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 February, 2003
GRUPO TELEVISA, S.A.
-------------------------------------
(Translation of registrant's name into English)
Av. Vasco de Quiroga No. 2000, Colonia Sante 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 12g-3-2(b): 82 .)
-----
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: February 28, 2003 By /s/ Jorge Lutteroth Echegoyen
------------------------------
Name: Jorge Lutteroth Echegoyen
Title: Controller, Vice-President
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENT
AT DECEMBER 31 OF 2002 AND 2001
(Thousands of Pesos)
FINAL PRINTING
---------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
------------------------------------------
S AMOUNT % AMOUNT %
---------------------------------------------------------------------------------------
1 TOTAL ASSETS 55,302,532 100 50,895,984 100
2 CURRENT ASSETS 25,137,546 45 22,780,797 45
3 ACCOUNTS AND DOCUMENTS RECEIVABLE (NET) 8,786,809 16 5,945,775 12
4 OTHER ACCOUNTS AND DOCUMENTS RECEIVABLE 9,563,636 17 9,268,759 18
5 OTHER ACCOUNTS AND NOTES RECEIVABLE (NET) 1,222,661 2 1,387,875 3
6 INVENTORIES 5,147,115 9 4,845,349 10
7 OTHER CURRENT ASSETS 417,325 1 1,333,039 3
8 LONG-TERM 1,444,410 3 4,240,392 8
9 ACCOUNTS AND DOCUMENTS RECEIVABLE (NET) 5,715 0 6,839 0
10 INVESTMENT IN SHARES OF SUBSIDIARIES
AND NON-CONSOLIDATED 1,281,145 2 (240,547) 0
11 OTHER INVESTMENTS 157,550 0 4,474,100 9
12 PROPERTY, PLANT AND EQUIPMENT 14,688,162 27 14,173,640 28
13 PROPERTY 9,977,196 18 9,971,645 20
14 MACHINERY AND INDUSTRIAL 9,737,672 18 9,155,196 18
15 OTHER EQUIPMENT 2,919,332 5 2,365,912 5
16 ACCUMULATED DEPRECIATION 8,981,658 16 7,770,072 15
17 CONSTRUCTION IN PROGRESS 1,035,620 2 450,959 1
18 DEFERRED ASSETS (NET) 10,047,623 18 5,342,833 10
19 OTHER ASSETS 3,984,791 7 4,358,322 9
20 TOTAL LIABILITIES 33,824,246 100 31,099,485 100
21 CURRENT LIABILITIES 5,810,726 17 3,779,527 12
22 SUPPLIERS 2,228,507 7 2,083,571 7
23 BANK LOANS 512,407 2 340,347 1
24 STOCK MARKET LOANS 720,415 2 0 0
25 TAXES TO BE PAID 886,387 3 285,787 1
26 OTHER CURRENT LIABILITIES 1,463,010 4 1,069,822 3
27 LONG-TERM LIABILITIES 14,117,094 42 14,032,989 45
28 BANK LOANS 1,414,886 4 4,466,454 14
29 STOCK MARKET LOANS 11,930,329 35 9,077,549 29
30 OTHER LOANS 771,879 2 488,986 2
31 DEFERRED LOANS 13,825,588 41 13,247,492 43
32 OTHER LIABILITIES 70,838 0 39,477 0
33 CONSOLIDATED STOCK HOLDERS' EQUITY 21,478,286 100 19,796,499 100
34 MINORITY INTEREST 1,139,576 5 1,031,429 5
35 MAJORITY INTEREST 20,338,710 95 18,765,070 95
36 CONTRIBUTED CAPITAL 7,585,164 35 7,591,347 38
37 PAID-IN CAPITAL STOCK (NOMINAL) 1,512,083 7 1,513,427 8
38 RESTATEMENT OF PAID-IN CAPITAL STOCK 5,856,623 27 5,861,864 30
39 PREMIUM ON SALES OF SHARES 216,458 1 216,056 1
40 CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES 0 0 0 0
41 CAPITAL INCREASE (DECREASE) 12,753,546 59 11,173,723 56
42 RETAINED EARNINGS AND CAPITAL RESERVE 12,170,092 57 10,204,175 52
43 REPURCHASE FUNDS OF SHARES 5,516,855 26 5,516,855 28
44 EXCESS (SHORTFALL) IN RESTATEMENT OF STOCK
HOLDERS' EQUITY (5,740,942) (27) (5,969,682) (30)
45 NET INCOME FOR THE YEAR 807,541 4 1,422,375 7
---------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENT
BREAKDOWN OF MAIN CONCEPTS
(Thousands of Pesos)
FINAL PRINTING
----------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
------------------------------------------
S AMOUNT % AMOUNT %
----------------------------------------------------------------------------------------
3 CASH AND SHORT-TERM INVESTMENTS 8,786,809 100 5,945,775 100
46 CASH 1,613,176 18 513,376 9
47 SHORT-TERM INVESTMENTS 7,173,633 82 5,432,399 91
18 DEFERRED ASSETS (NET) 10,047,623 100 5,342,833 100
48 AMORTIZED OR REDEEMED EXPENSES 2,486,937 25 2,638,427 49
49 GOODWILL 7,560,686 75 2,704,406 51
50 DEFERRED TAXES 0 0 0 0
51 OTHERS 0 0 0 0
21 CURRENT LIABILITIES 5,810,726 100 3,779,527 100
52 FOREIGN CURRENCY LIABILITIES 3,172,287 55 2,188,853 58
53 MEXICAN PESOS LIABILITIES 2,638,439 45 1,590,674 42
24 STOCK MARKET LOANS 720,415 100 0 100
54 COMMERCIAL PAPER 720,415 100 0
55 CURRENT MATURITIES OF MEDIUM TERM NOTES 0 0 0
56 CURRENT MATURITIES OF BONDS 0 0 0
26 OTHER CURRENT LIABILITIES 1,463,010 100 1,069,822 100
57 OTHER CURRENT LIABILITIES WITH COST 7,058 0 13,542 1
58 OTHER CURRENT LIABILITIES WITHOUT COST 1,455,952 100 1,056,280 99
27 LONG-TERM LIABILITIES 14,117,094 100 14,032,989 100
59 FOREIGN CURRENCY LIABILITIES 10,184,873 72 9,895,311 71
60 MEXICAN PESOS LIABILITIES 3,932,221 28 4,137,678 29
29 STOCK MARKET LOANS 11,930,329 100 9,077,549 100
61 BONDS 11,930,329 100 9,077,549 100
62 MEDIUM TERM NOTES 0 0 0 0
30 OTHER LOANS 771,879 100 488,986 100
63 OTHER LOANS WITH COST 0 0 6,534 1
64 OTHER LOANS WITHOUT COST 771,879 100 482,452 99
31 DEFERRED LOANS 13,825,588 100 13,247,492 100
65 NEGATIVE GOODWILL 0 0 0 0
66 DEFERRED TAXES 2,057,207 15 1,830,814 14
67 OTHERS 11,768,381 85 11,416,678 86
32 OTHER LIABILITIES 70,838 100 39,477 100
68 RESERVES 70,838 100 39,477 100
69 OTHERS LIABILITIES 0 0 0 0
44 EXCESS (SHORTFALL) IN RESTATEMENT OF STOCK (5,740,942) 100 (5,969,682) 100
HOLDERS' EQUITY
70 ACCUMULATED INCOME DUE TO MONETARY POSITION (28,837) (1) (28,837) 0
71 INCOME FROM NON-MONETARY POSITION ASSETS (5,712,105) (99) (5,940,845) (100)
----------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENT
OTHER CONCEPTS
(Thousands of Pesos)
FINAL PRINTING
----------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
-----------------------------------------
S AMOUNT AMOUNT
----------------------------------------------------------------------------------------
72 WORKING CAPITAL 19,326,820 19,001,270
73 PENSIONS FUND AND SENIORITY PREMIUMS 721,132 705,077
74 EXECUTIVES (*) 36 63
75 EMPLOYERS (*) 12,514 13,443
76 WORKERS (*) 0 178
77 CIRCULATION SHARES (*) 8,848,394,374 8,856,259,557
78 REPURCHASED SHARES (*) 284,648,743 586,692,768
----------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
(*) THESE CONCEPTS SHOULD BE EXPRESSED IN UNITS.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED EARNING STATEMENT
FROM JANUARY THE 1st TO DECEMBER 31 OF 2002 AND 2001
(Thousands of Pesos)
FINAL PRINTING
---------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
-----------------------------------------
R AMOUNT % AMOUNT %
---------------------------------------------------------------------------------------
1 NET SALES 21,559,269 100 20,785,582 100
2 COST OF SALES 13,406,698 62 12,951,392 62
3 GROSS INCOME 8,152,571 38 7,834,190 38
4 OPERATING 3,502,241 16 3,494,590 17
5 OPERATING INCOME 4,650,330 22 4,339,600 21
6 TOTAL FINANCING COST 612,972 3 436,918 2
7 INCOME AFTER FINANCING COST 4,037,358 19 3,902,682 19
8 OTHER FINANCIAL OPERATIONS 2,983,071 14 1,268,823 6
9 INCOME BEFORE TAXES AND WORKERS' PROFIT
SHARING 1,054,287 5 2,633,859 13
10 RESERVE FOR TAXES AND WORKERS' PROFIT
SHARING 299,347 1 571,433 3
11 NET INCOME AFTER TAXES AND WORKERS' PROFIT
SHARING 754,940 4 2,062,426 10
12 SHARE IN NET INCOME OF SUBSIDIARIES AND
NON-CONSOLIDATED ASSOCIATES (1,114,566) (5) (551,871) (3)
13 CONSOLIDATED NET INCOME OF CONTINUOUS
OPERATIONS (359,626) (2) 1,510,555 7
14 INCOME OF DISCONTINUOUS OPERATIONS (1,098,334) (5) (14,063) 0
15 CONSOLIDATED NET INCOME BEFORE
EXTRAORDINARY ITEMS 738,708 3 1,524,618 7
16 EXTRAORDINARY ITEMS NET EXPENSES (INCOME) 0 0 0 0
17 NET EFFECT AT THE BEGINNING OF THE YEAR BY
CHANGES IN ACCOUNTING PRINCIPLES 0 0 73,402 0
18 NET CONSOLIDATED INCOME 738,708 3 1,451,216 7
19 NET INCOME OF MINORITY INTEREST (68,833) 28,841 0
20 NET INCOME OF MAJORITY INTEREST 807,541 4 1,422,375 7
---------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED EARNING STATEMENT
BREAKDOWN OF MAIN CONCEPTS
(Thousands of Pesos)
FINAL PRINTING
----------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
---------------------------------------
R AMOUNT % AMOUNT %
----------------------------------------------------------------------------------------
1 NET SALES 21,559,269 100 20,785,582 100
21 DOMESTIC 18,224,236 85 17,927,532 86
22 FOREIGN 3,335,033 15 2,858,050 14
23 TRANSLATED INTO DOLLARS (***) 318,715 1 294,607 1
6 TOTAL FINANCING COST 612,972 100 436,918 100
24 INTEREST PAID 1,371,153 224 1,273,308 291
25 EXCHANGE LOSSES 1,211,629 198 944,520 216
26 INTEREST EARNED 589,627 96 978,417 224
27 EXCHANGE PROFITS 1,422,458 232 981,860 225
28 GAIN DUE TO MONETARY POSITION 42,275 7 179,367 41
8 OTHER FINANCIAL OPERATIONS 2,983,071 100 1,268,823 100
29 OTHER NET EXPENSES (INCOME) NET 2,983,071 100 1,268,823 100
30 (PROFIT) LOSS ON SALE OF OWN SHARES 0 0 0 0
31 (PROFIT) LOSS ON SALE OF SHORT-TERM
INVESTMENTS 0 0 0 0
10 RESERVE FOR TAXES AND WORKERS' PROFIT SHARING 299,347 100 571,433 100
32 INCOME TAX 898,608 300 727,283 127
33 DEFERRED INCOME TAX (603,357) (202) (178,572) (31)
34 WORKERS' PROFIT SHARING 4,096 1 22,722 4
35 DEFERRED WORKERS' PROFIT SHARING 0 0 0 0
----------------------------------------------------------------------------------------
(***) THOUSANDS OF DOLLARS
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED EARNING STATEMENT
OTHER CONCEPTS
(Thousands of Pesos)
FINAL PRINTING
----------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
------------------------------------------
R AMOUNT AMOUNT
----------------------------------------------------------------------------------------
36 TOTAL SALES 23,415,369 23,191,614
37 NET INCOME OF THE YEAR 338,028 1,405,646
38 NET SALES (**) 21,559,269 20,785,582
39 OPERATION INCOME (**) 4,650,330 4,339,600
40 NET INCOME OF MAYORITY INTEREST (**) 807,541 1,422,375
41 NET CONSOLIDATED INCOME (**) 738,708 1,451,216
----------------------------------------------------------------------------------------
(**) THE RESTATED INFORMATION ON THE LAST TWELVE MONTHS SHOULD BE USED
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENT
FROM JANUARY THE 1st TO DECEMBER 31 OF 2002 AND 2001
(Thousands of Pesos)
FINAL PRINTING
----------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
------------------------------------------
C AMOUNT AMOUNT
----------------------------------------------------------------------------------------
1 CONSOLIDATED NET INCOME 738,708 1,451,216
2 + (-) ITEMS ADDED TO INCOME WHICH DO NOT
REQUIRE USING CASH 2,989,036 2,604,353
3 CASH FLOW FROM NET INCOME OF THE YEAR 3,727,744 4,055,569
4 CASH FLOW FROM CHANGE IN WORKING CAPITAL 1,157,684 (1,995,009)
5 CASH GENERATED (USED) IN OPERATING
ACTIVITIES 4,885,428 2,060,560
6 CASH FLOW FROM EXTERNAL FINANCING 543,678 1,187,878
7 CASH FLOW FROM INTERNAL FINANCING 537,359 (234,343)
8 CASH FLOW GENERATED (USED) BY FINANCING 1,081,037 953,535
9 CASH FLOW GENERATED (USED) IN INVESTMENT
ACTIVITIES (3,125,431) (5,396,150)
10 NET INCREASE (DECREASE) IN CASH AND
SHORT-TERM INVESTMENTS 2,841,034 (2,382,055)
11 CASH AND SHORT-TERM INVESTMENTS AT THE
BEGINNING OF PERIOD 5,945,775 8,327,830
12 CASH AND SHORT-TERM INVESTMENTS AT THE
END OF PERIOD 8,786,809 5,945,775
----------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENT
BREAKDOWN OF MAIN CONCEPTS
(Thousands of Pesos)
FINAL PRINTING
-------------------------------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
----------------------------------------------
C AMOUNT AMOUNT
-------------------------------------------------------------------------------------------------------------
2 + (-) ITEMS ADDED TO INCOME WHICH DO NOT
REQUIRE USING CASH 2,989,036 2,604,353
13 DEPRECIATION AND AMORTIZATION FOR THE YEAR 1,882,850 1,556,435
14 + (-) NET INCREASE (DECREASE) IN PENSIONS FUND
AND SENIORITY PREMIUMS -
15 + (-) NET LOSS (PROFIT) IN MONEY EXCHANGE -
16 + (-) NET LOSS (PROFIT) IN ASSETS AND LIABILITIES
ACTUALIZATION -
17 + (-) OTHER ITEMS 1,106,186 1,047,918
4 CASH FLOW FROM CHANGE IN WORKING CAPITAL 1,157,684 (1,995,009)
18 + (-) DECREASE (INCREASE) IN ACCOUNTING RECEIVABLE (567,648) (730,594)
19 + (-) DECREASE (INCREASE) IN INVENTORIES (92,140) 492,882
20 + (-) DECREASE (INCREASE) IN OTHER ACCOUNT
RECEIVABLE (218,908) (1,063,830)
21 + (-) INCREASE (DECREASE) IN SUPPLIER ACCOUNT 144,936 (149,264)
22 + (-) INCREASE (DECREASE) IN OTHER LIABILITIES 1,891,444 (544,203)
6 CASH FLOW FROM EXTERNAL FINANCING 543,678 1,187,878
23 + SHORT-TERM BANK ANS STOCK MARKET FINANCING 910,831 35,050
24 + LONG-TERM BANK AND STOCK MARKET FINANCING 3,342,363 2,637,701
25 + DIVIDEND RECEIVED -
26 + OTHER FINANCING -
27 (-) BANK FINANCING AMORTIZATION (2,810,677) (510,786)
28 (-) STOCK MARKET AMORTIZATION -
29 (-) OTHER FINANCING AMORTIZATION (898,839) (974,087)
7 CASH FLOW FROM INTERNAL FINANCING 537,359 (234,343)
30 + (-) INCREASE (DECREASE) IN CAPITAL STOCKS 537,359 (234,343)
31 (-) DIVIDENDS PAID -
32 + PREMIUM ON SALE OF SHARES -
33 + CONTRIBUTION FOR FUTURE CAPITAL INCREASES -
9 CASH FLOW GENERATED (UTILIZED) IN INVESTMENT
ACTIVITIES (3,125,431) (5,396,150)
34 + (-) DECREASE (INCREASE) IN STOCK INVESTMENTS
OF A PERMANENT NATURE 3,347,561 (4,741,006)
35 (-) ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT (1,353,923) (1,415,068)
36 (-) INCREASE IN CONSTRUCTIONS IN PROGRESS -
37 + SALE OF OTHER PERMANENT INVESTMENTS -
38 + SALE OF TANGIBLE FIXED ASSETS 249,351 547,820
39 + (-) OTHER ITEMS (5,368,420) 212,104
-------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
RATIOS
CONSOLIDATED
FINAL PRINTING
-------------------------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
P
-------------------------------------------------------------------------------------------------------
YIELD
1 NET INCOME TO NET SALES 3.43 % 6.98 %
2 NET INCOME TO STOCK HOLDERS' EQUITY (**) 3.97 % 7.58 %
3 NET INCOME TO TOTAL ASSETS (**) 1.34 % 2.85 %
4 CASH DIVIDENDS TO PREVIOUS YEAR NET INCOME 0.00 % %
5 INCOME DUE TO MONETARY POSITION TO NET INCOME (5.72) % (12.36) %
ACTIVITY
6 NET SALES TO NET ASSETS (**) 0.39 times 0.41 times
7 NET SALES TO FIXED ASSETS (**) 1.47 times 1.47 times
8 INVENTORIES ROTATION (**) 2.60 times 2.67 times
9 ACCOUNTS RECEIVABLE IN DAYS OF SALES 139 days 140 days
10 PAID INTEREST TO TOTAL LIABILITIES WITH COST (**) 9.40 % 9.16 %
LEVERAGE
11 TOTAL LIABILITIES TO TOTAL ASSETS 61.16 % 61.10 %
12 TOTAL LIABILITIES TO STOCK HOLDERS' EQUITY 1.57 times 1.57 times
13 FOREIGN CURRENCY LIABILITIES TO TOTAL LIABILITIES 39.49 % 38.86 %
14 LONG-TERM LIABILITIES TO FIXED ASSETS 96.11 % 99.01 %
15 OPERATING INCOME TO INTEREST PAID 3.39 times 3.41 times
16 NET SALES TO TOTAL LIABILITIES (**) 0.64 times 0.67 times
LIQUIDITY
17 CURRENT ASSETS TO CURRENT LIABILITIES 4.33 times 6.03 times
18 CURRENT ASSETS LESS INVENTORY TO CURRENT
LIABILITIES 3.44 times 4.75 times
19 CURRENT ASSETS TO TOTAL LIABILITIES 0.74 times 0.73 times
20 AVAILABLE ASSETS TO CURRENT LIABILITIES 151.22 % 157.32 %
CASH FLOW
21 CASH FLOW FROM NET INCOME TO NET SALES 17.29 % 19.51 %
22 CASH FLOW FROM CHANGES IN WORKING CAPITAL
TO NET SALES 5.37 % (9.60) %
23 CASH GENERATED (USED) IN OPERATING TO
INTEREST PAID 3.56 times 1.62 times
24 EXTERNAL FINANCING TO CASH GENERATED (USED)
IN FINANCING 50.29 % 124.58 %
25 INTERNAL FINANCING TO CASH GENERATED (USED)
IN FINANCING 49.71 % (24.58) %
26 ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT
TO CASH GENERATED (USED) IN INVESTMENT
ACTIVITIES 43.32 % 26.22 %
-------------------------------------------------------------------------------------------------------
(**) IN THESE RATIOS FOR THE DATA TAKE INTO CONSIDERATION THE LAST TWELVE MONTHS.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
DATA PER SHARE
CONSOLIDATED FINANCIAL STATEMENT
FINAL PRINTING
-----------------------------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
----------------------------------------------------
D AMOUNT AMOUNT
-----------------------------------------------------------------------------------------------------------
1 BASIC PROFIT PER ORDINARY SHARE (**) $ .09 $ .16
2 BASIC PROFIT PER PREFERENT SHARE (**) $ .09 $ .16
3 DILUTED PROFIT PER ORDINARY SHARE (**) $ .00 $ .00
4 CONTINUOUS OPERATING PROFIT PER COMUN
SHARE (**) $ (.04) $ .17
5 EFFECT OF DISCONTINUOUS OPERATING ON
CONTINUOUS OPERATING PROFIT PER SHARE (**) $ .12 $ .00
6 EFFECT OF EXTRAORDINARY PROFIT AND LOSS ON
CONTINUOUS OPERATING PROFIT PER SHARE (**) $ .00 $ .00
7 EFFECT BY CHANGES IN ACCOUNTING POLICIES ON
CONTINUOUS OPERATING PROFIT PER SHARE (**) $ .00 $ (.01)
8 CARRYING VALUE PER SHARE $ 2.30 $ 2.12
9 CASH DIVIDEND ACUMULATED PER SHARE $ .00 $ .00
10 DIVIDEND IN SHARES PER SHARE .00 shares .00 shares
11 MARKET PRICE TO CARRYING VALUE 2.10 times 3.05 times
12 MARKET PRICE TO BASIC PROFIT PER ORDINARY
SHARE (**) 53.10 times 40.43 times
13 MARKET PRICE TO BASIC PROFIT PER PREFERENT
SHARE (**) 52.67 times 40.13 times
-----------------------------------------------------------------------------------------------------------
(**) TO CALCULATE THE DATA PER SHARE USE THE NET INCOME FOR THE LAST TWELVE MONTHS.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
FINANCIAL STATEMENT NOTES (1)
CONSOLIDATED
FINAL PRINTING
----------------------------------------------------------------------------
CONSOLIDATED FINANCIAL STATEMENTS - BREAKDOWN OF MAIN CONCEPTS-
S 53 MEXICAN PESOS LIABILITIES. THIS CAPTION INCLUDES, IN THE FOURTH
QUARTER OF 2002, LIABILITIES IN FOREIGN CURRENCY (TAXES PAYABLE) FOR AN
AMOUNT OF PS.66,907, WHICH CANNOT BE PRESENTED IN S 52 (FOREIGN CURRENCY
LIABILITIES) SINCE THE SYSTEM DO NOT ALLOW A RELATED VALIDATION WITH ANNEX 5
(ANALYSIS OF CREDITS).
