UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2005
GRUPO TELEVISA, S.A.
-------------------------------------------------
(Translation of registrant's name into English)
Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico, D.F.
---------------------------------------------------------------------
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
------- -------
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.)
Yes No X
----- -----
If "Yes" is marked indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______.
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2005 AND 2004
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
----------------------- ---------------------------
S Amount % Amount %
-----------------------------------------------------------------------------------------------------------------------------
1 TOTAL ASSETS 61,352,188 100 61,657,016 100
2 CURRENT ASSETS 20,889,591 34 20,952,413 34
3 CASH AND SHORT-TERM INVESTMENTS 11,142,814 18 10,910,821 18
4 ACCOUNTS AND NOTES RECEIVABLE (NET) 4,053,314 7 3,833,718 6
5 OTHER ACCOUNTS AND NOTES RECEIVABLE (NET) 1,089,388 2 1,275,035 2
6 INVENTORIES 3,809,011 6 4,283,756 7
7 OTHER CURRENT ASSETS 795,064 1 649,083 1
8 LONG-TERM 6,596,614 11 7,122,253 12
9 ACCOUNTS AND NOTES RECEIVABLE (NET) 0 0 0 0
10 INVESTMENT IN SHARES OF NON-CONSOLIDATED
SUBSIDIARIES AND ASSOCIATES 6,414,795 10 6,839,193 11
11 OTHER INVESTMENTS 181,819 0 283,060 0
12 PROPERTY, PLANT AND EQUIPMENT (NET) 19,071,323 31 19,390,581 31
13 LAND AND BUILDINGS 13,166,984 21 13,226,409 21
14 MACHINERY AND INDUSTRIAL EQUIPMENT 19,542,455 32 15,463,195 25
15 OTHER EQUIPMENT 3,026,796 5 2,995,262 5
16 ACCUMULATED DEPRECIATION 17,060,728 28 13,054,956 21
17 CONSTRUCTION IN PROGRESS 395,816 1 760,671 1
18 DEFERRED ASSETS (NET) 10,575,207 17 9,488,607 15
19 OTHER ASSETS 4,219,453 7 4,703,162 8
20 TOTAL LIABILITIES 34,616,642 100 34,851,716 100
21 CURRENT LIABILITIES 5,544,282 16 6,994,836 20
22 SUPPLIERS 2,300,114 7 2,152,453 6
23 BANK LOANS 126,618 0 131,864 0
24 STOCK MARKET LOANS 57,517 0 2,359,195 7
25 TAXES PAYABLE 426,998 1 409,216 1
26 OTHER CURRENT LIABILITIES 2,633,035 8 1,942,108 6
27 LONG-TERM LIABILITIES 20,115,611 58 19,855,469 57
28 BANK LOANS 3,800,614 11 2,083,352 6
29 STOCK MARKET LOANS 14,658,502 42 15,605,114 45
30 OTHER LOANS 1,656,495 5 2,167,003 6
31 DEFERRED LIABILITIES 8,778,270 25 8,001,411 23
32 OTHER LIABILITIES 178,479 1 0 0
33 CONSOLIDATED STOCKHOLDERS' EQUITY 26,735,546 100 26,805,300 100
34 MINORITY INTEREST 211,131 1 (203,593) (1)
35 MAJORITY INTEREST 26,524,415 99 27,008,893 101
36 CONTRIBUTED CAPITAL 13,881,586 52 13,881,586 52
37 CAPITAL STOCK (NOMINAL) 2,524,174 9 2,524,174 9
38 RESTATEMENT OF CAPITAL STOCK 7,210,783 27 7,210,783 27
39 PREMIUM ON SALES OF SHARES 4,146,629 16 4,146,629 15
40 CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES 0 0 0 0
41 EARNED CAPITAL 12,642,829 47 13,127,307 49
42 RETAINED EARNINGS AND CAPITAL RESERVE 6,387,347 24 6,947,124 26
43 RESERVE FOR REPURCHASE OF SHARES 5,654,834 21 5,654,834 21
44 EXCESS (SHORTFALL) IN RESTATEMENT OF STOCK-
HOLDERS' EQUITY (2,951,490) (11) (1,996,560) (7)
45 NET INCOME FOR THE YEAR 3,552,138 13 2,521,909 9
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED BALANCE SHEETS
BREAKDOWN OF MAJOR CONCEPTS
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
------------------------ ----------------------
S Amount % Amount %
-----------------------------------------------------------------------------------------------------------------------------------
3 CASH AND SHORT-TERM INVESTMENTS 11,142,814 100 10,910,821 100
46 CASH 421,399 4 412,337 4
47 SHORT-TERM INVESTMENTS 10,721,415 96 10,498,484 96
18 DEFERRED ASSETS (NET) 10,575,207 100 9,488,607 100
48 DEFERRED EXPENSES (NET) 2,975,182 28 1,636,849 17
49 GOODWILL 7,600,025 72 7,851,758 83
50 DEFERRED TAXES 0 0 0 0
51 OTHER 0 0 0 0
21 CURRENT LIABILITIES 5,544,282 100 6,994,836 100
52 FOREIGN CURRENCY LIABILITIES 1,927,893 35 4,253,511 61
53 MEXICAN PESOS LIABILITIES 3,616,389 65 2,741,325 39
24 STOCK MARKET LOANS 57,517 100 2,359,195 100
54 COMMERCIAL PAPER 0 0 0 0
55 CURRENT MATURITIES OF MEDIUM-TERM NOTES 0 0 0 0
56 CURRENT MATURITIES OF BONDS 57,517 100 2,359,195 100
26 OTHER CURRENT LIABILITIES 2,633,035 100 1,942,108 100
57 OTHER CURRENT LIABILITIES WITH COST 74,429 3 72,737 4
58 OTHER CURRENT LIABILITIES WITHOUT COST 2,558,606 97 1,869,371 96
27 LONG-TERM LIABILITIES 20,115,611 100 19,855,469 100
59 FOREIGN CURRENCY LIABILITIES 15,335,970 76 13,778,350 69
60 MEXICAN PESOS LIABILITIES 4,779,641 24 6,077,119 31
29 STOCK MARKET LOANS 14,658,502 100 15,605,114 100
61 BONDS 14,658,502 100 15,605,114 100
62 MEDIUM-TERM NOTES 0 0 0 0
30 OTHER LOANS 1,656,495 100 2,167,003 100
63 OTHER LOANS WITH COST 1,222,379 74 1,421,005 66
64 OTHER LOANS WITHOUT COST 434,116 26 745,998 34
31 DEFERRED LIABILITIES 8,778,270 100 8,001,411 100
65 NEGATIVE GOODWILL 0 0 0 0
66 DEFERRED TAXES 1,489,876 17 1,227,860 15
67 OTHER 7,288,394 83 6,773,551 85
32 OTHER LIABILITIES 178,479 100 0 100
68 RESERVES 178,479 100 0 0
69 OTHER LIABILITIES 0 0 0 0
44 EXCESS (SHORTFALL) IN RESTATEMENT OF STOCK- (2,951,490) 100 (1,996,560) 100
HOLDERS' EQUITY
70 ACCUMULATED MONETARY RESULT (32,082) (1) (32,082) (2)
71 RESULT FROM HOLDING NON-MONETARY ASSETS (2,919,408) (99) (1,964,478) (98)
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONCEPTS
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
------------------------- ------------------------
S Amount Amount
-------------------------------------------------------------------------------------------------------------------------------
72 WORKING CAPITAL 15,345,309 13,957,577
73 PENSIONS AND SENIORITY PREMIUMS 1,296,647 1,092,547
74 EXECUTIVES (*) 34 35
75 EMPLOYEES (*) 14,852 14,000
76 WORKERS (*) 0 0
77 OUTSTANDING SHARES (*) 340,439,748,870 341,815,028,451
78 REPURCHASED SHARES (*) 28,833,621,531 27,458,341,950
(*) THESE CONCEPTS ARE STATED IN UNITS
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED STATEMENTS OF INCOME
FROM JANUARY 1 THROUGH SEPTEMBER 30, 2005 AND 2004
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
------------------------ -----------------------
R Amount % Amount %
-------------------------------------------------------------------------------------------------------------------------------
1 NET SALES 22,472,485 100 21,259,286 100
2 COST OF SALES 11,790,816 52 12,247,326 58
3 GROSS PROFIT 10,681,669 48 9,011,960 42
4 OPERATING EXPENSES 3,489,635 16 3,196,985 15
5 OPERATING INCOME 7,192,034 32 5,814,975 27
6 INTEGRAL FINANCING COST 1,441,017 6 1,081,250 5
7 INCOME AFTER INTEGRAL FINANCING COST 5,751,017 26 4,733,725 22
8 OTHER FINANCIAL OPERATIONS 566,888 3 863,510 4
9 INCOME BEFORE TAXES AND EMPLOYEES' PROFIT
SHARING 5,184,129 23 3,870,215 18
10 PROVISION FOR TAXES AND EMPLOYEES' PROFIT
SHARING 1,196,945 5 817,945 4
11 NET INCOME AFTER TAXES AND EMPLOYEES' PROFIT
SHARING 3,987,184 18 3,052,270 14
12 SHARE IN NET INCOME OF NON-CONSOLIDATED
SUBSIDIARIES AND ASSOCIATES 174,492 1 573,321 3
13 CONSOLIDATED NET INCOME OF CONTINUING
OPERATIONS 4,161,676 19 3,625,591 17
14 INCOME FROM DISCONTINUED OPERATIONS 0 0 0 0
15 CONSOLIDATED NET INCOME BEFORE
EXTRAORDINARY ITEMS 4,161,676 19 3,625,591 17
16 EXTRAORDINARY ITEMS, NET EXPENSE (INCOME) 0 0 0 0
17 CUMULATIVE EFFECT FROM ACCOUNTING CHANGE, NET 179,533 1 1,044,378 5
18 NET CONSOLIDATED INCOME 3,982,143 18 2,581,213 12
19 NET INCOME OF MINORITY INTEREST 430,005 2 59,304 0
20 NET INCOME OF MAJORITY INTEREST 3,552,138 16 2,521,909 12
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED STATEMENTS OF INCOME
BREAKDOWN OF MAIN CONCEPTS
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
---------------------- ------------------------
R Amount % Amount %
-----------------------------------------------------------------------------------------------------------------------------
1 NET SALES 22,472,485 100 21,259,286 100
21 DOMESTIC 19,784,761 88 17,637,117 83
22 FOREIGN 2,687,724 12 3,622,169 17
23 TRANSLATED INTO DOLLARS (***) 249,672 1 307,068 1
6 INTEGRAL FINANCING COST 1,441,017 100 1,081,250 100
24 INTEREST EXPENSE 1,556,249 108 1,318,128 122
25 FOREIGN EXCHANGE LOSS 581,721 40 20,728 2
26 INTEREST INCOME 727,870 51 479,766 44
27 FOREIGN EXCHANGE GAIN 0 0 0 0
28 RESULT FROM MONETARY POSITION 12,639 1 109,860 10
42 LOSS ON RESTATEMENT OF UDI'S 18,278 1 112,300 10
43 GAIN ON RESTATEMENT OF UDI'S 0 0 0 0
8 OTHER FINANCIAL OPERATIONS 566,888 100 863,510 100
29 OTHER EXPENSE (INCOME) NET 566,888 100 863,510 100
30 (GAIN) LOSS ON SALE OF OWN SHARES 0 0 0 0
31 (GAIN) LOSS ON SALE OF SHORT-TERM INVESTMENTS 0 0 0 0
10 PROVISION FOR TAXES AND EMPLOYEES' PROFIT SHARING 1,196,945 100 817,945 100
32 INCOME TAX 1,032,342 86 412,599 50
33 DEFERRED INCOME TAX 160,008 13 401,119 49
34 EMPLOYEES' PROFIT SHARING 4,595 0 4,227 1
35 DEFERRED EMPLOYEES' PROFIT SHARING 0 0 0 0
(***) THOUSANDS OF DOLLARS
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED STATEMENTS OF INCOME
OTHER CONCEPTS
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
R Amount Amount
-------------------------------------------------------------------------------------------------------------------------
36 TOTAL SALES 24,296,243 22,637,477
37 TAX RESULT FOR THE YEAR 1,684,005 0
38 NET SALES (**) 31,031,159 28,775,854
39 OPERATING INCOME (**) 10,081,944 7,919,401
40 NET INCOME OF MAJORITY INTEREST (**) 5,421,147 3,908,539
41 NET CONSOLIDATED INCOME (**) 6,027,581 3,843,331
(**) RESTATED INFORMATION FOR THE LAST TWELVE MONTHS
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FROM JULY 1 THROUGH SEPTEMBER 30, 2005 AND 2004
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
-------------------- ---------------------
R Amount % Amount %
---------------------------------------------------------------------------------------------------------------------------------
1 NET SALES 8,115,974 100 7,898,106 100
2 COST OF SALES 4,099,499 51 4,494,814 57
3 GROSS PROFIT 4,016,475 49 3,403,292 43
4 OPERATING EXPENSES 1,207,686 15 1,149,362 15
5 OPERATING INCOME 2,808,789 35 2,253,930 29
6 INTEGRAL FINANCING COST 456,390 6 535,715 7
7 INCOME AFTER INTEGRAL FINANCING COST 2,352,399 29 1,718,215 22
8 OTHER FINANCIAL OPERATIONS 113,068 1 366,503 5
9 INCOME BEFORE TAXES AND EMPLOYEES' PROFIT
SHARING 2,239,331 28 1,351,712 17
10 PROVISION FOR TAXES AND EMPLOYEES' PROFIT
SHARING 428,543 5 162,504 2
11 NET INCOME AFTER TAXES AND EMPLOYEES' PROFIT
SHARING 1,810,788 22 1,189,208 15
12 SHARE IN NET INCOME OF NON-CONSOLIDATED
SUBSIDIARIES AND ASSOCIATES 17,706 0 417,468 5
13 CONSOLIDATED NET INCOME OF CONTINUING
OPERATIONS 1,828,494 23 1,606,676 20
14 INCOME FROM DISCONTINUED OPERATIONS 0 0 0 0
15 CONSOLIDATED NET INCOME BEFORE
EXTRAORDINARY ITEMS 1,828,494 23 1,606,676 20
16 EXTRAORDINARY ITEMS, NET EXPENSE (INCOME) 0 0 0 0
17 CUMULATIVE EFFECT FROM ACCOUNTING CHANGE, NET 0 0 0 0
18 NET CONSOLIDATED INCOME 1,828,494 23 1,606,676 20
19 NET INCOME OF MINORITY INTEREST 164,617 2 68,006 1
20 NET INCOME OF MAJORITY INTEREST 1,663,877 21 1,538,670 19
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
BREAKDOWN OF MAIN CONCEPTS
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
------------------- -----------------------
R Amount % Amount %
------------------------------------------------------------------------------------------------------------------------------
1 NET SALES 8,115,974 100 7,898,106 100
21 DOMESTIC 7,176,535 88 6,703,934 85
22 FOREIGN 939,439 12 1,194,172 15
23 TRANSLATED INTO DOLLARS (***) 88,394 1 107,179 1
6 INTEGRAL FINANCING COST 456,390 100 535,715 100
24 INTEREST EXPENSE 468,724 103 544,844 102
25 FOREIGN EXCHANGE LOSS 178,180 39 88,286 16
26 INTEREST INCOME 166,830 37 142,742 27
27 FOREIGN EXCHANGE GAIN 0 0 0 0
28 RESULT FROM MONETARY POSITION (29,498) (6) (30,928) (6)
42 LOSS ON RESTATEMENT OF UDI'S 5,814 1 76,255 14
43 GAIN ON RESTATEMENT OF UDI'S 0 0 0 0
8 OTHER FINANCIAL OPERATIONS 113,068 100 366,503 100
29 OTHER EXPENSE (INCOME) NET 113,068 100 366,503 100
30 (GAIN) LOSS ON SALE OF OWN SHARES 0 0 0 0
31 (GAIN) LOSS ON SALE OF SHORT-TERM INVESTMENTS 0 0 0 0
10 PROVISION FOR TAXES AND EMPLOYEES' PROFIT SHARING 428,543 100 162,504 100
32 INCOME TAX 240,985 56 (227,864) (140)
33 DEFERRED INCOME TAX 186,262 43 389,052 239
34 EMPLOYEES' PROFIT SHARING 1,296 0 1,316 1
35 DEFERRED EMPLOYEES' PROFIT SHARING 0 0 0 0
(***) THOUSANDS OF DOLLARS
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED STATEMENTS OF CHANGES IN FINANCIAL POSITION
FROM JANUARY 1 THROUGH SEPTEMBER 30, 2005 AND 2004
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
------------ --------------
C Amount Amount
-------------------------------------------------------------------------------------------------------------------------
1 CONSOLIDATED NET INCOME 3,982,143 2,581,213
2 + (-) ITEMS ADDED TO INCOME WHICH DO NOT
REQUIRE USING RESOURCES 2,126,051 2,798,524
3 RESOURCES FROM NET INCOME FOR THE YEAR 6,108,194 5,379,737
4 RESOURCES FROM CHANGE IN WORKING CAPITAL (910,676) (1,992,778)
5 RESOURCES PROVIDED BY (USED FOR) OPERATING
ACTIVITIES 5,197,518 3,386,959
6 CASH FLOW FROM EXTERNAL FINANCING (4,017,625) 1,177,014
7 CASH FLOW FROM INTERNAL FINANCING (4,883,246) (4,082,546)
8 RESOURCES PROVIDED BY (USED FOR) FINANCING
ACTIVITIES (8,900,871) (2,905,532)
9 RESOURCES PROVIDED BY (USED FOR) INVESTMENT
ACTIVITIES (2,081,122) (3,167,667)
10 NET INCREASE (DECREASE) IN CASH AND SHORT-TERM
INVESTMENTS (5,784,475) (2,686,240)
11 CASH AND SHORT-TERM INVESTMENTS AT THE
BEGINNING OF PERIOD 16,927,289 13,597,061
12 CASH AND SHORT-TERM INVESTMENTS AT THE END
OF PERIOD 11,142,814 10,910,821
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED STATEMENTS OF CHANGES IN FINANCIAL POSITION
BREAKDOWN OF MAIN CONCEPTS
(Thousands of Mexican Pesos)
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
----------------- -------------------
C Amount Amount
-----------------------------------------------------------------------------------------------------------------------------
2 + (-) ITEMS ADDED TO INCOME WHICH DO NOT
REQUIRE USING RESOURCES 2,126,051 2,798,524
13 DEPRECIATION AND AMORTIZATION FOR THE YEAR 1,720,215 1,547,079
14 + (-) NET INCREASE (DECREASE) IN PENSIONS
AND SENIORITY PREMIUMS 0 0
15 + (-) NET LOSS (GAIN) IN FOREIGN EXCHANGE 0 0
16 + (-) NET LOSS (GAIN) IN ASSETS AND LIABILITIES
RESTATEMENT 0 0
17 + (-) OTHER ITEMS 0 0
40 + (-) OTHER NON-EBITDA ITEMS 405,836 1,251,445
4 RESOURCES FROM CHANGE IN WORKING CAPITAL (910,676) (1,992,778)
18 + (-) DECREASE (INCREASE) IN ACCOUNTS RECEIVABLE 7,369,630 7,659,548
19 + (-) DECREASE (INCREASE) IN INVENTORIES 797,629 565,624
20 + (-) DECREASE (INCREASE) IN OTHER ACCOUNTS
RECEIVABLE (7,670) (239,229)
21 + (-) INCREASE (DECREASE) IN SUPPLIERS 128,174 (565,500)
22 + (-) INCREASE (DECREASE) IN OTHER LIABILITIES (9,198,439) (9,413,221)
6 CASH FLOW FROM EXTERNAL FINANCING (4,017,625) 1,177,014
23 + SHORT-TERM BANK AND STOCK MARKET FINANCING 0 0
24 + LONG-TERM BANK AND STOCK MARKET FINANCING 6,459,000 1,203,260
25 + DIVIDEND RECEIVED 0 0
26 + OTHER FINANCING 0 1,351,982
27 (-) BANK FINANCING AMORTIZATION (1,170,348) (1,378,228)
28 (-) STOCK MARKET FINANCING AMORTIZATION (8,653,839) 0
29 (-) OTHER FINANCING AMORTIZATION (652,438) 0
7 CASH FLOW FROM INTERNAL FINANCING (4,883,246) (4,082,546)
30 + (-) INCREASE (DECREASE) IN CAPITAL STOCK 0 0
31 (-) DIVIDENDS PAID (4,238,517) (4,049,790)
32 + PREMIUM ON SALE OF SHARES 0 0
33 + CONTRIBUTION FOR FUTURE CAPITAL INCREASES (644,729) (32,756)
9 RESOURCES PROVIDED BY (USED FOR) INVESTMENT
ACTIVITIES (2,081,122) (3,167,667)
34 + (-) DECREASE (INCREASE) IN PERMANENT INVESTMENTS 79,463 (1,774,889)
35 (-) ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT (1,565,334) (1,302,665)
36 (-) INCREASE IN CONSTRUCTION IN PROGRESS 0 0
37 + SALE OF OTHER PERMANENT INVESTMENTS 0 0
38 + SALE OF TANGIBLE FIXED ASSETS 230,981 137,481
39 + (-) OTHER ITEMS (826,232) (227,594)
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
RATIOS
CONSOLIDATED
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
P
---------------------------------------------------------------------------------------------------------------------------------
YIELD
1 NET INCOME TO NET SALES 17.72 % 12.14 %
2 NET INCOME TO STOCKHOLDERS' EQUITY (**) 20.44 % 14.47 %
3 NET INCOME TO TOTAL ASSETS (**) 9.82 % 6.23 %
4 CASH DIVIDENDS TO PREVIOUS YEAR NET INCOME 96.53 % 0.00 %
5 RESULT FROM MONETARY POSITION TO NET INCOME (0.32) % (4.26) %
ACTIVITY
6 NET SALES TO NET ASSETS (**) 0.51 times 0.47 times
7 NET SALES TO FIXED ASSETS (**) 1.63 times 1.48 times
8 INVENTORIES TURNOVER (**) 4.27 times 3.89 times
9 ACCOUNTS RECEIVABLE IN DAYS OF SALES 42 days 42 days
10 PAID INTEREST TO TOTAL LIABILITIES WITH COST (**) 11.01 % 7.66 %
LEVERAGE
11 TOTAL LIABILITIES TO TOTAL ASSETS 56.42 % 56.53 %
12 TOTAL LIABILITIES TO STOCKHOLDERS' EQUITY 1.29 times 1.30 times
13 FOREIGN CURRENCY LIABILITIES TO TOTAL LIABILITIES 49.87 % 51.74 %
14 LONG-TERM LIABILITIES TO FIXED ASSETS 105.48 % 102.40 %
15 OPERATING INCOME TO INTEREST PAID 4.62 times 4.41 times
16 NET SALES TO TOTAL LIABILITIES (**) 0.90 times 0.83 times
LIQUIDITY
17 CURRENT ASSETS TO CURRENT LIABILITIES 3.77 times 3.00 times
18 CURRENT ASSETS LESS INVENTORY TO CURRENT
LIABILITIES 3.08 times 2.38 times
19 CURRENT ASSETS TO TOTAL LIABILITIES 0.60 times 0.60 times
20 AVAILABLE ASSETS TO CURRENT LIABILITIES 200.98 % 155.98 %
CASH FLOW
21 RESOURCES FROM NET INCOME TO NET SALES 27.18 % 25.31 %
22 RESOURCES FROM CHANGES IN WORKING CAPITAL
TO NET SALES (4.05) % (9.37) %
23 RESOURCES GENERATED (USED) IN OPERATING TO
INTEREST PAID 3.34 times 2.57 times
24 EXTERNAL FINANCING TO RESOURCES PROVIDED BY
(USED FOR) FINANCING 45.14 % (40.51) %
25 INTERNAL FINANCING TO RESOURCES PROVIDED BY
(USED FOR) FINANCING 54.86 % 140.51 %
26 ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT
TO RESOURCES PROVIDED BY (USED FOR) INVESTMENT
ACTIVITIES 75.22 % 41.12 %
(**) RATIOS TAKE INTO CONSIDERATION THE LAST TWELVE MONTHS.
