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Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico City, Mexico
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(Address of principal executive offices)
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Form 20-F
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x
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Form 40-F
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Yes
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No
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x
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Yes
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No
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x
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TLEVISA
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Consolidated
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Ticker: TLEVISA
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Quarter: 4 Year: 2016
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[105000] Management commentary
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2
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[110000] General information about financial statements
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12
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[210000] Statement of financial position, current/non-current
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14
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[310000] Statement of comprehensive income, profit or loss, by function of expense
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16
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[410000] Statement of comprehensive income, OCI components presented net of tax
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17
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[520000] Statement of cash flows, indirect method
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19
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[610000] Statement of changes in equity - Accumulated Current
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21
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[610000] Statement of changes in equity - Accumulated Previous
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24
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[700000] Informative data about the Statement of financial position
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27
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[700002] Informative data about the Income statement
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28
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[700003] Informative data - Income statement for 12 months
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29
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[800001] Breakdown of credits
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30
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[800003] Annex - Monetary foreign currency position
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32
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[800005] Annex - Distribution of income by product
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33
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[800007] Annex - Financial derivate instruments
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34
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[800100] Notes - Subclassifications of assets, liabilities and equities
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39
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[800200] Notes - Analysis of income and expense
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43
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[800500] Notes - List of notes
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44
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[800600] Notes - List of accounting policies
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45
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[813000] Notes - Interim financial reporting
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46
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Footnotes
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77
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2016
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Margin %
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2015
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Margin %
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Change %
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|
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Net sales
|
96,287.4
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100.0
|
88,051.8
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100.0
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9.4
|
|
Net income
|
5,333.4
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5.5
|
12,325.4
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14.0
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(56.7)
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Net income attributable to stockholders of the Company
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3,721.4
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3.9
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10,899.1
|
12.4
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(65.9)
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|
Segment net sales
|
99,347.8
|
100.0
|
90,198.7
|
100.0
|
10.1
|
|
Operating segment income (1)
|
38,923.2
|
39.2
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35,695.3
|
39.6
|
9.0
|
|
·
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A Ps.2,808.9 million increase in other expense, net, as a result of (a) non-recurring cash income in 2015; (b) non-recurrent severance expenses as part of our cost reduction plan; (c) higher legal and professional advisory services; and (d) a higher non-cash loss on disposition of property, plant and equipment as part of the network upgrades in our Cable segment.
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·
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A Ps.9,409.2 million increase in finance expense, net, primarily as a result of the absence of other finance income recognized by us in 2015 in connection with our exchange of Convertible Debentures issued by Univision Holdings, Inc. (“UHI”), the controlling company of Univision Communications Inc. (“Univision”), for Warrants that are exercisable for UHI’s common stock.
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•
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Imposition of fines by regulators and other authorities could adversely affect our financial condition and results of operations
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•
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Social Security Law
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•
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Federal Labor Law
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•
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Mexican tax laws
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•
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Elimination of the tax consolidation regime
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•
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Limitation of the deduction of non-taxable employee benefits
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•
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Increase to the border Value Added Tax rate
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•
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The amendment to the regulations of the General Health Law on advertising could materially affect our business, results of operations and financial condition
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•
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Mexican Securities Market Law
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•
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The operation of our business may be adversely affected if the Mexican government does not renew or revokes our broadcast or other concessions
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•
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Control of a stockholder
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•
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Measures for the prevention of the taking of control
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•
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Competition
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•
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The seasonal nature of our business
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•
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Loss of transmission or loss of the use of satellite transponders could cause a business interruption in Innova, which would adversely affect our net income
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•
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Any incidents affecting our network and information systems or other technologies could have an adverse impact on our business, reputation and results of operations
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•
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The results of operations of UHI may affect our results of operations and the value of our investment in that Company
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•
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Uncertainty in global financial markets could adversely affect our financing costs and exposure to our customers and counterparties
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•
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Political events in Mexico could affect Mexican economic policy and our business, financial condition and results of operations
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Net Sales
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2016
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%
