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 May, 2003
GRUPO TELEVISA, S.A.
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(Translation of registrant's name into English)
Av. Vasco de Quiroga No. 2000, Colonia Sante Fe 01210 Mexico, D.F.
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(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
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(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
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(If "Yes" is marked indicate below the file number assigned to
the registrant in connection with Rule 12g-3-2(b): 82 .)
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
GRUPO TELEVISA, S.A.
DIRECTOR REPORT (1)
ANNEX 1
PAGE 1
CONSOLIDATED
FINAL PRINTING
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MEXICO CITY, D.F., APRIL 29, 2003 -- GRUPO TELEVISA, S.A. (NYSE:TV; BMV:
TLEVISA CPO) TODAY ANNOUNCED RESULTS FOR THE FIRST QUARTER OF 2003.
RESULTS, WHICH ARE ATTACHED, ARE IN MILLIONS OF MEXICAN PESOS AND HAVE BEEN
PREPARED IN ACCORDANCE WITH MEXICAN GAAP, AND ADJUSTED TO PESOS IN
PURCHASING POWER AS OF MARCH 31, 2003.
NET SALES
NET SALES INCREASED 4.8% TO PS.4,811.8 MILLION IN THE FIRST QUARTER OF 2003
FROM PS.4,592.7 MILLION IN THE FIRST QUARTER OF 2002.
THE INCREASE IN NET SALES WAS LED BY: I) HIGHER REVENUES IN THE TELEVISION
BROADCASTING SEGMENT MAINLY DUE TO AN INCREASE IN ADVERTISING TIME SOLD, AS
WELL AS THE POLITICAL ADVERTISING CAMPAIGNS FOR THE MID-TERM ELECTIONS IN
MEXICO; II) DOUBLE DIGIT REVENUE GROWTH IN THE PROGRAMMING LICENSING
SEGMENT, REFLECTING HIGHER ROYALTIES PAID TO THE COMPANY BY UNIVISION UNDER
THE UNIVISION PROGRAMMING LICENSING AGREEMENT; III) HIGHER SALES IN THE
PROGRAMMING FOR PAY TELEVISION SEGMENT; AND IV) AN INCREASE IN SALES IN THE
PUBLISHING AND PUBLISHING DISTRIBUTION SEGMENTS, THE LATTER OF WHICH IS
MAINLY DUE TO THE ACQUISITION OF A DISTRIBUTION COMPANY IN CHILE DURING THE
SECOND QUARTER OF 2002. THESE INCREASES WERE PARTIALLY OFFSET BY LOWER
REVENUES IN THE CABLE TELEVISION, OTHER BUSINESSES AND RADIO SEGMENTS.
EBITDA
EBITDA IS DEFINED AS OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATION.
THE COMPANY'S EBITDA IN THE FIRST QUARTER OF 2003 INCREASED 14.9% TO
PS.1,304.7 MILLION FROM PS.1,135.1 MILLION REPORTED IN THE SAME PERIOD OF
2002, AND EBITDA MARGIN INCREASED TO 27.1% FROM 24.7% IN THE SAME PERIOD OF
2002.
OPERATING INCOME
OPERATING INCOME INCREASED 19.6% TO PS.926.9 MILLION IN THE FIRST QUARTER
OF 2003 FROM PS.774.9 MILLION REPORTED IN THE SAME PERIOD OF 2002. THESE
INCREASES PRIMARILY RESULTED FROM REVENUE GROWTH AND LOWER OPERATING
EXPENSES, PARTIALLY OFFSET BY HIGHER COSTS OF SALES, MAINLY FROM THE
ACQUISITION OF THE DISTRIBUTION COMPANY IN CHILE, AS WELL AS HIGHER
DEPRECIATION AND AMORTIZATION COSTS.
THE CHARGE FOR OPERATING DEPRECIATION AND AMORTIZATION WAS OF PS.377.8
MILLION AND PS.360.2 MILLION IN THE FIRST QUARTER OF 2003 AND 2002,
RESPECTIVELY.
NET INCOME
THE COMPANY GENERATED NET INCOME IN THE AMOUNT OF PS.250.1 MILLION IN THE
FIRST QUARTER OF 2003, AS COMPARED TO A NET INCOME OF PS.70.1 MILLION IN
LAST YEAR'S COMPARABLE PERIOD. THE NET INCREASE OF PS.180.0 MILLION
REFLECTED A PS.152.0 MILLION INCREASE IN OPERATING INCOME; A PS.50.5
MILLION DECREASE IN RESTRUCTURING AND NON-RECURRING CHARGES; A PS.2.8
MILLION DECREASE IN OTHER EXPENSE-NET; A PS.58.2 MILLION DECREASE IN LOSS
FROM DISCONTINUED OPERATIONS; AND A DECREASE OF PS.31.1 MILLION IN MINORITY
INTEREST. THESE FAVORABLE CHANGES WERE PARTIALLY OFFSET BY A PS.30.1
MILLION INCREASE IN INTEGRAL COST OF FINANCING; A PS.64.1 MILLION INCREASE
IN INCOME TAXES AND A PS.20.4 MILLION INCREASE IN EQUITY IN RESULTS FROM
AFFILIATES.
RESULTS BY BUSINESS SEGMENTS
TELEVISION BROADCASTING
THE INCREASE OF 2.2% (PS.2,937.7 MILLION AND PS.2,874.5 MILLION FOR THE
FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) IN TELEVISION BROADCASTING
SALES IS MAINLY ATTRIBUTABLE TO FOUR FACTORS: I) AN INCREASE IN ADVERTISING
TIME SOLD; II) THE POLITICAL ADVERTISING CAMPAIGNS FOR THE MID-TERM
ELECTIONS IN MEXICO; III) THE GREAT SUCCESS OF THE PROGRAM BIG BROTHER II;
AND IV) AN INCREASE OF 17% IN LOCAL SALES DRIVEN BY CHANNEL 4TV, OUR LOCAL
CHANNEL IN MEXICO CITY AND THE SURROUNDING AREA. THESE FACTORS CONTRIBUTED
TO A LOW SINGLE DIGIT INCREASE IN SALES FOR THIS SEGMENT FOR THE FIRST
QUARTER OF 2003, IN LINE WITH OUR EXPECTATIONS.
TELEVISION BROADCASTING EBITDA INCREASED 7.7% (PS.1,058.5 MILLION AND
PS.983.2 MILLION FOR THE FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY)
RELATED TO HIGHER SALES, A 2.5% REDUCTION IN OPERATING EXPENSES AND A
MARGINAL DECREASE IN COST OF SALES. OPERATING INCOME INCREASED 6.9%
(PS.812.6 MILLION AND PS.760.5 MILLION FOR THE FIRST QUARTER OF 2003 AND
2002, RESPECTIVELY) DUE TO THE INCREASE IN EBITDA, PARTIALLY OFFSET BY
HIGHER DEPRECIATION AND AMORTIZATION COSTS.
PROGRAMMING FOR PAY TELEVISION
THE 13.3% (PS.156.0 MILLION AND PS.137.7 MILLION FOR THE FIRST QUARTER OF
2003 AND 2002, RESPECTIVELY) INCREASE IN PROGRAMMING FOR PAY TELEVISION
SALES RESULTED FROM HIGHER REVENUES FROM SIGNALS SOLD TO PAY TELEVISION
SYSTEMS IN MEXICO, AS WELL AS A MARGINAL SALES INCREASE IN LATIN AMERICA,
PARTIALLY OFFSET BY LOWER REVENUES FROM SIGNALS SOLD TO PAY TELEVISION
SYSTEMS IN SPAIN.
OPERATING INCOME INCREASED 66.2% (PS.23.1 MILLION AND PS.13.9 MILLION FOR
THE FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) DUE TO HIGHER SALES AND
LOWER OPERATING EXPENSES, PARTIALLY OFFSET BY HIGHER SIGNAL COSTS.
PROGRAMMING LICENSING
THE 26.7% (PS.406.7 MILLION AND PS.321.1 MILLION FOR THE FIRST QUARTER OF
2003 AND 2002, RESPECTIVELY) INCREASE IN PROGRAMMING LICENSING SALES IS
ATTRIBUTABLE TO: I) AN INCREASE IN THE ROYALTIES PAID TO THE COMPANY BY
UNIVISION UNDER THE UNIVISION PROGRAMMING LICENSING AGREEMENT, WHICH
AMOUNTED TO U.S.$21.1 MILLION, INCLUDING THE ROYALTY FROM THE TELEFUTURA
NETWORK, WHICH THE COMPANY BEGAN RECEIVING IN THE FIRST QUARTER OF 2003;
II) HIGHER EXPORT SALES TO ASIA; AND III) THE TRANSLATION EFFECT OF FOREIGN
CURRENCY DENOMINATED SALES OF PS.42.8 MILLION. THESE INCREASES WERE
PARTIALLY OFFSET BY LOWER EXPORT SALES TO LATIN AMERICA BECAUSE OF THE
DIFFICULT ECONOMIC CONDITIONS IN THAT REGION.
OPERATING INCOME HAD AN IMPRESSIVE INCREASE OF 230.9% (PS.122.1 MILLION AND
PS.36.9 MILLION FOR THE FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY),
REFLECTING HIGHER SALES AND LOWER COSTS OF SALES, PARTIALLY OFFSET BY AN
INCREASE IN OPERATING EXPENSES.
PUBLISHING
THE 10.0% (PS.342.7 MILLION AND PS.311.5 MILLION FOR THE FIRST QUARTER OF
2003 AND 2002, RESPECTIVELY) INCREASE IN PUBLISHING SALES WAS RELATED TO A
HIGHER NUMBER OF MAGAZINES AND ADVERTISING PAGES SOLD IN MEXICO, HIGHER
ADVERTISING PAGES SOLD ABROAD, AND THE TRANSLATION EFFECT ON
FOREIGN-CURRENCY DENOMINATED SALES, WHICH AMOUNTED TO PS.14.5 MILLION.
THESE INCREASES WERE PARTIALLY OFFSET BY A DECREASE IN THE NUMBER OF
MAGAZINES SOLD ABROAD.
PUBLISHING EBITDA INCREASED 3.2% (PS.29.0 MILLION AND PS.28.1 MILLION FOR
THE FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) ATTRIBUTABLE TO HIGHER
SALES, PARTIALLY OFFSET BY INCREASES IN COST OF SALES AND OPERATING
EXPENSES RELATED TO THE NEW MAGAZINES LAUNCHED, AN INCREASE IN PROMOTION
AND ADVERTISING COSTS, AS WELL AS BY THE TRANSLATION EFFECT ON
FOREIGN-CURRENCY DENOMINATED COSTS AND EXPENSES. PUBLISHING OPERATING
INCOME INCREASED 15.2% (PS.24.3 MILLION AND PS.21.1 MILLION FOR THE FIRST
QUARTER OF 2003 AND 2002, RESPECTIVELY) DUE TO A REDUCTION IN AMORTIZATION
AND DEPRECIATION COSTS.
PUBLISHING DISTRIBUTION
PUBLISHING DISTRIBUTION SALES INCREASED BY 80.4% (PS.366.1 MILLION AND
PS.202.9 MILLION FOR THE FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) DUE
TO THE INCREMENTAL REVENUE GENERATED BY THE ACQUISITION OF THE DISTRIBUTION
COMPANY IN CHILE IN THE SECOND QUARTER OF 2002, IN THE AMOUNT OF PS.183.1
MILLION FOR THE FIRST QUARTER OF 2003, AS WELL AS BY THE TRANSLATION EFFECT
ON FOREIGN-CURRENCY DENOMINATED SALES.
OPERATING RESULT DECREASED TO A LOSS OF PS.3.7 MILLION DUE TO HIGHER
OPERATING EXPENSES, REFLECTING A PROVISION FOR DOUBTFUL TRADE ACCOUNTS IN
LATIN AMERICA, PARTICULARLY IN COLOMBIA, PARTIALLY OFFSET BY HIGHER SALES.
CABLE TELEVISION
CABLE TELEVISION SALES DECREASED 17.9% (PS.240.5 MILLION AND PS.292.9
MILLION FOR THE FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) DUE TO A
SUBSTANTIAL DECREASE OF SUBSCRIBERS AS COMPARED TO THE FIRST QUARTER OF THE
PREVIOUS YEAR, DRIVEN MOSTLY BY PRICE INCREASES DERIVED FROM THE 10%
TELECOMMUNICATION TAX AND THE INCREASE IN SUBSCRIBER PIRACY RESULTING
THEREOF. THE SUBSCRIBER BASE DECREASED TO APPROXIMATELY 403,000, OF WHICH
OVER 64,000 SUBSCRIBERS HAVE DIGITAL SERVICE, AS OF THE END OF THE FIRST
QUARTER OF 2003.
OPERATING INCOME DECREASED (PS.29.2 MILLION AND PS.64.5 MILLION FOR THE
FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) DUE TO LOWER SALES AND HIGHER
DEPRECIATION AND AMORTIZATION COSTS, DRIVEN BY THE UPGRADING PROCESS IN THE
NETWORK AND THE ACQUISITION OF COMPUTER EQUIPMENT, PARTIALLY OFFSET BY
LOWER COST OF SALES AND OPERATING EXPENSES.
RADIO
RADIO SALES DECREASED 5.0% (PS.55.6 MILLION AND PS.58.5 MILLION FOR THE
FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) DUE TO A DECLINE IN
ADVERTISING TIME SOLD. HOWEVER, EBITDA AMOUNTED TO PS.1.3 MILLION (2.3%
EBITDA MARGIN), REFLECTING LAST YEAR'S RESTRUCTURING INITIATIVES.
OPERATING LOSS DECREASED TO PS.2.3 MILLION IN THE FIRST QUARTER OF 2003
FROM A LOSS OF PS.2.8 MILLION IN LAST YEAR'S COMPARABLE PERIOD. THIS
FAVORABLE VARIANCE IS ATTRIBUTABLE TO LOWER COST OF SALES AND OPERATING
EXPENSES, PARTIALLY OFFSET BY LOWER SALES.