----------------------------------------------------------------------------
(1) THE REPORT CONTAINS THE NOTES CORRESPONDING TO THE FINANTIAL
STATEMENT AMOUNTS, INCLUDING THEIR BREAKDOWN OF MAIN CONCEPTS AND
OTHER CONCEPTS.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED
FINAL PRINTING
INTEGRATION OF THE PAID SOCIAL CAPITAL STOCK
CHARACTERISTICS OF THE SHARES
---------------------------------------------------------------------------------------------------------
CAPITAL STOCK
NUMBER OF SHARES (THOUSANDS OF PESOS)
---------------------------------------------------------------------------
NOMINAL VALID FIXED VARIABLE
SERIES VALUE COUPON PORTION PORTION MEXICAN SUBSCRIPTION FIXED VARIABLE
---------------------------------------------------------------------------------------------------------
A - 4,479,799,524 4,479,799,524 765,543
---------------------------------------------------------------------------------------------------------
D - 2,184,297,425 2,184,297,425 373,270
---------------------------------------------------------------------------------------------------------
L - 2,184,297,425 2,184,297,425 373,270
---------------------------------------------------------------------------------------------------------
TOTAL - 8,848,394,374 - 6,664,096,949 2,184,297,425 1,512,083 -
---------------------------------------------------------------------------------------------------------
TOTAL NUMBER OF SHARES REPRESENTING THE PAID-IN CAPITAL STOCK ON THE DATE OF
SENDING THE INFORMATION
8,848,394,374
SHARES PROPORTION BY:
CPO'S : THREE SHARES (ONE SERIES A, ONE SERIES D AND ONE SERIES L)
UNITS :
ADRS'S :
GDRS'S :
ADS'S :
GDS'S : TWENTY CPO's
REPURCHASED OWN SHARES
NUMBER OF MARKET VALUE OF THE SHARE
SERIES SHARES AT REPURCHASE AT QUARTER
--------------------------------------------------------------------
A 110,943,593 6.55679 4.65500
D 86,852,575 6.55679 4.65500
L 86,852,575 6.55679 4.65500
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED
FINAL PRINTING
THE SHARES REPRESENTING THE COMPANY'S CAPITAL STOCK CONSISTED OF:
ISSUED 9,133,043,117
REPURCHASED (284,648,743)
---------------
OUTSTANDING 8,848,394,374
===============
THE COMPANY'S SHARES REPURCHASED BY THE GROUP CONSISTED OF:
SHARES REPURCHASED BY GRUPO TELEVISA, S.A. 97,851,000
SHARES ACQUIRED BY TELEVISA COMERCIAL, S.A. DE C.V. 496,750,068
RESALE OF SHARES (30,000)
CANCELLATION OF SHARES (309,922,325)
---------------
284,648,743
===============
NOTE: THE AVERAGE REPURCHASE AND THE MARKET VALUE OF THE SHARE
AT QUARTER ARE HISTORICAL.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CONSOLIDATED
FINAL PRINTING
DECLARATION FROM THE COMPANY OFFICIALS RESPONSIBLE FOR THE INFORMATION.
I HEREBY SWEAR THAT THE FINANCIAL INFORMATION HERE IN SUPPLIED TO THIS
STOCK EXCHANGE, CORRESPONDING TO THE PERIOD FROM 1 OF JANUARY TO 31 OF
DECEMBER OF 2002 AND 2001 IS THAT OBTAINED FROM OUR AUTHORIZED ACCOUNTING
REGISTERS AND IS THE RESULT OF THE APPLICATION OF THE ACCOUNTING PRINCIPLES
AND NORMS ACCEPTED AND STATED BY THE MEXICAN INSTITUTE OF PUBLIC
ACCOUNTANTS AND IN THE PROVISIONS OF THE MEXICAN NATIONAL BANK AND STOCK
COMMISSION (COMISION NACIONAL BANCARIA Y DE VALORES).
THE ACCOUNTING PRINCIPLES USED BY THIS COMPANY AND THE PROCESSING OF DATA
FOR THE PERIOD TO WHICH THE SAID INFORMATION REFERS WERE APPLIED USING THE
SAME BASES AS FOR THE SIMILAR PERIOD OF THE PREVIOUS YEAR.
------------------------------------------
C.P. JORGE LUTTEROTH ECHEGOYEN
Controller, Vice-president
MEXICO, D.F. AT FEBRUARY 26, 2003
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 4 YEAR: 2002
GRUPO TELEVISA, S.A.
DIRECTOR REPORT (1)
ANNEX 1
CONSOLIDATED
FINAL PRINTING
------------------------------------------------------------------------------
MEXICO CITY, D.F., FEBRUARY 26, 2003 -- GRUPO TELEVISA, S.A. (NYSE:TV;
BMV: TLEVISA CPO) TODAY ANNOUNCED RESULTS FOR THE UNAUDITED FULL YEAR
ENDED DECEMBER 31, 2002. RESULTS, WHICH ARE ATTACHED, ARE IN THOUSANDS
OF MEXICAN PESOS AND HAVE BEEN PREPARED IN ACCORDANCE WITH MEXICAN
GAAP, AND ADJUSTED TO PESOS IN PURCHASING POWER AS OF DECEMBER 31,
2002.
NET SALES
NET SALES INCREASED 3.7% TO PS.21,559,269 THOUSAND IN 2002 FROM
PS.20,785,582 THOUSAND IN 2001 ATTRIBUTABLE TO HIGHER REVENUES IN THE
TELEVISION BROADCASTING SEGMENT DUE TO OUR HIGH RATINGS AND AUDIENCE
SHARES THROUGHOUT THE YEAR, OUR STRONG SALES DURING THE 2002 WORLD
CUP, A RECORD INCREASE OF 19.5% IN OUR LOCAL SALES DRIVEN BY CHANNEL
4; ADDITIONAL REVENUE RESULTING FROM THE ACQUISITION OF A PUBLISHING
DISTRIBUTION COMPANY IN CHILE; AS WELL AS HIGHER SALES IN THE
PROGRAMMING FOR PAY TELEVISION SEGMENT. THESE INCREASES WERE PARTIALLY
OFFSET BY LOWER SALES IN THE OTHER BUSINESSES, PROGRAMMING LICENSING,
RADIO, CABLE TELEVISION AND PUBLISHING SEGMENTS.
COST OF SALES
TOTAL COST OF SALES, EXCLUDING DEPRECIATION AND AMORTIZATION,
INCREASED 2.7% TO PS.12,418,087 THOUSAND IN 2002 FROM PS.12,094,542
THOUSAND IN 2001. THE INCREASE REFLECTS HIGHER COSTS IN THE PUBLISHING
DISTRIBUTION SEGMENT DUE TO THE ACQUISITION OF THE PUBLISHING
DISTRIBUTION PLATFORM IN CHILE; THE COSTS ASSOCIATED WITH THE
TRANSMISSION OF THE 2002 WORLD CUP REFLECTED IN THE TELEVISION
BROADCASTING SEGMENT; AS WELL AS HIGHER COSTS IN THE CABLE TELEVISION
AND PROGRAMMING FOR PAY TELEVISION SEGMENTS. THESE INCREASES WERE
PARTIALLY OFFSET BY LOWER COSTS IN THE OTHER BUSINESSES, PROGRAMMING
LICENSING, RADIO AND PUBLISHING SEGMENTS.
OPERATING EXPENSES
OPERATING EXPENSES, INCLUDING CORPORATE EXPENSES AND EXCLUDING
DEPRECIATION AND AMORTIZATION, INCREASED BY 1.5% TO PS.3,041,165
THOUSAND IN 2002 AS COMPARED TO PS.2,997,400 THOUSAND REPORTED IN
2001. THIS INCREASE IS DUE TO A 7.1% INCREASE IN SELLING EXPENSES
ASSOCIATED PRIMARILY WITH THE PUBLISHING DISTRIBUTION PLATFORM IN
CHILE AND THE TELEVISION BROADCASTING SEGMENT, AS WELL AS A HIGHER
PROVISION OF DOUBTFUL TRADE ACCOUNTS IN THE PROGRAMMING LICENSING
DIVISION, PARTIALLY OFFSET BY THE LOWER SELLING EXPENSES IN THE OTHER
BUSINESSES AND CABLE TELEVISION SEGMENTS. THIS NET INCREASE WAS
PARTIALLY OFFSET BY A 4.8% REDUCTION IN ADMINISTRATIVE EXPENSES,
RESULTING PRIMARILY FROM THE OTHER BUSINESSES, PUBLISHING, TELEVISION
BROADCASTING, RADIO AND PROGRAMMING LICENSING SEGMENTS, PARTIALLY
OFFSET BY HIGHER ADMINISTRATIVE EXPENSES IN THE PUBLISHING
DISTRIBUTION AND CABLE TELEVISION SEGMENTS.
EBITDA
EBITDA IS DEFINED AS OPERATING INCOME BEFORE DEPRECIATION AND
AMORTIZATION. EBITDA INCREASED 7.1% TO PS.6,100,017 THOUSAND IN 2002
FROM PS.5,693,640 THOUSAND REPORTED IN 2001. EBITDA MARGIN INCREASED
TO 28.3% IN 2002 FROM 27.4% REPORTED LAST YEAR. THESE INCREASES ARE
PRIMARILY RELATED TO HIGHER NET SALES AND LOWER ADMINISTRATIVE
EXPENSES, PARTIALLY OFFSET BY HIGHER COST OF SALES AND SELLING
EXPENSES.
OPERATING INCOME
OPERATING INCOME INCREASED 7.2% TO PS.4,650,330 THOUSAND IN 2002 AS
COMPARED TO PS.4,339,600 THOUSAND IN 2001, DUE TO HIGHER NET SALES AND
LOWER ADMINISTRATIVE EXPENSES, PARTIALLY OFFSET BY HIGHER DEPRECIATION
AND AMORTIZATION COSTS, MAINLY IN THE TELEVISION BROADCASTING, CABLE
TELEVISION, OTHER BUSINESSES AND PUBLISHING DISTRIBUTION SEGMENTS, AS
WELL AS HIGHER COST OF SALES AND SELLING EXPENSES.
THE CHARGE FOR OPERATING DEPRECIATION AND AMORTIZATION WAS OF
PS.1,449,687 THOUSAND AND PS.1,354,040 THOUSAND IN 2002 AND 2001,
RESPECTIVELY.
INTEGRAL COST OF FINANCING
THE EXPENSES ATTRIBUTABLE TO INTEGRAL COST OF FINANCING INCREASED BY
PS.176,054 THOUSAND, OR 40.3%, TO PS.612,972 THOUSAND FOR THE YEAR
ENDED DECEMBER 31, 2002 FROM PS.436,918 THOUSAND FOR THE YEAR ENDED
DECEMBER 31, 2001. THIS INCREASE REFLECTS: (A) A PS.728,004 THOUSAND
INCREASE IN NET FOREIGN EXCHANGE LOSS, PRIMARILY DUE TO THE 14.01%
DEPRECIATION OF THE MEXICAN PESO AS COMPARED TO THE U.S. DOLLAR DURING
THE YEAR ENDED DECEMBER 31, 2002, VERSUS A 4.5% APPRECIATION OF THE
MEXICAN PESO AS COMPARED TO THE U.S. DOLLAR DURING THE YEAR ENDED
DECEMBER 31, 2001, AS WELL AS A RESULT OF A HIGHER NET LIABILITY
FOREIGN CURRENCY MONETARY POSITION OF THE COMPANY DURING THE YEAR
ENDED DECEMBER 31, 2002 AS COMPARED TO THE YEAR ENDED DECEMBER 31,
2001; (B) A PS.388,790 THOUSAND DECREASE IN INTEREST INCOME, PRIMARILY
AS A RESULT OF A REDUCTION IN INTEREST RATES DURING THE YEAR ENDED
DECEMBER 31, 2002 AS COMPARED TO THE YEAR ENDED DECEMBER 31, 2001,
WHICH WAS PARTIALLY OFFSET BY A HIGHER AVERAGE AMOUNT OF TEMPORARY
INVESTMENTS DURING THE YEAR ENDED DECEMBER 31, 2002 AS COMPARED TO THE
YEAR ENDED DECEMBER 31, 2001; (C) A PS.96,900 THOUSAND INCREASE IN
INTEREST EXPENSE, PRIMARILY AS A RESULT OF A HIGHER LEVEL OF DEBT
OUTSTANDING DURING THE YEAR ENDED DECEMBER 31, 2002 AS COMPARED TO THE
YEAR ENDED DECEMBER 31, 2001, WHICH WAS PARTIALLY OFFSET BY A
REDUCTION IN INTEREST RATES ATTRIBUTABLE TO CERTAIN COMPANY'S DEBT
DURING THE YEAR ENDED DECEMBER 31, 2002 AS COMPARED TO THE YEAR ENDED
DECEMBER 31, 2001; AND (D) A PS.18,609 THOUSAND INCREASE IN THE
RESTATEMENT OF THE COMPANY'S UDI DENOMINATED DEBT, PRIMARILY DUE TO A
HIGHER INFLATION DURING THE YEAR ENDED DECEMBER 31, 2002 AS COMPARED
TO THE YEAR ENDED DECEMBER 31, 2001.
THESE INCREASES IN THE INTEGRAL COST OF FINANCING WERE PARTIALLY
OFFSET BY: (A) A PS.795,225 THOUSAND DECREASE IN THE FOREIGN EXCHANGE
LOSS INCURRED IN CONNECTION WITH THE COMPANY'S U.S.$600 MILLION
LONG-TERM DEBT SECURITIES MATURING IN 2011 AND 2032, WHICH PRINCIPAL
AMOUNT IS BEING HEDGED BY THE COMPANY'S NET INVESTMENT IN UNIVISION
SINCE MARCH 1, 2002; (B) A PS.106,268 THOUSAND DECREASE IN LOSS
ATTRIBUTABLE TO FOREIGN EXCHANGE CONTRACTS WHICH WERE SETTLED DOWN IN
THE FOURTH QUARTER OF 2001; (C) A PS.137,092 THOUSAND DECREASE IN LOSS
FROM MONETARY POSITION PRIMARILY AS A RESULT OF A LOWER NET ASSET
MONETARY POSITION DURING THE YEAR ENDED DECEMBER 31, 2002 AS COMPARED
TO THE YEAR ENDED DECEMBER 31, 2001, WHICH WAS PARTIALLY OFFSET BY
HIGHER INFLATION IN MEXICO DURING THE YEAR ENDED DECEMBER 31, 2002
(5.7%) AS COMPARED TO THE YEAR ENDED DECEMBER 31, 2001 (4.4%); AND (D)
A PS.17,664 THOUSAND GAIN ATTRIBUTABLE TO INTEREST SWAP CONTRACTS
OUTSTANDING DURING THE FOURTH QUARTER OF 2002.
RESTRUCTURING AND NON-RECURRING CHARGES
RESTRUCTURING AND NON-RECURRING CHARGES INCREASED BY PS.267,526
THOUSAND, OR 46.6%, TO PS.841,863 THOUSAND FOR THE YEAR ENDED DECEMBER
31, 2002 FROM PS.574,337 THOUSAND FOR THE YEAR ENDED DECEMBER 31,
2001. THIS INCREASE PRIMARILY REFLECTS A PS.325,383 THOUSAND
NON-RECURRING CHARGE TAKEN IN CONNECTION WITH THE WRITE-OFF OF
EXCLUSIVE RIGHTS LETTERS FOR SOCCER PLAYERS, AS WELL AS A PS.163,431
THOUSAND NON-RECURRING CHARGE RELATED TO THE DRAWDOWN BY DIRECTV UNDER
A LETTER OF CREDIT POSTED BY THE COMPANY IN CONNECTION WITH CERTAIN
ARRANGEMENTS BETWEEN DIRECTV AND THE COMPANY TO BROADCAST THE 2002
WORLD CUP, WHICH AMOUNT IS IN DISPUTE BY THE PARTIES. THIS INCREASE
WAS PARTIALLY OFFSET BY A REDUCTION IN RESTRUCTURING CHARGES DUE TO
FEWER WORK FORCE REDUCTIONS IN THE YEAR ENDED DECEMBER 31, 2002 AS
COMPARED TO THE YEAR ENDED DECEMBER 31, 2001.