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2015
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%
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Change %
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Content
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36,686.7
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36.9
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34,332.6
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38.1
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6.9
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Sky
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21,941.2
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22.1
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19,253.5
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21.3
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14.0
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Cable
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31,891.6
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32.1
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28,488.3
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31.6
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11.9
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Other Businesses
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8,828.3
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8.9
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8,124.3
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9.0
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8.7
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Segment Net Sales
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99,347.8
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100.0
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90,198.7
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100.0
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10.1
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Intersegment Operations1
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(3,060.4)
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(2,146.9)
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(42.5)
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Net Sales
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96,287.4
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88,051.8
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9.4
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Operating Segment Income2
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2016
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Margin %
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2015
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Margin %
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Change %
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Content
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14,748.0
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40.2
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14,564.2
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42.4
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1.3
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Sky
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9,898.5
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45.1
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8,972.3
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46.6
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10.3
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Cable
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13,236.1
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41.5
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11,405.6
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40.0
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16.0
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Other Businesses
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1,040.6
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11.8
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753.2
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9.3
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38.2
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Operating Segment Income
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38,923.2
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39.2
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35,695.3
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39.6
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9.0
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Corporate Expenses
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(2,207.9)
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(2.2)
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(1,960.8)
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(2.2)
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(12.6)
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Depreciation and Amortization
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(16,979.8)
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(17.6)
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(14,660.9)
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(16.7)
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(15.8)
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Other Expense, net
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(3,137.4)
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(3.3)
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(328.5)
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(0.4)
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(855.1)
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Operating Income
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16,598.1
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17.2
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18,745.1
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21.3
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(11.5)
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Content
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Fourth quarter sales increased by 8.6% to Ps.11,690.9 million compared with Ps.10,763.4 million in fourth quarter 2015.
Full year sales increased by 6.9% to Ps.36,686.7 million compared with Ps.34,332.6 million in 2015.
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Millions of Mexican pesos
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2016
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%
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2015
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%
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Change %
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Advertising
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23,223.2
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63.3
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23,029.3
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67.1
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0.8
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Network Subscription Revenue
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4,399.3
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12.0
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3,595.4
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10.5
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22.4
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Licensing and Syndication
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9,064.2
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24.7
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7,707.9
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22.4
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17.6
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Net Sales
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36,686.7
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100.0
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34,332.6
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100.0
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6.9
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Advertising
Advertising fourth quarter revenue increased by 4.0% to Ps.7,995.5 million compared with Ps.7,687.3 million in fourth quarter 2015. This is the highest revenue growth of the last 10 quarters.
As a result, full year revenue growth reached 0.8%. The modest growth in 2016 follows a contraction in revenues during 2015 that resulted from the restructuring of our advertising sales organization.
Advertising customer deposits for 2017 grew by 8.9%.
Network Subscription Revenue
Fourth-quarter Network Subscription Revenue increased by 6.1% to Ps.1,045.4 million compared to Ps.984.9 million in fourth-quarter 2015.
Full year Network Subscription Revenue increased by 22.4%. The growth in the fourth quarter and in the full year was driven mainly by the sustained addition of pay-TV subscribers, both in Mexico and Latin America and a positive translation effect on foreign-currency denominated revenues. These two factors more than compensated for the loss of revenue from Megacable starting in September 2016.
During 2016, Televisa continued to produce and transmit several of the leading pay-TV networks in Mexico in key categories, including general entertainment, music and lifestyle, and movies. During 2016, 11 of the top 30 pay-TV networks in Mexico were produced by Televisa.
Licensing and Syndication
Fourth-quarter Licensing and Syndication revenue increased by 26.7% to Ps.2,650.0 million compared to Ps.2,091.2 million in fourth-quarter 2015. Fourth-quarter royalties from Univision increased by 11.8% to US$90.4 million in the fourth-quarter 2016 from US$80.9 million in the fourth-quarter 2015 and for the full year 2016 royalties from Univision reached US$324.6 million, equivalent to a growth of 4.3% from 2015.
The full year increase in Licensing and Syndication revenue of 17.6% is mainly explained by a positive translation effect on foreign-currency-denominated revenues.
In the aggregate for the full year, the Content segment results reflect a positive translation effect on foreign-currency-denominated sales that amounted to Ps.1,887.0 million.
