initially deferred and recognized proportionately as products are delivered to subscribers.
Revenues from the sales of magazines are recognized on the date of circulation of delivered merchandise, net of a provision for estimated returns.
|
|
•
|
Revenues from publishing distribution are recognized upon distribution of the products.
|
|
•
|
Revenues from attendance to soccer games, including revenues from advance ticket sales for soccer games and other promotional events,
are recognized on the date of the relevant event.
|
|
•
|
Motion picture production and distribution revenues are recognized as the films are exhibited.
|
|
•
|
Gaming revenues consist of the net win from gaming activities, which is the difference between amounts wagered and amounts paid to
winning patrons and are recognized at the time of such net win.
|
|
•
|
The determination of whether an arrangement was, or contained, a lease was based on the substance of the arrangement and required an
assessment of whether the fulfillment of the arrangement was dependent on the use of a specific asset or assets and whether the arrangement conveyed the right to use the asset.
|
|
•
|
Leases of property, plant and equipment and other assets where the Group held substantially all the risks and rewards of ownership
were classified as finance leases. Finance lease assets were capitalized at the commencement of the lease term at the lower of the present value of the minimum lease payments or the fair value of the lease asset. The obligations
relating to finance leases, net of finance charges in respect of future periods, were recognized as liabilities. The interest element of the finance cost was charged to the consolidated statement of income over the lease period so
as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The property, plant and equipment acquired under finance leases was depreciated over the shorter of the useful life of
the asset and the lease term.
|
|
•
|
Leases where a significant portion of the risks and rewards were held by the lessor were classified as operating leases. Rentals were
charged to the consolidated statement of income on a straight line basis over the period of the lease.
|
|
•
|
Leasehold improvements were depreciated at the lesser of its useful life or contract term.
|
|
New or Amended IFRS Standard
|
|
Title of the IFRS Standard
|
Effective for Annual
Periods Beginning On or After |
|
|
Amendments to IFRS 10 and IAS 28 (1)
|
|
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
|
Postponed
|
|
|
IFRS 17 (2)
|
|
Insurance Contracts
|
January 1, 2023
|
|
|
Amendments to IAS 1 (1)
|
|
Classification of Liabilities as Current or Non-current
|
January 1, 2023
|
|
|
Annual Improvements (1)
|
Annual Improvements to IFRS Standards 2018-2020
|
January 1, 2022
|
||
|
Amendments to IAS 16 (1)
|
Property, Plant and Equipment: Proceeds before Intended Use
|
January 1, 2022
|
||
|
Amendments to IAS 37 (1)
|
Onerous Contracts – Cost of Fulfilling a Contract
|
January 1, 2022
|
||
|
Amendments to IFRS 3 (1)
|
|
Reference to the Conceptual Framework
|
January 1, 2022
|
|
|
Amendment to IFRS 16 (1)
|
|
COVID-19-Related Rent Concessions
|
June 1, 2020
|
|
|
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (2)
|
Interest Rate Benchmark Reform – Phase 2
|
January 1, 2021
|
||
|
Amendments to IAS 8
|
|
Definition of Accounting Estimates
|
January 1, 2023
|
|
|
Amendments to IAS 1 and IFRS Practice Statement 2
|
|
Disclosure of Accounting Policies
|
January 1, 2023
|
|
|
Standard
|
Subject of Amendment
|
|
IFRS 1 First-time Adoption of International Reporting Standards
|
Subsidiary as a First-time Adopter
|
|
IFRS 9 Financial Instruments
|
Fees in the “10 per cent” Test for Derecognition of Financial Liabilities
|
|
Illustrative Examples accompanying IFRS 16 Leases
|
Lease Incentives
|
|
IAS 41 Agriculture
|
Taxation in Fair Value Measurements
|
|
Subsidiaries
|
Company’s
Ownership Interest (1) |
|
Business
Segment (2) |
|
Empresas Cablevisión, S.A.B. de C.V. and subsidiaries (collectively, “Empresas Cablevisión”) (3)
|
51.2%
|
|
Cable
|
|
Subsidiaries engaged in the Cablemás business (collectively, “Cablemás”) (4)
|
100%
|
|
Cable
|
|
Televisión Internacional, S.A. de C.V. and subsidiaries (collectively, “TVI”) (5)
|
100%
|
|
Cable
|
|
Cablestar, S.A. de C.V. and subsidiaries (collectively, “Bestel”) (6)
|
66.2%
|
|
Cable
|
|
Arretis, S.A.P.I. de C.V. and subsidiaries (collectively, “Cablecom”) (7)
|
100%
|
|
Cable
|
|
Subsidiaries engaged in the Telecable business (collectively, “Telecable”) (8)
|
100%
|
|
Cable
|
|
FTTH de México, S.A. de C.V. (9)
|
100%
|
|
Cable
|
|
Corporativo Vasco de Quiroga, S.A. de C.V. (“CVQ”) and subsidiaries (10)
|
100%
|
|
Cable and Sky
|
|
Innova, S. de R.L. de C.V. (“Innova”) and subsidiaries (collectively, “Sky”) (11)
|
58.7%
|
|
Sky
|
|
Grupo Telesistema, S.A. de C.V. (“Grupo Telesistema”) and subsidiaries
|
100%
|
|
Content and Other Businesses
|
|
Televisa, S.A. de C.V. (“Televisa”) (12)
|
100%
|
|
Content
|
|
Televisión Independiente de México, S.A. de C.V. (“TIM”) (12)
|
100%
|
|
Content
|
|
G.Televisa-D, S.A. de C.V. (12)
|
100%
|
|
Content
|
|
Multimedia Telecom, S.A. de C.V. (“Multimedia Telecom”) and subsidiary (13)
|
100%
|
|
Content
|
|
Ulvik, S.A. de C.V. (14)
|
100%
|
|
Content and Other Businesses
|
|
Controladora de Juegos y Sorteos de México, S.A. de C.V. and subsidiaries
|
100%
|
|
Other Businesses
|
|
Editorial Televisa, S.A. de C.V. and subsidiaries
|
100%
|
|
Other Businesses
|
|
Grupo Distribuidoras Intermex, S.A. de C.V. and subsidiaries
|
100%
|
|
Other Businesses
|
|
Villacezán, S.A. de C.V. (“Villacezán”) and subsidiaries (15)
|
100%
|
|
Other Businesses
|
|
Sistema Radiópolis, S.A. de C.V. (“Radiópolis”) and subsidiaries (16)
|
—
|
|
Disposed operations
|
|
(1)
|
Percentage of equity interest directly or indirectly held by the Company.
|
|
(2)
|
See Note 26 for a description of each of the Group’s business segments.
|
|
(3)
|
Empresas Cablevisión, S.A.B. de C.V., is a direct majority-owned subsidiary of CVQ.
|
|
(4)
|
Some Cablemás subsidiaries are directly owned by CVQ and some other Cablemás subsidiaries are indirectly owned by CVQ.
|
|
(5)
|
Televisión Internacional, S.A. de C.V., is a direct subsidiary of CVQ.
|
|
(6)
|
Cablestar, S.A. de C.V., is an indirect majority-owned subsidiary of CVQ and Empresas Cablevisión, S.A.B. de C.V.
|
|
(7)
|
Arretis, S.A.P.I. de C.V., is a direct subsidiary of CVQ.
|
|
(8)
|
The Telecable subsidiaries are directly owned by CVQ.
|
|
(9)
|
FTTH de México, S. A. de C.V., is an indirect subsidiary of CVQ.
|
|
(10)
|
CVQ is a direct subsidiary of the Company and the parent company of Empresas Cablevisión, Cablemás, TVI, Bestel, Cablecom, Telecable and Innova.
|
|
(11)
|
Innova is an indirect majority-owned subsidiary of the Company, CVQ and Sky DTH, S.A. de C.V. (“Sky DTH”), and a direct majority-owned subsidiary of Innova Holdings, S. de R.L.
de C.V. (“Innova Holdings”). Sky is a satellite television provider in Mexico, Central America and the Dominican Republic. Although the Company holds a majority of Innova’s equity and designates a majority of the members of
Innova’s Board of Directors, the non-controlling interest has certain governance and veto rights in Innova, including the right to block certain transactions between the companies in the Group and Sky. These veto rights are
protective in nature and do not affect decisions about relevant business activities of Innova.
|
|
(12)
|
Televisa, TIM and G.Televisa-D, S.A. de C.V., are direct subsidiaries of Grupo Telesistema.
|
|
(13)
|
Multimedia Telecom and its direct subsidiary, Comunicaciones Tieren, S.A. de C.V. (“Tieren”), are indirect wholly-owned subsidiaries of Grupo Telesistema, through which the
Company owns shares of the capital stock of UHI and maintained through December 29, 2020, an investment in warrants that were exercised for shares of common stock of UHI on that date. As of December 31, 2020, and 2019, Multimedia
Telecom and Tieren have investments representing 95.3% and 4.7%, respectively, of the Group’s aggregate investment in shares of common stock and/or share warrants issued by UHI (see Notes 9, 10 and 20).
|
|
(14)
|
Direct subsidiary through which we conduct certain operations of our Content segment and certain operations of our Other Businesses segments.
|
|
(15)
|
Villacezán is an indirect subsidiary of Grupo Telesistema.
|
|
(16)
|
In July 2020, the Company concluded the sale of its 50% equity interest in Radiópolis. Through June 2020, Radiópolis was a direct subsidiary of the Company through which the
Group conducted the operations of its former Radio business. The Company controlled Radiópolis as it had the right to appoint the majority of the members of the Board of Directors of Radiópolis. The Radio business was part the of
the Group’s Other Businesses segment through the third quarter of 2019. Beginning in the fourth quarter of 2019, the assets and related liabilities of the Radio Business, as well as its operating results, were classified as held
for sale in the Group’s consolidated financial statements through June 30, 2020 (see Notes 3 and 26).
