During the first quarter of the year, Televisa’s sales reached 18,609.2 million pesos (mdp), an increase of 3.3% compared to the same period in 2021, driven by the increase in revenues in the Cable and Other Business segments, while profits from operating segments increased 3.4%.
In addition, the company’s net income reached 52,642.1 million pesos, a considerable growth when compared to the losses of 584.4 million pesos registered in 2021. This change reflected an increase of 54,110.0 million pesos in profit from discontinued operations, among other changes resulting from its integration with Univision, which concluded on January 31 to form TelevisaUnivision.
As part of the transaction, the company recognized during the period a preliminary consideration of US$3.22 billion in cash, US$750 million in TelevisaUnivision Class A common shares, US$750 million in TelevisaUnivision Series B preferred shares, with a cumulative annual dividend of 5.5%, in addition to an increase in its shareholding in the capital of TelevisaUnivision from approximately 36% to approximately 45% on a converted shares basis.
These increases were partially offset by an increase of 1,273.7 million pesos in financial expenses, an increase of 419.2 million pesos in depreciation and amortization, as well as an increase of 90.7 million pesos in other expenses.
Beginning in the first quarter of 2022, we begin presenting the results of our businesses disposed of as discontinued operations in our consolidated income statement for any prior period presented for comparative purposes and for the month ended January 31, 2022. company in its financial report sent to the Mexican Stock Exchange.
First-quarter sales and operating segment income in mass market operation increased 3.4% and 4.3%, respectively, although enterprise operations decreased 10.1% and 6.6%, respectively, due to a difficult basis of comparison and that in 2021 the “Red Jalisco” project was completed, developed for the Government of the State of Jalisco in which a fiber optic network owned by the State was built.