Fourth quarter operating segment income for our Content segment increased by 4.7% to Ps.4,767.8 million compared with Ps.4,555.0 million in fourth quarter 2015; the margin was 40.8%.
Full-year operating segment income for our Content segment increased by 1.3% to Ps.14,748.0 million compared with Ps.14,564.2 million in 2015. The margin was 40.2%. The moderate growth in operating segment income was possible in spite of the increased investment in the production of content, the loss of revenue from Megacable starting September, 2016, and the decision not to renew the agreement with Netflix starting July, 2016.
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Sky
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Fourth quarter sales increased by 9.8% to Ps.5,505.1 million compared with Ps.5,012.5 million in fourth quarter 2015. During the quarter, Sky added a total of 99,841 subscribers.
Full year sales increased by 14.0% to Ps.21,941.2 million compared with Ps.19,253.5 million in 2015. The increase in revenue was the fastest of the last four years and was driven by a growth in the subscribers of 742 thousand. Strong revenue growth was also driven by a higher than usual re-charge rate in the first half of 2016 following the transition from analog to digital transmission of broadcast signals.
As of December 31, 2016, the number of net active subscribers increased to 8,026,519 (including 190,545 commercial subscribers), compared with 7,284,162 (including 178,915 commercial subscribers) as of December 31, 2015. Sky closed the year with 206,814 subscribers in Central America and the Dominican Republic.
Fourth quarter operating segment income increased by 9.3% to Ps.2,423.8 million compared with Ps.2,217.1 million in fourth quarter 2015, and the margin was 44.0%.
Full year operating segment income increased by 10.3% to Ps.9,898.5 million compared with Ps.8,972.3 million in 2015, and the margin was 45.1%. The increase in revenues was partially compensated by higher programming costs mainly as a result of the depreciation of the Mexican peso.
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Cable
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Fourth quarter sales increased by 9.8% to Ps.8,313.2 million compared with Ps.7,569.9 million in fourth quarter 2015 driven by growth in our cable platforms.
Full year sales increased by 11.9% to Ps.31,891.6 million compared with Ps.28,488.3 million in 2015.
Voice and data revenue generating units, or RGUs, grew by 11.8% and 11.3% compared with 2015, respectively, and video RGUs grew by 3.6%.
The following table sets forth the breakdown of RGUs per service type for our Cable segment as of December 31, 2016 and 2015.
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RGUs
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2016
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2015
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Video
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4,205,864
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4,061,655
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|
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Broadband
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3,411,790
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3,066,699
|
|
|
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Voice
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2,113,282
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1,891,026
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|
|
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Total RGUs
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9,730,936
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9,019,380
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|
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Growth in fourth quarter RGUs was affected by, among other factors, (i) increased competitive pressures; (ii) the acceleration of the pace of integration of our five cable operations, (iii) an economic slowdown in certain areas within our systems, and (iv) the implementation of a more stringent client acceptance process.
Fourth quarter operating segment income increased by 11.2% to Ps.3,346.2 million compared with Ps.3,010.1 million in fourth quarter 2015, and the margin reached 40.3%.
Full year operating segment income increased by 16.0% to Ps.13,236.1 million compared with Ps.11,405.6 million in 2015. The margin reached 41.5%, equivalent to an increase of 150 basis points from 2015, and the highest on record. The increase in the margin was possible due to the aggressive cost savings program implemented throughout the year and process of integration of our five cable operations.
These favorable variances were partially offset by higher programming costs mainly as a result of the depreciation of the Mexican peso and by higher maintenance, personnel and leasing costs and expenses.
The following tables set forth the breakdown of revenues and operating segment income, excluding consolidation adjustments, for our cable and network operations for 2016 and 2015.
Our cable operations include the video, voice and data services provided by Cablevision, Cablemas, TVI, Cablecom and Telecable. Our network operations include the services offered by Bestel and the network operations of Cablecom.
