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In the Context of the Health Contingency, TV Azteca Announces 21% Reduction in Net Sales, to Ps.2,462 Million in 1Q20

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

MEXICO CITY, May 26, 2020 (GLOBE NEWSWIRE) — TV Azteca, S.A.B. de C.V. (BMV: AZTECACPO; Latibex: XTZA), one of the two largest producers of Spanish-language television programming in the world, today announced financial results for the first quarter 2020.
“The uncertainty regarding the negative impact of the arrival of COVID-19 in Mexico prevented the generation of expected revenues, since advertising spending by our clients was considerably reduced,” commented Esteban Galíndez, CFO of TV Azteca. “Additionally, the difficult environment resulted in a significant depreciation of the Mexican peso, which increased our dollar-denominated costs, and significantly deteriorated profitability.”First quarter resultsNet revenue for the period was Ps.2,462 million, in comparison with Ps.3,110 million for the same quarter of last year. Total costs and expenses were Ps.2,734 million, from Ps.2,676 million for the previous year.As a result, TV Azteca reported a negative EBITDA figure of Ps.273 million, in comparison with a positive result of Ps.434 million a year ago. TV Azteca generated an operating loss of Ps.537 million, in comparison with an operating income of Ps.165 million for the previous year.The company registered a net loss of Ps.2,776 million, compared to a net loss of Ps.387 million for the same period of 2019.

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