|
|
Segments
|
|
Expiration Dates
|
|
Cable
|
|
Various from 2022 to 2048
|
|
Sky
|
|
Various from 2021 to 2030
|
|
Content (broadcasting concessions) (1)
|
|
In 2021 and the relevant renewals start in 2022 ending in 2042
|
|
Other Businesses:
|
|
|
|
Gaming
|
|
In 2030
|
|
(1)
|
In November 2018, the IFT approved the renewal of the Group’s broadcasting concessions for all of its
television stations in Mexico, for a term of 20 years after the existing expiration date in 2021. In November 2018, the Group paid for such renewal an aggregate amount of Ps.5,754,543 in cash, which included a payment of
Ps.1,194 for administrative expenses and recognized this payment as an intangible asset in its consolidated statement of financial position. This amount will be amortized in a period of 20 years beginning on January 1, 2022,
by using the straight-line method (see Note 13).
|
|
|
Estimated
Useful Lives |
|
|
Buildings
|
20-65 years
|
|
|
Building improvements
|
5-20 years
|
|
|
Technical equipment
|
3-30 years
|
|
|
Satellite transponders
|
15 years
|
|
|
Furniture and fixtures
|
3-10 years
|
|
|
Transportation equipment
|
4-8 years
|
|
|
Computer equipment
|
3-6 years
|
|
|
Leasehold improvements
|
5-30 years
|
|
|
|
Estimated
Useful Lives |
|
|
Trademarks with finite useful lives
|
4 years
|
|
|
Licenses
|
3-10 years
|
|
|
Subscriber lists
|
4-5 years
|
|
|
Payments for renewal of concessions
|
20 years
|
|
|
Other intangible assets
|
3-20 years
|
|
|
•
|
Cable television, internet and telephone subscription, and pay-per-view and installation fees are recognized in the period in which
the services are rendered. Beginning on January 1, 2018, in accordance with IFRS 15, incremental costs for obtaining contracts with customers, primarily commissions, are recognized as assets in the Group’s consolidated statement
of financial position and amortized in the expected life of contracts with customers.
|
|
•
|
Revenues from other telecommunications and data services are recognized in the period in which these services are provided. Other
telecommunications services include long distance and local telephony, as well as leasing and maintenance of telecommunications facilities.
|
|
•
|
Sky program service revenues, including advances from customers for future direct-to-home (“DTH”) program services, are recognized at
the time the service is provided. Beginning on January 1, 2018, in accordance with IFRS 15, certain incremental costs for obtaining contracts with customers, primarily commissions, are recognized as assets in the Group’s
consolidated statement of financial position and amortized in the expected life of contracts with customers.
|
|
•
|
Advertising revenues, including deposits and advances from customers for future advertising, are recognized at the time the
advertising services are rendered.
|
|
•
|
Revenues from program services for network subscription and licensed and syndicated television programs are recognized when the
programs are sold and become available for broadcast.
|
|
•
|
Revenues from magazine subscriptions are initially deferred and recognized proportionately as products are delivered to subscribers.
Revenues from the sales of magazines are recognized on the date of circulation of delivered merchandise, net of a provision for estimated returns.
|
|
•
|
Revenues from publishing distribution are recognized upon distribution of the products.
|
|
•
|
Revenues from attendance to soccer games, including revenues from advance ticket sales for soccer games and other promotional events,
are recognized on the date of the relevant event.
|
|
•
|
Motion picture production and distribution revenues are recognized as the films are exhibited.
|
|
•
|
Gaming revenues consist of the net win from gaming activities, which is the difference between amounts wagered and amounts paid to
winning patrons and are recognized at the time of such net win.
|
|
•
|
The determination of whether an arrangement was, or contained, a lease was based on the substance of the arrangement and required an
assessment of whether the fulfillment of the arrangement was dependent on the use of a specific asset or assets and whether the arrangement conveyed the right to use the asset.
|
|
•
|
Leases of property, plant and equipment and other assets where the Group held substantially all the risks and rewards of ownership
were classified as finance leases. Finance lease assets were capitalized at the commencement of the lease term at the lower of the present value of the minimum lease payments or the fair value of the lease asset. The obligations
relating to finance leases, net of finance charges in respect of future periods, were recognized as liabilities. The interest element of the finance cost was charged to the consolidated statement of income over the lease period so
as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The property, plant and equipment acquired under finance leases was depreciated over the shorter of the useful life of
the asset and the lease term.
|
|
•
|
Leases where a significant portion of the risks and rewards were held by the lessor were classified as operating leases. Rentals were
charged to the consolidated statement of income on a straight line basis over the period of the lease.
|
|
•
|
Leasehold improvements were depreciated at the lesser of its useful life or contract term.
|
|
New or Amended IFRS Standard
|
|
Title of the IFRS Standard
|
Effective for Annual
Periods Beginning On or After |
|
|
Amendments to IFRS 10 and IAS 28 (1)
|
|
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
|
Postponed
|
|
|
IFRS 17 (2)
|
|
Insurance Contracts
|
January 1, 2023
|
|
|
Amendments to IAS 1 (1)
|
|
Classification of Liabilities as Current or Non-current
|
January 1, 2023
|
|
|
Annual Improvements (1)
|
Annual Improvements to IFRS Standards 2018-2020
|
January 1, 2022
|
||
|
Amendments to IAS 16 (1)
|
Property, Plant and Equipment: Proceeds before Intended Use
|
January 1, 2022
|
||
|
Amendments to IAS 37 (1)
|
Onerous Contracts – Cost of Fulfilling a Contract
|
January 1, 2022
|
||
|
Amendments to IFRS 3 (1)
|
|
Reference to the Conceptual Framework
|
January 1, 2022
|
|
|
Amendment to IFRS 16 (1)
|
|
COVID-19-Related Rent Concessions
|
June 1, 2020
|
|
|
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (2)
|
Interest Rate Benchmark Reform – Phase 2
|
January 1, 2021
|
||
|
Amendments to IAS 8
|
|
Definition of Accounting Estimates
|
January 1, 2023
|
|
|
Amendments to IAS 1 and IFRS Practice Statement 2
|
|
Disclosure of Accounting Policies
|
January 1, 2023
|
|
|
Standard
|
Subject of Amendment
|
|
IFRS 1 First-time Adoption of International Reporting Standards
|
Subsidiary as a First-time Adopter
|
|
IFRS 9 Financial Instruments
|
Fees in the “10 per cent” Test for Derecognition of Financial Liabilities
|
|
Illustrative Examples accompanying IFRS 16 Leases
|
Lease Incentives
|
|
IAS 41 Agriculture
|
Taxation in Fair Value Measurements
|
|
|
September 30, 2021
|
December 31, 2020
|
||||||
|
Equity instruments measured at fair value through other comprehensive income:
|
||||||||
|
Open-Ended Fund (1)
|
Ps.
|
964,989
|
Ps. | 1,135,803 | ||||
|
Publicly traded equity instruments (2)
|
3,181,875
|
5,397,504
|
||||||
|
Other equity instruments (3)
|
3,569,525
|
468,552
|
||||||
|
|
7,716,389
|
7,001,859
|
||||||
|
Other
|
5,223
|
853
|
||||||
|
|
Ps.
|
7,721,612
|
Ps.
|
7,002,712
|
||||
|
(1)
|
The Group has an investment in an Open-Ended Fund that has as a primary objective to achieve capital appreciation by using a
broad range of strategies through investments in securities, including without limitation stock, debt and other financial instruments, a principal portion of which are considered as Level 1 financial instruments, in telecom,
media and other sectors across global markets, including Latin America and other emerging markets. Shares may be redeemed on a quarterly basis at the Net Asset Value (“NAV”) per share as of such redemption date. The fair value
of this fund is determined by using the NAV per share. The NAV per share is calculated by determining the value of the fund assets, all of which are measured at fair value,and subtracting all of the fund liabilities and dividing
the result by the total number of issued shares. In September and December 2020, the Company redeemed a portion of its investment in Open-Ended Fund at the aggregate fair value amount of U.S.$153.7 million (Ps.3,155,643) and
recognized cash proceeds from this redemption for such aggregate amount. In the first half of 2021, the Company redeemed a portion of its investment in Open-Ended Fund at the aggregate fair value amount of U.S.$12.4 million
(Ps.258,956) and recognized cash proceeds from this redemption for such aggregate amount.
|
|
(2)
|
Their fair value of publicly traded equity instruments is determined by using quoted market prices at the measurement date. In
the first half of 2021, the Company redeemed a portion of its investment in publicly traded equity instruments and recognized cash proceeds from this redemption for an aggregate amount of Ps.1,755,415.
|
|
(3)
|
Other equity instruments include unquoted equity investments, which are initially recognized at cost with any subsequent changes
in fair value recognized through other comprehensive income or loss. The fair value of these investments is determined by using an estimate of fair value for each unquoted equity instrument.
|
|
|
Open-Ended
Fund (1)
|
Publicly
Traded
Equity
Instruments
|
Other Equity Instruments
|
Total
|
||||||||||||
|
At January 1, 2021
|
Ps.
|
1,135,803
|
Ps.
|
5,397,504
|
Ps.
|
468,552
|
Ps.
|
7,001,859
|
||||||||
|
Investments
|
-
|
-
|
778,053
|
778,053
|
||||||||||||
|
Disposition of investments
|
(258,956
|
)
|
(1,756,434
|
)
|
-
|
(2,015,390
|
)
|
|||||||||
|
Change in fair value in other comprehensive income
|
88,142
|
(459,195
|
)
|
2,322,920
|
1,951,867
|
|||||||||||
|
At September 30, 2021
|
Ps.
|
964,989
|
Ps.
|
3,181,875
|
Ps.
|
3,569,525
|
Ps.