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|
2016
Millions of Mexican pesos
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Cable Operations (1)
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Network Operations (1)
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Total Cable
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|
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Revenue
|
27,517.1
|
5,654.6
|
31,891.6
|
|
|
Operating Segment Income
|
11,771.7
|
2,021.0
|
13,236.1
|
|
|
Margin
|
42.8%
|
35.7%
|
41.5%
|
|
|
(1) These results do not include consolidation adjustments of Ps.1,280.1 million in revenues nor Ps.556.6 million in Operating Segment Income, which are considered in the consolidated results of the Cable segment.
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|||
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|
|
|||
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|
2015
Millions of Mexican pesos
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Cable Operations (2)
|
Network Operations (2)
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Total Cable
|
|
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Revenue
|
24,279.5
|
5,072.6
|
28,488.3
|
|
|
Operating Segment Income
|
9,781.9
|
1,944.4
|
11,405.6
|
|
|
Margin
|
40.3%
|
38.3%
|
40.0%
|
|
|
(2) These results do not include consolidation adjustments of Ps.863.8 million in revenues nor Ps.320.7 million in Operating Segment Income, which are considered in the consolidated results of the Cable segment.
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Other Businesses
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Fourth quarter sales increased by 21.0% to Ps.2,783.0 million compared with Ps.2,300.5 million in fourth quarter 2015. The increase is mainly explained by higher revenues in our soccer, gaming and publishing businesses, partially offset by a decrease in revenues of our feature film distribution business.
Full year sales increased by 8.7% to Ps.8,828.3 million compared with Ps.8,124.3 million in 2015. Businesses that performed well include soccer, and gaming. The gaming business benefited from higher revenues from our electronic gaming machines, while soccer saw an increase in revenues as a result of player-related transactions.
Fourth quarter operating segment income reached Ps.368.1 million compared with Ps.144.5 million in fourth quarter 2015.
Full year operating segment income increased by 38.2% to Ps.1,040.6 million compared with Ps.753.2 million in 2015, reflecting primarily i) an increase in the operating segment income of our gaming and soccer businesses; ii) a decrease in the operating segment loss of our publishing distribution business.
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| (i) |
legal and accounting advisory and professional services during 2016 of Ps.833.6 million;
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| (ii) |
a non-cash loss of approximately Ps.551.5 million on disposition of property, plant and equipment as part of the network upgrades in our Cable segment operations;
|
| (iii) |
a non-recurring severance expense in 2016 of Ps.912.2 million in connection with dismissals of personnel in our Content, Cable and Other Businesses segments, as part of a cost reduction plan; and
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| (iv) |
non-recurring costs of approximately Ps.259.3 million incurred in connection with the cancellation of a contract for a new satellite in our Sky segment.
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|
2016
|
2015
|
(Increase) decrease
|
|
|
Interest expense
|
(8,497.9)
|
(6,239.4)
|
(2,258.5)
|
|
Interest income
|
1,499.5
|
1,027.8
|
471.7
|
|
Foreign exchange loss, net
|
(2,490.3)
|
(2,426.0)
|
(64.3)
|
|
Other finance (expense) income, net
|
(43.4)
|
7,514.7
|
(7,558.1)
|
|
Finance expense, net
|
(9,532.1)
|
(122.9)
|
(9,409.2)
|
| (i) |
an unfavorable change of Ps.7,558.1 million decrease in other finance income or expense, net, resulting primarily from the absence of other finance income recognized by us in July 2015 in connection with our exchange of Convertible Debentures issued by UHI, the controlling company of Univision, for Warrants that are exercisable for UHI’s common stock, which included a cash amount of Ps.2,195 million (US$135.1 million) received from UHI for such exchange, and a Ps.4,718.2 million reclassification from accumulated other comprehensive income in consolidated equity in connection with a cumulative non-cash gain related to changes in fair value of such debentures;
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| (ii) |
a Ps.2,258.5 million increase in interest expense, due primarily to a higher average principal amount of debt, finance lease obligations and other notes payable in 2016 and the impact of the depreciation of the Mexican peso against the U.S. dollar on such interest expense; and
|
| (iii) |
a Ps.64.3 million increase in foreign exchange loss, net, resulting primarily from the depreciation of the Mexican peso against the U.S. dollar on a higher average net U.S. dollar liability position in 2016, which was partially offset by a favorable hedge effect resulting from our higher U.S. dollar investment in UHI in 2016.