OTHER EXPENSE-NET
OTHER EXPENSE-NET INCREASED BY PS.1,446,722 THOUSAND TO PS.2,141,208
THOUSAND FOR THE YEAR ENDED DECEMBER 31, 2002, AS COMPARED TO
PS.694,486 THOUSAND FOR THE YEAR ENDED DECEMBER 31, 2001. THIS
INCREASE PRIMARILY REFLECTS A PS.230,769 THOUSAND INCREASE IN THE
AMORTIZATION OF GOODWILL, PRIMARILY IN CONNECTION WITH THE ACQUISITION
OF SHARES OF UNIVISION IN DECEMBER 2001 AND APRIL 2002; A PS.844,286
THOUSAND INCREASE IN THE WRITE-OFF OF UNAMORTIZED GOODWILL, RESULTING
FROM THE EVALUATION OF THE RECOVERABILITY OF CERTAIN LONG-LIVED
ASSETS; AND A PS.330,791 THOUSAND INCREASE IN THE LOSS ON DISPOSITION
OF INVESTMENTS FOR THE YEAR ENDED DECEMBER 31, 2002, AS COMPARED TO
THE GAIN FOR THE YEAR ENDED DECEMBER 31, 2001, WHICH PRIMARILY
INCLUDED THE GAIN ON SALE OF A 50% LIMITED VOTING STAKE IN THE
COMPANY'S RADIO SUBSIDIARY IN OCTOBER 2001.
OTHER EXPENSE-NET FOR THE YEAR ENDED DECEMBER 31, 2002 PRIMARILY
REFLECTS NON-CASH CHARGES IN CONNECTION WITH THE AMORTIZATION OF
GOODWILL IN THE AMOUNT OF PS.433,163 THOUSAND AND THE WRITE-OFF OF
UNAMORTIZED GOODWILL IN THE AMOUNT OF PS.1,066,997 THOUSAND; AS WELL
AS FEES AND EXPENSES FOR PROFESSIONAL SERVICES, DONATIONS AND A NET
LOSS IN DISPOSITION OF CERTAIN INVESTMENTS AND NON-CURRENT ASSETS FOR
AN AGGREGATE AMOUNT OF PS.388,485 THOUSAND.
INCOME TAXES
INCOME TAX, ASSETS TAX AND EMPLOYEES' PROFIT SHARING DECREASED BY
PS.272,086 THOUSAND TO PS.299,347 THOUSAND FOR THE YEAR ENDED DECEMBER
31, 2002 FROM A TAX PROVISION OF PS.571,433 THOUSAND FOR THE YEAR
ENDED DECEMBER 31, 2001. THIS DECREASE PRIMARILY REFLECTS A TAX
BENEFIT RESULTING FROM AN ANNUAL DECREASE IN THE CORPORATE INCOME TAX
RATE STARTING IN 2003 AND CONTINUING THROUGH 2005 WHEN THE CORPORATE
RATE WILL BE 32%, AND APPLICABLE TO MEXICAN COMPANIES IN ACCORDANCE
WITH THE MEXICAN INCOME TAX LAW. THE PROVISION FOR INCOME TAXES
PRIMARILY REFLECTED THE EFFECT OF RECOGNIZING ASSETS TAX (ALTERNATIVE
MINIMUM TAX) RATHER THAN INCOME TAX FOR CONSOLIDATION TAX PURPOSES IN
MEXICO FOR THE YEARS ENDED DECEMBER 31, 2002 AND 2001, AS WELL AS
INCOME TAXES ATTRIBUTABLE TO FOREIGN SUBSIDIARIES OF THE COMPANY FOR
THE YEAR ENDED DECEMBER 31, 2002.
EQUITY IN RESULTS OF AFFILIATES
EQUITY IN RESULTS OF AFFILIATES INCREASED BY PS.562,695 THOUSAND TO A
LOSS OF PS.1,114,566 THOUSAND FOR THE YEAR ENDED DECEMBER 31, 2002
FROM A LOSS OF PS.551,871 THOUSAND FOR THE YEAR ENDED DECEMBER 31,
2001. THIS INCREASE PRIMARILY REFLECTS THE RECOGNITION OF ADDITIONAL
EQUITY LOSSES OF THE COMPANY'S DTH JOINT VENTURE IN MEXICO ("INNOVA")
AND THE COMPANY'S MULTI-COUNTRY DTH JOINT VENTURE ("SKY MULTI-COUNTRY
PARTNERS") WITH CURRENT OPERATIONS IN COLOMBIA AND CHILE, AS DESCRIBED
BELOW. THIS INCREASE WAS SLIGHTLY OFFSET BY THE INCREASE OF THE EQUITY
IN INCOME RELATING TO THE COMPANY'S INVESTMENT IN UNIVISION.
DURING THE YEARS ENDED DECEMBER 31, 2001 AND 2002, THE COMPANY'S
INVESTMENT IN INNOVA HAS BEEN REPRESENTED BY A NET LIABILITY POSITION
ON THE COMPANY'S CONSOLIDATED BALANCE SHEET. THIS NET LIABILITY
POSITION CURRENTLY REPRESENTS EQUITY LOSSES RECOGNIZED IN EXCESS OF
THE COMPANY'S CAPITAL CONTRIBUTIONS AND LONG-TERM LOANS TO INNOVA, BUT
NOT IN EXCESS OF THE OUTSTANDING TOTAL DEBT INCURRED BY THIS JOINT
VENTURE IN CONNECTION WITH A TRANSPONDER CAPITAL LEASE BEING
GUARANTEED BY THE COMPANY. DURING THE YEAR ENDED DECEMBER 31, 2002,
THE COMPANY RECOGNIZED ADDITIONAL EQUITY IN LOSSES OF INNOVA, WHICH
PRIMARILY REFLECTED THE ADDITIONAL FUNDING TO INNOVA PROVIDED BY THE
COMPANY IN THE FIRST QUARTER OF 2002, AS WELL AS THE INCREASE IN THE
OUTSTANDING DEBT OF INNOVA BEING GUARANTEED BY THE COMPANY, AS A
RESULT OF THE DEPRECIATION OF THE MEXICAN PESO AS COMPARED TO THE U.S.
DOLLAR FOR THE YEAR ENDED DECEMBER 31, 2002. AS OF DECEMBER 31, 2002,
THE COMPANY'S INVESTMENT IN INNOVA WAS REPRESENTED BY A LIABILITY
POSITION OF PS.852,993 THOUSAND.
DURING THE YEARS ENDED DECEMBER 31, 2001 AND 2002, THE COMPANY'S
INVESTMENT IN SKY MULTI-COUNTRY PARTNERS HAS BEEN REPRESENTED BY A NET
LIABILITY POSITION ON THE COMPANY'S CONSOLIDATED BALANCE SHEET. THIS
NET LIABILITY POSITION HAS REPRESENTED EQUITY LOSSES RECOGNIZED IN
EXCESS OF THE COMPANY'S CAPITAL CONTRIBUTIONS TO SKY MULTI-COUNTRY
PARTNERS, BUT NOT IN EXCESS OF THE OUTSTANDING TOTAL DEBT INCURRED BY
THIS JOINT VENTURE IN CONNECTION WITH A TRANSPONDER CAPITAL LEASE
BEING GUARANTEED BY THE COMPANY. IN THE FOURTH QUARTER OF 2002, AS A
RESULT OF THE ECONOMIC DIFFICULTIES OF THIS JOINT VENTURE IN SOUTH
AMERICA, THE COMPANY RECOGNIZED AN ADDITIONAL EQUITY LOSS OF
PS.464,968 THOUSAND TO COVER THE OUTSTANDING TOTAL DEBT INCURRED BY
THIS JOINT VENTURE BEING GUARANTEED BY THE COMPANY. AS OF DECEMBER 31,
2002, THE COMPANY'S INVESTMENT IN SKY MULTI-COUNTRY PARTNERS WAS
REPRESENTED BY A LIABILITY POSITION OF PS.792,249 THOUSAND.
DISCONTINUED OPERATIONS
IN DECEMBER 2001, THE COMPANY ENTERED INTO AN AGREEMENT TO SELL ITS
MUSIC RECORDING OPERATIONS TO UNIVISION, AND CONSUMMATED THIS SALE IN
APRIL 2002. THE COMPANY NO LONGER ENGAGES IN THE MUSIC RECORDING
BUSINESS, AND THE RESULTS OF THE COMPANY'S MUSIC RECORDING SEGMENT FOR
THE YEAR ENDED DECEMBER 31, 2001 AND FOR THE SUBSEQUENT PERIOD WERE
CLASSIFIED AS DISCONTINUED OPERATIONS. AS CONSIDERATION FOR THE SALE
OF THIS BUSINESS, THE COMPANY RECEIVED 6,000,000 SHARES AND 100,000
WARRANTS (EXPIRING IN 2017) TO PURCHASE SHARES OF UNIVISION COMMON
STOCK, WHICH WERE RECOGNIZED AT THEIR FAIR VALUE ON THE AGREEMENT
DATE. AS A RESULT OF THIS TRANSACTION, THE COMPANY RECOGNIZED A GAIN
ON DISPOSITION OF THE MUSIC RECORDING BUSINESS OF PS.1,098,334
THOUSAND, NET OF RELATED COSTS, EXPENSES AND TAXES, WHICH WERE ALSO
REFLECTED AS DISCONTINUED OPERATIONS. IN CONJUNCTION WITH THIS
DISPOSAL, THE COMPANY MAY HAVE TO PAY CERTAIN ADJUSTMENTS TO UNIVISION
IN CONNECTION WITH AN AUDIT OF THE MUSIC RECORDING BUSINESS BY
UNIVISION, WHICH IS IN THE PROCESS OF BEING RESOLVED BY THE PARTIES.
WHILE THE COMPANY'S MANAGEMENT DOES NOT BELIEVE THAT ANY OF THESE
ADJUSTMENTS WILL BE MATERIAL IN AMOUNT OR IMPACT, THE COMPANY CAN GIVE
NO ASSURANCES IN THIS REGARD.
MINORITY INTEREST
THE MINORITY INTEREST REFLECTS THE PORTION OF THE OPERATING RESULTS
ATTRIBUTABLE TO THE INTEREST HELD BY THIRD PARTIES IN THE BUSINESSES
WHICH ARE NOT WHOLLY-OWNED BY THE COMPANY, INCLUDING THE COMPANY'S
CABLE TELEVISION, RADIO (SINCE OCTOBER 2001), AND NATIONWIDE PAGING
BUSINESSES.
MINORITY INTEREST DECREASED BY PS.97,674 THOUSAND TO A GAIN OF
PS.68,833 THOUSAND FOR THE YEAR ENDED DECEMBER 31, 2002 FROM A LOSS OF
PS.28,841 THOUSAND FOR THE YEAR ENDED DECEMBER 31, 2001. THIS DECREASE
PRIMARILY REFLECTS A DECREASE IN THE NET INCOME OF THE COMPANY'S CABLE
TELEVISION AND NATIONWIDE PAGING BUSINESSES FOR THE YEAR ENDED
DECEMBER 31, 2002, AS COMPARED TO THE YEAR ENDED DECEMBER 31, 2001.
NET INCOME
IN 2002, THE COMPANY HAD A NET INCOME OF PS.807,541 THOUSAND COMPARED
TO A NET INCOME OF PS.1,422,375 THOUSAND IN 2001. THE DECREASE OF
PS.614,834 THOUSAND IS DUE PRINCIPALLY TO:
o AN INCREASE IN INTEGRAL COST OF FINANCING OF PS.176,054 THOUSAND;
o AN INCREASE IN RESTRUCTURING AND NON-RECURRING CHARGES OF
PS.267,526 THOUSAND;
o AN INCREASE IN OTHER EXPENSE NET OF PS.1,446,722 THOUSAND; AND
o AN INCREASED EQUITY IN LOSSES OF AFFILIATES OF PS.562,695
THOUSAND.
THESE NEGATIVE VARIANCES WERE PARTIALLY OFFSET BY AN INCREASE IN
OPERATING INCOME OF PS.310,730 THOUSAND; A DECREASE IN INCOME TAXES OF
PS.272,086 THOUSAND; A NET INCREASE IN INCOME FROM DISCONTINUED
OPERATIONS OF PS.1,084,271 THOUSAND; A DECREASE IN CUMULATIVE LOSS
EFFECT OF ACCOUNTING CHANGE IN 2001 OF PS.73,402 THOUSAND; AND A
REDUCTION IN MINORITY INTEREST OF PS.97,674 THOUSAND.
DURING THE YEAR ENDED DECEMBER 31, 2002, THE COMPANY RECOGNIZED
CERTAIN SIGNIFICANT NON-RECURRING CHARGES THAT UNFAVORABLY AFFECTED
ITS NET INCOME FOR THE YEAR, AS FOLLOWS:
o A NON-CASH PS.325,383 THOUSAND CHARGE IN CONNECTION WITH THE
WRITE-OFF OF EXCLUSIVE RIGHT LETTER FOR SOCCER PLAYERS;
o A PS.163,431 THOUSAND CHARGE RELATED TO THE DRAWDOWN BY DIRECTV
UNDER A LETTER OF CREDIT POSTED BY THE COMPANY IN CONNECTION WITH
CERTAIN BROADCAST ARRANGEMENTS AND RELATED EXPENSES;
o A NON-CASH PS.1,066,997 THOUSAND CHARGE IN CONNECTION WITH THE
WRITE-OFF OF UNAMORTIZED GOODWILL RELATED TO CERTAIN BUSINESSES
ACQUIRED BY THE COMPANY IN PRIOR YEARS, WHICH LONG-LIVED ASSETS
WERE EVALUATED FOR RECOVERABILITY; AND
o A NON-CASH PS.464,968 THOUSAND CHARGE FOR THE RECOGNITION OF
ADDITIONAL EQUITY LOSSES TO COVER THE TOTAL OUTSTANDING CAPITAL
LEASE DEBT BALANCE OF THE MULTI-COUNTRY DTH JOINT VENTURE IN
SOUTH AMERICA BEING GUARANTEED BY THE COMPANY.
HAD THESE SIGNIFICANT NON-RECURRING CHARGES NOT BEEN RECOGNIZED BY THE
COMPANY IN THE YEAR ENDED DECEMBER 31, 2002, THE NET INCOME FOR THE
YEAR, AFTER THE RELATED INCOME TAX EFFECT, WOULD HAVE INCREASED TO
PS.2,660,489 THOUSAND.
RESULTS BY BUSINESS SEGMENT
TELEVISION BROADCASTING
TELEVISION BROADCASTING SALES INCREASED 4.4% TO PS.14,038,272 THOUSAND
IN 2002 FROM PS.13,445,481 THOUSAND IN 2001. THIS INCREASE IS LARGELY
ATTRIBUTABLE TO THE TRANSMISSION OF THE WORLD CUP IN THE SECOND
QUARTER OF 2002 AND THE RECORD INCREASE OF 19.5% IN OUR LOCAL SALES
DRIVEN BY CHANNEL 4. EXCLUDING THE WORLD CUP, TELEVISION BROADCASTING
SALES INCREASED 1.7% IN 2002.
TELEVISION BROADCASTING COST OF SALES INCREASED 2.3% MAINLY DUE TO THE
TRANSMISSION OF THE WORLD CUP IN THE SECOND QUARTER OF 2002. EXCLUDING
THIS SPECIAL EVENT, COST OF SALES DECREASED 0.2%, DUE TO LOWER COSTS
ASSOCIATED WITH IMPROVEMENTS AND EFFICIENCIES IN THE PRODUCTION OF
TELENOVELAS, NEWSCASTS AND SITCOMS.
TELEVISION BROADCASTING OPERATING INCOME INCREASED 7.3% (PS.4,564,368
THOUSAND IN 2002 AND PS.4,251,993 THOUSAND IN 2001), RELATED TO HIGHER
SALES, PARTIALLY OFFSET BY HIGHER COSTS ASSOCIATED WITH THE
TRANSMISSION OF THE WORLD CUP; AN INCREASE IN OPERATING EXPENSES
RELATED TO A HIGHER PROVISION FOR DOUBTFUL TRADE ACCOUNTS; AS WELL AS
HIGHER DEPRECIATION COSTS DUE TO TECHNICAL AND TRANSPORTATION
EQUIPMENT. EXCLUDING THE TRANSMISSION OF THE WORLD CUP, TELEVISION
BROADCASTING OPERATING INCOME INCREASED 2.9%.
PROGRAMMING FOR PAY TELEVISION
THE INCREASE IN PROGRAMMING FOR PAY TELEVISION SALES OF 11.9% TO
PS.608,031 THOUSAND IN 2002 AS COMPARED TO PS.543,553 THOUSAND IN 2001
WAS DUE TO HIGHER REVENUES FROM SIGNALS SOLD TO PAY TELEVISION SYSTEMS
IN MEXICO, PARTIALLY OFFSET BY LOWER REVENUES FROM SIGNALS SOLD TO PAY
TELEVISION SYSTEMS IN LATIN AMERICA AND SPAIN, AS WELL AS LOWER
ADVERTISING SALES.
PROGRAMMING FOR PAY TELEVISION OPERATING INCOME INCREASED 33.0%
(PS.60,260 THOUSAND IN 2002 AND PS.45,302 THOUSAND IN 2001), DUE TO
HIGHER SALES, PARTIALLY OFFSET BY HIGHER SIGNAL COSTS AND OPERATING
EXPENSES DUE TO AN INCREASE IN THE PROVISION FOR DOUBTFUL TRADE
ACCOUNTS RELATED TO LATIN AMERICA.
PROGRAMMING LICENSING
THE DECREASE IN PROGRAMMING LICENSING SALES OF 5.4% TO PS.1,405,174
THOUSAND IN 2002 COMPARED TO PS.1,484,983 THOUSAND IN 2001 REFLECTS
LOWER EXPORT SALES TO LATIN AMERICA DUE TO THE DIFFICULT ECONOMIC
CONDITIONS IN THAT REGION AS WELL AS IN EUROPE. THESE DECREASES WERE
PARTIALLY OFFSET BY HIGHER EXPORT SALES TO ASIA AND AFRICA. IN 2002,
THE COMPANY RECEIVED U.S.$77.7 MILLION IN ROYALTIES FROM UNIVISION,
RELATED TO THE UNIVISION AND GALAVISION NETWORKS. BEGINNING IN 2003,
WE WILL RECEIVE FROM UNIVISION AN ADDITIONAL 12% IN ROYALTIES FROM THE
NET TIME SALES OF THE TELEFUTURA NETWORK, SUBJECT TO CERTAIN
ADJUSTMENTS.
PROGRAMMING LICENSING OPERATING INCOME DECREASED 29.0% (PS.217,989
THOUSAND IN 2002 AND PS.307,153 THOUSAND IN 2001), REFLECTING LOWER
SALES AND AN INCREASE IN SELLING EXPENSES DUE TO A HIGHER PROVISION
FOR DOUBTFUL TRADE ACCOUNTS IN LATIN AMERICA, PARTIALLY OFFSET BY
LOWER COST OF SALES AND ADMINISTRATIVE EXPENSES, ASSOCIATED WITH A
COST REDUCTION OF PRODUCING, DISTRIBUTING AND DUBBING OUR PROGRAMS.
PUBLISHING
PUBLISHING SALES MARGINALLY DECREASED 0.3% TO PS.1,670,715 THOUSAND IN
2002 FROM PS.1,676,316 THOUSAND IN 2001 DUE TO A LOWER CIRCULATION OF
MAGAZINES IN THE DOMESTIC MARKET AND ABROAD, AS WELL AS A REDUCTION IN
THE NUMBER OF ADVERTISING PAGES SOLD IN THE INTERNATIONAL MARKET.
THESE DECREASES WERE PARTIALLY OFFSET BY AN INCREASE IN THE NUMBER OF
ADVERTISING PAGES SOLD IN THE DOMESTIC MARKET DUE TO THE LAUNCH OF NEW
MAGAZINES, AND BY THE TRANSLATION EFFECT ON FOREIGN-CURRENCY
DENOMINATED SALES WHICH AMOUNTED TO PS.46,394 THOUSAND.
