Televisa Second-quarter 2008 resultsThursday, July 17th, 2008
MEXICO CITY — Grupo Televisa, S.A.B. (NYSE:TV; BMV:TLEVISA CPO) today announced results for second quarter 2008.
Sky DTH (Innova)
Second-quarter sales increased 11.8% to Ps.2,272.5 million compared with Ps.2,032 million in second quarter 2007. This result reflects an increase in the subscriber base in Mexico, Central America, and the Dominican Republic. As of June 30, 2008, the number of gross active subscribers increased to 1,694,330 (including 119,698 commercial subscribers), compared with 1,490,298 (including 104,409 commercial subscribers) as of June 30, 2007. Sky closed the quarter with 71 thousand subscribers in Central America and the Dominican Republic. The company expects to begin operations in Panama in the second half of 2008.
Second-quarter operating segment income increased 13.9% to Ps.1,130.6 million compared with Ps.992.7 million in second quarter 2007, and the margin increased to 49.8%. These results reflect higher sales that were partially offset by higher cost of sales and operating expenses.
Cable and Telecom
Second-quarter sales increased 140.3% to Ps.1,408 million compared with Ps.585.9 million in second quarter 2007. This increase was attributable to i) a 20.1% increase in sales of Cablevisión, which amounted to Ps.703.7, driven mainly by an increase in revenue generating units (RGUs); ii) the consolidation of Bestel, which generated sales of Ps.450.5 million; and iii) the consolidation of Cablemás starting June 1, 2008, which generated sales of Ps.253.8 million.
Second-quarter operating segment income increased 98.6% to Ps.450 million compared with Ps.226.6 million in second quarter 2007, and the margin was 32%. These results reflected higher sales that were partially offset by an increase in costs and expenses related to Bestel and Cablemás. Cablevisión, Bestel, and Cablemás generated operating segment income of Ps.301, Ps.56.6, and Ps.92.4 million, respectively.
2Q 2008 Subscribers:
Cablevisión Cablemás Total ----------- -------- --------- Video 568,479 805,390 1,373,869 Internet 173,049 224,799 397,848 Telephony 22,877 67,012 89,889
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