directv latin america


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Publicis Groupe´s Latin America Executive Chairman Alejandro Cardoso is leaving the company after 17 years.






Ana Nobre has been promoted to new VP of Marketing LATAM at Teads. Prior to this promotion, she was Marketing Director at Teads Brazil.










Directv Latin America announced new appointments:


Nadine Pavlovsky has been named Chief Marketing and Strategy Officer while Maximiliano Kassai is the new Chief Operating Officer (C.O.O.) at DIRECTV LatAm.








Alexandre Alves de Souza has been named Banco do Brasil new Head of Marketing.







Kimberly-Clark appointed Leonardo Pignataro CFO – Finance Director – South Latin America.





Leyre Conesa is the new Head of Sales at Playground.







Michael Epstein, CEO Carat U.S is being promoted to CEO, Carat Global.Epstein will continue to be based in New York, but will work closely with the London-based Carat Global Leadership team.



Separately, Christine Removille will move to the new role of global president, media an performance transformation, continuing to report to Huijboom.






DIRECTV Announces Fourth Quarter and Full Year 2012 Results:

  • DIRECTV Adds 761,000 Net Additions in the Quarter Driven by DIRECTV Latin America’s All-Time Record of 658,000.
  • DIRECTV Latin America increases 2012 revenues by 23% to $6 billion and achieves 29.8% OPBDA margin.
  • For the year, DIRECTV Latin America sets record with 4.4 million gross additions and 2.4 million net additions while Sky Mexico adds 1.1 million net new subscribers.
  • DIRECTV Fourth Quarter Revenue and Operating Profit before Depreciation and Amortization (OPBDA) Growth of 8% Drive Full Year Revenue to Nearly $30 billion and OPBDA to over $7.5 billion.
  • DIRECTV Full Year Diluted Earnings per Share Rise 32% to $4.58 fueled in part by $5.2 billion of Repurchases in 2012; Free Cash Flow Increases 13% to $2.3 billion in the Year.
  • DIRECTV Authorizes New $4 billion Stock Repurchase Program.

Latin America

DIRECTV Latin America owns approximately 93% of Sky Brasil, 41% of Sky Mexico and 100% of PanAmericana, which covers
most of the remaining countries in the region. Sky Mexico, whose results are accounted for as an equity method investment and therefore are not consolidated by DTVLA, had approximately 5.15 million subscribers as of December 31, 2012, bringing the
total subscribers in the region to 15.48 million.


In the fourth quarter, DTVLA revenues increased 22% to $1.67 billion compared to 2011 principally due to strong subscriber
growth partially offset by an 8% decline in ARPU.

Net additions increased to a record 658,000 driven by higher gross additions partially offset by higher average monthly churn on the larger subscriber base. Gross additions increased 23% to a record of DIRECTV Latin America Three Months Ended

DTVLA ended the quarter with 10.33 million subscribers, an increase of 31% compared with 7.87 million subscribers reported for the year ended December 31, 2011.

DIRECTV Latin America’s fourth quarter 2012 OPBDA increased 17% to $494 million and operating profit increased 19% to $261 million compared with the same period last year.

OPBDA and operating profit margin declined in the quarter to 29.5% and 15.6%, respectively, primarily due to $18 million in charges related to certain litigation in Brazil and Argentina.


In 2012, DTVLA revenues increased 23% to $6.24 billion compared to the same period last year principally due to strong subscriber growth partially offset by an 8.6% decline in ARPU.

Net additions increased to a record 2.44 million driven by more gross additions partially offset by higher average monthly churn on the larger subscriber base. Gross additions increased 26% to a full year record of 4.42 million principally due to greater middle market demand across the region, most notably in Brazil, Argentina, Colombia and Venezuela.

Also in 2012, average monthly post-paid churn increased to 1.50% and total averagemonthly churn increased to 1.81% primarily driven by higher churn from middle market subscribers in Brazil. The decline in ARPU to $57.25 was principally due to unfavorable exchange rates mainly in Brazil and Argentina.

Excluding the impact of exchange rates, ARPU increased 1.7% in 2012 principally due to price increases and more subscribers with advanced services and upgrades, partially offset by the higher penetration of lower ARPU middle market subscribers.

DIRECTV Latin America’s 2012 OPBDA increased 12% to $1.86 billion and operating profit increased 4% to $955 million compared to the year ago period. OPBDA and operating profit margins declined to 29.8% and 15.3%, respectively, due in part to higher PanAmericana general and administrative and subscriber services costs mostly resulting from inflationary pressure on
labor expenses.

Also impacting PanAmericana margins were increased programming costs principally associated with the Olympics and certain soccer events, higher subscriber acquisition costs driven by record prepaid gross additions, as well as increased upgrade costs mainly associated with the replacement of first generation set-top boxes. In addition, Sky Brasil’s customer service expenses increased primarily reflecting higher costs related to serving a growing penetration of middle market customers.



DIRECTV reported increases in fourth quarter 2012 revenues of 8% to $8.05 billion, operating profit before depreciation and amortization1 (OPBDA) of 8% to $1.92 billion and operating profit of 7% to $1.30 billion compared to last year’s fourth quarter.

DIRECTV reported an increase in fourth quarter net income of 31% to $942 million and diluted earnings per share of 52.0% to $1.55 compared with the same period last year.


DIRECTV’s full year 2012 revenues increased 9% to $29.74 billion over last year principally due to subscriber growth over the
last year at DTVLA and DIRECTV U.S., as well as higher ARPU at DIRECTV U.S. DIRECTV’s OPBDA increased 8% to $7.52
billion and operating profit increased 10% to $5.09 billion in 2012.

OPBDA margin slightly declined in the period primarily due to increased DTVLA costs in customer service, general and administrative, and upgrade and retention.

Net income attributable to DIRECTV increased 13% to $2.95 billion and diluted earnings per share improved 32% to $4.58 for the period primarily due to the higher operating profit and a $59 million increase in earnings from the sale of equity investments.

In 2012, cash flow before interest and taxes increased 19% to $4.41 billion and free cash flow increased 13% to $2.29 billion
primarily due to the higher OPBDA as well as an increase in cash generated from working capital mostly related to the timing of
customer and vendor receipts at DIRECTV U.S.

These increases were partially offset by greater capital expenditures principally driven by increased satellite payments at both DIRECTV U.S. and DTVLA, and higher infrastructure investment at DTVLA (including $51 million towards the purchase of a building in Venezuela) partially offset by lower capital expenditures on leased equipment at DIRECTV U.S. primarily resulting from the lower gross additions.


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