PUBLISHING OPERATING INCOME INCREASED MARGINALLY 0.5% (PS.252,320
THOUSAND IN 2002 AND PS.251,182 THOUSAND IN 2001).
PUBLISHING DISTRIBUTION
PUBLISHING DISTRIBUTION SALES INCREASED 41.7% TO PS.1,343,765 THOUSAND
IN 2002 AS COMPARED WITH PS.948,231 THOUSAND IN 2001, DUE TO THE
INTEGRATION OF REVENUE FROM THE ACQUISITION OF THE OPERATIONS IN CHILE
IN THE SECOND QUARTER. EXCLUDING THIS ACQUISITION, PUBLISHING
DISTRIBUTION SALES DECREASED 9.7%.
PUBLISHING DISTRIBUTION OPERATING INCOME DECREASED BY PS.10,398
THOUSAND TO A LOSS OF PS.1,854 THOUSAND IN 2002 DUE TO HIGHER COST OF
SALES AND OPERATING EXPENSES, PARTIALLY OFFSET BY HIGHER SALES
REFLECTING THE ACQUISITION OF THE DISTRIBUTION PLATFORMS IN CHILE.
WITHOUT THIS ACQUISITION, OPERATING INCOME DECREASED BY PS.20,039
THOUSAND TO A LOSS OF PS.11,495 THOUSAND AS COMPARED WITH 2001.
CABLE TELEVISION
CABLE TELEVISION SALES DECREASED 3.1% (PS.1,108,200 THOUSAND IN 2002
AND PS.1,143,932 THOUSAND IN 2001). THIS DECREASE IS ATTRIBUTABLE TO
THREE FACTORS: THE NEGATIVE IMPACT OF THE NEW 10% TAX ON
TELECOMMUNICATIONS SERVICES, EFFECTIVE SINCE JANUARY 1, 2002; THE LOSS
OF SUBSCRIBERS DURING 2002 AS COMPARED TO LAST YEAR; AND A DECREASE IN
ADVERTISING SALES. THIS DECREASE IN CABLE TELEVISION SALES WAS
PARTIALLY OFFSET BY A 23.1% AND 10.3% INCREASE IN THE BASIC AND
DIGITAL PACKAGES, RESPECTIVELY, AS WELL AS HIGHER REVENUES FROM OUR
CABLE MODEM SERVICE. AT THE END OF THE FOURTH QUARTER OF 2002 BASIC
SUBSCRIBERS TOTALED OVER 412,000, OF WHICH APPROXIMATELY 65,000 ARE
DIGITAL SUBSCRIBERS.
CABLE TELEVISION OPERATING INCOME DECREASED 19.6% (PS.201,464 THOUSAND
IN 2002 AND PS.250,614 THOUSAND IN 2001), DUE TO LOWER SALES AND
HIGHER SIGNAL AND DEPRECIATION COSTS, DUE TO THE UPGRADING PROCESS IN
THE NETWORK, AND THE ACQUISITION OF DIGITAL BOXES. THIS DECREASE WAS
PARTIALLY OFFSET BY LOWER SELLING EXPENSES RELATED TO LOWER MARKETING
COSTS.
RADIO
RADIO SALES DECREASED 24.9% (PS.187,062 THOUSAND IN 2002 AND
PS.249,151 THOUSAND IN 2001), DUE TO A DECLINE IN ADVERTISING TIME
SOLD, REFLECTING THE DIFFICULT ECONOMIC ENVIRONMENT THAT IS ADVERSELY
AFFECTING THE MEXICAN RADIO INDUSTRY.
RADIO OPERATING LOSS INCREASED BY PS.29,809 THOUSAND (OPERATING LOSS
OF PS.45,738 THOUSAND IN 2002 AND OPERATING LOSS OF PS.15,929 THOUSAND
IN 2001), REFLECTING THE REDUCTION IN REVENUES. THIS DECREASE WAS
PARTIALLY OFFSET BY A REDUCTION IN COST OF SALES AS WELL AS IN
OPERATING EXPENSES, DUE TO PERSONNEL LAYOFFS AND LOWER SALES
COMMISSIONS.
OTHER BUSINESSES
THE DECREASE IN OTHER BUSINESSES SALES OF 7.8% (PS.1,481,611 THOUSAND
IN 2002 AND PS.1,607,436 THOUSAND IN 2001), WAS PRIMARILY DUE TO LOWER
SALES IN THE NATIONWIDE PAGING BUSINESS AND IN OUR INTERNET PORTAL.
THESE DECREASES WERE PARTIALLY OFFSET BY HIGHER SALES IN THE SPORTS
EVENTS AND IN THE DISTRIBUTION OF FEATURE FILM PRODUCTIONS BUSINESSES.
OTHER BUSINESSES OPERATING LOSS DECREASED BY PS.154,804 THOUSAND
(OPERATING LOSS OF PS.447,324 THOUSAND IN 2002 AND OPERATING LOSS OF
PS.602,128 THOUSAND IN 2001), DUE TO A REDUCTION IN COSTS OF SALES AND
OPERATING EXPENSES PARTIALLY OFFSET BY LOWER REVENUES.
INTERSEGMENT SALES
INTERSEGMENT SALES FOR 2002 AND 2001, AMOUNTED TO PS.363,153 THOUSAND
AND PS.549,671 THOUSAND, RESPECTIVELY.
CORPORATE EXPENSES
CORPORATE EXPENSES FOR 2002 AND 2001, AMOUNTED TO PS.143,515 THOUSAND
AND PS.142,877 THOUSAND, RESPECTIVELY.
DISPOSED OPERATIONS
NET SALES OF DISPOSED OPERATIONS RELATED TO MERKATEL (A TELEPHONE
SERVICE COMPANY) FOR 2002 AND 2001, AMOUNTED TO PS.79,592 THOUSAND AND
PS.236,170 THOUSAND, RESPECTIVELY.
THE OPERATING RESULT FROM DISPOSED OPERATIONS RELATED TO ECO AND
MERKATEL FOR 2002 AND 2001, AMOUNTED TO AN OPERATING LOSS OF PS.7,640
THOUSAND AND AN OPERATING LOSS OF PS.14,254 THOUSAND, RESPECTIVELY.
SKY
INNOVA, S. DE R.L. DE C.V., THE PAY-TV MARKET LEADER IN MEXICO,
PROVIDING DIRECT-TO-HOME (DTH) SATELLITE TELEVISION SERVICES UNDER THE
SKY BRAND NAME, REPORTED RESULTS FOR THE FOURTH QUARTER AND FULL YEAR
2002. FINANCIAL AND OPERATING HIGHLIGHTS ARE AS FOLLOWS:
o GROSS ACTIVE SUBSCRIBERS INCREASED 2.0% TO 705,900 AS OF DECEMBER
31, 2002 FROM 692,000 AT THE END OF THE PREVIOUS YEAR.
o EBITDA FOR THE FULL YEAR 2002 INCREASED 37.0% TO PS.934.1 MILLION
FROM PS.681.8 MILLION FOR THE PRIOR YEAR. AS A RESULT, EBITDA
MARGIN INCREASED 30.8% FROM 20.8% TO 27.2%.
o EBIT FOR THE FULL YEAR 2002 IMPROVED PS.275.7 MILLION TO PS.9.0
MILLION FROM AND OPERATING LOSS OF PS.266.7 MILLION FOR THE PRIOR
YEAR. AS A RESULT, EBIT MARGIN SUBSTANTIALLY INCREASED FROM A
NEGATIVE 8.2% TO A POSITIVE 0.3%.
o SKY DID NOT REQUIRE FUNDING FROM ITS SHAREHOLDERS DURING THE LAST
THREE QUARTERS OF 2002.
o SKY CONTINUES TO OFFER THE HIGHEST QUALITY CONTENT IN THE MEXICAN
PAY TV INDUSTRY.
FOR FURTHER REFERENCE, SEE THE INNOVA, S. DE R.L. DE C.V. FOURTH
QUARTER AND FULL YEAR 2002 RESULTS PRESS RELEASE.
CAPITAL EXPENDITURES, ACQUISITIONS AND INVESTMENTS
DURING 2002, THE COMPANY INVESTED APPROXIMATELY U.S.$135.2 MILLION IN
PROPERTY, PLANT AND EQUIPMENT AS CAPITAL EXPENDITURES OF WHICH
APPROXIMATELY U.S.$18.8 MILLION IS RELATED TO CABLEVISION.
ADDITIONALLY, IN THE LAST YEAR THE COMPANY INVESTED APPROXIMATELY
U.S.$32.5 IN OUR DTH VENTURES (U.S.$17.7 MILLION IN THE MEXICO DTH
VENTURE, INNOVA, IN THE FORM OF LONG-TERM LOANS AND U.S.$14.8 MILLION
IN THE MULTI-COUNTRY DTH VENTURE IN SOUTH AMERICA).
IN OCTOBER 2002, THE COMPANY ACQUIRED 40% OF OCESA ENTRETENIMIENTO,
S.A. DE C.V., A NEWLY FORMED SUBSIDIARY OF CORPORACION INTERAMERICANA
DE ENTRETENIMIENTO, S.A. DE C.V. (CIE), THAT OWNS ALL OF THE ASSETS
RELATED TO CIE'S LIVE ENTERTAINMENT BUSINESS UNIT IN MEXICO, FOR
U.S.$107.2 MILLION. GRUPO TELEVISA MADE AN INITIAL PAYMENT OF
APPROXIMATELY U.S.$67 MILLION AND IT IS EXPECTED THAT THE REMAINING
BALANCE WILL BE PAID DURING THE FIRST QUARTER OF 2003.
DEBT
AS OF DECEMBER 31, 2002, THE COMPANY'S LONG-TERM DEBT AMOUNTED TO
PS.13,345,215 THOUSAND, AND ITS CURRENT DEBT WAS PS.1,239,880
THOUSAND, AS COMPARED TO PS.13,550,537 THOUSAND AND PS.353,889
THOUSAND, RESPECTIVELY, AS OF DECEMBER 31, 2001.
EFFECTIVE MARCH 1, 2002, THE COMPANY DESIGNATED ITS NET INVESTMENT IN
SHARES OF UNIVISION AS AN EFFECTIVE HEDGE OF BOTH ITS U.S.$300 MILLION
SENIOR NOTES DUE IN 2011 AND U.S.$ 300 MILLION SENIOR NOTES DUE IN
2032. CONSEQUENTLY, BEGINNING MARCH 1, 2002, ANY FOREIGN EXCHANGE GAIN
OR LOSS ATTRIBUTABLE TO THIS U.S. DOLLAR LONG-TERM DEBT WILL BE
CREDITED OR CHARGED DIRECTLY TO OTHER COMPREHENSIVE INCOME OR LOSS IN
STOCKHOLDERS' EQUITY, AS BEING HEDGED BY THE COMPANY'S NET INVESTMENT
IN SHARES OF UNIVISION.
SHARE BUYBACK PROGRAM
IN SEPTEMBER 2002, THE COMPANY ANNOUNCED A SHARE REPURCHASE PROGRAM.
UNDER THE TERMS OF THE PROGRAM, THE COMPANY MAY, AT MANAGEMENT'S
DISCRETION, ACQUIRE STOCK SUBJECT TO LEGAL, MARKET AND OTHER
CONDITIONS AT THE TIME OF PURCHASE. THE COMPANY STARTED REPURCHASING
SHARES IN 2003, AND AS OF FEBRUARY 26, 2003, 19,030,200 SHARES IN THE
FORM OF 6,343,400 CPOS HAD BEEN REPURCHASED BY THE COMPANY UNDER THIS
PROGRAM FOR AN AGGREGATE AMOUNT OF PS.84,631 THOUSAND.
DIVIDEND PAYMENT
THE BOARD OF DIRECTORS DECIDED TODAY TO PROPOSE AT OUR NEXT
SHAREHOLDER MEETING AN ANNUAL DIVIDEND PAYMENT PLAN, STARTING IN 2003.
THE AMOUNT OF THE DIVIDEND PAYMENTS WILL BE PROPOSED ON AN ANNUAL
BASIS BY THE BOARD OF DIRECTORS BASED ON THE COMPANY'S RESULTS OF
OPERATIONS, FINANCIAL CONDITION, INVESTMENTS AND OTHER RELEVANT
FACTORS. FOR 2003, THE BOARD DECIDED TO PROPOSE THE PAYMENT OF A
DIVIDEND IN THE AMOUNT OF PS.550 MILLION.
ADVERTISING SALES PLAN
AS OF DECEMBER 31, 2002, WE HAD RECEIVED AGGREGATE UPFRONT ADVERTISING
DEPOSITS FOR TELEVISION ADVERTISING OF APPROXIMATELY PS.11,305
MILLION. THE DEPOSITS AS OF DECEMBER 31, 2002 REPRESENTED A 7.9%
NOMINAL INCREASE, OR 2.4% IN REAL TERMS, AS COMPARED TO THE PRIOR
YEAR.
APPROXIMATELY 62.6% OF THE ADVANCED PAYMENT DEPOSITS AS OF DECEMBER
31, 2002 WERE IN THE FORM OF SHORT-TERM, NON-INTEREST BEARING NOTES
RECEIVABLE THE FOLLOWING YEAR, WITH THE REMAINDER CONSISTING OF CASH
DEPOSITS. THE WEIGHTED AVERAGE MATURITY OF THESE NOTES ON DECEMBER 31,
2002 WAS 3.5 MONTHS. IN COMPARISON, APPROXIMATELY 60.6% OF THE
DEPOSITS AS OF DECEMBER 31, 2001, WERE IN THE FORM OF SHORT-TERM,
NON-INTEREST BEARING NOTES, WITH THE REMAINDER CONSISTING OF CASH
DEPOSITS. THE WEIGHTED AVERAGE MATURITY OF THESE NOTES ON DECEMBER 31,
2001 WAS 4.0 MONTHS.
TELEVISION RATINGS AND AUDIENCE SHARE
NATIONAL URBAN RATINGS AND AUDIENCE SHARE REPORTED BY IBOPE CONFIRM
THAT IN 2002, TELEVISA INCREASED ITS RATINGS AND AUDIENCE SHARE.
DURING PRIME-TIME, AUDIENCE SHARE AMOUNTED TO 72.5%; FROM 16:00 TO
23:00 HOURS, AUDIENCE SHARE AMOUNTED TO 72.4%; AND IN SIGN-ON TO
SIGN-OFF, AUDIENCE SHARE AMOUNTED TO 74.4%.
IN 2002, TELEVISA AIRED 93 OF THE 100 MOST POPULAR PROGRAMS. CHANNEL 2
CONTINUES TO BE THE LEADER IN MEXICAN TELEVISION LARGELY DUE TO THE
SUCCESS OF THE FOLLOWING TELENOVELAS: "EL MANANTIAL," "SALOME," "ENTRE
EL AMOR Y EL ODIO" AND "LAS VIAS DEL AMOR."
OUTLOOK FOR 2003
ASSUMING A CONTINUED GRADUAL IMPROVEMENT IN THE ECONOMIC CLIMATE, WE
BELIEVE THAT TELEVISION BROADCASTING SALES WILL REFLECT A MARGINAL
INCREASE IN THE FIRST QUARTER OF 2003, AS COMPARED TO THE FIRST
QUARTER OF LAST YEAR. THIS TREND SHOULD GAIN MOMENTUM IN THE SECOND
QUARTER OF 2003, DURING MEXICO'S MID-TERM ELECTION SEASON AND THE
RESULTING POLITICAL ADVERTISING CAMPAIGNS. FOR THE FULL YEAR 2003, WE
EXPECT TELEVISION BROADCASTING SALES TO INCREASE IN THE LOW SINGLE
DIGIT RANGE, AND TELEVISION BROADCASTING AND CONSOLIDATED EBITDA
MARGIN TO BE AT 40% AND 30%, RESPECTIVELY.
GRUPO TELEVISA S.A., IS THE LARGEST MEDIA COMPANY IN THE
SPANISH-SPEAKING WORLD, AND A MAJOR PLAYER IN THE INTERNATIONAL
ENTERTAINMENT BUSINESS. IT HAS INTERESTS IN TELEVISION PRODUCTION AND
BROADCASTING, PROGRAMMING FOR PAY TELEVISION, INTERNATIONAL
DISTRIBUTION OF TELEVISION PROGRAMMING, DIRECT-TO-HOME SATELLITE
SERVICES, PUBLISHING AND PUBLISHING DISTRIBUTION, CABLE TELEVISION,
RADIO PRODUCTION AND BROADCASTING, PROFESSIONAL SPORTS AND SHOW
BUSINESS PROMOTIONS, PAGING SERVICES, FEATURE FILM PRODUCTION AND
DISTRIBUTION, DUBBING, AND THE OPERATION OF A HORIZONTAL INTERNET
PORTAL. GRUPO TELEVISA ALSO HAS AN UNCONSOLIDATED EQUITY STAKE IN
UNIVISION, THE LEADING SPANISH-LANGUAGE TELEVISION COMPANY IN THE
UNITED STATES.
THIS DIRECTOR REPORT 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 DIRECTOR REPORT SHOULD BE READ IN CONJUNCTION WITH THE FACTORS
DESCRIBED IN "ITEM 1. DESCRIPTION OF BUSINESS - CAUTIONARY STATEMENT"
IN THE COMPANY'S ANNUAL REPORT ON FORM 20-F, WHICH, AMONG OTHERS,
COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FOR THOSE CONTAINED IN
FORWARD-LOOKING STATEMENTS MADE IN THIS DIRECTOR REPORT 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.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 4 YEAR: 2002
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 YEARS
ENDED DECEMBER 31, 2002 AND 2001
(IN THOUSANDS OF MEXICAN PESOS IN PURCHASING POWER AS OF DECEMBER 31, 2002,
EXCEPT PER SHARE AND UDI VALUES)
1. ACCOUNTING POLICIES:
THE CONDENSED FINANCIAL STATEMENTS OF GRUPO TELEVISA, S.A. (THE
"COMPANY") AND ITS CONSOLIDATED SUBSIDIARIES (COLLECTIVELLY, THE
"GROUP"), AS OF DECEMBER 31, 2002 AND 2001, AND FOR THE YEARS 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, 2001 AND
2000, WHICH INCLUDE, AMONG OTHER DISCLOSURES, THE GROUP'S MOST
SIGNIFICANT ACCOUNTING POLICIES, WHICH HAVE BEEN APPLIED ON A
CONSISTENT BASIS FOR THE YEARS ENDED DECEMBER 31, 2002.
2. PROPERTY, PLANT AND EQUIPMENT:
PROPERTY, PLANT AND EQUIPMENT AS OF DECEMBER 31, CONSISTED OF:
2002 2001
------------- --------------
BUILDINGS PS. 6,519,940 PS. 6,500,145
TECHNICAL EQUIPMENT 9,737,672 9,155,196
FURNITURE AND FIXTURES 518,847 528,668
TRANSPORTATION EQUIPMENT 949,051 460,405
COMPUTER EQUIPMENT 709,181 675,679
INSTALLATION COSTS 742,253 701,160
------------- --------------
19,176,944 18,021,253
ACCUMULATED DEPRECIATION (8,981,658) (7,770,072)
------------- --------------
10,195,286 10,251,181
LAND 3,457,256 3,471,500
CONSTRUCTION IN PROGRESS 1,035,620 450,959
------------- --------------
PS.14,688,162 PS. 14,173,640
============= ==============
PROPERTY, PLANT AND EQUIPMENT INCLUDES CAPITALIZED FINANCING COSTS OF
PS.1,430,452 AND PS.1,430,452 AS OF DECEMBER 31, 2002 AND 2001,
RESPECTIVELY.