OTHER BUSINESSES
THE DECREASE IN OTHER BUSINESSES SALES (PS.388.6 MILLION AND PS.433.0
MILLION FOR THE FIRST QUARTER OF 2003 AND 2002, RESPECTIVELY) WAS PRIMARILY
DUE TO LOWER SALES IN THE NATIONWIDE PAGING AND DISTRIBUTION OF FEATURE
FILM BUSINESSES. THESE DECREASES WERE PARTIALLY OFFSET BY HIGHER SALES IN
THE SPORTS EVENTS BUSINESS. IN THE FIRST QUARTER OF 2003 OTHER BUSINESSES
EBITDA AMOUNTED TO PS.16.4 MILLION (4.2% EBITDA MARGIN) AS COMPARED TO A
NEGATIVE PS.6.7 MILLION IN THE FIRST QUARTER OF 2002, MAINLY REFLECTING A
REDUCTION OF COST OF SALES AND OPERATING EXPENSES IN THE INTERNET PORTAL,
SPORTS EVENTS AND NATIONWIDE PAGING BUSINESSES.
OPERATING LOSS DECREASED TO PS.47.9 MILLION IN THE FIRST QUARTER OF 2003
FROM A LOSS OF PS.85.7 MILLION IN LAST YEAR'S COMPARABLE PERIOD. THIS
FAVORABLE VARIANCE WAS LED BY THE SUBSTANTIAL DECREASE IN COST OF SALES AND
OPERATING EXPENSES, PARTIALLY OFFSET BY LOWER REVENUES.
INTERSEGMENT SALES
INTERSEGMENT SALES FOR THE FIRST QUARTER OF 2003 AND 2002, AMOUNTED TO
PS.82.1 MILLION AND PS.107.5 MILLION, RESPECTIVELY.
CORPORATE EXPENSES
CORPORATE EXPENSES FOR THE FIRST QUARTER OF 2003 AND 2002, AMOUNTED TO
PS.30.5 AND PS.34.8 MILLION, RESPECTIVELY.
DISPOSED OPERATIONS
NET SALES OF DISPOSED OPERATION FOR THE FIRST QUARTER OF 2002, AMOUNTED TO
PS.68.1 MILLION.
THE OPERATING RESULT FROM DISPOSED OPERATIONS FOR THE FIRST QUARTER OF 2002
AMOUNTED TO AN OPERATING INCOME OF PS.1.2 MILLION.
SKY
INNOVA, S. DE R.L. DE C.V., IS A NON-CONSOLIDATED BUSINESS OF GRUPO
TELEVISA AND THE PAY-TV MARKET LEADER IN MEXICO. IT PROVIDES DIRECT-TO-HOME
SATELLITE TELEVISION SERVICES UNDER THE SKY BRAND NAME. FINANCIAL AND
OPERATING UNAUDITED HIGHLIGHTS OF INNOVA, OF WHICH TELEVISA OWNS 60%, NEWS
CORP. 30%, AND LIBERTY MEDIA 10%, ARE AS FOLLOWS:
o THE NUMBER OF GROSS ACTIVE SUBSCRIBERS INCREASED 11.2% TO 779,700
AS OF MARCH 31, 2003 AS COMPARED TO THE FIRST QUARTER OF THE
PREVIOUS YEAR.
o REVENUES INCREASED 2.1% DUE TO THE INCREASE IN ITS SUBSCRIBER
BASE.
o EBITDA FOR THE FIRST QUARTER OF 2003 INCREASED 20.4% TO PS.260.5
MILLION FROM PS.216.3 MILLION FOR THE SAME PERIOD OF THE PRIOR
YEAR. AS A RESULT, EBITDA MARGIN INCREASED 17.9% FROM 25.1% TO
29.6%.
o EBIT FOR THE FIRST QUARTER OF 2003 IMPROVED PS.91.3 MILLION TO A
POSITIVE PS.60.1 MILLION FROM PS.(31.2) MILLION FOR THE SAME
PERIOD OF THE PRIOR YEAR. AS A RESULT, EBIT MARGIN SUBSTANTIALLY
INCREASED FROM A NEGATIVE 3.6% TO A POSITIVE 6.8%.
o SKY DID NOT REQUIRE ADDITIONAL FUNDING FROM ITS SHAREHOLDERS
DURING THE LAST FOUR QUARTERS.
o ON MARCH 19, 2003, THE COURT ISSUED A RESOLUTION FAVORABLE TO
INNOVA THAT WOULD RECOVER FROM THE MEXICAN TAX AUTHORITIES A
PORTION OF THE TAXES IT PAID DURING THE 2001 AND 2002 FISCAL
PERIODS, AS WELL AS FOR JANUARY AND FEBRUARY 2003. RECOVERY OF
THESE TAXES WOULD SIGNIFICANTLY REDUCE INNOVA'S NEED FOR
ADDITIONAL CAPITAL CONTRIBUTIONS DURING THE YEAR.
o SKY CONTINUES TO OFFER THE HIGHEST QUALITY CONTENT IN THE MEXICAN
PAY TV INDUSTRY.
NON-OPERATING RESULTS
INTEGRAL COST OF FINANCING
THE EXPENSE ATTRIBUTABLE TO INTEGRAL COST OF FINANCING INCREASED BY PS.30.1
MILLION, OR 19.9%, TO PS.181.3 MILLION FOR THE FIRST QUARTER ENDED MARCH
31, 2003 FROM PS.151.2 MILLION FOR LAST YEAR'S COMPARABLE PERIOD. THIS
VARIANCE REFLECTS: I) A PS.212.8 MILLION INCREASE IN NET FOREIGN EXCHANGE
LOSS, PRIMARILY DUE TO THE 3.1% DEPRECIATION OF THE MEXICAN PESO AS
COMPARED TO THE U.S. DOLLAR DURING THE FIRST QUARTER ENDED MARCH 31, 2003,
VERSUS A 1.7% APPRECIATION OF THE MEXICAN PESO AS COMPARED TO THE U.S.
DOLLAR DURING THE FIRST QUARTER ENDED MARCH 31, 2002; II) A PS.47.6 MILLION
INCREASE IN INTEREST EXPENSE, PRIMARILY AS A RESULT OF A HIGHER LEVEL OF
DEBT OUTSTANDING DURING THE FIRST QUARTER OF 2003 AS COMPARED WITH LAST
YEAR'S COMPARABLE PERIOD, AND PARTIALLY OFFSET BY A NET GAIN ATTRIBUTABLE
TO INTEREST SWAP CONTRACTS OUTSTANDING IN THE FIRST QUARTER OF 2003; AND
III) A PS.12.0 MILLION INCREASE IN LOSS FROM MONETARY POSITION PRIMARILY AS
A RESULT OF A MARGINAL INCREASE IN THE COMPANY'S NET ASSET MONETARY
POSITION DURING THE FIRST QUARTER OF 2003 AS COMPARED TO THE FIRST QUARTER
OF 2002. THESE INCREASES IN THE INTEGRAL COST OF FINANCING WERE PARTIALLY
OFFSET BY: I) A PS.225.1 MILLION DECREASE IN NET FOREIGN EXCHANGE LOSS
RESULTING FROM THE HEDGE OF THE COMPANY'S U.S.$600 MILLION LONG-TERM DEBT
SECURITIES MATURING IN 2011 AND 2032 WITH THE COMPANY'S NET INVESTMENT IN
UNIVISION BEGINNING MARCH 1, 2002; AND II) A PS.17.2 MILLION INCREASE IN
INTEREST INCOME, PRIMARILY AS A RESULT OF A HIGHER AVERAGE AMOUNT OF
TEMPORARY INVESTMENTS DURING THE FIRST QUARTER OF 2003 AS COMPARED WITH THE
FIRST QUARTER OF 2002.
RESTRUCTURING AND NON-RECURRING CHARGES
RESTRUCTURING AND NON-RECURRING CHARGES DECREASED BY PS.50.5 MILLION, OR
49.1%, TO PS.52.4 MILLION FOR THE FIRST QUARTER OF 2003 FROM PS.102.9
MILLION FOR LAST YEAR'S COMPARABLE PERIOD. THIS DECREASE PRIMARILY REFLECTS
THE NON-RECURRING CHARGE TAKEN IN THE FIRST QUARTER OF 2002 IN CONNECTION
WITH THE WRITE-OFF OF EXCLUSIVE RIGHTS LETTERS FOR SOCCER PLAYERS, AS WELL
AS A REDUCTION IN RESTRUCTURING CHARGES IN CONNECTION WITH WORK FORCE
LAY-OFFS IN THE FIRST QUARTER OF 2003 AS COMPARED TO THE FIRST QUARTER OF
2002.
OTHER EXPENSE-NET
OTHER EXPENSE-NET DECREASED BY PS.2.8 MILLION, OR 1.8%, TO PS.154.4 MILLION
FOR THE FIRST QUARTER OF 2003 FROM PS.157.2 MILLION IN LAST YEAR'S
COMPARABLE PERIOD. THIS DECREASE PRIMARILY REFLECTS A REDUCTION IN
DISPOSITION OF ASSETS, A REDUCTION IN THE PROVISION FOR DOUBTFUL NON-TRADE
ACCOUNTS, AND A REDUCTION IN THE AMORTIZATION OF EXPENSES RELATED TO DTH
SERVICES. THESE REDUCTIONS WERE PARTIALLY OFFSET BY AN INCREASE IN THE
AMORTIZATION OF GOODWILL, PRIMARILY GOODWILL RECOGNIZED IN CONNECTION WITH
THE COMPANY'S EQUITY INVESTMENT IN SHARES OF UNIVISION COMMON STOCK IN
FEBRUARY AND APRIL 2002, AND THE ACQUISITION OF THE 40% OF THE SHARES
OUTSTANDING OF OCESA ENTRETENIMIENTO IN OCTOBER 2002.
INCOME TAXES
INCOME TAX, ASSETS TAX AND EMPLOYEES' PROFIT SHARING INCREASED BY PS.64.1
MILLION TO PS.184.8 MILLION FOR THE FIRST QUARTER OF 2003 FROM A TAX
PROVISION OF PS.120.7 MILLION FOR THE FIRST QUARTER OF 2002. THIS INCREASE
PRIMARILY REFLECTS A HIGHER INCOME BEFORE TAXES FOR THE FIRST QUARTER OF
2003 AS COMPARED TO THE FIRST QUARTER OF 2002.
EQUITY IN RESULTS OF AFFILIATES
EQUITY IN RESULTS OF AFFILIATES INCREASED BY PS.20.4 MILLION, OR 19.9%, TO
A LOSS OF PS.123.1 MILLION FOR THE FIRST QUARTER OF 2003 FROM A LOSS OF
PS.102.7 MILLION IN LAST YEAR'S COMPARABLE PERIOD. THIS INCREASE PRIMARILY
REFLECTS THE COMPANY'S CAPITAL CONTRIBUTIONS IN SKY MULTI-COUNTRY PARTNERS
("SMCP," THE COMPANY'S DTH JOINT VENTURE WITH OPERATIONS IN COLOMBIA AND
CHILE) FOR THE AMOUNT OF APPROXIMATELY U.S.$5.0 MILLION IN THE FIRST
QUARTER OF 2003, AS WELL AS THE INCREASE IN THE AMOUNT OF THE U.S. DOLLAR
LONG-TERM NOTES AND INTEREST RECEIVABLE FROM INNOVA (THE COMPANY'S DTH
JOINT VENTURE IN MEXICO), AS A RESULT OF BOTH THE 3.1% DEPRECIATION OF THE
MEXICAN PESO AS COMPARED TO THE U.S. DOLLAR IN THE FIRST QUARTER OF 2003
AND THE RELATED INTEREST GENERATED IN THE FIRST QUARTER OF 2003. THE
COMPANY'S NET INVESTMENTS IN INNOVA AND SMCP ARE REPRESENTED BY EQUITY
LOSSES RECOGNIZED IN EXCESS OF CAPITAL CONTRIBUTIONS MADE AND LONG-TERM
LOANS PROVIDED BY THE COMPANY BUT NOT IN EXCESS OF THE LIABILITIES OF THESE
DTH JOINT VENTURES BEING GUARANTEED BY THE COMPANY. AS OF MARCH 31, 2003,
THE COMPANY'S GUARANTEED LIABILITIES OF INNOVA AND SMCP AMOUNTED TO
PS.871.9 MILLION AND PS. 808.4 MILLION, RESPECTIVELY.
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 AND NATIONWIDE PAGING BUSINESSES.
MINORITY INTEREST DECREASED BY PS.31.1 MILLION TO A CREDIT OF PS.19.2
MILLION FOR THE FIRST QUARTER ENDED MARCH 31, 2003 FROM A CHARGE OF PS.11.9
MILLION FOR THE FIRST QUARTER ENDED MARCH 31, 2002. THIS DECREASE PRIMARILY
REFLECTS A DECREASE IN THE NET INCOME OF THE COMPANY'S CABLE TELEVISION
SEGMENT FOR THE FIRST QUARTER OF 2003, AS COMPARED TO THE FIRST QUARTER OF
2002.
OTHER RELEVANT INFORMATION
CAPITAL EXPENDITURES, ACQUISITIONS AND INVESTMENTS
IN THE FIRST QUARTER OF 2003, THE COMPANY INVESTED APPROXIMATELY U.S.$14.4
MILLION IN PROPERTY, PLANT AND EQUIPMENT AS CAPITAL EXPENDITURES, OF WHICH
APPROXIMATELY U.S.$2.4 MILLION IS RELATED TO CABLEVISION. ADDITIONALLY, THE
COMPANY INVESTED APPROXIMATELY U.S.$5.0 MILLION IN ITS MULTI-COUNTRY DTH
VENTURE IN SOUTH AMERICA, AND APPROXIMATELY U.S.$38 MILLION FOR THE
REMAINING BALANCE OF THE ACQUISITION OF OCESA ENTRETENIMIENTO, THE LIVE
ENTERTAINMENT COMPANY IN WHICH THE COMPANY HOLDS A 40% STAKE. INNOVA DID
NOT REQUIRE FUNDING FROM GRUPO TELEVISA OR ANY OF ITS OTHER SHAREHOLDERS.