|
|
Dec 31, 2016
|
Dec 31, 2015
|
Increase (decrease)
|
|
|
Current portion of long-term debt
|
850.9
|
2,979.8
|
(2,128.9)
|
|
Long-term debt, net of current portion
|
126,146.7
|
107,430.8
|
18,715.9
|
|
Total debt 1
|
126,997.6
|
110,410.6
|
16,587.0
|
|
Current portion of finance lease obligations
|
575.6
|
511.6
|
64.0
|
|
Long-term finance lease obligations
|
5,816.2
|
5,293.6
|
522.6
|
|
Total finance lease obligations
|
6,391.8
|
5,805.2
|
586.6
|
|
Current portion of other notes payable
|
1,202.3
|
-
|
1,202.3
|
|
Other notes payable, net of current portion
|
3,650.7
|
-
|
3,650.7
|
|
Total other notes payable 2
|
4,853.0
|
-
|
4,853.0
|
|
|
2016
|
Margin %
|
2015
|
Margin %
|
Change %
|
|
Net sales
|
96,287.4
|
100.0
|
88,051.8
|
100.0
|
9.4
|
|
Net income
|
5,333.4
|
5.5
|
12,325.4
|
14.0
|
(56.7)
|
|
Net income attributable to stockholders of the Company
|
3,721.4
|
3.9
|
10,899.1
|
12.4
|
(65.9)
|
|
Segment net sales
|
99,347.8
|
100.0
|
90,198.7
|
100.0
|
10.1
|
|
Operating segment income (1)
|
38,923.2
|
39.2
|
35,695.3
|
39.6
|
9.0
|
|
Net Sales
|
2016
|
%
|
2015
|
%
|
Change %
|
|
Content
|
36,686.7
|
36.9
|
34,332.6
|
38.1
|
6.9
|
|
Sky
|
21,941.2
|
22.1
|
19,253.5
|
21.3
|
14.0
|
|
Cable
|
31,891.6
|
32.1
|
28,488.3
|
31.6
|
11.9
|
|
Other Businesses
|
8,828.3
|
8.9
|
8,124.3
|
9.0
|
8.7
|
|
Segment Net Sales
|
99,347.8
|
100.0
|
90,198.7
|
100.0
|
10.1
|
|
Intersegment Operations1
|
(3,060.4)
|
|
(2,146.9)
|
|
(42.5)
|
|
Net Sales
|
96,287.4
|
|
88,051.8
|
|
9.4
|
|
Operating Segment Income2
|
2016
|
Margin %
|
2015
|
Margin %
|
Change %
|
|
Content
|
14,748.0
|
40.2
|
14,564.2
|
42.4
|
1.3
|
|
Sky
|
9,898.5
|
45.1
|
8,972.3
|
46.6
|
10.3
|
|
Cable
|
13,236.1
|
41.5
|
11,405.6
|
40.0
|
16.0
|
|
Other Businesses
|
1,040.6
|
11.8
|
753.2
|
9.3
|
38.2
|
|
Operating Segment Income
|
38,923.2
|
39.2
|
35,695.3
|
39.6
|
9.0
|
|
Corporate Expenses
|
(2,207.9)
|
(2.2)
|
(1,960.8)
|
(2.2)
|
(12.6)
|
|
Depreciation and Amortization
|
(16,979.8)
|
(17.6)
|
(14,660.9)
|
(16.7)
|
(15.8)
|
|
Other Expense, net
|
(3,137.4)
|
(3.3)
|
(328.5)
|
(0.4)
|
(855.1)
|
|
Operating Income
|
16,598.1
|
17.2
|
18,745.1
|
21.3
|
(11.5)
|
|
Net Sales
|
4Q 2016
|
%
|
4Q 2015
|
%
|
Change %
|
|
Content
|
11,690.9
|
41.3
|
10,763.4
|
42.0
|
8.6
|
|
Sky
|
5,505.1
|
19.5
|
5,012.5
|
19.5
|
9.8
|
|
Cable
|
8,313.2
|
29.4
|
7,569.9
|
29.5
|
9.8
|
|
Other Businesses
|
2,783.0
|
9.8
|
2,300.5
|
9.0
|
21.0
|
|
Segment Net Sales
|
28,292.2
|
100.0
|
25,646.3
|
100.0
|
10.3
|
|
Intersegment Operations 1
|
(991.6)
|
|
(695.2)
|
|
(42.6)
|
|
Net Sales
|
27,300.6
|
|
24,951.1
|
|
9.4
|
|
Operating Segment Income 2
|
4Q 2016
|
Margin %
|
4Q 2015
|
Margin %
|
Change %
|
|
Content
|
4,767.8
|
40.8
|
4,555.0
|
42.3
|
4.7
|
|
Sky
|
2,423.8
|
44.0
|
2,217.1
|
44.2
|
9.3
|
|
Cable
|
3,346.2
|
40.3
|
3,010.1
|
39.8
|
11.2
|
|
Other Businesses
|