ACCUMULATED DEPRECIATION INCLUDES DEPRECIATION OF CAPITALIZED
FINANCING COSTS OF PS.530,712 AND PS.456,521 AS OF DECEMBER 31, 2002
AND 2001, RESPECTIVELY.
DEPRECIATION CHARGED TO INCOME FOR THE YEARS ENDED DECEMBER 31, 2002
AND 2001, WAS PS.953,671 AND PS.866,476, RESPECTIVELY.
3. LONG-TERM DEBT SECURITIES:
AS OF DECEMBER 31, THE COMPANY'S LONG-TERM DEBT SECURITIES OUTSTANDING WERE
AS FOLLOWS:
2002 2001
--------------------- ----------------------
U.S. DOLLAR U.S. DOLLAR
PRINCIPAL PRINCIPAL
AMOUNTS MEXICAN AMOUNTS MEXICAN
LONG-TERM SECURITIES (THOUSANDS) PESOS (THOUSANDS) PESOS
--------------------------------- ----------- --------- ----------- ----------
11.375% SERIES "A" SENIOR NOTES
DUE 2003 (A) $ 68,847 PS. 720,415 $ 68,847 PS. 667,900
11.875% SERIES "B" SENIOR NOTES
DUE 2006 (A) 5,343 55,909 5,343 51,834
8.625% SENIOR NOTES DUE 2005 (B) 200,000 2,092,800 200,000 1,940,244
8.000% SENIOR NOTES DUE 2011 (C) 300,000 3,139,200 300,000 2,910,366
8.500% SENIOR NOTES DUE 2032 (D) 300,000 3,139,200 - -
------- ------------ -------- ------------
$874,190 9,147,524 $574,190 5,570,344
======== ========
UDI-DENOMINATED NOTES DUE 2007 (E) 3,503,220 3,507,205
------------- ------------
PS.12,650,744 PS.9,077,549
============= ============
(A) INTEREST ON THE SERIES A SENIOR NOTES AND SERIES B SENIOR NOTES,
INCLUDING ADDITIONAL AMOUNTS PAYABLE IN RESPECT OF CERTAIN MEXICAN
WITHHOLDING TAXES, IS 11.96% AND 12.49% PER ANNUM, RESPECTIVELY, AND IS
PAYABLE SEME-ANNUALLY. 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) INTEREST ON THESE SENIOR NOTES, INCLUDING ADDITIONAL AMOUNTS
PAYABLE IN RESPECT OF CERTAIN MEXICAN WITHHOLDING TAXES, IS 9.07% PER
ANNUM, AND IS PAYABLE SEMI-ANNUALLY.
(C) IN THE THIRD QUARTER OF 2001, THE COMPANY ISSUED U.S.$300 MILLION
10-YEAR SENIOR NOTES WITH A COUPON RATE OF 8%. THE SENIOR NOTES WERE PRICED
AT 98.793% FOR A YIELD TO MATURITY OF 8.179%. THE PROCEEDS OF THIS OFFERING
WERE USED TO REPAY ALL OF THE REMAINING AMOUNTS THEN OUTSTANDING UNDER THE
COMPANY'S U.S.$400 MILLION SYNDICATED LOAN WITH AN ORIGINAL MATURITY IN
2003. INTEREST ON THESE SENIOR NOTES, INCLUDING ADDITIONAL AMOUNTS PAYABLE
IN RESPECT OF CERTAIN MEXICAN WITHHOLDING TAXES, IS 8.41% PER ANNUM, AND IS
PAYABLE SEMI-ANNUALLY.
(D) IN MARCH 2002, THE COMPANY ISSUED U.S.$300 MILLION 30-YEAR SENIOR
NOTES WITH A COUPON RATE OF 8.5%. THE SENIOR NOTES WERE PRICED AT 99.431%
FOR A YIELD TO MATURITY OF 8.553%. A PORTION OF THE NET PROCEEDS OF THIS
OFFERING WERE USED TO REPAY ALL OF THE AMOUNTS THEN OUTSTANDING UNDER A
U.S.$276 MILLION BRIDGE LOAN FACILITY WITH AN ORIGINAL MATURITY IN DECEMBER
2002. INTEREST ON THESE SENIOR NOTES, INCLUDING ADDITIONAL AMOUNTS PAYABLE
IN RESPECT OF CERTAIN MEXICAN WITHHOLDING TAXES, IS 8.94% PER ANNUM, AND IS
PAYABLE SEMI-ANNUALLY.
(E) IN THE SECOND QUARTER OF 2000, THE COMPANY ISSUED IN THE MEXICAN
MARKET NOTES DENOMINATED IN MEXICAN INVESTMENT UNITS ("UNIDADES DE
INVERSION" OR "UDIS") FOR AN AMOUNT OF PS.3,000,000 (NOMINAL), REPRESENTING
1,086,007,800 UDIS, WITH AN ANNUAL INTEREST RATE OF 8.15% AND MATURITY IN
2007. INTEREST ON THESE NOTES IS PAYABLE SEMI-ANNUALLY. THE BALANCE AS OF
DECEMBER 31, 2002 AND 2001 INCLUDES RESTAMENT OF PS.503,220 AND PS.336,181,
RESPECTIVELY. THE UDI VALUE AS OF DECEMBER 31, 2002, WAS OF PS. 3.225778
PER ONE UDI.
THE SENIOR NOTES DUE IN 2003, 2005, 2006, 2011 AND 2032 MAY NOT BE REEDEMED
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.
THE SENIOR NOTES DUE IN 2005, 2011 AND 2032 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 THE SENIOR NOTES DUE 2005, 2011 AND 2032 CONTAINS CERTAIN
COVENANTS THAT LIMIT THE ABILITY OF THE COMPANY AND ITS RESTRICTED
SUBSIDIARIES ENGAGED IN TELEVISION BROADCASTING, PROGRAMMING FOR PAY
TELEVISION AND PROGRAMMING LICENSING, TO INCUR OR ASSUME LIENS, PERFORM
SALE AND LEASEBACK TRANSACTIONS, AND CONSUMMATE CERTAIN MERGERS,
CONSOLIDATIONS AND SIMILAR TRANSACTIONS. SUBSTANTALLY ALL OF THE SENIOR
NOTES DUE 2005, 2011 AND 2032 ARE REGISTERED WITH THE U.S. SECURITIES AND
EXCHANGE COMMISSION.
EFFECTIVE MARCH 1, 2002, THE GROUP DESIGNATED ITS NET INVESTMENT IN SHARES
OF UNIVISION AS AN EFFECTIVE HEDGE OF ITS U.S.$300 MILLION SENIOR NOTES DUE
IN 2011 AND ITS U.S.$300 MILLION SENIOR NOTES DUE IN 2032. CONSEQUENTLY,
BEGINNING MARCH 1, 2002, 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 BEING CREDITED OR CHARGED DIRECTLY TO
EQUITY (OTHER COMPREHENSIVE INCOME OR LOSS - FOREIGN CURRENCY TRANSLATION)
(SEE NOTE 7).
4. CONTINGENCIES:
PAYMENTS TO BE MADE BY CERTAIN MEXICAN COMPANIES IN THE GROUP TO
EMPLOYEES IN CASE OF DISMISSAL AND UNDER CERTAIN CIRCUMSTANCES PROVIDED BY
THE MEXICAN LABOR LAW ARE EXPENSED AS INCURRED.
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 DECEMBER 31, IS ANALYZED AS
FOLLOWS:
2002 2001
--------------------------- ----------------------------
NOMINAL RESTATED NOMINAL RESTATED
PESOS PESOS PESOS PESOS
------------ ------------- ------------- -------------
CAPITAL STOCK PS.1,512,083 PS. 7,368,706 PS. 1,513,427 PS. 7,375,291
------------ -------------
ADDITIONAL PAID-IN
CAPITAL 187,824 216,458 187,428 216,056
------------ -------------
LEGAL RESERVE 585,029 1,184,044 517,746 1,112,925
------------ -------------
RESERVE FOR REPUR-
CHASE OF SHARES 2,695,761 5,516,855 2,695,761 5,516,855
------------ -------------
UNAPPROPIATED EARNINGS 6,148,312 10,986,048 4,816,043 9,091,250
------------ -------------
ACCUMULATED EFFECT OF
DEFERRED INCOME TAXES (2,197,681) (2,642,542) (2,197,681) (2,642,542)
------------ -------------
NET INCOME FOR THE
NINE-MONTH PERIOD - 807,541 1,345,662 1,422,375
------------ -------------
DEFICIT FROM RESTATE-
MENT - (3,098,400) - (3,327,140)
------------ ------------- ------------
TOTAL MAJORITY STOCK-
HOLDERS' EQUITY PS.20,338,710 PS.18,765,070
============== ==============
IN SEPTEMBER 2002, IN CONNECTION WITH THE APPROVAL OF THE COMPANY'S
SHAREHOLDERS TO ISSUE ADDITIONAL SERIES "A" SHARES IN AN AGGREGATE AMOUNT
OF UP TO 4.5% OF THE COMPANY'S OUTSTANDING CAPITAL STOCK (430,350,671
SERIES "A" SHARES) ON APRIL 30, 2002, AND IN CONJUNCTION WITH PREEMPTIVE
RIGHTS EXERCISED BY CERTAIN EXISTING HOLDERS OF SERIES "A" SHARES, THE
COMPANY INCREASED ITS CAPITAL STOCK IN THE AMOUNT OF PS.410 BY ISSUING
ADDITIONAL 43,117 SERIES "A" SHARES (NOT IN THE FORM OF CPOS), OF WHICH
PS.403 WERE RECOGNIZED AS ADDITIONAL PAID-IN CAPITAL. FOLLOWING THIS
CAPITAL STOCK INCREASE, A REMAINING OF 430,307,554 UNISSUED AUTHORIZED
SERIES "A" MAY BE USED BY THE COMPANY FOR ONE OR TWO SPECIAL PURPOSE
TRUSTS.
AS OF DECEMBER 31, 2002 AND 2001, CAPITAL STOCK IS NET OF SHARES
REPURCHASED OF PS.496,922 (NOMINAL PS.72,047) AND PS.503,507 (NOMINAL
PS.70,703), RESPECTIVELY.
AT DECEMBER 31, 2002, THE COMPANY'S NUMBER OF SHARES OF CAPITAL STOCK
AUTHORIZED, ISSUED, REPURCHASED AND OUTSTANDING CONSISTED OF:
SHARES AUTHORIZED ISSUED REPURCHASED (*) OUSTANDING
---------- ------------- ------------- --------------- -------------
SERIES "A" 5,021,050,671 4,590,743,117 110,943,593 4,479,799,524
SERIES "L" 2,271,150,000 2,271,150,000 86,852,575 2,184,297,425
SERIES "D" 2,271,150,000 2,271,150,000 86,852,575 2,184,297,425
------------- ------------- --------------- -------------
9,563,350,671 9,133,043,117 284,648,743 8,848,394,374
============= ============= =============== =============
(*) SHARES REPURCHASED INCLUDE SHARES IN THE FORM OF 86,851,771 CPOS AND
ADDITIONAL 24,091,018 SERIES "A" SHARES (NOT IN THE FORM OF CPOS) THAT ARE
BENEFICIALLY OWNED BY ONE OF THE COMPANY'S WHOLLY-OWNED SUBSIDIARIES.
6. REPURCHASE OF SHARES:
AS OF DECEMBER 31, 2002, THE COMPANY'S STOCKHOLDERS HAD APPROVED
APPROPRIATING FROM RETAINED EARNINGS A RESERVE AMOUNTING TO PS.6,363,359,
FOR THE REPURCHASE OF SHARES AT THE DISCRETION OF MANAGEMENT AND IN
ACCORDANCE WITH THE RULES PROVIDED BY THE MEXICAN BANKING AND SECURITIES
COMMISSION ("COMISION NACIONAL BANCARIA Y DE VALORES"). THE RESERVE FOR
REPURCHASE OF SHARES WAS USED IN 1999 AND 2000 IN CONNECTION WITH
REPURCHASES OF SHARES IN THOSE YEARS.
AS A RESULT OF CERTAIN CHANGES TO THE MEXICAN SECURITIES LAW IN CONNECTION
WITH REPURCHASES OF SHARES, WHICH IN TURN WERE ADOPTED BY THE COMPANY'S
BY-LAWS ON APRIL 30, 2002, 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 BY REDUCING THE
COMPANY'S CAPITAL STOCK ISSUED FOR AN AMOUNT PROPORTIONATE TO THE SHARES
CANCELLED.
DURING 2001 AND 2002, A COMPANY'S SUBSIDIARY ACQUIRED SHARES OF THE COMPANY
FOR THE AMOUNT OF PS.234,343 AND PS.37,095, RESPECTIVELY OF WHICH
PS.191,201 AND PS.30,502 WERE CHARGED TO UNAPPROPIATED EARNINGS,
RESPECTIVELY.
THE 284,648,743 SHARES REPURCHASED AND HELD BY THE COMPANY AS OF DECEMBER
31, 2002, ARE REFLECTED AS A CHARGE TO THE STOCKHOLDERS' EQUITY, AS
FOLLOWS:
SHARES
SHARES REPURCHASED BY SHARES
REPURCHASED BY A COMPANY'S' REPURCHASED BY
STOCKHOLDERS' EQUITY THE COMPANY SUBSIDIARY THE GROUP
---------------------- --------------- --------------- --------------
CAPITAL STOCK PS. 81,575 PS. 163,546 PS. 245,121
RESERVE FOR REPURCHASE
OF SHARES 26 - 26
UNAPPROPRIATED EARNINGS - 1,891,176 1,891,176
--------------- --------------- --------------
TOTAL PS. 81,601 PS. 2,054,722 PS. 2,136,323
=============== =============== ==============
IN SEPTEMBER 2002, THE COMPANY ANNOUNCED A SHARE REPURCHASE PROGRAM OF UP
TO U.S.$400 MIILION (PS.4,185,600) OVER THE NEXT THREE YEARS. THE COMPANY
STARTED REPURCHASING SHARES IN 2003, AND AS OF FEBRUARY 26, 2003,
19,030,200 SHARES IN THE FORM OF 6,343,400 CPOS HAD BEEN REPURCHASED BY THE
COMPANY UNDER THIS PROGRAM FOR AN AGGREGATED AMOUNT OF PS.84,514.
7. INTEGRAL COST OF FINANCING:
INTEGRAL COST OF FINANCING FOR THE YEARS ENDED DECEMBER 31, CONSISTED
OF:
2002 2001
------------- -------------
INTEREST EXPENSE (1) PS. 1,371,153 PS. 1,273,308
INTEREST INCOME (589,627) (978,417)
FOREIGN EXCHANGE LOSS (GAIN), NET (2) 584,396 (37,340)
(GAIN) FROM MONETARY POSITION (3) (140,378) (18,031)
------------- -------------
1,225,544 239,520
MONETARY RESULT CLASSIFIED AS PRO-
VISION FOR DEFERRED INCOME TAX (3) 182,653 197,398
FOREIGN EXCHANGE LOSS HEDGED (4) (795,225) -
------------- -------------
PS. 612,972 PS. 436,918
============= =============
(1) INCLUDES RESTATEMENT OF UDIS OF PS.189,649 AND PS.171,040 IN 2002 AND
2001, RESPECTIVELY.
(2) INCLUDES A NET GAIN FROM FOREING CURRENCY OPTION CONTRACTS OF PS.2,898
IN 2002, AND A NET LOSS FROM FORWARD EXCHANGE CONTRACTS OF PS.106,268
IN 2001.
(3) ARISING FROM TEMPORARY DIFFERENCES OF NON-MONETARY ITEMS IN
CALCULATING DEFERRED INCOME TAX UNDER MEXICAN GAAP CIRCULAR NO. 54.
(4) FOREIGN EXCHANGE NET LOSS ATTRIBUTABLE TO CERTAIN LONG-TERM DEBT
SECURITIES WHICH ARE HEDGED BY THE GROUP'S NET INVESTMENT IN UNIVISION
(SEE NOTE 3).
8. DEFERRED TAXES:
THE DEFERRED INCOME TAX LIABILITY AS OF DECEMBER 31, WAS DERIVED FROM:
2002 2001
------------- --------------
ASSETS:
ACCRUED LIABILITIES PS. 592,960 PS. 535,895
TAX LOSS CARRYFORWARDS, NET OF
VALUATION ALLOWANCES 194,132 387,705
CUSTOMER ADVANCES 1,154,995 843,831
OTHER ITEMS 368,425 332,645
------------ -------------
2,310,512 2,100,076
------------ -------------
LIABILITIES:
INVENTORIES 1,604,267 2,004,062
PROPERTY, PLANT AND EQUIPMENT - NET 1,022,068 1,034,562
OTHER ITEMS 1,710,624 1,438,443
------------ -------------
4,336,959 4,477,067
------------ -------------
2,026,447 2,376,991
LESS ASSETS TAX-NET 511,385 574,263
------------ -------------
DEFERRED INCOME TAX LIABILITY 1,515,062 1,802,728
DEFERRED INCOME TAX LIABILITY (ASSET) FROM
DISCONTINUED OPERATIONS 542,145 (28,086)
------------ --------------
DEFERRED INCOME TAX LIABILITY FROM CONTINUING
OPERATIONS PS.2,057,207 PS.1,830,814
============ ==============
9. EXTRAORDINARY ITEMS:
NO EXTRAORDINARY ITEMS, AS DEFINED BY MEXICAN GAAP BULLETIN A-7
"COMPARABILITY", WERE RECOGNIZED IN INCOME FOR THE YEARS ENDED DECEMBER 31,
2002 AND 2001.
10. DISCONTINUED OPERATIONS:
IN DECEMBER 2001, IN CONNECTION WITH A SERIES OF TRANSACTIONS THE
GROUP REACHED AN AGREEMENT TO SELL ITS MUSIC RECORDING BUSINESS IN THE
UNITED STATES AND LATIN AMERICA TO UNIVISION IN EXCHANGE FOR CONSIDERATION
OF 6,000,000 SHARES OF UNIVISION COMMON STOCK AND WARRANTS TO PURCHASE
100,000 WARRANTS OF UNIVISION COMMON STOCK WHICH EXPIRE IN DECEMBER 2017 AT
AN EXERCISE PRICE OF U.S.$38.261 PER SHARE. THIS SALE WAS SUBSTANTIALLY
COMPLETED IN APRIL 2002. THE QUOTED MARKET PRICE OF THE SHARES OF UNIVISION
COMMON STOCK USED TO VALUE THIS EXCHANGE TRANSACTION WAS U.S.$38.85 PER
SHARE, WHICH WAS BASED ON THE AVERAGE OF THE CLOSING PRICES FOR EACH OF THE
TRADING DAYS DURING THE WEEK OF DECEMBER 17, 2001 THROUGH DECEMBER 21,
2001. ACCORDINGLY, THE RESULTS OF OPERATIONS OF THIS BUSINESS THROUGH THE
CLOSING DATE OF THE TRANSACTION IN APRIL 2002, AS WELL AS THE GAIN ON
DISPOSITION OF THIS BUSINESS SEGMENT, NET OF RELATED COSTS, EXPENSES AND
TAXES ARE REPORTED AS INCOME FROM DISCONTINUED OPERATIONS IN THE GROUP'S
CONSOLIDATED STATEMENTS OF INCOME. ALSO, IN CONNECTION WITH THIS EXCHANGE
TRANSACTION, THE COMPANY MAY HAVE TO PAY CERTAIN ADJUSTMENTS TO UNIVISION
IN CONNECTION WITH AN AUDIT OF THE MUSIC RECORDING BUSINESS BY UNIVISION,
WHICH IS STILL IN THE PROCESS OF BEING RESOLVED BY THE PARTIES. WHILE THE
COMPANY'S MANAGEMENT DOES NOT BELIEVE THAT ANY OF THESE ADJUSTMENTS WILL BE
MATERIAL IN AMOUNT OR IMPACT, THE COMPANY CAN GIVE NO ASSURANCES IN THIS
REGARD. DISCONTINUED OPERATIONS OF THE MUSIC RECORDING SEGMENT ARE
PRESENTED AS FOLLOWS:
2002 2001
-------------- -------------
INCOME FROM MUSIC RECORDING OPERATIONS FOR
THE PERIOD FROM JANUARY 1, 2002 THROUGH THE
CLOSING DATE IN MARCH 2002, AND THE YEARS
ENDED DECEMBER 31, 2001, NET OF INCOME TAXES OF
PS.10,151 AND PS.61,087, RESPECTIVELY PS. 1,693 PS. 14,063
GAIN ON DISPOSAL OF MUSIC RECORDING OPERATIONS,
NET OF INCOME TAXES OF PS.530,316. 1,096,641 -
------------- -------------
PS. 1,098,334 PS. 14,063
============= =============
SUMMARIZED INFORMATION ON RESULTS OF THE DISCONTINUED MUSIC RECORDING
OPERATIONS FOR THE PERIOD FROM JANUARY 1, 2002 THROUGH THE CLOSING DATE IN
MARCH 2002, AND THE YEARS ENDED DECEMBER 31, 2001, IS AS FOLLOWS:
2002 2001
-------------- -------------
NET SALES PS. 207,338 PS. 1,044,488
OPERATING INCOME BEFORE DEPRECIATION AND
AMORTIZATION 19,894 93,484
DEPRECIATION AND AMORTIZATION 769 4,226
OPERATING INCOME 19,125 89,258
INCOME FROM DISCONTINUED OPERATIONS 1,693 14,063
THE NET ASSETS OF THE DISCONTINUED MUSIC RECORDING OPERATIONS IN THE
DECEMBER 31, 2001 CONSOLIDATED BALANCE SHEET AMOUNTED TO PS.590,663.