|
7,716,389
|
||||||||
|
|
Warrants Issued by UHI(1)
|
Open-Ended
Fund (1)
|
Publicly
Traded
Equity
Instruments
|
Other Equity Instruments
|
Total
|
|||||||||||||||
|
At January 1, 2020
|
Ps.
|
33,775,451
|
Ps.
|
4,688,202
|
Ps.
|
5,751,001
|
Ps.
|
50,392
|
Ps.
|
44,265,046
|
||||||||||
|
Investments
|
-
|
-
|
-
|
332,824
|
332,824
|
|||||||||||||||
|
Change in fair value in other comprehensive income
|
(14,616,154
|
)
|
(2,193,736
|
)
|
(1,025,586
|
)
|
(4,374
|
)
|
(17,839,850
|
)
|
||||||||||
|
At September 30, 2020
|
Ps.
|
19,159,297
|
Ps.
|
2,494,466
|
Ps.
|
4,725,415
|
Ps.
|
378,842
|
Ps.
|
26,758,020
|
||||||||||
|
(1)
|
The foreign exchange gain for the nine months ended September 30, 2021, derived from the hedged
investment in an Open-Ended Fund, was hedged by foreign exchange loss from the consolidated statement of income, in the amount of Ps.111,793. The foreign exchange gain for the nine months ended September 30, 2020, derived from
the hedged warrants issued by UHI and the investment in an Open-Ended Fund, was hedged by foreign exchange loss in the consolidated statement of income, in the amount of Ps.7,381,017 and Ps.782,301, respectively (see Notes 9 and 16).
|
|
|
Ownership as of September 30, 2021
|
September 30,
2021
|
December 31, 2020
|
|||||||||
|
Associates:
|
||||||||||||
|
UHI II and subsidiaries (1)
|
35.5
|
%
|
Ps.
|
24,445,826
|
Ps.
|
21,424,180
|
||||||
|
OCEN and subsidiaries (2)
|
40.0
|
%
|
-
|
556,251
|
||||||||
|
Other
|
162,937
|
113,905
|
||||||||||
|
Joint ventures:
|
||||||||||||
|
Grupo de Telecomunicaciones de Alta Capacidad, S.A.P.I. de C.V. and subsidiaries
(“GTAC”) (3)
|
33.3
|
%
|
567,752
|
514,731
|
||||||||
|
Periódico Digital Sendero, S.A.P.I. de C.V. and subsidiary (“PDS”) (4)
|
50.0
|
%
|
198,284
|
204,464
|
||||||||
|
|
Ps.
|
25,374,799
|
Ps.
|
22,813,531
|
||||||||
|
(1)
|
The Group accounts for its investment in common stock of UHI II (UHI through May 18, 2021, as described below), the parent
company of UHI and Univision, under the equity method due to the Group’s ability to exercise significant influence, as defined under IFRS Standards, over UHI II’s operations. The Group has the ability to exercise significant
influence over the operating and financial policies of UHI II (UHI through May 18, 2021) because (i) it owns 5,701,335 Class “A” shares of common stock of UHI II, representing 35.5% and 35.9% of the equity of UHI II and UHI,
respectively, on a fully-diluted basis as of September 30, 2021 and December 31, 2020, respectively, and 40.1% and 40.2% of the voting shares of UHI II and UHI as of September 30, 2021 and December 31, 2020, respectively; and
(ii) it has three officers of the Company designated as members of the Board of Directors of UHI II, which is composed of nine directors. Through December 29, 2020, the date on which the Group exercised all of its outstanding
warrants for common shares of UHI, the Group had the ability to exercise significant influence over the operating and financial policies of UHI because (i) it owned 1,110,382 Class “C” shares of common stock of UHI, representing
10% of the outstanding total shares of UHI and 14% of the voting shares of UHI, and 4,590,953 warrants issued by UHI, which upon their exercise, and together with the former investment in shares of UHI, represented approximately
36% on a fully-diluted, as-converted basis of the equity in UHI; and (ii) it had three officers and one director of the Company designated as members of the Board of Directors of UHI, which was composed of 19 directors of 22
available board seats. The Group is also a party to a Program Licensing Agreement (“PLA”), as amended, with Univision, pursuant to which Univision has the right to broadcast certain Televisa content in the United States, and to
another program license agreement pursuant to which the Group has the right to broadcast certain Univision’s content in Mexico, in each case through 7.5 years after the Group has voluntarily sold two-thirds of its initial
investment made in UHI in December 2010. On February 25, 2020, UHI, Searchlight Capital Partners, LP (“Searchlight”), a global private investment firm, and ForgeLight LLC (“ForgeLight”), an operating and investment company
focused on the media and consumer technology sectors, announced a definitive agreement in which Searchlight and ForgeLight acquired a majority ownership interest in UHI from the former stockholders of UHI other than the Group.
Terms of the transaction were not disclosed. The Group elected to retain its approximately 36% stake in UHI’s equity upon exercise of its warrants for shares of UHI common stock. Under the terms of the acquisition, Searchlight
and ForgeLight purchased the remaining 64% ownership interest from the other stockholders of UHI. The transaction was closed on December 29, 2020. In conjunction with this transaction and a related decline in the estimated fair
value of the Group’s investment in warrants issued by UHI, the Company’s management recognized an impairment loss in the amount of Ps.5,455,356 that decreased the carrying value of the Group’s investment in shares of UHI in the
first quarter of 2020. This impairment adjustment was accounted for in share of income or loss of associates and joint ventures in the Group’s consolidated statement of income for the year ended December 31, 2020. In May 18,
2021, UHI concluded a reorganization through which, among other things, the Group exchanged all of its shares of the capital stock of UHI for the same number and class of newly issued shares of UHI II, and UHI II became a
holding company that owns 100% of the capital stock of UHI. The controlling interest acquired in UHI was accounted for by UHI II as an acquisition under IFRS Standards, and the UHI net assets were remeasured to fair value as of
that date and increased when compared to previously reported carrying amounts. As a result, the Group recognized in the third quarter of 2021, its share of unrecognized additional fair value in UHI assets as share of income of
UHI II for the nine months ended September 30, 2021 (see Notes 1, 3, 9, 14 and 16).
|
|
(2)
|
OCEN is a majority-owned subsidiary of CIE, and is engaged in the live entertainment
business in Mexico, Central America and Colombia. As of July 31, 2019, the Group classified this non-current investment as current assets held for sale. As a result, the Group discontinued the use of the equity method to account
for the investment in this associate beginning on August 1, 2019. Beginning on May 31, 2020, the Company (i) ceased to classify the investment in OCEN, as current assets held for sale; (ii) began to classify its equity
interest in OCEN as an investment in associates and joint ventures in its consolidated statement of financial position; (iii) recognized its share of income of OCEN, which was discontinued from August 1 through December 31,
2019, in retained earnings as of January 1, 2020, in the amount of Ps.147,975; and (iv) began to recognize its share of income or loss of OCEN since January 1, 2020 through September 30, 2021. As of September 30, 2021,the Group
classified this non-current investment as current assets held for sale. As a result, the Group discontinued the use of the equity method to account for the investment in this associate beginning on October 1, 2021. As of
September 30, 2021 and December 31, 2020, the investment in OCEN included goodwill of Ps.359,613 (see Notes 3 and 14).
|
|
(3)
|
GTAC was granted a 20-year contract for the lease of a pair of dark fiber wires held by the Mexican Federal Electricity
Commission and a concession to operate a public telecommunications network in Mexico with an expiration date in 2030. GTAC is a joint venture in which a subsidiary of the Company, a subsidiary of Grupo de Telecomunicaciones
Mexicanas, S.A. de C.V., and a subsidiary of Megacable, S.A. de C.V., have an equal equity participation of 33.3%. In June 2010, a subsidiary of the Company entered into a long-term credit facility agreement to provide financing
to GTAC for up to Ps.688,217, with an annual interest rate of the Mexican Interbank Interest Rate (“Tasa de Interés Interbancaria de Equilibrio” or “TIIE”) plus 200 basis points. Under the terms of this agreement, principal and
interest are payable at dates agreed by the parties, between 2013 and 2021. As of September 30, 2021 and December 31, 2020, GTAC had used a principal amount of Ps.688,183 under this credit facility. During the nine months ended
September 30, 2021, GTAC paid principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.97,342. During the year ended December 31, 2020, GTAC paid principal and interest
to the Group in connection with this credit facility in the aggregate principal amount of Ps.123,390. Also, a subsidiary of the Company entered into supplementary long-term loans to provide additional financing to GTAC for an
aggregate principal amount of Ps.1,062,911, with an annual interest of TIIE plus 200 basis points computed on a monthly basis and payable on an annual basis or at dates agreed by the parties. Under the terms of these
supplementary loans, principal amounts can be prepaid at dates agreed by the parties before their maturities between 2023 and 2031. During the nine months ended September 30, 2021, GTAC paid principal and interest to the Group
in connection with this credit facility in the aggregate principal amount of Ps.123,116. During the year ended December 31, 2020, GTAC paid principal and interest to the Group in connection with this credit facility in the
aggregate principal amount of Ps.122,656. The net investment in GTAC as of September 30, 2021 and December 31, 2020, included amounts receivable in connection with this long-term credit facility and supplementary loans to GTAC
in the aggregate amount of Ps.752,173 and Ps.821,253, respectively. These amounts receivable are in substance a part of the Group’s net investment in this investee (see Note 9).
|
|
(4)
|
The Group accounts for its investment in PDS under the equity method, due to its 50% interest in this joint venture. As of
September 30, 2021 and December 31, 2020, the Group’s investment in PDS included intangible assets and goodwill in the aggregate amount of Ps.113,837.
|
|
|
September 30, 2021
|
December 31, 2020
|
||||||
|
Buildings
|
Ps.
|
9,853,292
|
Ps.
