The Mexican media giant Televisa reported this Thursday an annual increase of 493.2% in its net profits for 2022, when it earned 43,628.8 million pesos (about 2,181.44 million dollars) after its merger with univision and focus on other businesses.
In its results report, the company registered an annual increase of 2.2% in its net sales to 75,526.6 million pesos (3,776.3 million dollars).
On the other hand, the company recorded a 58.95% drop in profit or operating profit, which fell to 4,387.5 million pesos (219.37 million dollars).
While sales costs grew by 4.62% annually to 48,807.6 million pesos (2,440.3 million dollars).
The main boost to Televisa’s profits came from other businesses, which include publishing, games and sweepstakes, radio, soccer, and distribution of feature films and publications.
The profits or benefits of this sector grew by 186.8% to 1,691 million pesos (84.55 million dollars).
Although the profit or profit of its cable segment decreased by 1.9% to 19,902.8 million pesos (995.14 million dollars).
The total debt of the telecommunications giant decreased 16.34% to 105,240.7 million pesos (5,262 million dollars).
The financial results of Grupo Televisa caused expectation because on January 31, 2022, it completed a combination of media, content and production assets with Univision to create TelevisaUnivision.
The goal was to create a giant in the Spanish-language media sector and reach 100 million Spanish-speakers, as well as allow Televisa to focus on its other businesses outside of content creation.
When the merger was announced, it was reported that Grupo Televisa would receive 4.8 billion dollars, of which 3 billion would be in cash and the rest in shares, to become the majority shareholder, with a 45% stake, of the new company TelevisaUnivision .
FOURTH QUARTER WITH LOSS
Despite the annual profit, Televisa reported a net loss of 13,819.9 million pesos (690.9 million dollars) in the fourth quarter, which compares with earnings of 4,191.4 million pesos (209.57 million dollars) of the same period of the previous year.
This despite a 1.61% growth in net sales, which amounted to 19,132.3 million pesos (956.6 million dollars).
Source: EFE
Source: Gestion
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