11. CUMULATIVE EFFECT OF ACCOUNTING CHANGES:
NO CUMULATIVE EFFECT OF ACCOUNTING CHANGE WAS RECOGNIZED IN INCOME FOR
THE YEAR ENDED DECEMBER 31, 2002.
IN THE FIRST QUARTER OF 2001, THE COMPANY ADOPTED THE PROVISIONS OF
BULLETIN C-2, "FINANCIAL INSTRUMENTS", ISSUED BY THE MEXICAN INSTITUTE OF
PUBLIC ACCOUNTANTS. THROUGH DECEMBER 31, 2000, THE GROUP RECOGNIZED GAINS
OR LOSSES ON DERIVATIVE FINANCIAL INSTRUMENTS NOT DESIGNATED AS A HEDGE
UPON SETTLEMENT OF THE RELATED CONTRACTS. AS A RESULT OF APPLYING THE
PROVISIONS OF BULLETIN C-2, THE GROUP ACCOUNTED FOR ALL OF ITS DERIVATIVE
FINANCIAL INSTRUMENTS AT FAIR VALUE AS OF JANUARY 1, 2001, AND RECOGNIZED A
CUMULATIVE EFFECT LOSS OF PS.73,402 (NET OF INCOME TAX BENEFIT OF PS.
39,525) IN THE CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED DECEMBER
31, 2001. THE IMPACT WAS PRIMARILY DUE TO THE RECOGNITION OF UNSETTLED
FORWARD CONTRACTS NOT DESIGNATED AS A HEDGE.
12. QUARTERLY NET RESULTS (HISTORICAL AND RESTATED):
THE QUARTERLY NET RESULTS FOR THE FOUR QUARTERS ENDED DECEMBER 31,
2002, ARE AS FOLLOWS:
HISTORICAL NET RESULT (1) RESTATED NET RESULT
------------------------- ---------------------------
INDEX AT
END OF
QUARTER ACCUMULATED QUARTER QUARTER ACCUMULATED QUARTER
------- ------------ ----------- --------- ------------- -----------
1(degree)/02 PS. 66,388 PS. 66,388 98.692 PS. 69,221 PS. 69,221
2(degree)/02 1,253,533 1,186,321 99.917 1,291,006 1,221,785
3(degree)/02 1,647,761 378,258 101.190 1,675,671 384,665
4(degree)/02 807,541 (868,130) 102.904 807,541 (868,130)
(1) AS REPORTED IN EACH QUARTER.
13. ACQUISITION OF UNIVISION SHARES
IN FEBRUARY 2002, THE 375,000 NON-VOTING PREFERRED SHARES OF UNIVISION
STOCK ACQUIRED BY THE GROUP IN DECEMBER 2001 FOR CONSIDERATION OF U.S.$375
MILLION IN CASH, WERE CONVERTED UPON THE RECEIPT OF REQUIRED U.S.
REGULATORY APPROVALS INTO 10,594,500 SHARES OF UNIVISION CLASS "A" COMMON
STOCK. AS A RESULT OF THIS CONVERSION, THE GROUP RECOGNIZED AN EXCESS OF
THE PURCHASE PRICE PAID BY THE GROUP OVER THE CARRYING VALUE OF THE
UNIVISION STOCK ACQUIRED OF APPROXIMATELY U.S.$322 MILLION (PS.3,373,280),
WHICH WILL BE AMORTIZED IN A 20-YEAR PERIOD BEGINNING APRIL 2002.
IN APRIL, 2002, AS CONSIDERATION FOR THE SALE OF THE GROUP'S MUSIC
RECORDING BUSINESS, THE GROUP ACQUIRED 6,000,000 SHARES OF UNIVISION COMMON
STOCK AND WARRANTS TO PURCHASE 100,000 SHARES OF UNIVISION COMMON STOCK
(SEE NOTE 10). AS A RESULT, THE GROUP RECOGNIZED AN EXCESS OF THE PURCHASE
PRICE ASSIGNED TO SUCH SECURITIES AT THE AGREEMENT DATE OVER THE CARRYING
VALUE OF THE UNIVISION STOCK ACQUIRED OF APPROXIMATELY U.S.$201 MILLION
(PS.2,100,439), WHICH WILL BE AMORTIZED IN A 20-YEAR PERIOD BEGINNING MAY
2002.
14. DISPOSITION OF INVESTMENT IN CHILE
IN THE THIRD QUARTER OF 2002, THE GROUP SOLD ITS 21.99% MINORITY
INTEREST IN RED TELEVISIVA MEGAVISION, S. A. ("MEGAVISION"), A BROADCASTING
TELEVISION COMPANY IN CHILE, FOR THE AMOUNT OF U.S.$4.2 MILLION, OF WHICH
U.S.$2.1 MILLION WERE PAID IN CASH AND U.S.$2.1 MILLION IN THE FORM OF A
NOTE RECEIVABLE DUE IN AUGUST 2003. THE GROUP RECOGNIZED A PRE-TAX GAIN ON
THIS SALE OF APPROXIMATELY PS.4,996, WHICH REPRESENTED THE EXCESS OF THE
CASH AND NON-CASH PROCEEDS OVER THE CARRYING VALUE OF THE NET INVESTMENT IN
MEGAVISION AT THE TRANSACTION DATE.
15. ACQUISITION OF MINORITY INTEREST IN OCESA
ON OCTOBER 18, 2002, THE GROUP AND CORPORACION INTERAMERICANA DE
ENTRETENIMIENTO, S.A. DE C.V. ("CIE"), THE LEADING LIVE ENTERTAINMENT
COMPANY IN LATIN AMERICA, SPAIN AND THE LATIN U.S. MARKET, ANNOUNCED AN
AGREEMENT TO FORM A STRATEGIC ALLIANCE UNDER WHICH THE GROUP ACQUIRED AN
INTEREST OF 40% IN OCESA ENTRETENIMIENTO, S.A. DE C.V. ("OCESA"), A NEWLY
FORMED SUBSIDIARY OF CIE, WHICH OWNS ALL THE ASSETS RELATED TO CIE'S LIVE
ENTERTAINMENT BUSINESS UNIT IN MEXICO, FOR AN AGGREGATE AMOUNT OF
U.S.$107.2 MILLION, OF WHICH U.S.$68 MILLION WERE PAID IN CASH IN THE
FOURTH QUARTER OF 2002 AND THE REMAINING BALANCE WILL BE PAID IN THE FIRST
QUARTER OF 2003.
- - - -
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
RELATION OF SHARES INVESTMENTS
ANNEX 3 CONSOLIDATED
FINAL PRINTING
-----------------------------------------------------------------------------------------------------------------
% TOTAL AMOUNT
NUMBER OWNERSHIP (THOUSANDS OF PESOS)
-------------------------
COMPANY NAME (1) MAIN ACTIVITIES OF SHARES (2) ACQUISITION PRESENT
COST VALUE (3)
-----------------------------------------------------------------------------------------------------------------
SUBSIDIARIES
1 CORPORATIVO VASCO DE QUIROGA, PROMOTION AND 18,591,719 100.00 1,745,037 1,639,654
S.A. DE C.V. DEVELOPMENT OF
COMPANIES
2 CVQ ESPECTACULOS, S.A. DE C.V. PROMOTION AND 10,175,900 100.00 1,319,247 1,122,721
DEVELOPMENT OF
COMPANIES
3 DTH EUROPA, S.A. PROMOTION AND 465,711 79.95 264,460 (517,300)
DEVELOPMENT OF
COMPANIES
4 EDITORA FACTUM, S.A. DE C.V. PROMOTION AND 386,947,323 100.00 1,574,046 4,872,068
DEVELOPMENT OF
COMPANIES
5 EDITORIAL TELEVISA, S.A. DE C.V. PROMOTION AND 1,037,498 100.00 823,582 1,223,494
DEVELOPMENT OF
COMPANIES
6 FACTUM MAS, S.A. DE C.V. PROMOTION AND 2,710,159,002 100.00 2,024,185 (1,527,740)
DEVELOPMENT OF
COMPANIES
7 GRUPO DISTRIBUIDORAS INTERMEX, DISTRIBUTION OF BOOKS 349,470,905 100.00 822,778 722,212
S.A. DE C.V. AND MAGAZINES
8 GRUPO RADIOPOLIS, S.A. DE C.V. PROMOTION AND 418,881,301 100.00 342,274 1,651,786
DEVELOPMENT OF
COMPANIES
9 PROMO-INDUSTRIAS PROMOTION AND 515,523 100.00 102 56,527
METROPOLITANAS, S.A. DE C.V. DEVELOPMENT OF
COMPANIES
10 SISTEMA RADIOPOLIS, S.A. DE C.V. COMMERCIALIZATION OF 76,070,313 50.00 764,739 158,705
RADIO PROGRAMMING
11 TELEPARABOLAS, S.L. MAINTENANCE OF 1,500 100.00 750 766
PARABOLIC DISHES
12 TELESISTEMA MEXICANO, S.A. DE C.V COMMERCIALIZATION OF 132,009,215 100.00 9,029,929 18,878,387
TELEVISION
13 TELEVISA ARGENTINA, S.A. COMMERCIAL OPERATION 6,920,920 100.00 115,371 41,525
OF TELEVISION
14 TELEVISA COMERCIAL, S.A. DE C.V. PROMOTION AND 3,799,991 100.00 3,799,991 6,558,299
DEVELOPMENT OF
COMPANIES
15 TELEVISION INDEPENDIENTE DE PROMOTION AND 16,997,306 99.96 1,265,724 4,693,707
MEXICO, S.A. DE C.V. DEVELOPMENT OF
COMPANIES
16 CAPITALIZED INTEGRAL COST OF 1 222,174
FINANCING, 1994
17 CAPITALIZED INTEGRAL COST OF 1 383,376
FINANCING, 1995
18 CAPITALIZED INTEGRAL COST OF 1 26,602
FINANCING, 1996
19 CAPITALIZED INTEGRAL COST OF 1 22,829
FINANCING, 1998
-----------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN SUBSIDIARIES 23,892,215 40,229,792
-----------------------------------------------------------------------------------------------------------------
% TOTAL AMOUNT
NUMBER OWNERSHIP (THOUSANDS OF PESOS)
-------------------------
COMPANY NAME (1) MAIN ACTIVITIES OF SHARES (2) ACQUISITION PRESENT
COST VALUE (3)
-----------------------------------------------------------------------------------------------------------------
ASSOCIATEDS
1 ARGOS COMUNICACION, S.A. DE C.V. OPERATION AND/OR 33,000,000 30.00 137,000 21,319
BROADCASTING OF T.V.
2 BOUNCYNET, INC. INTERNET PORTAL 4,700 44.76 158,265 24,240
3 CARDENAS FERNANDEZ Y ASOCIADOS LIVE ENTERTAINMENT IN 1 50.00 36,688 2,606
U.S.A.
4 DIBUJOS ANIMADOS MEXICANOS PRODUCTION OF 1,730,660 49.00 4,384 828
DIAMEX, S.A. DE C.V. ANIMATED CARTOONS
5 DTH TECHCO PARTNERS SERVICES FOR SATELLITE 1 30.00 117,900 175,412
PAY TELEVISION
6 EDITORIAL CLIO, LIBROS Y VIDEOS, PUBLISHING AND PRINTING 2,627,050 30.00 26,270 11,952
S.A. DE C.V. OF BOOKS AND
MAGAZINES.
7 ENDEMOL MEXICO, S.A. DE C.V. COMMERCIALIZATION OF 1,635,000 50.00 1,635 (64)
TELEVISION
PROGRAMMING
8 EN VIVO ESPECTACULOS, S. DE R.L. LIVE ENTERTAINMENT IN 2 100.00 25 (6,076)
DE C.V. MEXICO
9 INNOVA, S. DE R.L. DE C.V. PROMOTION AND 1 60.00 773,585 (852,993)
DEVELOPMENT OF
COMPANIES
10 INTERCONTINENTAL MEDIA, S.A. DISTRIBUTION OF BOOKS 42 35.00 361 278
AND MAGAZINES
11 GRUPO EUROPRODUCCIONES, S.A. PROMOTION AND 7,275 30.00 93,407 95,965
DEVELOPMENT OF
COMPANIES
12 OCESA ENTRETENIMIENTO, S.A. DE LIVE ENTERTAINMENT IN 10,100,000 40.00 403,810 401,161
C.V. MEXICO
13 SKY LATIN AMERICA, PARTNERS ADMINISTRATIVE SERV. 1 30.00 1,974 9,424
FOR THE DTH VENTURES
14 SKY MULTI-COUNTRY, PARTNERS ADMINISTRATIVE SERV. 1 30.00 1,211,305 (792,249)
FOR THE DTH VENTURES
15 TELEVISORA DEL YAQUI, S.A. DE C. OPERATION AND/OR 4,124,986 15.00 412 4,846
BROADCASTING OF T.V.
16 UNIVISION COMMUNICATIONS, INC. BROADCASTING OF T.V. 30,187,534 13.23 5,602,976 2,184,496
SPANISH PROGRAMS
-----------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN ASSOCIATEDS 8,569,997 1,281,145
-----------------------------------------------------------------------------------------------------------------
OTHER PERMANENT INVESTMENTS 157,550
-----------------------------------------------------------------------------------------------------------------
TOTAL 41,668,487
-----------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
PROPERTY, PLANT AND EQUIPMENT
(Thousands of Pesos)
ANNEX 4 CONSOLIDATED
FINAL PRINTING
----------------------------------------------------------------------------------------------------------
CONCEPT REVALUATION DEPRECIATION CARRYING VALUE
ACQUISITION ACCUMULATED CARRYING ON (+) REVALUATION
COST DEPRECIATION VALUE REVALUATION (-) DEPRECIATION
----------------------------------------------------------------------------------------------------------
DEPRECIATION ASSETS
PROPERTY 1,718,609 363,425 1,355,184 4,801,331 1,547,939 4,608,576
MACHINERY 4,189,445 1,978,537 2,210,908 5,548,227 3,757,714 4,001,421
TRANSPORT EQUIPMENT 696,366 158,360 538,006 252,685 194,557 596,134
OFFICE EQUIPMENT 233,877 93,365 140,512 284,970 171,355 254,127
COMPUTER EQUIPMENT 456,278 266,797 189,481 252,903 228,298 214,086
OTHER 742,253 221,311 520,942 520,942
----------------------------------------------------------------------------------------------------------
DEPRECIABLES TOTAL 8,036,828 3,081,795 4,955,033 11,140,116 5,899,863 10,195,286
----------------------------------------------------------------------------------------------------------
NOT DEPRECIABLE
ASSETS
GROUNDS 462,576 462,576 2,994,680 3,457,256
CONSTRUCTIONS IN
PROCESS 1,035,620 1,035,620 1,035,620
OTHER - -
----------------------------------------------------------------------------------------------------------
NOT DEPRECIABLE 1,498,196 - 1,498,196 2,994,680 - 4,492,876
TOTAL
----------------------------------------------------------------------------------------------------------
TOTAL 9,535,024 3,081,795 6,453,229 14,134,796 5,899,863 14,688,162
----------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
CREDITS BREAK DOWN
(Thousands of Pesos)
CONSOLIDATED
FINAL PRINTING
---------------------------------------------------------------------------------------------------------------------------------
Denominated Amortization of Credits in Foreign Currency With National
Entities (Thousands of $) $)
---------------------------------------------------------
In Pesos Time Interval
---------------------------------------------------------------------------------------------------------------------------------
More
Credit Type / Concertation Rate of Until Than Current Until Until Until 3 Until 4 Until
Institution Date Interest 1 Year 1 Year Year 1 Year 2 Year 3 Year 4 Year 5 Year
----------------------------------------------------------------------------------------------------------
BANKS
OTHER FINANCIAL
ENTITIES
SINDICADO 12/21/06 2.89
BANAMEX, S.A. 7/24/04 9.26 152,625 114,469
J.P. MORGAN BANK 6/30/03 4.25
BANCA SERFIN, S.A. 5/15/06 8.19 64,000 160,000
BANK OF AMERICA 3/31/10 4.62
SUNTRUST BANK
MIAMI, NATIONAL 4/1/08 1.58
INBURSA, S.A. 11/1/06 8.47 7,631 16,638
BNP PARIBAS 11/15/07 2.10
BANCO DE BILBAO
VIZCAYA, S.A. 1/30/06 5.86
ARRENDADORA
CITIBANK, S.A. 1/12/03 5.21 5,726
BANCO DE OCCIDENTE,
S.A. 1/8/03 9.00
ARRENDADORA BANK OF
AMERICA, S.A. 1/2/03 5.11 2,013
GE CAPITAL LEASING,
S.A. DE C.V. 1/2/03 5.11 1,334
LEASING DE OCCIDENTE 3/19/05 13.46
LEASING DEL VALLE 2/8/04 13.19
BANCO NACIONAL DE
MEXICO, S.A. 2/21/03 9.80 271
TOTAL BANKS 224,256 291,107 - 9,344 - - -
---------------------------------------------------------------------------------------------------------------------------------
STOCK EXCHANGE
PRIVATE PLACEMENTS
UNSECURED DEBT
HOLDERS 5/13/03 11.961
HOLDERS 5/13/06 12.486
HOLDERS 8/8/05 9.069
HOLDERS 9/13/11 8.41
HOLDERS 3/11/32 8.94
UDI DENOMINATED
-NOTES 4/13/07 8.15 3,503,220
TOTAL STOCK
EXCHANGE - 3,503,220 - - - - -
---------------------------------------------------------------------------------------------------------------------------------
SUPPLIERS
VARIOUS 522,498 1,338,042
TOTAL SUPPLIERS 522,498 - - 1,338,042 - - -
OTHER CURRENT
LIABILITIES
AND OTHER CREDITS
VARIOUS 1,005,298 137,894 391,697 511,386
TOTAL OTHER
CURRENT
LIABILITIES AND
OTHER
CREDITS 1,005,298 137,894 - 391,697 511,386 - -
---------------------------------------------------------------------------------------------------------------------------------
1,752,052 3,932,221 - 1,739,083 511,386 - -
---------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
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
SINDICADO 418,560 627,840
BANAMEX, S.A.
