Grupo Televisa (TELEVISACPO) investor relations material

Executive summary

• Revenue and operating segment income declined by 6.3% and 4.3% year-over-year, but margin improved to 38.4% due to efficiencies and synergies.

• Broadband subscribers reached 5.6 million with net additions, and mobile subscribers grew by 83.5 thousand after a service relaunch.

• Net income turned positive at Ps.552.5 million, driven by higher operating income, lower expenses, and increased associate income.

• Sky segment lost 346.6 thousand RGUs, with revenue down 16.3% year-over-year.

• Operating cash flow margin was 24.1% for the quarter.

Financial highlights

• Consolidated revenue for Q2'25 was Ps.14,729 million, down 6.3% year-over-year.

• Operating segment income was Ps.5,694 million, down 4.3% year-over-year.

• Operating segment income margin improved by 70 basis points to 38.4% year-over-year.

• Net income attributable to stockholders was Ps.474.5 million, up from a loss of Ps.25.6 million year-over-year.

• Operating cash flow margin stood at 24.1% for the quarter.

Outlook and guidance

• CapEx guidance for 2025 set at US$600 million, down from previous levels, with focus on higher investment returns and accelerated deployment in H2.

• Continued focus on value customers, operational efficiencies, and integration to drive shareholder value.

• Churn rates at historic lows, with expectations for continued low churn and stable, incremental growth in high-value subscribers.