RELATED PARTY TRANSACTION
THE BOARD OF DIRECTORS APPROVED A RELATED PARTY TRANSACTION, WHICH INVOLVES
THE ACQUISITION BY TELEVISA OF A COMPANY WHICH, UPON THE CONSUMMATION OF
SUCH ACQUISITION, WILL HAVE NO LIABILITIES AND ITS ASSETS WILL CONSIST
BASICALLY OF 1,603,901 CPOS AND NET OPERATING LOSSES OF APPROXIMATELY
PS.6,457 MILLION, WHICH IS THE EQUIVALENT OF U.S.$619 MILLION. THE TOTAL
CONSIDERATION PAID FOR SUCH COMPANY WILL BE APPROXIMATELY U.S.$83 MILLION.
THE TERMS OF THIS ACQUISITION HAVE BEEN APPROVED BY TELEVISA'S AUDIT
COMMITTEE. THE COMPLETION OF THIS PURCHASE IS SUBJECT TO A NUMBER OF
CONDITIONS. THIS ACQUISITION WILL STRENGTHEN THE COMPANY'S CASH FLOW
GENERATION IN THE FOLLOWING YEARS.
DEBT
AS OF MARCH 31, 2003, THE COMPANY'S LONG-TERM DEBT AMOUNTED TO PS.13,625.0
MILLION, AND ITS SHORT-TERM DEBT WAS PS.1,280.7 MILLION, AS COMPARED TO
PS.13,574.1 MILLION AND PS.344.4 MILLION, RESPECTIVELY, AS OF MARCH 31,
2002.
SHARE BUYBACK PROGRAM
AS OF APRIL 29, 2003, THE COMPANY HAD REPURCHASED APPROXIMATELY 33.1
MILLION SHARES IN THE FORM OF 11.0 MILLION CPOS FOR APPROXIMATELY PS.147.3
MILLION, UNDER ITS SHARE REPURCHASE PROGRAM.
TELEVISION RATINGS AND AUDIENCE SHARE
NATIONAL URBAN RATINGS AND AUDIENCE SHARE REPORTED BY IBOPE CONFIRM THAT IN
THE FIRST QUARTER OF 2003, TELEVISA CONTINUE TO DELIVER STRONG RATINGS AND
AUDIENCE SHARE. DURING WEEKDAY PRIME TIME (19:00 TO 23:00 - MONDAY TO
FRIDAY), AUDIENCE SHARE AMOUNTED TO 72.8%; IN PRIME TIME (16:00 TO 23:00 -
MONDAY TO SUNDAY), AUDIENCE SHARE AMOUNTED TO 70.5%; AND IN SIGN-ON TO
SIGN-OFF (6:00 TO 24:00 - MONDAY TO SUNDAY), AUDIENCE SHARE AMOUNTED TO
71.7%.
ADDITIONALLY, DURING THE FIRST QUARTER OF 2003, 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: "LAS
VIAS DEL AMOR," "NINA, AMADA MIA," "CLASE 406" AND "ASI SON ELLAS."
OUTLOOK FOR 2003
CONSIDERING OUR FIRST QUARTER RESULTS AND THE POLITICAL ADVERTISING THAT WE
EXPECT TO RECEIVE DURING THE SECOND QUARTER, THE COMPANY CONTINUES TO
BELIEVE IT IS ON TRACK TO DELIVER FOR THE FULL YEAR 2003: I) LOW SINGLE
DIGIT REVENUE GROWTH AND EBITDA MARGIN AT 40% IN THE TELEVISION
BROADCASTING SEGMENT; AND II) CONSOLIDATED EBITDA MARGIN AT 30%.
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 FROM 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: 1 YEAR: 2003
GRUPO TELEVISA, S.A.
FINANCIAL STATEMENT NOTES (1)
ANNEX 2 PAGE 1
CONSOLIDATED
FINAL PRINTING
-------------------------------------------------------------------------------
GRUPO TELEVISA, S.A.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED MARCH 31, 2003 AND 2002
(IN THOUSANDS OF MEXICAN PESOS IN PURCHASING POWER AS
OF MARCH 31, 2003, 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 MARCH 31, 2003 AND 2002, AND FOR THE THREE MONTHS 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, 2002 AND 2001, WHICH INCLUDE, AMONG OTHER
DISCLOSURES, THE GROUP'S MOST SIGNIFICANT ACCOUNTING POLICIES, WHICH HAVE
BEEN APPLIED ON A CONSISTENT BASIS FOR THE THREE-MONTH PERIOD ENDED MARCH
31, 2003.
2. PROPERTY, PLANT AND EQUIPMENT:
PROPERTY, PLANT AND EQUIPMENT AS OF MARCH 31, CONSISTED OF:
2003 2002
----------------- ----------------
BUILDINGS Ps. 6,612,001 Ps. 6,589,468
BUILDINGS IMPROVEMENTS 1,636,356 1,557,795
TECHNICAL EQUIPMENT 9,986,162 8,886,977
FURNITURE AND FIXTURES 533,487 518,221
TRANSPORTATION EQUIPMENT 977,775 443,992
COMPUTER EQUIPMENT 797,369 672,990
----------------- ----------------
20,543,150 18,669,443
ACCUMULATED DEPRECIATION (9,671,781) (8,205,647)
----------------- ----------------
10,871,369 10,463,796
LAND 3,501,950 3,513,706
CONSTRUCTION IN PROGRESS 1,097,416 796,405
----------------- ----------------
Ps. 15,470,735 Ps. 14,773,907
================= ================
DEPRECIATION CHARGED TO INCOME FOR THE THREE MONTHS ENDED MARCH 31,
2003 AND 2002, WAS PS.293,460 AND PS.258,756, RESPECTIVELY.
3. LONG-TERM DEBT SECURITIES:
AS OF MARCH 31, THE COMPANY'S LONG-TERM DEBT SECURITIES OUTSTANDING
WERE AS FOLLOWS:
2003 2002
----------------------------- ------------------------------
U.S. DOLLAR U.S. DOLLAR
PRINCIPAL PRINCIPAL
AMOUNTS MEXICAN AMOUNTS MEXICAN
(THOUSANDS) PESOS (THOUSANDS) PESOS
----------- -------------- ----------- --------------
11.375% SERIES "A" SENIOR
NOTES DUE 2003 (A) $ 68,847 Ps. 742,997 $ 68,847 Ps. 656,042
11.875% SERIES "B" SENIOR
NOTES DUE 2006 (A) 5,343 57,662 5,343 50,914
8.625% SENIOR NOTES DUE 2005 (B) 200,000 2,158,400 200,000 1,905,796
8.000% SENIOR NOTES DUE 2011 (C) 300,000 3,237,600 300,000 2,858,694
8.500% SENIOR NOTES DUE 2032 (D) 300,000 3,237,600 300,000 2,858,694
---------- -------------- --------- --------------
$ 874,190 9,434,259 $ 874,190 8,330,140
========== ===========
UDI-DENOMINATED NOTES DUE 2007(E) 3,543,552 3,542,607
-------------- --------------
Ps. 12,977,811 Ps. 11,872,747
============== ==============
(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 SEMI-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) 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) NOTES DENOMINATED IN MEXICAN INVESTMENT UNITS ("UNIDADES DE INVERSION"
OR "UDIS") FOR A NOMINAL AMOUNT OF PS.3,000,000, 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 MARCH 31, 2003 AND 2002 INCLUDES RESTATEMENT OF PS.543,552 AND
PS.373,323, RESPECTIVELY. THE UDI VALUE AS OF MARCH 31, 2003, WAS OF
PS. 3.262916 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
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 2002, ANY FOREIGN EXCHANGE GAIN OR LOSS ATTRIBUTABLE TO
THIS U.S. DOLLAR LONG-TERM DEBT, BEING HEDGED BY THE GROUP'S NET INVESTMENT
IN UNIVISION, IS CREDITED OR CHARGED DIRECTLY TO EQUITY (OTHER
COMPREHENSIVE INCOME OR LOSS) (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.
IN CONJUNCTION WITH THE GROUP'S DISPOSAL OF ITS FORMER MUSIC RECORDING
BUSINESS, THE GROUP MAY HAVE TO PAY CERTAIN ADJUSTMENTS TO UNIVISION IN
CONNECTION WITH AN AUDIT OF THE MUSIC RECORDING BUSINESS BY UNIVISION,
WHICH IS EXPECTED TO BE RESOLVED BY THE PARTIES IN 2003. WHILE THE GROUP'S
MANAGEMENT BELIEVES THAT THE OUTCOME OF THIS AUDIT WILL NOT HAVE A MATERIAL
ADVERSE EFFECT ON ITS FINANCIAL POSITION OR FUTURE OPERATING RESULTS, NO
ASSSURANCE CAN BE GIVEN IN THIS REGARD.
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 MARCH 31, IS ANALYZED AS
FOLLOWS:
2003 2002
------------------------------- -------------------------------
NOMINAL RESTATED NOMINAL RESTATED
PESOS PESOS PESOS PESOS
-------------- -------------- -------------- --------------
CAPITAL STOCK Ps. 1,506,426 Ps. 7,437,918 Ps. 1,513,427 Ps. 7,472,531
-------------- --------------
ADDITIONAL PAID-IN CAPITAL 187,824 219,312 187,428 218,904
-------------- --------------
LEGAL RESERVE 585,029 1,199,658 517,746 1,127,601
-------------- --------------
RESERVE FOR REPURCHASE OF SHARES 2,576,589 5,470,434 2,695,761 5,589,606
-------------- --------------
UNAPPROPIATED EARNINGS 6,899,541 11,794,451 6,161,705 10,652,268
-------------- --------------
ACCUMULATED EFFECT OF DEFERRED
INCOME TAXES
(2,197,681) (2,677,389) (2,197,681) (2,677,389)
-------------- --------------
NET INCOME FOR PERIOD -- 250,079 66,388 70,134
-------------- --------------
DEFICIT FROM RESTATEMENT -- --
(3,052,396) (3,451,735)
-------------- -------------- -------------- --------------
TOTAL MAJORITY STOCKHOLDERS' EQUITY Ps. 20,642,067 Ps. 19,001,920
============== ==============
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.415 BY ISSUING
ADDITIONAL 43,117 SERIES "A" SHARES (NOT IN THE FORM OF CPOS), OF WHICH
PS.408 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 MARCH 31, 2003 AND 2002, CAPITAL STOCK IS NET OF SHARES
REPURCHASED OF PS.538,115 (NOMINAL PS.77,704) AND PS.503,476 (NOMINAL
PS.70,703), RESPECTIVELY.
AT MARCH 31, 2003, THE COMPANY'S NUMBER OF SHARES OF CAPITAL STOCK
AUTHORIZED, ISSUED, REPURCHASED AND OUTSTANDING CONSISTED OF:
SHARES AUTHORIZED ISSUED REPURCHASED (*) OUTSTANDING
----------------------------------- --------------- ----------------- ---------------
SERIES "A" 5,021,050,671 4,590,743,117 121,977,493 4,468,765,624
SERIES "L" 2,271,150,000 2,271,150,000 97,886,475 2,173,263,525
SERIES "D" 2,271,150,000 2,271,150,000 97,886,475 2,173,263,525
---------------- --------------- ----------------- ---------------
9,563,350,671 9,133,043,117 317,750,443 8,815,292,674
================ =============== ================= ===============
(*) 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
BENEFITIALLY OWNED BY ONE OF THE COMPANY'S WHOLLY-OWNED SUBSIDIARIES.
6. REPURCHASE OF SHARES:
AS OF MARCH 31, 2003, THE COMPANY'S STOCKHOLDERS HAD APPROVED
APPROPRIATING FROM RETAINED EARNINGS A RESERVE AMOUNTING TO PS.6,447,273,
FOR THE REPURCHASE OF SHARES AT THE DISCRETION OF MANAGEMENT. THE RESERVE
FOR REPURCHASE OF SHARES WAS USED IN 1999, 2000 AND THE THREE MONTHS ENDED
MARCH 31, 2003 IN CONNECTION WITH REPURCHASES OF SHARES IN THOSE PERIODS.
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 THE THREE MONTHS ENDED MARCH 31, 2003, THE COMPANY REPURCHASED
SHARES FOR THE AMOUNT OF PS.147,131, OF WHICH PS.119,172 WERE CHARGED TO
THE RESERVE FOR REPURCHASED SHARES.
THE 317,750,443 SHARES REPURCHASED AND HELD BY THE COMPANY AS OF MARCH
31, 2003, ARE REFLECTED AS A CHARGE TO THE STOCKHOLDERS' EQUITY, AS
FOLLOWS:
SHARES
REPURCHASED
SHARES BY A SHARES
REPURCHASED COMPANY'S REPURCHASED
STOCKHOLDERS' EQUITY BY THE COMPANY SUBSIDIARY BY THE GROUP
------------------------------------------------------- --------------- --------------
CAPITAL STOCK Ps. 110,609 Ps. 165,705 Ps. 276,314
RESERVE FOR REPURCHASE OF SHARES 976,865 -- 976,865
UNAPPROPIATED EARNINGS -- 1,916,115 1,916,115
--------------- --------------- --------------
TOTAL Ps. 1,087,474 Ps. 2,081,820 Ps. 3,169,294
=============== =============== ==============
IN SEPTEMBER 2002, THE COMPANY ANNOUNCED A SHARE REPURCHASE PROGRAM OF
UP TO U.S.$400 MILLION (PS.4,316,800) OVER THE NEXT THREE YEARS. THE
COMPANY STARTED REPURCHASING SHARES IN 2003, AND AS OF APRIL 1, 2003,
33,129,300 SHARES IN THE FORM OF 11,043,100 CPOS HAD BEEN REPURCHASED BY
THE COMPANY UNDER THIS PROGRAM FOR AN AGGREGATED AMOUNT OF PS.147,255.
