Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210, Mexico City, Mexico
|
(Address of principal executive offices)
|
Form 20-F
|
x
|
Form 40-F
|
Yes
|
|
No
|
x
|
Yes
|
|
No
|
x
|
TLEVISA
|
Consolidated
|
Ticker: TLEVISA
|
Quarter: 3 Year: 2018
|
3Q’18
|
Margin %
|
3Q’17
|
Margin %
|
Change %
|
|
Net sales
|
25,033.2
|
100.0
|
22,663.0
|
100.0
|
10.5
|
Net income
|
1,479.6
|
5.9
|
1,520.6
|
6.7
|
(2.7)
|
Net income attributable to stockholders of the Company
|
978.0
|
3.9
|
1,014.9
|
4.5
|
(3.6)
|
Segment net sales
|
26,283.8
|
100.0
|
23,594.3
|
100.0
|
11.4
|
Operating segment income (1)
|
10,308.1
|
39.2
|
9,338.1
|
39.6
|
10.4
|
Disclosure of nature of business
|
•
|
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
|
•
|
Elimination of the tax consolidation regime
|
•
|
Limitation of the deduction of non-taxable employee benefits
|
•
|
Increase to the border Value Added Tax rate
|
•
|
Regulations of the General Health Law on advertising
|
•
|
Weaknesses in internal controls over financial reporting
|
•
|
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
|
•
|
Results of operations of UHI
|
•
|
Uncertainty in global financial markets
|
•
|
Renegotiation of Trade Agreements or other changes in foreign policy by the presidential administration in the United States
|
•
|
Political events in Mexico
|
Net Sales
|
3Q’18
|
%
|
3Q’17
|
%
|
Change %
|
Subtotal Content
|
8,700.0
|
33.1
|
8,024.9
|
34.0
|
8.4
|
World Cup rights
|
1,010.1
|
3.8
|
n/a
|
n/a
|
n/a
|
Content
|
9,710.1
|
36.9
|
8,024.9
|
34.0
|
21.0
|
Sky
|
5,407.3
|
20.6
|
5,445.2
|
23.1
|
(0.7)
|
Cable
|
9,219.9
|
35.1
|
8,322.5
|
35.3
|
10.8
|
Other Businesses
|
1,946.5
|
7.4
|
1,801.7
|
7.6
|
8.0
|
Segment Net Sales
|
26,283.8
|
100.0
|
23,594.3
|
100.0
|
11.4
|
Intersegment Operations(1)
|
(1,250.6)
|
(931.3)
|
(34.3)
|
||
Net Sales
|
25,033.2
|
22,663.0
|
10.5
|
Operating Segment Income(2)
|
3Q’18
|
Margin %
|
3Q’17
|
Margin %
|
Change %
|
Subtotal Content
|
3,110.7
|
35.8
|
3,102.1
|
38.7
|
0.3
|
World Cup rights
|
593.3
|
58.7
|
n/a
|
n/a
|
n/a
|
Content
|
3,704.0
|
38.1
|
3,102.1
|
38.7
|
19.4
|
Sky
|
2,569.9
|
47.5
|
2,660.4
|
48.9
|
(3.4)
|
Cable
|
3,907.5
|
42.4
|
3,523.5
|
42.3
|
10.9
|
Other Businesses
|
126.7
|
6.5
|
52.1
|
2.9
|
143.2
|
Operating Segment Income
|
10,308.1
|
39.2
|
9,338.1
|
39.6
|
10.4
|
Corporate Expenses
|
(496.0)
|
(1.9)
|
(550.2)
|
(2.3)
|
9.9
|
Depreciation and Amortization
|
(5,037.8)
|
(20.1)
|
(4,609.2)
|
(20.3)
|
(9.3)
|
Other Expense, net
|
(432.5)
|
(1.7)
|
(500.5)
|
(2.2)
|
13.6
|
Operating Income
|
4,341.8
|
17.3
|
3,678.2
|
16.2
|
18.0
|
Content |
Third-quarter sales increased by 21.0% to Ps.9,710.1 million compared with Ps.8,024.9 million in the third-quarter 2017. Excluding the non-recurring revenue originated in the sublicensing of certain World Cup rights, sales increased 8.4% to Ps.8,700.0 million.
|
Millions of Mexican pesos
|
3Q’18
|
%
|
3Q’17
|
%
|
Change %
|
Advertising
|
5,051.2
|
52.0
|
4,943.8
|
61.6
|
2.2
|
Network Subscription Revenue
|
1,182.8
|
12.2
|
929.7
|
11.6
|
27.2
|
Licensing and Syndication
|
2,466.0
|
25.4
|
2,151.4
|
26.8
|
14.6
|
Subtotal Content
|
8,700.0
|
89.6
|
8,024.9
|
100.0
|
8.4
|
World Cup rights
|
1,010.1
|
10.4
|
n/a
|
n/a
|
n/a
|
Net Sales
|
9,710.1
|
100.0
|
8,024.9
|
100.0
|
21.0
|
Advertising
Third-quarter Advertising revenue increased by 2.2% to Ps.5,051.2 million compared with Ps.4,943.8 million in the third-quarter 2017. This is the third consecutive quarter with growth in advertising sales. Year to date, advertising sales growth is 5.0%, which has resulted primarily from the change in the pricing mechanism for our advertising inventory.
|
Sky |
Third-quarter sales decreased by 0.7% to Ps.5,407.3 million compared to Ps.5,445.2 million in the third-quarter 2017. The number of net active subscribers decreased by 125,824 during the quarter to 7,835,657 as of September 30, 2018. Sky ended the quarter with 159,894 subscribers in Central America and the Dominican Republic.
|
Cable |
Third-quarter sales increased by 10.8% to Ps.9,219.9 million compared with Ps.8,322.5 million in the third-quarter 2017 driven by the addition of 62 thousand broadband Revenue Generating Units (“RGUs”) and 247 thousand voice RGUs.
|
RGUs
|
3Q’18
|
3Q’17
|
Video
|
4,281,125
|
4,123,373
|
Broadband
|
4,168,248
|
3,640,132
|
Voice
|
2,519,972
|
2,099,065
|
Total RGUs
|
10,969,345
|
9,862,570
|
MSO Operations (1)
Millions of Mexican pesos
|
3Q’18
|
3Q’17
|
Change %
|
Revenue
|
8,220.9
|
7,303.4
|
12.6
|
Operating Segment Income
|
3,548.5
|
3,141.2
|
13.0
|
Margin (%)
|
43.2
|
43.0
|
|
Enterprise Operations (1)
Millions of Mexican pesos
|
3Q’18
|
3Q’17
|
Change %
|
Revenue
|
1,358.2
|
1,303.4
|
4.2
|
Operating Segment Income
|
492.3
|
492.1
|
0.0
|
Margin (%)
|
36.2
|
37.8
|
(1) These results do not include consolidation adjustments of Ps.359.2 million in revenues nor Ps.133.3 million in Operating Segment Income for the third quarter 2018, neither the consolidation adjustments of Ps.284.3 million in revenues nor Ps.109.8 million in Operating Segment Income for the third quarter 2017. Consolidation adjustments are considered in the consolidated results of the Cable segment.
|
Other Businesses |
Third-quarter sales increased by 8.0% to Ps.1,946.5 million compared with Ps.1,801.7 million in the third-quarter 2017. This increase is explained mainly by (i) an increase in the revenues of our feature-film distribution business; and (ii) an increase in the revenues of our gaming business. This effect was partially compensated by a decrease in the revenues of our publishing business.
|
Third-quarter operating segment income increased by 143.2% to Ps.126.7 million compared with Ps.52.1 million in the third-quarter 2017, and the margin reached 6.5%. These results are mainly explained by a decrease in the operating segment loss related to soccer and publishing businesses.
|
3Q’18
|
3Q’17
|
(Increase) Decrease
|
|
Interest expense
|
(2,395.1)
|
(2,194.1)
|
(201.0)
|
Interest income
|
419.3
|
334.7
|
84.6
|
Foreign exchange gain (loss), net
|
17.0
|
(119.7)
|
136.7
|
Other finance (expense) income, net
|
(530.5)
|
57.5
|
(588.0)
|
Finance expense, net
|
(2,489.3)
|
(1,921.6)
|
(567.7)
|
Sep 30, 2018
|
Dec 31, 2017
|
Increase (decrease)
|
|
Current portion of long-term debt
|
1,004.4
|
307.0
|
697.4
|
Long-term debt, net of current portion
|
117,354.0
|
121,993.1
|
(4,639.1)
|
Total debt (1)
|
118,358.4
|
122,300.1
|
(3,941.7)
|
Current portion of long-term finance lease obligations
|
683.5
|
580.9
|
102.6
|
Long-term finance lease obligations, net of current portion
|
4,523.4
|
5,041.9
|
(518.5)
|
Total finance lease obligations
|
5,206.9
|
5,622.8
|
(415.9)
|
Current portion of other notes payable
|
1,279.5
|
1,178.4
|
101.1
|
Other notes payable, net of current portion
|
1,279.5
|
2,505.6
|
(1,226.1)
|
Total other notes payable (2)
|
2,559.0
|
3,684.0
|
(1,125.0)
|
3Q’18
|
Margin %
|
3Q’17
|
Margin %
|
Change %
|
|
Net sales
|
25,033.2
|
100.0
|
22,663.0
|
100.0
|
10.5
|
Net income
|
1,479.6
|
5.9
|
1,520.6
|
6.7
|
(2.7)
|
Net income attributable to stockholders of the Company
|
978.0
|
3.9
|
1,014.9
|
4.5
|
(3.6)
|
Segment net sales
|
26,283.8
|
100.0
|
23,594.3
|
100.0
|
11.4
|
Operating segment income (1)
|
10,308.1
|
39.2
|
9,338.1
|
39.6
|
10.4
|
Net Sales
|
3Q’18
|
%
|
3Q’17
|
%
|
Change %
|
Subtotal Content
|
8,700.0
|
33.1
|
8,024.9
|
34.0
|
8.4
|
World Cup rights
|
1,010.1
|
3.8
|
n/a
|
n/a
|
n/a
|
Content
|
9,710.1
|
36.9
|
8,024.9
|
34.0
|
21.0
|
Sky
|
5,407.3
|
20.6
|
5,445.2
|
23.1
|
(0.7)
|
Cable
|
9,219.9
|
35.1
|
8,322.5
|
35.3
|
10.8
|
Other Businesses
|
1,946.5
|
7.4
|
1,801.7
|
7.6
|
8.0
|
Segment Net Sales
|
26,283.8
|
100.0
|
23,594.3
|
100.0
|
11.4
|
Intersegment Operations(1)
|
(1,250.6)
|
(931.3)
|
(34.3)
|
||
Net Sales
|
25,033.2
|
22,663.0
|
10.5
|
Operating Segment Income(2)
|
3Q’18
|
Margin %
|
3Q’17
|
Margin %
|
Change %
|
Subtotal Content
|
3,110.7
|
35.8
|
3,102.1
|
38.7
|
0.3
|
World Cup rights
|
593.3
|
58.7
|
n/a
|
n/a
|
n/a
|
Content
|
3,704.0
|
38.1
|
3,102.1
|
38.7
|
19.4
|
Sky
|
2,569.9
|
47.5
|
2,660.4
|
48.9
|
(3.4)
|
Cable
|
3,907.5
|
42.4
|
3,523.5
|
42.3
|
10.9
|
Other Businesses
|
126.7
|
6.5
|
52.1
|
2.9
|
143.2
|
Operating Segment Income
|
10,308.1
|
39.2
|
9,338.1
|
39.6
|
10.4
|
Corporate Expenses
|
(496.0)
|
(1.9)
|
(550.2)
|
(2.3)
|
9.9
|
Depreciation and Amortization
|
(5,037.8)
|
(20.1)
|
(4,609.2)
|
(20.3)
|
(9.3)
|
Other Expense, net
|
(432.5)
|
(1.7)
|
(500.5)
|
(2.2)
|
13.6
|
Operating Income
|
4,341.8
|
17.3
|
3,678.2
|
16.2
|
18.0
|
Ticker:
|
TLEVISA
|
Period covered by financial statements:
|
2018-01-01 to 2018-09-30
|
Date of end of reporting period:
|
2018-09-30
|
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
2018-09-30
|
Close Previous Exercise
2017-12-31
|
Statement of financial position
|
||
Assets
|
||
Current assets
|
||
Cash and cash equivalents
|
42,426,757,000.00
|
38,734,949,000.00
|
Trade and other current receivables
|
23,687,944,000.00
|
30,357,412,000.00
|
Current tax assets, current
|
1,890,313,000.00
|
3,039,810,000.00
|
Other current financial assets
|
114,221,000.00
|
1,586,219,000.00
|
Current inventories
|
1,045,297,000.00
|
1,492,947,000.00
|
Current biological assets
|
0
|
0
|
Other current non-financial assets
|
[1] 7,328,131,000.00
|
5,890,866,000.00
|
Total current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
76,492,663,000.00
|
81,102,203,000.00
|
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
0
|
0
|
Total current assets
|
76,492,663,000.00
|
81,102,203,000.00
|
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
|
49,140,989,000.00
|
50,688,185,000.00
|
Investments accounted for using equity method
|
0
|
0
|
Investments in subsidiaries, joint ventures and associates
|
10,605,898,000.00
|
14,110,752,000.00
|
Property, plant and equipment
|
84,265,782,000.00
|
85,719,810,000.00
|
Investment property
|
0
|
0
|
Goodwill
|
14,112,626,000.00
|
14,112,626,000.00
|
Intangible assets other than goodwill
|
20,901,164,000.00
|
21,773,808,000.00
|
Deferred tax assets
|
20,766,784,000.00
|
21,355,044,000.00
|
Other non-current non-financial assets
|
[2] 11,679,594,000.00
|
8,357,673,000.00
|
Total non-current assets
|
211,472,837,000.00
|
216,117,898,000.00
|
Total assets
|
287,965,500,000.00
|
297,220,101,000.00
|
Equity and liabilities
|
||
Liabilities
|
||
Current liabilities
|
||
Trade and other current payables
|
35,628,110,000.00
|
44,353,813,000.00
|
Current tax liabilities, current
|
3,073,280,000.00
|
2,524,349,000.00
|
Other current financial liabilities
|
4,741,374,000.00
|
3,863,189,000.00
|
Other current non-financial liabilities
|
0
|
0
|
Current provisions
|
||
Current provisions for employee benefits
|
0
|
0
|
Other current provisions
|
840,000.00
|
23,466,000.00
|
Total current provisions
|
840,000.00
|
23,466,000.00
|
Total current liabilities other than liabilities included in disposal groups classified as held for sale
|
43,443,604,000.00
|
50,764,817,000.00
|
Liabilities included in disposal groups classified as held for sale
|
0
|
0
|
Total current liabilities
|
43,443,604,000.00
|
50,764,817,000.00
|
Non-current liabilities
|
||
Trade and other non-current payables
|
3,807,557,000.00
|
2,719,236,000.00
|
Current tax liabilities, non-current
|
3,027,383,000.00
|
4,730,620,000.00
|
Other non-current financial liabilities
|
123,168,336,000.00
|
129,540,643,000.00
|
Other non-current non-financial liabilities
|
0
|
0
|
Concept
|
Close Current Quarter
2018-09-30
|
Close Previous Exercise
2017-12-31
|
Non-current provisions
|
||
Non-current provisions for employee benefits
|
808,362,000.00
|
716,095,000.00
|
Other non-current provisions
|
53,685,000.00
|
54,263,000.00
|
Total non-current provisions
|
862,047,000.00
|
770,358,000.00
|
Deferred tax liabilities
|
8,090,659,000.00
|
9,037,513,000.00
|
Total non-current liabilities
|
138,955,982,000.00
|
146,798,370,000.00
|
Total liabilities
|
182,399,586,000.00
|
197,563,187,000.00
|
Equity
|
||
Issued capital
|
4,907,765,000.00
|
4,978,126,000.00
|
Share premium
|
15,889,819,000.00
|
15,889,819,000.00
|
Treasury shares
|
12,955,769,000.00
|
14,788,984,000.00
|
Retained earnings
|
78,487,499,000.00
|
74,432,547,000.00
|
Other reserves
|
4,484,698,000.00
|
5,150,256,000.00
|
Total equity attributable to owners of parent
|
90,814,012,000.00
|
85,661,764,000.00
|
Non-controlling interests
|
14,751,902,000.00
|
13,995,150,000.00
|
Total equity
|
105,565,914,000.00
|
99,656,914,000.00
|
Total equity and liabilities
|
287,965,500,000.00
|
297,220,101,000.00
|
Concept
|
Accumulated Current Year
2018-01-01 - 2018-09-30
|
Accumulated Previous Year
2017-01-01 - 2017-09-30
|
Quarter Current Year
2018-07-01 - 2018-09-30
|
Quarter Previous Year
2017-07-01 - 2017-09-30
|
Profit or loss
|
||||
Profit (loss)
|
||||
Revenue
|
74,547,082,000.00
|
67,594,221,000.00
|
25,033,234,000.00
|
22,663,029,000.00
|
Cost of sales
|
42,348,862,000.00
|
38,068,328,000.00
|
14,208,501,000.00
|
12,592,025,000.00
|
Gross profit
|
32,198,220,000.00
|
29,525,893,000.00
|
10,824,733,000.00
|
10,071,004,000.00
|
Distribution costs
|
8,037,409,000.00
|
7,570,152,000.00
|
2,609,679,000.00
|
2,472,521,000.00
|
Administrative expenses
|
10,223,839,000.00
|
10,045,411,000.00
|
3,440,751,000.00
|
3,419,804,000.00
|
Other income
|
2,651,374,000.00
|
0
|
0
|
0
|
Other expense
|
0
|
1,296,850,000.00
|
432,463,000.00
|
500,501,000.00
|
Profit (loss) from operating activities
|
16,588,346,000.00
|
10,613,480,000.00
|
4,341,840,000.00
|
3,678,178,000.00
|
Finance income
|
1,685,154,000.00
|
2,845,185,000.00
|
436,195,000.00
|
392,160,000.00
|
Finance costs
|
8,150,386,000.00
|
6,690,433,000.00
|
2,925,538,000.00
|
2,313,831,000.00