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
DATA PER SHARE
CONSOLIDATED FINANCIAL STATEMENT
Final Printing
REF
CONCEPTS CURRENT YEAR PREVIOUS YEAR
-------------------- ----------------------
D Amount Amount
------------------------------------------------------------------------------------------------------------------------
1 BASIC PROFIT PER ORDINARY SHARE (**) $ .02 $ .01
2 BASIC PROFIT PER PREFERRED SHARE (**) $ .00 $ .00
3 DILUTED PROFIT PER ORDINARY SHARE (**) $ .00 $ .00
4 CONTINUING OPERATING PROFIT PER COMMON
SHARE (**) $ .02 $ .02
5 EFFECT OF DISCONTINUED OPERATION ON
CONTINUING OPERATING PROFIT PER SHARE (**) $ .00 $ .00
6 EFFECT OF EXTRAORDINARY PROFIT AND LOSS ON
CONTINUING OPERATING PROFIT PER SHARE (**) $ .00 $ .00
7 EFFECT OF CHANGES IN ACCOUNTING POLICIES ON
CONTINUING OPERATING PROFIT PER SHARE (**) $ .00 $ .00
8 CARRYING VALUE PER SHARE $ .08 $ .08
9 CASH DIVIDEND ACCUMULATED PER SHARE $ .01 $ .41
10 DIVIDEND IN SHARES PER SHARE .00 shares .10 shares
11 MARKET PRICE TO CARRYING VALUE 4.23 times 3.24 times
12 MARKET PRICE TO BASIC PROFIT PER ORDINARY
SHARE (**) 20.82 times 19.29 times
13 MARKET PRICE TO BASIC PROFIT PER PREFERED
SHARE (**) .00 times .00 times
(**) TO CALCULATE THE DATA PER SHARE USE THE NET INCOME FOR THE LAST TWELVE MONTHS.
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
FINANCIAL STATEMENT NOTES (1)
CONSOLIDATED
Final Printing
CONSOLIDATED FINANCIAL STATEMENTS - BREAKDOWN OF MAIN CONCEPTS -
LINE S53 MEXICAN PESOS LIABILITIES. THIS CAPTION INCLUDES, IN THE
THIRD QUARTER OF 2005, LIABILITIES IN FOREIGN CURRENCY (TAXES PAYABLE)
FOR AN AMOUNT OF PS.29,324, WHICH CANNOT BE PRESENTED IN LINE S52
(FOREIGN CURRENCY LIABILITIES) SINCE THE SYSTEM DOES NOT ALLOW A
RELATED VALIDATION WITH ANNEX 5 (ANALYSIS OF CREDITS).
CONSOLIDATED STATEMENTS OF INCOME
CONSOLIDATED STATEMENTS OF INCOME FOR THE THREE AND NINE MONTHS ENDED
SEPTEMBER 30, 2004, HAVE BEEN RESTATED FROM THOSE PREVIOUSLY REPORTED
IN CONNECTION WITH CERTAIN ADJUSTMENTS RECOGNIZED AS OF THAT DATE AND
RESULTED FROM SUBSEQUENT EVENTS. THESE ADJUSTMENTS INCREASED
NON-RECURRING CHARGES AND DECREASED INCOME TAXES FOR A PS.50.7 MILLION
NET INCREASE IN OUR CONSOLIDATED NET INCOME FOR THE THREE AND NINE
MONTHS ENDED SEPTEMBER 30, 2004.
STATEMENT OF CHANGES - ANALYSIS OF MAJOR CONCEPTS
LINE C33 "CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES" INCLUDES
PS.298,131 OF RESALE OF SHARES REPURCHASED, AND PS.(942,860) OF
REPURCHASE OF SHARES.
THIS PRESENTATION WAS MADE AS DISCLOSED ABOVE DUE TO THE FACT THAT THE
CURRENT FORMAT FOR THE STATEMENT OF CHANGES IN FINANCIAL POSITION IS
RESTRICTED TO CERTAIN STANDARD CONCEPTS.
-----------------------------------------------------------------------------
10/24/2005 23:46
(1 ) THE REPORT CONTAINS THE NOTES CORRESPONDING TO THE FINANCIAL
STATEMENT AMOUNTS, INCLUDING THEIR BREAKDOWN OF MAIN CONCEPTS AND
OTHER CONCEPTS.
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONSOLIDATED
Final Printing
ANALYSIS OF PAID CAPITAL STOCK
CHARACTERISTICS OF THE SHARES
AUDITED INFORMATION
CAPITAL STOCK
NUMBER OF SHARES (Thousands of Mexican Pesos)
------------------------------------------------------------------- ------------------------------
NOMINAL VALID FIXED VARIABLE FREE
SERIES VALUE COUPON PORTION PORTION MEXICAN SUBSCRIPTION FIXED VARIABLE
-----------------------------------------------------------------------------------------------------------------------------------
A 0 114,352,437,915 114,352,437,915 852,636
B 0 54,064,384,813 54,064,384,813 411,974
D 0 86,011,463,071 86,011,463,071 629,782
L 0 86,011,463,071 86,011,463,071 629,782
TOTAL 340,439,748,870 0 254,428,285,799 86,011,463,071 2,524,174 0
TOTAL NUMBER OF SHARES REPRESENTING THE PAID-IN CAPITAL STOCK ON THE DATE THE
INFORMATION WAS SENT
340,439,748,870
SHARES REPRESENTED BY:
CPOs: 117 SHARES (25 SERIES A, 22 SERIES B, 35 SERIES D AND 35 SERIES L)
UNITS: 0
ADRSs: 0
GDRSs: 0
ADSs: 0
GDSs: TWENTY CPOs
SHARES REPURCHASED
MARKET VALUE OF THE SHARE
NUMBER OF AT REPURCHASE AT END OF THE
SERIES SHARES AVERAGE PRICE QUARTER PRICE
------------------------------------------------------------------------------
A 10,383,806,260 0.19590 4.58070
B 6,205,297,983 0.19590 4.58070
D 6,122,258,644 0.19590 4.58070
L 6,122,258,644 0.19590 4.58070
NOTES:
THE TABLE ABOVE REFLECTS OUTSTANDING SHARES PLUS THE SHARES
REPURCHASED REPRESENT THE TOTAL NUMBER OF SHARES ISSUED. SEE NOTE 5 TO
CONSOLIDATED FINANCIAL STATEMENTS.
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA
GRUPO TELEVISA, S.A.
DECLARATION OF THE REGISTRANT'S OFFICERS, RESPONSIBLE FOR THE INFORMATION.
WE HEREBY DECLARE THAT, TO THE EXTENT OF OUR FUNCTIONS, WE PREPARED
THE INFORMATION RELATED TO THE REGISTRANT CONTAINED IN THIS QUARTERLY
REPORT, AND BASED ON OUR KNOWLEDGE, THIS INFORMATION FAIRLY PRESENTS
THE REGISTRANT'S CONDITION. WE ALSO DECLARE THAT WE ARE NOT AWARE OF
ANY RELEVANT INFORMATION WHICH HAS BEEN OMITTED OR UNTRUE IN THIS
QUARTERLY REPORT, OR INFORMATION CONTAINED IN SUCH REPORT THAT MAY BE
MISLEADING TO INVESTORS.
-------------------------------- --------------------------------
EMILIO AZCARRAGA JEAN SALVI FOLCH VIADERO
PRESIDENT AND CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER
OFFICER
MEXICO, D.F., OCTOBER 24, 2005
MEXICAN STOCK EXCHANGE ("BMV")
STOCK EXCHANGE CODE: TLEVISA DATE: 10/24/2005
GRUPO TELEVISA, S.A.
GENERAL DATA OF ISSUER
===============================================================================
COMPANY'S NAME: GRUPO TELEVISA, S.A.
ADDRESS: AV. VASCO DE QUIROGA # 2000
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-20-00
FAX: 5261-24-94
INTERNET ADDRESS: www.televisa.com.mx
TAX DATA OF THE ISSUER
------------------------------------------------------------------------------
COMPANY TAX CODE: GTE901219GK3
ADDRESS: AV. VASCO DE QUIROGA # 2000
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
RESPONSIBLE FOR PAYMENT
-------------------------------------------------------------------------------
NAME: C.P.C. JOSE RAUL GONZALEZ LIMA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 1
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-77
FAX: 5261-20-43
E-MAIL: rglima@televisa.com.mx
EXECUTIVES' DATA
------------------------------------------------------------------------------
BMV POSITION: CHAIRMAN OF THE BOARD
POSITION: CHAIRMAN OF THE BOARD
NAME: SR. EMILIO FERNANDO AZCARRAGA JEAN
ADDRESS: AV. CHAPULTEPEC # 28 PISO 1
NEIGHBORHOOD: DOCTORES
ZIP CODE: 06724
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5709-42-89
FAX: 5709-39-88
E-MAIL: emilio@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: GENERAL DIRECTOR
POSITION: PRESIDENT AND CHIEF EXECUTIVE OFFICER
NAME: SR. EMILIO FERNANDO AZCARRAGA JEAN
ADDRESS: AV. CHAPULTEPEC # 28 PISO 1
NEIGHBORHOOD: DOCTORES
ZIP CODE: 06724
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5709-42-89
FAX: 5709-39-88
E-MAIL: emilio@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: FINANCE DIRECTOR
POSITION: CHIEF FINANCIAL OFFICER
NAME: LIC. SALVI FOLCH VIADERO
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-80
FAX: 5261-20-39
E-MAIL: sfolch@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR SENDING CORPORATE INFORMATION
THROUGH EMISNET
POSITION: DIRECTOR OF CORPORATE FINANCIAL INFORMATION
NAME: C.P.C. JOSE RAUL GONZALEZ LIMA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 1
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-77
FAX: 5261-20-43
E-MAIL: rglima@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR SENDING SHARE REPURCHASE
INFORMATION THROUGH EMISNET
POSITION: VICE PRESIDENT OF CORPORATE FINANCE
NAME: LIC. ALEXANDRE MOREIRA PENNA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 3
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-24-58
FAX: 5261-25-24
E-MAIL: apenna@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR LEGAL MATTERS
POSITION: VICE PRESIDENT - LEGAL AND GENERAL COUNSEL
OF GRUPO TELEVISA
NAME: LIC. JUAN SEBASTIAN MIJARES ORTEGA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-85
FAX: 5261-25-46
E-MAIL: jmijares@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: SECRETARY OF THE BOARD OF DIRECTORS
POSITION: EXTERNAL GENERAL COUNSEL
NAME: LIC. RICARDO MALDONADO YANEZ
ADDRESS: MONTES URALES # 505, PISO 3
NEIGHBORHOOD: LOMAS DE CHAPULTEPEC
ZIP CODE: 11000
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5201-74-47
FAX: 5520-10-65
E-MAIL: rmaldonado@macf.com.mx
------------------------------------------------------------------------------
BMV POSITION: PROSECRETARY OF THE BOARD OF DIRECTORS
POSITION: COUNSEL OF THE PRESIDENT
NAME: LIC. JULIO BARBA HURTADO
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 2
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-24-23
FAX:
E-MAIL: jbarbah@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE OF INFORMATION TO INVESTORS
POSITION: DIRECTOR OF INVESTOR RELATIONS
NAME: LIC. MICHEL BOYANCE BALDWIN
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-24-46
FAX: 5261-24-94
E-MAIL: mboyance@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR SENDING INFORMATION THROUGH
EMISNET
POSITION: SECRETARY OF THE BOARD OF DIRECTORS
NAME: LIC. JUAN SEBASTIAN MIJARES ORTEGA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-85
FAX: 5261-25-46
E-MAIL: jmijares@televisa.com.mx
------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR SENDING RELEVANT EVENTS THROUGH
EMISNET
POSITION: DIRECTOR OF INVESTOR RELATIONS
NAME: LIC. MICHEL BOYANCE BALDWIN
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: 01210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-24-46
FAX: 5261-24-94
E-MAIL: mboyance@televisa.com.mx
MEXICAN STOCK EXCHANGE ("BMV")
STOCK EXCHANGE CODE: TLEVISA DATE: 10/24/2005
GRUPO TELEVISA, S.A.
BOARD OF DIRECTORS
==============================================================================
POSITION : PRESIDENT(S)
NAME : EMILIO FERNANDO AZCARRAGA JEAN
------------------------------------------------------------------------------
POSITION : VICE PRESIDENT(S)
NAME : MARIA ASUNCION ARAMBURUZABALA LARREGUI
------------------------------------------------------------------------------
POSITION : DIRECTOR(S)
NAME : PEDRO ASPE ARMELLA
NAME : ALBERTO BAILLERES GONZALEZ
NAME : JULIO BARBA HURTADO
NAME : JOSE ANTONIO BASTON PATINO
NAME : MANUEL JORGE CUTILLAS COVANI
NAME : ALFONSO DE ANGOITIA NORIEGA
NAME : CARLOS FERNANDEZ GONZALEZ
NAME : BERNARDO GOMEZ MARTINEZ
NAME : CLAUDIO X. GONZALEZ LAPORTE
NAME : ROBERTO HERNANDEZ RAMIREZ
NAME : ENRIQUE KRAUZE KLEINBORT
NAME : GERMAN LARREA MOTA VELAZCO
NAME : GILBERTO PEREZALONSO CIFUENTES
NAME : ALEJANDRO QUINTERO INIGUEZ
NAME : FERNANDO SENDEROS MESTRE
NAME : ENRIQUE FRANCISCO J. SENIOR HERNANDEZ
NAME : CARLOS SLIM DOMIT
NAME : LORENZO H. ZAMBRANO TREVINO
------------------------------------------------------------------------------
POSITION : ALTERNATE DIRECTOR(S)
NAME : HERBERT ALLEN III
NAME : JUAN PABLO ANDRADE FRICH
NAME : LUCRECIA ARAMBURUZABALA LARREGUI
NAME : FELIX ARAUJO RAMIREZ
NAME : MAXIMILIANO ARTEAGA CARLEBACH
NAME : JOAQUIN BALCARCEL SANTA CRUZ
NAME : JUAN FERNANDO CALVILLO ARMENDARIZ
NAME : RAFAEL CARABIAS PRINCIPE
NAME : FRANCISCO JOSE CHEVEZ ROBELO
NAME : JOSE LUIS FERNANDEZ FERNANDEZ
NAME : SALVI FOLCH VIADERO
NAME : LEOPOLDO GOMEZ GONZALEZ BLANCO
NAME : JOSE HEREDIA BRETON
NAME : JOSE ANTONIO LARA DEL OLMO
NAME : JORGE LUTTEROTH ECHEGOYEN
NAME : JUAN SEBASTIAN MIJARES ORTEGA
NAME : ALBERTO MONTIEL CASTELLANOS
NAME : RAUL MORALES MEDRANO
NAME : ALEXANDRE MOREIRA PENNA DA SILVA
NAME : GUILLERMO NAVA GOMEZ-TAGLE
------------------------------------------------------------------------------
POSITION : STATUTORY AUDITOR(S)
NAME : MARIO SALAZAR ERDMANN
------------------------------------------------------------------------------
POSITION : ALTERNATE STATUTORY AUDITOR(S)
NAME : JOSE MIGUEL ARRIETA MENDEZ
------------------------------------------------------------------------------
POSITION : SECRETARY(IES) OF THE BOARD
NAME : RICARDO MALDONADO YANEZ
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ANNEX 1
CONSOLIDATED
FINAL PRINTING
------------------------------------------------------------------------------
MEXICO CITY, D.F., OCTOBER 24, 2005--GRUPO TELEVISA, S.A. (NYSE:TV; BMV:
TLEVISA CPO) TODAY ANNOUNCED RESULTS FOR THIRD QUARTER 2005. THE RESULTS
HAVE BEEN PREPARED IN ACCORDANCE WITH MEXICAN GAAP AND ARE ADJUSTED IN
MILLIONS OF MEXICAN PESOS IN PURCHASING POWER AS OF SEPTEMBER 30, 2005.