J.P. MORGAN BANK 259,381
BANCA SERFIN, S.A.
BANK OF AMERICA 524 524 524 524 27,985
SUNTRUST BANK
MIAMI, NATIONAL 4,251 4,847 4,651 4,651 6,975
INBURSA, S.A.
BNP PARIBAS 4,713 4,713 4,713 4,713 3,997
BANCO DE BILBAO
VIZCAYA, S.A. 6,973 5,366 2,050 353
ARRENDADORA
CITIBANK, S.A.
BANCO DE OCCIDENTE,
S.A. 2,363
ARRENDADORA BANK OF
AMERICA, S.A.
GE CAPITAL LEASING,
S.A. DE C.V.
LEASING DE OCCIDENTE 366 431 248
LEASING DEL VALLE 236 114
BANCO NACIONAL DE
MEXICO, S.A.
TOTAL BANKS - 278,807 15,995 430,746 638,081 38,957
STOCK EXCHANGE
PRIVATE PLACEMENTS
UNSECURED DEBT
HOLDERS 720,415
HOLDERS 55,909
HOLDERS 2,092,800
HOLDERS 3,139,200
HOLDERS 3,139,200
UDI DENOMINATED
-NOTES
TOTAL STOCK
EXCHANGE - 720,415 - 2,092,800 55,909 6,278,400
SUPPLIERS
VARIOUS 367,967
TOTAL SUPPLIERS - 367,967 - - - -
OTHER CURRENT
LIABILITIES
AND OTHER CREDITS
VARIOUS 66,015 122,599
TOTAL OTHER
CURRENT
LIABILITIES AND
OTHER
CREDITS - 66,015 122,599 - - -
---------------------------------------------------------------------------------------------------------------------------------
- 1,433,204 138,594 2,523,546 693,990 6,317,357
---------------------------------------------------------------------------------------------------------------------------------
NOTES
THE BANCO NACIONAL DE MEXICO LOAN WAS REFINACED IN JULY 2000, AND
THE MATURITY OF SUCH LOAN AND INTEREST PAYABLE WERE CHANGED AS RE-
FLECTED IN THIS SHEDULES.
THE EXCHANGE RATES FOR THE CREDITS DENOMINATED IN FOREIGN CURRENCY
WERE AS FOLLOWS :
$ 10.4640 PESOS PER U.S. DOLLAR
11.0050 PESOS PER EURO
0.0036 PESOS PER COLOMBIAN PESO
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
TRADE BALANCE AND MONETARY POSITION IN FOREIGN EXCHANGE
(Thousands of Pesos)
ANNEX 6 CONSOLIDATED
FINAL PRINTING
-----------------------------------------------------------------------------------------------------------------------
DOLLARS (1) OTHER CURRENCIES
--------------------------------------------------------------------- TOTAL
TRADE BALANCE THOUSANDS THOUSANDS THOUSANDS THOUSANDS THOUSANDS
OF DOLLARS OF PESOS OF DOLLARS OF PESOS OF PESOS
---------------------------------------------------------------------------------------------------------------------
1. INCOME
--------------------------------
EXPORTS 347,870 3,640,112 85,117 890,664 4,530,776
OTHER 31,175 326,215 1,546 16,177 342,392
TOTAL 379,045 3,966,327 86,663 906,841 4,873,168
-------------------------------------------------------------------------------------------------------------------
2. EXPENDITURE
--------------------------------
IMPORT (RAW MATERIALS) 306,785 3,210,198 77,861 814,737 4,024,935
INVESTMENTS 128,626 1,345,942 13,814 144,550 1,490,492
OTHER 213,975 2,239,094 17,174 179,708 2,418,802
TOTAL 649,386 6,795,234 108,849 1,138,995 7,934,229
-------------------------------------------------------------------------------------------------------------------
NET BALANCE (270,341) (2,828,907) (22,186) (232,154) (3,061,061)
-------------------------------------------------------------------------------------------------------------------
FOREIGN MONETARY POSITION
--------------------------------
TOTAL ASSETS 571,685 5,982,112 187,863 1,965,798 7,947,910
LIABILITIES POSITION 1,230,232 12,873,148 52,649 550,919 13,424,067
SHORT-TERM LIABILITIES POSITION 258,032 2,700,047 51,524 539,147 3,239,194
LONG-TERM LIABILITIES POSITION 972,200 10,173,101 1,125 11,772 10,184,873
-------------------------------------------------------------------------------------------------------------------
NET BALANCE (658,547) (6,891,036) 135,214 1,414,879 (5,476,157)
-------------------------------------------------------------------------------------------------------------------
NOTES
THE EXCHANGE RATES USED FOR TRANSLATION WERE AS FOLLOWS :
$ 10.4640 PESOS PER U.S. DOLLAR
11.0050 PESOS PER EURO
3.1050 PESOS PER ARGENTINEAN PESO
10.4640 PESOS PER PANAMANIAN BALBOA
0.0145 PESOS PER CHILEAN PESO
0.0036 PESOS PER COLOMBIAN PESO
2.9769 PESOS PER PERUVIAN NUEVO SOL
0.0276 PESOS PER COSTA RICAN COLON
0.0899 PESOS PER JAPANESE YEN
6.6900 PESOS PER CANADIAN DOLLAR
1.4100 PESOS PER FRENCH FRANC
17.0000 PESOS PER POUNDS STERLING
1.2080 PESOS PER SWEDISH CROWN
10.4640 PESOS PER ECUADORIAN SUCRE
4.7700 PESOS PER GERMAN MARK
7.6200 PESOS PER SWISS FRANC
THIS INFORMATION IS REPRESENTED ON A CONSOLIDATED BASIS AND INCLUDES,
ACCORDINGLY, INFORMATION OF FOREIGN SUBSIDIARIES.
INCLUDES IN OTHER INCOME DISCONTINUED OPERATIONS OF U.S. $ 15,310
INCLUDES IN OTHER EXPENSES DISCONTINUED OPERATIONS OF U.S. $ 17,864
THE ASSETS IN U.S. DOLLARS INCLUDES NON - CURRENT ASSETS OF U.S. $ 225,092
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
INTEGRATION AND INCOME
CALCULATION BY MONETARY POSITION (1)
(Thousands of Pesos)
ANNEX 7 CONSOLIDATED
FINAL PRINTING
-------------------------------------------------------------------------------------------------------
(ASSET) LIABILITIES MONTHLY
MONTH MONETARY MONETARY MONETARY MONTHLY (PROFIT)
ASSETS LIABILITIES POSITION INFLATION AND LOSS
-------------------------------------------------------------------------------------------------------
JANUARY 18,646,184 17,699,891 (946,293) 0.00 (8,738)
FEBRUARY 18,706,721 17,837,857 (868,864) 0.00 557
MARCH 18,682,322 18,370,860 (311,462) 0.00 (1,592)
APRIL 17,195,964 17,853,523 657,559 0.00 3,591
MAY 16,371,840 18,097,241 1,725,401 0.00 3,494
JUNE 16,534,092 18,765,632 2,231,540 0.00 10,883
JULY 14,371,054 19,023,272 4,652,218 0.00 13,361
AUGUST 13,780,881 18,659,651 4,878,770 0.00 18,549
SEPTEMBER 14,105,248 19,071,610 4,966,362 0.00 29,868
OCTOBER 11,457,277 19,075,547 7,618,270 0.00 33,574
NOVEMBER 16,412,294 19,337,396 2,925,102 0.00 23,655
DECEMBER 19,535,365 19,953,929 418,564 0.00 1,822
ACTUALIZATION: - 1,941
CAPITALIZATION: -
FOREIGN CORP.: - 15,334
OTHER - (188,574)
----------------------------------------------------------------------------------------------------
TOTAL (42,275)
----------------------------------------------------------------------------------------------------
NOTES
THE AMOUNT REFLECTED IN "OTHER" INCLUDES A GAIN FROM MONETARY POSITION
DERIVED FROM DEFERRED TAXES FOR PS. 182,653 WHICH WAS CLASSIFIED IN
THE DEFERRED INCOME TAX PROVISION IN ACORDANCE WITH THE GUIDELINES
PROVIDED BY BULLETIN D-4 FOR DEFERRED TAXES.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
BONDS AND MEDIUM TERM NOTES LISTING IN STOCK MARKET (1)
ANNEX 8 CONSOLIDATED
FINAL PRINTING
--------------------------------------------------------------------------------
FINANCIAL LIMITED BASED IN ISSUED DEED AND/OR TITLE
--------------------------------------------------------------------------------
THE AGREEMENTS OF THE U.S.$200 MILLION, U.S.$300 MILLION AND U.S.$300
MILLION SENIOR NOTES WITH MATURITY IN 2005, 2011 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.
--------------------------------------------------------------------------------
ACTUAL SITUATION OF FINANCIAL LIMITED
--------------------------------------------------------------------------------
AT DECEMBER 31, 2002, 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. FEBRUARY 26, 2003
--------------------------------------------------------------------------------
BONDS AND/OR MEDIUM TERM NOTES CERTIFICATE
--------------------------------------------------------------------------------
(1) THIS FORM MUST BE SIGNED BY THE COMPANY'S GENERAL DIRECTOR OR
FINANCE DIRECTOR, WITH THE EXPLANATION THAT THE FINANCIAL
LIMITATIONS AGREED WERE MET. IN THE CASE OF FAILING TO FULFILL
SOME OF THE LIMITATIONS, INDICATE THOSE LIMITATIONS AND A
REGULATION PROGRAM SHOWING HOW THEY ARE GOING TO BE SATISFIED.
THIS FORM SHOULD ALSO BE PRESENTED ATTACHED TO THE DICTAMINATED
FINANCIAL STATEMENTS, SIGNED BY THE CORRESPONDING EXTERNAL
AUDITORS.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
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
AUDIO: 0 0
SISTEMA RADIOPOLIS, S.A. DE C 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. THE AZTECA STADIUM. 0 0
COMUNICACIONES MTEL, S.A. DE NATIONWIDE PAGING. 0 0
AUDIOMASTER 3000, S.A. DE C.V DUBBING, DUBBING EQUIPMENT AND 0 0
STUDIOS, AND ADMINISTRATIVE 0 0
OFFICES. 0 0
---------------------------------------------------------------------------------------------------------
NOTES
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
MAIN RAW MATERIALS
ANNEX 10 CONSOLIDATED
FINAL PRINTING
------------------------------------------------------------------------------------------------------------
MAIN MAIN DOM. COST
DOMESTIC SUPPLIERS FOREIGN SUPPLIERS SUBST. PRODUCTION
(%)
------------------------------------------------------------------------------------------------------------
TAPES AND VIDEOCASSETTE FUJI FILM, S.A.
FOR RECORDING DE C.V. 0.14
VIDEOCASSETTE NETWORK MUSIC YES 0.22
FOR RECORDING COLOR CASSETTES YES 0.56
PROGRAMS AND FILMS ALAMEDA FILMS,
S.A. 0.16
ANTONIO AGUIRRE
ESPINOZA 0.18
CIMA FILMS, S.A.
DE C.V. 0.32
CINEMATOGRAFICA
CALDERON, S.A. 0.52
CINEMATOGRAFICA
FILMEX, S.A. DE C.V. 0.11
CINEMATOGRAFICA
RODRIGUEZ, S.A. 0.38
CUMBRE FILMS, S.A. 0.10
CHURUBUSCO, S.A. 1.58
DIANA INTERNACIO
NAL FILMS, S.A. 0.26
DISTRIBUIDORA RO
MARI, S.A. DE C.V. 1.25
FILMADORA MEXICANA
S.A. 0.27
GREGORIO WALER
STEIN WEINSTOCK 0.19
GRUPO GALINDO,
S.A. DE C.V. 0.26
GUSSI, S.A. DE C.V. 2.93
HERMINE KINDLE
FUTCHER 0.13
NUVISION, S.A. 0.21
ORO FILMS,
S.A. DE C.V. 0.37
PELICULAS RODRI
GUEZ, S.A. 0.43
PELICULAS Y VI
DEOS INTERNACIO
NALES, S.A. 0.78
PRODUCCIONES
AGUILA, S.A. DE C.V. 0.09
PRODUCCIONES
ALFA AUDIOVISUAL
S.A. DE C.V. 0.14
PRODUCCIONES
CARLOS AMADOR,
S.A. DE C.V. 0.12
PRODUCCIONES
GALUBI, S.A. 0.18
PRODUCCIONES
GONZALO ELVIRA,
S.A. DE C.V. 0.14
PRODUCCIONES
TOBARI, SA DE CV 0.19
QUALITY FILMS, S.A. 0.18
SECINE, S.A. DE C.V. 1.02
TEATRO CINE
ARCADIA, S.A. 0.16
UNION INTERNACIONAL
S.A. DE C.V. 0.09
OTHERS 2.03
PROGRAMS AND FILMS ABC DISTRIBUTION
COMPANY NO 1.87
ALFRED HABER
DISTRIBUTION, INC. NO 0.32
ALLIANCE
INTERNATIONAL NO 2.43
AMERICA PRODUC
CIONES, S.A. NO 0.88
AMERICAN INTER
NATIONAL T.V.
PRODUCTS, INC. NO 1.15
B.R.B. INTERNA
CIONAL, S.A. NO 0.55
BBC WORLWIDE
AMERICAS, INC. NO 0.27
BUENAVISTA INT. INCNO 2.05
CANAL + DISTRI
BUTION NO 1.13
CBS BROADCAST
INTERNATIONAL NO 1.98
CINAR FILMS, INC. NO 0.42
CLOVERWAY, INC. NO 1.12
CONSTELLATION
PICTURES, INC. NO 2.89
CORAL INTERNATIO
NAL TELEVISION
CORPORATION NO 0.18
DREAMWORKS NO 1.26
EVERGREEN ENTER
TAINMENT CORP. NO 0.17
FIREWORKS INTER
NATIONAL NO 0.83
FREMANTLE INTER
NATIONAL DISTRI
BUTION, LTD. NO 0.72
GAUMONT NO 0.45
GLOBAL ENTERTAIN
MENT MEDIA NO 0.19
HALLMARK ENTER
TAINMENT DISTRI
BUTION, CO. NO 0.32
HEARTS ENTER
TAINMENT INC. NO 0.39
HIGHPOINT
PRODUCTIONS INC. NO 0.23
HIT ENTERTAIN
MENT, PLC. NO 0.74
INDEPENDENT
INTERNATIONAL
T.V. INC. NO 2.18
INTERNATIONAL
MERCHANDISING
PROMOTIONS NO 0.38
ITSY BITSY ENTER
TAINMENT COMPANY NO 0.45
KING WORLD FSC
CORPORATION NO 0.26
KUSHNER LOCKE
INTERNATIONAL NO 0.26
LUCASFILM, LTD. NO 0.72
MGM/UA TELECOM
MUNICATIONS, INC. NO 1.33
MOVIEMEX INTER
NATIONAL, INC. NO 0.22
MTM INTERNATIONAL NO 0.24
MTV NETWORKS A
DIVISION OF VIACOM
INT. NO 0.87
MULTIMEDIA GROUP
OF CANADA NO 0.21
NBC INTERNATIONAL NO 0.49
NELVANA DKC INC NO 0.50
NEW LATIN IMAGE
CORPORATION NO 0.44
NGTV INTERNATIO
NAL, LTD. NO 0.45
NU IMAGE INCORPO
RATED NO 0.36
PARAMOUNT
PICTURES , CORP. NO 4.44
POLYGRAM TELEVI
SION INTERNATIONAL NO 0.55
RCN TELEVISION,
S.A. NO 0.22
REPRESENTACIONES
DE TELEVISION, S.A.NO 0.28
RYSHER ENTER
TAINMENT, INC. NO 0.84
SABAN INTERNA
TIONAL, N.V. NO 0.59
SABAN INTERNATIO
NAL SERVICES INC NO 0.20
SALSA
ENTERTAINMENT NO 0.25
SESAME WORKSHOP NO 0.23
SONY CORPORA
TION OF AMERICA NO 9.03
SPI INTERNATIO
NAL, INC. NO 0.29
STUDIOCANAL IMAGE NO 0.20
TELEVISION FILM
DISTRIBUTION NO 0.19
TELEVIX ENTERTAIN
MENT NO 0.29
THE FREMANTLE
CORPORATION NO 0.24
TOEI ANIMATION
CO., LTD NO 0.47
TOP ENTERTAINMENT
PRODUCTS, INC. NO 0.69
TURNER INTER
NATIONAL,INC. NO 0.39
TWENTIETH CEN
TURY FOX, INC. NO 6.89
UNIVERSAL STUDIOS
INTERNATIONAL, B.V.NO 6.70
VENEVISION INTER
NATIONAL, LTD. NO 0.55
VENTURA FILM
DISTRIBUTORS BV NO 2.20
WARNER BROS.
INTERNATIONAL
TELEVISION NO 10.58
WHILAND COMPANY NO 1.83
WORDLDIVISION
ENTERPRISES, INC. NO 0.95
ZACH MOTION
PICTURES INC. NO 0.73
OTHERS 3.51
COAXIAL CABLE RG NACIONAL DE
CONDUCTORES,
S.A. DE C.V. 13.34
PLASTIC STAPLE TV CABLE DE
COLOTLAN, S.A. C.V. 0.09
SINGLE TELEGRIP CORPODISENO DE
HERRAJES, S.A. 0.34
IDENTIFICATION PLAQUE RIBANDI, S.A. DE C.V. 0.18
HILTI BOLT HILTI MEXICANA,
S.A. DE C.V. NO 0.13
SWITCH CABLENETWORK
MEXICO NO 0.05
SWITCH DISTRIBUIDORA Y
COMERCIALIZADORA YES 1.89
TWO OUTLET DEVICE ATVC0CORPORATION YES 0.23
SINGLE RECORD DISCOS GAS,S.A. 0.67
CASSETTE CIN-RAM DE ME
XICO, S.A. DE C.V. 11.25
SONY MUSIC,
S.A. DE C.V. 0.24
LASERDISK,S.A. 13.89
COMPACT DISC LASERDISK,S.A. 11.47
SONOPRESS,S.A. 0.02
CIN-RAM DE ME
XICO, S.A. DE C.V. 5.90
SONY MUSIC,
S.A. DE C.V. 0.04
CIA. ICED, S.A. DE
C.V. 0.69
MASS CASSETTE,
S.A. DE C.V. 0.09
COMPACT DISC AMERIC DISC NO 86.00
DIGITAL INTERNA
CIONAL CO. NO 1.00
MUSICAL VIDEO CENTRAL DE
VIDEOS NO 1.00
COUCHE PAPER EDITORIAL ANTAR
TICA QUEBEC, S.A. 1.47
MYLLYKOSKI 4.30
GRUPO PIPSAMEX, S.A. 0.74
FOREST ALLIANCE 0.03
PAPEL, S.A. 0.03
DISTRIBUIDORA DE
PAPEL 0.38
PRODUCTORA NAL.