|
Share of profit (loss) of associates and joint ventures accounted for using equity method
|
910,893,000.00
|
1,020,707,000.00
|
326,609,000.00
|
670,041,000.00
|
Profit (loss) before tax
|
11,034,007,000.00
|
7,788,939,000.00
|
2,179,106,000.00
|
2,426,548,000.00
|
Tax income (expense)
|
3,798,702,000.00
|
2,672,602,000.00
|
699,487,000.00
|
906,006,000.00
|
Profit (loss) from continuing operations
|
7,235,305,000.00
|
5,116,337,000.00
|
1,479,619,000.00
|
1,520,542,000.00
|
Profit (loss) from discontinued operations
|
0
|
0
|
0
|
0
|
Profit (loss)
|
7,235,305,000.00
|
5,116,337,000.00
|
1,479,619,000.00
|
1,520,542,000.00
|
Profit (loss), attributable to
|
||||
Profit (loss), attributable to owners of parent
|
5,952,941,000.00
|
3,630,051,000.00
|
978,011,000.00
|
1,014,900,000.00
|
Profit (loss), attributable to non-controlling interests
|
1,282,364,000.00
|
1,486,286,000.00
|
501,608,000.00
|
505,642,000.00
|
Earnings per share
|
||||
Earnings per share
|
||||
Earnings per share
|
||||
Basic earnings per share
|
||||
Basic earnings (loss) per share from continuing operations
|
2.05
|
1.24
|
0.34
|
0.35
|
Basic earnings (loss) per share from discontinued operations
|
0
|
0
|
0
|
0
|
Total basic earnings (loss) per share
|
[3] 2.05
|
1.24
|
0.34
|
0.35
|
Diluted earnings per share
|
||||
Diluted earnings (loss) per share from continuing operations
|
1.94
|
1.18
|
0.32
|
0.33
|
Diluted earnings (loss) per share from discontinued operations
|
0
|
0
|
0
|
0
|
Total diluted earnings (loss) per share
|
[4] 1.94
|
1.18
|
0.32
|
0.33
|
Concept
|
Accumulated Current Year
2018-01-01 - 2018-09-30
|
Accumulated Previous Year
2017-01-01 - 2017-09-30
|
Quarter Current Year
2018-07-01 - 2018-09-30
|
Quarter Previous Year
2017-07-01 - 2017-09-30
|
Statement of comprehensive income
|
||||
Profit (loss)
|
7,235,305,000.00
|
5,116,337,000.00
|
1,479,619,000.00
|
1,520,542,000.00
|
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
|
0
|
0
|
0
|
0
|
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
|
0
|
0
|
0
|
0
|
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
|
(1,135,041,000.00)
|
(537,629,000.00)
|
(479,229,000.00)
|
188,204,000.00
|
Reclassification adjustments on exchange differences on translation, net of tax
|
0
|
0
|
0
|
0
|
Other comprehensive income, net of tax, exchange differences on translation
|
(1,135,041,000.00)
|
(537,629,000.00)
|
(479,229,000.00)
|
188,204,000.00
|
Available-for-sale financial assets
|
||||
Gains (losses) on remeasuring available-for-sale financial assets, net of tax
|
576,873,000.00
|
1,428,108,000.00
|
1,040,186,000.00
|
577,951,000.00
|
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
|
576,873,000.00
|
1,428,108,000.00
|
1,040,186,000.00
|
577,951,000.00
|
Cash flow hedges
|
||||
Gains (losses) on cash flow hedges, net of tax
|
(215,390,000.00)
|
(453,660,000.00)
|
(266,420,000.00)
|
123,043,000.00
|
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
|
(215,390,000.00)
|
(453,660,000.00)
|
(266,420,000.00)
|
123,043,000.00
|
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
|
Concept
|
Accumulated Current Year
2018-01-01 - 2018-09-30
|
Accumulated Previous Year
2017-01-01 - 2017-09-30
|
Quarter Current Year
2018-07-01 - 2018-09-30
|
Quarter Previous Year
2017-07-01 - 2017-09-30
|
Change in value of time value of options
|
||||
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
|
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
|
64,068,000.00
|
1,432,000.00
|
20,215,000.00
|
6,261,000.00
|
Total other comprehensive income that will be reclassified to profit or loss, net of tax
|
(709,490,000.00)
|
438,251,000.00
|
314,752,000.00
|
895,459,000.00
|
Total other comprehensive income
|
(709,490,000.00)
|
438,251,000.00
|
314,752,000.00
|
895,459,000.00
|
Total comprehensive income
|
6,525,815,000.00
|
5,554,588,000.00
|
1,794,371,000.00
|
2,416,001,000.00
|
Comprehensive income attributable to
|
||||
Comprehensive income, attributable to owners of parent
|
5,287,383,000.00
|
4,177,606,000.00
|
1,396,783,000.00
|
1,910,337,000.00
|
Comprehensive income, attributable to non-controlling interests
|
1,238,432,000.00
|
1,376,982,000.00
|
397,588,000.00
|
505,664,000.00
|
Concept
|
Accumulated Current Year
2018-01-01 - 2018-09-30
|
Accumulated Previous Year
2017-01-01 - 2017-09-30
|
Statement of cash flows
|
||
Cash flows from (used in) operating activities
|
||
Profit (loss)
|
7,235,305,000.00
|
5,116,337,000.00
|
Adjustments to reconcile profit (loss)
|
||
Discontinued operations
|
0
|
0
|
Adjustments for income tax expense
|
3,798,702,000.00
|
2,672,602,000.00
|
Adjustments for finance costs
|
0
|
0
|
Adjustments for depreciation and amortisation expense
|
14,686,728,000.00
|
13,731,734,000.00
|
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss
|
34,564,000.00
|
73,390,000.00
|
Adjustments for provisions
|
1,285,309,000.00
|
1,956,439,000.00
|
Adjustments for unrealised foreign exchange losses (gains)
|
(1,585,924,000.00)
|
(5,111,371,000.00)
|
Adjustments for share-based payments
|
1,010,302,000.00
|
1,114,078,000.00
|
Adjustments for fair value losses (gains)
|
1,113,426,000.00
|
(9,164,000.00)
|
Adjustments for undistributed profits of associates
|
0
|
0
|
Adjustments for losses (gains) on disposal of non-current assets
|
676,356,000.00
|
819,080,000.00
|
Participation in associates and joint ventures
|
(910,893,000.00)
|
(1,020,707,000.00)
|
Adjustments for decrease (increase) in inventories
|
(734,812,000.00)
|
(329,655,000.00)
|
Adjustments for decrease (increase) in trade accounts receivable
|
8,270,566,000.00
|
10,045,329,000.00
|
Adjustments for decrease (increase) in other operating receivables
|
(2,516,177,000.00)
|
(1,425,324,000.00)
|
Adjustments for increase (decrease) in trade accounts payable
|
(248,312,000.00)
|
(3,779,525,000.00)
|
Adjustments for increase (decrease) in other operating payables
|
(7,335,641,000.00)
|
(11,643,828,000.00)
|
Other adjustments for non-cash items
|
0
|
0
|
Other adjustments for which cash effects are investing or financing cash flow
|
(3,582,681,000.00)
|
(26,000.00)
|
Straight-line rent adjustment
|
0
|
0
|
Amortization of lease fees
|
0
|
0
|
Setting property values
|
0
|
0
|
Other adjustments to reconcile profit (loss)
|
301,347,000.00
|
681,141,000.00
|
Total adjustments to reconcile profit (loss)
|
14,262,860,000.00
|
7,774,193,000.00
|
Net cash flows from (used in) operations
|
21,498,165,000.00
|
12,890,530,000.00
|
Dividends paid
|
0
|
0
|
Dividends received
|
0
|
0
|
Interest paid
|
(7,036,960,000.00)
|
(6,690,433,000.00)
|
Interest received
|
(95,395,000.00)
|
(73,750,000.00)
|
Income taxes refund (paid)
|
5,396,951,000.00
|
5,333,484,000.00
|
Other inflows (outflows) of cash
|
0
|
0
|
Net cash flows from (used in) operating activities
|
23,042,779,000.00
|
14,173,729,000.00
|
Cash flows from (used in) investing activities
|
||
Cash flows from losing control of subsidiaries or other businesses
|
0
|
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
|
5,890,520,000.00
|
26,000.00
|
Other cash payments to acquire equity or debt instruments of other entities
|
0
|
0
|
Other cash receipts from sales of interests in joint ventures
|
95,161,000.00
|
0
|
Other cash payments to acquire interests in joint ventures
|
0
|
182,500,000.00
|
Proceeds from sales of property, plant and equipment
|
956,727,000.00
|
563,186,000.00
|
Purchase of property, plant and equipment
|
12,740,872,000.00
|
11,497,184,000.00
|
Proceeds from sales of intangible assets
|
0
|
0
|
Purchase of intangible assets
|
1,540,012,000.00
|
1,205,043,000.00
|
Proceeds from sales of other long-term assets
|
0
|
0
|
Purchase of other long-term assets
|
0
|
0
|
Concept
|
Accumulated Current Year
2018-01-01 - 2018-09-30
|
Accumulated Previous Year
2017-01-01 - 2017-09-30
|
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 future contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
Cash receipts from future contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
Dividends received
|
0
|
0
|
Interest paid
|
0
|
0
|
Interest received
|
0
|
0
|
Income taxes refund (paid)
|
0
|
0
|
Other inflows (outflows) of cash
|
416,189,000.00
|
283,660,000.00
|
Net cash flows from (used in) investing activities
|
(6,922,287,000.00)
|
(12,037,855,000.00)
|
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
|
1,184,020,000.00
|
1,292,438,000.00
|
Proceeds from issuing shares
|
0
|
0
|
Proceeds from issuing other equity instruments
|
0
|
0
|
Payments to acquire or redeem entity's shares
|
1,541,180,000.00
|
0
|
Payments of other equity instruments
|
0
|
0
|
Proceeds from borrowings
|
0
|
0
|
Repayments of borrowings
|
230,617,000.00
|
774,787,000.00
|
Payments of finance lease liabilities
|
334,638,000.00
|
450,509,000.00
|
Proceeds from government grants
|
0
|
0
|
Dividends paid
|
1,068,868,000.00
|
1,084,192,000.00
|
Interest paid
|
7,014,365,000.00
|
6,688,340,000.00
|
Income taxes refund (paid)
|
0
|
0
|
Other inflows (outflows) of cash
|
(952,377,000.00)
|
(515,298,000.00)
|
Net cash flows from (used in) financing activities
|
(12,326,065,000.00)
|
(10,805,564,000.00)
|
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes
|
3,794,427,000.00
|
(8,669,690,000.00)
|
Effect of exchange rate changes on cash and cash equivalents
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(102,619,000.00)
|
(217,837,000.00)
|
Net increase (decrease) in cash and cash equivalents
|
3,691,808,000.00
|
(8,887,527,000.00)
|
Cash and cash equivalents at beginning of period
|
38,734,949,000.00
|
47,546,083,000.00
|
Cash and cash equivalents at end of period
|
42,426,757,000.00
|
38,658,556,000.00
|
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
|
4,978,126,000.00
|
15,889,819,000.00
|
14,788,984,000.00
|
74,432,547,000.00
|
0
|
2,298,822,000.00
|
561,412,000.00
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
5,952,941,000.00
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
(1,091,109,000.00)
|
(215,390,000.00)
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
0
|
5,952,941,000.00
|
0
|
(1,091,109,000.00)
|
(215,390,000.00)
|
0
|
0
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
1,068,868,000.00
|
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
|
1,480,774,000.00
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through treasury share transactions, equity
|
(70,361,000.00)
|
0
|
(2,764,562,000.00)
|
(2,694,201,000.00)
|
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
|
931,347,000.00
|
384,306,000.00
|
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
|
(70,361,000.00)
|
0
|
(1,833,215,000.00)
|
4,054,952,000.00
|
0
|
(1,091,109,000.00)
|
(215,390,000.00)
|
0
|
0
|
Equity at end of period
|
4,907,765,000.00
|
15,889,819,000.00
|
12,955,769,000.00
|
78,487,499,000.00
|
0
|
1,207,713,000.00
|
346,022,000.00
|
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 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
|
Reserve for catastrophe
|
Statement of changes in equity
|
|||||||||
Equity at beginning of period
|
0
|
0
|
2,747,704,000.00
|
0
|
(665,739,000.00)
|
0
|
0
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
576,873,000.00
|
0
|
0
|
0
|
0
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
576,873,000.00
|
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
|
576,873,000.00
|
0
|
0
|
0
|
0
|
0
|
0
|
Equity at end of period
|
0
|
0
|
3,324,577,000.00
|
0
|
(665,739,000.00)
|
0
|
0
|
0
|
0
|
Components of equity
|
|||||||
Sheet 3 of 3
|
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
|
208,057,000.00
|
5,150,256,000.00
|
85,661,764,000.00
|
13,995,150,000.00
|
99,656,914,000.00
|
Changes in equity
|
|||||||
Comprehensive income
|
|||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
5,952,941,000.00
|
1,282,364,000.00
|
7,235,305,000.00
|
Other comprehensive income
|
0
|
0
|
64,068,000.00
|
(665,558,000.00)
|
(665,558,000.00)
|
(43,932,000.00)
|
(709,490,000.00)
|
Total comprehensive income
|
0
|
0
|
64,068,000.00
|
(665,558,000.00)
|
5,287,383,000.00
|
1,238,432,000.00
|
6,525,815,000.00
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
1,068,868,000.00
|
1,265,512,000.00
|
2,334,380,000.00
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
1,480,774,000.00
|
783,832,000.00
|
2,264,606,000.00
|
Increase (decrease) through treasury share transactions, equity
|
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
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
(547,041,000.00)
|
0
|
(547,041,000.00)
|
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
|
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
|
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
|
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
|
Total increase (decrease) in equity
|
0
|
0
|
64,068,000.00
|
(665,558,000.00)
|
5,152,248,000.00
|
756,752,000.00
|
5,909,000,000.00
|
Equity at end of period
|
0
|
0
|
272,125,000.00
|
4,484,698,000.00
|
90,814,012,000.00
|
14,751,902,000.00
|
105,565,914,000.00
|
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
|
4,978,126,000.00
|
15,889,819,000.00
|
11,433,482,000.00
|
70,395,669,000.00
|
0
|
1,989,164,000.00
|
399,181,000.00
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
3,630,051,000.00
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
(428,325,000.00)
|
(453,660,000.00)
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
0
|
3,630,051,000.00
|
0
|
(428,325,000.00)
|
(453,660,000.00)
|
0
|
0
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
1,084,192,000.00
|
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
|
406,201,000.00
|
846,712,000.00
|
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
|
406,201,000.00
|
3,392,571,000.00
|
0
|
(428,325,000.00)
|
(453,660,000.00)