7. INTEGRAL COST OF FINANCING:
INTEGRAL COST OF FINANCING FOR THE THREE MONTHS ENDED MARCH 31,
CONSISTED OF:
2003 2002
------------ ------------
INTEREST EXPENSE (1) Ps. 348,278 Ps. 300,706
INTEREST INCOME (166,289) (149,105)
FOREIGN EXCHANGE GAIN, NET (2) (91,334) (78,984)
LOSS FROM MONETARY POSITION (3) 90,636 78,620
------------ ------------
Ps. 181,291 Ps. 151,237
============ ============
(1) INCLUDES RESTATEMENT OF UDIS OF PS.40,497 AND PS.37,501 IN 2003 AND
2002, RESPECTIVELY.
(2) NET OF THE GAIN OF PS.199,380 IN 2003 AND THE LOSS OF PS.25,706 IN 2002
RESULTING FROM THE FOREIGN EXCHANGE RESULT ATTRIBUTABLE TO CERTAIN
LONG-TERM DEBT SECURITIES WHICH ARE HEDGED BY THE GROUP'S NET
INVESTMENT IN UNIVISION.
(3) THE GAIN OR LOSS FROM MONETARY POSITION REPRESENTS THE EFFECTS OF
INFLATION, AS MEASURED BY THE NPCI IN THE CASE OF MEXICAN COMPANIES, OR
THE GENERAL INFLATION INDEX OF EACH COUNTRY IN THE CASE OF FOREIGN
SUBSIDIARIES, ON THE MONETARY ASSETS AND LIABILITIES AT THE BEGINNING
OF EACH MONTH. INCLUDES MONETARY LOSS IN 2003 AND 2002 OF PS.53,292 AND
PS.47,876, RESPECTIVELY, ARISING FROM TEMPORARY DEFFERENCES OF
NON-MONETARY ITEMS IN CALCULATING DEFERRED INCOME TAX.
8. DEFERRED TAXES:
THE DEFERRED INCOME TAX LIABILITY AS OF MARCH 31, WAS DERIVED FROM:
2003 2002
-------------- --------------
ASSETS:
ACCRUED LIABILITIES Ps. 631,842 Ps. 500,701
GOODWILL 852,350 260,903
TAX LOSS CARRYFORWARDS 285,773 606,371
ALLOWANCE FOR DOUBTFUL ACCOUNTS 298,420 67,643
CUSTOMER ADVANCES 1,250,036 577,126
OTHER ITEMS - 416
-------------- --------------
3,318,421 2,013,160
-------------- --------------
LIABILITIES:
INVENTORIES (1,703,454) (1,909,552)
PROPERTY, PLANT AND EQUIPMENT - NET (1,149,904) (966,617)
OTHER ITEMS (455,221) (122,052)
INNOVA (1,317,797) (1,095,825)
-------------- --------------
(4,626,376) (4,094,046)
-------------- --------------
DEFERRED-INCOME TAXES OF MEXICAN COMPANIES (1,307,955) (2,080,886)
DEFERRED TAX OF FOREIGN SUBSIDIARIES (356,272) 105,093
ASSETS TAX 1,545,106 1,388,254
VALUATION ALLOWANCE (1,977,713) (1,090,723)
-------------- --------------
DEFERRED INCOME TAX LIABILITY (2,096,834) (1,678,262)
DEFERRED TAX ASSETS OF DISCONTINUED OPERATIONS - 29,628
EFFECT ON CHANGE OF INCOME TAX RATES 268,978 -
-------------- --------------
DEFERRED TAX LIABILITY OF CONTINUING OPERATIONS Ps. (1,827,856) Ps. (1,707,890)
============== ==============
9. EXTRAORDINARY ITEMS:
NO EXTRAORDINARY ITEMS, AS DEFINED BY MEXICAN GAAP BULLETIN A-7
"COMPARABILITY", WERE RECOGNIZED IN INCOME FOR THE THREE MONTHS ENDED MARCH
31, 2003 AND 2002.
10. DISCONTINUED OPERATIONS:
IN DECEMBER 2001, IN CONNECTION WITH A SERIES OF TRANSACTIONS THE
GROUP REACHED AN AGREEMENT WITH UNIVISION TO SELL ITS MUSIC RECORDING
BUSINESS IN THE UNITED STATES AND LATIN AMERICA, WHICH SALE WAS CONSUMMATED
IN APRIL 2002. ACCORDINGLY, THE RESULTS OF OPERATIONS OF THE MUSIC
RECORDING BUSINESS ARE REPORTED AS DISCONTINUED OPERATIONS FOR 2002.
DISCONTINUED OPERATIONS OF THE MUSIC RECORDING SEGMENT FOR THE THREE
MONTHS ENDED MARCH 31, 2002, ARE PRESENTED AS FOLLOWS:
2002
-------------
LOSS FROM MUSIC RECORDING OPERATIONS FOR THE THREE MONTHS
ENDED MARCH 31, 2002 Ps. 2,172
LOSS ON DISPOSAL OF MUSIC RECORDING OPERATIONS, NET OF
INCOME TAXES OF Ps.30,176. 56,041
-------------
Ps. 58,213
=============
SUMMARIZED INFORMATION ON RESULTS OF THE DISCONTINUED MUSIC RECORDING
OPERATIONS FOR THE PERIOD FROM JANUARY 1, THROUGH MARCH 31, 2002, IS AS
FOLLOWS:
2002
--------------
NET SALES Ps. 191,423
COST OF SALES 133,725
OPERATING EXPENSES 36,581
DEPRECIATION AND AMORTIZATION 789
OPERATING INCOME 20,328
INCOME BEFORE INCOME TAX 8,610
INCOME TAXES 10,782
NET LOSS FROM DISCONTINUED OPERATIONS (2,172)
11. CUMULATIVE EFFECT OF ACCOUNTING CHANGES:
NO CUMULATIVE EFFECT OF ACCOUNTING CHANGE WAS RECOGNIZED IN INCOME FOR
THE THREE MONTHS ENDED MARCH 31, 2003 AND 2002.
12. QUARTERLY NET RESULTS (HISTORICAL AND RESTATED):
THE QUARTERLY NET RESULTS FOR THE FOUR QUARTERS ENDED MARCH 31, 2003,
ARE AS FOLLOWS:
INDEX AT
END
QUARTER ACCUMULATED QUARTER OF PERIOD ACCUMULATED QUARTER
----------------- ------------- ------------- -------------- --------------- ---------------
2(degree)/ 02 Ps. 1,253,533 Ps. 1,186,321 99.917 Ps. 1,308,032 Ps. 1,237,897
3(degree)/ 02 1,647,761 378,258 101.190 1,697,767 389,737
4(degree)/ 02 737,836 (937,835) 102.904 747,566 (950,202)
1(degree)/ 03 250,079 250,079 104.261 250,079 250,079
(1) AS REPORTED IN EACH QUARTER.
----------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENT
AT MARCH 31 OF 2003 AND 2002
(Thousands of Pesos)
FINAL PRINTING
-------------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
-----------------------------------------
S AMOUNT % AMOUNT %
-------------------------------------------------------------------------------------------
1 TOTAL ASSETS 55,911,285 100 50,229,915 100
2 CURRENT ASSETS 22,439,781 40 20,265,408 40
3 ACCOUNTS AND DOCUMENTS RECEIVABLE (NET) 10,248,529 18 7,652,316 15
4 OTHER ACCOUNTS AND DOCUMENTS RECEIVABLE 6,435,552 12 5,773,982 11
5 OTHER ACCOUNTS AND NOTES RECEIVABLE (NET) 1,208,504 2 1,436,644 3
6 INVENTORIES 4,027,589 7 3,745,170 7
7 OTHER CURRENT ASSETS 519,607 1 1,657,296 3
8 LONG-TERM 3,229,607 6 2,350,410 5
9 ACCOUNTS AND DOCUMENTS RECEIVABLE (NET) 5,894 0 6,455 0
10 INVESTMENT IN SHARES OF SUBSIDIARIES
AND NON-CONSOLIDATED 3,056,681 5 1,508,543 3
11 OTHER INVESTMENTS 167,032 0 835,412 2
12 PROPERTY, PLANT AND EQUIPMENT 15,470,735 28 14,773,907 29
13 PROPERTY 11,750,307 21 11,660,969 23
14 MACHINERY AND INDUSTRIAL 9,986,162 18 8,886,977 18
15 OTHER EQUIPMENT 2,308,631 4 1,635,203 3
16 ACCUMULATED DEPRECIATION 9,671,781 17 8,205,647 16
17 CONSTRUCTION IN PROGRESS 1,097,416 2 796,405 2
18 DEFERRED ASSETS (NET) 9,416,542 17 7,550,642 15
19 OTHER ASSETS 5,354,620 10 5,289,548 11
20 TOTAL LIABILITIES 34,144,507 100 30,188,320 100
21 CURRENT LIABILITIES 5,286,097 15 3,814,531 13
22 SUPPLIERS 2,045,077 6 2,020,659 7
23 BANK LOANS 520,683 2 331,509 1
24 STOCK MARKET LOANS 742,997 2 0 0
25 TAXES TO BE PAID 750,992 2 213,992 1
26 OTHER CURRENT LIABILITIES 1,226,348 4 1,248,371 4
27 LONG-TERM LIABILITIES 14,455,734 42 14,181,955 47
28 BANK LOANS 1,390,161 4 1,694,975 6
29 STOCK MARKET LOANS 12,234,814 36 11,872,747 39
30 OTHER LOANS 830,759 2 614,233 2
31 DEFERRED LOANS 12,630,333 37 11,113,092 37
32 OTHER LIABILITIES 1,772,343 5 1,078,742 4
33 CONSOLIDATED STOCK HOLDERS' EQUITY 21,766,778 100 20,041,595 100
34 MINORITY INTEREST 1,124,711 5 1,039,675 5
35 MAJORITY INTEREST 20,642,067 95 19,001,920 95
36 CONTRIBUTED CAPITAL 7,657,230 35 7,691,435 38
37 PAID-IN CAPITAL STOCK (NOMINAL) 1,506,426 7 1,513,427 8
38 RESTATEMENT OF PAID-IN CAPITAL STOCK 5,931,492 27 5,959,104 30
39 PREMIUM ON SALES OF SHARES 219,312 1 218,904 1
40 CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES 0 0 0 0
41 CAPITAL INCREASE (DECREASE) 12,984,837 60 11,310,485 56
42 RETAINED EARNINGS AND CAPITAL RESERVE 12,994,109 60 11,779,869 59
43 REPURCHASE FUNDS OF SHARES 5,470,434 25 5,589,606 28
44 EXCESS (SHORTFALL) IN RESTATEMENT OF STOCK
HOLDERS' EQUITY (5,729,785) (26) (6,129,124) (31)
45 NET INCOME FOR THE YEAR 250,079 1 70,134 0
-------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
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 10,248,529 100 7,652,316 100
46 CASH 193,898 2 969,771 13
47 SHORT-TERM INVESTMENTS 10,054,631 98 6,682,545 87
18 DEFERRED ASSETS (NET) 9,416,542 100 7,550,642 100
48 AMORTIZED OR REDEEMED EXPENSES 1,738,611 18 2,046,134 27
49 GOODWILL 7,677,931 82 5,504,508 73
50 DEFERRED TAXES 0 0 0 0
51 OTHERS 0 0 0 0
21 CURRENT LIABILITIES 5,286,097 100 3,814,531 100
52 FOREIGN CURRENCY LIABILITIES 3,060,633 58 2,111,722 55
53 MEXICAN PESOS LIABILITIES 2,225,464 42 1,702,809 45
24 STOCK MARKET LOANS 742,997 100 0 100
54 COMMERCIAL PAPER 742,997 100 0 0
55 CURRENT MATURITIES OF MEDIUM TERM NOTES 0 0 0 0
56 CURRENT MATURITIES OF BONDS 0 0 0 0
26 OTHER CURRENT LIABILITIES 1,226,348 100 1,248,371 100
57 OTHER CURRENT LIABILITIES WITH COST 16,992 1 12,889 1
58 OTHER CURRENT LIABILITIES WITHOUT COST 1,209,356 99 1,235,482 99
27 LONG-TERM LIABILITIES 14,455,734 100 14,181,955 100
59 FOREIGN CURRENCY LIABILITIES 10,547,464 73 10,049,720 71
60 MEXICAN PESOS LIABILITIES 3,908,270 27 4,132,235 29
29 STOCK MARKET LOANS 12,234,814 100 11,872,747 100
61 BONDS 12,234,814 100 11,872,747 100
62 MEDIUM TERM NOTES 0 0 0 0
30 OTHER LOANS 830,759 100 614,233 100
63 OTHER LOANS WITH COST 0 0 6,418 1
64 OTHER LOANS WITHOUT COST 830,759 100 607,815 99
31 DEFERRED LOANS 12,630,333 100 11,113,092 100
65 NEGATIVE GOODWILL 0 0 0 0
66 DEFERRED TAXES 1,827,856 14 1,707,890 15
67 OTHERS 10,802,477 86 9,405,202 85
32 OTHER LIABILITIES 1,772,343 100 1,078,742 100
68 RESERVES 92,007 5 33,787 3
69 OTHERS LIABILITIES 1,680,336 95 1,044,955 97
44 EXCESS (SHORTFALL) IN RESTATEMENT OF STOCK (5,729,785) 100 (6,129,824) 100
HOLDERS' EQUITY
70 ACCUMULATED INCOME DUE TO MONETARY POSITION (29,217) (1) (29,917) 0
71 INCOME FROM NON-MONETARY POSITION ASSETS (5,700,568) (99) (6,099,907) (100)
*******************************************************************************
*******************************************************************************
*******************************************************************************
*******************************************************************************
*******************************************************************************
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
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 17,153,684 16,450,877
73 PENSIONS FUND AND SENIORITY PREMIUMS 692,029 794,613
74 EXECUTIVES (*) 36 61
75 EMPLOYERS (*) 12,433 13,187
76 WORKERS (*) 0 0
77 CIRCULATION SHARES (*) 8,815,292,674 8,856,259,557
78 REPURCHASED SHARES (*) 317,750,443 586,692,768
-------------------------------------------------------------------------------
(*) THESE CONCEPTS SHOULD BE EXPRESSED IN UNITS.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
GRUPO TELEVISA, S.A.