DURING THE FOURTH QUARTER OF 2004, WE AMENDED CERTAIN AGREEMENTS IN OUR
PUBLISHING DISTRIBUTION SEGMENT. THESE AMENDMENTS RESULTED IN A CHANGE IN
THE ACCOUNTING TREATMENT OF THE RECOGNITION OF SALES AND COST OF GOODS
SOLD. THIS CHANGE DOES NOT AFFECT OUR OIBDA RESULTS.
NET SALES
PRO-FORMA NET SALES INCREASED 8.8% TO PS.8,116 MILLION IN THIRD QUARTER
2005 COMPARED WITH PS.7,460.4 MILLION IN THE THIRD QUARTER OF LAST YEAR.
THIS INCREASE WAS ATTRIBUTABLE TO REVENUE GROWTH IN ALL OF OUR BUSINESS
SEGMENTS, EXCEPT FOR OUR FEATURE FILM PRODUCTION AND DISTRIBUTION BUSINESS.
OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATION
OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATION (OIBDA) INCREASED
19.2% TO PS.3,428.5 MILLION IN THIRD QUARTER 2005 COMPARED WITH PS.2,876.8
MILLION IN THIRD QUARTER 2004. THIS INCREASE REFLECTS OIBDA GROWTH IN ALL
OF OUR BUSINESS SEGMENTS, ATTRIBUTABLE TO HIGHER SALES AND A MARGINAL
DECREASE IN COST OF SALES, WHICH WERE PARTIALLY OFFSET BY HIGHER OPERATING
EXPENSES. OIBDA MARGIN EXPANDED TO AN ALL-TIME HIGH OF 42.2%, UP FROM A
PRO-FORMA MARGIN OF 38.6% REPORTED IN THIRD QUARTER 2004. IN ADDITION,
OPERATING INCOME ROSE 24.6% TO PS.2,808.8 MILLION IN THIRD QUARTER 2005
COMPARED WITH PS.2,253.9 MILLION REPORTED IN LAST YEAR'S THIRD QUARTER.
THE CHARGE FOR OPERATING DEPRECIATION AND AMORTIZATION WAS OF PS.619.7
MILLION AND PS.622.9 MILLION IN THE THIRD QUARTER OF 2005 AND 2004,
RESPECTIVELY.
NET INCOME
NET INCOME INCREASED 8.1% TO PS.1,663.9 MILLION IN THIRD QUARTER 2005
COMPARED TO PS.1,538.7 MILLION IN THIRD QUARTER 2004. THE NET INCREASE OF
PS.125.2 MILLION REFLECTED I) A PS.551.7 MILLION INCREASE IN OIBDA, II) A
PS.3.2 MILLION DECREASE IN DEPRECIATION AND AMORTIZATION, III) A PS.79.3
MILLION DECREASE IN INTEGRAL COST OF FINANCING, AND IV) A PS.273.3 MILLION
DECREASE IN RESTRUCTURING AND NON-RECURRING CHARGES. THESE FAVORABLE
CHANGES WERE PARTIALLY OFFSET BY I) A PS.19.8 MILLION INCREASE IN OTHER
EXPENSE, II) A PS.266.2 MILLION INCREASE IN INCOME TAXES, III) A PS.399.7
MILLION DECREASE IN EQUITY INCOME OF AFFILIATES, AND IV) A PS.96.6 MILLION
INCREASE IN MINORITY INTEREST.
RESULTS BY BUSINESS SEGMENT
AMOUNTS ARE PRESENTED IN MILLIONS OF MEXICAN PESOS FOR EACH OF THE
COMPANY'S BUSINESS SEGMENTS FOR THE THIRD QUARTERS ENDED SEPTEMBER 30, 2005
AND 2004.
TELEVISION BROADCASTING
SALES INCREASED 3% TO PS.4,589.4 MILLION COMPARED WITH PS.4,455.8 MILLION
IN THE SAME QUARTER OF LAST YEAR. THIS INCREASE IS ATTRIBUTABLE TO HIGHER
ADVERTISING REVENUES, DRIVEN MAINLY BY OUR SOAP OPERAS, SITCOMS, AND
REALITY SHOWS, AS WELL AS BY HIGHER LOCAL SALES. THIS INCREASE CAME DESPITE
THE UNFAVORABLE COMPARISON ARISING FROM THE REVENUES GENERATED FROM THE
TRANSMISSION OF THE OLYMPIC GAMES IN THE THIRD QUARTER OF 2004, WHICH
AMOUNTED TO PS.271.2 MILLION. EXCLUDING THIS EVENT, SALES INCREASED 9.7%
YEAR OVER YEAR.
OIBDA INCREASED 6.9% TO PS.2,234.2 MILLION COMPARED WITH PS.2,090.4 MILLION
REPORTED LAST YEAR. OIBDA MARGIN EXPANDED TO 48.7% FROM 46.9% IN THE THIRD
QUARTER OF 2004. THIS INCREASE REFLECTS HIGHER SALES AND LOWER COST OF
SALES, WHICH WERE PARTIALLY OFFSET BY A MARGINAL INCREASE IN OPERATING
EXPENSES.
PAY TELEVISION NETWORKS
SALES INCREASED 30.1% TO PS.283.7 MILLION FROM PS.218 MILLION IN THE SAME
QUARTER OF LAST YEAR. THIS INCREASE REFLECTS I) SALES OF PS.22.4 MILLION IN
TUTV, OUR JOINT VENTURE WITH UNIVISION, WHICH WE BEGAN CONSOLIDATING INTO
OUR FINANCIAL STATEMENTS EFFECTIVE JANUARY 1, 2005; II) AN INCREASE IN
SIGNALS SOLD IN MEXICO; AND III) AN INCREASE IN SIGNALS SOLD IN LATIN
AMERICA, INCLUDING THE RECENT ADDITION OF FIVE OF OUR PAY TELEVISION
CHANNELS TO DIRECTV LATIN AMERICA'S BASIC PACKAGE, WHICH REACHES MORE THAN
800,000 SUBSCRIBERS IN THE REGION.
OIBDA ROSE 46.6% TO PS.141.9 MILLION COMPARED WITH PS.96.8 MILLION REPORTED
IN THE SAME PERIOD OF LAST YEAR. THIS INCREASE WAS DRIVEN BY HIGHER SALES,
WHICH WERE PARTIALLY OFFSET BY AN INCREASE IN COST OF SALES AND OPERATING
EXPENSES. TUTV CONTRIBUTED PS.10.5 MILLION TO OIBDA IN THIRD QUARTER 2005.
PROGRAMMING EXPORTS
SALES INCREASED 0.5% TO PS.465 MILLION COMPARED WITH PS.462.9 MILLION IN
THE SAME QUARTER OF LAST YEAR. THIS MARGINAL INCREASE WAS DRIVEN BY I)
HIGHER PROGRAMMING SALES IN LATIN AMERICA, AND II) A 7.8% INCREASE IN THE
ROYALTIES PAID TO THE COMPANY UNDER THE UNIVISION PROGRAM LICENSE
AGREEMENT, WHICH AMOUNTED TO US$27.8 MILLION IN THIRD QUARTER 2005 COMPARED
WITH US$25.7 MILLION IN THIRD QUARTER 2004. THESE INCREASES WERE PARTIALLY
OFFSET BY I) THE NEGATIVE TRANSLATION EFFECT OF
FOREIGN-CURRENCY-DENOMINATED SALES, WHICH AMOUNTED TO PS.43.7 MILLION; AND
II) LOWER PROGRAMMING SALES IN EUROPE, ASIA, AND AFRICA.
OIBDA INCREASED 7.5% TO PS.171.7 MILLION COMPARED WITH PS.159.7 MILLION IN
THIRD QUARTER 2004, DUE TO HIGHER SALES AND LOWER COST OF SALES AND
OPERATING EXPENSES.
PUBLISHING
SALES ROSE 17.6% TO PS.622.8 MILLION COMPARED WITH PS.529.5 MILLION
REPORTED IN THE SAME PERIOD LAST YEAR. THIS GROWTH WAS ATTRIBUTABLE TO
INCREASES IN MAGAZINE CIRCULATION AND ADVERTISING PAGES SOLD BOTH IN MEXICO
AND ABROAD. THESE INCREASES WERE PARTIALLY OFFSET BY THE NEGATIVE
TRANSLATION EFFECT OF FOREIGN-CURRENCY-DENOMINATED SALES AMOUNTING TO
PS.8.9 MILLION.
OIBDA INCREASED 17.9% TO PS.124.6 MILLION COMPARED WITH PS.105.7 MILLION
REPORTED IN THE SAME PERIOD LAST YEAR. THIS INCREASE REFLECTS HIGHER SALES,
WHICH WERE PARTIALLY OFFSET BY HIGHER COST OF SALES AND OPERATING EXPENSES.
PUBLISHING DISTRIBUTION
SALES INCREASED 9.6% TO PS.105.3 MILLION COMPARED WITH PS.96.1 MILLION
REPORTED IN THE SAME PERIOD LAST YEAR. THE GROWTH IN SALES CAME FROM AN
INCREASE IN THE DISTRIBUTION OF MAGAZINES PUBLISHED BY THE COMPANY IN
MEXICO AND ABROAD. THIS INCREASE WAS PARTIALLY OFFSET BY THE LOWER
CIRCULATION IN MEXICO OF MAGAZINES PUBLISHED BY THIRD PARTIES, AS WELL AS
BY THE NEGATIVE TRANSLATION EFFECT OF FOREIGN-CURRENCY-DENOMINATED SALES,
WHICH AMOUNTED TO PS.2.2 MILLION. OIBDA REACHED PS.4.2 MILLION FROM AN
OPERATING LOSS BEFORE DEPRECIATION AND AMORTIZATION OF PS.7.6 MILLION
REPORTED IN THE SAME PERIOD OF LAST YEAR. THIS FAVORABLE COMPARISON
REFLECTS A RISE IN SALES AND LOWER OPERATING EXPENSES THAT WERE PARTIALLY
OFFSET BY AN INCREASE IN COST OF SALES. SKY MEXICO
SALES ROSE 32% TO PS.1,588 MILLION COMPARED WITH PS.1,202.8 MILLION
REPORTED IN THIRD QUARTER 2004. THIS INCREASE WAS DRIVEN BY A 29.1%
INCREASE IN THE SUBSCRIBER BASE AND STRONGER REVENUES FROM PAY-PER-VIEW,
PRIMARILY FROM NON-RECURRING SPORTS EVENTS BROADCASTED ON AN EXCLUSIVE
BASIS. AS OF SEPTEMBER 30, 2005, THE NUMBER OF GROSS ACTIVE SUBSCRIBERS
REACHED 1,216,600 (INCLUDING 69,200 COMMERCIAL SUBSCRIBERS), COMPARED WITH
942,500 GROSS ACTIVE SUBSCRIBERS (INCLUDING 54,800 COMMERCIAL SUBSCRIBERS)
IN LAST YEAR'S THIRD QUARTER.
OIBDA GREW 58.5% TO PS.694.5 MILLION COMPARED WITH PS.438.1 MILLION
REPORTED IN THE SAME PERIOD LAST YEAR. THE INCREASE IN OIBDA MARGIN TO A
RECORD 43.7%--UP FROM 36.4% IN LAST YEAR'S THIRD QUARTER--REFLECTED HIGHER
SALES, WHICH WERE PARTIALLY OFFSET BY HIGHER COST OF SALES AND OPERATING
EXPENSES.
CABLE TELEVISION
SALES INCREASED 30.7% TO PS.358.7 MILLION COMPARED WITH PS.274.5 MILLION
REPORTED IN THE SAME PERIOD LAST YEAR. SALES GROWTH WAS DRIVEN BY I) A
19.3% INCREASE IN THE SUBSCRIBER BASE, WHICH, AS OF SEPTEMBER 30, 2005,
TOTALED 406,262 SUBSCRIBERS (INCLUDING 233,649 DIGITAL SUBSCRIBERS)
COMPARED WITH LAST YEAR'S BASE OF 340,581 SUBSCRIBERS (INCLUDING 100,442
DIGITAL SUBSCRIBERS); II) AN INCREASE IN BROADBAND SUBSCRIBERS TO 51,779
COMPARED WITH 20,324 REPORTED LAST YEAR; AND III) A 6% RATE INCREASE IN
CABLEVISION VIDEO SERVICE PACKAGES EFFECTIVE MARCH 1, 2005. OIBDA INCREASED
83% TO PS.124.6 MILLION COMPARED WITH PS.68.1 MILLION REPORTED IN THE SAME
PERIOD LAST YEAR. THIS INCREASE REFLECTS HIGHER SALES, WHICH WERE PARTIALLY
OFFSET BY HIGHER COST OF SALES AND OPERATING EXPENSES RELATED TO
CUSTOMER-SERVICE IMPROVEMENTS.
RADIO
SALES ROSE 5.2% TO PS.82.8 MILLION COMPARED WITH PS.78.7 MILLION REPORTED
IN THE SAME PERIOD LAST YEAR. THE SALES GROWTH CAME FROM AN INCREASE IN
ADVERTISING TIME SOLD, MAINLY IN OUR NEWS AND SPORTS PROGRAMS, AS WELL AS
FROM SALES GENERATED BY OUR AFFILIATION AGREEMENT WITH RADIORAMA. OIBDA
INCREASED 101.8%, TO PS.11.3 MILLION FROM PS.5.6 MILLION REPORTED IN THE
SAME PERIOD LAST YEAR. THIS INCREASE WAS DRIVEN PRIMARILY BY HIGHER SALES
AND LOWER OPERATING EXPENSES, WHICH WERE PARTIALLY OFFSET BY AN INCREASE IN
COST OF SALES.
OTHER BUSINESSES
SALES INCREASED 10.9% TO PS.318.6 MILLION COMPARED WITH PS.287.3 MILLION IN
THE SAME PERIOD LAST YEAR. THIS INCREASE WAS DRIVEN BY HIGHER SALES IN I)
OUR SPORTS BUSINESS, AND II) OUR ESMAS.COM INTERNET PORTAL, INCLUDING SALES
RELATED TO OUR SMS MESSAGING SERVICE. THESE INCREASES WERE PARTIALLY OFFSET
BY LOWER SALES IN OUR FEATURE FILM DISTRIBUTION BUSINESS. OPERATING LOSS
BEFORE DEPRECIATION AND AMORTIZATION DECREASED TO PS.31.8 MILLION COMPARED
WITH PS.39 MILLION REPORTED IN THIRD QUARTER 2004. THE FAVORABLE COMPARISON
REFLECTS HIGHER SALES, WHICH WERE PARTIALLY OFFSET BY HIGHER COST OF SALES
AND OPERATING EXPENSES.
INTERSEGMENT SALES
INTERSEGMENT SALES FOR THE THIRD QUARTER OF 2005 AND 2004, AMOUNTED TO
PS.298.3 MILLION AND PS.216.8 MILLION, RESPECTIVELY.
CORPORATE EXPENSES
CORPORATE EXPENSES FOR THE THIRD QUARTER OF 2005 AND 2004, AMOUNTED TO
PS.46.7 MILLION AND PS.37.1 MILLION, RESPECTIVELY.
DISPOSED OPERATIONS
REFLECTS THE RESULTS OF OPERATIONS OF THE COMPANY'S NATIONWIDE PAGING AND
SPORTS BUSINESSES.
SALES OF DISPOSED OPERATIONS FOR THE THIRD QUARTER OF 2004 AMOUNTED TO
PS.71.6 MILLION. OIBDA OF DISPOSED OPERATIONS FOR THE THIRD QUARTER OF 2004
AMOUNTED TO PS.3.9 MILLION.
NON-OPERATING RESULTS
INTEGRAL COST OF FINANCING
THE EXPENSE ATTRIBUTABLE TO THE INTEGRAL COST OF FINANCING DECREASED BY
PS.79.3 MILLION, OR 14.8%, TO PS.456.4 MILLION IN THIRD QUARTER 2005 FROM
PS.535.7 MILLION IN THIRD QUARTER 2004. THIS DECREASE REFLECTED I) A
PS.146.5 MILLION DECREASE IN INTEREST EXPENSE, DUE PRIMARILY TO A REDUCTION
IN THE AVERAGE AMOUNT OF OUR TOTAL CONSOLIDATED DEBT, AS WELL AS A
REDUCTION IN THE AVERAGE COST OF OUR DEBT; AND II) A PS.24.1 MILLION
INCREASE IN INTEREST INCOME IN CONNECTION WITH A HIGHER AVERAGE AMOUNT OF
TEMPORARY INVESTMENTS AND HIGHER INTEREST RATES DURING THIRD QUARTER 2005
COMPARED TO LAST YEAR'S THIRD QUARTER. THESE FAVORABLE VARIANCES WERE
OFFSET BY I) A PS.89.9 MILLION INCREASE IN NET FOREIGN EXCHANGE LOSS
RESULTING PRIMARILY FROM THE DIFFERENCE BETWEEN THE SPOT RATE AND THE
FOREIGN EXCHANGE RATE OF THE COUPON SWAPS ENTERED INTO BY TELEVISA TO SWAP
INTO FIXED MEXICAN PESOS FOR UP TO FIVE YEARS U.S.-DOLLAR-DENOMINATED
COUPONS OF A PORTION OF TELEVISA'S U.S.-DOLLAR-DENOMINATED OUTSTANDING
INDEBTEDNESS; AND II) A PS.1.4 MILLION DECREASE IN GAIN FROM MONETARY
POSITION RESULTING PRIMARILY FROM LOWER INFLATION IN MEXICO IN THIRD
QUARTER 2005 COMPARED TO THIRD QUARTER 2004.
RESTRUCTURING AND NON-RECURRING CHARGES
RESTRUCTURING AND NON-RECURRING CHARGES DECREASED BY PS.273.3 MILLION TO
PS.18.3 MILLION IN THIRD QUARTER 2005 COMPARED WITH PS.291.6 MILLION IN
THIRD QUARTER 2004. THIS DECREASE REFLECTED THE RECOGNITION IN THIRD
QUARTER 2004 OF NON-RECURRING IMPAIRMENT ADJUSTMENTS TO THE CARRYING VALUE
OF CERTAIN GOODWILL AND TRADEMARKS, AS WELL AS A DECREASE IN RESTRUCTURING
CHARGES IN CONNECTION WITH WORKFORCE REDUCTIONS.
OTHER EXPENSE, NET
OTHER EXPENSE INCREASED BY PS.19.8 MILLION, OR 26.4%, TO PS.94.7 MILLION IN
THIRD QUARTER 2005 COMPARED WITH PS.74.9 MILLION IN THIRD QUARTER 2004.
THIS INCREASE REFLECTED PRIMARILY A HIGHER EXPENSE IN ADVISORY AND
PROFESSIONAL SERVICES.