|
0
|
0
|
Equity at end of period
|
4,978,126,000.00
|
15,889,819,000.00
|
11,839,683,000.00
|
73,788,240,000.00
|
0
|
1,560,839,000.00
|
(54,479,000.00)
|
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 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
|
Reserve for catastrophe
|
Statement of changes in equity
|
|||||||||
Equity at beginning of period
|
0
|
0
|
1,686,836,000.00
|
0
|
(381,794,000.00)
|
0
|
0
|
0
|
0
|
Changes in equity
|
|||||||||
Comprehensive income
|
|||||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Other comprehensive income
|
0
|
0
|
1,428,108,000.00
|
0
|
0
|
0
|
0
|
0
|
0
|
Total comprehensive income
|
0
|
0
|
1,428,108,000.00
|
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
|
1,428,108,000.00
|
0
|
0
|
0
|
0
|
0
|
0
|
Equity at end of period
|
0
|
0
|
3,114,944,000.00
|
0
|
(381,794,000.00)
|
0
|
0
|
0
|
0
|
Components of equity
|
|||||||
Sheet 3 of 3
|
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
|
268,397,000.00
|
3,961,784,000.00
|
83,791,916,000.00
|
12,492,484,000.00
|
96,284,400,000.00
|
Changes in equity
|
|||||||
Comprehensive income
|
|||||||
Profit (loss)
|
0
|
0
|
0
|
0
|
3,630,051,000.00
|
1,486,286,000.00
|
5,116,337,000.00
|
Other comprehensive income
|
0
|
0
|
1,432,000.00
|
547,555,000.00
|
547,555,000.00
|
(109,304,000.00)
|
438,251,000.00
|
Total comprehensive income
|
0
|
0
|
1,432,000.00
|
547,555,000.00
|
4,177,606,000.00
|
1,376,982,000.00
|
5,554,588,000.00
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
1,084,192,000.00
|
452,617,000.00
|
1,536,809,000.00
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
(193,000.00)
|
(193,000.00)
|
Increase (decrease) through treasury share transactions, equity
|
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
|
(11,050,000.00)
|
(11,050,000.00)
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
440,511,000.00
|
0
|
440,511,000.00
|
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
|
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
|
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
|
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
|
Total increase (decrease) in equity
|
0
|
0
|
1,432,000.00
|
547,555,000.00
|
3,533,925,000.00
|
913,122,000.00
|
4,447,047,000.00
|
Equity at end of period
|
0
|
0
|
269,829,000.00
|
4,509,339,000.00
|
87,325,841,000.00
|
13,405,606,000.00
|
100,731,447,000.00
|
Concept
|
Close Current Quarter
2018-09-30
|
Close Previous Exercise
2017-12-31
|
Informative data of the Statement of Financial Position
|
||
Capital stock (nominal)
|
2,459,154,000.00
|
2,494,410,000.00
|
Restatement of capital stock
|
2,448,611,000.00
|
2,483,716,000.00
|
Plan assets for pensions and seniority premiums
|
1,602,746,000.00
|
1,652,420,000.00
|
Number of executives
|
71
|
73
|
Number of employees
|
39,225
|
39,915
|
Number of workers
|
0
|
0
|
Outstanding shares
|
340,417,522,731
|
342,337,098,324
|
Repurchased shares
|
16,889,749,071
|
20,092,788,807
|
Restricted cash
|
0
|
0
|
Guaranteed debt of associated companies
|
0
|
0
|
Concept
|
Accumulated Current Year
2018-01-01 - 2018-09-30
|
Accumulated Previous Year
2017-01-01 - 2017-09-30
|
Quarter Current Year
2018-07-01 - 2018-09-30
|
Quarter Previous Year
2017-07-01 - 2017-09-30
|
Informative data of the Income Statement
|
||||
Operating depreciation and amortization
|
14,686,728,000.00
|
13,731,734,000.00
|
5,037,803,000.00
|
4,609,212,000.00
|
Concept
|
Current Year
2017-10-01 - 2018-09-30
|
Previous Year
2016-10-01 - 2017-09-30
|
Informative data - Income Statement for 12 months
|
||
Revenue
|
100,540,085,000.00
|
95,471,770,000.00
|
Profit (loss) from operating activities
|
20,218,068,000.00
|
15,334,512,000.00
|
Profit (loss)
|
8,145,381,000.00
|
6,653,677,000.00
|
Profit (loss), attributable to owners of parent
|
6,296,277,000.00
|
4,604,610,000.00
|
Operating depreciation and amortization
|
19,459,813,000.00
|
18,228,808,000.00
|
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
|
60,540,000.00
|
181,619,000.00
|
242,159,000.00
|
242,159,000.00
|
670,111,000.00
|
|||||||
HSBC 2
|
NO
|
2013-05-29
|
2019-05-30
|
TIIE+1.25
|
16,231,000.00
|
196,440,000.00
|
||||||||||
HSBC 3
|
NO
|
2014-07-04
|
2019-07-04
|
TIIE+1.25
|
299,757,000.00
|
|||||||||||
BANCO SANTANDER 4
|
NO
|
2015-03-12
|
2020-05-07
|
TIIE+1.25
|
249,783,000.00
|
|||||||||||
BANCO SANTANDER 5
|
NO
|
2015-01-08
|
2019-09-10
|
TIIE+1.25
|
249,810,000.00
|
|||||||||||
HSBC 6
|
NO
|
2016-03-08
|
2023-03-08
|
7.13
|
625,000,000.00
|
1,250,000,000.00
|
625,000,000.00
|
|||||||||
SCOTIABANK INVERLAT 7
|
NO
|
2016-03-08
|
2023-03-08
|
7
|
750,000,000.00
|
1,500,000,000.00
|
750,000,000.00
|
|||||||||
BANCO SANTANDER 8
|
NO
|
2017-11-23
|
2022-10-21
|
TIIE+1.25
|
1,492,500,000.00
|
|||||||||||
HSBC9
|
NO
|
2017-11-23
|
2022-11-22
|
TIIE+1.30
|
1,990,034,000.00
|
|||||||||||
SCOTIABANK INVERLAT10
|
NO
|
2017-12-07
|
2023-02-03
|
TIIE+1.30
|
2,487,177,000.00
|
|||||||||||
TOTAL
|
76,771,000.00
|
927,626,000.00
|
491,942,000.00
|
1,617,159,000.00
|
3,420,111,000.00
|
7,344,711,000.00
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Other banks
|
||||||||||||||||
TOTAL
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total banks
|
||||||||||||||||
TOTAL
|
76,771,000.00
|
927,626,000.00
|
491,942,000.00
|
1,617,159,000.00
|
3,420,111,000.00
|
7,344,711,000.00
|
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
|
4,486,466,000.00
|
|||||||||||
NOTES 2
|
NO
|
2010-10-14
|
2020-10-01
|
7.38
|
9,985,306,000.00
|
|||||||||||
SENIOR NOTES 3
|
YES
|
2013-05-14
|
2043-05-14
|
7.62
|
6,441,580,000.00
|
|||||||||||
NOTES 4
|
NO
|
2014-04-07
|
2021-04-01
|
TIIE+0.35
|
5,994,655,000.00
|
|||||||||||
NOTES 5
|
NO
|
2015-05-11
|
2022-05-02
|
TIIE+0.35
|
4,993,680,000.00
|
|||||||||||
NOTES 6
|
NO
|
2017-10-09
|
2027-09-09
|
8.79
|
4,478,570,000.00
|
|||||||||||
SENIOR NOTES 7
|
YES
|
2005-03-18
|
2025-03-18
|
6.97
|
10,960,309,000.00
|
|||||||||||
SENIOR NOTES 8
|
YES
|
2002-03-11
|
2032-03-11
|
8.94
|
5,580,816,000.00
|
|||||||||||
SENIOR NOTES 9
|
YES
|
2009-11-23
|
2040-01-15
|
6.97
|
11,074,505,000.00
|
|||||||||||
SENIOR NOTES 10
|
YES
|
2014-05-13
|
2045-05-13
|
5.26
|
18,231,178,000.00
|
|||||||||||
SENIOR NOTES 11
|
YES
|
2015-11-24
|
2026-01-30
|
4.86
|
5,569,059,000.00
|
|||||||||||
SENIOR NOTES 12
|
YES
|
2015-11-24
|
2046-01-31
|
6.44
|
16,683,924,000.00
|
|||||||||||
TOTAL
|
0
|
0
|
0
|
15,979,961,000.00
|
4,993,680,000.00
|
15,406,616,000.00
|
0
|
0
|
0
|
0
|
0
|
68,099,791,000.00
|
||||
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
|
15,979,961,000.00
|
4,993,680,000.00
|
15,406,616,000.00
|
0
|
0
|
0
|
0
|
0
|
[5] 68,099,791,000.00
|
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
|
|||||
Other current and non-current liabilities with cost
|
||||||||||||||||
Other current and non-current liabilities with cost
|
||||||||||||||||
GRUPO DE TELECOMUNICACIONES DE ALTA CAPACIDAD 1
|
NO
|
2012-08-08
|
2020-07-01
|
118,093,000.00
|
72,155,000.00
|
147,744,000.00
|
||||||||||
GE CAPITAL CFE MÉXICO, S. DE R.L. DE C.V. 2
|
NO
|
2014-07-01
|
2020-01-01
|
4,557,000.00
|
12,424,000.00
|
4,957,000.00
|
||||||||||
GE CAPITAL CFE MÉXICO, S. DE R.L. DE C.V. 3
|
NO
|
2014-07-01
|
2020-05-01
|
15,067,000.00
|
22,322,000.00
|
11,183,000.00
|
||||||||||
GRUPO DE TELECOMUNICACIONES DE ALTA CAPACIDAD 4
|
NO
|
2012-08-01
|
2021-07-01
|
31,034,000.00
|
15,465,000.00
|
22,159,000.00
|
25,799,000.00
|
11,940,000.00
|
||||||||
INTELSAT GLOBAL SALES 5
|
YES
|
2012-10-01
|
2027-09-01
|
87,869,000.00
|
273,411,000.00
|
388,555,000.00
|
417,888,000.00
|
449,436,000.00
|
2,810,323,000.00
|
|||||||
GRUPO DE TELECOMUNICACIONES DE ALTA CAPACIDAD 6
|
NO
|
2014-10-27
|
2022-11-01
|
6,432,000.00
|
2,784,000.00
|
3,542,000.00
|
3,695,000.00
|
3,858,000.00
|
726,000.00
|
|||||||
GRUPO DE TELECOMUNICACIONES DE ALTA CAPACIDAD 7
|
NO
|
2015-06-02
|
2024-12-01
|
4,429,000.00
|
3,443,000.00
|
15,601,000.00
|
18,500,000.00
|
21,227,000.00
|
48,334,000.00
|
|||||||
GRUPO DE TELECOMUNICACIONES DE ALTA CAPACIDAD 8
|
NO
|
2018-03-01
|
2028-01-01
|
13,996,000.00
|
13,498,000.00
|
13,575,000.00
|
13,770,000.00
|
77,073,000.00
|
||||||||
NOTES PAYABLE TRANSFERRED TO BBVA BANCOMER BY ORIGINAL CREDITOR 9
|
NO
|
2016-03-01
|
2020-03-04
|
1,279,531,000.00
|
1,279,531,000.00
|
|||||||||||
TOTAL
|
179,612,000.00
|
1,422,120,000.00
|
1,498,215,000.00
|
61,569,000.00
|
50,795,000.00
|
126,133,000.00
|
87,869,000.00
|
273,411,000.00
|
388,555,000.00
|
417,888,000.00
|
449,436,000.00
|
[6] 2,810,323,000.00
|
||||
Total other current and non-current liabilities with cost
|
||||||||||||||||
TOTAL
|
179,612,000.00
|
1,422,120,000.00
|
1,498,215,000.00
|
61,569,000.00
|
50,795,000.00
|
126,133,000.00
|
87,869,000.00
|
273,411,000.00
|
388,555,000.00
|
417,888,000.00
|
449,436,000.00
|
2,810,323,000.00
|
||||
Suppliers
|
||||||||||||||||
Suppliers
|
||||||||||||||||
SUPPLIERS 1
|
NO
|
2018-09-30
|
2019-09-30
|
13,706,101,000.00
|
3,449,934,000.00
|
|||||||||||
TRANSMISSION RIGHTS 2
|
NO
|
2012-05-07
|
2023-12-29
|
585,902,000.00
|
1,188,972,000.00
|
123,484,000.00
|
95,638,000.00
|
863,188,000.00
|
1,945,037,000.00
|
753,086,000.00
|
384,568,000.00
|
285,261,000.00
|
113,360,000.00
|
|||
TOTAL
|
0
|
14,292,003,000.00
|
1,188,972,000.00
|
123,484,000.00
|
95,638,000.00
|
863,188,000.00
|
0
|
5,394,971,000.00
|
753,086,000.00
|
384,568,000.00
|
285,261,000.00
|
113,360,000.00
|
||||
Total suppliers
|
||||||||||||||||
TOTAL
|
0
|
14,292,003,000.00
|
1,188,972,000.00
|
123,484,000.00
|
95,638,000.00
|
863,188,000.00
|
0
|
5,394,971,000.00
|
753,086,000.00
|
384,568,000.00
|
285,261,000.00
|
113,360,000.00
|
||||
Other current and non-current liabilities
|
||||||||||||||||
Other current and non-current liabilities
|
||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS
|
6,729,000.00
|
123,285,000.00
|
11,451,000.00
|
|||||||||||||
TOTAL
|
6,729,000.00
|
123,285,000.00
|
11,451,000.00
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total other current and non-current liabilities
|
||||||||||||||||
TOTAL
|
6,729,000.00
|
123,285,000.00
|
11,451,000.00
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||
Total credits
|
||||||||||||||||
TOTAL
|
263,112,000.00
|
16,765,034,000.00
|
3,190,580,000.00
|
17,782,173,000.00
|
8,560,224,000.00
|
23,740,648,000.00
|
87,869,000.00
|
5,668,382,000.00
|
1,141,641,000.00
|
802,456,000.00
|
734,697,000.00
|
71,023,474,000.00
|
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
|
1,831,527,000.00
|
34,216,954,000.00
|
27,059,000.00
|
505,522,000.00
|
34,722,476,000.00
|
Non-current monetary assets
|
0
|
0
|
0
|
0
|
0
|
Total monetary assets
|
1,831,527,000.00
|
34,216,954,000.00
|
27,059,000.00
|
505,522,000.00
|
34,722,476,000.00
|
Liabilities position
|
|||||
Current liabilities
|
385,451,000.00
|
7,201,073,000.00
|
10,257,000.00
|
191,623,000.00
|
7,392,696,000.00
|
Non-current liabilities
|
4,000,474,000.00
|
74,737,655,000.00
|
0
|
0
|
74,737,655,000.00
|
Total liabilities
|
4,385,925,000.00
|
81,938,728,000.00
|
10,257,000.00
|
191,623,000.00
|
82,130,351,000.00
|
Net monetary assets (liabilities)
|
(2,554,398,000.00)
|
(47,721,774,000.00)
|
16,802,000.00
|
313,899,000.00
|
[7] (47,407,875,000.00)
|
Income type
|
||||
National income
|
Export income
|
Income of subsidiaries abroad
|
Total income
|
|
CONTENT:
|
||||
CONTENT:
|
0
|
0
|
0
|
0
|
TELEVISA
|
||||
CONTENT – ADVERTISING
|
14,411,454,000.00
|
178,287,000.00
|
0
|
14,589,741,000.00
|
CONTENT – NETWORK SUBSCRIPTION REVENUE
|
2,584,667,000.00
|
978,034,000.00
|
0
|
3,562,701,000.00
|
CONTENT – LICENSING AND SYNDICATION
|
841,081,000.00
|
9,587,339,000.00
|
0
|
10,428,420,000.00
|
SKY (INCLUDES LEASING OF SET –TOP EQUIPMENT):
|
||||
SKY (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
0
|
0
|
0
|
0
|
SKY, VETV, BLUE TO GO
|
||||
SKY – DTH BROADCAST SATELLITE TV
|
14,686,181,000.00
|
0
|
1,044,607,000.00
|
15,730,788,000.00
|
SKY – PAY PER VIEW
|
109,438,000.00
|
0
|
9,733,000.00
|
119,171,000.00
|
SKY – ADVERTISING
|
690,366,000.00
|
0
|
0
|
690,366,000.00
|
CABLE (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
||||
CABLE (INCLUDES LEASING OF SET-TOP EQUIPMENT):
|
0
|
0
|
0
|
0
|
CABLEVISIÓN, CABLEMÁS, TVI, CABLECOM, IZZI, TELECABLE
|
||||
CABLE – DIGITAL TV SERVICE
|
10,535,117,000.00
|
0
|
0
|
10,535,117,000.00
|
CABLE – BROADBAND SERVICES
|
9,674,544,000.00
|
0
|
0
|
9,674,544,000.00
|
CABLE – SERVICE INSTALLATION
|
229,070,000.00
|
0
|
0
|
229,070,000.00
|
CABLE – PAY PER VIEW
|
16,119,000.00
|
0
|
0
|
16,119,000.00
|
CABLE - ADVERTISING
|
871,429,000.00
|
0
|
0
|
871,429,000.00
|
CABLE – TELEPHONY
|
1,884,554,000.00
|
0
|
0
|
1,884,554,000.00
|
CABLE – OTHER INCOME
|
171,270,000.00
|
0
|
0
|
171,270,000.00
|
BESTEL, METRORED
|
||||
CABLE – ENTERPRISE OPERATIONS
|
3,220,518,000.00
|
0
|
112,693,000.00
|
3,333,211,000.00
|
OTHER BUSINESSES:
|
||||
OTHER BUSINESSES:
|
0
|
0
|
0
|
0
|
TV Y NOVELAS, CARAS, VANIDADES, COSMOPOLITAN, NATIONAL GEOGRAPHIC, MUY INTERESANTE, TÚ, SKY VIEW, COCINA FÁCIL, MARVEL SEMANAL, AUTOMOVIL PANAMERICANO, ALBUM PANINI RUSIA 2018
|
||||
PUBLISHING – MAGAZINE CIRCULATION
|
406,937,000.00
|
0
|
83,514,000.00
|
490,451,000.00
|
PUBLISHING – ADVERTISING
|
338,120,000.00
|
0
|
130,244,000.00
|
468,364,000.00
|
PUBLISHING – OTHER INCOME
|
3,969,000.00
|
0
|
0
|
3,969,000.00
|
VIDEOCINE, PANTELION
|
||||
DISTRIBUTION, RENTALS AND SALE OF MOVIE RIGHTS
|
607,133,000.00
|
3,261,000.00
|
439,664,000.00
|
1,050,058,000.00
|
CLUB DE FÚTBOL AMÉRICA, ESTADIO AZTECA
|
||||
SPECIAL EVENTS AND SHOW PROMOTION
|
1,094,579,000.00
|
92,721,000.00
|
0
|
1,187,300,000.00
|
PLAY CITY
|
||||
GAMING
|
1,934,910,000.00
|
0
|
0
|
1,934,910,000.00
|
TELEVISA RADIO
|
||||
RADIO – ADVERTISING
|
665,972,000.00