|
9,816,944
|
||||
|
Building improvements
|
183,812
|
183,368
|
||||||
|
Technical equipment
|
166,921,512
|
157,262,188
|
||||||
|
Satellite transponders
|
6,026,094
|
6,026,094
|
||||||
|
Furniture and fixtures
|
1,272,809
|
1,263,800
|
||||||
|
Transportation equipment
|
3,350,312
|
3,122,232
|
||||||
|
Computer equipment
|
9,328,531
|
9,198,382
|
||||||
|
Leasehold improvements
|
3,681,688
|
3,605,636
|
||||||
|
|
200,618,050
|
190,478,644
|
||||||
|
Accumulated depreciation
|
(134,692,688
|
)
|
(124,957,287
|
)
|
||||
|
|
65,925,362
|
65,521,357
|
||||||
|
Land
|
4,876,161
|
4,886,600
|
||||||
|
Construction and projects in progress
|
16,277,235
|
12,873,670
|
||||||
|
|
Ps.
|
87,078,758
|
Ps.
|
83,281,627
|
||||
|
|
September 30, 2021
|
December 31, 2020
|
||||||
|
Buildings
|
Ps.
|
6,130,781
|
Ps.
|
5,464,584
|
||||
|
Satellite transponders
|
4,275,619
|
4,275,619
|
||||||
|
Technical equipment
|
1,885,350
|
1,883,982
|
||||||
|
Others
|
166,113
|
231,138
|
||||||
|
|
12,457,863
|
11,855,323
|
||||||
|
Accumulated depreciation
|
(5,335,264
|
)
|
(4,643,158
|
)
|
||||
|
|
Ps.
|
7,122,599
|
Ps.
|
7,212,165
|
||||
|
|
September 30, 2021
|
December 31, 2020
|
||||||||||||||||||||||
|
|
Cost
|
Accumulated Amortization
|
Carrying Value
|
Cost
|
Accumulated Amortization
|
Carrying Value
|
||||||||||||||||||
|
Intangible assets and goodwill with indefinite
useful lives:
|
||||||||||||||||||||||||
|
Trademarks
|
Ps.
|
35,242
|
Ps.
|
-
|
Ps.
|
35,242
|
Ps.
|
35,242
|
Ps.
|
-
|
Ps.
|
35,242
|
||||||||||||
|
Concessions
|
15,166,067
|
-
|
15,166,067
|
15,166,067
|
-
|
15,166,067
|
||||||||||||||||||
|
Goodwill
|
14,113,626
|
-
|
14,113,626
|
14,113,626
|
-
|
14,113,626
|
||||||||||||||||||
|
Intangible assets with finite useful lives:
|
||||||||||||||||||||||||
|
Trademarks
|
2,227,096
|
(2,025,410
|
)
|
201,686
|
2,227,096
|
(1,971,314
|
)
|
255,782
|
||||||||||||||||
|
Concessions
|
553,505
|
(525,907
|
)
|
27,598
|
553,505
|
(442,804
|
)
|
110,701
|
||||||||||||||||
|
Licenses and software
|
14,403,371
|
(9,464,903
|
)
|
4,938,468
|
13,139,480
|
(8,446,906
|
)
|
4,692,574
|
||||||||||||||||
|
Subscriber lists
|
8,807,492
|
(7,496,444
|
)
|
1,311,048
|
8,804,334
|
(7,258,070
|
)
|
1,546,264
|
||||||||||||||||
|
Payment for renewal of concessions
|
5,825,559
|
-
|
5,825,559
|
5,825,559
|
-
|
5,825,559
|
||||||||||||||||||
|
Other intangible assets
|
5,534,833
|
(4,486,251
|
)
|
1,048,582
|
5,169,795
|
(4,191,392
|
)
|
978,403
|
||||||||||||||||
|
|
Ps.
|
66,666,791
|
Ps.
|
(23,998,915
|
)
|
Ps.
|
42,667,876
|
Ps.
|
65,034,704
|
Ps.
|
(22,310,486
|
)
|
Ps.
|
42,724,218
|
||||||||||
|
|
September 30,
2021
|
December 31,
2020
|
||||||||||||||
|
|
Principal
|
Finance Costs
|
Principal, Net
|
Principal, Net
|
||||||||||||
|
U.S. dollar debt:
|
||||||||||||||||
|
6.625% Senior Notes due 2025 (1)
|
Ps.
|
12,370,800
|
Ps.
|
(134,083
|
)
|
Ps.
|
12,236,717
|
Ps.
|
11,806,765
|
|||||||
|
4.625% Senior Notes due 2026 (1)
|
6,185,400
|
(20,699
|
)
|
6,164,701
|
5,960,366
|
|||||||||||
|
8.5% Senior Notes due 2032 (1)
|
6,185,400
|
(18,545
|
)
|
6,166,855
|
5,964,920
|
|||||||||||
|
6.625% Senior Notes due 2040 (1)
|
12,370,800
|
(115,707
|
)
|
12,255,093
|
11,849,095
|
|||||||||||
|
5% Senior Notes due 2045 (1)
|
20,618,000
|
(400,282
|
)
|
20,217,718
|
19,536,333
|
|||||||||||
|
6.125% Senior Notes due 2046 (1)
|
18,556,200
|
(115,694
|
)
|
18,440,506
|
17,835,086
|
|||||||||||
|
5.250% Senior Notes due 2049 (1)
|
15,463,500
|
(286,445
|
)
|
15,177,055
|
14,667,765
|
|||||||||||
|
Total U.S. dollar debt
|
Ps.
|
91,750,100
|
Ps.
|
(1,091,455
|
)
|
Ps.
|
90,658,645
|
Ps.
|
87,620,330
|
|||||||
|
Mexican peso debt:
|
||||||||||||||||
|
8.79% Notes due 2027 (2)
|
4,500,000
|
(14,352
|
)
|
4,485,648
|
4,483,878
|
|||||||||||
|
8.49% Senior Notes due 2037 (1)
|
4,500,000
|
(11,359
|
)
|
4,488,641
|
4,488,097
|
|||||||||||
|
7.25% Senior Notes due 2043 (1)
|
6,500,000
|
(51,315
|
)
|
6,448,685
|
6,446,909
|
|||||||||||
|
Bank loans (3)
|
16,000,000
|
(67,475
|
)
|
15,932,525
|
15,911,650
|
|||||||||||
|
Bank loans (Sky) (4)
|
2,750,000
|
-
|
2,750,000
|
2,750,000
|
||||||||||||
|
Bank loans (TVI) (5)
|
671,026
|
(413
|
)
|
670,613
|
852,107
|
|||||||||||
|
Total Mexican peso debt
|
Ps.
|
34,921,026
|
Ps.
|
(144,914
|
)
|
Ps.
|
34,776,112
|
Ps.
|
34,932,641
|
|||||||
|
Total debt (6)
|
126,671,126
|
(1,236,369
|
)
|
125,434,757
|
122,552,971
|
|||||||||||
|
Less: Current portion of long-term debt
|
2,046,026
|
(413
|
)
|
2,045,613
|
616,991
|
|||||||||||
|
Long-term debt, net of current portion
|
Ps.
|
124,625,100
|
Ps.
|
(1,235,956
|
)
|
Ps.
|
123,389,144
|
Ps.
|
121,935,980
|
|||||||
|
|
||||||||||||||||
|
Lease liabilities:
|
||||||||||||||||
|
Satellite transponder lease obligation (7)
|
Ps.
|
3,597,537
|
Ps.
|
-
|
Ps.
|
3,597,537
|
Ps.
|
3,818,559
|
||||||||
|
Other lease liabilities(8)
|
5,610,944
|
-
|
5,610,944
|
5,473,792
|
||||||||||||
|
Total lease liabilities
|
9,208,481
|
9,208,481
|
9,292,351
|
|||||||||||||
|
Less: Current portion
|
1,341,455
|
-
|
1,341,455
|
1,277,754
|
||||||||||||
|
Lease liabilities, net of current portion
|
Ps.
|
7,867,026
|
Ps.
|
-
|
Ps.
|
7,867,026
|
Ps.
|
8,014,597
|
||||||||
|
(1)
|
The Senior Notes due between 2025 and 2049, in the aggregate outstanding principal amount of U.S.$4,450 million and Ps.11,000,000, are unsecured obligations of the
Company, rank equally in right of payment with all existing and future unsecured and unsubordinated indebtedness of the Company, and are junior in right of payment to all of the existing and future liabilities of the Company’s
subsidiaries. Interest rate on the Senior Notes due 2025, 2026, 2032, 2037, 2040, 2043, 2045, 2046, and 2049 including additional amounts payable in respect of certain Mexican withholding taxes, is 6.97%, 4.86%, 8.94%, 8.93%, 6.97%,
7.62%, 5.26%, 6.44% and 5.52% per annum, respectively, and is payable semi-annually. These Senior Notes may not be redeemed prior to maturity, except: (i) in the event of certain changes in law affecting the Mexican withholding tax
treatment of certain payments on the securities, in which case the securities will be redeemable, in whole or in part, at the option of the Company; and (ii) in the event of a change of control, in which case the Company may be
required to redeem the securities at 101% of their principal amount. Also, the Company may, at its own option, redeem the Senior Notes due 2025, 2026, 2037, 2040, 2043, 2046 and 2049, in whole or in part, at any time at a redemption
price equal to the greater of the principal amount of these Senior Notes or the present value of future cash flows, at the redemption date, of principal and interest amounts of the Senior Notes discounted at a fixed rate of
comparable U.S. or Mexican sovereign bonds. The Senior Notes due 2026, 2032, 2040, 2043, 2045, 2046 and 2049 were priced at 99.385%, 99.431%, 98.319%, 99.733%, 96.534%, 99.677% and 98.588%, respectively, for a yield to maturity of
4.70%, 8.553%, 6.755%, 7.27%, 5.227%, 6.147% and 5.345%, respectively. The Senior Notes due 2025 were issued in two aggregate principal amounts of U.S.$400 million and U.S.$200 million, and were priced at 98.081% and 98.632%,
respectively, for a yield to maturity of 6.802% and 6.787%, respectively. The agreement of these Senior Notes contains covenants that limit the ability of the Company and certain restricted subsidiaries engaged in the Group’s
Content segment, to incur or assume liens, perform sale and leaseback transactions, and consummate certain mergers, consolidations and similar transactions. The Senior Notes due 2025, 2026, 2032, 2037, 2040, 2045, 2046 and 2049 are
registered with the U.S. Securities and Exchange Commission (“SEC”). The Senior Notes due 2043 are registered with both the SEC and the Mexican Banking and Securities Commission (“Comisión Nacional Bancaria y de Valores” or “CNBV”).
|
|
(2)
|
In 2017, the Company issued Notes (“Certificados Bursátiles”) due 2027, through the BMV in the aggregate principal amount of Ps.4,500,000. Interest rate on the
Notes due 2027 is 8.79% per annum and is payable semi-annually. The Company may, at its own option, redeem the Notes due 2027, in whole or in part, at any semi-annual interest payment date at a redemption price equal to the greater
of the principal amount of the outstanding Notes and the present value of future cash flows, at the redemption date, of principal and interest amounts of the Notes discounted at a fixed rate of comparable Mexican sovereign bonds.