INCOME TAX
INCOME TAX INCREASED BY PS.266.2 MILLION, TO PS.428.6 MILLION IN THIRD
QUARTER 2005 FROM PS.162.4 MILLION IN THIRD QUARTER 2004. THIS INCREASE
REFLECTED PRIMARILY A HIGHER INCOME TAX BASE IN THIRD QUARTER 2005.
EQUITY IN INCOME OF AFFILIATES
EQUITY IN INCOME OF AFFILIATES DECREASED BY PS.399.7 MILLION, OR 95.8%, TO
PS.17.7 MILLION IN THIRD QUARTER 2005 COMPARED WITH PS.417.4 MILLION IN
THIRD QUARTER 2004. THIS DECREASE REFLECTED PRIMARILY THE ABSENCE OF THE
EQUITY INCOME RECOGNIZED IN THIRD QUARTER 2004 DUE TO THE REVERSAL OF
PREVIOUS EQUITY LOSSES RECOGNIZED IN EXCESS OF OUR INVESTMENT IN SKY
MULTI-COUNTRY PARTNERS ("MCOP") IN CONNECTION WITH THE RELEASE OF OUR
GUARANTEE OF MCOP'S SATELLITE TRANSPONDER PAYMENTS; AS WELL AS A REDUCTION
IN EQUITY INCOME OF UNIVISION.
MINORITY INTEREST
MINORITY INTEREST INCREASED BY PS.96.6 MILLION TO PS.164.6 MILLION IN THIRD
QUARTER 2005, FROM PS.68 MILLION IN THIRD QUARTER 2004. THIS INCREASE
REFLECTED PRIMARILY THE PORTION OF NET INCOME ATTRIBUTABLE TO THE INTEREST
HELD BY THIRD PARTIES IN THE SKY MEXICO BUSINESS.
OTHER RELEVANT INFORMATION
CAPITAL EXPENDITURES AND INVESTMENTS
IN THE THIRD QUARTER OF 2005, WE INVESTED APPROXIMATELY US$46.1 MILLION IN
PROPERTY, PLANT, AND EQUIPMENT AS CAPITAL EXPENDITURES, OF WHICH
APPROXIMATELY US$12.9 MILLION AND US$19 MILLION ARE RELATED TO OUR CABLE
TELEVISION AND SKY MEXICO SEGMENTS, RESPECTIVELY.
DEBT
THE TOTAL CONSOLIDATED DEBT AMOUNTED TO PS.18,643.2 MILLION AND PS.20,179.6
MILLION AS OF SEPTEMBER 30, 2005 AND 2004, RESPECTIVELY, WHICH INCLUDED A
CURRENT PORTION OF LONG-TERM DEBT IN THE AMOUNT OF PS.184.1 MILLION AND
PS.2,491.1 MILLION, RESPECTIVELY, AND LONG-TERM DEBT OF SKY MEXICO IN THE
AMOUNT OF PS.3,229.5 MILLION AND PS.4,576.8 MILLION, RESPECTIVELY.
ADDITIONALLY, SKY MEXICO HAD A SATELLITE TRANSPONDER LEASE OBLIGATION IN
THE AMOUNT OF PS.1,296.8 MILLION AND PS.1,493.7 MILLION AS OF SEPTEMBER 30,
2005 AND 2004, RESPECTIVELY, WHICH INCLUDED A CURRENT PORTION OF PS.74.4
MILLION AND PS.72.7 MILLION, RESPECTIVELY.
AS OF SEPTEMBER 30, 2005 AND 2004, OUR CONSOLIDATED NET DEBT WAS PS.7,500.4
MILLION AND PS.9,268.8 MILLION, RESPECTIVELY.
IN JULY 2005, SKY MEXICO ENTERED INTO A PS.1,012.0 MILLION LONG-TERM LOAN
WITH GRUPO TELEVISA, THE PROCEEDS OF WHICH WERE USED BY SKY MEXICO TO
PREPAY ANY OUTSTANDING AMOUNTS UNDER ITS CREDIT AGREEMENT WITH HSBC MEXICO.
THIS LONG-TERM LOAN INCLUDES TERMS IDENTICAL TO THOSE OF SKY'S PREVIOUS
CREDIT AGREEMENT.
DURING THE QUARTER, TELEVISA PAID IN FULL ITS US$200 MILLION 8 5/8% SENIOR
NOTES DUE IN AUGUST 2005 WITH CASH ON HAND. WITH THIS PAYMENT, TELEVISA HAS
NO OTHER MATERIAL DEBT AMORTIZATIONS UNTIL 2007.
SHARE BUYBACK PROGRAM
FROM JULY 1 THROUGH SEPTEMBER 30, 2005, WE REPURCHASED APPROXIMATELY 10
MILLION CPOS FOR PS.345.5 MILLION IN NOMINAL TERMS. YEAR-TO-DATE, WE HAVE
REPURCHASED APPROXIMATELY 28.7 MILLION OF CPOS FOR PS.939.6 MILLION IN
NOMINAL TERMS.
TELEVISION RATINGS AND AUDIENCE SHARE
NATIONAL URBAN RATINGS AND AUDIENCE SHARE REPORTED BY IBOPE CONFIRM THAT,
IN THE THIRD QUARTER 2005, TELEVISA CONTINUED TO DELIVER STRONG RATINGS AND
AUDIENCE SHARES. DURING WEEKDAY PRIME TIME (19:00 TO 23:00, MONDAY TO
FRIDAY), AUDIENCE SHARE AMOUNTED TO 69.3%; IN PRIME TIME (16:00 TO 23:00,
MONDAY TO SUNDAY), AUDIENCE SHARE AMOUNTED TO 68.9%; AND IN SIGN-ON TO
SIGN-OFF (6:00 TO 24:00, MONDAY TO SUNDAY), AUDIENCE SHARE AMOUNTED TO
70.1%.
GAMING BUSINESS
WE RECENTLY OBTAINED A PERMIT FROM THE SECRETARIA DE GOBERNACION, OR
MEXICAN MINISTRY OF THE INTERIOR, TO OPERATE SPORTBOOKS AND NUMBER DRAWS,
INCLUDING THE ESTABLISHMENT OF 65 LOCATIONS THROUGHOUT MEXICO. WE ARE IN
THE PROCESS OF FINALIZING THE BUSINESS PLAN FOR THIS NEW VENTURE.
FREE-TO-AIR TELEVISION CONCESSION IN SPAIN
WE RECENTLY ANNOUNCED THAT TELEVISA IS PARTICIPATING IN A CONSORTIUM THAT
HAS PRESENTED A PROPOSAL TO THE GOVERNMENT OF SPAIN TO OBTAIN A CONCESSION
FOR A FREE-TO-AIR TELEVISION CHANNEL IN SPAIN. TELEVISA HAS A 40%
PARTICIPATION INTEREST IN THIS CONSORTIUM, AND A GROUP OF SPANISH INVESTORS
LED BY GRUPO ARBOL AND MEDIAPRO OWNS 60%. IF GRANTED, THE CONCESSION IS
EXPECTED TO BE EFFECTIVE DURING DECEMBER 2005. NO PAYMENT IS REQUIRED TO
OBTAIN THE CONCESSION.
OUTLOOK FOR 2005
WE EXPECT TELEVISION BROADCASTING SALES TO INCREASE APPROXIMATELY 5% IN
2005. IN ADDITION, WE WILL CONTINUE TO KEEP COSTS AND EXPENSES UNDER
CONTROL THROUGHOUT THE YEAR, WHICH SHOULD ALLOW OUR TELEVISION BROADCASTING
OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATION MARGIN TO EXCEED 47%.
ABOUT TELEVISA
GRUPO TELEVISA, S.A. IS THE LARGEST MEDIA COMPANY IN THE SPANISH-SPEAKING
WORLD, AND A MAJOR PARTICIPANT IN THE INTERNATIONAL ENTERTAINMENT BUSINESS.
IT HAS INTERESTS IN TELEVISION PRODUCTION AND BROADCASTING, PRODUCTION OF
PAY TELEVISION NETWORKS, INTERNATIONAL DISTRIBUTION OF TELEVISION
PROGRAMMING, DIRECT-TO-HOME SATELLITE SERVICES, PUBLISHING AND PUBLISHING
DISTRIBUTION, CABLE TELEVISION, RADIO PRODUCTION AND BROADCASTING,
PROFESSIONAL SPORTS AND LIVE ENTERTAINMENT, FEATURE FILM PRODUCTION AND
DISTRIBUTION, AND THE OPERATION OF A HORIZONTAL INTERNET PORTAL. GRUPO
TELEVISA ALSO OWNS AN UNCONSOLIDATED EQUITY STAKE IN UNIVISION, THE LEADING
SPANISH-LANGUAGE MEDIA COMPANY IN THE UNITED STATES.
DISCLAIMER
THIS ANNEX CONTAINS FORWARD-LOOKING STATEMENTS REGARDING THE COMPANY'S
RESULTS AND PROSPECTS. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THESE
STATEMENTS. THE FORWARD-LOOKING STATEMENTS IN THIS ANNEX SHOULD BE READ IN
CONJUNCTION WITH THE FACTORS DESCRIBED IN "ITEM 3. KEY INFORMATION -
FORWARD-LOOKING STATEMENTS" IN THE COMPANY'S ANNUAL REPORT ON FORM 20-F,
WHICH, AMONG OTHERS, COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM
THOSE CONTAINED IN FORWARD-LOOKING STATEMENTS MADE IN THIS ANNEX AND IN
ORAL STATEMENTS MADE BY AUTHORIZED OFFICERS OF THE COMPANY. READERS ARE
CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS,
WHICH SPEAK ONLY AS OF THEIR DATES. THE COMPANY UNDERTAKES NO OBLIGATION TO
PUBLICLY UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS, WHETHER AS A
RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
THE PRO-FORMA INFORMATION IS PRESENTED FOR INFORMATIONAL PURPOSES ONLY AND
DOES NOT PURPORT TO REPRESENT WHAT OUR FINANCIAL POSITION OR RESULTS OF
OPERATIONS WOULD HAVE BEEN HAD RECOGNITION OF SALES AND COST OF GOODS SOLD
BEEN REALIZED DURING THE SPECIFIED PERIODS. FURTHERMORE, THE READER SHOULD
NOT RELY ON THE PRO-FORMA INFORMATION AS AN INDICATION OF THE RESULTS OF
OPERATIONS OF FUTURE PERIODS.
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
FINANCIAL STATEMENT NOTES (1)
ANNEX 2
CONSOLIDATED
FINAL PRINTING
-------------------------------------------------------------------------------
GRUPO TELEVISA, S.A.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004
(IN THOUSANDS OF MEXICAN PESOS IN PURCHASING POWER AS
OF SEPTEMBER 30, 2005, EXCEPT PER SHARE, PER CPO AND PER UDI VALUES)
1. ACCOUNTING POLICIES:
THE CONDENSED FINANCIAL STATEMENTS OF GRUPO TELEVISA, S.A. (THE
"COMPANY") AND ITS CONSOLIDATED SUBSIDIARIES (COLLECTIVELY, THE "GROUP"),
AS OF SEPTEMBER 30, 2005 AND 2004, AND FOR THE NINE MONTHS ENDED ON THOSE
DATES, ARE UNAUDITED. IN THE OPINION OF MANAGEMENT, ALL ADJUSTMENTS
(CONSISTING PRINCIPALLY OF NORMAL RECURRING ADJUSTMENTS) NECESSARY FOR A
FAIR PRESENTATION OF THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS HAVE
BEEN INCLUDED THEREIN.
FOR PURPOSES OF THESE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS,
CERTAIN INFORMATION AND DISCLOSURES, NORMALLY INCLUDED IN FINANCIAL
STATEMENTS PREPARED IN ACCORDANCE WITH MEXICAN GENERALLY ACCEPTED
ACCOUNTING PRINCIPLES ("MEXICAN GAAP"), HAVE BEEN CONDENSED OR OMITTED.
THESE CONDENSED CONSOLIDATED STATEMENTS SHOULD BE READ IN CONJUNCTION WITH
THE GROUP'S CONSOLIDATED AND AUDITED FINANCIAL STATEMENTS AND NOTES THERETO
FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003, WHICH INCLUDE, AMONG OTHER
DISCLOSURES, THE GROUP'S MOST SIGNIFICANT ACCOUNTING POLICIES, WHICH HAVE
BEEN APPLIED ON A CONSISTENT BASIS FOR THE NINE MONTHS ENDED SEPTEMBER 30,
2005, EXCEPT FOR THE MATTERS DISCUSSED IN THE FOLLOWING PARAGRAPHS.
EFFECTIVE JANUARY 1, 2005, THE GROUP ADOPTED THE PROVISIONS FOR
SEVERANCE OBLIGATIONS REQUIRED BY THE REVISED BULLETIN D-3, "LABOR
OBLIGATIONS" ISSUED BY THE MEXICAN INSTITUTE OF PUBLIC ACCOUNTANTS
("MIPA"). BULLETIN D-3 REQUIRES THAT SEVERANCE OBLIGATIONS TO DISMISSED
PERSONNEL, OTHER THAN THOSE ARISING FROM RESTRUCTURINGS, BE RECOGNIZED
BASED UPON ACTUARIAL CALCULATIONS (SEE NOTE 11). THROUGH DECEMBER 31, 2004,
SEVERANCE OBLIGATIONS TO DISMISSED PERSONNEL WERE CHARGED BY THE GROUP TO
INCOME IN THE YEAR IN WHICH THEY WERE INCURRED.
EFFECTIVE JANUARY 1, 2005, THE GROUP ADOPTED THE PROVISIONS OF THE
BULLETIN C-10, "DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE OPERATIONS"
ISSUED BY THE MIPA, BULLETIN C-10 REQUIRES, AMONG OTHER PROVISIONS, THAT
ALL DERIVATIVE INSTRUMENTS, INCLUDING CERTAIN DERIVATIVE INSTRUMENTS
EMBEDDED IN OTHER CONTRACTS, BE RECORDED IN THE BALANCE SHEET AS EITHER AN
ASSET OR A LIABILITY MEASURED AT ITS FAIR VALUE. THE ADOPTION OF BULLETIN
C-10 AT JANUARY 1, 2005, DID NOT HAVE A MATERIAL EFFECT ON THE GROUP'S
CONSOLIDATED FINANCIAL STATEMENTS.
2. PROPERTY, PLANT AND EQUIPMENT:
PROPERTY, PLANT AND EQUIPMENT AS OF SEPTEMBER 30, CONSISTED OF:
2005 2004
----------------- ---------------
BUILDINGS Ps. 7,839,901 Ps. 7,690,352
BUILDING IMPROVEMENTS 1,558,034 1,758,004
TECHNICAL EQUIPMENT 17,883,634 13,722,520
SATELLITE TRANSPONDERS 1,658,821 1,740,675
FURNITURE AND FIXTURES 495,815 619,271
TRANSPORTATION EQUIPMENT 1,121,478 1,142,934
COMPUTER EQUIPMENT 1,409,503 1,233,057
----------------- ---------------
31,967,186 27,906,813
ACCUMULATED DEPRECIATION (17,060,728) (13,054,956)
----------------- ---------------
14,906,458 14,851,857
LAND 3,769,049 3,778,053
CONSTRUCTION AND PROJECTS IN PROGRESS 395,816 760,671
----------------- ---------------
Ps. 19,071,323 Ps. 19,390,581
================= ===============
DEPRECIATION CHARGED TO INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30,
2005 AND 2004, WAS PS.1,527,983 AND PS.1,364,980, RESPECTIVELY.
3. LONG-TERM DEBT SECURITIES:
AS OF SEPTEMBER 30, THE COMPANY'S LONG-TERM DEBT SECURITIES
OUTSTANDING WERE AS FOLLOWS:
2005 2004
--------------------------------------- -----------------------------------
U.S. DOLLAR U.S. DOLLAR
PRINCIPAL PRINCIPAL
AMOUNTS MEXICAN AMOUNTS MEXICAN
LONG-TERM DEBT SECURITIES (THOUSANDS) PESOS (THOUSANDS) PESOS
------------------------------------------------ ----------------- -------------------- --------------- ------------------
11.875% SERIES "B" SENIOR NOTES DUE 2006
(A) (C) $ 5,343 Ps. 57,517 $ 5,343 Ps. 63,026
8.625% SENIOR NOTES DUE 2005 (B) (C) - - 200,000 2,359,195
8.000% SENIOR NOTES DUE 2011 (B) (C) (D) 75,484 812,585 300,000 3,538,793
6.625% SENIOR NOTES DUE 2025 (B) (C) (D) 600,000 6,459,000 - -
8.500% SENIOR NOTES DUE 2032 (B) (C) 300,000 3,229,500 300,000 3,538,793
INNOVA'S 12.875% SENIOR NOTES DUE 2007 - - 88,000 1,038,046
INNOVA'S 9.375% SENIOR NOTES DUE 2013 (E) 300,000 3,229,500 300,000 3,538,793
----------------- -------------------- --------------- ------------------
$ 1,280,827 13,788,102 $ 1,193,343 14,076,646
================= ===============
UDI-DENOMINATED NOTES DUE 2007 (D) (F) 927,917 3,887,663
-------------------- ------------------
Ps. 14,716,019 Ps. 17,964,309
==================== ==================
(A) THESE SECURITIES ARE UNSECURED, UNSUBORDINATED OBLIGATIONS OF THE
COMPANY, RANK PARI PASSU IN RIGHT OF PAYMENT WITH ALL EXISTING AND
FUTURE UNSECURED, UNSUBORDINATED OBLIGATIONS OF THE COMPANY, AND ARE
SENIOR IN RIGHT OF PAYMENT TO ALL FUTURE SUBORDINATED INDEBTEDNESS OF
THE COMPANY, AND ARE EFFECTIVELY SUBORDINATED TO ALL EXISTING AND
FUTURE LIABILITIES OF THE COMPANY'S SUBSIDIARIES.
(B) THESE SECURITIES 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. THE AGREEMENT OF THESE SENIOR NOTES CONTAINS CERTAIN
COVENANTS THAT LIMIT THE ABILITY OF THE COMPANY AND ITS RESTRICTED
SUBSIDIARIES ENGAGED IN TELEVISION BROADCASTING, PAY TELEVISION
NETWORKS AND PROGRAMMING EXPORTS, TO INCUR OR ASSUME LIENS, PERFORM
SALE AND LEASEBACK TRANSACTIONS, AND CONSUMMATE CERTAIN MERGERS,
CONSOLIDATIONS AND SIMILAR TRANSACTIONS. SUBSTANTIALLY ALL OF THESE
SENIOR NOTES ARE REGISTERED WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION. THE SENIOR NOTES DUE 2011 AND 2032 WERE PRICED AT 98.793%
AND 99.431%, RESPECTIVELY, FOR A YIELD TO MATURITY OF 8.179% AND
8.553%, RESPECTIVELY.
(C) INTEREST ON SERIES "B" SENIOR NOTES DUE 2006, AND SENIOR NOTES DUE
2005, 2011, 2025 AND 2032, INCLUDING ADDITIONAL AMOUNTS PAYABLE IN
RESPECT OF CERTAIN MEXICAN WITHHOLDING TAXES, IS 12.49%, 9.07%, 8.41%,
6.97% AND 8.94% PER ANNUM, RESPECTIVELY, AND IS PAYABLE SEMI-ANNUALLY.