|
0
|
0
|
665,972,000.00
|
HOLA MÉXICO, CINE PREMIERE, GLAMOUR MEXICO, MINI REVISTA MINA, ENTREPRENEUR, SELECCIONES, GUÍA DE BIENESTAR SELECCIONES, FÚTBOL TOTAL ESPECIAL, MONEDAS Y BILLETES DEL MUNDO, ALGARABIA, VOGUE MEXICO
|
||||
PUBLISHING DISTRIBUTION
|
208,935,000.00
|
0
|
27,602,000.00
|
236,537,000.00
|
INTERSEGMENT ELIMINATIONS
|
||||
INTERSEGMENT ELIMINATIONS
|
(3,320,478,000.00)
|
0
|
(6,502,000.00)
|
(3,326,980,000.00)
|
TOTAL
|
61,865,885,000.00
|
10,839,642,000.00
|
1,841,555,000.00
|
74,547,082,000.00
|
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. $144,600,000 (One hundred forty four million six hundred thousand U.S. Dollars 00/100), expired. As a result of this hedge, a profit of MXN $ 51,485,389.7 (Fifty one million four hundred eighty five thousand three hundred eighty nine Mexican pesos 70/100) 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
|
Collateral/
Lines of Credit/
Securities Pledged
|
|||
Current Quarter (4)
|
Previous Quarter (5)
|
Current Quarter Dr (Cr) (4)
|
Previous Quarter Dr (Cr) (5)
|
Maturing per Year
|
||||
Interest Rate Swap (1)
|
Hedging
|
Ps. 6,000,000
|
TIIE 28 days / 5.9351%
|
TIIE 28 days / 5.9351%
|
274,442
|
302,579
|
Monthly interest
2018-2021
|
Does not exist (6)
|
Interest Rate Swap (1)
|
Hedging
|
Ps. 5,000,000
|
TIIE 28 days / 6.5716%
|
TIIE 28 days / 6.5716%
|
207,427
|
221,836
|
Monthly interest
2018-2022
|
Does not exist (6)
|
Interest Rate Swap (1)
|
Hedging
|
Ps. 2,000,000
|
TIIE 28 days / 7.3275%
|
TIIE 28 days / 7.3275%
|
39,902
|
39,258
|
Monthly interest
2018-2022
|
Does not exist (6)
|
Interest Rate Swap (1)
|
Hedging
|
Ps. 1,500,000
|
TIIE 28 days / 7.3500%
|
TIIE 28 days / 7.3500%
|
29,017
|
28,186
|
Monthly interest
2018-2022
|
Does not exist (6)
|
Interest Rate Swap (1)
|
Hedging
|
Ps. 2,500,000
|
TIIE 28 days / 7.7485%
|
TIIE 28 days / 7.7485%
|
14,089
|
9,769
|
Monthly interest
2018-2023
|
Does not exist (6)
|
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
|
Collateral/
Lines of Credit/
Securities Pledged
|
|||
Current Quarter (4)
|
Previous Quarter (5)
|
Current Quarter Dr (Cr) (4)
|
Previous Quarter Dr (Cr) (5)
|
Maturing per Year
|
||||
Forward (1)
|
Hedging
|
U.S.$249,000 /Ps.4,895,461
|
U.S.$249,000 /Ps.4,895,461
|
U.S.$291,125 /Ps.5,685,784
|
(69,599)
|
263,454
|
Monthly interest
2018-2019
|
Does not exist (6)
|
Forward (1)
|
Hedging
|
U.S.$155,100 / Ps.3,003,579
|
U.S.$155,100 / Ps.3,003,579
|
U.S.$115,200 / Ps.2,168,746
|
(51,165)
|
135,940
|
2018-2019
|
Does not exist (6)
|
Options (1)
|
Hedging
|
U.S.$613,750
|
U.S.$613,750
|
U.S.$613,750
|
45,772
|
345,507
|
2018
|
Does not exist (6)
|
Interest Rate Swap (2)
|
Hedging
|
Ps.1,221,933
|
TIIE 28 days / 5.246%
|
TIIE 28 days / 5.246%
|
39,970
|
48,711
|
Monthly Interest
2018-2022
|
Does not exist (6)
|
Interest Rate Swap (2)
|
Hedging
|
Ps.1,215,101
|
TIIE 28 days / 7.2663%
|
TIIE 28 days / 7.2663%
|
18,041
|
20,099
|
Monthly Interest
2018-2022
|
Does not exist (6)
|
Forward (2)
|
Hedging
|
U.S.$20,000 / Ps.392,024
|
U.S.$20,000 / Ps.392,024
|
-
|
(9,151)
|
-
|
2019
|
Does not exist (6)
|
Options (2)
|
Hedging
|
U.S.$41,250
|
U.S.$41,250
|
U.S.$41,250
|
3,355
|
24,589
|
2018
|
Does not exist (6)
|
Forward (3)
|
Hedging
|
U.S.$26,000 / Ps.509,114
|
U.S.$26,000 / Ps.509,114
|
-
|
(11,550)
|
-
|
2019
|
Does not exist (6)
|
Options (3)
|
Hedging
|
U.S.$85,625
|
U.S.$85,625
|
U.S.$85,625
|
4,972
|
39,877
|
2018
|
Does not exist (6)
|
Total
|
535,522
|
1,479,805
|
(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)
|
The aggregate amount of the derivatives reflected in the consolidated statement of financial position of Grupo Televisa, S.A.B. as of September 30, 2018, is as follows:
|
Other financial assets
|
Ps.
|
72,921
|
||
Other non-current financial assets
|
604,066
|
|||
Other financial liabilities
|
(130,014
|
)
|
||
Other non-current financial liabilities
|
(11,451
|
)
|
||
Ps.
|
535,522
|
(5)
|
Information as of June 30, 2018.
|
(6)
|
Applies only to implicit financing in the ISDA ancillary agreements identified as “Credit Support Annex”.
|
Concept
|
Close Current Quarter
2018-09-30
|
Close Previous Exercise
2017-12-31
|
Subclassifications of assets, liabilities and equities
|
||
Cash and cash equivalents
|
||
Cash
|
||
Cash on hand
|
63,802,000.00
|
66,865,000.00
|
Balances with banks
|
2,201,683,000.00
|
1,694,394,000.00
|
Total cash
|
2,265,485,000.00
|
1,761,259,000.00
|
Cash equivalents
|
||
Short-term deposits, classified as cash equivalents
|
40,161,272,000.00
|
36,973,690,000.00
|
Short-term investments, classified as cash equivalents
|
0
|
0
|
Other banking arrangements, classified as cash equivalents
|
0
|
0
|
Total cash equivalents
|
40,161,272,000.00
|
36,973,690,000.00
|
Other cash and cash equivalents
|
0
|
0
|
Total cash and cash equivalents
|
42,426,757,000.00
|
38,734,949,000.00
|
Trade and other current receivables
|
||
Current trade receivables
|
15,378,880,000.00
|
24,727,073,000.00
|
Current receivables due from related parties
|
833,282,000.00
|
860,220,000.00
|
Current prepayments
|
||
Current advances to suppliers
|
0
|
0
|
Current prepaid expenses
|
2,751,311,000.00
|
2,074,046,000.00
|
Total current prepayments
|
2,751,311,000.00
|
2,074,046,000.00
|
Current receivables from taxes other than income tax
|
2,515,914,000.00
|
1,537,218,000.00
|
Current value added tax receivables
|
2,400,654,000.00
|
1,471,394,000.00
|
Current receivables from sale of properties
|
0
|
0
|
Current receivables from rental of properties
|
0
|
0
|
Other current receivables
|
2,208,557,000.00
|
1,158,855,000.00
|
Total trade and other current receivables
|
23,687,944,000.00
|
30,357,412,000.00
|
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
|
1,045,297,000.00
|
1,492,947,000.00
|
Total current inventories
|
1,045,297,000.00
|
1,492,947,000.00
|
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
|
0
|
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
|
0
|
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
2018-09-30
|
Close Previous Exercise
2017-12-31
|
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
|
779,662,000.00
|
959,637,000.00
|
Investments in associates
|
9,826,236,000.00
|
13,151,115,000.00
|
Total investments in subsidiaries, joint ventures and associates
|
10,605,898,000.00
|
14,110,752,000.00
|
Property, plant and equipment
|
||
Land and buildings
|
||
Land
|
4,847,292,000.00
|
4,866,337,000.00
|
Buildings
|
4,668,512,000.00
|
4,871,925,000.00
|
Total land and buildings
|
9,515,804,000.00
|
9,738,262,000.00
|
Machinery
|
56,680,039,000.00
|
57,112,452,000.00
|
Vehicles
|
||
Ships
|
0
|
0
|
Aircraft
|
531,756,000.00
|
540,743,000.00
|
Motor vehicles
|
815,805,000.00
|
816,216,000.00
|
Total vehicles
|
1,347,561,000.00
|
1,356,959,000.00
|
Fixtures and fittings
|
561,709,000.00
|
563,142,000.00
|
Office equipment
|
2,369,662,000.00
|
2,459,789,000.00
|
Tangible exploration and evaluation assets
|
0
|
0
|
Mining assets
|
0
|
0
|
Oil and gas assets
|
0
|
0
|
Construction in progress
|
12,841,109,000.00
|
13,485,066,000.00
|
Construction prepayments
|
0
|
0
|
Other property, plant and equipment
|
949,898,000.00
|
1,004,140,000.00
|
Total property, plant and equipment
|
84,265,782,000.00
|
85,719,810,000.00
|
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
|
1,020,279,000.00
|
1,409,494,000.00
|
Intangible exploration and evaluation assets
|
0
|
0
|
Mastheads and publishing titles
|
0
|
0
|
Computer software
|
2,974,854,000.00
|
2,797,708,000.00
|
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
|
16,906,031,000.00
|
17,566,606,000.00
|
Total intangible assets other than goodwill
|
20,901,164,000.00
|
21,773,808,000.00
|
Goodwill
|
14,112,626,000.00
|
14,112,626,000.00
|
Total intangible assets and goodwill
|
35,013,790,000.00
|
35,886,434,000.00
|
Trade and other current payables
|
||
Current trade payables
|
19,686,974,000.00
|
19,959,795,000.00
|
Current payables to related parties
|
757,103,000.00
|
991,469,000.00
|
Concept
|
Close Current Quarter
2018-09-30
|
Close Previous Exercise
2017-12-31
|
Accruals and deferred income classified as current
|
||
Deferred income classified as current
|
10,546,552,000.00
|
18,798,347,000.00
|
Rent deferred income classified as current
|
0
|
0
|
Accruals classified as current
|
3,495,568,000.00
|
3,431,706,000.00
|
Short-term employee benefits accruals
|
847,952,000.00
|
963,377,000.00
|
Total accruals and deferred income classified as current
|
14,042,120,000.00
|
22,230,053,000.00
|
Current payables on social security and taxes other than income tax
|
724,281,000.00
|
728,263,000.00
|
Current value added tax payables
|
57,939,000.00
|
51,918,000.00
|
Current retention payables
|
417,632,000.00
|
444,233,000.00
|
Other current payables
|
0
|
0
|
Total trade and other current payables
|
35,628,110,000.00
|
44,353,813,000.00
|
Other current financial liabilities
|
||
Bank loans current
|
1,004,397,000.00
|
307,023,000.00
|
Stock market loans current
|
0
|
0
|
Other current liabilities at cost
|
1,963,012,000.00
|
1,759,319,000.00
|
Other current liabilities at no cost
|
130,014,000.00
|
0
|
Other current financial liabilities
|
1,643,951,000.00
|
1,796,847,000.00
|
Total Other current financial liabilities
|
4,741,374,000.00
|
3,863,189,000.00
|
Trade and other non-current payables
|
||
Non-current trade payables
|
3,807,557,000.00
|
2,719,236,000.00
|
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
|
3,807,557,000.00
|
2,719,236,000.00
|
Other non-current financial liabilities
|
||
Bank loans non-current
|
12,873,923,000.00
|
13,795,409,000.00
|
Stock market loans non-current
|
104,480,048,000.00
|
108,197,719,000.00
|
Other non-current liabilities at cost
|
5,802,914,000.00
|
7,547,515,000.00
|
Other non-current liabilities at no cost
|
11,451,000.00
|
0
|
Other non-current financial liabilities
|
0
|
0
|
Total Other non-current financial liabilities
|
123,168,336,000.00
|
129,540,643,000.00
|
Other provisions
|
||
Other non-current provisions
|
53,685,000.00
|
54,263,000.00
|
Other current provisions
|
840,000.00
|
23,466,000.00
|
Total other provisions
|
54,525,000.00
|
77,729,000.00
|
Other reserves
|
||
Revaluation surplus
|
0
|
0
|
Reserve of exchange differences on translation
|
1,207,713,000.00
|
2,298,822,000.00
|
Reserve of cash flow hedges
|
346,022,000.00
|
561,412,000.00
|
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 remeasuring available-for-sale financial assets
|
3,324,577,000.00
|
2,747,704,000.00
|
Reserve of share-based payments
|
0
|
0
|
Reserve of remeasurements of defined benefit plans
|
(665,739,000.00)
|
(665,739,000.00)
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal groups held for sale
|
0
|
0
|
Concept
|
Close Current Quarter
2018-09-30
|
Close Previous Exercise
2017-12-31
|
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
|
272,125,000.00
|
208,057,000.00
|
Total other reserves
|
4,484,698,000.00
|
5,150,256,000.00
|
Net assets (liabilities)
|
||
Assets
|
287,965,500,000.00
|
297,220,101,000.00
|
Liabilities
|
182,399,586,000.00
|
197,563,187,000.00
|
Net assets (liabilities)
|
105,565,914,000.00
|
99,656,914,000.00
|
Net current assets (liabilities)
|
||
Current assets
|
76,492,663,000.00
|
81,102,203,000.00
|
Current liabilities
|
43,443,604,000.00
|
50,764,817,000.00
|
Net current assets (liabilities)
|
33,049,059,000.00
|
30,337,386,000.00
|
Concept
|
Accumulated Current Year
2018-01-01 - 2018-09-30
|
Accumulated Previous Year
2017-01-01 - 2017-09-30
|
Quarter Current Year
2018-07-01 - 2018-09-30
|
Quarter Previous Year
2017-07-01 - 2017-09-30
|
Analysis of income and expense
|
||||
Revenue
|
||||
Revenue from rendering of services
|
52,578,242,000.00
|
50,123,757,000.00
|
17,719,723,000.00
|
16,859,022,000.00
|
Revenue from sale of goods
|
883,030,000.00
|
884,181,000.00
|
282,354,000.00
|
267,052,000.00
|
Interest income
|
0
|
0
|
0
|
0
|
Royalty income
|
10,012,770,000.00
|
6,140,135,000.00
|
3,374,292,000.00
|
2,094,858,000.00
|
Dividend income
|
0
|
0
|
0
|
0
|
Rental income
|
11,073,040,000.00
|
10,446,148,000.00
|
3,656,865,000.00
|
3,442,097,000.00
|
Revenue from construction contracts
|
0
|
0
|
0
|
0
|
Other revenue
|
0
|
0
|
0
|
0
|
Total revenue
|
74,547,082,000.00
|
67,594,221,000.00
|
25,033,234,000.00
|
22,663,029,000.00
|
Finance income
|
||||
Interest income
|
1,162,044,000.00
|
972,007,000.00
|
419,214,000.00
|
334,725,000.00
|
Net gain on foreign exchange
|
523,110,000.00
|
1,864,014,000.00
|
16,981,000.00
|
0
|
Gains on change in fair value of derivatives
|
0
|
9,164,000.00
|
0
|
57,435,000.00
|
Gain on change in fair value of financial instruments
|
0
|
0
|
0
|
0
|
Other finance income
|
0
|
0
|
0
|
0
|
Total finance income
|
1,685,154,000.00
|
2,845,185,000.00
|
436,195,000.00
|
392,160,000.00
|
Finance costs
|
||||
Interest expense
|
7,036,960,000.00
|
6,690,433,000.00
|
2,394,989,000.00
|
2,194,183,000.00
|
Net loss on foreign exchange
|
0
|
0
|
0
|
119,648,000.00
|
Losses on change in fair value of derivatives
|
1,113,426,000.00
|
0
|
530,549,000.00
|
0
|
Loss on change in fair value of financial instruments
|
0
|
0
|
0
|
0
|
Other finance cost
|
0
|
0
|
0
|
0
|
Total finance costs
|
8,150,386,000.00
|
6,690,433,000.00
|
2,925,538,000.00
|
2,313,831,000.00
|
Tax income (expense)
|
||||
Current tax
|
5,261,316,000.00
|
4,768,186,000.00
|
1,752,466,000.00
|
1,352,173,000.00
|
Deferred tax
|
(1,462,614,000.00)
|
(2,095,584,000.00)
|
(1,052,979,000.00)
|
(446,167,000.00)
|
Total tax income (expense)
|
3,798,702,000.00
|
2,672,602,000.00
|
699,487,000.00
|
906,006,000.00
|
1. |
Corporate Information
|
2. |
Basis of Preparation and Accounting Policies
|
Sky | Cable | Total | ||||||||||
Contract Assets:
|
||||||||||||
At January 1, 2018
|
Ps.
