Grupo Televisa, S.A.B. · BMV:TLEVISA/CPO
Grupo Televisa, S.A.B — Q1 2026 Earnings Presentation
18 slides from Grupo Televisa, S.A.B's earnings presentation, Apr 29, 2026
Slide 1: Investor Presentation First Quarter 2026
Investor Presentation FIRST QUARTER 2026 www.televisair.com | ©2025 | 1
Slide 2: Adjustments on the reporting presentation
Adjustments on the reporting presentation Beginning in the fourth quarter of 2025, we present the operating results of our Cable and Sky businesses as a single reportable segment, Telecom, with three categories of revenues: Residential, Satellite and Enterprise. This change in segment reporting is a
Slide 3: Q1'26 Highlights
Q1’26 Highlights CONSOLIDATED • Revenue declined by 3.1%, while Operating Segment Income (“OSI”) increased by 5.2%, representing a 41.4% margin, continuing the sequential improvements. • OSI margin expanded by approximately 330 basis points, driven by ongoing efficiencies and synergies. • Operating
Slide 4: Televisa's Consolidated Revenue breakdown and OSI
Televisa’s Consolidated Revenue breakdown and OSI REVENUE REVENUE Service Distribution (in Ps. Million) Revenue Y/Y % 73% Residential 10,612 0.9% Satellite 2,616 -24.6% Q1’26 Results Enterprise Telecom 1,285 30.0% 14,513 -3.1% Revenues OSI1 6,001 5.2% OSI Margin 2 41.4% 330bps 18% 9% 1 Operating seg
Slide 5: Residential & Enterprise: Goals
Residential & Enterprise: Goals With our extensive infrastructure, we will continue to focus on: RESIDENTIAL & ENTERPRISE • Value customers • Keep working on maintaining low levels of churn • Implementing efficiency measures to improve profitability • Optimizing Capex and enhancing Free-Cash-Flow ge
Slide 6: Residential: 15.7 million revenue generating units
Residential: 15.7 million revenue generating units Passed 11.8 thousand additional homes with FTTH in Q1’26 • More than 20.0 million homes passed Total RGUs RGU Mix Million ‣ Over 52% homes are passed with fiber- to-the-home, and about 35% with fiber- 15.5 15.7 15.2 15.3 15.4 to-the-node • In Q1’26,
Slide 7: Residential & Enterprise: Steady demand in Q1'26
Q1'2 0 236 272 CABLE Q2'2 0 Q3'2 0 278 Q4'2 0 270 Q1'2 1 302 Q2'2 1 314 Q3'2 1 329 Q4'2 1 313 Q1'2 2 332 Q2'2 2 326 Q3'2 2 347 Source: Internal Company data. Q4'2 2 336 Q1'2 3 360 373 Gigabytes Q2'2 3 Q3'2 3 395 Q4'2 3 403 Q1'2 4 418 (For Televisa Cable Customers) Monthly Data Usage Q2'2 4 456 Q3'2
Slide 8: Satellite: Goals
Satellite: Goals Continue to be an important telecom player with 3.4 million RGUs SATELLITE • Offer attractive bundles • Continue innovating on pay TV offers • Focus on Cash Flow generation ©2025 | 8 www.televisair.com | ©2026
Slide 9: Satellite: 3.4 million RGUs
Satellite: 3.4 million RGUs Net-disconnections of 325.7 thousand RGUs in Q1’26, driven by prepaid video subs Total RGUs • The integration with our Residential & Enterprise services Million is set to contribute to reduce churn by having a better customer base management, and cross selling and upselli
Slide 10: Televisa's financial performance
Televisa’s financial performance OSI1 OCF2 Revenue 1 8.0 1 8.0 & OSI Margin 1 8.50 0 .0% & OCF Margin 40 .0% Q1’26 Results 41.4% 1 6.0 45. 0% 1 6.0 1 6.0 35. 0% 38.1% 1 4.0 14.9 14.5 1 4.0 40 .0% 1 4.0 26.2% 30 .0% • Revenue fell by 3.1% YoY, mainly 24.2% 35. 0% 1 2.0 1 2.0 1 2.0 driven by the reven
Slide 11: Liquidity and Debt
Liquidity and Debt Strong liquidity Total Liquidity1 Total Gross Debt1 position Cash 25.0 Bonds 73.2 • Total Net Debt of Ps 49.8 billion, Other 4.1 Bank Loans 10.0 or US$2.8 billion. Net Debt-to-OSI* (LTM) of 2.1x Temporary Leases 6.5 9.7 Investments Total 89.7 • Excluding leases, our Net Debt-to- T
Slide 12: Debt Maturity
Debt Maturity Debt Maturity Comfortable (USD Million) liquidity position & USD Bonds 880 debt maturity MXN Loans 791 profile MXN Bonds 661 600 557 • On January 30, 2026, we repaid all of the amounts payable under the remaining 4.625% Senior 347 Notes due 2026, including the 300 principal amount of U
Slide 13: Capital Expenditures
Capital Expenditures Capex (USD Million) Capex deployment 1,149 focused on higher 992 investment returns 940 860 829 • In 2025, our Capex deployment 645 was US$645 million 493 • In 2026, our Capex-to-sales ratio is expected to be around 25% 2019 2020 2021 2022 2023 2024 2025 Total Capex ©2025 | 13 w
Slide 14: Our Path in Sustainability since 2014
Our Path in Sustainability since 2014 We bring people closer to what matters most to them ESG strategy measured and periodically monitored ESG initiatives designed and executed company-wide through interdisciplinary ＞ Standards and Working Groups recommendation Adoption: ＞ SASB ＞ Sustainability info
Slide 15: Sustainability Strategy: New Approach
Sustainability Strategy: New Approach In 2025 we worked on a new approach to the sustainability strategy. The goal behind it is to have a better alignment with the business strategy, this way, every sustainability effort is reflected as operational efficiency, risk mitigation, and overall business r
Slide 16: Our ESG efforts continue to be acknowledged
Our ESG efforts continue to be acknowledged Grupo Televisa maintained an Grupo Televisa increased 11 Grupo Televisa received a rating ESG rating of “BBB” from MSCI, points compared to 2024 in its of 13.9 in Sustainalytics, which the largest rating agency for Corporate Sustainability categorizes as l
Slide 17: Televisa: A strong foundation
Televisa: A strong foundation Focused on building shareholder value Our priorities: • Unique market presence in our core businesses • Innovation across all our operations • Diversified revenue base • Constant transformation of • Mexico’s second largest telecom network our business model • Largest sh
Slide 18: Disclaimer
Disclaimer This presentation 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 presentation should be read in conjunction with the factors described in “Item 3. Key I
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