Grupo Televisa (TELEVISACPO) investor relations material

Executive summary

• Focused on attracting and retaining value customers, expanding FTTH upgrades, and extracting synergies from Izzi and Sky integration.

• Revenue declined 3.1% year-over-year to MXN 14.5 billion, mainly due to a sharp drop in Satellite Services revenue, partially offset by growth in Residential and Enterprise Services.

• Efficiency measures expanded operating segment income margin by 330 bps, with OpEx down 8% year-on-year.

• Net income attributable to stockholders surged to MXN 1,031.9 million from MXN 319.8 million, driven by higher share of income from associates and joint ventures, lower other expenses, and reduced income taxes.

• Political sales infrastructure expanded to capitalize on record political ad spend ahead of U.S. elections.

Financial highlights

• Segment revenue of MXN 14.5 billion fell 3.1% year-on-year; operating segment income of MXN 6 billion rose 5.2%.

• Residential Services revenue increased 0.9% year-on-year to MXN 10.6 billion; Enterprise Services revenue up 30% year-on-year to MXN 1.3 billion.

• Satellite Services revenue fell 24.6% year-on-year to MXN 2.6 billion, reflecting a 27.6% drop in RGUs.

• Operating segment income margin reached 41.4%, up 330 bps year-on-year, best in three years.

• Capital expenditures totaled MXN 2.5 billion in Q1, 17.2% of sales, mainly for FTTH upgrades.

Outlook and guidance

• Expect to sustain profitability above 40% in coming quarters.

• On track to upgrade another 4.5 million homes to FTTH in 2026, targeting 75% FTTH coverage by year-end and 100% by mid-2027.

• CapEx to remain in low 20% of revenue during network upgrade, dropping to 15% after completion in 2027.

• Continued focus on FTTH upgrades, targeting over 1.5 million homes for the year.

• Enterprise Services expected to benefit from new public and private sector projects.