368.1
|
13.2
|
144.5
|
6.3
|
154.7
|
|
Operating Segment Income
|
10,905.9
|
38.5
|
9,926.7
|
38.7
|
9.9
|
|
Corporate Expenses
|
(593.9)
|
(2.1)
|
(539.9)
|
(2.1)
|
(10.0)
|
|
Depreciation and Amortization
|
(4,469.5)
|
(16.4)
|
(3,921.1)
|
(15.7)
|
(14.0)
|
|
Other Expense, net
|
(1,121.5)
|
(4.1)
|
(363.4)
|
(1.5)
|
(208.6)
|
|
Operating Income
|
4,721.0
|
17.3
|
5,102.3
|
20.4
|
(7.5)
|
|
Ticker:
|
TLEVISA
|
|
Period covered by financial statements:
|
2016-01-01 to 2016-12-31
|
|
Date of end of reporting period:
|
2016-12-31
|
|
Name of reporting entity or other means of identification:
|
TLEVISA
|
|
Description of presentation currency:
|
MXN
|
|
Level of rounding used in financial statements:
|
THOUSANDS OF MEXICAN PESOS
|
|
Consolidated:
|
Yes
|
|
Number of quarter:
|
4
|
|
Type of issuer:
|
ICS
|
|
Explanation of change in name of reporting entity or other means of identification from end of preceding reporting period:
|
|
|
Description of nature of financial statements:
|
|
Concept
|
Close Current Quarter
2016-12-31
|
Close Previous Exercise
2015-12-31
|
|
Statement of financial position
|
||
|
Assets
|
||
|
Current assets
|
||
|
Cash and cash equivalents
|
47,546,083,000
|
49,397,126,000
|
|
Trade and other current receivables
|
31,199,227,000
|
26,230,384,000
|
|
Current tax assets, current
|
3,292,941,000
|
1,962,709,000
|
|
Other current financial assets
|
5,498,219,000
|
5,330,448,000
|
|
Current inventories
|
1,899,078,000
|
1,628,276,000
|
|
Current biological assets
|
0
|
0
|
|
Other current non-financial assets
|
[1] 6,533,173,000
|
5,389,133,000
|
|
Total current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
95,968,721,000
|
89,938,076,000
|
|
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners
|
0
|
0
|
|
Total current assets
|
95,968,721,000
|
89,938,076,000
|
|
Non-current assets
|
||
|
Trade and other non-current receivables
|
0
|
0
|
|
Current tax assets, non-current
|
0
|
0
|
|
Non-current inventories
|
0
|
0
|
|
Non-current biological assets
|
0
|
0
|
|
Other non-current financial assets
|
43,516,390,000
|
41,081,474,000
|
|
Investments accounted for using equity method
|
0
|
0
|
|
Investments in subsidiaries, joint ventures and associates
|
12,092,254,000
|
9,271,901,000
|
|
Property, plant and equipment
|
86,783,572,000
|
76,089,277,000
|
|
Investment property
|
0
|
0
|
|
Goodwill
|
14,112,626,000
|
14,112,626,000
|
|
Intangible assets other than goodwill
|
23,511,922,000
|
23,993,699,000
|
|
Deferred tax assets
|
22,729,580,000
|
17,665,086,000
|
|
Other non-current non-financial assets
|
[2] 8,167,954,000
|
9,321,615,000
|
|
Total non-current assets
|
210,914,298,000
|
191,535,678,000
|
|
Total assets
|
306,883,019,000
|
281,473,754,000
|
|
Equity and liabilities
|
||
|
Liabilities
|
||
|
Current liabilities
|
||
|
Trade and other current payables
|
50,926,585,000
|
