TV Azteca Announces Net Sales of Ps.2,913 Million and EBITDA of Ps.464 Million in 3Q19
MEXICO CITY, Oct. 24, 2019 (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, announced today the financial results for the third quarter of 2019.
“TV Azteca advances firmly in concrete actions of its transformation process to be an agile and successful company in the immediate future. We continue to generate leading audience content in the industry and expand distribution platforms, which will allow us to successfully diversify our sources of revenue,” commented Benjamin Salinas, CEO of TV Azteca. “This is a complex quarter in its comparison base, due to the extraordinary revenues last year linked to the World Cup, as well as a lower government demand for advertising spaces in the media market, which resulted in a decrease of top line and EBITDA in the period.”Third quarter consolidated resultsNet revenue for the period was Ps.2,913 million, 14% lower than the Ps.3,387 million for the same quarter of last year. Total costs and expenses were Ps.2,449 million, in comparison to Ps.2,406 million for the previous year.
As a result, TV Azteca reported EBITDA of Ps.464 million, from Ps.980 million a year ago. The EBITDA margin for the quarter was 16%, in comparison to 29% a year ago. Operating income was Ps.201 million, in comparison with Ps.666 million for the previous year.The company registered a net income of Ps.194 million, from a net income of Ps.438 million for the same period in 2018.