The agreement of the Notes due 2027 contains covenants that limit the ability of the Company and certain restricted subsidiaries appointed by the Company’s Board of Directors, and engaged in the Group’s Content segment, to incur or
assume liens, perform sale and leaseback transactions, and consummate certain mergers, consolidations and similar transactions.
|
|
(3)
|
In 2017, the Company entered into long-term credit agreements with three Mexican banks, in the aggregate principal amount of Ps.6,000,000, with an annual interest
rate payable on a monthly basis of 28-day TIIE plus a range between 125 and 130 basis points, and principal maturities between 2022 and 2023. The proceeds of these loans were used primarily for the prepayment in full of the Senior
Notes due 2018. Under the terms of these loan agreements, the Company is required to: (a) maintain certain financial coverage ratios related to indebtedness and interest expense; and (b) comply with the restrictive covenant on
certain spin-offs, mergers and similar transactions. In July 2019, the Company entered into a credit agreement for a five-year term loan with a syndicate of banks in the aggregate principal amount of Ps.10,000,000. The funds from
this loan were used for general corporate purposes, including the refinancing of the Company’s indebtedness. This loan bears interest at a floating rate based on a spread of 105 or 130 basis points over the 28-day TIIE rate
depending on the Group’s net leverage ratio. The credit agreement of this loan requires the maintenance of financial ratios related to indebtedness and interest expense. During 2018, the Company executed a revolving credit facility
with a syndicate of banks, for up to an amount equivalent to U.S.$618 million payable in Mexican pesos, which funds may be used for the repayment of existing indebtedness and other general corporate purposes. In March 2020, the
Company drew down Ps.14,770,694 under this revolving credit facility, with a maturity in the first quarter of 2022, and interest payable on a monthly basis at a floating rate based on a spread of 87.5 or 112.5 basis points over the
28-day TIIE rate depending on the Group’s net leverage ratio. This facility was used by the Company as a prudent and precautionary measure to increase the Group’s cash position and preserve financial flexibility in light of
uncertainty in the global and local markets resulting from the COVID-19 outbreak. On October 6, 2020, the Company prepaid in full without penalty the principal amount of Ps.14,770,694 under this revolving credit facility. The
Company retained the right to reborrow the facility in an amount of up to the Mexican peso equivalent of U.S.$618 million, and the facility remains available through March 2022.
|
|
(4)
|
In March 2016, Sky entered into long-term credit agreements with two Mexican banks in the aggregate principal amount of Ps.5,500,000, with maturities
between 2021 and 2023, and interest payable on a monthly basis with an annual interest rate in the range of 7.0% and 7.13%. In July 2020, Sky prepaid a portion of these loans in the aggregate cash amount of Ps.2,818,091, which
included principal amount prepayment of Ps.2,750,000, and related accrued interest and transaction costs in the amount of Ps.68,091. Under the terms of these credit agreements, Sky is required to: (a) maintain certain financial
coverage ratios related to indebtedness and interest expense; and (b) comply with the restrictive covenant on spin-offs, mergers and similar transactions.
|
|
(5)
|
As of September 30, 2021 and December 31, 2020, included outstanding balances in the aggregate principal amount of Ps.671,026 and Ps.852,893,
respectively, in connection with credit agreements entered into by TVI with Mexican banks, with maturities between 2020 and 2022, bearing interest at an annual rate of TIIE plus a range between 100 and 125 basis points, which is
payable on a monthly basis. This TVI long- term indebtedness is guaranteed by the Company. Under the terms of these credit agreements, TVI is required to comply with certain restrictive covenants and financial coverage ratios.
|
|
(6)
|
Total debt is presented net of unamortized finance costs as of September 30, 2021 and December 31, 2020, in the aggregate amount of Ps.1,236,369 and
Ps.1,324,307, respectively.
|
|
(7)
|
Under a capital lease agreement entered into with Intelsat Global Sales & Marketing Ltd. (“Intelsat”) in March 2010, Sky is obligated to pay at an
annual interest rate of 7.30% a monthly fee through 2027 of U.S.$3.0 million for satellite signal reception and retransmission service from 24 KU-band transponders on satellite IS-21, which became operational in October 2012. The
service term for IS-21 will end at the earlier of: (a) the end of 15 years or; (b) the date IS-21 is taken out of service (see Note 7).
|
|
(8)
|
As of September 30, 2021 and December 31, 2020, includes lease liabilities recognized beginning on January 1, 2019 under IFRS 16 Leases (“IFRS 16”) in the aggregate amount of Ps.5,019,950 and Ps.4,745,292, respectively. These lease liabilities have terms which expire at various dates between 2021 and 2041. As of September
30, 2021 and December 31, 2020, also includes Ps.590,994 and Ps.728,500, respectively, in connection with a lease agreement entered into by a subsidiary of the Company and GTAC, for the right to use certain capacity of a
telecommunications network through 2029. This lease agreement provides for annual payments through 2029.
|
|
|
September 30, 2021
|
December 31, 2020
|
||||||||||||||
|
Hedged items
|
Millions of
U.S.
dollars
|
Thousands
of Mexican
Pesos
|
Millions of
U.S.
dollars
|
Thousands
of Mexican
Pesos
|
||||||||||||
|
Investment in shares of UHI II and UHI (net investment hedge)
|
U.S.$
|
1,185.7
|
Ps.
|
24,445,826
|
U.S.$
|
1,074.0
|
Ps.
|
21,424,180
|
||||||||
|
Open-Ended Fund (foreign currency fair value hedge)
|
46.8
|
|
964,989
|
56.9
|
1,135,803
|
|||||||||||
|
Total
|
U.S.$
|
1,232.5
|
Ps. |
25,410,815
|
U.S.$
|
1,130.9
|
Ps.
|
22,559,983
|
||||||||
|
Foreign Exchange Gain or Loss Derived from Senior Notes Designated as Hedging Instruments
|
September 30, 2021
|
September 30, 2020
|
||||||
|
Recognized in:
|
||||||||
|
Comprehensive loss
|
Ps.
|
(887,868
|
)
|
Ps.
|
(9,971,720
|
)
|
||
|
Total foreign exchange loss derived from hedging Senior Notes
|
Ps.
|
(887,868
|
)
|
Ps.
|
(9,971,720
|
)
|
||
|
Offset against by:
|
||||||||
|
Foreign currency translation gain derived from the hedged
net investment in shares of UHI II and UHI
|
Ps.
|
776,075
|
Ps.
|
1,808,402
|
||||
|
Foreign exchange gain derived from hedged warrants
issued by UHI
|
-
|
7,381,017
|
||||||
|
Foreign exchange gain derived from the hedged Open-
Ended Fund
|
111,793
|
782,301
|
||||||
|
Total foreign currency translation and foreign
exchange gain derived from hedged assets
|
Ps.
|
887,868
|
Ps.
|
9,971,720
|
||||
|
|
Less than 12
Months
October 1,
2021
to September
30, 2022
|
12-36
Months
October 1,
2022 to
September
30, 2024
|
36-60
Months
October 1,
2024
to September
30, 2026
|
Maturities
Subsequent
to September
30, 2026
|
Total
|
|||||||||||||||
|
Debt (1)
|
Ps.
|
2,046,026
|
Ps.
|
17,375,000
|
Ps.
|
18,556,200
|
Ps.
|
88,693,900
|
Ps.
|
126,671,126
|
||||||||||
|
Lease liabilities
|
1,341,455
|
2,299,676
|
2,456,795
|
3,110,555
|
9,208,481
|
|||||||||||||||
|
Total debt and lease
liabilities
|
Ps.
|
3,387,481
|
Ps.
|
19,674,676
|
Ps.
|
21,012,995
|
Ps.
|
91,804,455
|
Ps.
|
135,879,607
|
||||||||||
| (1) The amounts of debt are disclosed on a principal amount basis. | ||||||||||||||||||||
|
|
September 30, 2021
|
December 31, 2020
|
||||||||||||||
|
|
Carrying Value
|
Fair Value
|
Carrying Value
|
Fair Value
|
||||||||||||
|
Assets:
Cash and cash equivalents
|
Ps.
|
21,704,782
|
Ps.
|
21,704,782
|
Ps.
|
29,058,093
|
Ps.
