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Televisa Q2 revenues down 9% to MXN 24.3 bln, profit plunges on reduced ad sales

Thursday 11 July 2019 | 12:13 CET | News

Mexican broadcaster and cable operator Grupo Televisa reported total revenues of MXN 24.3 billion in the second quarter of 2019, down 9.1 percent on the year-earlier result, mainly due to negative exchange rate effects and significantly lower ad spending by the Mexican government and private sector clients compared to the 2018 World Cup year. “The slowdown of the economy and increased volatility in the exchange rate has turned our advertising clients more cautious in regard to their investments in advertising,” said the company.

As a result, Televisa’s net profit plummeted by 78.6 percent year on year to MXN 919.1 million from MXN 4.3 billion a year earlier, attributed to higher financial expenses and an increase in depreciation and amortisation. The only segment to improve its year on year performance was the cable division, with sales up 15.7 percent year on year to MXN 10.2 billion thanks to solid net additions in voice and broadband. 

Total revenue generating units (RGUs) climbed by 1.7 million to 12.4 million on 30 June, thanks in part to 553,000 RGUs acquired from Axtel, including 4.6 million broadband, 4.3 million video and 3.3 million voice subscriptions. However, Televisa’s Sky Mexico unit lost nearly 600,000 customers over the year to reach 7.3 million subscribers at the end of June, with revenues down 5.5 percent to MXN 5.3 billion.


 



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Categories: Broadcast & Satellite
Companies: Sky Mexico / Televisa
Countries: Mexico
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