CONSOLIDATED EARNING STATEMENT
FROM JANUARY THE 1st TO MARCH 31 OF 2003 AND 2002
(Thousands of Pesos)
FINAL PRINTING
-----------------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
------------------------------------------
R AMOUNT % AMOUNT %
-----------------------------------------------------------------------------------------------
1 NET SALES 4,811,805 100 4,592,730 100
2 COST OF SALES 3,066,280 64 2,988,319 65
3 GROSS INCOME 1,745,525 36 1,604,411 35
4 OPERATING 818,599 17 829,520 18
5 OPERATING INCOME 926,926 19 774,891 17
6 TOTAL FINANCING COST 181,291 4 151,237 3
7 INCOME AFTER FINANCING COST 745,635 15 623,654 14
8 OTHER FINANCIAL OPERATIONS 206,789 4 260,006 6
9 INCOME BEFORE TAXES AND WORKERS' PROFIT
SHARING 538,846 11 363,648 8
10 RESERVE FOR TAXES AND WORKERS' PROFIT
SHARING 184,879 4 120,704 3
11 NET INCOME AFTER TAXES AND WORKERS' PROFIT
SHARING 353,967 7 242,944 5
12 SHARE IN NET INCOME OF SUBSIDIARIES AND
NON-CONSOLIDATED ASSOCIATES (123,117) (3) (102,670) (2)
13 CONSOLIDATED NET INCOME OF CONTINUOUS
OPERATIONS 230,850 5 140,274 3
14 INCOME OF DISCONTINUOUS OPERATIONS 0 0 58,213 1
15 CONSOLIDATED NET INCOME BEFORE
EXTRAORDINARY ITEMS 230,850 5 82,061 2
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 0 0
18 NET CONSOLIDATED INCOME 230,850 5 82,061 2
19 NET INCOME OF MINORITY INTEREST (19,229) (0) 11,927 0
20 NET INCOME OF MAJORITY INTEREST 250,079 5 70,134 2
------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
GRUPO TELEVISA, S.A.
CONSOLIDATED EARNING STATEMENT
BREAKDOWN OF MAIN CONCEPTS
(Thousands of Pesos)
FINAL PRINTING
-----------------------------------------------------------------------------------------------------
REF QUARTER OF QUARTER OF
PRESENT PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
---------------------------------------
R AMOUNT % AMOUNT %
-----------------------------------------------------------------------------------------------------
1 NET SALES 4,811,805 100 4,592,730 100
21 DOMESTIC 3,925,825 82 3,965,748 86
22 FOREIGN 885,980 18 626,982 14
23 TRANSLATED INTO DOLLARS (***) 82,096 2 65,797 1
6 TOTAL FINANCING COST 181,291 100 151,237 100
24 INTEREST PAID 348,278 192 300,706 199
25 EXCHANGE LOSSES 230,404 127 158,385 105
26 INTEREST EARNED 166,289 92 149,105 99
27 EXCHANGE PROFITS 321,738 177 237,369 157
28 GAIN DUE TO MONETARY POSITION 90,636 50 78,620 52
8 OTHER FINANCIAL OPERATIONS 206,789 100 260,006 100
29 OTHER NET EXPENSES (INCOME) NET 206,789 100 260,006 100
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 184,879 100 120,704 100
32 INCOME TAX 444,504 240 284,715 236
33 DEFERRED INCOME TAX (261,296) (141) (171,763) (142)
34 WORKERS' PROFIT SHARING 1,671 1 7,752 6
35 DEFERRED WORKERS' PROFIT SHARING 0 0 0 0
-----------------------------------------------------------------------------------------------------
(***) THOUSANDS OF DOLLARS
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
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 5,263,611 5,066,220
37 NET INCOME OF THE YEAR 331,913 97,787
38 NET SALES (**) 22,062,646 20,985,213
39 OPERATION INCOME (**) 4,863,689 4,462,528
40 NET INCOME OF MAJORITY INTEREST (**) 927,511 1,649,486
41 NET CONSOLIDATED INCOME (**) 826,613 1,667,569
---------------------------------------------------------------------------------------------------
(**) THE RESTATED INFORMATION ON THE LAST TWELVE MONTHS SHOULD BE USED
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
GRUPO TELEVISA, S.A.
CONSOLIDATED FINANCIAL STATEMENT
FROM JANUARY THE 1st TO MARCH 31 OF 2003 AND 2002
(Thousands of Pesos)
FINAL PRINTING
---------------------------------------------------------------------------------------------------------
REF QUARTER OF PRESENT QUARTER OF PREVIOUS
CONCEPTS FINANCIAL YEAR FINANCIAL YEAR
-----------------------------------------
C Amount Amount
---------------------------------------------------------------------------------------------------------
1 CONSOLIDATED NET INCOME 230,850 82,061
2 + (-) ITEMS ADDED TO INCOME WHICH DO NOT
REQUIRE USING CASH 426,249 534,312
3 CASH FLOW FROM NET INCOME OF THE YEAR 657,099 616,373
4 CASH FLOW FROM CHANGE IN WORKING CAPITAL 1,807,872 1,562,522
5 CASH GENERATED (USED) IN OPERATING ACTIVITIES 2,464,971 2,178,895
6 CASH FLOW FROM EXTERNAL FINANCING 66,384 (362,181)
7 CASH FLOW FROM INTERNAL FINANCING (145,964)
8 CASH FLOW GENERATED (USED) BY FINANCING (79,580) (362,181)
9 CASH FLOW GENERATED (USED) IN INVESTMENT
ACTIVITIES (1,039,543) (188,567)
10 NET INCREASE (DECREASE) IN CASH AND SHORT-TERM
INVESTMENTS 1,345,848 1,628,147
11 CASH AND SHORT-TERM INVESTMENTS AT THE
BEGINNING OF PERIOD 8,902,681 6,024,169
12 CASH AND SHORT-TERM INVESTMENTS AT THE END
OF PERIOD 10,248,529 7,652,316
---------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
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 426,249 534,312
13 DEPRECIATION AND AMORTIZATION FOR THE YEAR 484,166 418,902
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 (57,917) 115,410
4 CASH FLOW FROM CHANGE IN WORKING CAPITAL 1,807,872 1,562,522
18 + (-) DECREASE (INCREASE) IN ACCOUNTING RECEIVABLE 3,187,604 3,526,794
19 + (-) DECREASE (INCREASE) IN INVENTORIES (78,707) 101,761
20 + (-) DECREASE (INCREASE) IN OTHER ACCOUNT
RECEIVABLE (13,603) (78,669)
21 + (-) INCREASE (DECREASE) IN SUPPLIER ACCOUNT (212,817) (90,383)
22 + (-) INCREASE (DECREASE) IN OTHER LIABILITIES (1,074,605) (1,896,981)
6 CASH FLOW FROM EXTERNAL FINANCING 66,384 (362,181)
23 + SHORT-TERM BANK AND STOCK MARKET FINANCING 30,858 (8,651)
24 + LONG-TERM BANK AND STOCK MARKET FINANCING 304,485 2,800,179
25 + DIVIDEND RECEIVED -
26 + OTHER FINANCING -
27 (-) BANK FINANCING AMORTIZATION (24,725) (2,769,028)
28 (-) STOCK MARKET AMORTIZATION -
29 (-) OTHER FINANCING AMORTIZATION (244,234) (384,681)
7 CASH FLOW FROM INTERNAL FINANCING (145,964) -
30 + (-) INCREASE (DECREASE) IN CAPITAL STOCKS (145,964)
31 (-) DIVIDENDS PAID
32 + PREMIUM ON SALE OF SHARES
33 + CONTRIBUTION FOR FUTURE CAPITAL INCREASES
9 CASH FLOW GENERATED (UTILIZED) IN INVESTMENT
ACTIVITIES (1,039,543) (188,567)
34 + (-) DECREASE (INCREASE) IN STOCK INVESTMENTS
OF A PERMANENT NATURE (384,930) 64,373
35 (-) ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT (157,288) (221,718)
36 (-) INCREASE IN CONSTRUCTIONS IN PROGRESS
37 + SALE OF OTHER PERMANENT INVESTMENTS
38 + SALE OF TANGIBLE FIXED ASSETS 8,813 31,622
39 + (-) OTHER ITEMS (506,138) (62,844)
---------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
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 4.80 % 1.79 %
2 NET INCOME TO STOCK HOLDERS' EQUITY (**) 4.49 % 8.68 %
3 NET INCOME TO TOTAL ASSETS (**) 1.48 % 3.32 %
4 CASH DIVIDENDS TO PREVIOUS YEAR NET INCOME 0.00 % 0.00 %
5 INCOME DUE TO MONETARY POSITION TO NET INCOME (39.26) % (95.81) %
ACTIVITY
6 NET SALES TO NET ASSETS (**) 0.39 times 0.42 times
7 NET SALES TO FIXED ASSETS (**) 1.43 times 1.42 times
8 INVENTORIES ROTATION (**) 3.39 times 3.49 times
9 ACCOUNTS RECEIVABLE IN DAYS OF SALES 105 days 98 days
10 PAID INTEREST TO TOTAL LIABILITIES WITH COST (**) 9.64 % 8.95 %
LEVERAGE
11 TOTAL LIABILITIES TO TOTAL ASSETS 61.07 % 60.10 %
12 TOTAL LIABILITIES TO STOCK HOLDERS' EQUITY 1.57 times 1.51 times
13 FOREIGN CURRENCY LIABILITIES TO TOTAL LIABILITIES 39.85 % 40.29 %
14 LONG-TERM LIABILITIES TO FIXED ASSETS 93.44 % 95.99 %
15 OPERATING INCOME TO INTEREST PAID 2.66 times 2.58 times
16 NET SALES TO TOTAL LIABILITIES (**) 0.65 times 0.70 times
LIQUIDITY
17 CURRENT ASSETS TO CURRENT LIABILITIES 4.25 times 5.31 times
18 CURRENT ASSETS LESS INVENTORY TO CURRENT
LIABILITIES 3.48 times 4.33 times
19 CURRENT ASSETS TO TOTAL LIABILITIES 0.66 times 0.67 times
20 AVAILABLE ASSETS TO CURRENT LIABILITIES 193.88 % 200.61 %
CASH FLOW
21 CASH FLOW FROM NET INCOME TO NET SALES 13.66 % 13.42 %
22 CASH FLOW FROM CHANGES IN WORKING CAPITAL
TO NET SALES 37.57 % 34.02 %
23 CASH GENERATED (USED) IN OPERATING TO
INTEREST PAID 7.08 times 7.25 times
24 EXTERNAL FINANCING TO CASH GENERATED (USED)
IN FINANCING (83.42) % 100.00 %
25 INTERNAL FINANCING TO CASH GENERATED (USED)
IN FINANCING 183.42 % 0.00 %
26 ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT
TO CASH GENERATED (USED) IN INVESTMENT
ACTIVITIES 15.13 % 117.58 %
---------------------------------------------------------------------------------------------------------
(**) IN THESE RATIOS FOR THE DATA TAKE INTO CONSIDERATION THE LAST TWELVE MONTHS.