DE PAPEL 0.10
INTRANET 0.04
COUCHE PAPER BOWATER INCOR
PORATED YES 1.65
WEB SOURCE YES 2.75
FINNIPAP YES 8.18
TEMBEC, INC. YES 5.63
BULKLEY DUNTON YES 15.92
INPACEL YES 0.02
FOREST QUEST INC YES 1.71
GRAPHIC COM
MUNICATION YES 0.02
GREAT NORTHEM YES 0.21
NORKE CANADA YES 0.21
CELLMARK YES 0.02
PAPELES Y EQUIPO
AD YES 0.01
M-REAL YES 0.11
UPM KYMMENE SEAS YES 0.04
STORAENSO INTE YES 10.12
PAPER AND IMPRESSION PRODUCTORA CO
MERCIALIZADORA Y
EDITORES DE LI
BROS , S.A. DE C.V. 8.06
OFFSET
MULTICOLOR 17.44
GRAFICAS LA
PRENSA, SA DE CV 0.23
LABORATORIOS LITO
COLOR, S.A. DE C.V. 2.59
MOINO, S.A. 0.32
SERVICIOS PROFE
SIONALES 0.12
PAPER AND EDITORIAL ANTAR
IMPRESSION TICA QUEBEC, S.A. YES 2.07
GRUPO OP GRAFICAS
S.A. YES 0.50
PRINTER COLOMBIA
NA, S.A. YES 0.45
TECIMPRE, S.A. YES 0.24
ST. IVES, INC. YES 11.10
MELCAST LITHO YES 0.25
GEM GRUPO
EDITORAS YES 0.19
WORLD COLOR YES 2.09
BEST LITHO YES 0.33
------------------------------------------------------------------------------------------------------------
NOTES
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11
DOMESTIC SALES CONSOLIDATED
FINAL PRINTING
---------------------------------------------------------------------------------------------------------------------------
TOTAL PRODUCTION NET SALES MARKET MAIN
----------------------------------------------- ----------------------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT SHARE TRADEMARKS COSTUMERS
(%)
---------------------------------------------------------------------------------------------------------------------------
TELEVISION:
PROGRAMMING HALF
HOURS PRODUCED
(DOMESTIC) 104
ADVERTISED TIME
SOLD (HALF HOURS) 6 12,881,036 PROCTER & GAMBLE DE MEXICO,
S.A. DE C.V.
THE COCA-COLA EXPORT
COMPANY.
UNILEVER DE MEXICO, S.A.
DE C.V.
SABRITAS, S. DE R.L.
DE C.V.
GRUPO BIMBO, S.A. DE C.V.
PEPSI COLA MEXICANA, S.A
DE C.V.
CERVECERIA MODELO, S.A.
DE C.V.
TELEFONOS DE MEXICO, S.A.
DE C.V.
DANONE DE MEXICO, S.A.
DE C.V.
NESTLE MEXICO, S.A. DE C.V.
KIMBERLY CLARK DE MEXICO,
S.A. DE C.V.
CENTRAL IMPULSORA , S.A.
DE C.V.
COSBEL, S.A. DE C.V.
FRUGOSA, S.A. DE C.V.
OTHER INCOME 675,663
PROGRAMMING FOR
PAY TELEVISION:
SALE OF SIGNALS 374,199
ADVERTISED TIME SOLD 67,858
PUBLISHING:
MAGAZINE CIRCULATION 135,449 982,061 57,094 591,909 ERES MAGAZINE GENERAL PUBLIC (AUDIENCE)
SOMOS MAGAZINE DEALERS
BIOGRAPHICAL BOOKS COMMERCIAL CENTERS (MALLS)
QUO MAGAZINE
SOCCERMANIA MAGAZINE
TV Y NOVELAS MAGAZINE,
TELEGUIA MAGAZINE,
VANIDADES MAGAZINE AND
COSMOPOLITAN MAGAZINE
PUBLISHING 482,338 VARIOUS
PUBLISHING
DISTRIBUTION: 21,127 522,363 MAGAZINE:
"SELECCIONES" "ULTIMOS EXITOS
DE LA NOVELA HISTORICA"
"REVISTA DEL CONSUMIDOR"
"FIGURAS DE CRISTAL"
"CLASICOS DE GRECIA Y ROMA"
CABLE TELEVISION:
ANALOGIC AND
DIGITAL SERVICE 1,040,404 GENERAL PUBLIC
SERVICE INSTALLATION 9,304 OPERADORA MEGACABLE, S.A.
DE C.V.
INSTALLATION OF
PREMIUM CHANNELS 1,206 SCOTIABANK INVERLAT, S.A.
PAY PER VIEW 1,358 CERVECERIA CUAUHTEMOC
MOCTEZUMA, S.A. DE C.V.
CHANNEL
COMMERCIALIZATION 28,163 GRUPO WARNER LAMBERT
MEXICO, S. DE R.L DE C.V.
OTHER 27,285 NISSAN MEXICANA, S.A.
DE C.V.
TELECOMUNICACIONES Y
ENTRETENIMIENTO, S.A.
DE C.V.
VISTAR, S.A. DE C.V.
KIMBERLY CLARK DE MEXICO,
S.A. DE C.V.
BANCO MERCANTIL DEL
NORTE, S.A.
ARENA COMMUNICATIONS, S.A.
DE C.V.
PHARMACIA & UPJOHN, S.A.
DE C.V.
SEGUROS MONTERREY NEW YORK
LIFE, S.A. DE C.V.
RADIO:
ADVERTISED
TIME SOLD 145,084 INDUSTRIAS VINICOLAS PEDRO
DOMEQ, S.A.
PROPIMEX, S.A. DE C.V.
TELEFONOS DE MEXICO, S.A.
DE C.V.
CEMENTOS APASCO, S.A.
DE C.V.
GIGANTE, S.A. DE C.V.
VENTAS Y SERVICIOS AL
CONSUMIDOR, S.A. DE C.V.
CERVECERIA CUAUHTEMOC
MOCTEZUMA,S.A. DE C.V.
CERVECERIA MODELO, S.A.
DE C.V.
LA MADRILENA , S.A.
DE C.V.
BURGER KING MEXICANA, S.A.
DE C.V.
OTHER BUSINESSES:
DISTRIBUTION,
RENTALS, AND SALE
OF MOVIE RIGHTS 486,394 VIDEOVISA, S.A. DE C.V.
CINEMEX, S.A. DE C.V.
CINEMARK DE MEXICO, S.A.
DE C.V.
ORGANIZACION RAMIREZ, S.A.
DE C.V.
COMPANIA OPERADORA DE
TEATROS, S.A. DE C.V.
GENERAL PUBLIC (AUDIENCE)
SPECIAL EVENTS
AND SHOW PROMOTION 485,382 AMERICA GENERAL PUBLIC (AUDIENCE)
NECAXA FEDERACION MEXICANA DE
REAL SAN LUIS FUTBOL, A.C.
TICKET ACCES
NATIONWIDE PAGING
SERVICE 327,448 SKYTEL FERROCARRILES NACIONALES
DE MEXICO, S.A.
BANCO NACIONAL DE
MEXICO, S.A.
HEWLETT PACKARD DE MEXICO,
S.A. DE C.V.
COMISION FEDERAL DE
ELECTRICIDAD
EDS DE MEXICO, S.A.
DE C.V.
CEMEX DE MEXICO, S.A.
PROCTER AND GAMBLE DE
MEXICO, S.A. DE C.V.
SECRETARIA DE GOBERNACION
SCHERING PLOUGH, S.A.
DE C.V.
BBVA BANCOMER, S.A.
AVANTEL, S.A. DE C.V.
I.B.M. DE MEXICO, S.A.
INTERNET SERVICES 69,916 ESMAS.COM MEDIA CONTACTS, S.A.
DE C.V.
I.B.M. DE MEXICO
COMERCIALIZACION Y
SERVICIOS, S.A. DE C.V.
DANONE DE MEXICO, S.A.
DE C.V.
INTEL TECNOLOGIA DE
MEXICO, S.A. DE C.V.
DUBBING SERVICES 6,926 DISTRIBUIDORA ROMARI,
S.A. DE C.V.
UNITED INTERNATIONAL
PICTURES, S, DE R.L.
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL 982,061 18,224,236
-----------------------------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11
FOREIGN SALES CONSOLIDATED
FINAL PRINTING
---------------------------------------------------------------------------------------------------------------------------------
TOTAL PRODUCTION NET SALES MAIN
----------------------------------------------- ----------------------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT DESTINATION TRADEMARKS COSTUMERS
---------------------------------------------------------------------------------------------------------------------------------
TELEVISION BROADCASTING:
ADVERTISING TIME SOLD 380,915 UNITED STATES CPIF VENTURE, INC.
OF AMERICA VISA INTERNATIONAL SERVICE
ASSOCIATION
NISSIN FOOD PRODUCTS, CO
LTD.
MASTER CARD INTERNATIONAL
GLOBAL MARKETING
CHEIL COMMUNICATIONS,INC.
REYNOLDS CONSUMER PRODUCTS
PROGRAMMING FOR PAY TELEVISION:
SALES OF SIGNALS 108,963 SPAIN
ARGENTINA
PERU
GUATEMALA
PROGRAM LICENSING: VENEZUELA
PROGRAMMING AND ROYALTIES 1,405,174 UNITED STATES
OF AMERICA TELEVISA MCCANN ERICKSON
CENTRAL AMERICA TELEVISA MINDSHARE
CARIBBEAN TELEVISA BBDO WORLDWIDE
EUROPE TELEVISA SPOTPLUS
SOUTH AMERICA TELEVISA CARAT, INC.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11
FOREIGN SALES CONSOLIDATED
FINAL PRINTING
---------------------------------------------------------------------------------------------------------------------------------
TOTAL PRODUCTION NET SALES MAIN
----------------------------------------------- ----------------------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT DESTINATION TRADEMARKS COSTUMERS
---------------------------------------------------------------------------------------------------------------------------------
AFRICA TELEVISA OPTIMUM MEDIA, INC.
ASIA TELEVISA GREY ADVERTISING, INC.
INITIATIVE MEDIA, INC.
GSD&M
DAILEY & ASSOCIATES
PUBLISHING:
MAGAZINE CIRCULATION, BOOKS AND
ADVERTISING 26,302 369,540 GUATEMALA AND
COSTA RICA ERES MAGAZINE GENERAL PUBLIC
UNITED STATES T.V. Y NOVELAS (AUDIENCE)
PANAMA MAGAZINE DEALERS
SOUTH AMERICA VANIDADES MAGAZINE
CENTRAL AMERICA COSMOPOLITAN MAGAZINE
MAXIM MAGAZINE
PUBLISHING 224,666
PUBLISHING DISTRIBUTION: 13,192 810,133 PANAMA SEMANA MAGAZINE GENERAL PUBLIC
(AUDIENCE)
SOUTH AMERICA SELECCIONES MAGAZINE
CROMOS MAGAZINE
MUESTRAS DE
JARDINERIA MAGAZINE
HOLA MAGAZINE
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11
DOMESTIC SALES CONSOLIDATED
FINAL PRINTING
---------------------------------------------------------------------------------------------------------------------------------
TOTAL PRODUCTION NET SALES MAIN
----------------------------------------------- ----------------------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT DESTINATION TRADEMARKS COSTUMERS
---------------------------------------------------------------------------------------------------------------------------------
OTHER BUSINESSES:
DUBBING SERVICES 35,642 UNITED STATES NHK INTERNATIONAL
OF AMERICA POST MODERN, INC.
C.B.S. BROADCAST
INTERNATIONAL
TWENTIETH CENTURY FOX
INTERNATIONAL TELEVISION
GLOBE TV INTERNATIONAL
FIREWORKS ENTERTAINMENT
=================================================================================================================================
TOTAL 0 3,335,033
=================================================================================================================================
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 4 Year: 2002
GRUPO TELEVISA, S.A.
ANNEX 12
SCHEDULE FOR THE DETERMINATION OF THE NET FISCAL EARNINGS ACCOUNT (NFEA)
(Thousands of Pesos)
NFEA BALANCE FOR PREVIOUS PERIOD FOR WHICH IS DETERMINED
NFEA BALANCE TO DECEMBER 31st OF: 2001 4,836,048
Number of shares Outstanding at the Date of the NFEA: 9,132,997,588
( Units )
X ARE THE FIGURES FISCALLY AUDITED? ARE FIGURES FISCALLY CONSOLIDATED?
DIVIDENDS COLLECTED IN THE PERIOD
NUMBER OF SHARES
QUARTER SERIES OUTSTANDING DATE OF SETTLEMENT AMOUNT
0 0 0.00 0.00
DETERMINATION OF THE NFEA OF THE PRESENT YEAR
NFE FROM THE PERIOD FROM JANUARY 1 TO 31 OF DECEMBER, 2002
FISCAL EARNINGS 338,028
- DETERMINED INCOME 118,310
+ DEDUCTED WORKER'S PROFIT' SHARING 0
- DETERMINER WORKER 0
- DETERMINED RFE 0
- NON DEDUCTABLES 127,286
NFE OF PERIOD : 92,432
BALANCE OF THE NFEA AT THE END OF THE PERIOD
(Present year Information)
NFEA BALANCE TO 31 OF DECEMBER OF 2002 5,215,963
Number of Shares Outstanding at the Date of the NFEA: 9,133,040,705
( Units )
MODIFICATION BY COMPLEMENTARY
NFEA BALANCE TO: DECEMBER 31st OF: 0000 0
Number of Shares Outstanding at the Date of the NFEA: 0
( Units )
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 4 YEAR: 2002
GRUPO TELEVISA, S.A.
ANNEX 12 - A
SCHEDULE FOR THE DETERMINATION OF THE NET FISCAL EARNINGS ACCOUNT
REINVERTED (NFEAR)
(Thousands of Pesos)
NFEAR BALANCE FOR PREVIOUS PERIOD FOR WHICH IS DETERMINED
NFEAR BALANCE TO DECEMBER 31st OF: 2001 638,370
Number of shares Outstanding at the Date of the NFEAR: 9,132,997,588
( Units )
ARE THE FIGURES FISCALLY AUDITED? ARE FIGURES FISCALLY CONSOLIDATED?
DIVIDENDS COLLECTED IN THE PERIOD
NUMBER OF SHARES
QUARTER SERIES OUTSTANDING DATE OF SETTELMENT AMOUNT
0 0 0.00 0.00
DETERMINATION OF THE NFEAR OF THE PRESENT YEAR
NFER FROM THE PERIOD TO 31 OF JANUARY 2002
FISCAL EARNINGS
+ DEDUCTED WORKERS' PROFIT SHARING
- DETERMINED INCOME TAX:
- NON-DEDUCTABLES
- (+) EARNINGS (LOSS) FROM FOREIGN OF PROFIT:
DETERMINATED RFE OF THE FISCAL YEAR
- INCOME TAX (DEFERRED ISR):
* FACTOR TO DETERMINE THE NFEAR:
NFE OF THE PERIOD
BALANCE OF THE NFEAR AT THE END OF THE PERIOD
NFEAR BALANCE TO: 31 OF DECEMBER 2002 624,246
Number of Shares Outstanding at the Date of the NFEAR: 9,133,040,705
( Units )
MODIFICATION BY COMPLEMENTARY
NFEAR BALANCE TO: DECEMBER 31st OF: 2001 0
Number of Shares Outstanding at the Date of the NFEAR: 0
( Units )
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA DATE: 2/26/2003
DATOS GENERALES DE LA EMISORA
===============================================================================
RAZON SOCIAL: GRUPO TELEVISA, S.A.
DOMICILIO: AV. VASCO DE QUIROGA #2000
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5261-20-00
FAX: 5261-24-94 AUTOMATICO
E-MAIL: ir@televisa.com.mx
DIRECCION DE INTERNET: www.televisa.com.mx
DATOS FISCALES DE LA EMISORA
===============================================================================
RFC EMPRESA: GTE901219GK3
DOMICILIO: AV. VASCO DE QUIROGA # 2000
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
RESPONSABLE DE PAGO
-------------------------------------------------------------------------------
NOMBRE: C.P. JOSE RAUL GONZALEZ LIMA
DOMICILIO: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 1
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5261-25-77
FAX: 5261-20-43
DATOS DE LOS FUNCIONARIOS
===============================================================================
PUESTO BMV: PRESIDENTE DEL CONSEJO DE ADMINISTRACION
PUESTO: PRESIDENTE DEL CONSEJO DE ADMINISTRACION
NOMBRE: SR. EMILIO FERNANDO AZCARRAGA JEAN
DOMICILIO: AV. CHAPULTEPEC # 28 PISO 1
COLONIA: DOCTORES
C. POSTAL: O6724
CIUDAD Y ESTADO: MEXICO D.F.
TELEFONO: 5709-42-89
FAX: 5709-39-88
E-MAIL: emilio@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: DIRECTOR GENERAL
PUESTO: PRESIDENTE Y DIRECTOR GENERAL DEL GRUPO
NOMBRE: SR. EMILIO FERNANDO AZCARRAGA JEAN
DOMICILIO: AV. CHAPULTEPEC # 28 PISO 1
COLONIA: DOCTORES
C. POSTAL: O6724
CIUDAD Y ESTADO: MEXICO D.F.
TELEFONO: 5709-42-89
FAX: 5709-39-88
E-MAIL: emilio@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: DIRECTOR DE FINANZAS
PUESTO: VICEPRESIDENTE EJECUTIVO DE ADMINISTRACION Y FINANZAS
NOMBRE: LIC. ALFONSO DE ANGOITIA NORIEGA
DOMICILIO: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO D.F.
TELEFONO: 5261-24-52
FAX: 5261-24-54
E-MAIL: aangoitia@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: RESPONSABLE DE ENVIO DE INFORMACION FINANCIERA TRIMESTRAL
PUESTO: DIRECTOR GENERAL DE INFORMACION A BOLSA
NOMBRE: C.P. JOSE RAUL GONZALEZ LIMA
DOMICILIO: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 1
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5261-25-77
FAX: 5261-20-43
E-MAIL: rglima@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: RESPONSABLE DEL AREA JURIDICA
PUESTO: VICEPRESIDENTE JURIDICO DEL GRUPO
NOMBRE: LIC. JUAN SEBASTIAN MIJARES ORTEGA
DOMICILIO: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5261-25-85
FAX: 5261-25-46
E-MAIL: jmijares@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: SECRETARIO DEL CONSEJO DE ADMINISTRACION
PUESTO: SECRETARIO DEL CONSEJO DE ADMINISTRACION
NOMBRE: LIC. JUAN SEBASTIAN MIJARES ORTEGA
DOMICILIO: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5261-25-85
FAX: 5261-25-46
E-MAIL: jmijares@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: PROSECRETARIO DEL CONSEJO DE ADMINISTRACION
PUESTO: ASESOR LEGAL
NOMBRE: LIC. RICARDO MALDONADO YANEZ
DOMICILIO: MONTES URALES 505, PISO 3
COLONIA: LOMAS DE CHAPULTEPEC
C. POSTAL: 11000
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5201-74-47
FAX: 5520-10-65
E-MAIL: rmaldonado@macf.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: RESPONSABLE DE INFORMACION A INVERSIONISTAS
PUESTO: DIRECTOR DE RELACIONES CON INVERSIONISTAS
NOMBRE: LIC. ALBERTO ISLAS TORRES
DOMICILIO: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5261-20-42
FAX: 5261-24-94
E-MAIL: aislast@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: ACREDITADO PARA ENVIO DE INFORMACION VIA EMISNET
PUESTO: DIRECTOR GENERAL DE INFORMACION A BOLSA
NOMBRE: C.P. JOSE RAUL GONZALEZ LIMA
DOMICILIO: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 1
COLONIA: SANTA FE
C. POSTAL: O1210
CIUDAD Y ESTADO: MEXICO, D.F.
TELEFONO: 5261-25-77
FAX: 5261-20-43
E-MAIL: rglima@televisa.com.mx
-------------------------------------------------------------------------------
PUESTO BMV: ACREDITADO PARA ENVIO DE EVENTOS RELEVANTES VIA EMISNET
PUESTO: PRESIDENTE DEL CONSEJO DE ADMINISTRACION
NOMBRE: SR. EMILIO FERNANDO AZCARRAGA JEAN
DOMICILIO: AV. CHAPULTEPEC # 28 PISO 1
COLONIA: DOCTORES
C. POSTAL: O6724
CIUDAD Y ESTADO: MEXICO D.F.
TELEFONO: 5709-42-89
FAX: 5709-39-88
E-MAIL: emilio@televisa.com.mx
-------------------------------------------------------------------------------