|
2,452,540
|
Ps.
|
932,664
|
Ps.
|
3,385,204
|
||||||
Additions
|
604,214
|
435,712
|
1,039,926
|
|||||||||
Amortization
|
782,988
|
309,408
|
1,092,396
|
|||||||||
Total Contract Assets at September 30, 2018
|
2,273,766
|
1,058,968
|
3,332,734
|
|||||||||
Less:
|
||||||||||||
Current Contract Assets
|
925,859
|
233,166
|
1,159,025
|
|||||||||
Total Non-current Contract Assets
|
Ps.
|
1,347,985
|
Ps.
|
825,802
|
Ps.
|
2,173,709
|
Retained Earnings
|
Income Taxes
|
Net
|
||||||||||
Controlling interest
|
Ps.
|
2,272,350
|
Ps.
|
(672,898
|
)
|
Ps.
|
1,599,452
|
|||||
Non-controlling interests
|
1,112,854
|
(327,651
|
)
|
785,203
|
||||||||
Effect on Equity at January 1, 2018
|
Ps.
|
3,385,204
|
Ps.
|
(1,000,549
|
)
|
Ps.
|
2,384,655
|
Earnings (Losses)
|
Income Tax Benefit
|
Net
|
||||||||||
Controlling interest
|
Ps.
|
(169,540
|
)
|
Ps.
|
50,862
|
Ps.
|
(118,678
|
)
|
||||
Non-controlling interests
|
(1,959
|
)
|
588
|
(1,371
|
)
|
|||||||
Effect on Equity at January 1, 2018
|
Ps.
|
(171,499
|
)
|
Ps.
|
51,450
|
Ps.
|
(120,049
|
)
|
Previously Reported Amount
|
Restatement Adjustment
|
Restated
Amount (1)
|
||||||||||
Consolidated Statement of Financial Position as of December 31, 2017
|
||||||||||||
Temporary investments
|
Ps.
|
6,013,678
|
Ps.
|
(5,942,500
|
)
|
Ps.
|
71,178
|
|||||
Total current assets
|
87,044,703
|
(5,942,500
|
)
|
81,102,203
|
||||||||
Investments in financial instruments
|
43,996,852
|
5,942,500
|
49,939,352
|
|||||||||
Total non-current assets
|
210,175,398
|
5,942,500
|
216,117,898
|
|||||||||
Retained earnings
|
74,983,656
|
(551,109
|
)
|
74,432,547
|
||||||||
Accumulated other comprehensive income, net
|
4,599,147
|
551,109
|
5,150,256
|
|||||||||
Consolidated Statement of Income for the nine months ended September 30, 2017
|
||||||||||||
Interest income
|
Ps.
|
1,445,715
|
Ps.
|
(473,708
|
)
|
Ps.
|
972,007
|
|||||
Finance income
|
3,318,893
|
(473,708
|
)
|
2,845,185
|
||||||||
Finance expense, net
|
3,371,540
|
473,708
|
3,845,248
|
|||||||||
Income before income taxes
|
8,262,647
|
(473,708
|
)
|
7,788,939
|
||||||||
Income taxes
|
2,814,715
|
(142,113
|
)
|
2,672,602
|
||||||||
Net income
|
5,447,932
|
(331,595
|
)
|
5,116,337
|
||||||||
Net income attributable to stockholders of the Company
|
3,961,646
|
(331,595
|
)
|
3,630,051
|
(1)
|
The Company restated, certain previously reported figures as of December 31, 2017 and for the nine months ended September 30, 2017, as if the accounting change required by IFRS 9 had been applied beginning on January 1, 2017.
|
3. |
Acquisitions and Dispositions
|
4. |
Investments in financial instruments
|
September 30, 2018
|
December 31, 2017 (1)
|
|||||||
At fair value through other comprehensive income:
|
|
|||||||
Warrants issued by UHI (2)
|
Ps.
|
33,510,145
|
Ps.
|
36,395,183
|
||||
Open Ended Fund (3)
|
7,798,773
|
7,297,577
|
||||||
Other financial assets (4)
|
7,227,068
|
5,942,500
|
||||||
48,535,986
|
49,635,260
|
|||||||
Other financial instruments
|
937
|
304,092
|
||||||
Ps.
|
48,536,923
|
Ps.
|
49,939,352
|
(1)
|
The Company restated, certain financial assets amounts previously reported as of September 30, 2017, in connection with the initial recognition of IFRS 9, as if the accounting change had been applied beginning on January 1, 2017.
|
(2)
|
The Group’s Warrants are exercisable for UHI’s common stock, in whole or in part, at an exercise price of U.S.$0.01 per Warrant share. The Warrants do not entitle the holder to any voting rights as a stockholder of UHI. The Warrants shall expire and no longer be exercisable after the tenth anniversary of the date of issuance (the “Expiration Date”); provided, however, the Expiration Date shall automatically be extended for nine successive ten-year periods unless the Group provides written notice to UHI of its election not to so extend the Expiration Date. The Warrants do not bear interest. These Warrants are classified as financial assets with changes in fair value recognized in accumulated other comprehensive income or loss in consolidated equity (see Notes 5 and 9).
|
(3)
|
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 and transactions 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 and subtracting all of the fund liabilities and dividing the result by the total number of issued shares.
|
(4)
|
Other financial assets include equity instruments (publicly traded instruments). The fair value is based on quoted market prices. In connection with these equity instruments, the Group recognizes any changes in fair value in other comprehensive income or loss in consolidated equity (see Note 2). In the third quarter of 2018, the Company invested in corporate fixed income securities with long-term maturities in the aggregate amount of Ps.76,163 as of September 30, 2018, which were classified as other financial assets with changes in fair value in other comprehensive income or loss in consolidated equity, in accordance with the Group’s business model to manage these financial instruments and their contractual cash flows characteristics.
|
|
Warrants Issued
by UHI (1)
|
Open Ended
Fund (1)
|
Other Financial
Assets
|
Total
|
||||||||||||
At January 1, 2018
|
Ps.
|
36,395,183
|
Ps.
|
7,297,577
|
Ps.
|
5,942,500
|
Ps.
|
49,635,260
|
||||||||
This year investments
|
-
|
-
|
76,245
|
76,245
|
||||||||||||
Change in fair value in other comprehensive income
|
(2,885,038
|
)
|
501,196
|
1,208,323
|
(1,175,519
|
)
|
||||||||||
At September 30, 2018
|
Ps.
|
33,510,145
|
Ps.
|
7,798,773
|
Ps.
|
7,227,068
|
Ps.
|
48,535,986
|
||||||||
|
Warrants Issued
by UHI (1)
|
Open Ended
Fund (1)
|
Other Financial
Assets
|
Total
|
||||||||||||
At January 1, 2017
|
Ps.
|
38,298,606
|
Ps.
|
6,456,392
|
Ps.
|
5,258,432
|
Ps.
|
50,013,430
|
||||||||
Change in other finance income
|
-
|
-
|
(72,477
|
)
|
(72,477
|
)
|
||||||||||
Change in fair value in other comprehensive income
|
(3,323,690
|
)
|
(7,152
|
)
|
473,708
|
(2,857,134
|
)
|
|||||||||
At September 30, 2017
|
Ps.
|
34,974,916
|
Ps.
|
6,449,240
|
Ps.
|
5,659,663
|
Ps.
|
47,083,819
|
(1)
|
The foreign exchange loss for the nine months ended September 30, 2018 and 2017, derived from the hedged Warrants issued by UHI and the investment in Open Ended Fund was hedged by foreign exchange gain in the consolidated statement of income in the amount of Ps.1,903,147 and Ps.96,477; and Ps.4,463,380 and Ps.433,908, respectively (see Notes 8 and 14).
|
5. |
Investments in Associates and Joint Ventures
|
Ownership as of September 30, 2018
|
September 30, 2018
|
December 31, 2017
|
||||||||||
Associates:
|
||||||||||||
UHI (1)
|
10.0
|
%
|
Ps.
|
8,427,891
|
Ps.
|
8,144,843
|
||||||
Imagina (2)
|
-
|
-
|
3,845,823
|
|||||||||
Ocesa Entretenimiento, S.A. de C.V. and subsidiaries (collectively, “OCEN”) (3)
|
40.0
|
%
|
1,294,655
|
1,059,391
|
||||||||
Other
|
-
|
103,690
|
101,058
|
|||||||||
Joint ventures:
|
||||||||||||
Grupo de Telecomunicaciones de Alta Capacidad, S.A.P.I. de C.V. (“GTAC”) (4)
|
33.3
|
%
|
594,026
|
720,806
|
||||||||
PDS (5)
|
50.0
|
%
|
185,636
|
180,159
|
||||||||
The Second Screen Company Latam, S.L. (“The Second Screen”)
|
-
|
-
|
58,672
|
|||||||||
Ps.
|
10,605,898
|
Ps.
|
14,110,752
|
(1)
|
The Group accounts for its investment in common stock of UHI, the parent company of Univision, under the equity method due to the Group’s ability to exercise significant influence, as defined under IFRS, over UHI’s operations. The Group has the ability to exercise significant influence over the operating and financial policies of UHI because the Group (i) as of September 30, 2018 and December 31, 2017, owned 1,110,382 Class “C” shares of common stock of UHI, representing approximately 10% of the outstanding total shares of UHI as of each of those dates; (ii) as of September 30, 2018 and December 31, 2017, held Warrants exercisable for common stock of UHI equivalent to approximately 26% equity stake of UHI on a fully-diluted, as-converted basis, subject to certain conditions, laws and regulations; (iii) as of September 30, 2018 and December 31, 2017, had three officers and one director of the Company designated as members of the Board of Directors of UHI, which was composed of 18 directors, of 22 available board seats; and (iv) was party to a program license agreement (“PLA”), as amended, with Univision, an indirect wholly-owned subsidiary of UHI, pursuant to which Univision has the right to broadcast certain Televisa content in the United States (“Program License Agreement”), and to another program license agreement pursuant to which the Group has the right to broadcast certain Univision’s content in Mexico (“Mexican License Agreement”), in each case through the later of 2025 (2030 upon consummation of a qualified public equity offering of UHI) or 7.5 years after the Group has sold two-thirds of its initial investment in UHI made in December 2010 (see Notes 4, 9, 12 and 14).
|
(2)
|
Through May 31, 2018, the Company accounted for this investment under the equity method due to its ability to exercise significant influence over the operating and financial policies of Imagina. In June 2018, this investment was sold by the Company and the Group recognized a pre-tax gain on disposition of this investment in the aggregate amount of Ps. 3,547,387 in consolidated other income for the six months ended June 30, 2018, including a cumulative foreign currency translation gain derived from this investment in the amount of Ps.722,023, which was reclassified from other comprehensive income in consolidated equity (see Notes 3 and 13).
|
(3)
|
OCEN is a majority-owned subsidiary of Corporación Interamericana de Entretenimiento, S.A.B. de C.V., and is engaged in the live entertainment business in Mexico. In 2017, the stockholders of OCEN approved the payment of a dividend in the amount of Ps.340,000, of which Ps.136,000 was paid to the Group. As of September 30, 2018 and December 31, 2017, the investment in OCEN included a goodwill of Ps.359,613.
|
(4)
|
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, 2018 and December 31, 2017, GTAC had used a principal amount of Ps.688,183, under this credit facility. During the nine months ended September 30, 2018, GTAC paid principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.109,725. During the year ended December 31, 2017, GTAC paid principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.203,945. 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.640,978, 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 2027. During the nine months ended September 30, 2018, GTAC paid principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.109,712. During the year ended December 31, 2017, GTAC paid principal and interest to the Group in connection with this credit facility in the aggregate principal amount of Ps.47,885. The net investment in GTAC as of September 30, 2018 and December 31, 2017, included amounts receivable in connection with this long-term credit facility and supplementary loans to GTAC in the aggregate amount of Ps.828,664 and Ps.929,516, respectively (see Note 9).
|
(5)
|
The Group accounts for its investment in PDS under the equity method, due to its 50% interest in this joint venture. In September 2017, PDS acquired substantially all of the equity interest in Now New Media, S.A.P.I. de C.V an online news website in Mexico City, in the aggregate amount of Ps.81,749. As of September 30, 2018 and December 31, 2017, the Group’s investment in PDS included intangible assets and goodwill in the aggregate amount of Ps.113,837 (see Note 3).
|
6. |
Property, Plant and Equipment, Net
|
September 30,
2018
|
December 31,
2017
|
|||||||
Buildings
|
Ps.
|
9,253,328
|
Ps.
|
9,287,456
|
||||
Building improvements
|
279,320
|
279,336
|
||||||
Technical equipment
|
126,547,003
|
117,466,054
|
||||||
Satellite transponders
|
10,301,713
|
10,301,713
|
||||||
Furniture and fixtures
|
1,193,001
|
1,121,639
|
||||||
Transportation equipment
|
2,957,130
|
2,830,108
|
||||||
Computer equipment
|
8,375,782
|
7,665,913
|
||||||
Leasehold improvements
|
2,945,978
|
2,747,307
|
||||||
161,853,255
|
151,699,526
|
|||||||
Accumulated depreciation
|
(95,275,874
|
)
|
(84,331,119
|
)
|
||||
66,577,381
|
67,368,407
|
|||||||
Land
|
4,847,292
|
4,866,337
|
||||||
Construction and projects in progress
|
12,841,109
|
13,485,066
|
||||||
Ps.
|
84,265,782
|
Ps.
|
85,719,810
|
7. |
Intangible Assets, Net
|
September 30, 2018
|
December 31, 2017
|
|||||||||||||||||||||||
Gross Carrying Amount
|
Accumulated Amortization
|
Net Carrying Amount
|
Gross Carrying Amount
|
Accumulated Amortization
|
Net Carrying Amount
|
|||||||||||||||||||
Intangible assets with indefinite useful lives:
|
||||||||||||||||||||||||
Goodwill
|
Ps.
|
14,112,626
|
Ps.
|
14,112,626
|
||||||||||||||||||||
Trademarks
|
580,552
|
615,147
|
||||||||||||||||||||||
Concessions
|
15,166,067
|
15,166,067
|
||||||||||||||||||||||
Intangible assets with finite useful lives:
|
||||||||||||||||||||||||
Trademarks
|
Ps.
|
1,891,306
|
Ps.
|
(1,451,579
|
)
|
439,727
|
Ps.
|
1,891,306
|
Ps.
|
(1,096,959
|
)
|
794,347
|
||||||||||||
Concessions
|
553,505
|
(193,727
|
)
|
359,778
|
553,505
|
(110,701
|
)
|
442,804
|
||||||||||||||||
Licenses and software
|
8,577,881
|
(5,603,027
|
)
|
2,974,854
|
7,470,669
|
(4,672,961
|
)
|
2,797,708
|
||||||||||||||||
Subscriber lists
|
6,199,024
|
(6,046,365
|
)
|
152,659
|
6,203,875
|
(5,404,722
|
)
|
799,153
|
||||||||||||||||
Other intangible assets
|
4,321,205
|
(3,093,678
|
)
|
1,227,527
|
3,940,692
|
(2,782,110
|
)
|
1,158,582
|
||||||||||||||||
Ps.
