- Consolidated net sales and operating segment income grew by 6.4% and 8.5%, respectively
- Royalties from Univision reached US$70.5 million, a 9.9% increase compared to the second-quarter last year.
- Record revenues in Pay-Television Sky reached 4 billion pesos (aproximately US$ 380 million) with an operating segment income margin of 47.0%
- Cable & Telecom reached 4.7 million revenue generating units, with strong growth in data and voice of 23.9% and 16.2%, respectively.
- Net income attributable to stockholders of the Company reached 1.8 billion pesos, a 30.7% increase from the second-quarter last year
The table above shows the consolidated statements of income for the quarters ended June 30, 2013 and 2012, in millions of Mexican pesos, as well as the percentage that each line represents of net sales and the percentage change when comparing 2013 with 2012.
Net sales increased 6.4% to Ps.18,065.0 million (aproximately US$ 1.5 billion) in the second-quarter 2013 compared with Ps.16,983.8 million in second-quarter 2012. This increase was mainly attributable to revenue growth in Content, Cable and Telecom, and Sky segments, partially compensated by a decrease in Publishing net sales. Operating segment income increased 8.5%, reaching Ps .7,733.7 million with a margin of 42.0%. Net income attributable to stockholders of the Company increased to Ps.1,825.5 million in second-quarter 2013 compared with Ps.1,396.3 million in second-quarter 2012.
Results by Business Segment
The following table presents second-quarter consolidated results for each of our business segments in millions of Mexican pesos:
Second-quarter sales increased 5.1% to Ps.8,241.7 million compared with Ps.7,845.4 million in second-quarter 2012.
Advertising revenue increased by 6.2% to Ps.5,911.4 million compared with Ps.5,566.9 million in second-quarter 2012, “reflecting the ongoing success of our content and also the strength of broadcast television as the advertising platform of choice,” a Televisa statement said.
Second-quarter Network Subscription Revenue increased by 9.5% to Ps.881.7 million compared with Ps.805.4 million in second-quarter 2012. The growth was driven mainly by the sustained addition of pay-TV subscribers, mostly in Mexico, according to Televisa’s release. Second-quarter Licensing and Syndication revenue decreased by 1.7% to Ps.1,448.6 million compared with Ps.1,473.1 million in second-quarter 2012. The decrease is explained mainly by a negative translation effect on foreign-currency-denominated sales. This effect was partially compensated by an increase of 9.9% in royalties from Univision, to US$70.5 million in second-quarter 2013 from US$64.2 million in second-quarter 2012.
Second-quarter operating segment income increased 7.6% to Ps.4,066.8 million compared with Ps.3,778.6 million in second-quarter 2012. The margin was 49.3%. The increase is explained by higher advertising and network subscription revenues.
Second-quarter sales decreased 9.7% to Ps.838.7 million compared with Ps.928.7 million in second-quarter 2012. The decrease is explained by lower circulation and advertising revenues in Mexico and the rest of the world and a negative translation effect on foreign-currency-denominated sales. Sales outside Mexico represented 61.9% of the segment compared with 63.2% in the same quarter of 2012.
Second-quarter operating segment income decreased 23.9% to Ps.118.1 million compared with Ps.155.2 million in second -quarter 2012, and the margin was 14.1%. This decrease reflects lower sales and higher marketing expenses.
Second-quarter sales increased by 12.8% to Ps.4,000.9 million compared with Ps.3,545.5 million in second-quarter 2012. The increase was driven by growth in the subscriber base in Mexico. The number of net active subscribers increased by 233,242 during the quarter to 5,646,254 as of June 30, 2013, compared with 4,550,695 as of June 30, 2012. Sky ended the quarter with 199,529 subscribers in Central America and the Dominican Republic.
Second-quarter operating segment income increased 12.8% to Ps.1,881.0 million compared with Ps.1,668.2 million in second-quarter 2012, and the margin was 47.0%.
Second-quarter sales increased 8.2% to Ps.4,188.4 million compared with Ps.3,871.7 million in second-quarter 2012. Revenues from Televisas three cable operations: Cablevisión, Cablemás and TVI experienced growth. Excluding Bestel, second-quarter sales in the aggregate for the three cable companies increased 10.8%. Data and voice revenue generating units, or RGUs, continue to be the main drivers of growth, growing 23.9% and 16.2% compared with second-quarter 2012, respectively, and video RGUs grew 7.7%.