|
29,058,093
|
||||||||
|
Temporary Investments
|
9,722
|
9,722
|
-
|
-
|
||||||||||||
|
Trade notes and accounts receivable, net
|
15,414,332
|
15,414,332
|
12,343,797
|
12,343,797
|
||||||||||||
|
Long-term loans and interest receivable from GTAC (see Note 5)
|
752,173
|
755,988
|
821,253
|
824,092
|
||||||||||||
|
Open-Ended Fund (see Note 4)
|
964,989
|
964,989
|
1,135,803
|
1,135,803
|
||||||||||||
|
Publicly traded equity instruments (see Note 4)
|
3,181,875
|
3,181,875
|
5,397,504
|
5,397,504
|
||||||||||||
|
Other equity instruments (see Note 4)
|
3,569,525
|
3,569,525
|
468,552
|
468,552
|
||||||||||||
|
Liabilities:
|
||||||||||||||||
|
Senior Notes due 2025, 2032 and 2040
|
Ps.
|
30,927,000
|
Ps.
|
40,982,543
|
Ps.
|
29,923,950
|
Ps.
|
40,584,237
|
||||||||
|
Senior Notes due 2045
|
20,618,000
|
24,954,378
|
19,949,300
|
24,282,886
|
||||||||||||
|
Senior Notes due 2037 and 2043
|
11,000,000
|
8,712,445
|
11,000,000
|
9,238,435
|
||||||||||||
|
Senior Notes due 2026 and 2046
|
24,741,600
|
32,612,769
|
23,939,160
|
31,811,792
|
||||||||||||
|
Senior Notes due 2049
|
15,463,500
|
19,695,705
|
14,961,975
|
18,978,667
|
||||||||||||
|
Notes due 2027
|
4,500,000
|
4,545,630
|
4,500,000
|
5,035,860
|
||||||||||||
|
Long-term notes payable to Mexican banks
|
19,421,026
|
19,537,548
|
19,602,893
|
19,801,142
|
||||||||||||
|
Lease liabilities (1)
|
9,208,481
|
9,230,179
|
9,292,351
|
9,343,100
|
||||||||||||
|
(1)
|
In 2021, includes lease agreements recognized beginning on January 1, 2019 under IFRS 16 for an aggregate amount of
Ps.5,019,950.
|
|
September 30, 2021:
Derivative Financial Instruments
|
|
Carrying Value
|
|
|
Notional Amount
(U.S. Dollars
in Thousands
|
)
|
|
Maturity Date
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
Derivatives recorded as accounting hedges:
(cash flow hedges)
|
|
|
|
|
|
|
|
|
|
|
TVI’s interest rate swap
|
Ps.
|
62
|
|
Ps.
|
96,300
|
|
|
May 2022
|
|
|
TVI’s interest rate swap
|
|
5,493
|
|
Ps.
|
574,726
|
|
|
April 2022
|
|
|
Interest rate swap
|
|
30,647
|
|
Ps.
|
2,000,000
|
|
|
October 2022
|
|
|
Interest rate swap
|
|
24,175
|
|
Ps.
|
1,500,000
|
|
|
October 2022
|
|
|
Interest rate swap
|
|
59,514
|
|
Ps.
|
2,500,000
|
|
|
February 2023
|
|
|
Interest rate swap
|
|
41,624
|
|
Ps.
|
10,000,000
|
|
|
June 2024
|
|
|
Forward
|
|
90,750
|
|
U.S.$
|
111,812
|
|
|
November 2021 through March
2022
|
|
|
Derivatives not recorded as accounting hedges:
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap
|
|
36,852
|
|
Ps.
|
9,385,347
|
|
|
March 2022
|
|
|
TVI’s forward
|
|
37,784
|
|
U.S.$
|
31,535
|
|
|
October 2021 through February 2022
|
|
|
Empresas Cablevisión´s forward
|
|
37,243
|
|
U.S.$
|
34,575
|
|
|
October 2021 through February 2022
|
|
|
Sky’s forward
|
|
100,357
|
|
U.S.$
|
60,000
|
|
|
October 2021 through February 2022
|
|
|
Forward
|
|
124,277
|
|
U.S.$
|
114,430
|
|
|
October 2021 through February 2022
|
|
|
Total liabilities
|
Ps.
|
588,778
|
|
|
|
|
|
|
|
|
December 31, 2020:
Derivative Financial Instruments
|
|
Carrying Value
|
|
|
Notional Amount
(U.S. Dollars
in Thousands
|
)
|
|
Maturity Date
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
Derivatives recorded as accounting hedges:
(cash flow hedges)
|
|
|
|
|
|
|
|
|
|
|
TVI’s interest rate swap
|
Ps.
|
1,759
|
|
Ps.
|
122,400
|
|
|
May 2022
|
|
|
TVI’s interest rate swap
|
|
23,784
|
|
Ps.
|
730,493
|
|
|
April 2022
|
|
|
Interest rate swap
|
|
109,146
|
|
Ps.
|
2,000,000
|
|
|
October 2022
|
|
|
Interest rate swap
|
|
86,171
|
|
Ps.
|
1,500,000
|
|
|
October 2022
|
|
|
Interest rate swap
|
|
180,941
|
|
Ps.
|
2,500,000
|
|
|
February 2023
|
|
|
Interest rate swap
|
|
762,827
|
|
Ps.
|
10,000,000
|
|
|
June 2024
|
|
|
Forward
|
|
714,763
|
|
U.S.$
|
330,500
|
|
|
January 2021 through March 2022
|
|
|
Derivatives not recorded as accounting hedges:
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap
|
|
204,250
|
|
Ps.
|
9,385,347
|
|
|
March 2022
|
|
|
TVI’s forward
|
|
176,868
|
|
U.S.$
|
88,353
|
|
|
January 2021 through February 2022
|
|
|
Empresas Cablevisión´s forward
|
|
190,726
|
|
U.S.$
|
96,789
|
|
|
January 2021 through February 2022
|
|
|
Sky’s forward
|
|
318,701
|
|
U.S.$
|
135,000
|
|
|
February 2021 through February 2022
|
|
|
Forward
|
|
706,287
|
|
U.S.$
|
344,898
|
|
|
January 2021 through February 2022
|
|
|
Total liabilities
|
Ps.
|
3,476,223
|
|
|
|
|
|
|
|
|
|
Authorized and
Issued (1)
|
Repurchased by
the Company (2)
|
Held by a
Company's Trust (3)
|
Outstanding
|
||||||||||||
|
Series “A” Shares
|
121,073.9
|
-
|
(7,539.1
|
)
|
113,534.8
|
|||||||||||
|
Series “B” Shares
|
57,046.9
|
-
|
(5,851.4
|
)
|
51,195.5
|
|||||||||||
|
Series “D” Shares
|
87,006.6
|
-
|
(5,559.3
|
)
|
81,447.3
|
|||||||||||
|
Series “L” Shares
|
87,006.6
|
-
|
(5,559.3
|
)
|
81,447.3
|
|||||||||||
|
Total
|
352,134.0
|
-
|
(24,509.1
|
)
|
327,624.9
|
|||||||||||
|
Shares in the form of CPOs
|
290,849.7
|
-
|
(18,583.9
|
)
|
272,265.8
|
|||||||||||
|
Shares not in the form of CPOs
|
61,284.3
|
-
|
(5,925.2
|
)
|
55,359.1
|
|||||||||||
|
Total
|
352,134.0
|
-
|
(24,509.1
|
)
|
327,624.9
|
|||||||||||
|
CPOs
|
2,485.9
|
-
|
(158.8
|
)
|
2,327.1
|
|||||||||||
|
(1)
|
As of September 30, 2021, the authorized and issued capital stock amounted to Ps.4,836,708 (nominal Ps.2,423,549).
|
|
(2)
|
In connection with a share repurchase program that was approved by the Company’s stockholders and is exercised at the discretion of management.
During the nine months ended September 30, 2021, the Company did not buy any shares under this program. In April 2021, the Company’s stockholders approved the cancellation of 5,173.2 million shares of capital stock in the form
of 44.2 million CPOs which were repurchased by the Company in 2019 and 2020 under this program.
|
|
(3)
|
In connection with the Company’s Long-Term Retention Plan (“LTRP”) described below.
|
|
|
Series “A”
Shares
|
Series “B”
Shares
|
Series “D”
Shares
|
Series “L”
Shares
|
Shares
Outstanding
|
CPOs
Outstanding
|
||||||||||||||||||
|
As of January 1, 2021
|
113,019.2
|
50,928.5
|
81,022.4
|
81,022.4
|
325,992.5
|
2,314.9
|
||||||||||||||||||
|
Acquired (2)
|
(286.4
|
)
|
(252.1
|
)
|
(401.0
|
)
|
(401.0
|
)
|
(1,340.5
|
)
|
(11.4
|
)
|
||||||||||||
|
Forfeited (2)
|
(187.9
|
)
|
(165.4
|
)
|
(263.1
|
)
|
(263.1
|
)
|
(879.5
|
)
|
(7.5
|
)
|
||||||||||||
|
Released (2)
|
989.9
|
684.5
|
1,089.0
|
1,089.0
|
3,852.4
|
31.1
|
||||||||||||||||||
|
As of September 30, 2021
|
113,534.8
|
51,195.5
|
81,447.3
|
81,447.3
|
327,624.9
|
2,327.1
|
||||||||||||||||||
|
|
Series “A”
Shares
|
Series “B”
Shares
|
Series “D”
Shares
|
Series “L”
Shares
|
Shares
Outstanding
|
CPOs
Outstanding
|
||||||||||||||||||
|
As of January 1, 2020
|
116,223.9
|
52,852.8
|
84,083.8
|
84,083.8
|
337,244.3
|
2,402.4
|
||||||||||||||||||
|
Repurchased (1)
|
(131.6
|
)
|
(115.8
|
)
|
(184.3
|
)
|
(184.3
|
)
|
(616.0
|
)
|
(5.3
|
)
|
||||||||||||
|
Cancelled and forfeited (2)
|
(2,063.5
|
)
|
(1,229.0
|
)
|
(1,955.2
|
)
|
(1,955.2
|
)
|
(7,202.9
|
)
|
(55.8
|
)
|
||||||||||||
|
Released (2)
|
110.1
|
96.9
|
154.2
|
154.2
|
515.4
|
4.4
|
||||||||||||||||||
|
As of September 30, 2020
|
114,138.9
|
51,604.9
|
82,098.5
|
82,098.5
|
329,940.8
|
2,345.7
|
||||||||||||||||||
|
(1) Repurchased or cancelled by the Company in connection with a share repurchase program.