|
21,542,921
|
Ps.
|
(16,388,376
|
)
|
Ps.
|
35,013,790
|
Ps.
|
20,060,047
|
Ps.
|
(14,067,453
|
)
|
Ps.
|
35,886,434
|
8. |
Debt, Finance Lease Obligations and Other Notes Payable
|
September 30,
2018
|
December 31, 2017
|
|||||||||||||||
Principal
|
Finance Costs
|
Total
|
Total
|
|||||||||||||
U.S. dollar debt:
|
||||||||||||||||
6.625% Senior Notes due 2025 (1)
|
Ps.
|
11,209,320
|
Ps.
|
(249,011
|
)
|
Ps.
|
10,960,309
|
Ps.
|
11,545,317
|
|||||||
4.625% Senior Notes due 2026 (1)
|
5,604,660
|
(35,601
|
)
|
5,569,059
|
5,872,203
|
|||||||||||
8.5% Senior Notes due 2032 (1)
|
5,604,660
|
(23,844
|
)
|
5,580,816
|
5,886,361
|
|||||||||||
6.625% Senior Notes due 2040 (1)
|
11,209,320
|
(134,815
|
)
|
11,074,505
|
11,683,468
|
|||||||||||
5% Senior Notes due 2045 (1)
|
18,682,200
|
(451,022
|
)
|
18,231,178
|
19,241,393
|
|||||||||||
6.125% Senior Notes due 2046 (1)
|
16,813,980
|
(130,056
|
)
|
16,683,924
|
17,600,943
|
|||||||||||
Total U.S. dollar debt
|
69,124,140
|
(1,024,349
|
)
|
68,099,791
|
71,829,685
|
|||||||||||
Mexican peso debt:
|
||||||||||||||||
7.38% Notes due 2020 (2)
|
10,000,000
|
(14,694
|
)
|
9,985,306
|
9,980,016
|
|||||||||||
TIIE + 0.35% Notes due 2021 (2)
|
6,000,000
|
(5,345
|
)
|
5,994,655
|
5,993,104
|
|||||||||||
TIIE + 0.35% Notes due 2022 (2)
|
5,000,000
|
(6,319
|
)
|
4,993,681
|
4,992,388
|
|||||||||||
8.79% Notes due 2027 (2)
|
4,500,000
|
(21,430
|
)
|
4,478,570
|
4,476,801
|
|||||||||||
8.49% Senior Notes due 2037 (1)
|
4,500,000
|
(13,534
|
)
|
4,486,466
|
4,485,922
|
|||||||||||
7.25% Senior Notes due 2043 (1)
|
6,500,000
|
(58,420
|
)
|
6,441,580
|
6,439,803
|
|||||||||||
Bank loans (3)
|
6,000,000
|
(30,289
|
)
|
5,969,711
|
5,964,354
|
|||||||||||
Bank loans (Sky) (4)
|
5,500,000
|
-
|
5,500,000
|
5,500,000
|
||||||||||||
Bank loans (TVI) (5)
|
2,411,410
|
(2,802
|
)
|
2,408,608
|
2,638,078
|
|||||||||||
Total Mexican peso debt
|
50,411,410
|
(152,833
|
)
|
50,258,577
|
50,470,466
|
|||||||||||
Total debt (6)
|
119,535,550
|
(1,177,182
|
)
|
118,358,368
|
122,300,151
|
|||||||||||
Less: Current portion of long-term debt
|
1,005,406
|
(1,009
|
)
|
1,004,397
|
307,023
|
|||||||||||
Long-term debt, net of current portion
|
Ps.
|
118,530,144
|
Ps.
|
(1,176,173
|
)
|
Ps.
|
117,353,971
|
Ps.
|
121,993,128
|
|||||||
Finance lease obligations:
|
||||||||||||||||
Satellite transponder lease obligation (7)
|
Ps.
|
4,427,482
|
Ps.
|
-
|
Ps.
|
4,427,482
|
Ps.
|
4,938,049
|
||||||||
Other (8)
|
779,382
|
-
|
779,382
|
684,725
|
||||||||||||
Total finance lease obligations
|
5,206,864
|
-
|
5,206,864
|
5,622,774
|
||||||||||||
Less: Current portion
|
683,481
|
-
|
683,481
|
580,884
|
||||||||||||
Finance lease obligations, net of current portion
|
Ps.
|
4,523,383
|
Ps.
|
-
|
Ps.
|
4,523,383
|
Ps.
|
5,041,890
|
||||||||
Other notes payable:
|
||||||||||||||||
Total other notes payable (9)
|
Ps.
|
2,559,062
|
Ps.
|
-
|
Ps.
|
2,559,062
|
Ps.
|
3,684,060
|
||||||||
Less: Current portion
|
1,279,531
|
-
|
1,279,531
|
1,178,435
|
||||||||||||
Other notes payable, net of current portion
|
Ps.
|
1,279,531
|
Ps.
|
-
|
Ps.
|
1,279,531
|
Ps.
|
2,505,625
|
(1)
|
The Senior Notes due between 2025 and 2046, in the aggregate outstanding principal amount of U.S.$3,700 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 on the Senior Notes due 2025, 2026, 2032, 2037, 2040, 2043, 2045 and 2046, 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% and 6.44% 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, i n which case the securities will be redeemable, in whole but not 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 and 2046, 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 and 2046 were priced at 99.385%, 99.431%, 98.319%, 99.733%, 96.534%, and 99.677%, respectively, for a yield to maturity of 4.70%, 8.553%, 6.755%, 7.27%, 5.227% and 6.147%, 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 and 2046 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”). In December 2017, the Company prepaid the principal outstanding amount of U.S.$500 million Senior Notes due 2018 at an aggregate redemption price of Ps.9,841,716 (U.S.$511.7 million), which included related fees and accrued and unpaid interest at the redemption date.
|
(2) |
In 2010, 2014, 2015 and October 2017, the Company issued Notes (“Certificados Bursátiles”) due 2020, 2021, 2022 and 2027, respectively, through the BMV in the aggregate principal amount of Ps.10,000,000, Ps.6,000,000, Ps.5,000,000 and Ps.4,500,000, respectively. Interest on the Notes due 2020 is 7.38% per annum and is payable semi-annually. Interest on the Notes due 2021 and 2022 is the TIIE plus 35 basis points per annum and is payable every 28 days. Interest 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 2020 and 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 Company may, at its own option, redeem the Notes due 2021 and 2022, in whole or in part, at any date at a redemption price equal to the greater of the principal amount of the outstanding Notes and an average price calculated from prices to be provided at the redemption date by two Mexican financial pricing companies. The agreement of these Notes 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 November and December 2017, the Company entered into long-term credit agreements with three Mexican banks, in the aggregate principal amount of Ps.6,000,000, and 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 spin-offs, mergers and similar transactions. The Company prepaid the remaining of certain credit agreement with Mexican Bank with original maturity in 2018 principal amount of this credit agreement in fourth quarter of 2017, in the aggregate amount of Ps.629,311, which included accrued and unpaid interest.
|
(4)
|
In March 2016, Sky (i) entered into long-term debt agreements with two Mexican banks in the aggregate principal amount of Ps.5,500,000, with maturities in 2021 and 2023, and interest payable on a monthly basis and an annual rate in the range of 7.0% and 7.13%; and (ii) prepaid to the Company an outstanding amount in connection with a long-term loan in the principal amount of Ps.3,500,000.
|
(5)
|
As of September 30, 2018 and December 31, 2017, included outstanding balances in the aggregate principal amount of Ps. 2,411,410 and Ps.2,642,027, respectively, in connection with certain credit agreements entered into by TVI with Mexican banks, with maturities between 2018 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. 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, 2018 and December 31, 2017, in the aggregate amount of Ps.1,177,182 and Ps.1,250,746, respectively, and does not include related interest payable in the aggregate amount of Ps.1,643,951 and Ps.1,796,847, respectively.
|
(7)
|
Sky is obligated to pay a monthly fee of U.S.$3.0 million under a capital lease agreement entered into with Intelsat Global Sales & Marketing Ltd. (“Intelsat”) in March 2010 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 6).
|
(8)
|
Includes minimum lease payments of property and equipment under leases that qualify as finance leases. In September 30, 2018 and December 31, 2017, includes Ps.708,872 and Ps. 571,420, 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 2020 and 2028. Other finance leases have terms, which expire at various dates between 2018 and 2020.
|
(9)
|
Notes payable issued by the Company in connection with the acquisition in 2016 of a non-controlling interest in TVI. As of September 30, 2018 and December 31, 2017, cash payments to be made between 2018 and 2020 related to these notes payable amounted to an aggregate of Ps.2,624,375 and Ps.3,808,395, respectively, including interest of Ps.249,375 and Ps. 316,395, respectively. Accumulated accrued interest for this transaction amounted to Ps.184,062 and Ps.192,060 as of September 30, 2018 and December 31, 2017, respectively. This was regarded as a Level 2 debt, which was fair valued using a discount cash flow approach, which discounts the contractual cash flows using discount rates derived from observable market price of other quotes debt instruments. In March 2017, the Group prepaid a portion of the outstanding other notes payable with original maturities in August 2017 and 2018, for an aggregate amount of Ps.1,292,438, which included accrued interest at the payment date.
|
September 30, 2018
|
December 31, 2017
|
|||||||||||||||
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 (net investment hedge)
|
U.S. |
$
|
451.1
|
Ps.
|
8,427,892
|
U.S. |
$
|
413.3
|
Ps.
|
8,144,843
|
||||||
Warrants issued by UHI (foreign currency fair value hedge)
|
1,793.7
|
33,510,145
|
1,847.0
|
36,395,183
|
||||||||||||
Open Ended Fund (foreign currency fair value hedge) (1)
|
417.4
|
7,798,773
|
180.0
|
3,546,918
|
||||||||||||
Total
|
U.S. |
$
|
2,662.2
|
Ps.
|
49,736,810
|
U.S. |
$
|
2,440.3
|
Ps.
|
48,086,944
|
(1)
|
Beginning in the second quarter of 2018, the Group has designated an additional portion of the outstanding principal amount of its U.S. dollar denominated long-term debt as a fair value hedge of foreign exchange exposure related to its entire investment in Open Ended Fund. Through March 31, 2018, the designated U.S. dollar debt for this fair value hedge of foreign exchange exposure was related to the initial investment in Open Ended Fund.
|
Less than 12 Months
October 1, 2018 to September 30, 2019
|
12-36 Months
October 1, 2019 to September 30, 2021
|
36-60 Months
October 1, 2021 to September 30, 2023
|
Maturities Subsequent to September 30, 2023
|
Total
|
||||||||||||||||
Debt (1)
|
Ps.
|
1,005,406
|
Ps.
|
18,109,978
|
Ps.
|
15,796,026
|
Ps.
|
84,624,140
|
Ps.
|
119,535,550
|
||||||||||
Finance lease obligations
|
683,481
|
1,086,696
|
1,016,369
|
2,420,318
|
5,206,864
|
|||||||||||||||
Other notes payable
|
1,279,531
|
1,279,531
|
-
|
-
|
2,559,062
|
|||||||||||||||
Total debt, finance lease obligations and other notes payable
|
Ps.
|
2,968,418
|
Ps.
|
20,476,205
|
Ps.
|
16,812,395
|
Ps.
|
87,044,458
|
Ps.
|
127,301,476
|
(1)
|
The amounts of debt are disclosed on a principal amount basis.
|
9. |
Financial Instruments
|
September 30, 2018
|
December 31, 2017
|
|||||||||||||||
Carrying Value
|
Fair Value
|
Carrying Value
|
Fair Value
|
|||||||||||||
Assets:
|
||||||||||||||||
Cash and cash equivalents
|
Ps.
|
42,426,757
|
Ps.
|
42,426,757
|
Ps.
|
38,734,949
|
Ps.
|
38,734,949
|
||||||||
Temporary investments
|
41,300
|
41,300
|
71,178
|
71,178
|
||||||||||||
Trade notes and accounts receivable, net
|
15,378,880
|
15,378,880
|
24,727,073
|
24,727,073
|
||||||||||||
Warrants issued by UHI (see Note 4)
|
33,510,145
|
33,510,145
|
36,395,183
|
36,395,183
|
||||||||||||
Long-term loans and interest receivable from GTAC (see Note 5)
|
828,664
|
835,224
|
929,516
|
937,137
|
||||||||||||
Other financial instruments (see Note 4)
|
-
|
-
|
287,605
|
284,443
|
||||||||||||
Open Ended Fund (see Note 4)
|
7,798,773
|
7,798,773
|
7,297,577
|
7,297,577
|
||||||||||||
Other Financial assets (see Note 4)
|
7,227,068
|
7,227,068
|
5,942,500
|
5,942,500
|
||||||||||||
Liabilities:
|
||||||||||||||||
Senior Notes due 2025, 2032 and 2040
|
Ps.
|
28,023,300
|
Ps.
|
32,583,812
|
Ps.
|
29,557,650
|
Ps.
|
36,635,229
|
||||||||
Senior Notes due 2045
|
18,682,200
|
17,410,689
|
19,705,100
|
20,068,856
|
||||||||||||
Senior Notes due 2037 and 2043
|
11,000,000
|
8,488,120
|
11,000,000
|
9,171,610
|
||||||||||||
Senior Notes due 2026 and 2046
|
22,418,640
|
23,965,750
|
23,646,120
|
27,294,835
|
||||||||||||
Notes due 2020
|
10,000,000
|
9,712,700
|
10,000,000
|
9,702,300
|
||||||||||||
Notes due 2021
|
6,000,000
|
5,942,766
|
6,000,000
|
6,090,900
|
||||||||||||
Notes due 2022
|
5,000,000
|
4,929,320
|
5,000,000
|
5,063,300
|
||||||||||||
Notes due 2027
|
4,500,000
|
4,233,915
|
4,500,000
|
4,442,940
|
||||||||||||
Long-term notes payable to Mexican banks
|
13,911,410
|
13,705,187
|
14,142,027
|
13,917,175
|
||||||||||||
Finance lease obligations
|
5,206,864
|
5,104,588
|
5,622,774
|
5,360,933
|
||||||||||||
Other notes payable
|
2,559,062
|
2,357,619
|
3,684,060
|
3,319,414
|
September 30, 2018:
Derivative Financial Instruments
|
Carrying Value
|
Notional Amount (U.S. Dollars in Thousands)
|
Maturity Date
|
||||||
Assets:
|
|||||||||
Derivatives not recorded as accounting hedges:
|
|||||||||
TVI’s options
|
Ps.
|
3,355
|
U.S.$
|
41,250
|
December 2018
|
||||
Empresas Cablevision´s options
|
4,972
|
U.S.$
|
85,625
|
December 2018
|
|||||
Options
|
45,772
|
U.S.$
|
613,750
|
December 2018
|
|||||
Derivatives recorded as accounting hedges (cash flow hedges):
|
|||||||||
TVI’s interest rate swap
|
39,970
|
Ps.
|
1,221,933
|
April 2019 through May 2022
|
|||||
TVI’s interest rate swap
|
18,041
|
Ps.
|
1,215,101
|
April 2022
|
|||||
Interest rate swap
|
274,442
|
Ps.
|
6,000,000
|
April 2021
|
|||||
Interest rate swap
|
207,427
|
Ps.
|
5,000,000
|
May 2022
|
|||||
Interest rate swap
|
39,902
|
Ps.
|
2,000,000
|
October 2022
|
|||||
Interest rate swap
|
29,017
|
Ps.
|
1,500,000
|
October 2022
|
|||||
Interest rate swap
|
14,089
|
Ps.
|
2,500,000
|
February 2023
|
|||||
Total assets
|
Ps.
|
676,987
|
|||||||
Liabilities:
|
|||||||||
Derivatives not recorded as accounting hedges:
|
|||||||||
TVI’s forwards
|
Ps.
|
9,151
|
U.S.$
|
20,000
|
January 2019 through March 2019
|
||||
Empresas Cablevision´s forwards
|
11,550
|
U.S.$
|
26,000
|
January 2019 through March 2019
|
|||||
Forward
|
51,165
|
U.S.$
|
155,100
|
October 2018 through March 2019
|
|||||
Derivatives recorded as accounting hedges (cash flow hedges):
|
|||||||||
Forward
|
69,599
|
Ps.
|
249,000
|
November 2018 through November 2019
|
|||||
Total liabilities
|
Ps.
|
141,465
|
|||||||
December 31, 2017:
Derivative Financial Instruments
|
Carrying Value
|
Notional Amount (U.S. Dollars in Thousands)
|
Maturity Date
|
||||||
Assets:
|
|||||||||
Derivatives not recorded as accounting hedges:
|
|||||||||
TVI’s options
|
Ps.