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
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 (**) $ .10 $ .19
2 BASIC PROFIT PER PREFERENT SHARE (**) $ .11 $ .19
3 DILUTED PROFIT PER ORDINARY SHARE (**) $ .00 $ .00
4 CONTINUOUS OPERATING PROFIT PER COMUN
SHARE (**) $ (.35) $ .19
5 EFFECT OF DISCONTINUOUS OPERATING ON
CONTINUOUS OPERATING PROFIT PER SHARE (**) $ .13 $ (.01)
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 $ .00
8 CARRYING VALUE PER SHARE $ 2.34 $ 2.15
9 CASH DIVIDEND ACUMULATED PER SHARE $ .00 $ .00
10 DIVIDEND IN SHARES PER SHARE .00 shares .00 shares
11 MARKET PRICE TO CARRYING VALUE 1.93 times 3.35 times
12 MARKET PRICE TO BASIC PROFIT PER ORDINARY
SHARE (**) 43.04 times 38.72 times
13 MARKET PRICE TO BASIC PROFIT PER PREFERENT
SHARE (**) 42.72 times 38.39 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: 1 Year: 2003
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 FIRST
QUARTER OF 2003, LIABILITIES IN FOREIGN CURRENCY (TAXES PAYABLE) FOR
AN AMOUNT OF PS.51,467, WHICH CANNOT BE PRESENTED IN S 52 (FOREIGN
CURRENCY LIABILITIES) SINCE THE SYSTEM DOES 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: 1 Year: 2003
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 CUPON PORTION PORTION MEXICAN SUSCRIPTION FIXED VARIABLE
------------------------------------------------------------------------------------------------------------------------------------
A - 4,468,765,624 4,468,765,624 763,658
------------------------------------------------------------------------------------------------------------------------------------
D - 2,173,263,525 2,173,263,525 371,384
------------------------------------------------------------------------------------------------------------------------------------
L - 2,173,263,525 2,173,263,525 371,384
------------------------------------------------------------------------------------------------------------------------------------
TOTAL - 8,815,292,674 - 6,642,029,149 2,173,263,525 1,506,426 -
------------------------------------------------------------------------------------------------------------------------------------
TOTAL NUMBER OF SHARES REPRESENTING THE PAID-IN CAPITAL STOCK ON THE DATE OF SENDING THE INFORMATION
8,815,292,674
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 121,977,493 6.68035 4.19166
D 97,886,475 6.68035 4.19166
L 97,886,475 6.68035 4.19166
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA Quarter: 1 Year: 2003
GRUPO TELEVISA, S.A. CONSOLIDATED
FINAL PRINTING
THE SHARES REPRESENTING THE COMPANY'S CAPITAL STOCK CONSISTED OF:
ISSUED 9,133,043,117
REPURCHASED (317,750,443)
---------------------
OUTSTANDING 8,815,292,674
=====================
THE COMPANY'S SHARES REPURCHASED BY THE GROUP CONSISTED OF:
SHARES REPURCHASED BY GRUPO TELEVISA, S.A. 130,952,700
SHARES ACQUIRED BY TELEVISA COMERCIAL, S.A. DE C.V. 496,750,068
RESALE OF SHARES (30,000)
CANCELATION OF SHARES (309,922,325)
---------------------
317,750,443
=====================
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: 1 Year: 2003
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 MARCH OF 2003 AND 2002 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 APRIL 29, 2003
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
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
X
1 CORPORATIVO VASCO DE QUIROGA, PROMOTION AND 19,509,544 100.00 1,836,820 1,799,042
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 1,165,362
DEVELOPMENT OF
COMPANIES
3 DTH EUROPA, S.A. PROMOTION AND 465,711 79.95 264,460 (539,807)
DEVELOPMENT OF
COMPANIES
4 EDITORA FACTUM, S.A. DE C.V. PROMOTION AND 430,601,067 100.00 1,617,698 1,881,905
DEVELOPMENT OF
COMPANIES
5 EDITORIAL TELEVISA, S.A. DE C.V. PROMOTION AND 1,037,498 100.00 823,582 1,269,971
DEVELOPMENT OF
COMPANIES
6 FACTUM MAS, S.A. DE C.V. PROMOTION AND 2,710,159,002 100.00 2,024,185 (2,471,089)
DEVELOPMENT OF
COMPANIES
7 GRUPO DISTRIBUIDORAS INTERMEX, DISTRIBUTION OF BOOKS 349,470,905 100.00 822,778 745,154
S.A. DE C.V. AND MAGAZINES
8 GRUPO RADIOPOLIS, S.A. DE C.V. PROMOTION AND 418,881,301 100.00 342,274 1,714,488
DEVELOPMENT OF
COMPANIES
9 PROMO-INDUSTRIAS PROMOTION AND 515,523 100.00 102 58,683
METROPOLITANAS, S.A. DE C.V. DEVELOPMENT OF
COMPANIES
10 SISTEMA RADIOPOLIS, S.A. DE C.V. COMMERCIALIZATION OF 76,070,313 50.00 764,739 164,715
RADIO PROGRAMMING
11 TELEPARABOLAS, S.L. MAINTENANCE OF 1,500 100.00 750 775
PARABOLIC DISHES
12 TELESISTEMA MEXICANO, S.A. DE C.V. COMMERCIALIZATION OF 132,009,215 100.00 9,029,929 19,135,262
TELEVISION
13 TELEVISA ARGENTINA, S.A. COMMERCIAL OPERATION 6,920,920 100.00 115,371 41,887
OF TELEVISION
14 TELEVISA COMERCIAL, S.A. DE C.V. PROMOTION AND 1,516,182 100.00 1,516,182 6,807,171
DEVELOPMENT OF
COMPANIES
15 TELEVISION INDEPENDIENTE DE PROMOTION AND 16,997,306 99.96 1,265,724 4,871,776
MEXICO, S.A. DE C.V. DEVELOPMENT OF
COMPANIES
16 CAPITALIZED INTEGRAL COST OF 1 221,102
FINANCING, 1994
17 CAPITALIZED INTEGRAL COST OF 1 385,574
FINANCING, 1995
18 CAPITALIZED INTEGRAL COST OF 1 26,744
FINANCING, 1996
19 CAPITALIZED INTEGRAL COST OF 1 22,719
FINANCING, 1998
--------------------------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN SUBSIDIARIES 21,743,841 37,301,434
--------------------------------------------------------------------------------------------------------------------------------
ASSOCIATEDS
1 ARGOS COMUNICACION, S.A. DE C.V. OPERATION AND/OR 33,000,000 15.30 137,000 13,974
BROADCASTING OF T.V.
2 BOUNCYNET, INC. INTERNET PORTAL 4,700 44.76 158,265 25,364
3 CARDENAS FERNANDEZ Y ASOCIADOS LIVE ENTERTAINMENT IN 1 50.00 36,688 (3,658)
U.S.A.
4 DIBUJOS ANIMADOS MEXICANOS PRODUCTION OF 1,730,660 49.00 4,384 833
DIAMEX, S.A. DE C.V. ANIMATED CARTOONS
5 DTH TECHCO PARTNERS SERVICES FOR SATELLITE 1 30.00 117,900 178,562
PAY TELEVISION
6 EDITORIAL CLIO, LIBROS Y VIDEOS, PUBLISHING AND PRINTING 2,627,050 30.00 26,270 12,098
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 5,367
TELEVISION
PROGRAMMING
8 EN VIVO ESPECTACULOS, S. DE R.L. LIVE ENTERTAINMENT IN 2 100.00 25 (9,374)
DE C.V. MEXICO
9 GRUPO EUROPRODUCCIONES, S.A. PROMOTION AND 7,275 30.00 93,407 102,495
DEVELOPMENT OF
COMPANIES
10 OCESA ENTRETENIMIENTO, S.A. DE LIVE ENTERTAINMENT IN 14,100,000 40.00 1,095,581 472,316
C.V. MEXICO
11 SKY LATIN AMERICA, PARTNERS ADMINISTRATIVE SERV. 1 30.00 1,974 10,086
FOR THE DTH VENTURES
12 TELEVISORA DEL YAQUI, S.A. DE C.V. OPERATION AND/OR 4,124,986 15.00 412 5,254
BROADCASTING OF T.V.
13 UNIVISION COMMUNICATIONS, INC. BROADCASTING OF T.V. 30,187,534 13.23 5,602,976 2,243,364
SPANISH PROGRAMS
--------------------------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT IN ASSOCIATEDS 7,276,517 3,056,681
--------------------------------------------------------------------------------------------------------------------------------
OTHER PERMANENT INVESTMENTS 167,032
--------------------------------------------------------------------------------------------------------------------------------
TOTAL 40,525,147
--------------------------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
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 3,359,722 877,105 2,482,617 4,888,635 1,596,193 5,775,059
--------------------------
MACHINERY 4,395,326 2,207,783 2,187,543 5,590,836 3,809,516 3,968,863
--------------------------
TRANSPORT EQUIPMENT 691,372 171,039 520,333 286,403 189,350 617,386
--------------------------
OFFICE EQUIPMENT 235,384 97,643 137,741 298,103 183,295 252,549
--------------------------
COMPUTER EQUIPMENT 516,909 289,540 227,369 280,460 250,317 257,512
--------------------------
OTHER - -
---------------------------------------------------------------------------------------------------------------------------------
DEPRECIABLES TOTAL 9,198,713 3,643,110 5,555,603 11,344,437 6,028,671 10,871,369
---------------------------------------------------------------------------------------------------------------------------------
NOT DEPRECIATION
ASSETS
--------------------------
GROUNDS 466,278 466,278 3,035,672 3,501,950
--------------------------
CONSTRUCTIONS IN
PROCESS 1,097,416 1,097,416 1,097,416
--------------------------
OTHER - -
---------------------------------------------------------------------------------------------------------------------------------
NOT DEPRECIABLE
TOTAL 1,563,694 - 1,563,694 3,035,672 - 4,599,366
---------------------------------------------------------------------------------------------------------------------------------
TOTAL 10,762,407 3,643,110 7,119,297 14,380,109 6,028,671 15,470,735
---------------------------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA
GRUPO TELEVISA, S.A.
ANNEX 5
CREDITS BREAK DOWN
(Thousands of Pesos)
----------------------------------------------------------------------------------------------------------------------------------
Amortization of Credits in Foreign Currency
With National Entities (Thousands of $)
Denominated --------------------------------------------
In Pesos Time Interval
-------------------------------------------------------------------------
Credit Type / Institution Amortization Rate of Until 1 More Than Current Until 1 Until 2 Until 3
Date Interest Year 1 Year Year Year Year Year
----------------------------------------------------------------------------------------------------------------------------------
BANKS
-----------------------------------------------------------------------------------------------------
OTHER FINANCIAL ENTITIES
----------------------------------------------------------------------------------------------------------------------------------
SINDICADO 12/21/06 2.43
----------------------------------------------------------------------------------------------------------------------------------
J.P. MORGAN BANK 6/30/03 4.25
----------------------------------------------------------------------------------------------------------------------------------
BANAMEX, S.A. 7/24/04 10.61 152,625 76,313
----------------------------------------------------------------------------------------------------------------------------------
BANCA SERFIN, S.A. 5/15/06 10.21 64,000 144,000
----------------------------------------------------------------------------------------------------------------------------------
BANK OF AMERICA 3/31/10 3.88
----------------------------------------------------------------------------------------------------------------------------------
SUNTRUST BANK MIAMI, NATIONAL 4/1/08 1.41
----------------------------------------------------------------------------------------------------------------------------------
BNP PARIBAS 11/15/07 1.94
----------------------------------------------------------------------------------------------------------------------------------
INBURSA, S.A. 11/1/06 10.12 7,804 15,204
----------------------------------------------------------------------------------------------------------------------------------
BANCO DE BILBAO VIZCAYA, S.A. 1/30/06 5.86
----------------------------------------------------------------------------------------------------------------------------------
LEASING DE OCCIDENTE 3/19/05 13.86
----------------------------------------------------------------------------------------------------------------------------------
LEASING DEL VALLE 2/8/04 13.50
----------------------------------------------------------------------------------------------------------------------------------
LEASING DE COLOMBIA 3/21/05 14.53
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
TOTAL BANKS 224,429 235,517 - - - -
----------------------------------------------------------------------------------------------------------------------------------
STOCK EXCHANGE
-----------------------------------------------------------------------------------------------------
PRIVATE PLACEMENTS
UNSECURED DEBT
----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 5/13/03 11.96
----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 5/13/06 12.49
----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 8/8/05 9.07
----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 9/13/11 8.41
----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 3/11/32 8.94
----------------------------------------------------------------------------------------------------------------------------------
UDI DENOMINATED-NOTES 4/13/07 8.15 3,543,552
----------------------------------------------------------------------------------------------------------------------------------
TOTAL STOCK EXCHANGE - 3,543,552 - - - -
----------------------------------------------------------------------------------------------------------------------------------
SUPPLIERS
-----------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 389,983 1,301,796
----------------------------------------------------------------------------------------------------------------------------------
TOTAL SUPPLIERS 389,983 - - 1,301,796 - -
----------------------------------------------------------------------------------------------------------------------------------
OTHER CURRENT LIABILITIES
AND OTHER CREDITS
-----------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 860,060 129,201 278,277 589,211
----------------------------------------------------------------------------------------------------------------------------------
TOTAL OTHER CURRENT
LIABILITIES AND OTHER
CREDITS 860,060 129,201 - 278,277 589,211 -
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
1,474,472 3,908,270 - 1,580,073 589,211 -
----------------------------------------------------------------------------------------------------------------------------------
[TABLE CONT'D]
QUARTER: 1 YEAR: 2003
CONSOLIDATED
FINAL PRINTING
--------------------------------------------------------------------------------------
Amortization of Credits in Foreign Currency
With Foreign Entities (Thousands of $)
--------------------------------------------------------------------------------------
Time Interval
----------------------------- --------------------------------------------------------------------------------------
Credit Type / Institution Until 4 Until 5 Current Until 1 Until 2 Until 3 Until 4 Until 5
Year Year Year Year Year Year Year Year
----------------------------- --------------------------------------------------------------------------------------
BANKS --------------------------------------------------------------------------------------
OTHER FINANCIAL ENTITIES
-----------------------------------------------------------------------------------------------------------------------------------
SINDICADO 431,680 647,520
-----------------------------------------------------------------------------------------------------------------------------------
J.P. MORGAN BANK 276,941
-----------------------------------------------------------------------------------------------------------------------------------
BANAMEX, S.A.
-----------------------------------------------------------------------------------------------------------------------------------
BANCA SERFIN, S.A.
-----------------------------------------------------------------------------------------------------------------------------------
BANK OF AMERICA 405 136 540 541 541 28,727
-----------------------------------------------------------------------------------------------------------------------------------
SUNTRUST BANK MIAMI, NATIONAL 3,288 1,096 5,181 5,079 5,079 6,346
-----------------------------------------------------------------------------------------------------------------------------------
BNP PARIBAS 4,861 1,500 4,861 4,861 4,861 2,620
-----------------------------------------------------------------------------------------------------------------------------------
INBURSA, S.A.
