Televisa made a tax payment during the fourth quarter of 2021, which impacted its operating cash flow (EBITDA). The company had a drop of 21.3% to 9,042.3 million pesos, from the 11,492 million pesos reported in the same period of the previous year.
“(This was due) to an accrued expense in connection with the combination with Univision of our Content business and other net assets in the first quarter of 2022; surcharges incurred as a result of payments made in 2021 by three companies in our Cable, Sky and Content segments for income taxes from previous years,” the company explained in its financial report.
According to President Andrés Manuel López Obrador, Televisa will pay 15 billion pesos in taxes for the merger between the company and Univisión to create its ViX platform, which will be available on March 31.
Televisa explained that by the first quarter of 2022, the merger may already have positive results and increase its income derived from the investment returns on preferred shares issued by TelevisaUnivision.
“In the first quarter of 2022, Televisa expects to increase its cash and cash equivalents in the amount of approximately 3,220 million dollars, as well as to increase its investment in common and preferred shares of TelevisaUnivision by an amount of 1,500 million dollars and to recognize a net income from the disposition of its previous Content business”, the company specified.
On the other hand, Televisa obtained an increase in its income of 6.3% percent compared to 97, 361 million pesos. This result is due to the fact that the company managed to pay more than 217.8 thousand subscribers, of which, in the telephony segment, they were 131.5 thousand; 58.3 thousand in its internet segment; and in cable 10.9 thousand, whose numeralia reversed the negative trend of the last five consecutive quarters of the company.
In addition, Televisa commented that its advertising segment increased 7.2% by generating 7,103 million pesos, thanks to the fact that the majority of our private sector clients seek to position their brands, products and services in front of consumers.
This increase also caused the company to go from a net loss of 1,250 million pesos in the last quarter of 2020 to a net profit of 5,386 million pesos.
The company commented that the financial crisis caused by the COVID-19 pandemic continues to have a negative effect on its business, financial position and results of operations, and it is currently difficult to predict the magnitude of the impact it will have in the future.