THESE SENIOR NOTES MAY NOT BE REDEEMED PRIOR TO MATURITY, EXCEPT IN
THE EVENT OF CERTAIN CHANGES IN LAW AFFECTING THE MEXICAN WITHHOLDING
TAX TREATMENT OF CERTAIN PAYMENTS ON THE SECURITIES, IN WHICH CASE THE
SECURITIES WILL BE REDEEMABLE, AS A WHOLE BUT NOT IN PART, AT THE
OPTION OF THE COMPANY.
(D) ON MARCH 18, 2005 AND MAY 26, 2005, THE COMPANY ISSUED U.S.$400
MILLION AND U.S.$200 MILLION AGGREGATE PRINCIPAL AMOUNT OF 6.625%
SENIOR NOTES DUE 2025, RESPECTIVELY, WHICH WERE PRICED AT 98.081% AND
98.632%, RESPECTIVELY, FOR A YIELD TO MATURITY OF 6.802% AND 6.787%,
RESPECTIVELY. THE NET PROCEEDS OF THE U.S.$400 MILLION OFFERING,
TOGETHER WITH CASH ON HAND, WERE USED TO FUND THE GROUP'S TENDER
OFFERS MADE ON MARCH 15, 2005 FOR ANY OR ALL OF THE U.S.$300 MILLION
AGGREGATE PRINCIPAL AMOUNT OF 8.00% SENIOR NOTES DUE 2011 AND THE
MEXICAN PESOS EQUIVALENT OF THE AGGREGATE PRINCIPAL AMOUNT OF 8.15%
UDI-DENOMINATED NOTES DUE 2007. THE TENDER OFFERS FOR THE SENIOR NOTES
DUE 2011 AND THE UDI-DENOMINATED NOTES DUE 2007 EXPIRED ON MARCH 21,
2005 AND MARCH 23, 2005, RESPECTIVELY, AND THE COMPANY PREPAID
PRINCIPAL AMOUNT OF LONG-TERM DEBT IN THE AMOUNT OF APPROXIMATELY
U.S.$222 MILLION AND PS.2,935,097 (NOMINAL), RESPECTIVELY,
REPRESENTING APPROXIMATELY 74% AND 76% OF THE OUTSTANDING PRINCIPAL
AMOUNT OF THESE SECURITIES, RESPECTIVELY. THE NET PROCEEDS OF THE
U.S.$200 MILLION OFFERING ARE INTENDED TO BE USED FOR CORPORATE
PURPOSES, INCLUDING THE REPAYMENT OF SOME OF THE GROUP'S OUTSTANDING
INDEBTEDNESS (SEE NOTE 14).
(E) IN SEPTEMBER 2003, INNOVA COMPLETED THE OFFERING OF THESE U.S.$300
MILLION SENIOR NOTES, BEARING AN INTEREST AT A COUPON RATE OF 9.375%,
PAYABLE SEMIANNUALLY. THESE SECURITIES ARE UNSECURED AND
UNSUBORDINATED INDEBTEDNESS OF INNOVA AND CONTAIN CERTAIN RESTRICTIVE
COVENANTS FOR INNOVA ON ADDITIONAL INDEBTEDNESS, LIENS, SALES AND
LEASEBACKS, RESTRICTED PAYMENTS, ASSETS SALES, AND CERTAIN MERGERS,
CONSOLIDATIONS AND SIMILAR TRANSACTIONS. INNOVA MAY, AT ITS OWN
OPTION, REDEEM THESE SENIOR NOTES, IN WHOLE OR IN PART, AT ANY TIME ON
OR AFTER SEPTEMBER 19, 2008 AT REDEMPTION PRICES FROM 104.6875% TO
101.5625% BETWEEN SEPTEMBER 19, 2008 THROUGH SEPTEMBER 18, 2011, OR
100% COMMENCING ON SEPTEMBER 19, 2011, PLUS ACCRUED AND UNPAID
INTEREST, IF ANY. ADDITIONALLY, ON OR BEFORE SEPTEMBER 19, 2006,
INNOVA MAY, AT ITS OWN OPTION AND SUBJECT TO CERTAIN REQUIREMENTS, USE
THE PROCEEDS FROM ONE OR MORE QUALIFIED EQUITY OFFERING TO REDEEM UP
TO 35% OF THE AGGREGATE PRINCIPAL AMOUNT OF THESE SENIOR NOTES AT
109.375% OF THEIR PRINCIPAL AMOUNT, PLUS ACCRUED AND UNPAID INTEREST.
(F) NOTES DENOMINATED IN MEXICAN INVESTMENT UNITS ("UNIDADES DE INVERSION"
OR "UDIS"), REPRESENTING 258,711,400 AND 1,086,007,800 UDIS AS OF
SEPTEMBER 30, 2005 AND 2004, RESPECTIVELY, WITH AN ANNUAL INTEREST
RATE OF 8.15% AND MATURITY IN 2007. INTEREST ON THESE NOTES IS PAYABLE
SEMI-ANNUALLY. THE BALANCE AS OF SEPTEMBER 30, 2005 AND 2004 INCLUDES
RESTATEMENT OF PS.213,250 AND PS.782,368, RESPECTIVELY. THE UDI VALUE
AS OF SEPTEMBER 30, 2005, WAS PS. 3.586687 PER ONE UDI.
EFFECTIVE MARCH 1, 2002, THE GROUP DESIGNATED ITS NET INVESTMENT IN
UNIVISION AS AN EFFECTIVE HEDGE OF THE FOREIGN EXCHANGE DIFFERENCES ARISING
FROM THE PRINCIPAL AMOUNT OF ITS OUTSTANDING SENIOR NOTES DUE IN 2011 AND
2032. EFFECTIVE MARCH 18, 2005, THE GROUP DESIGNATED ITS NET INVESTMENT IN
UNIVISION AS A HEDGE OF THE FOREIGN EXCHANGE DIFFERENCES ARISING FROM THE
U.S.$400 MILLION SENIOR NOTES DUE 2025 ISSUED IN CONNECTION WITH THE
PREPAYMENT OF APPROXIMATELY U.S.$485.4 MILLION OF PRINCIPAL AMOUNT OF THE
COMPANY'S OUTSTANDING LONG-TERM DEBT. CONSEQUENTLY, ANY FOREIGN EXCHANGE
GAIN OR LOSS ATTRIBUTABLE TO THIS U.S. DOLLAR LONG-TERM DEBT IS CREDITED OR
CHARGED DIRECTLY TO EQUITY (OTHER COMPREHENSIVE INCOME OR LOSS) (SEE NOTE
7). AS OF SEPTEMBER 30, 2005, THE TOTAL PRINCIPAL AMOUNT OF THE COMPANY'S
LONG-TERM DEBT BEING HEDGED BY UNIVISION WAS APPROXIMATELY U.S.$775.5
MILLION.
IN JUNE 2005, THE GROUP REPURCHASED U.S.$2.0 MILLION OF THE
OUTSTANDING PRINCIPAL AMOUNT OF SENIOR NOTES DUE 2011 IN THE AGGREGATE
AMOUNT OF U.S.$2.4 MILLION.
4. CONTINGENCIES:
IN JUNE 2003, THE COMPANY WAS NOTIFIED BY THE MEXICAN TAX AUTHORITY OF
A FEDERAL TAX CLAIM MADE AGAINST THE COMPANY FOR APPROXIMATELY PS.960,700,
INCLUDING PENALTIES AND SURCHARGES, FOR AN ALLEGED ASSETS TAX LIABILITY FOR
THE YEAR 1994. THE COMPANY BELIEVES IT HAS MERITORIOUS DEFENSE AGAINST THIS
CLAIM.
THERE ARE VARIOUS LEGAL ACTIONS AND OTHER CLAIMS PENDING AGAINST THE
GROUP INCIDENTAL TO ITS BUSINESSES AND OPERATIONS. IN THE OPINION OF THE
GROUP'S MANAGEMENT, NONE OF THESE PROCEEDINGS WILL HAVE A MATERIAL ADVERSE
EFFECT ON THE GROUP'S FINANCIAL POSITION OR RESULTS OF OPERATIONS.
5. STOCKHOLDERS' EQUITY:
THE MAJORITY STOCKHOLDERS' EQUITY AS OF SEPTEMBER 30, IS ANALYZED AS
FOLLOWS:
2005 2004
----------------------------------- ------------------------------------
NOMINAL RESTATED NOMINAL RESTATED
PESOS PESOS PESOS PESOS
--------------- ------------------ ------------------ ----------------
CAPITAL STOCK ISSUED Ps. 2,524,174 Ps. 9,734,957 Ps. 2,524,174 Ps. 9,734,957
ADDITIONAL PAID-IN CAPITAL 3,841,792 4,146,629 3,841,792 4,146,629
LEGAL RESERVE 1,018,068 1,770,290 802,231 1,550,744
RESERVE FOR REPURCHASE OF SHARES 2,255,655 5,654,834 2,255,655 5,654,834
UNAPPROPRIATED EARNINGS 2,961,418 11,318,044 7,749,823 11,734,395
CUMULATIVE GAIN ON ISSUANCE OF SHARES OF ASSOCIATES 3,454,442 3,902,549 3,486,635 4,002,320
CUMULATIVE EFFECT OF DEFERRED TAXES (2,197,681) (2,939,909) (2,197,681) (2,939,909)
ACCUMULATED OTHER COMPREHENSIVE LOSS -- (3,914,130) -- (3,058,971)
NET INCOME FOR THE NINE MONTHS -- 3,552,138 2,387,396 2,521,909
SHARES REPURCHASED (6,018,027) (5,877,340) (6,338,015) (6,700,987)
------------------ ----------------
TOTAL MAJORITY STOCKHOLDERS' EQUITY Ps. 26,524,415 Ps.27,008,893
================== ================
IN APRIL, 2004, THE COMPANY'S STOCKHOLDERS APPROVED A DIVIDEND PAYMENT
IN THE AMOUNT OF PS.3,850,000 (NOMINAL), WHICH WAS PAID IN CASH ON MAY 21,
2004, AS FOLLOWS: A DIVIDEND OF PS.1.21982800845 PER CPO, AND A DIVIDEND OF
PS.0.40660933615 PER FORMER SERIES "A" SHARE (NOT IN THE FORM OF A CPO AND
BEFORE THE RECAPITALIZATION).
IN APRIL, 2004, THE COMPANY'S STOCKHOLDERS APPROVED A RESTRUCTURING OF
THE COMPANY'S CAPITAL STOCK ("THE RECAPITALIZATION"), WHICH COMPRISED THE
FOLLOWING: (I) A 25-FOR-ONE STOCK SPLIT, WHICH BECAME EFFECTIVE ON JULY 26,
2004 (ALL THE COMPANY'S SHARE DATA IN THESE FINANCIAL STATEMENTS ARE
PRESENTED ON POST-SPLIT BASIS); (II) THE CREATION OF THE SERIES "B" SHARES;
(III) A 14-FOR-25 STOCK DIVIDEND IN THE AMOUNT OF PS.953,136 (NOMINAL OF
PS.906,114); AND (IV) AN INCREASE IN THE NUMBER OF SHARES REPRESENTED BY
EACH OUSTANDING CPO. THE RECAPITALIZATION INCREASED THE NUMBER OF THE
COMPANY'S SHARES BY A FACTOR OF 39 ON A PRE-SPLIT BASIS BUT DID NOT AFFECT
THE COMPANY'S TOTAL EQUITY OR DILUTE THE EQUITY INTEREST OF ANY
SHAREHOLDER.
IN CONNECTION WITH THE COMPANY'S RECAPITALIZATION IN JULY 2004, THE
COMPANY ISSUED 312,880,056 ADDITIONAL CPOS BY COMBINING 7,822,001,400
SERIES "A" SHARES, 6,883,361,232 SERIES "B" SHARES, 10,950,801,960 SERIES
"D" SHARES AND 10,950,801,960 SERIES "L" SHARES, NOT IN THE FORM OF CPOS,
WHICH WERE OWNED BY CERTAIN SHAREHOLDERS. ADDITIONALY, IN OCTOBER, 2004,
THE COMPANY ISSUED 79,956,795 ADDITIONAL CPOS BY COMBINING 1,998,919,875
SERIES "A" SHARES, 1,759,049,490 SERIES "B" SHARES, 2,798,487,825 SERIES
"D" SHARES, AND 2,798,487,825 SERIES "L" SHARES, NOT IN THE FORM OF CPOS,
WHICH WERE ACQUIRED BY A COMPANY'S TRUST (EQUIVALENT TO 76,510,876 CPOS)
AND A COMPANY'S SUBSIDIARY (EQUIVALENT TO 3,445,919 CPOS).
IN APRIL, 2005, THE COMPANY ISSUED 4,285 ADDITIONAL CPOS BY COMBINING
107,125 SERIES "A" SHARES, 94,270 SERIES "B" SHARES, 149,975 SERIES "D"
SHARES AND 149,975 SERIES "L" SHARES, NOT IN THE FORM OF CPOS, WHICH WERE
ACQUIRED BY A TRUST FOR A GROUP'S PENSION PLAN.
IN APRIL 2005, THE COMPANY'S STOCKHOLDERS APPROVED A DIVIDEND PAYMENT
IN THE AMOUNT OF PS.1.35 PER CPO, EQUIVALENT TO PS.4,214,750 (NOMINAL),
WHICH WAS PAID IN CASH ON MAY 31, 2005.
AS OF SEPTEMBER 30, 2005, THE NUMBER OF SHARES AND CPOS ISSUED,
REPURCHASED AND OUTSTANDING IS PRESENTED AS FOLLOWS:
SHARES ISSUED REPURCHASED OUTSTANDING
------------- ------------------ ------------------ -------------------
SERIES "A" 124,736,244,175 10,383,806,260 114,352,437,915
SERIES "B" 60,269,682,796 6,205,297,983 54,064,384,813
SERIES "D" 92,133,721,715 6,122,258,644 86,011,463,071
SERIES "L" 92,133,721,715 6,122,258,644 86,011,463,071
------------------ ------------------ -------------------
369,273,370,401 28,833,621,531 340,439,748,870
================== ================== ===================
CPOS 2,632,390,232 174,921,674 2,457,468,558
============= ================== ================== ====================
THE COMPANY'S SHARES REPURCHASED, AS WELL AS THEIR NET COST, AS OF
SEPTEMBER 30, 2005, ARE PRESENTED AS A CHARGE TO STOCKHOLDERS' EQUITY, AS
FOLLOWS:
A, B, D, AND L SHARES
------------------------------------------------------
IN THE FORM NOT IN THE
OF CPOS FORM OF CPOS TOTAL NET COST
-------------------------------------------------------------------------
REPURCHASE PROGRAM 5,166,954,000 - 5,166,954,000 PS. (1,337,616)
OWNED BY A COMPANY'S SUBSIDIARY 6,347,109,366 537,563,559 6,884,672,925 (1,412,636)
ACQUIRED BY A COMPANY'S TRUST 8,951,772,492 7,830,222,114 16,781,994,606 (3,926,166)
-------------------------------------------------------------------------
20,465,835,858 8,367,785,673 28,833,621,531 PS. (6,676,418)
=========================================================================
IN CONNECTION WITH THE COMPANY'S PROGRAM FOR REPURCHASE OF SHARES, IN
THE NINE MONTHS ENDED SEPTEMBER 30, 2005, THE COMPANY REPURCHASED
3,354,319,800 SHARES IN THE FORM OF 28,669,400 CPOS IN THE AMOUNT OF
PS.945,922 (PS.939,635 NOMINAL).
IN MARCH 2005, THE GROUP RELEASED 2,036,135,556 SHARES IN THE FORM OF
17,402,868 CPOS, IN THE AMOUNT OF APPROXIMATELY PS.172,286, IN CONNECTION
WITH THE COMPANY'S STOCK PURCHASE PLAN. ALSO, IN JULY 2005, THE GROUP
RELEASED 1,114,850,763 SHARES, IN THE FORM OF 9,528,639 CPOS, IN THE AMOUNT
OF APPROXIMATELY PS.122,710 IN CONNECTION WITH SUCH PLAN.
6. REPURCHASE OF SHARES:
AS OF SEPTEMBER 30, 2005, THE COMPANY MAINTAINS A RESERVE FOR
REPURCHASE OF SHARES, WHICH WAS APPROVED BY THE SHAREHOLDERS OF THE COMPANY
IN PRIOR YEARS BY APPROPRIATING FROM ACCUMULATED EARNINGS THE AMOUNT OF
PS.7,079,426. THIS RESERVE WAS USED IN 1999, 2000 AND 2003, IN THE AMOUNT
OF PS.291,082, PS.650,680 AND PS.482,836, RESPECTIVELY, IN CONNECTION WITH
THE REPURCHASE OF SHARES IN THOSE YEARS.
IN ACCORDANCE WITH THE MEXICAN SECURITIES LAW, ANY AMOUNT OF SHARES
REPURCHASED AND HELD BY THE COMPANY SHOULD BE RECOGNIZED AS A CHARGE TO
STOCKHOLDERS' EQUITY, AND ANY CANCELLATION OF SHARES REPURCHASED SHOULD BE
RECOGNIZED AS A REDUCTION OF THE COMPANY'S CAPITAL STOCK ISSUED FOR AN
AMOUNT PROPORTIONATE TO THE SHARES CANCELLED.
7. INTEGRAL COST OF FINANCING:
INTEGRAL COST OF FINANCING FOR THE NINE MONTHS ENDED SEPTEMBER 30,
CONSISTED OF:
2005 2004
--------------- --------------
INTEREST EXPENSE (1) Ps. 1,574,527 Ps. 1,430,428
INTEREST INCOME (727,870) (479,766)
FOREIGN EXCHANGE LOSS (GAIN), NET (2) 581,721 20,728
LOSS FROM MONETARY POSITION (3) 12,639 109,860
--------------- --------------
Ps. 1,441,017 Ps. 1,081,250
=============== ==============
(1) INCLUDES RESTATEMENT OF UDIS OF PS.18,278 AND PS.112,300 NET IN 2005
AND 2004, RESPECTIVELY.
(2) NET OF THE LOSS OF PS.304,117 IN 2005 AND THE GAIN OF PS.106,865 IN
2004 RESULTING FROM THE FOREIGN EXCHANGE RESULT ATTRIBUTABLE TO
CERTAIN LONG-TERM DEBT SECURITIES WHICH ARE HEDGED BY THE GROUP'S NET
INVESTMENT IN UNIVISION.
(3) THE GAIN OR LOSS FROM MONETARY POSITION REPRESENTS THE EFFECTS OF
INFLATION, AS MEASURED BY THE NPCI IN THE CASE OF MEXICAN COMPANIES,
OR THE GENERAL INFLATION INDEX OF EACH COUNTRY IN THE CASE OF FOREIGN
SUBSIDIARIES, ON THE MONETARY ASSETS AND LIABILITIES AT THE BEGINNING
OF EACH MONTH. INCLUDES MONETARY LOSS IN 2005 AND 2004 OF PS.69,759
AND PS.131,419, RESPECTIVELY, ARISING FROM TEMPORARY DIFFERENCES OF
NON-MONETARY ITEMS IN CALCULATING DEFERRED INCOME TAX.