-----------------------------------------------------------------------------------------------------------------------------------
BANCO DE BILBAO VIZCAYA, S.A. 4,657 2,535 4,139 1,339
-----------------------------------------------------------------------------------------------------------------------------------
LEASING DE OCCIDENTE 318 113 612
-----------------------------------------------------------------------------------------------------------------------------------
LEASING DEL VALLE 241 71 18
-----------------------------------------------------------------------------------------------------------------------------------
LEASING DE COLOMBIA 68 24 99
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL BANKS - - 290,779 5,475 447,130 659,340 10,481 37,693
-----------------------------------------------------------------------------------------------------------------------------------
(STOCK EXCHANGE)
PRIVATE PLACEMENTS --------------------------------------------------------------------------------------
UNSECURED DEBT
-----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 742,997
-----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 57,662
-----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 2,158,400
-----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 3,237,600
-----------------------------------------------------------------------------------------------------------------------------------
HOLDERS 3,237,600
-----------------------------------------------------------------------------------------------------------------------------------
UDI DENOMINATED-NOTES
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL STOCK EXCHANGE - - 742,997 - 2,158,400 57,662 - 6,475,200
-----------------------------------------------------------------------------------------------------------------------------------
SUPPLIERS
--------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 353,298
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL SUPPLIERS - - - 353,298 - - - -
-----------------------------------------------------------------------------------------------------------------------------------
OTHER CURRENT LIABILITIES
AND OTHER CREDITS
--------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
VARIOUS 16,992 71,019 112,347
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL OTHER CURRENT
LIABILITIES AND OTHER
CREDITS - - 16,992 71,019 112,347 - - -
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
- - 1,050,768 429,792 2,717,877 717,002 10,481 6,512,893
-----------------------------------------------------------------------------------------------------------------------------------
NOTES
THE MATURITY OF SUCH LOAN AND INTEREST PAYABLE WERE CHANGED AS RE-
FLECTED IN THIS SCHEDULE.
THE EXCHANGE RATES FOR THE CREDITS DENOMINATED IN FOREIGN CURRENCY
WERE AS FOLLOWS:
$ 10.7920 PESOS PER U.S. DOLLAR
11.7500 PESOS PER EURO
0.0036 PESOS PER COLOMBIAN PESO
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
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 71,458 771,175 25,683 277,171 1,048,346
OTHER 16,638 179,557 696 7,511 187,068
TOTAL 88,096 950,732 26,379 284,682 1,235,414
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
2. EXPENDITURE
------------------------------
IMPORT (RAW MATERIALS) 63,308 683,220 23,764 256,461 939,681
INVESTMENTS 9,520 102,740 175 1,888 104,628
OTHER 39,245 423,532 3,856 41,614 465,146
TOTAL 112,073 1,209,492 27,795 299,963 1,509,455
-----------------------------------------------------------------------------------------------------------------------------------
NET BALANCE (23,977) (258,760) (1,416) (15,281) (274,041)
-----------------------------------------------------------------------------------------------------------------------------------
FOREIGN MONETARY POSITION
------------------------------
TOTAL ASSETS 669,990 7,230,532 172,729 1,864,091 9,094,623
LIABILITIES POSITION 1,210,312 13,061,687 55,400 597,877 13,659,564
SHORT-TERM LIABILITIES POSITION 234,162 2,527,076 54,209 585,024 3,112,100
LONG-TERM LIABILITIES POSITION 976,150 10,534,611 1,191 12,853 10,547,464
-----------------------------------------------------------------------------------------------------------------------------------
NET BALANCE (540,322) (5,831,155) 117,329 1,266,214 (4,564,941)
-----------------------------------------------------------------------------------------------------------------------------------
NOTES
THE EXCHANGE RATES USED FOR TRANSLATION WERE AS FOLLOWS :
$ 10.7920 PESOS PER U.S. DOLLAR
11.7500 PESOS PER EURO
3.5153 PESOS PER ARGENTINEAN PESO
10.7920 PESOS PER PANAMANIAN BALBOA
0.0147 PESOS PER CHILEAN PESO
0.0036 PESOS PER COLOMBIAN PESO
3.0940 PESOS PER PERUVIAN NUEVO SOL
1.4500 PESOS PER FRENCH FRANC
17.2900 PESOS PER POUNDS STERLING
1.3040 PESOS PER SWEDISH CROWN
10.7920 PESOS PER ECUADORIAN SUCRE
4.9000 PESOS PER GERMAN MARK
THIS INFORMATION IS REPRESENTED ON A CONSOLIDATED BASIS AND INCLUDES,
ACCORDINGLY, INFORMATION OF FOREIGN SUBSIDIARIES.
THE ASSETS IN U.S. DOLLARS INCLUDES NON - CURRENT ASSETS OF U.S. $ 228,938
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
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 23,929,156 20,993,316 (2,935,840) 0.00 (11,867)
FEBRUARY 24,297,035 19,270,603 (5,026,432) 0.00 (13,958)
MARCH 22,536,121 21,190,078 (1,346,043) 0.00 (7,262)
APRIL - 0.00 -
MAY - 0.00 -
JUNE - 0.00 -
JULY - 0.00 -
AUGUST - 0.00 -
SEPTEMBER - 0.00 -
OCTOBER - 0.00 -
NOVEMBER - 0.00 -
DECEMBER - 0.00 -
ACTUALIZATION: - (172)
CAPITALIZATION: - -
FOREIGN CORP.: - (2,563)
OTHER - (54,814)
-------------------------------------------------------------------------------------------------------------------------
TOTAL (90,636)
-------------------------------------------------------------------------------------------------------------------------
NOTES
THE AMOUNT REFLECTED IN "OTHER" INCLUDES A GAIN FROM MONETARY
POSITION DERIVED FROM DEFERRED TAXES FOR PS. 53,292 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: 1 YEAR: 2003
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 MARCH 31, 2003, 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. APRIL 29, 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: 1 YEAR: 2003
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: 1 YEAR: 2003
GRUPO TELEVISA, S.A.
MAIN RAW MATERIALS
ANNEX 10 CONSOLIDATED
FINAL PRINTING
------------------------------------------------------------------------------------------------------------------------------------
MAIN MAIN DOM. COST
DOMESTIC SUPPLIERS FOREIGN SUPPLIERS SUBST. PRODUCTION
(%)
------------------------------------------------------------------------------------------------------------------------------------
TAPES AND VIDEO HEWLETT PACKARD,
CASSETTE FOR S.A. DE C.V. 0.22
RECORDING FUJI FILM, S.A. DE C.V. 0.02
VIDEOCASSETTE
FOR RECORDING COLOR CASSETES YES 0.60
PROGRAMS AND FILMS CIMA FILMS, S.A. DE C.V. 0.18
CINEMATOGRAFICA CALDERON, S.A. 0.15
CINEMATOGRAFICA FILMEX, S.A. DE C.V. 0.25
CINEMATOGRAFICA RODRIGUEZ, S.A. 0.39
CHURUBUSCO, S.A. 0.60
DIANA INTERNACIONAL FILMS, S.A. 3.14
DISTRIBUIDORA ROMARI, S.A. DE C.V. 0.79
GRUPO GALINDO, S.A. DE C.V. 0.23
GUIAS, S.A. DE C.V. 0.35
GUSSI, S.A. DE C.V. 2.35
NUVISION, S.A. 0.25
PELICULAS RODRIGUEZ, S.A. 0.74
PELICULAS Y VIDEOS INTERNACIONALES, S.A. 0.26
PRODUCCIONES ALFA AUDIOVISUAL S.A. DE C.V.
PRODUCCIONES 0.17
PRODUCCIONES GALUBI, S.A. 0.11
QUALITY FILMS, S.A. 0.13
SECINE, S.A. DE C.V. 0.46
UNION INTERNACIONAL S.A. DE C.V. 0.11
OTHERS 1.42
PROGRAMS AND ABC DISTRIBUTION COMPANY NO 0.52
FILMS ALFRED HABER DISTRIBUTION, INC NO 1.53
ALLIANCE INTERNATIONAL NO 0.89
ARGENTINA SONO FILMS, S.A. NO 0.18
B.R.B. INTERNACIONAL, S.A. NO 0.14
BKN TELEVISION SALES,S.A. NO 0.14
CANAL + DISTRIBUTION NO 0.15
CARSEY WERNER DISTRIBUTION,INC. NO 0.16
CBS BROADCAST INTERNATIONAL NO 1.06
CINAR FILMS, INC. NO 0.62
CLOVERWAY, INC. NO 0.44
CONSTELLATION PICTURES, INC. NO 2.37
DARGAUD MARINA NO 0.44
CORPORATION NO 0.18
DREAMWORKS NO 0.60
EVERGREEN ENTERTAINMENT CORP. NO 0.45
FIREWORKS INTERNATIONAL NO 1.46
FREMANTLE INTERNATIONAL
DISTRIBUTION, LTD. NO 0.90
HALLMARK ENTERTAINMENT
DISTRIBUTION, CO. NO 0.18
HASBRO, INC. NO 0.12
HIGHPOINT PRODUCTIONS INC. NO 0.30
INDEPENDENT INTERNATIONAL T.V.
INC. NO 3.71
LUCASFILM, LTD. NO 2.29
MGM/UA TELECOMMUNICATIONS, INC. NO 2.20
MORGAN CREEK INTERNATIONAL NO 0.61
MTV NETWORKS A DIVISION OF VIACOM
INT. NO 1.01
MULTIMEDIA GROUP OF CANADA NO 0.29
NBC INTERNATIONAL NO 0.80
NEW LATIN IMAGE CORPORATION NO 0.80
NGTV INTERNATIONAL, LTD. NO 0.35
PARAMOUNT PICTURES , CORP. NO 7.28
RCN TELEVISION, S.A. NO 0.70
REPRESENTACIONES DE TELEVISION,
S.A. NO 0.23
RYSHER ENTERTAINMENT, INC. NO 0.58
SABAN INTERNATIONAL, N.V. NO 0.14
SALSA DISTRIBUTION NO 0.97
SALSA ENTERTAINMENT NO 0.51
SESAME WORKSHOP NO 0.17
SONY CORPORATION OF AMERICA NO 9.09
SPI INTERNATIONAL, INC. NO 0.35
STUDIOCANAL IMAGE NO 0.16
SUNBOW ENTERTAINMENT NO 0.85
TELEVISION FILM DISTRIBUTION NO 0.26
TELEVIX ENTERTAINMENT NO 0.39
TEPUY INTERNATIONAL, INC. NO 1.80
TOEI ANIMATION CO., LTD NO 0.28
TOP ENTERTAINMENT PRODUCTS, INC. NO 0.25
TURNER INTERNATIONAL,INC. NO 0.25
TWENTIETH CENTURY FOX, INC. NO 7.29
UNIVERSAL STUDIOS INTERNATIONAL,
B.V. NO 12.64
VENEVISION INTERNATIONAL, LTD. NO 0.88
VENTURA FILM DISTRIBUTORS BV NO 1.39
WARNER BROS. INTERNATIONAL
TELEVISION NO 9.76
WHILAND COMPANY NO 2.07
WORLD EVENTS LLC. NO 0.20
WORDLDIVISION ENTERPRISES, INC. NO 2.70
XYSTUS, LLC. NO 0.28
OTHERS 1.56
COAXIAL CABLE RG NACIONAL DE
CONDUCTORES,
S.A. DE C.V. 31.23
PLASTIC STAPLE TV CABLE DE
COLOTLAN, S.A. C.V. 0.10
SINGLE TELEGRIP CORPODISENO DE
HERRAJES, S.A. 0.63
IDENTIFICATION
PLAQUE RIBANDI, S.A. DE C.V. 0.42
HILTI BOLT HILTI MEXICANA,
S.A. DE C.V. NO 0.23
SWITCH CABLENETWORK
MEXICO NO 0.14
SWITCH DISTRIBUIDORA Y
COMERCIALIZADORA YES 4.23
TWO OUTLET
DEVICE ACT TVC CORPORATION YES 0.53
COUCHE PAPER DISTRIBUIDORA DE
PAPEL 0.63
PRODUCTORA NAL.
DE PAPEL 0.41
COUCHE PAPER BOWATER INCOR
PORATED YES 1.06
WEB SOURCE YES 3.60
FINNIPAP YES 15.17
TEMBEC, INC. YES 7.46
BULKLEY DUNTON YES 19.62
FOREST QUEST INC YES 0.61
MYLLLIKOSKI
PAPEL YES 16.27
M REAL YES 2.00
NORKE CANADA YES 0.14
UPM KYMMENE SEAS YES 1.41
STORAENSO INTE YES 1.05
PAPER AND
IMPRESSION PRODUCTORA CO
MERCIALIZADORA Y
EDITORES DE LI
BROS, S.A. DE C.V. 8.45
OFFSET
MULTICOLOR 16.71
GRAFICAS LA
PRENSA, SA DE CV 0.28
PAPER AND EDITORIAL ANTAR
IMPRESSION TICA QUEBEC, S.A. YES 3.79
GRUPO OP GRAFICAS
S.A. YES 0.22
PRINTER COLOMBIA
NA, S.A. YES 1.31
GRUPO EDITORIAL 0.24
MOLINA, S.A. YES 0.08
ST. IVES, INC. YES 7.79
BEST LITHO YES 0.49
EDITORES, S.A. YES 0.12
RR DONELLY YES 3.01
GUAD GRAPHICS YES 4.44
------------------------------------------------------------------------------------------------------------------------------------
NOTES
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11
DOMESTIC SALES CONSOLIDATED
FINAL PRINTING
----------------------------------------------------------------------------------------------------------------------------------
TOTAL PRODUCTION NET SELLS MARKET MAIN
----------------------------------- -------------------------------------------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT SHARE TRADEMARKS CUSTOMERS
(%)
----------------------------------------------------------------------------------------------------------------------------------
TELEVISION:
PROGRAMMING HALF HOURS
PRODUCED
(DOMESTIC) 25.000
ADVERTISED TIME SOLD
(HALF HOURS) 1 2,689,787 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 148,125
PROGRAMMING FOR PAY
TELEVISION:
SALE OF SIGNALS 103,830
ADVERTISED TIME SOLD 9,656
PUBLISHING:
MAGAZINE CIRCULATION 32,747 226,969 14,102 155,107 TV Y NOVELAS MAGAZINE GENERAL PUBLIC (AUDIENCE)
TELEGUIA MAGAZINE, DEALERS
VANIDADES MAGAZINE COMMERCIAL CENTERS (MALLS)
COSMOPOLITAN MAGAZINE
BIOGRAPHICAL BOOKS
SOCCERMANIA MAGAZINE
MEN'S HEALTH MAGAZINE
TU MAGAZINE
MUY INTERESANTE MAGAZINE
PUBLISHING 70,359 VARIOUS
PUBLISHING DISTRIBUTION: 4,776 124,305 MAGAZINE:
"SELECCIONES" "BIBLIOTECA
TOLKIEN" "PRINCESAS DE
PORCELANA" "GRANDES
PROTAGONISTAS DE LA
HISTORIA" "FIELTRO"
CABLE TELEVISION:
ANALOGIC AND DIGITAL SERVICE 227,011 GENERAL PUBLIC
SERVICE INSTALLATION 2,321 OPERADORA MEGACABLE, S.A. DE
C.V.