(2) Acquired or released by a Company’s trust in connection with the Company’s LTRP
|
||||||||||||||||||||||||
|
|
September 30, 2021
|
December 31, 2020
|
||||||
|
Current receivables:
|
||||||||
|
UHI II in 2021 and UHI in 2020, including Univision (1)
|
Ps.
|
614,051
|
Ps.
|
692,282
|
||||
|
OCEN (see Notes 3 and 5)
|
7,263
|
34,137
|
||||||
|
Editorial Clío, Libros y Videos, S.A. de C.V.
|
2,323
|
2,308
|
||||||
|
Other
|
60,362
|
58,225
|
||||||
|
|
Ps.
|
683,999
|
Ps.
|
786,952
|
||||
|
|
||||||||
|
Current payable:
|
||||||||
|
AT&T/ DirecTV
|
Ps.
|
55,297
|
Ps.
|
32,310
|
||||
|
Other
|
12,469
|
50,697
|
||||||
|
|
Ps.
|
67,766
|
Ps.
|
83,007
|
||||
| (1) As of September 30, 2021 and December 31, 2020, receivables from UHI II and UHI, respectively, related primarily to the PLA amounted to Ps.614,051 and Ps.692,282, respectively. | ||||||||
|
|
September 30, 2021
|
September 30, 2020
|
||||||
|
Net profit on disposal of Radiópolis (1)
|
Ps.
|
-
|
Ps.
|
933,506
|
||||
|
Donations
|
(22,042
|
)
|
(9,042
|
)
|
||||
|
Legal and financial advisory professional services (2)
|
(283,020
|
)
|
(266,432
|
)
|
||||
|
Loss on disposition of property and equipment
|
(127,067
|
)
|
12,125
|
|||||
|
Deferred compensation (3)
|
(106,000
|
)
|
(167,483
|
)
|
||||
|
Dismissal severance expense (4)
|
(125,096
|
)
|
(267,491
|
)
|
||||
|
Expense to prevent COVID-19
|
(139,912
|
)
|
(86,813
|
)
|
||||
|
Surcharges for payment of taxes from prior years
|
(290,659
|
)
|
-
|
|||||
|
Other income in connection with a claim on tariff differences (8)
|
207,568
|
-
|
||||||
|
Impairment adjustments (5)
|
-
|
(27,202
|
)
|
|||||
|
Decrease in provision for UHI related party (6)
|
-
|
387,013
|
||||||
|
Income for cash reimbursement received from Imagina (7)
|
-
|
167,619
|
||||||
|
Other, net
|
40,717
|
(18,439
|
)
|
|||||
|
|
Ps.
|
(845,511
|
)
|
Ps.
|
657,361
|
|||
|
(1)
|
In 2020 included a net profit on disposal of the Group's former Radio business in the amount of $933,506, which was concluded in July 2020 (see Note
3).
|
|
(2)
|
Includes primarily advisory professional services in connection with certain litigation and other matters.
|
|
(3)
|
Includes the service cost of long-term deferred compensation plans for certain officers of the Group’s Cable segment, which become payable in the
event that certain financial targets (as defined) are met.
|
|
(4)
|
Includes severance expense in connection with dismissals of personnel, as a part of a continued cost reduction plan.
|
|
(5)
|
In 2020 included impairment adjustments in connection with trademarks and other intangibles in the Group’s Publishing business.
|
|
(6)
|
In 2020, included a decrease in provision for an appreciation payment arrangement between the Group and a former UHI related party.
|
|
(7)
|
In the second quarter of 2020, the Company received a cash reimbursement from Imagina Media Audiovisual, S.L. (“Imagina”), in connection with a
legal outcome that was favorable to Imagina, a former associated company.
|
|
(8)
|
In the third quarter of 2021, one of the Group’s companies in its Cable segment received a cash payment as a result of a favorable outcome in
connection with a claim made on tariff differences for interconnection services provided in prior years by a third-party vendor.
|
|
|
September 30, 2021
|
September 30, 2020
|
||||||
|
Interest expense (1)
|
Ps.
|
(6,782,675
|
)
|
Ps.
|
(8,202,140
|
)
|
||
|
Other finance expense, net (2)
|
(965,263
|
)
|
-
|
|||||
|
Foreign Exchange loss, net (4)
|
(2,392,442
|
)
|
(3,172,405
|
)
|
||||
|
Finance expense
|
(10,140,380
|
)
|
(11,374,545
|
)
|
||||
|
Interest income (3)
|
573,090
|
950,988
|
||||||
|
Other finance income, net (2)
|
-
|
1,936,686
|
||||||
|
Finance income
|
573,090
|
2,887,674
|
||||||
|
Finance expense, net
|
Ps.
|
(9,567,290
|
)
|
Ps.
|
(8,486,871
|
)
|
||
|
(1)
|
In the nine months ended September 30, 2021 and 2020, included interest expense related to lease liabilities that were recognized in accordance with the
guidelines of IFRS 16, in the aggregate amount of Ps.308,531 and Ps.327,601, respectively.
|
|
(2)
|
Other finance income or expense, net, included gain or loss fair value from derivative financial instruments.
|
|
(3)
|
This line item included primarily interest income from cash equivalents.
|
|
(4)
|
Foreign exchange gain or loss, net, included (i) foreign exchange gain or loss resulted primarily from the appreciation or depreciation of the Mexican
peso against the U.S. dollar on the Group’s U.S.dollar-denominated monetary liability position, excluding long-term debt designated as a hedging instrument of the Group’s investments in UHI II, UHI and Open-Ended Fund, during the
nine months ended September 30, 2021 and 2020; and (ii) foreign exchange gain or loss resulted primarily from the appreciation or depreciation of the Mexican peso against the U.S. dollar on the Group’s U.S. dollar-denominated
monetary asset position during the nine months ended September 30, 2021 and 2020 (see Note 9). The exchange rate of the Mexican peso against the U.S dollar was of Ps.20.6180, Ps.19.9493, Ps.22.1065 and Ps.18.8838 as of September 30,
2021, December 31, 2020, September 30, 2020 and December 31, 2019, respectively.
|
|
|
September 30, 2021
|
September 30, 2020
|
||||||
|
Total Shares
|
Ps.
|
327,063,566
|
Ps. | 330,988,655 |
||||
|
CPOs
|
2,322,925
|
2,353,831
|
||||||
|
Shares not in the form of CPO units:
|
||||||||
|
Series “A” Shares
|
55,280,667
|
55,589,722
|
||||||
|
Series “B” Shares
|
187
|
187
|
||||||
|
Series “D” Shares
|
239
|
239
|
||||||
|
Series “L” Shares
|
239
|
239
|
||||||
|
|
2021
|
2020
|
||||||||||||||
|
|
Per CPO
|
Per Share (*)
|
Per CPO
|
Per Share (*)
|
||||||||||||
|
Net income (loss) attributable to stockholders of the Company
|
Ps.
|
0.85
|
Ps.
|
0.01
|
Ps.
|
(1.61
|
)
|
Ps.
|
(0.01
|
)
|
||||||
| (*) Series “A”, “B”, “D” and “L” Shares, not in the form of CPO units. |
|
|
September 30, 2021
|
September 30, 2020
|
||||||
|
Total Shares
|
Ps.
|
352,134,036
|
Ps.
|
352,272,809
|
||||
|
CPOs
|
2,485,895
|
2,487,081
|
||||||
|
Shares not in the form of CPO units:
|
||||||||
|
Series “A” Shares
|
58,926,613
|
58,926,613
|
||||||
|
Series “B” Shares
|
2,357,208
|
2,357,208
|
||||||
|
Series “D” Shares
|
239
|
239
|
||||||
|
Series “L” Shares
|
239
|
239
|
||||||
|
|
2021
|
2020
|
||||||||||||||
|
|
Per CPO
|
Per Share (*)
|
Per CPO
|
Per Share (*)
|
||||||||||||
|
Net income (loss) attributable to stockholders of the Company
|
Ps.
|
0.79
|
Ps.
|
0.01
|
Ps.
|
(1.51
|
)
|
Ps.
|
(0.01
|
)
|
||||||
|
(*)
|
Series “A”, “B”, “D” and “L” Shares not in the form of CPO units.
|
|
|
Total Revenues
|
Intersegment Revenues
|
Consolidated Revenues
|
Segment
Income
|
|||||||||||||
|
2021:
|
|||||||||||||||||
|
Cable
|
Ps.
|
35,724,684
|
Ps.
|
557,974
|
Ps.
|
35,166,710
|
Ps.
|
14,919,252
|
|||||||||
|
Sky
|
16,654,268
|
452,162
|
16,202,106
|
6,658,765
|
|||||||||||||
|
Content
|
24,382,646
|
3,797,415
|
20,585,231
|
8,335,286
|
|||||||||||||
|
Other Businesses
|
3,580,905
|
824,954
|
2,755,951
|
538,785
|
|||||||||||||
|
Segment total
|
80,342,503
|
5,632,505
|
74,709,998
|
30,452,088
|
|||||||||||||
|
Reconciliation to consolidated amounts:
|
|||||||||||||||||
|
Eliminations and corporate expenses
|
(5,632,505
|
)
|
(5,632,505
|
)
|
-
|
(1,507,431
|
)
|
||||||||||
|
Depreciation and amortization
|
-
|
-
|
-
|
(15,741,813
|
)
|
||||||||||||
|
Consolidated net sales and operating income before other expense
|
74,709,998
|
-
|
74,709,998
|
13,202,844
|
(1) |
||||||||||||
|
Other expense, net
|
-
|
-
|
-
|
(845,511
|
)
|
||||||||||||
|
Consolidated net sales and operating income
|
Ps.