8. DEFERRED TAXES:
THE DEFERRED INCOME TAX LIABILITY AS OF SEPTEMBER 30, WAS DERIVED
FROM:
2005 2004
----------------- ------------------
ASSETS:
ACCRUED LIABILITIES Ps. 575,526 Ps. 721,767
GOODWILL 853,023 862,441
TAX LOSS CARRYFORWARDS 996,397 1,730,744
ALLOWANCE FOR DOUBTFUL ACCOUNTS 415,095 352,227
CUSTOMER ADVANCES 1,383,508 1,640,341
----------------- ------------------
4,223,549 5,307,520
----------------- ------------------
LIABILITIES:
INVENTORIES (772,959) (1,585,517)
PROPERTY, PLANT AND EQUIPMENT - NET (1,299,159) (1,309,084)
OTHER ITEMS (1,226,516) (305,966)
INNOVA (1,568,519) (1,634,736)
----------------- ------------------
(4,867,153) (4,835,303)
----------------- ------------------
DEFERRED-INCOME TAXES OF MEXICAN COMPANIES (643,604) 472,217
DEFERRED TAX OF FOREIGN SUBSIDIARIES (306,172) (384,005)
ASSETS TAX 1,427,538 1,341,476
VALUATION ALLOWANCE (2,432,171) (2,749,443)
RECOVERABLE INCOME TAX FROM REPURCHASE OF SHARES 281,112 -
----------------- ------------------
DEFERRED INCOME TAX LIABILITY (1,673,297) (1,319,755)
EFFECT ON CHANGE OF INCOME TAX RATES
183,421 91,895
----------------- --------------------
DEFERRED TAX LIABILITY OF CONTINUING OPERATIONS Ps. (1,489,876) Ps.(1,227,860)
================= ====================
9. EXTRAORDINARY ITEMS:
NO EXTRAORDINARY ITEMS, AS DEFINED BY MEXICAN GAAP BULLETIN A-7
"COMPARABILITY," WERE RECOGNIZED IN INCOME FOR THE NINE MONTHS ENDED
SEPTEMBER 30, 2005 AND 2004.
10. DISCONTINUED OPERATIONS:
NO DISCONTINUED OPERATIONS, AS DEFINED BY MEXICAN GAAP BULLETIN C-15
"IMPAIRMENT IN THE VALUE OF LONG-LIVED ASSETS AND THEIR DISPOSAL," WERE
RECOGNIZED IN INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004.
11. CUMULATIVE EFFECT OF ACCOUNTING CHANGES:
EFFECTIVE JANUARY 1, 2005, IN CONNECTION WITH THE ADOPTION OF CERTAIN
PROVISIONS OF REVISED BULLETIN D-3 (SEE NOTE 1), THE GROUP RECOGNIZED IN
ITS CONSOLIDATED STATEMENT OF INCOME A CUMULATIVE LOSS EFFECT OF ACCOUNTING
CHANGE IN THE AMOUNT OF PS.179,533, NET OF A RELATED INCOME TAX BENEFIT OF
PS.77,095.
BEGINNING APRIL 1, 2004, THE GROUP ADOPTED THE GUIDELINES OF FIN 46,
"CONSOLIDATION OF VARIABLE INTEREST ENTITIES," AND BEGAN TO INCLUDE IN ITS
CONSOLIDATED FINANCIAL STATEMENTS THE ASSETS, LIABILITIES AND RESULTS OF
OPERATIONS OF INNOVA (SKY MEXICO). AS A RESULT OF THIS ACCOUNTING CHANGE,
THE GROUP RECOGNIZED AT APRIL 1, 2004, A CONSOLIDATED CUMULATIVE LOSS
EFFECT OF PS.1,044,378, NET OF INCOME TAX IN THE AMOUNT OF PS.309,164, IN
ITS CONSOLIDATED STATEMENT OF INCOME FOR THE NINE MONTHS ENDED SEPTEMBER
30, 2004, IN CONNECTION WITH INNOVA'S ACCUMULATED LOSSES NOT RECOGNIZED BY
THE GROUP IN 2001, 2002, 2003 AND THE FIRST QUARTER OF 2004.
12. QUARTERLY NET RESULTS (HISTORICAL AND RESTATED):
THE QUARTERLY NET RESULTS FOR THE FOUR QUARTERS ENDED SEPTEMBER 30,
2005, ARE AS FOLLOWS:
HISTORICAL NET RESULT (1) RESTATED NET RESULT
---------------------------------------- ----------------------------------------
INDEX AT END
QUARTER ACCUMULATED QUARTER OF PERIOD ACCUMULATED QUARTER
------------------------ --------------------- ----------------- ------------------ ------------------ -------------------
4(degree) / 04 Ps. 4,316,743 Ps. 1,837,436 112.550 Ps. 4,390,918 Ps. 1,869,009
1(degree) / 05 594,052 594,052 113.438 599,529 599,529
2(degree) / 05 1,871,159 1,277,060 113.447 1,888,261 1,288,732
3(degree) / 05 3,552,138 1,663,877 114.484 3,552,138 1,663,877
(1) AS REPORTED IN EACH QUARTER.
13. INFORMATION BY SEGMENTS:
INFORMATION BY SEGMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2005
AND 2004, WERE AS FOLLOWS:
TOTAL INTERSEGMENT CONSOLIDATED OPERATING
REVENUES REVENUES REVENUES INCOME (LOSS)
--------------- ----------------- ----------------- ------------------
2005:
TELEVISION BROADCASTING Ps. 12,527,333 Ps. 405,807 Ps. 12,121,526 Ps. 5,109,661
PAY TELEVISION NETWORKS 776,172 220,090 556,082 320,722
PROGRAMMING EXPORTS 1,362,254 - 1,362,254 472,068
PUBLISHING 1,725,237 30,754 1,694,483 277,169
PUBLISHING DISTRIBUTION 291,492 7,217 284,275 (13,908)
SKY MEXICO 4,359,204 23,070 4,336,134 1,159,561
CABLE TELEVISION 999,366 1,974 997,392 90,526
RADIO 233,215 38,491 194,724 12,097
OTHER BUSINESSES 975,795 50,180 925,615 (106,591)
ELIMINATIONS AND CORPORATE EXPENSES (777,583) (777,583) - (129,271)
---------------- ----------------- ----------------- ------------------
CONSOLIDATED TOTAL Ps. 22,472,485 Ps. - Ps. 22,472,485 Ps. 7,192,034
=============== ================= ================= ==================
2004:
TELEVISION BROADCASTING Ps. 12,022,076 Ps. 242,233 Ps. 11,779,843 Ps. 4,566,259
PAY TELEVISION NETWORKS 599,157 109,303 489,854 209,221
PROGRAMMING EXPORTS 1,450,266 - 1,450,266 537,337
PUBLISHING 1,478,961 1,460 1,477,501 258,144
PUBLISHING DISTRIBUTION 1,500,238 6,310 1,493,928 (30,806)
SKY MEXICO (1) 2,439,010 23,771 2,415,239 498,326
CABLE TELEVISION 847,578 2,376 845,202 90,079
RADIO 205,550 37,781 167,769 (2,205)
OTHER BUSINESSES 1,220,329 80,645 1,139,684 (193,689)
ELIMINATIONS AND CORPORATE EXPENSES (503,879) (503,879) - (117,691)
--------------- ----------------- ----------------- ------------------
CONSOLIDATED TOTAL Ps. 21,259,286 Ps. - Ps. 21,259,286 Ps. 5,814,975
=============== ================= ================= ==================
(1) BEGINNING APRIL 1, 2004, THE GROUP CONSOLIDATES THE FINANCIAL
STATEMENTS OF INNOVA (SKY MEXICO).
14. PREPAYMENT OF LONG-TERM DEBT:
DURING THE FIRST NINE MONTHS OF 2005, THE GROUP PREPAID CERTAIN
LONG-TERM NOTES PAYABLE IN THE AGGREGATE PRINCIPAL AMOUNT OF APPROXIMATELY
U.S.$5.4 MILLION, WHICH ORIGINALLY MATURED BETWEEN 2007 AND 2009.
IN MAY 2005, THE GROUP PREPAID ALL OF THE OUTSTANDING AMOUNTS OF A
PS.80.0 MILLION LONG-TERM LOAN, WHICH ORIGINALLY MATURED IN 2006.
IN JULY 2005, INNOVA ENTERED INTO A PS.1,012,000 LONG-TERM LOAN WITH
THE COMPANY, WITH A FIXED INTEREST RATE OF 10.55% PER ANNUM PAYABLE ON A
MONTHLY BASIS AND MATURITIES IN 2010 AND 2011. THE PROCEEDS OF THIS
INTERCOMPANY LOAN WERE USED BY INNOVA TO PREPAY ALL OF THE OUTSTANDING
AMOUNTS UNDER A SIMILAR CREDIT AGREEMENT WITH A MEXICAN BANK.
15. DISPOSAL OF INTEREST IN DTH TECHCO PARTNERS:
IN OCTOBER 2005, THE GROUP DISPOSED ITS 30% INTEREST IN DTH TECHCO
PARTNERS ("TECHCO") AND WAS RELEASED OF ANY GUARANTEE MADE IN CONNECTION
WITH CERTAIN TECHCO'S INDEBTEDNESS. AS A RESULT OF THIS DISPOSAL, IN THE
SECOND AND THIRD QUARTERS OF 2005, THE GROUP RECOGNIZED A PRETAX LOSS OF
APPROXIMATELY U.S.$15.3 MILLION (PS.164,714) AS OTHER EXPENSE, WHICH
PRIMARILY REPRESENTED THE CARRYING VALUE OF THE GROUP'S NET INVESTMENT IN
TECHCO, AS WELL AS THE AGGREGATE AMOUNT OF PRINCIPAL AND ACCRUED INTEREST
RELATED TO LONG-TERM LOANS MADE BY THE GROUP TO TECHCO.
------------------
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
ANALYSIS OF INVESTMENTS IN SHARES
ANNEX 3 CONSOLIDATED
Final Printing
% TOTAL AMOUNT
NUMBER OWNERSHIP (Thousands of Mexican Pesos)
COMPANY NAME (1) MAIN ACTIVITIES OF SHARES (2) ------------------------------
ACQUISITION BOOK
COST VALUE (3)
-------------------------------------------------------------------------------------------------------------------------------
SUBSIDIARIES
1 CORPORATIVO VASCO DE QUIROGA, PROMOTION AND 9,966,244 100.00 1,897,090 1,260,311
S.A. DE C.V. DEVELOPMENT OF
COMPANIES
2 CVQ ESPECTACULOS, S.A. DE C.V. PROMOTION AND 11,979,937 100.00 1,499,651 595,720
DEVELOPMENT OF
COMPANIES
3 DTH EUROPA, S.A. PROMOTION AND 1,080,182 90.25 780,220 122,979
DEVELOPMENT OF
COMPANIES
4 EDITORA FACTUM, S.A. DE C.V. PROMOTION AND 619,586,864 100.00 1,816,751 2,029,396
DEVELOPMENT OF
COMPANIES
5 EDITORIAL TELEVISA, S.A. DE C.V. PROMOTION AND 1,037,498 100.00 823,582 1,638,103
DEVELOPMENT OF
COMPANIES
6 FACTUM MAS, S.A. DE C.V. PROMOTION AND 5,442,040,701 100.00 4,756,067 (1,518,758)
DEVELOPMENT OF
COMPANIES
7 GRUPO DISTRIBUIDORAS INTERMEX, DISTRIBUTION OF BOOKS 349,470,905 100.00 822,778 314,179
S.A. DE C.V. AND MAGAZINES
8 CAMPUS AMERICA, S.A. DE C.V. PROMOTION AND 418,881,301 100.00 342,274 10,187,805
DEVELOPMENT OF
COMPANIES
9 PROMO-INDUSTRIAS PROMOTION AND 900,621 100.00 63,022 198,373
METROPOLITANAS, S.A. DE C.V. DEVELOPMENT OF
COMPANIES
10 SISTEMA RADIOPOLIS, S.A. DE C.V. COMMERCIALIZATION OF 76,070,313 50.00 764,739 225,992
RADIO PROGRAMMING
11 TELEPARABOLAS, S.L. MAINTENANCE OF 1,500 100.00 750 3,509
PARABOLIC DISHES
12 TELESISTEMA MEXICANO, S.A. DE C.V. COMMERCIALIZATION OF 169,773,895 100.00 12,806,397 23,904,394
TELEVISION
13 TELEVISA ARGENTINA, S.A. COMMERCIAL OPERATION 1,499,999 100.00 115,371 31,576
OF TELEVISION
14 TELEVISA JUEGOS, S.A. DE C.V. PROMOTION AND 65,249 100.00 65,200 72,699
DEVELOPMENT OF
COMPANIES
15 TELEVISION INDEPENDIENTE DE PROMOTION AND 32,989,789 99.98 2,864,972 5,064,933
MEXICO, S.A. DE C.V. DEVELOPMENT OF
COMPANIES
16 CAPITALIZED INTEGRAL COST OF 1 226,539
FINANCING, 1994
17 CAPITALIZED INTEGRAL COST OF 1 413,167
FINANCING, 1995
18 CAPITALIZED INTEGRAL COST OF 1 28,614
FINANCING, 1996
19 CAPITALIZED INTEGRAL COST OF 1 23,276
FINANCING, 1998
----------------------------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN SUBSIDIARIES 29,418,864 44,822,807
----------------------------------------------------------------------------------------------------------------------------------
ASSOCIATES
1 ARGOS COMUNICACION, S.A. DE C.V. OPERATION AND/OR 33,000,000 15.30 137,000 32,134
BROADCASTING OF T.V.
2 DIBUJOS ANIMADOS MEXICANOS PRODUCTION OF 1,735,560 49.00 4,384 743
DIAMEX, S.A. DE C.V. ANIMATED CARTOONS
3 EDITORIAL CLIO, LIBROS Y VIDEOS, PUBLISHING AND PRINTING 2,627,050 30.00 26,270 11,603
S.A. DE C.V. OF BOOKS AND
MAGAZINES.
4 ENDEMOL MEXICO, S.A. DE C.V. COMMERCIALIZATION OF 1,635,000 50.00 1,635 14,979
TELEVISION
PROGRAMMING
5 EN VIVO ESPECTACULOS, S. DE R.L. LIVE ENTERTAINMENT IN 2 100.00 4,898 1,241
DE C.V. MEXICO
6 MAS FONDOS, S.A. DE C.V. MUTUAL FUND DISTRIBUTION 99,758 46.55 99,758 14,990
COMPANY
7 METROS CUBICOS, S.A. DE C.V. PORTAL INTERNET 2,089,343 18.65 43,031 11,389
8 OCESA ENTRETENIMIENTO, S.A. DE LIVE ENTERTAINMENT IN 14,100,000 40.00 1,095,581 523,938
C.V. MEXICO
9 TELEVISORA DEL YAQUI, S.A. DE C.V. OPERATION AND/OR 4,124,986 15.00 412 6,262
BROADCASTING OF T.V.
10 UNIVISION COMMUNICATIONS, INC. BROADCASTING OF T.V. 30,187,534 9.56 5,602,976 5,797,516
SPANISH PROGRAMS
----------------------------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN ASSOCIATES 7,015,945 6,414,795
----------------------------------------------------------------------------------------------------------------------------------
OTHER PERMANENT INVESTMENTS 181,819
----------------------------------------------------------------------------------------------------------------------------------
TOTAL 36,434,809 51,419,421
----------------------------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
ANNEX 5
CREDIT BREAK DOWN
(Thousands of Mexican Pesos)
CONSOLIDATED
Final Printing
Denominated
In Pesos
Credit Type / Institution Amortization Interest Until 1 More Than
Date Rate Year 1 Year
-------------------------------------------------------------------------------------------------------
BANKS
-------------------------------------------------------------------------------------------------------
OTHER FINANCIAL ENTITIES
BANAMEX, S.A. 4/23/2012 10.35 2,000,000
BANAMEX, S.A. 5/21/2009 9.70 1,162,460
BANAMEX, S.A. 5/1/2008 8.93 120,000 600,000
BANK OF AMERICA 3/31/2010 4.23
SUNTRUST BANK MIAMI, NATIONAL 4/1/2008 4.50
LEASING DE COLOMBIA 6/28/2009 13.00
CORPORACION FINANCIERA DE ARRENDAMIENTO 7/31/2006 17.11 676
BANCO DE BILBAO VIZCAYA, S.A. 1/30/2006 5.86
LEASING DE OCCIDENTE 4/29/2007 17.62
SANTANDER CENTRAL HISPANO LEASING, S.A. 1/24/2006 14.74
-------------------------------------------------------------------------------------------------------
TOTAL BANKS 120,676 3,762,460
-------------------------------------------------------------------------------------------------------
STOCK EXCHANGE
PRIVATE PLACEMENTS
-------------------------------------------------------------------------------------------------------
UNSECURED DEBT
HOLDERS 5/13/2006 12.49
HOLDERS 9/13/2011 8.41
HOLDERS 3/11/2032 8.94
HOLDERS 3/18/2025 6.97
HOLDERS 9/19/2013 9.86
UDI DENOMINATED-NOTES 4/13/2007 8.15 927,917
-------------------------------------------------------------------------------------------------------
TOTAL STOCK EXCHANGE - 927,917
-------------------------------------------------------------------------------------------------------
SUPPLIERS
-------------------------------------------------------------------------------------------------------
VARIOUS 9/30/2006 876,432
-------------------------------------------------------------------------------------------------------
TOTAL SUPPLIERS 876,432 -
OTHER CURRENT LIABILITIES
AND OTHER CREDITS
-------------------------------------------------------------------------------------------------------
VARIOUS 9/7/2015 2,192,283 89,264
-------------------------------------------------------------------------------------------------------
TOTAL OTHER CURRENT LIABILITIES
AND OTHER CREDITS 2,192,283 89,264
-------------------------------------------------------------------------------------------------------
TOTAL 3,189,391 4,779,641
-------------------------------------------------------------------------------------------------------
Amortization of Credits in Foreign Currency With National Entities (Thousands of $)
-----------------------------------------------------------------------------------
Time Interval
-----------------------------------------------------------------------------------
Credit Type / Institution Current Until 1 Until 2 Until 3 Until 4 Until 5
Year Year Year Year Year Year
-----------------------------------------------------------------------------------------------------------------------------------
BANKS
-----------------------------------------------------------------------------------------------------------------------------------
OTHER FINANCIAL ENTITIES
BANAMEX, S.A.
BANAMEX, S.A.
BANAMEX, S.A.
BANK OF AMERICA
SUNTRUST BANK MIAMI, NATIONAL
LEASING DE COLOMBIA
CORPORACION FINANCIERA DE ARRENDAMIENTO
BANCO DE BILBAO VIZCAYA, S.A.
LEASING DE OCCIDENTE
SANTANDER CENTRAL HISPANO LEASING, S.A.
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL BANKS - - - - - -
-----------------------------------------------------------------------------------------------------------------------------------
STOCK EXCHANGE
PRIVATE PLACEMENTS
-----------------------------------------------------------------------------------------------------------------------------------
UNSECURED DEBT
HOLDERS
HOLDERS
HOLDERS
HOLDERS
HOLDERS
UDI DENOMINATED-NOTES
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL STOCK EXCHANGE - - - - - -
-----------------------------------------------------------------------------------------------------------------------------------
SUPPLIERS
-----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 1,041,611
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL SUPPLIERS - 1,041,611 - - - -
-----------------------------------------------------------------------------------------------------------------------------------
OTHER CURRENT LIABILITIES
AND OTHER CREDITS
-----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 0 326,869 228,872 0 0 0
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL OTHER CURRENT LIABILITIES
AND OTHER CREDITS - 326,869 228,872 - - -
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL - 1,368,480 228,872 - - -
-----------------------------------------------------------------------------------------------------------------------------------
Amortization of Credits in Foreign Currency With Foreign Entities (Thousands of $)
-----------------------------------------------------------------------------------
Time Interval
-----------------------------------------------------------------------------------
Credit Type / Institution Current Until 1 Until 2 Until 3 Until 4 Until 5
Year Year Year Year Year Year
-----------------------------------------------------------------------------------------------------------------------------------
BANKS
-----------------------------------------------------------------------------------------------------------------------------------
OTHER FINANCIAL ENTITIES
BANAMEX, S.A.
BANAMEX, S.A.
