Televisa’s 2Q 2010 net income falls on higher financing costs

13 Jul 2010

Mexican media giant Grupo Televisa has revealed that in the three months ended 30 June 2010 controlling interest net income fell 1.2% year-on-year to MXN1.804 billion (USD140.8 million), with the company attributing the decline to increases in financing costs and income taxes. Consolidated net sales meanwhile rose by 14% against the same period a year earlier to MXN14.447 billion, up from MXN12.676 billion, with Televisa reporting revenue growth in almost all of its units; only its Publishing and Programme Exports segments registered an annual revenue decline.

For its Cable and Telecom unit the company registered a second-quarter increase in turnover of 32.9% y-o-y to MXN2.900 billion, which it said was the result of adding around 97,000 revenue generating units (RGUs) between subsidiaries Cablevision and Cablemas during the three-month period, and the consolidation of Monterrey-based cable and internet provider Television Internacional (TVI) since October 2009, which added around 67,000 RGUs in the quarter.

At the end of June 2009 Televisa reported that Cablemas led the way in terms of high speed internet customers, with a broadband subscriber base of 325,231, while Cablevision and TVI had 276,762 and 136,124 respectively. In terms of voice customers Cablemas once again was Televisa’s largest subsidiary, with 180,255, with Cablevision and TVI reporting 165,859 and 95,060 respectively.

Mexico, Cablemas (Izzi/Wizz), Cablevision (Izzi)