|
74,709,998
|
Ps.
|
-
|
Ps.
|
74,709,998
|
Ps.
|
12,357,333
|
(2) |
||||||||
|
|
Total
Revenues
|
Intersegment Revenues
|
Consolidated Revenues
|
Segment
Income
|
|||||||||||||
|
2020:
|
|||||||||||||||||
|
Cable
|
Ps.
|
33,541,364
|
Ps.
|
510,710
|
Ps.
|
33,030,654
|
Ps.
|
13,943,519
|
|||||||||
|
Sky
|
16,518,049
|
434,531
|
16,083,518
|
6,992,153
|
|||||||||||||
|
Content
|
21,501,537
|
3,464,082
|
18,037,455
|
6,989,383
|
|||||||||||||
|
Other Businesses
|
3,106,072
|
901,998
|
2,204,074
|
(48,170
|
)
|
||||||||||||
|
Segment total
|
74,667,022
|
5,311,321
|
69,355,701
|
27,876,885
|
|||||||||||||
|
Reconciliation to consolidated amounts:
|
|||||||||||||||||
|
Disposed operations (see Note 3)
|
223,272
|
-
|
223,272
|
(3,991
|
)
|
||||||||||||
|
Eliminations and corporate expenses
|
(5,311,321
|
)
|
(5,311,321
|
)
|
-
|
(1,219,888
|
)
|
||||||||||
|
Depreciation and amortization
|
-
|
-
|
-
|
(15,621,499
|
)
|
||||||||||||
|
Consolidated net sales and operating income before other income
|
69,578,973
|
-
|
69,578,973
|
11,031,507
|
(1) |
||||||||||||
|
Other income, net
|
-
|
-
|
-
|
657,361
|
|||||||||||||
|
Consolidated net sales and operating income
|
Ps.
|
69,578,973
|
Ps.
|
-
|
Ps.
|
69,578,973
|
Ps.
|
11,688,868
|
(2) |
||||||||
|
(1)
|
This amount represents operating income before other income or expense, net.
|
|
(2)
|
This amount represents consolidated operating income.
|
|
|
Domestic
|
Export
|
Abroad
|
Total
|
||||||||||||
|
September 30, 2021:
|
||||||||||||||||
|
Cable:
|
||||||||||||||||
|
Digital TV Service
|
Ps.
|
11,946,221
|
Ps.
|
-
|
Ps.
|
-
|
Ps.
|
11,946,221
|
||||||||
|
Advertising
|
1,331,122
|
-
|
-
|
1,331,122
|
||||||||||||
|
Broadband Services
|
13,920,622
|
-
|
-
|
13,920,622
|
||||||||||||
|
Telephony
|
3,702,840
|
-
|
-
|
3,702,840
|
||||||||||||
|
Other Services
|
460,462
|
-
|
-
|
460,462
|
||||||||||||
|
Enterprise Operations
|
4,180,418
|
-
|
182,999
|
4,363,417
|
||||||||||||
|
Sky:
|
||||||||||||||||
|
DTH Broadcast Satellite TV
|
14,520,667
|
-
|
1,167,568
|
15,688,235
|
||||||||||||
|
Advertising
|
926,013
|
-
|
-
|
926,013
|
||||||||||||
|
Pay-Per-View
|
33,518
|
-
|
6,502
|
40,020
|
||||||||||||
|
Content:
|
||||||||||||||||
|
Advertising
|
11,880,273
|
178,598
|
-
|
12,058,871
|
||||||||||||
|
Network Subscription Revenue
|
3,345,948
|
652,340
|
-
|
3,998,288
|
||||||||||||
|
Licensing and Syndication
|
1,325,855
|
6,999,632
|
-
|
8,325,487
|
||||||||||||
|
Other Businesses:
|
||||||||||||||||
|
Gaming
|
1,129,924
|
-
|
-
|
1,129,924
|
||||||||||||
|
Soccer, Sports and Show Business Promotion
|
1,163,589
|
47,463
|
-
|
1,211,052
|
||||||||||||
|
Publishing - Magazines
|
257,792
|
-
|
-
|
257,792
|
||||||||||||
|
Publishing - Advertising
|
92,440
|
-
|
-
|
92,440
|
||||||||||||
|
Publishing Distribution
|
229,069
|
-
|
-
|
229,069
|
||||||||||||
|
Feature Film Production and Distribution
|
596,298
|
-
|
64,330
|
660,628
|
||||||||||||
|
Segment total
|
71,043,071
|
7,878,033
|
1,421,399
|
80,342,503
|
||||||||||||
|
Intersegment eliminations
|
(5,632,505
|
)
|
-
|
-
|
(5,632,505
|
)
|
||||||||||
|
Consolidated total revenues
|
Ps.
|
65,410,566
|
Ps.
|
7,878,033
|
Ps.
|
1,421,399
|
Ps.
|
74,709,998
|
||||||||
|
|
Domestic
|
Export
|
Abroad
|
Total
|
||||||||||||
|
September 30, 2020:
|
||||||||||||||||
|
Cable:
|
||||||||||||||||
|
Digital TV Service
|
Ps.
|
12,471,623
|
Ps.
|
-
|
Ps.
|
-
|
Ps.
|
12,471,623
|
||||||||
|
Advertising
|
1,153,685
|
-
|
-
|
1,153,685
|
||||||||||||
|
Broadband Services
|
12,081,660
|
-
|
-
|
12,081,660
|
||||||||||||
|
Telephony
|
3,168,742
|
-
|
-
|
3,168,742
|
||||||||||||
|
Other Services
|
554,155
|
-
|
-
|
554,155
|
||||||||||||
|
Enterprise Operations
|
3,869,672
|
-
|
241,827
|
4,111,499
|
||||||||||||
|
Sky:
|
||||||||||||||||
|
DTH Broadcast Satellite TV
|
14,481,893
|
-
|
1,171,429
|
15,653,322
|
||||||||||||
|
Advertising
|
828,740
|
-
|
-
|
828,740
|
||||||||||||
|
Pay-Per-View
|
28,122
|
-
|
7,865
|
35,987
|
||||||||||||
|
Content:
|
||||||||||||||||
|
Advertising
|
9,595,903
|
125,804
|
-
|
9,721,707
|
||||||||||||
|
Network Subscription Revenue
|
3,178,920
|
885,541
|
-
|
4,064,461
|
||||||||||||
|
Licensing and Syndication
|
1,015,031
|
6,700,338
|
-
|
7,715,369
|
||||||||||||
|
Other Businesses:
|
||||||||||||||||
|
Gaming
|
740,273
|
-
|
-
|
740,273
|
||||||||||||
|
Soccer, Sports and Show Business Promotion
|
899,091
|
118,461
|
-
|
1,017,552
|
||||||||||||
|
Publishing - Magazines
|
197,162
|
-
|
942
|
198,104
|
||||||||||||
|
Publishing - Advertising
|
107,569
|
-
|
-
|
107,569
|
||||||||||||
|
Publishing Distribution
|
193,685
|
-
|
-
|
193,685
|
||||||||||||
|
Feature Film Production and Distribution
|
759,260
|
-
|
89,629
|
848,889
|
||||||||||||
|
Segment Total
|
65,325,186
|
7,830,144
|
1,511,692
|
74,667,022
|
||||||||||||
|
Disposed operations (see Note 3)
|
223,272
|
-
|
-
|
223,272
|
||||||||||||
|
Intersegment eliminations
|
(5,311,321
|
)
|
-
|
-
|
(5,311,321
|
)
|
||||||||||
|
Consolidated total revenues
|
Ps.
|
60,237,137
|
Ps.
|
7,830,144
|
Ps.
|
1,511,692
|
Ps.
|
69,578,973
|
||||||||
|
See Note 3 for the Disclosure of interim financial reporting
|
||
|
Dividends paid, ordinary shares:
|
[7] 1,053,392,000
|
|
|
Dividends paid, other shares:
|
0
|
|
|
Dividends paid, ordinary shares per share:
|
[8] 0.002991453
|
|
|
Dividends paid, other shares per share:
|
0
|
|
|
Ps.
|
20.6180
|
pesos per US dollar
|
|
|
23.8985
|
pesos per euro
|
||
|
22.1242
|
pesos per swiss franc
|
||
|
27.8136
|
pesos per pound sterling
|
||
|
16.3026
|
pesos per canadian dollar
|
||
|
2.3582
|
pesos per swedish krona
|
||
|
0.0257
|
pesos per chilean peso
|
||
|
0.0054
|
pesos per colombian peso
|
|
STOCK EXCHANGE CODE: TLEVISA
|
QUARTER: 03
|
YEAR: 2021
|
|
GRUPO TELEVISA, S.A.B.
|
|
/s/ Alfonso de Angoitia Noriega
|
/s/ Bernardo Gómez Martínez
|
|
|
ALFONSO DE ANGOITIA NORIEGA
|
BERNARDO GÓMEZ MARTÍNEZ
|
|
|
CO-CHIEF EXECUTIVE OFFICER
|
CO-CHIEF EXECUTIVE OFFICER
|
|
|
/s/ Carlos Phillips Margain
|
/s/ Luis Alejandro Bustos Olivares
|
|
|
CARLOS PHILLIPS MARGAIN
CORPORATE VICE PRESIDENT OF FINANCE |
LUIS ALEJANDRO BUSTOS OLIVARES
LEGAL VICE PRESIDENT AND
GENERAL COUNSEL
|
|
GRUPO TELEVISA, S.A.B.
|
|||
|
(Registrant)
|
|||
|
Dated: October 28, 2021
|
By
|
/s/ Luis Alejandro Bustos Olivares
|
|
| Name: |
Luis Alejandro Bustos Olivares
|
||
|
Title:
|
Legal Vice President and General Counsel
|
||