BANAMEX, S.A.
BANK OF AMERICA 136 404 539 539 539 27,442
SUNTRUST BANK MIAMI, NATIONAL 4,306 4,306 4,306
LEASING DE COLOMBIA 145 338 109 114 73
CORPORACION FINANCIERA DE ARRENDAMIENTO
BANCO DE BILBAO VIZCAYA, S.A. 67 363
LEASING DE OCCIDENTE 41 123 187
SANTANDER CENTRAL HISPANO LEASING, S.A. 15 4
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL BANKS 404 5,538 5,141 4,959 612 27,442
-----------------------------------------------------------------------------------------------------------------------------------
STOCK EXCHANGE
PRIVATE PLACEMENTS
-----------------------------------------------------------------------------------------------------------------------------------
UNSECURED DEBT
HOLDERS 57,517
HOLDERS 812,585
HOLDERS 3,229,500
HOLDERS 6,459,000
HOLDERS 3,229,500
UDI DENOMINATED-NOTES
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL STOCK EXCHANGE - 57,517 - - - 13,730,585
-----------------------------------------------------------------------------------------------------------------------------------
SUPPLIERS
-----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 382,071
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL SUPPLIERS - 382,071 - - - -
-----------------------------------------------------------------------------------------------------------------------------------
OTHER CURRENT LIABILITIES
AND OTHER CREDITS
-----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 0 113,883 199,434 93,574 104,921 940,430
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL OTHER CURRENT LIABILITIES
AND OTHER CREDITS - 113,883 199,434 93,574 104,921 940,430
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL 404 559,009 204,575 98,533 105,533 14,698,457
-----------------------------------------------------------------------------------------------------------------------------------
NOTES
THE EXCHANGE RATES FOR THE CREDITS DENOMINATED IN FOREIGN CURRENCY
WERE AS FOLLOWS :
$ 10.7650 PESOS PER U.S. DOLLAR
0.0047 PESOS PER COLOMBIAN PESO
12.9524 PESOS PER EURO
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
MONETARY FOREIGN CURRENCY POSITION
(Thousands of Mexican Pesos)
ANNEX 6 CONSOLIDATED
Final Printing
DOLLARS (1) OTHER CURRENCIES (1) TOTAL
TRADE BALANCE THOUSANDS THOUSANDS THOUSANDS THOUSANDS THOUSANDS
OF DOLLARS OF PESOS OF DOLLARS OF PESOS OF PESOS
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS 853,050 9,183,083 46,870 504,556 9,687,639
LIABILITIES POSITION 1,573,636 16,940,192 32,791 352,995 17,293,187
SHORT-TERM LIABILITIES POSITION 149,236 1,606,526 32,577 350,691 1,957,217
LONG-TERM LIABILITIES POSITION 1,424,400 15,333,666 214 2,304 15,335,970
-----------------------------------------------------------------------------------------------------------------------------------
NET BALANCE (720,586) (7,757,109) 14,079 151,561 (7,605,548)
NOTES
(1) THE EXCHANGE RATES USED FOR TRANSLATION WERE AS FOLLOWS :
$ 10.7650 PESOS PER U.S. DOLLAR
12.9524 PESOS PER EURO
3.6866 PESOS PER ARGENTINEAN PESO
0.0199 PESOS PER CHILEAN PESO
0.0047 PESOS PER COLOMBIAN PESO
3.2571 PESOS PER PERUVIAN NUEVO SOL
19.0770 PESOS PER POUNDS STERLING
10.7650 PESOS PER ECUADORIAN SUCRE
10.7650 PESOS PER PANAMANIAN BALBOA
0.0050 PESOS PER VENEZUELAN BOLIVAR
THIS INFORMATION IS REPRESENTED ON A CONSOLIDATED BASIS AND INCLUDES,
ACCORDINGLY, INFORMATION OF FOREIGN SUBSIDIARIES.
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
RESULT FROM MONETARY POSITION (1)
(Thousands of Mexican Pesos)
ANNEX 7 CONSOLIDATED
Final Printing
(ASSET) LIABILITY MONTHLY
MONTH MONETARY MONETARY MONETARY MONTHLY PROFIT
ASSETS LIABILITIES POSITION INFLATION AND (LOSS)
------------------------------------------------------------------------------------------------------------------------
JANUARY 32,839,494 36,654,700 3,815,206 0.00 134
FEBRUARY 27,532,860 29,649,166 2,116,306 0.00 7,049
MARCH 26,733,753 28,449,192 1,715,439 0.00 7,731
APRIL 27,210,070 27,249,798 39,728 0.00 141
MAY 24,173,758 31,408,680 7,234,922 0.00 (18,174)
JUNE 22,699,708 30,545,054 7,845,346 0.00 (7,524)
JULY 23,155,578 29,832,858 6,677,280 0.00 26,128
AUGUST 21,558,758 28,896,515 7,337,757 0.00 8,761
SEPTEMBER 18,706,353 26,219,364 7,513,011 0.00 37,550
RESTATEMENT: - 149
CAPITALIZATION: - -
FOREIGN CORP.: - (4,700)
OTHER - (69,884)
------------------------------------------------------------------------------------------------------------------------
TOTAL (12,639)
------------------------------------------------------------------------------------------------------------------------
NOTES
THE AMOUNT REFLECTED IN "OTHER" INCLUDES PS. 69,759 FROM MONETARY
POSITION DERIVED FROM DEFERRED TAXES, WHICH WAS CLASSIFIED IN THE
DEFERRED INCOME TAX PROVISION IN ACCORDANCE WITH THE GUIDELINES
PROVIDED BY BULLETIN D-4 FOR DEFERRED TAXES.
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
CONVENANTS ON BONDS AND MEDIUM TERM NOTES LISTED IN STOCK MARKET
ANNEX 8 CONSOLIDATED
Final Printing
FINANCIAL RESTRICTIONS BASED IN ISSUED DEBT AND/OR TITLE
-------------------------------------------------------------------------------
THE AGREEMENTS OF THE U.S.$300 MILLION (OF WHICH APPROXIMATELY
U.S.$75.5 MILLION ARE OUTSTANDING AS OF SEPTEMBER 30, 2005), U.S.$600
MILLION AND U.S.$300 MILLION SENIOR NOTES ISSUED BY GRUPO TELEVISA,
S.A. WITH MATURITY IN 2011, 2025 AND 2032, RESPECTIVELY, CONTAIN
CERTAIN COVENANTS THAT LIMIT THE ABILITY OF THE COMPANY AND ITS
SUBSIDIARIES ENGAGED IN TELEVISION OPERATIONS TO INCUR OR ASSUME
LIENS, PERFORM SALE AND LEASEBACK TRANSACTIONS, AND CONSUMMATE CERTAIN
MERGERS, CONSOLIDATIONS OR SIMILAR TRANSACTIONS.
THE AGREEMENT OF THE U.S.$300 MILLION SENIOR NOTES ISSUED BY INNOVA,
S. DE R.L. DE C.V. ("INNOVA") WITH MATURITY IN 2013, CONTAINS CERTAIN
COVENANTS THAT LIMIT THE ABILITY OF INNOVA AND ITS RESTRICTED
SUBSIDIARIES WITH RESPECT TO INDEBTEDNESS, LIENS, SALES AND
LEASEBACKS, RESTRICTED PAYMENTS, ASSET SALES, AND CERTAIN MERGERS,
CONSOLIDATIONS AND SIMILAR TRANSACTIONS.
ACTUAL SITUATION OF FINANCIAL RESTRICTIONS
-------------------------------------------------------------------------------
AT SEPTEMBER 30, 2005, THE GROUP WAS IN COMPLIANCE WITH THE FINANCIAL
RESTRICTIONS OF THE CONTRACTS RELATED TO THE LONG-TERM SENIOR NOTES
DESCRIBED ABOVE.
--------------------------------------
C.P. JORGE LUTTEROTH ECHEGOYEN
CONTROLLER, VICE-PRESIDENT
MEXICO, D.F. OCTOBER 24, 2005
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
PLANTS, COMMERCE CENTERS OR DISTRIBUTION CENTERS
ANNEX 9 CONSOLIDATED
Final Printing
PLANT OR CENTER ECONOMIC ACTIVITY PLANT UTILIZATION
CAPACITY (1) (%)
---------------------------------------------------------------------------------------------------------------------------
TELEVISION: 0 0
CORPORATIVO SANTA FE HEADQUARTERS 0 0
TELEVISA SAN ANGEL PRODUCTION AND BROADCASTING PROGRAMMING. 0 0
TELEVISA CHAPULTEPEC PRODUCTION AND BROADCASTING PROGRAMMING. 0 0
REAL ESTATE LAND AND UNOCCUPIED, BUILDING, 0 0
PARKING LOTS, ADMINISTRATIVE 0 0
OFFICES, RADIO ANTENNAS, 0 0
TELEVISION STATIONS FACILITIES. 0 0
TRANSMISSION STATIONS BROADCASTER STATIONS. 0 0
PUBLISHING: 0 0
EDITORIALS ADMINISTRATION, SALES, PRODUCTION, 0 0
STORAGE AND DISTRIBUTION OF 0 0
MAGAZINES AND NEWSPAPERS. 0 0
RADIO: 0 0
SISTEMA RADIOPOLIS, S.A. DE C.V. BROADCASTER STATIONS. 0 0
CABLE TELEVISION: 0 0
CABLEVISION, S.A. DE C.V. CABLE TELEVISION, SIGNAL CONDUCTION 0 0
AND TRANSMISSION EQUIPMENT. 0 0
OTHER BUSINESSES: 0 0
IMPULSORA DEL DEPORTIVO - SOCCER, SOCCER TEAMS, TRAINING 0 0
NECAXA, S.A. DE C.V. AND CLUB FACILITIES, ADMINISTRATIVE OFFICES AND 0 0
DE FUTBOL AMERICA, S.A. DE C.V. THE AZTECA STADIUM. 0 0
0 0
0 0
0 0
NOTES
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
MAIN RAW MATERIALS
ANNEX 10 CONSOLIDATED
Final Printing
MAIN MAIN DOM. COST
DOMESTIC SUPPLIERS FOREIGN SUPPLIERS SUBST. PRODUCTION
(%)
-----------------------------------------------------------------------------------------------------------------------------------
PROGRAMS AND FILMS ANIME CREATIVE
CORPORATION 1.23
AMERICA FILMS,
S.A. DE C.V. 0.03
CIMA FILMS,
S.A. DE C.V. 0.08
CINEMAS LUMIERE,
S.A. DE C.V. 0.07
CINEMATOGRAFICA
CALDERON, S.A. 1.34
CINEMATOGRAFICA
FILMEX, S.A. 0.07
CINEMATOGRAFICA
JALISCO, S.A. 0.12
CINEMATOGRAFICA
RODRIGUEZ, S.A. 0.42
CHURUBUSCO,
S.A. DE C.V. 0.19
DIANA INTERNACIO-
NAL FILMS, S.A. 0.16
DIRSOL, S.A. 0.10
DISTRIBUIDORA RO-
MARI, S.A. DE C.V. 3.45
GRUPO GALINDO,
S.A. DE C.V. 0.14
GUSSI, S.A. DE C.V. 4.93
HITS MOVIE VIDEO,
S.A. DE C.V. 0.06
INSTITUTO MEXICA-
NO DE CINE, S.A. 0.16
MICH AND RO
ENTERTAINMENT,
S.A. DE C.V. 0.20
NUVISION, S.A. 1.13
OLALLO RUBIO
GRANADO 0.08
ORO FILMS,
S.A. DE C.V. 0.24
PANAMA INTER-
NATIONAL FILMS 0.04
PELICULAS CLA-
SICAS, S.A. 0.05
PELICULAS NACIO-
NALES, S.A. 0.04
PELICULAS RODRI-
GUEZ, S.A. 1.05
PELICULAS Y VI-
DEOS INTERNACIO-
NALES, S.A. 0.16
PRODUCCIONES
AGUILA, S.A. 0.26
PRODUCCIONES
GAER, S.A. 0.03
PRODUCCIONES
GALUBI, S.A. 0.09
PRODUCCIONES
GONZALO ELVIRA 0.05
PRODUCCIONES
MATOUK, S.A. 0.37
PRODUCCIONES
POTOSI, S.A. 0.07
PRODUCCIONES
TOBARI, S.A. 0.05
PROMOCIMEX,
S.A. DE C.V. 0.06
QUALITY FILMS,
S.A. DE C.V. 0.12
ROBERTO GINART
AVALOS 0.07
SECINE, S.A. DE C.V. 0.13
SHOW CINEMA,
S.A. DE C.V. 0.13
VIDEO PRODUCCIO-
NES TIJUANA, S.A. 0.05
VIDEOVISA , S.A.
DE C.V. 0.04
OTHER 0.81
PROGRAMS AND FILMS 4KIDS ENTERTAIN-
MENT NO 0.07
ALFRED HABER
DISTRIBUTION, INC. NO 0.63
ALLIANCE ATLAN-
TIS INTERNATIONAL NO 1.49
ALLIANCE ATLAN-
TIS PICTURE NO 1.01
AMERICA PRO-
DUCCIONES, S.A. NO 4.29
BAYWOOD
USA,LLC. NO 0.06
BBC WORDLWIDE
AMERICA, INC. NO 0.15
BELLEVILLE
INVESTMENT,
LTD. NO 0.04
BETAFILM GMBH
& CO. NO 1.01
BEVERLY HILLS
ENTERTAINMENT NO 0.12
BUENAVISTA
INTERNATIONAL,
INC. NO 0.10
CANAL + DISTRIBU-
TION NO 0.13
CARSEY WERNER
DISTRIBUTION,
INC. NO 0.31
CBS BROADCAST
INTERNATIONAL NO 1.67
CCC OF AMERICA,
INC. NO 0.09
CINAR FILMS, INC. NO 0.10
CONSTELLATION
PICTURES, INC. NO 4.43
CPT HOLDINGS,
INC. NO 4.04
CROMOSOMA,
S.A. NO 0.35
CROWN MEDIA
DIC ENTERTAIN
MENT, CORP. NO 0.67
DORLING KINDER-
SLEY VISION NO 0.17
DREAMWORKS NO 4.23
ENTERTAINMENT
RIGHTS DIST NO 0.33
FIREWORKS INTER-
NATIONAL NO 1.24
FREMANTLE MEDIA
LIMITED NO 0.12
HASBRO INTERNA-
TIONAL,INC. NO 0.35
HEARTS ENTER-
TAINMENT, INC. NO 1.13
HIGHPOINT PRO-
DUCTIONS, INC. NO 0.45
INDEPENDENT
INTERNATIONAL
T.V. INC. NO 5.99
KUSHNER-LOCKE
INTERNATIONAL NO 0.41
LUCAS FILM,
LTD. NO 3.15
LE MONDE
ENTERTAINMENT,
INC. NO 0.39
MENDELSON
PAWS PRODUC-
TIONS, INC. NO 0.24
MGM/UA TELECOM-
MUNICATIONS, INC. NO 6.93
MORGAN CREEK
INTERNATIONAL NO 1.01
MOVIEMEX INTER-
NATIONAL, INC. NO 0.10
MTV NETWORKS
A DIVISION OF
VIACOM INT. NO 1.75
MULTIFILMS,
B.V. NO 2.01
MYRIAM BALLES-
TEROS PRODUC-
TIONS, INC. NO 0.14
NELVANA DKC,
INC. NO 0.15
NELVANA INTER-
NATIONAL NO 0.57
NEW LATIN
IMAGE CORPO-
RATION, INC. NO 0.18
NU IMAGE
INCORPORATED NO 0.42
PALOMA PRO-
DUCTIONS, LLC. NO 7.60
PARAMOUNT
PICTURES ,
CORP. NO 6.83
PEAKVIEWING
TRANSATLANTIC NO 0.09
SALSA ENTER-
TAINMENT, INC. NO 1.78
SESAME
WORKSHOP NO 0.48
SHOGAKUKAN
PRODUCTIONS,
INC. NO 0.08
SONY CORPORA-
TION OF AMERICA NO 18.45
SOUTHERN
STAR, INC. NO 0.19
STUDIO CANAL
IMAGE NO 0.75
TELESCREEN
DISTRIBUTION,
INC. NO 0.14
TELEVIX ENTER-
TAINMENT, S.A. NO 0.10
TEPUY USA COR-
PORATION NO 0.73
TF1 INTERNA-
TIONAL, INC. NO 0.22
TOEI ANIMATION
CO., LTD NO 1.14
TOKYO BROAD-
CASTING SYSTEM NO 0.21
TOP ENTERTAIN-
MENT PRODUC-
TIONS, INC. NO 0.14
TV LOONLAND
AG NO 0.11
TWENTIETH CEN-
TURY FOX, INC. NO 12.10
UNIVERSAL
STUDIOS INTER-
NATIONAL, B.V. NO 12.28
VENEVISION IN-
TERNACIONAL,
INC. NO 0.25
VENTURA FILM
DISTRIBUTORS BV NO 0.74
VIACON LATINO
AMERICANA, INC. NO 0.09
WARNER BROS.
INTERNATIONAL
TELEVISION NO 24.96
WELLSPRING
MEDIA, INC. NO 0.13
WHILAND COMPANY NO 0.96
ZACH MOTION
PICTURES, INC. NO 0.19
OTHER 1.17
COAXIAL CABLE RG
MAYA 60 NACIONAL DE
CONDUCTORES,
S.A. DE C.V. 4.85
IDENTIFICATION PLAQUE RIVANDI, S.A. DE C.V. 0.02
CABLEMODEMS MOTOROLA, INC. NO 4.41
HILTI BOLT HILTI MEXICANA,
S.A. DE C.V. NO 0.02
SWITCH CABLENETWORK
MEXICO NO 0.02
TWO OUTLET DEVICE A TVC CORPORATION YES 0.03
DECODER MOTOROLA, INC. NO 72.35
COUCHE PAPER PAPELERA MOHGA-
BBA, S.A. 0.45
SUMINISTROS Y
SERVICIOS BROM 2.04
ABASTECEDORA
LUMEN 0.04
PRODUCTORA
COMERCIALIZA-
DORA Y EDITORA 0.50
OFFSET MULTICO-
LOR, S.A. 1.84
PROCESOS INDUS-
TRIALES DE PAPEL 0.18
IMPRESOS MOINO, 0.12
BULKLEY DUNTON 1.78
KIMBERLY CLARK 0.17
PAPEL, S.A. 0.07
COUCHE PAPER STORAM ENSON YES 6.79
BULKLEY DUNTON YES 16.01
M REAL YES 1.60
MYLLLIKOSKI
PAPEL YES 5.24
TEMBEC, INC. YES 0.01
BULKLEY DUNTON YES 12.62
FINNIPAP YES 8.30
WEB SOURCE YES 0.01
BOWATER, INC. YES 1.86
NORKE CANADA YES 0.04
UPM YES 0.18
PAPER AND IMPRESSION PRODUCTORA CO-
MERCIALIZADORA Y
EDITORES DE LI-
BROS , S.A. DE C.V. 5.34
OFFSET
MULTICOLOR 9.97
IMPRESOS MOINO 1.36
PROCESOS IND
DE PAPEL, S.A. 2.07
BARNICES PARA
EDICIONES DE
LIBROS, S.A. 0.47
SERVICIOS PRO-
FESIONALES
DE IMPRESION,
S.A. DE C.V. 0.96
IMPRESOS EN
OFFSET Y SERI-
GRAFIA, S.A. 0.11
LORI DER, S.A.
