MEXICO CITY, Feb. 22, 2017 /PRNewswire/ -- Grupo Televisa, S.A.B. (NYSE: TV; BMV: TLEVISA CPO; "Televisa" or the "Company"), today announced results for the Fourth Quarter and Full Year 2016. The results have been prepared in accordance with International Financial Reporting Standards ("IFRS").
- Solid growth in consolidated net sales and in operating segment income of 9.4% and 9.9%, respectively, in the fourth quarter
- Strong growth in advertising revenue of 4.0% during the fourth quarter, and an increase in advertising customer deposits for 2017 of 8.9%
- Univision royalties reach US$90 million in the fourth quarter, a year-over-year growth of 11.8%
- Sky reaches 8 million subscribers and posts a growth in full-year revenues of 14.0%
- Cable revenue growth of 11.9% for the full year with a growth in operating segment income margin of 150 basis points to 41.5%
- Capital expenditures in 2017 expected to come down by US$500 million, or 33% lower than in 2016
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Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite pay television system in Mexico. Televisa distributes the content it produces through several broadcast channels in Mexico and in over 50 countries through 26 pay-tv brands, and television networks, cable operators and over-the-top or "OTT" services. In the United States, Televisa's audiovisual content is distributed through Univision Communications Inc. ("Univision") the leading media company serving the Hispanic market. Univision broadcasts Televisa's audiovisual content through multiple platforms in exchange for a royalty payment. In addition, Televisa has equity and warrants which upon their exercise would represent approximately 36% on a fully-diluted, as-converted basis of the equity capital in Univision Holdings, Inc., the controlling company of Univision. Televisa's cable business offers integrated services, including video, high-speed data and voice services to residential and commercial customers as well as managed services to domestic and international carriers through five cable Multiple System Operators in Mexico. Televisa owns a majority interest in Sky, a leading direct-to-home satellite pay television system in Mexico, operating also in the Dominican Republic and Central America. Televisa also has interests in magazine publishing and distribution, radio production and broadcasting, professional sports and live entertainment, feature-film production and distribution, and gaming.
This press release contains forward-looking statements regarding the Company's results and prospects. Actual results could differ materially from these statements. The forward-looking statements in this press release should be read in conjunction with the factors described in "Item 3. Key Information – Forward-Looking Statements" in the Company's Annual Report on Form 20-F, which, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this press release and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Grupo Televisa, S.A.B.