|
100,700
|
U.S.$
|
96,250
|
December 2018
|
||||
Empresas Cablevision´s options
|
110,137
|
U.S.$
|
115,000
|
December 2018
|
|||||
Options
|
795,010
|
U.S.$
|
779,250
|
December 2018
|
|||||
Forward
|
397,037
|
U.S.$
|
230,400
|
January 2018 through December 2018
|
|||||
Derivatives recorded as accounting hedges (cash flow hedges):
|
|||||||||
TVI’s interest rate swap
|
61,997
|
Ps.
|
1,296,783
|
April 2019 through May 2022
|
|||||
TVI’s interest rate swap
|
22,112
|
Ps.
|
1,370,868
|
April 2022
|
|||||
Interest rate swap
|
344,958
|
Ps.
|
6,000,000
|
April 2021
|
|||||
Interest rate swap
|
241,561
|
Ps.
|
5,000,000
|
May 2022
|
|||||
Interest rate swap
|
43,222
|
Ps.
|
2,000,000
|
October 2022
|
|||||
Interest rate swap
|
31,906
|
Ps.
|
1,500,000
|
October 2022
|
|||||
Interest rate swap
|
3,077
|
Ps.
|
1,000,000
|
February 2023
|
|||||
Forward
|
112,157
|
U.S.$
|
224,000
|
January 2018 through November 2018
|
|||||
Total assets
|
Ps.
|
2,263,874
|
10. |
Capital Stock and Long-term Retention Plan
|
Authorized and Issued(1)
|
Repurchased by the Company (2) (4)
|
Held by a Company´s Trust (3)
|
Outstanding
|
|
Series “A” Shares
|
122,179.4
|
-
|
(5,525.9)
|
116,653.5
|
Series “B” Shares
|
58,019.7
|
-
|
(4,510.9)
|
53,508.8
|
Series “D” Shares
|
88,554.1
|
-
|
(3,426.5)
|
85,127.6
|
Series “L” Shares
|
88,554.1
|
-
|
(3,426.5)
|
85,127.6
|
Total
|
357,307.3
|
-
|
(16,889.8)
|
340,417.5
|
Shares in the form of CPOs
|
296,023.0
|
-
|
(11,454.4)
|
284,568.6
|
Shares not in the form of CPOs
|
61,284.3
|
-
|
(5,435.4)
|
55,848.9
|
Total
|
357,307.3
|
-
|
(16,889.8)
|
340,417.5
|
CPOs
|
2,530.1
|
-
|
(97.9)
|
2,432.2
|
(1)
|
As of September 30, 2018, the authorized and issued capital stock amounted to Ps.4,907,765 (nominal Ps.2,459,154).
|
(2)
|
During the nine months ended September 30, 2018, the Company repurchased 2,977.6 million shares, in the form of 25.5 million CPOs, in the amount of Ps.1,541,180, in connection with a share repurchase program that was approved by the Company’s stockholders.
|
(3)
|
In connection with the Company’s Long-Term Retention Plan.
|
(4)
|
On April 27, 2018, the Company’s stockholders approved to cancel in May 2018, 5,122.6 million shares of the Company’s capital stock in the form of 43.8 million CPOs, which were repurchased or acquired by the Company in 2017 and 2018.
|
Series “A” Shares
|
Series “B” Shares
|
Series “D” Shares
|
Series “L” Shares
|
Shares Outstanding
|
CPOs Outstanding
|
|||||||||||||||||||
As of January 1, 2018
|
116,787.7
|
53,935.8
|
85,806.8
|
85,806.8
|
342,337.1
|
2,451.6
|
||||||||||||||||||
Repurchased (1)
|
(636.3
|
)
|
(559.9
|
)
|
(890.7
|
)
|
(890.7
|
)
|
(2,977.6
|
)
|
(25.5
|
)
|
||||||||||||
Acquired (2)
|
(627.9
|
)
|
(552.6
|
)
|
(879.1
|
)
|
(879.1
|
)
|
(2,938.7
|
)
|
(25.1
|
)
|
||||||||||||
Released (2)
|
1,130.0
|
685.5
|
1,090.6
|
1,090.6
|
3,996.7
|
31.2
|
||||||||||||||||||
As of September 30, 2018
|
116,653.5
|
53,508.8
|
85,127.6
|
85,127.6
|
340,417.5
|
2,432.2
|
Series “A” Shares
|
Series“B” Shares
|
Series “D” Shares
|
Series “L” Shares
|
Shares Outstanding
|
CPOs Outstanding
|
|||||||||||||||||||
As of January 1, 2017
|
116,283.3
|
53,800.8
|
85,592.1
|
85,592.1
|
341,268.3
|
2,445.5
|
||||||||||||||||||
Acquired (2)
|
(265.0
|
)
|
(233.2
|
)
|
(370.9
|
)
|
(370.9
|
)
|
(1,240.0
|
)
|
(10.6
|
)
|
||||||||||||
Released (2)
|
1,337.9
|
868.6
|
1,381.6
|
1,381.6
|
4,969.7
|
39.5
|
||||||||||||||||||
As of September 30, 2017
|
117,356.2
|
54,436.2
|
86,602.8
|
86,602.8
|
344,998.0
|
2,474.4
|
(1)
|
In connection with a share repurchase program.
|
(2)
|
By a Company’s trust in connection with the Company’s Long-Term Retention Plan.
|
11. |
Retained Earnings
|
12. |
Transactions with Related Parties
|
September 30, 2018
|
December 31, 2017
|
|||||||
Current receivables:
|
||||||||
UHI, including Univision (1)
|
Ps.
|
759,895
|
Ps.
|
657,601
|
||||
Operadora de Centros de Espectáculos, S.A de C.V.
|
4,280
|
41,080
|
||||||
Televisa CJ Grand, S.A. de C.V. (Televisa CJ Grand)
|
2,519
|
77,991
|
||||||
Editorial Clío, Libros y Videos, S.A. de C.V.
|
6,447
|
23,045
|
||||||
Other
|
60,141
|
60,503
|
||||||
Ps.
|
833,282
|
Ps.
|
860,220
|
|||||
Current payable:
|
||||||||
UHI, including Univision (1)
|
Ps.
|
698,154
|
Ps.
|
964,959
|
||||
GTAC
|
45,433
|
17,754
|
||||||
Other
|
13,516
|
8,756
|
||||||
Ps.
|
757,103
|
Ps.
|
991,469
|
(1)
|
As of September 30, 2018 and December 31, 2017, the Group recognized a provision in the amount of Ps.698,154 and Ps.964,959, respectively, associated with a consulting arrangement entered into by the Group, UHI and an entity controlled by the chairman of the Board of Directors of UHI, by which upon consummation of a qualified initial public offering of the shares of UHI or an alternative exit plan for the main current investors in UHI, the Group would pay the entity a portion of a defined appreciation in excess of certain preferred returns and performance thresholds of UHI. As of September 30, 2018 and December 31, 2017, receivables from UHI related primarily to the PLA amounted to Ps.759,895 and Ps.657,601, respectively.
|
13. |
Other Income or Expense, Net
|
September 30, 2018
|
September 30, 2017
|
|||||||
Gain on dispositions of investments (1)
|
Ps.
|
3,582,681
|
Ps.
|
26
|
||||
Donations
|
(46,616
|
)
|
(79,291
|
)
|
||||
Legal and financial advisory professional services (2)
|
(85,858
|
)
|
(167,283
|
)
|
||||
Loss on disposition of property and equipment
|
(167,826
|
)
|
(162,458
|
)
|
||||
Deferred compensation
|
(188,840
|
)
|
(224,975
|
)
|
||||
Dismissal severance expense (3)
|
(359,922
|
)
|
(728,148
|
)
|
||||
Impairment adjustment (4)
|
(34,564
|
)
|
(73,390
|
)
|
||||
Other (expense) income, net (5)
|
(47,681
|
)
|
138,669
|
|||||
Ps.
|
2,651,374
|
Ps.
|
(1,296,850
|
)
|
(1)
|
Includes for the nine months ended September 30, 2018, a gain of Ps.3,547,387 on disposition of a 19.9% equity in Imagina, and a gain of Ps.85,000 on disposition of a 50% equity in Televisa CJ Grand, a joint venture for a home shopping channel in Mexico (see Notes 3 and 5).
|
(2)
|
Includes primarily legal, financial advisory and professional services in connection with certain litigation and other matters.
|
(3)
|
Includes severance expense in connection with dismissals of personnel, as part of a cost reduction plan.
|
(4)
|
In 2018, the Group recognized an impairment adjustment in connection with trademarks in its Publishing business.
|
(5)
|
Certain 2017 figures previously reported as part of operating results of the Group´s Other Businesses segment in the net amount of Ps.36,610 and related to a Publishing business in Argentina and an online lottery business in Mexico, were reclassified for comparison purposes to other expense, net, as the businesses were disposed by the Group in the fourth quarter of 2017 (see Note 17).
|
14. |
Finance Expense, Net
|
September 30, 2018
|
September 30, 2017(1)
|
|||||||
Interest expense
|
Ps.
|
(7,036,960
|
)
|
Ps.
|
(6,690,433
|
)
|
||
Other finance expense, net (3)
|
(1,113,426
|
)
|
-
|
|||||
Finance expense
|
(8,150,386
|
)
|
(6,690,433
|
)
|
||||
Interest income (4)
|
1,162,044
|
972,007
|
||||||
Foreign exchange gain, net (2)
|
523,110
|
1,864,014
|
||||||
Other finance income, net (3)
|
-
|
9,164
|
||||||
Finance income
|
1,685,154
|
2,845,185
|
||||||
Finance expense, net
|
Ps.
|
(6,465,232
|
)
|
Ps.
|
(3,845,248
|
)
|
(1)
|
The Company restated, for comparison purposes, certain amounts previously reported as of September 30, 2017, in connection with the initial recognition of IFRS 9, as if the accounting change had been applied beginning on January 1, 2017 (see Note 2).
|
(2)
|
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 and Open Ended Fund, during the nine months ended September 30, 2018 and 2017; 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, 2018 and 2017 (see Note 8). The exchange rate of the Mexican peso against the U.S. dollar was of Ps.18.6822, Ps.19.7051, Ps.18.2250 and Ps.20.6356 as of September 30, 2018, December 31, 2017, September 30, 2017 and December 31, 2016, respectively.
|
(3)
|
In 2018 and 2017, other finance income or expense, net, included gain or loss from derivative financial instruments.
|
(4)
|
In 2018 and 2017, this line item included primarily gains from cash equivalents and instruments held for trading.
|
15. |
Income Taxes
|
16. |
Earnings per CPO/Share
|
September 30, 2018
|
September 30, 2017
|
|
Total Shares
|
340,766,999
|
344,045,439
|
CPOs
|
2,436,296
|
2,467,207
|
Shares not in the form of CPO units:
|
||
Series “A” Shares
|
55,719,661
|
55,381,518
|
Series “B” Shares
|
187
|
187
|
Series “D” Shares
|
239
|
239
|
Series “L” Shares
|
239
|
239
|
2018
|
2017
|
|||||||||||||||
Per CPO
|
Per Shares(*)
|
Per CPO
|
Per Shares(*)
|
|||||||||||||
Net income attributable to stockholders of the Company
|
Ps.
|
2.05
|
Ps.
|
0.02
|
Ps.
|
1.24
|
Ps.
|
0.01
|
September 30, 2018
|
September 30, 2017
|
|
Total Shares
|
358,998,776
|
362,429,887
|
CPOs
|
2,544,568
|
2,573,894
|
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
|
2018
|
2017
|
|||||||||||||||
Per CPO
|
Per Shares(*)
|
Per CPO
|
Per Shares(*)
|
|||||||||||||
Net income attributable to stockholders of the Company
|
Ps.
|
1.94
|
Ps.
|
0.02
|
Ps.
|
1.18
|
Ps.
|
. 0.01
|
17. |
Segment Information
|
Total
Revenues |
Intersegment
Revenues |
Consolidated
Revenues |
Segment
Income |
||||||||||||||
2018:
|
|||||||||||||||||
Content
|
Ps.
|
28,580,862
|
Ps.
|
2,126,551
|
Ps.
|
26,454,311
|
Ps.
|
10,818,400
|
|||||||||
Sky
|
16,540,325
|
322,191
|
16,218,134
|
7,552,707
|
|||||||||||||
Cable
|
26,715,314
|
422,795
|
26,292,519
|
11,296,829
|
|||||||||||||
Other Businesses
|
6,037,561
|
455,443
|
5,582,118
|
523,699
|
|||||||||||||
Segment total
|
77,874,062
|
3,326,980
|
74,547,082
|
30,191,635
|
|||||||||||||
Reconciliation to consolidated amounts:
|
|||||||||||||||||
Eliminations and corporate expenses
|
(3,326,980
|
)
|
(3,326,980
|
)
|
-
|
(1,567,935
|
)
|
||||||||||
Depreciation and amortization
|
-
|
-
|
-
|
(14,686,728
|
)
|
||||||||||||
Consolidated total before other income
|
74,547,082
|
-
|
74,547,082
|
13,936,972
|
(1)
|
||||||||||||
Other income, net
|
-
|
-
|
-
|
2,651,374
|
|||||||||||||
Consolidated total
|
Ps.
|
74,547,082
|
Ps.
|
-
|
Ps.
|
74,547,082
|
Ps.
|
16,588,346
|
(2)
|
Total
Revenues |
Intersegment
Revenues |
Consolidated
Revenues |
Segment
Income |
||||||||||||||
2017:
|
|||||||||||||||||
Content
|
Ps.
|
23,391,463
|
Ps.
|
1,867,968
|
Ps.
|
21,523,495
|
Ps.
|
8,905,712
|
|||||||||
Sky
|
16,627,715
|
77,347
|
16,550,368
|
7,782,536
|
|||||||||||||
Cable
|
24,455,437
|
116,431
|
24,339,006
|
10,363,068
|
|||||||||||||
Other Businesses (3)
|
5,570,136
|
388,784
|
5,181,352
|
275,553
|
|||||||||||||
Segment total
|
70,044,751
|
2,450,530
|
67,594,221
|
27,326,869
|
|||||||||||||
Reconciliation to consolidated amounts:
|
|||||||||||||||||
Eliminations and corporate expenses
|
(2,450,530
|
)
|
(2,450,530
|
)
|
-
|
(1,684,805
|
)
|
||||||||||
Depreciation and amortization
|
-
|
-
|
-
|
(13,731,734
|
)
|
||||||||||||
Consolidated total before other expense
|
67,594,221
|
-
|
67,594,221
|
11,910,330
|
(1)
|
||||||||||||
Other expense, net
|
-
|
-
|
-
|
(1,296,850
|
)
|
||||||||||||
Consolidated total
|
Ps.
|
67,594,221
|
Ps.
|
-
|
Ps.
|
67,594,221
|
Ps.
|
10,613,480
|
(2)
|
(1)
|
This amount represents operating income before other expense, net.
|
(2)
|
This amount represents consolidated operating income.
|
(3)
|
Certain 2017 figures for the nine months ended September 30, 2017, previously reported as part of operating results of the Group´s Other Businesses segment in the net amount of Ps.36,610 and related to a Publishing business in Argentina and an online lottery business in Mexico, were reclassified for comparison purposes to other expense, net, as the businesses were disposed of or suspended by the Group in the fourth quarter of 2017 (see Note 13).
|
Domestic
|
Export
|
Abroad
|
Total
|
|||||||||||||
September 30, 2018:
|
||||||||||||||||
Content:
|
||||||||||||||||
Advertising
|
Ps.
|
14,411,454
|
Ps.
|
178,287
|
Ps.
|
-
|
Ps.
|
14,589,741
|
||||||||
Network Subscription Revenue
|
2,584,667
|
978,034
|
-
|
3,562,701
|
||||||||||||
Licensing and Syndication
|
841,081
|
9,587,339
|
-
|
10,428,420
|
||||||||||||
Sky:
|
||||||||||||||||
DTH Broadcast Satellite TV
|
14,686,181
|
-
|
1,044,607
|
15,730,788
|
||||||||||||
Advertising
|
690,366
|
-
|
-
|
690,366
|
||||||||||||
Pay-Per-View
|
109,438
|
-
|
9,733
|
119,171
|
||||||||||||
Cable:
|
||||||||||||||||
Digital TV Service
|
10,535,117
|
-
|
-
|
10,535,117
|
||||||||||||
Advertising
|
871,429
|
-
|
-
|
871,429
|
||||||||||||
Broadband Services
|
9,674,544
|
-
|
-
|
9,674,544
|
||||||||||||
Telephony
|
1,884,554
|
-
|
-
|
1,884,554
|
||||||||||||
Other Services
|
416,459
|
-
|
-
|
416,459
|
||||||||||||
Enterprise Operations
|
3,220,518
|
-
|
112,693
|
3,333,211
|
||||||||||||
Other Businesses:
|
||||||||||||||||
Gaming
|
1,934,910
|
-
|
-
|
1,934,910
|
||||||||||||
Soccer, Sports and Show Business Promotion
|
1,094,579
|
92,721
|
-
|
1,187,300
|
||||||||||||
Publishing - Magazines
|
410,906
|
-
|
83,514
|
494,420
|
||||||||||||
Publishing - Advertising
|
338,120
|
-
|
130,244
|
468,364
|
||||||||||||
Publishing Distribution
|
208,935
|
-
|
27,602
|
236,537
|
||||||||||||
Radio - Advertising
|
665,972
|
-
|
-
|
665,972
|
||||||||||||
Feature Film Production and Distribution
|
607,133
|
3,261
|
439,664
|
1,050,058
|
||||||||||||
Segment total
|
65,186,363
|
10,839,642
|
1,848,057
|
77,874,062
|
||||||||||||
Intersegment eliminations
|
(3,320,478
|
)
|
-
|
(6,502
|
)
|
(3,326,980
|
)
|
|||||||||
Consolidated total revenues
|
Ps.
