MEXICO CITY.- Grupo Televisa, the largest media company in Latin America, reported on Monday a net loss of 8.9 billion pesos (358 million dollars) during the first quarter of the year.
The net loss attributable to the Company’s shareholders amounted to 9,651.9 million pesos (388.2 million dollars), in the first quarter of 2020, compared to a net profit of 541.7 million pesos (21.8 million dollars) in the first quarter of 2019, the company indicated.
In its results for the first quarter of 2020, the Televisa Group explained that this net loss was mainly due to the impact of the depreciation of the Mexican peso and the adjustment of the book value of its participation in Univisión.
The unfavorable change reflected an increase of 6,433.5 million pesos (258.7 million dollars) in financial expenses, net, as a result of the impact of the depreciation of the peso on the company’s net debt position in dollars.
Likewise, an unfavorable change of 5,514.4 million pesos (221.8 million dollars) in the profit or loss participation of associates and joint ventures, mainly due to a non-monetary adjustment in the book value of their participation in the Univisión chain. Televisa explained in its report.
Also a decrease of 582.1 million pesos (23.4 million dollars) in net profit before depreciation and amortization and an increase of 431.8 million pesos (17.3 million dollars) in attributable net profit to the non-controlling interest, he added.
In the first quarter of 2020, net sales decreased 0.7% to 23,228.8 million pesos (934.3 million dollars), compared to 23,395.2 (941 million dollars) in the first quarter of 2019 .
The profit of the operating segments reached 8,709.2 million pesos (350.2 million dollars), a decrease of 7.1% compared to 9,374.4 million pesos (377 million dollars) in the same quarter of the year 2019.
The Group’s total debt, lease liabilities and other documents payable at the end of the first quarter of 2020 was 168,411.3 million pesos (6,774.3 million dollars), 36,787 pesos (1,479.7 million dollars) plus than the 131,624 million pesos (5,294.6 million dollars) of December 31, 2019.
The Televisa Group distributes the content it produces through open television channels in Mexico and in 50 countries, through 26 brands of pay television channels.
The company has a majority stake in Sky, the satellite pay television system that operates in Mexico, the Dominican Republic and Central America. EFE.
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