DE C.V. 0.02
LITOGRAFIA
MAGNO GRAFT,
S.A. 0.23
LOVA IMPRE-
SORES, S.A. 0.03
GRAFICA LA
PRENSA, S.A. 0.14
QUEBECOR
WORDL MEXICO 0.36
REPRODUCCIO-
NES FOTOME -
CANICAS 0.44
PAPER AND IMPRESSION QUEBECOR
CHILE, S.A. YES 3.60
QUEBECOR
WORLD, INC. YES 0.71
GRUPO OP GRA-
FICAS, S.A. YES 0.63
PRINTER COLOM-
BINA, S.A. YES 0.03
ST. IVES, INC. YES 8.62
BEST LITHO YES 0.31
EDITORES, S.A. YES 0.17
RR DONELLY YES 2.54
QUAD GRAPHICS YES 4.56
PRO-OFFSET EDI-
TORIAL, LTDA. YES 0.18
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11
DOMESTIC SALES
CONSOLIDATED
Final Printing
TOTAL PRODUCTION NET SALES MARKET
------------------------------ ------------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT SHARE
(%)
------------------------------------------------------------------------------------------------------------------------
INTERSEGMENT ELIMINATIONS (770,830)
TELEVISION:
PROGRAMMING HALF HOURS PRODUCED
(DOMESTIC) 86.000
ADVERTISED TIME SOLD (HALF HOURS) 5 12,084,762
OTHER INCOME 86,031
PROGRAMMING FOR PAY TELEVISION:
SALE OF SIGNALS 504,533
ADVERTISED TIME SOLD 77,625
PUBLISHING:
MAGAZINE CIRCULATION 115,651 993,779 47,093 584,268
PUBLISHING 497,898
OTHER INCOME 18,269
PUBLISHING DISTRIBUTION: 10,585 142,778
SKY MEXICO
DTH BROADCAST SATELLITE 4,081,635
PAY PER VIEW 246,822
CHANNEL COMMERCIALIZATION 30,747
CABLE TELEVISION:
ANALOGIC AND DIGITAL SERVICE 937,353
SERVICE INSTALLATION 23,334
PAY PER VIEW 1,924
CHANNEL COMMERCIALIZATION 15,907
OTHER 20,848
RADIO:
ADVERTISED TIME SOLD 233,215
OTHER BUSINESSES:
DISTRIBUTION, RENTALS, AND SALE
OF MOVIE RIGHTS 378,629
SPECIAL EVENTS AND SHOW PROMOTION 363,378
INTERNET SERVICES 225,635
--------------------------------------------------------------------------------------------------------------------------
TOTAL 993,779 19,784,761
--------------------------------------------------------------------------------------------------------------------------
MAIN
-------------------------------------------------------------------------------------------
MAIN PRODUCTS TRADEMARKS CUSTOMERS
------------------------------------------------------------------------------------------------------------------------------------
INTERSEGMENT ELIMINATIONS
TELEVISION:
PROGRAMMING HALF HOURS PRODUCED
(DOMESTIC)
ADVERTISED TIME SOLD (HALF HOURS) BIMBO, S.A. DE C.V.
COMPANIA PROCTER & GAMBLE DE MEXICO, S. DE R. L. DE C.V.
DANONE DE MEXICO, S.A. DE C.V.
PEPSI COLA MEXICANA, S. DE R.L. DE C.V.
SECRETARIA DE HACIENDA Y CREDITO PUBLICO
UNILEVER DE MEXICO, S. DE R.L. DE C.V.
COMPANIA CERVECERA DE ZACATECAS, S.A. DE C.V.
CADBURY ADAMS DE MEXICO, S. DE R.L. DE C.V.
NOVARTIS FARMACEUTICA, S.A. DE C.V.
S.C. JOHNSON AND SON, S.A. DE C.V.
GOBIERNO DEL ESTADO DE MEXICO
PEGASO PCS, S.A. DE C.V.
BARCEL, S.A. DE C.V.
THE COCA-COLA EXPORT CORPORATION
SUCURSAL EN MEXICO
HENKEL CAPITAL, S.A. DE C.V.
OTHER INCOME VARIOUS
PROGRAMMING FOR PAY TELEVISION:
SALE OF SIGNALS OPERADORA MEGACABLE, S.A. DE C.V.
T.V. CABLE, S.A. DE C.V.
TELECABLE CENTRO OCCIDENTE, S.A. DE C.V.
TELEVISION INTERNACIONAL, S.A. DE C.V.
SERVICIOS DE COMUNICACION POR CABLE, S.A. DE C.V.
TELEVICABLE DEL CENTRO, S.A. DE C.V.
T.V. CABLE DE PROVINCIA, S.A. DE C.V.
CABLE OPERADORA DE LA COMARCA, S.A. DE C.V.
CABLENET INTERNATIONAL, S.A.DE C.V.
T.V. POR CABLE DEL NORTE DE SONORA, S.A. DE C.V.
ADVERTISED TIME SOLD BANCO MERCANTIL DEL NORTE, S.A.
COMPANIA CERVECERA DE ZACATECAS, S.A. DE C.V.
VPN DE MEXICO, S.A. DE C.V.
PROCTER & GAMBLE MEXICO, S DE R.L. DE C.V.
CONTROL MEDIA, S.A. DE C.V.
COMBE DE MEXICO, S. DE R.L. DE C.V.
MARCAS NESTLE, S.A. DE C.V.
CADBURY ADAMS DE MEXICO, S. DE R.L. DE C.V.
LINEAS AEREAS ZACATECAS, S.A. DE C.V.
LANETRO MOBILE MEXICO, S.A. DE C.V.
PUBLISHING:
MAGAZINE CIRCULATION TV Y NOVELAS MAGAZINE, GENERAL PUBLIC (AUDIENCE)
TELEGUIA MAGAZINE, DEALERS
VANIDADES MAGAZINE COMMERCIAL CENTERS (MALLS)
COSMOPOLITAN MAGAZINE
BIOGRAPHICAL BOOKS
SOCCERMANIA MAGAZINE
TU MAGAZINE
MEN'S HEALTH MAGAZINE
CARAS MAGAZINE
MUY INTERESANTE MAGAZINE
BIG BANG MAGAZINE
PUBLISHING FRABEL, S.A. DE C.V.
KIMBERLY CLARK DE MEXICO, S.A. DE C.V.
COMPANIA PROCTER & GAMBLE DE MEXICO, S. DE R.L DE C.V.
UNILEVER DE MEXICO, S. DE R.L. DE C.V.
TELEFONOS DE MEXICO, S.A.DE C.V.
FABRICAS DE CALZADO ANDREA, S.A. DE C.V.
ENFASYS DIGITAL, S.A. DE C.V.
OTHER INCOME VARIOUS
PUBLISHING DISTRIBUTION: MAGAZINE: GENERAL PUBLIC (AUDIENCE)
"MAESTRA DE PREESCOLAR" DEALERS
"SEVENTEEN EN ESPANOL" COMMERCIAL CENTERS (MALLS)
"CAR AND DRIVER"
"REVISTA DEL CONSUMIDOR"
"ENTREPRENEUR"
SKY MEXICO
DTH BROADCAST SATELLITE SKY SUBSCRIBERS
PAY PER VIEW
CHANNEL COMMERCIALIZATION BANCO MERCANTIL DEL NORTE, S.A.
TELEFONOS DE MEXICO, S.A. DE C.V.
COMPANIA CERVECERA DE ZACATECAS, S.A. DE C.V.
DAIMLERCHRYSLER DE MEXICO, S.A. DE C.V.
VPN DE MEXICO, S.A. DE C.V.
CABLE TELEVISION:
ANALOGIC AND DIGITAL SERVICE CABLEVISION SUBSCRIBERS
SERVICE INSTALLATION VPN DE MEXICO, S.A. DE C.V.
PAY PER VIEW BANCO MERCANTIL DEL NORTE, S.A.
CHANNEL COMMERCIALIZATION SERCOMGLOB COMUNICACIONES, S.A. DE C.V.
OTHER CONTROL MEDIA, S.A. DE C.V.
COMPANIA CERVECERA DE ZACATECAS, S.A. DE C.V.
MUEBLERIA FREY, S.A. DE C.V.
RADIO:
ADVERTISED TIME SOLD INSTITUTO MEXICANO DEL SEGURO SOCIAL
PARTIDO REVOLUCIONARIO INSTITUCIONAL DEL ESTADO DE MEXICO
ORGANIZACION RADIOFONICA DE BAJA CALIFORNIA, S.A. DE C.V.
PROPIMEX, S.A. DE C.V.
ARENA COMUNICATIONS, S.A. DE C.V.
UNILEVER DE MEXICO, S DE R.L. DE C.V.
PEGASO PCS, S.A. DE C.V.
COOPERATIVA LA CRUZ AZUL, S.C.L.
BBVA BANCOMER, S.A.
MARCAS NESTLE, S.A. DE C.V.
OTHER BUSINESSES:
DISTRIBUTION, RENTALS, AND SALE
OF MOVIE RIGHTS CINEPOLIS DEL PAIS, S.A. DE C.V.
CINEMAS DE LA REPUBLICA, S.A. DE C.V.
OPERADORA DE CINEMAS, S.A. DE C.V.
MULTIMEDIOS CINEMAS, S.A. DE C.V.
CINEMARK DE MEXICO, S.A. DE C.V.
COYOACAN FILMS, S.A. DE C.V.
GENERAL PUBLIC (AUDIENCE)
SPECIAL EVENTS AND SHOW PROMOTION AMERICA GENERAL PUBLIC (AUDIENCE)
REAL SAN LUIS FEDERACION MEXICANA DE FUTBOL, A.C.
INTERNET SERVICES ESMAS.COM RADIOMOVIL DIPSA, S.A. DE C.V.
PEGASO PCS, S.A. DE C.V.
IUSACELL, S.A. DE C.V.
OPERADORA UNEFON, S.A. DE C.V.
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11A
FOREIGN SALES
CONSOLIDATED
Final Printing
TOTAL PRODUCTION NET SALES
------------------------------ -----------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT DESTINATION
--------------------------------------------------------------------------------------------------------- -------------------------
INTERSEGMENT ELIMINATIONS (6,753)
TELEVISION BROADCASTING:
ADVERTISING TIME SOLD 314,436 UNITED STATES OF AMERICA
OTHER INCOME 42,104 UNITED STATES OF AMERICA
PROGRAMMING FOR PAY TELEVISION:
SALES OF SIGNALS 194,014 SPAIN
ARGENTINA
CHILE
GUATEMALA
COLOMBIA
UNITED STATES OF AMERICA
PROGRAMMING EXPORT:
PROGRAMMING AND ROYALTIES 1,362,254 UNITED STATES OF AMERICA
CENTRAL AMERICA
CARIBBEAN
EUROPE
SOUTH AMERICA
AFRICA
ASIA
PUBLISHING:
MAGAZINE CIRCULATION 22,978 330,871 GUATEMALA AND COSTA RICA
UNITED STATES OF AMERICA
PANAMA
SOUTH AMERICA
CENTRAL AMERICA
PUBLISHING 293,931
PUBLISHING DISTRIBUTION: 12,710 148,714 PANAMA
SOUTH AMERICA
OTHER BUSINESSES:
DISTRIBUTION OF FILM MOVIES 8,153
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL 2,687,724
-----------------------------------------------------------------------------------------------------------------------------------
MAIN
------------------------- ----------------------------------------------------------------
MAIN PRODUCTS TRADEMARKS CUSTOMERS
------------------------------------------------------------------ ----------------------------------------------------------------
INTERSEGMENT ELIMINATIONS
TELEVISION BROADCASTING:
ADVERTISING TIME SOLD MCCANN ERICKSON, INC
BBD&O
SAATCHI & SAATCHI
OMD
GSD&M ADVERTISING
MINDSHARE
OTHER INCOME VARIOUS
PROGRAMMING FOR PAY TELEVISION:
SALES OF SIGNALS TELEVISORA DE COSTARICA
GALAXY ENTERTAIMENT ARGENTINA, S.A.
SKY CHILE CPA
SUPER CABLE, AKL.
TCN DOMINICANA, S.A.
ECHOSTAR
COX
PROGRAMMING EXPORT:
PROGRAMMING AND ROYALTIES TELEVISA CPIF VENTURE, INC.
TELEVISA KYOTO BROADCASTING SYSTEM, CO. LTD
TELEVISA TV. SBT CANAL 4 DE SAO PAULO, S.A.
TELEVISA CORPORACION VENEZOLANA DE TELEVISION
TELEVISA COMPANIA PERUANA DE RADIODIFUSION, S.A.
TELEVISA TV. FUTBOL, INC.
TELEVISA CORPORACION MEDCOM PANAMA, S.A.
PUBLISHING:
MAGAZINE CIRCULATION T.V. Y NOVELAS MAGAZINE GENERAL PUBLIC (AUDIENCE)
NATIONAL GEOGRAPHIC DEALERS
HISPANIC MAGAZINE COMMERCIAL CENTERS (MALLS)
VANIDADES MAGAZINE
COSMOPOLITAN MAGAZINE
TU MAGAZINE
PUBLISHING PROCTER & GAMBLE
P & G PRESTIGE
DIRBEL, S.A.
ESTEE LAUDER
JOHNSON & JOHNSON
WRIGLEY'S
PUBLISHING DISTRIBUTION: SELECCIONES MAGAZINE GENERAL PUBLIC (AUDIENCE)
HOLA MAGAZINE DEALERS
VEA MAGAZINE COMMERCIAL CENTERS (MALLS)
SOHO MAGAZINE
CROMOS MAGAZINE
CAMBIO SET MAGAZINE
SEMANA MAGAZINE
OTHER BUSINESSES:
DISTRIBUTION OF FILM MOVIES NEW LINE INTERNATIONAL RELEASING, INC.
METRO GOLDWIN MAYER STUDIOS, INC.
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
PROJECT, AMOUNT EXERCISED AND PROGRESS PERCENTAGE
ANNEX 13 CONSOLIDATED
Final Printing
----------------------------------------------------------------------------------------------------------------
MAJOR INVESTMENT PROJECTS OF GRUPO TELEVISA, S.A. AND ITS SUBSIDIARIES AT SEPTEMBER 30, 2005,
INCLUDE THE FOLLOWING (MILLIONS OF U.S. DOLLARS AND MEXICAN PESOS):
DESCRIPTION AUTHORIZED AMOUNT EXERCISED AMOUNT PROGRESS %
----------- ----------------- ---------------- ----------
U.S. DOLLAR DENOMINATED PROJECTS:
---------------------------------
DIGITALIZATION OF THE CABLE TELEVISION
NETWORK U.S.$ 124.8 U.S.$ 76.5 61%
INFORMATION TECHNOLOGY PROJECTS
OF CABLE TELEVISION 17.8 13.5 76%
TECHNICAL EQUIPMENT FOR T.V. STATIONS 13.3 10.4 78%
INFORMATION TECHNOLOGY PROJECTS 12.9 12.4 96%
SKY MEXICO PROJECTS 61.7 56.1 91%
MEXICAN PESOS DENOMINATED PROJECTS:
-----------------------------------
INFORMATION TECHNOLOGY PROJECTS PS. 35.5 PS. 29.6 83%
TECHNICAL EQUIPMENT FOR T.V. STATIONS 38.1 1.9 5%
MEXICAN STOCK EXCHANGE
STOCK EXCHANGE CODE: TLEVISA QUARTER: 3 YEAR: 2005
GRUPO TELEVISA, S.A.
INFORMATION RELATED TO BULLETIN B-15 (FOREIGN CURRENCY TRANSLATION)
ANNEX 14 CONSOLIDATED
Final Printing
MONETARY ASSETS AND LIABILITIES OF MEXICAN COMPANIES DENOMINATED IN
FOREIGN CURRENCIES ARE TRANSLATED AT THE PREVAILING EXCHANGE RATE AT
THE BALANCE SHEET DATE. RESULTING EXCHANGE RATE DIFFERENCES ARE
RECOGNIZED IN INCOME FOR THE YEAR, WITHIN INTEGRAL COST OF FINANCING.
ASSETS, LIABILITIES AND RESULTS OF OPERATIONS OF NON-MEXICAN
SUBSIDIARIES ARE FIRST CONVERTED TO MEXICAN GAAP, INCLUDING RESTATING
TO RECOGNIZE THE EFFECTS OF INFLATION BASED ON THE INFLATION OF EACH
FOREIGN COUNTRY, AND THEN TRANSLATED TO MEXICAN PESOS UTILIZING THE
EXCHANGE RATE AS OF THE BALANCE SHEET DATE AT YEAR-END. RESULTING
TRANSLATION DIFFERENCES ARE RECOGNIZED IN EQUITY AS PART OF THE OTHER
COMPREHENSIVE INCOME OR LOSS. FINANCIAL STATEMENTS OF NON-MEXICAN
OPERATIONS THAT ARE INTEGRAL TO MEXICAN OPERATIONS ARE CONVERTED TO
MEXICAN GAAP AND TRANSLATED TO MEXICAN PESOS BY UTILIZING THE EXCHANGE
RATE OF THE BALANCE SHEET DATE AT YEAR-END FOR MONETARY ASSETS AND
LIABILITIES, WITH THE RELATED ADJUSTMENT INCLUDED IN NET INCOME, AND
HISTORICAL EXCHANGE RATES FOR NON-MONETARY ITEMS.
EFFECTIVE MARCH, 2002, THE COMPANY DESIGNATED ITS NET INVESTMENT IN
UNIVISION AS AN EFFECTIVE HEDGE OF ITS OUTSTANDING SENIOR NOTES DUE
2011 AND 2032. EFFECTIVE MARCH 2005, THE COMPANY DESIGNATED ITS NET
INVESTMENT IN UNIVISION AS AN EFFECTIVE HEDGE OF ITS OUTSTANDING
SENIOR NOTES DUE 2025 IN THE AGGREGATE AMOUNT OF U.S.$400 MILLION, AS
OF SEPTEMBER 30, 2005, THE AGGREGATE AMOUNT OF OUTSTANDING LONG-TERM
DEBT BEING HEDGED BY THE NET INVESTMENT IN UNIVISION WAS OF
APPROXIMATELY U.S.$775.5 MILLION (PS.8,348,085) CONSEQUENTLY, ANY
FOREIGN EXCHANGE GAIN OR LOSS ATTRIBUTABLE TO THIS U.S. DOLLAR
LONG-TERM DEBT, BEING HEDGED BY THE COMPANY'S NET INVESTMENT IN SHARES
OF UNIVISION, IS CREDITED OR CHARGED DIRECTLY TO EQUITY (OTHER
COMPREHENSIVE INCOME OR LOSS).
THE GROUP'S FINANCIAL STATEMENTS FOR SEPTEMBER 30, 2004, HAVE BEEN
RESTATED TO MEXICAN PESOS IN PURCHASING POWER AS OF SEPTEMBER 30,
2005, BY USING A RESTATEMENT FACTOR DERIVED FROM THE CHANGE IN THE
NCPI, WHICH FOR 2005 WAS 1.0350. HAD THE ALTERNATIVE WEIGHTED AVERAGE
FACTOR ALLOWED UNDER MEXICAN GAAP BEEN APPLIED TO RESTATE THE GROUP'S
FINANCIAL STATEMENTS FOR SEPTEMBER 30, 2004, WHICH INCLUDED THE
RESULTS OF MEXICAN AND NON-MEXICAN SUBSIDIARIES, THE RESTATEMENT
FACTOR FOR SEPTEMBER 2004 WOULD HAVE BEEN 1.0365.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
GRUPO TELEVISA, S.A.
--------------------------------
(Registrant)
Dated: October 28, 2005 By /s/ Jorge Lutteroth Echegoyen
--------------------------------
Name: Jorge Lutteroth Echegoyen
Title: Controller, Vice-President