|
61,865,885
|
Ps.
|
10,839,642
|
Ps.
|
1,841,555
|
Ps.
|
74,547,082
|
Domestic
|
Export
|
Abroad
|
Total
|
|||||||||||||
September 30, 2017:
|
||||||||||||||||
Content:
|
||||||||||||||||
Advertising
|
Ps.
|
13,611,764
|
Ps.
|
198,963
|
Ps.
|
87,905
|
Ps.
|
13,898,632
|
||||||||
Network Subscription Revenue
|
1,910,961
|
1,002,057
|
-
|
2,913,018
|
||||||||||||
Licensing and Syndication
|
633,532
|
5,946,281
|
-
|
6,579,813
|
||||||||||||
Sky:
|
||||||||||||||||
DTH Broadcast Satellite TV
|
14,962,346
|
-
|
1,169,888
|
16,132,234
|
||||||||||||
Advertising
|
353,057
|
-
|
-
|
353,057
|
||||||||||||
Pay-Per-View
|
142,424
|
-
|
-
|
142,424
|
||||||||||||
Cable:
|
||||||||||||||||
Digital TV Service
|
9,664,672
|
-
|
-
|
9,664,672
|
||||||||||||
Advertising
|
485,597
|
-
|
-
|
485,597
|
||||||||||||
Broadband Services
|
8,340,348
|
-
|
-
|
8,340,348
|
||||||||||||
Telephony
|
2,174,921
|
-
|
-
|
2,174,921
|
||||||||||||
Other Services
|
377,543
|
-
|
-
|
377,543
|
||||||||||||
Enterprise Operations
|
3,166,914
|
-
|
245,442
|
3,412,356
|
||||||||||||
Other Businesses:
|
||||||||||||||||
Gaming
|
1,898,776
|
-
|
-
|
1,898,776
|
||||||||||||
Soccer, Sports and Show Business Promotion
|
910,599
|
86,781
|
-
|
997,380
|
||||||||||||
Publishing - Magazines
|
351,529
|
-
|
125,925
|
477,454
|
||||||||||||
Publishing - Advertising
|
446,457
|
-
|
194,744
|
641,201
|
||||||||||||
Publishing Distribution
|
200,712
|
-
|
50,309
|
251,021
|
||||||||||||
Radio - Advertising
|
588,513
|
-
|
-
|
588,513
|
||||||||||||
Feature Film Production and Distribution
|
524,448
|
45,250
|
146,093
|
715,791
|
||||||||||||
Segment total
|
60,745,113
|
7,279,332
|
2,020,306
|
70,044,751
|
||||||||||||
Intersegment eliminations
|
(2,435,689
|
)
|
-
|
(14,841
|
)
|
(2,450,530
|
)
|
|||||||||
Consolidated total revenues
|
Ps.
|
58,309,424
|
Ps.
|
7,279,332
|
Ps.
|
2,005,465
|
Ps.
|
67,594,221
|
Quarter
|
Quarterly
|
Accumulated(1)
|
4th/17
|
343,336
|
3,973,387
|
1st/18
|
677,558
|
677,558
|
2nd/18
|
4,297,372
|
4,974,930
|
3rd/18
|
978,011
|
5,952,941
|
(1)
|
The Company restated, for comparison purposes certain amounts previously reported as of September 30, 2017, in connection with the initial recognition of IFRS 9, as if the accounting change had been applied beginning on January 1, 2017 (see Note 2).
|
18. |
Contingencies
|
(a)
|
Basis of Presentation
|
(b)
|
Consolidation
|
Entity
|
Company’s
Ownership Interest (1) |
Business
Segment (2) |
Grupo Telesistema, S.A. de C.V. and subsidiaries
|
100%
|
Content and Other Businesses
|
Televisa, S.A. de C.V. (“Televisa”) (3)
|
100%
|
Content
|
G.Televisa-D, S.A. de C.V. (3)
|
100%
|
Content
|
Multimedia Telecom, S.A. de C.V. (“Multimedia Telecom”) and subsidiary (4)
|
100%
|
Content
|
Innova, S. de R.L. de C.V. (“Innova”) and subsidiaries (collectively, “Sky”) (5)
|
58.7%
|
Sky
|
Corporativo Vasco de Quiroga, S.A. de C.V. (“CVQ”) and subsidiaries (6)
|
100%
|
Cable and Sky
|
Empresas Cablevisión, S.A.B. de C.V. and subsidiaries (collectively, “Empresas Cablevisión”) (7)
|
51%
|
Cable
|
Subsidiaries engaged in the Cablemás business (collectively, “Cablemás”) (8)
|
100%
|
Cable
|
Televisión Internacional, S.A. de C.V. and subsidiaries (collectively, “TVI”) (9)
|
100%
|
Cable
|
Cablestar, S.A. de C.V. and subsidiaries (collectively, “Bestel”) (10)
|
66.1%
|
Cable
|
Arretis, S.A.P.I. de C.V. and subsidiaries (collectively, “Cablecom”) (11)
|
100%
|
Cable
|
Subsidiaries engaged in the Telecable business (collectively, “Telecable”) (12)
|
100%
|
Cable
|
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
|
Sistema Radiópolis, S.A. de C.V. (“Radiópolis”) and subsidiaries (13)
|
50%
|
Other Businesses
|
Televisa Juegos, S.A. de C.V. and subsidiaries
|
100%
|
Other Businesses
|
Villacezán, S.A. de C.V. (“Villacezán”) and subsidiaries (14)
|
100%
|
Other Businesses
|
(1)
|
Percentage of equity interest directly or indirectly held by the Company.
|
(2)
|
See Note 25 for a description of each of the Group’s business segments.
|
(3)
|
Televisa and G.Televisa-D, S.A. de C.V. are direct subsidiaries of Grupo Telesistema, S.A. de C.V.
|
(4)
|
Multimedia Telecom and its direct subsidiary, Comunicaciones Tieren, S.A. de C.V. (“Tieren”), are wholly-owned subsidiaries of the Company through which it owns shares of the capital stock of UHI and maintains an investment in Warrants that are exercisable for shares of common stock of UHI. As of December 31, 2017 and 2016, 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 Warrants issued by UHI (see Notes 9, 10 and 19).
|
(5)
|
Innova is an indirect majority-owned subsidiary of the Company 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.
|
(6)
|
CVQ is a direct subsidiary of the Company and the parent company of Empresas Cablevisión, Cablemás, TVI, Bestel, Cablecom, Telecable and Innova. In September 2016, Factum Más Telecom, S.A. de C.V., a former direct subsidiary of the Company and the parent company of Innova Holdings and Innova was merged into CVQ. At the consolidated level, this merger had no effect (see Note 3).
|
(7)
|
Empresas Cablevisión, S.A.B. de C.V. is a direct majority-owned subsidiary of CVQ. Through April 2015, Empresas Cablevisión, S.A.B. de C.V. was directly owned by Editora Factum, S.A. de C.V., a direct subsidiary of the Company that was merged into CVQ in May 2015. At the consolidated level, the merger had no effect.
|
(8)
|
The Cablemás subsidiaries are directly and indirectly owned by CVQ. In January 2015, some Cablemás subsidiaries were directly owned by the Company, and some other subsidiaries were directly owned by TTelecom H, S.A.P.I. de C.V. (“TTelecom”), a former direct subsidiary of the Company, which was merged into CVQ in July 2015. The Cablemás subsidiaries directly owned by the Company were acquired by a direct subsidiary of CVQ in the second half of 2015. In June 2016, three former subsidiaries of Grupo Cable TV, S.A. de C.V. were merged into a Cablemás subsidiary. At the consolidated level, the mergers had no effect.
|
(9)
|
Televisión Internacional, S.A. de C.V. is a direct subsidiary of CVQ. Through February 2016, the Company had a 50% ownership interest in TVI, and consolidated this subsidiary because it appointed the majority of the members of the Board of Directors of TVI. In March 2016, the Company acquired the remaining 50% non-controlling interest in TVI (see Note 3).
|
(10)
|
Cablestar, S.A. de C.V. is an indirect majority-owned subsidiary of CVQ and Empresas Cablevisión, S.A.B. de C.V.
|
(11)
|
Through the third quarter of 2016, Grupo Cable TV, S.A. de C.V. (“Grupo Cable TV”) was an indirect subsidiary of CVQ. In June 2016, three former subsidiaries of Grupo Cable TV were merged into a Cablemás subsidiary. In the fourth quarter of 2016, Grupo Cable TV merged into Arretis, S.A.P.I. de C.V., a direct subsidiary of CVQ. At the consolidated level, the mergers had no effect.
|
(12)
|
The Telecable subsidiaries are directly owned by CVQ as a result of the merger of TTelecom into CVQ in July 2015. TTelecom was a wholly-owned subsidiary of the Company through which the Company acquired Telecable in January 2015 (see Note 3).
|
(13)
|
Radiópolis is a direct subsidiary of the Company. The Company controls Radiópolis as it has the right to appoint the majority of the members of the Board of Directors of Radiópolis.
|
(14)
|
Villacezán is an indirect subsidiary of Grupo Telesistema, S.A. de C.V. Certain subsidiaries of the Company in the Other Businesses segment, owned by TTelecom, were acquired by Villacezán in the third quarter of 2015, following the merger described above of TTelecom into CVQ.
|
Segments
|
Expiration Dates
|
Content (broadcasting concessions)
|
In 2021
|
Sky
|
Various from 2018 to 2027
|
Cable
|
Various from 2018 to 2046
|
Other Businesses:
|
|
Radio (1)
|
Various from 2019 to 2037
|
Gaming
|
In 2030
|
(1)
|
Concessions for six Radio stations in the cities of San Luis Potosí, Guadalajara and Monterrey expired in 2015 and 2016, and were renewed in 2017 by the IFT. Concessions for nine Radio stations in the cities of Mexico City, Guadalajara and Veracruz expired in 2016, and were renewed by the IFT that year. The costs paid by the Group for renewal of these concessions in 2017 and 2016 amounted to an aggregate of Ps.37,848 and Ps.111,636, respectively. In addition, IFT granted in 2017 two new concessions to the Group in Ensenada and Puerto Vallarta. The cost paid by the Group for obtaining these concessions amounted to an aggregate of Ps.85,486. The amounts for renewal and obtaining new concessions were recognized in consolidated other intangible assets, and will be amortized in a period of 20 years by using the straight-line method (see Note 12).
|
(c)
|
Investments in Associates and Joint Ventures
|
(d)
|
Segment Reporting
|
(e)
|
Foreign Currency Translation
|
(f)
|
Cash and Cash Equivalents and Temporary Investments
|
(g)
|
Transmission Rights and Programming
|
(h)
|
Inventories
|
(i)
|
Financial Assets
|
(j)
|
Property, Plant and Equipment
|
Estimated Useful lives
|
|
Buildings
|
20-65 years
|
Building improvements
|
5-20 years
|
Technical equipment
|
3-30 years
|
Satellite transponders
|
15 years
|
Furniture and fixtures
|
3-15 years
|
Transportation equipment
|
4-8 years
|
Computer equipment
|
3-6 years
|
Leasehold improvements
|
5-30 years
|
(k)
|
Intangible Assets
|
Estimated Useful lives
|
|
Trademarks
|
4 years
|
Licenses
|
3-14 years
|
Subscriber lists
|
4-10 years
|
Other intangible assets
|
3-20 years
|
(l)
|
Impairment of Long-lived Assets
|
(m)
|
Trade Accounts Payable and Accrued Expenses
|
(n)
|
Debt
|
(o)
|
Customer Deposits and Advances
|
(p)
|
Provisions
|
(q)
|
Equity
|
(r)
|
Revenue Recognition
|
•
|
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.
|
•
|
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.
|
•
|
Cable television, internet and telephone subscription, and pay-per-view and installation fees are recognized in the period in which the services are rendered.
|
•
|
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.
|
•
|
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.
|
(s)
|
Interest Income
|
(t)
|
Employee Benefits
|
(u)
|
Income Taxes
|
(v)
|
Derivative Financial Instruments
|
(w)
|
Comprehensive Income
|
(x)
|
Share-based Payment Agreements
|
(y)
|
Leases
|
(z)
|
New and Amended IFRSs
|
New or Amended Standard
|
Title of the 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 15
|
Revenue from Contracts with Customers
|
January 1, 2018
|
Amendments to IFRS 15
|
Effective Date of IFRS 15
|
January 1, 2018
|
Amendments to IFRS 15
|
Clarifications to IFRS 15 Revenue from Contracts with Customers
|
January 1, 2018
|
IFRS 9
|
Financial Instruments
|
January 1, 2018
|
Amendments to IAS 40 (2)
|
Transfers of Investment Property
|
January 1, 2018
|
IFRIC 22 (1)
|
Foreign Currency Transactions and Advance Consideration
|
January 1, 2018
|
Amendments to IFRS 2 (1)
|
Classification and Measurement of Share-based Payment Transactions
|
January 1, 2018
|
IFRS 16
|
Leases
|
January 1, 2019
|
Amendments to IFRS 4 (2)
|
Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts
|
No earlier than 2020
|
IFRS 17 (2)
|
Insurance Contracts
|
January 1, 2021
|
IFRIC 23 (1)
|
Uncertainty over Income Tax Treatments
|
January 1, 2019
|
Practice Statement 2
|
Making Materiality Judgements
|
September 14, 2017
|
Annual Improvements (1)
|
Annual Improvements to IFRS Standards 2015-2017 Cycle
|
January 1, 2019
|
Amendments to IAS 28 (1)
|
Long-term Interests in Associates and Joint Ventures
|
January 1, 2019
|
Amendments to IFRS 9 (1)
|
Prepayment Features with Negative Compensation
|
January 1, 2019
|
Amendments to IAS 19 (1)
|
Plan Amendment, Curtailment or Settlement
|
January 1, 2019
|
Standard
|
Subject of Amendment
|
IFRS 3 Business Combinations
|
Previously held interest in a joint operation.
|
IFRS 11 Joint Arrangements
|
Previously held interest in a joint operation.
|
IAS 12 Income Taxes
|
Income tax consequences of payments on financial instruments classified as equity.
|
IAS 23 Borrowing Costs
|
Borrowing costs eligible for capitalization.
|
Dividends paid, ordinary shares:
|
[8] 1,068,868,000.00
|
Dividends paid, other shares:
|
0
|
Dividends paid, ordinary shares per share:
|
[9] 0.002991453
|
Dividends paid, other shares per share:
|
0
|
Ps.
|
18.6822
|
pesos per US dollar
|
|
21.7073
|
pesos per euro
|
||
14.4634
|
pesos per canadian dollar
|
||
0.4903
|
pesos per argentinean peso
|
||
0.5657
|
pesos per uruguayan peso
|
||
0.0280
|
pesos per chilean peso
|
||
0.0062
|
pesos per colombian peso
|
||
5.6612
|
pesos per peruvian nuevo sol
|
||
19.1164
|
pesos per swiss franc
|
||
2.9654
|
pesos per strong bolivar
|
||
4.0268
|
pesos per brazilian real
|
||
24.3791
|
pesos per pound sterling
|
||
2.7219
|
pesos per chinese yuan
|
||
2.1050
|
pesos per swedish krona
|
STOCK EXCHANGE CODE: TLEVISA
|
QUARTER: 03
|
YEAR: 2018
|
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 FERREIRO RIVAS | /s/ LUIS ALEJANDRO BUSTOS OLIVARES | |
CARLOS FERREIRO RIVAS
|
LUIS ALEJANDRO BUSTOS OLIVARES
|
|
VICE PRESIDENT OF FINANCE
|
LEGAL VICE PRESIDENT AND
|
|
GENERAL COUNSEL
|
GRUPO TELEVISA, S.A.B.
|
|||
(Registrant)
|
|||
Dated: November 1, 2018
|
By:
|
/s/ Luis Alejandro Bustos Olivares
|
|
Name: |
Luis Alejandro Bustos Olivares
|
||
Title:
|
Legal Vice President and General Counsel
|