PAY PER VIEW 327 CERVECERIA MODELO, S.A. DE C.V.
CHANNEL COMMERCIALIZATION 3,690 GRUPO WARNER LAMBERT MEXICO,
S. DE R.L DE C.V.
OTHER 5,657 DAIMLERCHRYSLER DE MEXICO, S.A.
DE C.V.
FORD MOTOR COMPANY, S.A. DE C.V.
THE COCA COLA EXPORT COMPANY.
KIMBERLY CLARK DE MEXICO, S.A.
DE C.V.
BANCO NACIONAL DE MEXICO, S.A.
ARENA COMMUNICATIONS,
S.A. DE C.V.
BAYER DE MEXICO, S.A. DE C.V.
BURGER KING MEXICANA, S.A.
DE C.V.
EL PALACIO DE HIERRO, S.A.
DE C.V.
RADIO:
ADVERTISED TIME SOLD 43,972 CERVECERIA MODELO, S.A. DE C.V.
ARENA COMMUNICATIONS, S.A.
DE C.V.
VENTAS Y SERVICIOS AL
CONSUMIDOR, S.A. DE C.V.
PUBLICIDAD EN MASA, S.A.
DE C.V.
GIGANTE, S.A. DE C.V.
PARTIDOS POLITICOS
COMERCIAL MEXICANA
EMBOTELLADORA MEXICANA, S.A.
DE C.V.
RR PRODUCCIONES, S.A. DE C.V.
BURGER KING MEXICANA, S.A.
DE C.V.
OTHER BUSINESSES:
DISTRIBUTION, RENTALS,
AND SALE
OF MOVIE RIGHTS 153,833 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 104,566 AMERICA GENERAL PUBLIC (AUDIENCE)
NECAXA FEDERACION MEXICANA DE FUTBOL,
REAL SAN LUIS A.C.
TICKET ACCES
NATIONWIDE PAGING SERVICE 67,283 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.
INTEGER, S.A. DE C.V.
FERROSUR, S.A. DE C.V.
SECRETARIA DE GOBERNACION
SCHERING PLOUGH, S.A. DE C.V.
BBVA BANCOMER, S.A.
UNILEVER, S.A. DE C.V.
I.B.M. DE MEXICO, S.A.
INTERNET SERVICES 15,372 ESMAS.COM MEDIA CONTACTS, S.A. DE C.V.
NIKE DE MEXICO, S.A. DE C.V.
MOTOROLA DE MEXICO, S.A. DE C.V.
TELEFONOS DE MEXICO, S.A.
DE C.V.
DUBBING SERVICES 624 DISTRIBUIDORA ROMARI, S.A.
DE C.V.
------------------------------------------------------------------------------------------------------------------------------------
TOTAL 226,969 3,925,825
------------------------------------------------------------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
GRUPO TELEVISA, S.A.
SALES DISTRIBUTION BY PRODUCT
ANNEX 11
FOREIGN SALES CONSOLIDATED
FINAL PRINTING
----------------------------------------------------------------------------------------------------------------------------------
TOTAL PRODUCTION NET SELLS MAIN
----------------------------------- ---------------------------------------------------------
MAIN PRODUCTS VOLUME AMOUNT VOLUME AMOUNT DESTINATION TRADEMARKS CUSTOMERS
----------------------------------------------------------------------------------------------------------------------------------
TELEVISION BROADCASTING:
ADVERTISING TIME SOLD 84,970 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 28,685 SPAIN
ARGENTINA
CHILE
GUATEMALA
PROGRAM LICENSING: COLOMBIA
PROGRAMMING AND ROYALTIES 406,678 UNITED STATES
OF AMERICA TELEVISA MCCANN ERICKSON
CENTRAL AMERICA TELEVISA MINDSHARE
CARIBBEAN TELEVISA BBDO WORLDWIDE
EUROPE TELEVISA SPOTPLUS
SOUTH AMERICA TELEVISA CARAT, INC.
AFRICA TELEVISA OPTIMUM MEDIA, INC.
ASIA TELEVISA GREY ADVERTISING, INC.
INITIATIVE MEDIA, INC.
GSD&M
DAILEY & ASSOCIATES
PUBLISHING:
MAGAZINE CIRCULATION, BOOKS
AND ADVERTISING 5,953 85,564 GUATEMALA AND T.V.Y NOVELAS MAGAZINE GENERAL PUBLIC (AUDIENCE)
COSTA RICA
UNITED STATES OF BIOGRAPHICAL BOOKS DEALERS
AMERICA
PANAMA VANIDADES MAGAZINE
SOUTH AMERICA COSMOPOLITAN MAGAZINE
CENTRAL AMERICA TU MAGAZINE
PUBLISHING 31,539
PUBLISHING DISTRIBUTION: 2,689 240,231 PANAMA SEMANA MAGAZINE GENERAL PUBLIC (AUDIENCE)
SOUTH AMERICA SELECCIONES MAGAZINE
CROMOS MAGAZINE
CAMBIO 16 MAGAZINE
HAGA FACIL MAGAZINE
OTHER BUSINESSES:
DUBBING SERVICES 8,313 UNITED STATES OF VIDEX INTERNATIONAL, S.A
AMERICA COLUMBIA TRISTAR INTERNATIONAL
TELEVISION
C.B.S. BROADCAST INTERNATIONAL
TWENTIETH CENTURY FOX
INTERNATIONAL TELEVISION
TELEVIX ENTERTAINMENT
----------------------------------------------------------------------------------------------------------------------------------
TOTAL 885,980
----------------------------------------------------------------------------------------------------------------------------------
5/1/03 3:19
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
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: 2002 4,681,817
Number of shares Outstanding at the Date of the NFE 9,133,040,705
( Units )
---- ARE THE FIGURES FISCALLY AUDITED? ---- ARE FIGURES FISCALLY CONSOLIDATED?
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
DIVIDENDS COLLECTED IN THE PERIOD
-------------------------------------------------------------------------------
NUMBER OF SHARES
QUARTER SERIES OUTSTANDING DATE OF SETLEMENT 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, 2003
FISCAL EARNINGS 0
- DETERMINED INCOME 0
+ DEDUCTED WORKER'S PROFIT SHARIN0
- DETERMINER WORKER 0
- DETERMINED RFE 0
- NON DEDUCTABLES 0
NFE OF PERIOD: 0
-------------------------------------------------------------------------------
BALANCE OF THE NFEA AT THE END OF THE PERIOD
(Present year Information)
-------------------------------------------------------------------------------
NFEA BALANCE TO 31 OF MARCH OF 2003 4,752,335
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 )
-------------------------------------------------------------------------------
5/1/03 3:19
MEXICAN STOCK EXCHANGE
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA QUARTER: 1 YEAR: 2003
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 2002 624,936
Number of shares Outstanding at the Date of the NFEAR: 9,133,040,705
( Units )
--- ARE FIGURES FISCALLY AUDITED? --- ARE FIGURES FISCALLY CONSOLIDATED?
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
DIVIDENDS PAIDOUT IN THE PERIOD THAT COMES FROM THE NFEAR
-------------------------------------------------------------------------------
NUMBER OF SHARES
QUARTER SERIES OUTSTANDING DATE OF SETTLEMENT AMOUNT
-------------------------------------------------------------------------------
0 0 0.00 0.00
-------------------------------------------------------------------------------
DETERMINATION OF THE NFEAR OF THE PRESENT YEAR
-------------------------------------------------------------------------------
NFER FROM THE PERIOD FROM JANUARY 1 TO 31 OF DECEMBER 2003
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:
NFER FROM THE PERIOD
-------------------------------------------------------------------------------
BALANCE OF THE NFEAR AT THE END OF THE PERIOD
-------------------------------------------------------------------------------
NFEAR BALANCE TO: 31 OF MARCH 2003 633,159
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 )
-------------------------------------------------------------------------------
5/1/03 3:19
MEXICAN STOCK EXCHANGE ("BMV")
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA DATE: 5/1/03
GENERAL DATA OF ISSUER
-------------------------------------------------------------------------------
COMPANY'S NAME: GRUPO TELEVISA, S.A.
ADDRESS: AV. VASCO DE QUIROGA # 2000
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-20-00
FAX: 5261-24-94 AUTOMATICO
E-MAIL: ir@televisa.com.mx
INTERNET ADDRESS: www.televisa.com.mx
TAX DATA OF THE ISSUER
-------------------------------------------------------------------------------
COMPANY TAX CODE: GTE901219GK3
ADDRESS: AV. VASCO DE QUIROGA # 2000
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
RESPONSIBLE FOR PAYMENT
-------------------------------------------------------------------------------
NAME: C.P. JOSE RAUL GONZALEZ LIMA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 1
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-77
FAX: 5261-20-43
EXECUTIVES DATA
-------------------------------------------------------------------------------
BMV POSITION: CHAIRMAN OF THE BOARD
POSITION: CHAIRMAN OF THE BOARD
NAME: SR. EMILIO FERNANDO AZCARRAGA JEAN
ADDRESS: AV. CHAPULTEPEC # 28 PISO 1
NEIGHBORHOOD: DOCTORES
ZIP CODE: O6724
CITY AND STATE: MEXICO D.F.
TELEPHONE: 5709-42-89
FAX: 5709-39-88
E-MAIL: emilio@televisa.com.mx
-------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE ("BMV")
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA DATE: 5/1/03
BMV POSITION: GENERAL DIRECTOR
POSITION: PRESIDENT AND CHIEF EXECUTIVE OFFICER
NAME: SR. EMILIO FERNANDO AZCARRAGA JEAN
ADDRESS: AV. CHAPULTEPEC # 28 PISO 1
NEIGHBORHOOD: DOCTORES
ZIP CODE: O6724
CITY AND STATE: MEXICO D.F.
TELEPHONE: 5709-42-89
FAX: 5709-39-88
E-MAIL: emilio@televisa.com.mx
-------------------------------------------------------------------------------
BMV POSITION: FINANCE DIRECTOR
POSITION: EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
NAME: LIC. ALFONSO DE ANGOITIA NORIEGA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO D.F.
TELEPHONE: 5261-24-52
FAX: 5261-24-54
E-MAIL: aangoitia@televisa.com.mx
-------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR SENDING QUARTERLY FINANCIAL INFORMATION
POSITION: DIRECTOR OF CORPORATE FINANCIAL INFORMATION
NAME: C.P. JOSE RAUL GONZALEZ LIMA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 1
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-77
FAX: 5261-20-43
E-MAIL: rglima@televisa.com.mx
-------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR LEGAL MATTERS
POSITION: VICE PRESIDENT - LEGAL AND GENERAL COUNSEL OF GRUPO
TELEVISA
NAME: LIC. JUAN SEBASTIAN MIJARES ORTEGA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-85
FAX: 5261-25-46
E-MAIL: jmijares@televisa.com.mx
-------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE ("BMV")
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA DATE: 5/1/03
BMV POSITION: SECRETARY OF THE BOARD OF DIRECTORS
POSITION: SECRETARY OF THE BOARD OF DIRECTORS
NAME: LIC. JUAN SEBASTIAN MIJARES ORTEGA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-85
FAX: 5261-25-46
E-MAIL: jmijares@televisa.com.mx
-------------------------------------------------------------------------------
BMV POSITION: PROSECRETARY OF THE BOARD OF DIRECTORS
POSITION: EXTERNAL GENERAL COUNSEL
NAME: LIC. RICARDO MALDONADO YANEZ
ADDRESS: MONTES URALES 505, PISO 3
NEIGHBORHOOD: LOMAS DE CHAPULTEPEC
ZIP CODE: 11000
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5201-74-47
FAX: 5520-10-65
E-MAIL: rmaldonado@macf.com.mx
-------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE OF INFORMATION TO INVESTORS
POSITION: DIRECTOR OF INVESTOR RELATIONS
NAME: LIC. ALBERTO ISLAS TORRES
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-20-42
FAX: 5261-24-94
E-MAIL: aislast@televisa.com.mx
-------------------------------------------------------------------------------
BMV POSITION: RESPONSIBLE FOR SENDING INFORMATION THROUGH EMISNET
POSITION: SECRETARY OF THE BOARD OF DIRECTORS
NAME: LIC. JUAN SEBASTIAN MIJARES ORTEGA
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-25-85
FAX: 5261-25-46
E-MAIL: jmijares@televisa.com.mx
-------------------------------------------------------------------------------
MEXICAN STOCK EXCHANGE ("BMV")
SIFIC / ICS
STOCK EXCHANGE CODE: TLEVISA DATE: 5/1/03
BMV POSITION: RESPONSIBLE FOR SENDING RELEVANT EVENTS THROUGH EMISNET
POSITION: DIRECTOR OF INVESTOR RELATIONS
NAME: LIC. ALBERTO ISLAS TORRES
ADDRESS: AV. VASCO DE QUIROGA # 2000 EDIFICIO A PISO 4
NEIGHBORHOOD: SANTA FE
ZIP CODE: O1210
CITY AND STATE: MEXICO, D.F.
TELEPHONE: 5261-20-42
FAX: 5261-24-94
E-MAIL: aislast@televisa.com.mx
-------------------------------------------------------------------------------
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: May 2, 2003 By /s/ Jorge Lutteroth Echegoyen
------------------------------
Name: Jorge Lutteroth Echegoyen
Title: Controller, Vice-President