42,626,166,000
|
|
Current tax liabilities, current
|
2,012,536,000
|
1,632,795,000
|
|
Other current financial liabilities
|
4,456,175,000
|
4,677,026,000
|
|
Other current non-financial liabilities
|
0
|
0
|
|
Current provisions
|
||
|
Current provisions for employee benefits
|
0
|
0
|
|
Other current provisions
|
30,767,000
|
42,063,000
|
|
Total current provisions
|
30,767,000
|
42,063,000
|
|
Total current liabilities other than liabilities included in disposal groups classified as held for sale
|
57,426,063,000
|
48,978,050,000
|
|
Liabilities included in disposal groups classified as held for sale
|
0
|
0
|
|
Total current liabilities
|
57,426,063,000
|
48,978,050,000
|
|
Non-current liabilities
|
||
|
Trade and other non-current payables
|
2,413,301,000
|
3,225,755,000
|
|
Current tax liabilities, non-current
|
6,386,877,000
|
6,338,078,000
|
|
Other non-current financial liabilities
|
135,619,102,000
|
112,949,983,000
|
|
Other non-current non-financial liabilities
|
0
|
0
|
|
Non-current provisions
|
||
|
Non-current provisions for employee benefits
|
520,473,000
|
407,179,000
|
|
Other non-current provisions
|
54,799,000
|
52,884,000
|
|
Total non-current provisions
|
575,272,000
|
460,063,000
|
|
Deferred tax liabilities
|
9,668,696,000
|
10,000,048,000
|
|
Total non-current liabilities
|
154,663,248,000
|
132,973,927,000
|
|
Total liabilities
|
212,089,311,000
|
181,951,977,000
|
|
Equity
|
||
|
Issued capital
|
4,978,126,000
|
4,978,126,000
|
|
Share premium
|
15,889,819,000
|
15,889,819,000
|
|
Treasury shares
|
11,551,716,000
|
11,882,248,000
|
|
Retained earnings
|
70,513,903,000
|
73,139,684,000
|
|
Other reserves
|
2,374,092,000
|
5,257,554,000
|
|
Total equity attributable to owners of parent
|
82,204,224,000
|
87,382,935,000
|
|
Non-controlling interests
|
12,589,484,000
|
12,138,842,000
|
|
Total equity
|
94,793,708,000
|
99,521,777,000
|
|
Total equity and liabilities
|
306,883,019,000
|
281,473,754,000
|
|
Concept
|
Accumulated Current Year
2016-01-01 - 2016-12-31
|
Accumulated Previous Year
2015-01-01 - 2015-12-31
|
Quarter Current Year
2016-10-01 - 2016-12-31
|
Quarter Previous Year
2015-10-01 - 2015-12-31
|
|
Profit or loss
|
||||
|
Profit (loss)
|
||||
|
Revenue
|
96,287,363,000
|
88,051,829,000
|
27,300,650,000
|
24,951,128,000
|
|
Cost of sales
|
52,377,790,000
|
47,226,544,000
|
14,844,723,000
|
13,329,830,000
|
|
Gross profit
|
43,909,573,000
|
40,825,285,000
|
12,455,927,000
|
11,621,298,000
|
|
Distribution costs
|
10,900,695,000
|
9,716,244,000
|
3,107,597,000
|
2,897,392,000
|
|
Administrative expenses
|
13,273,397,000
|
12,035,439,000
|
3,505,859,000
|
3,258,205,000
|
|
Other income
|
0
|
0
|
0
|
0
|
|
Other expense
|
3,137,384,000
|
328,477,000
|
1,121,439,000
|
363,435,000
|
|
Profit (loss) from operating activities
|
16,598,097,000
|
18,745,125,000
|
4,721,032,000
|
5,102,266,000
|
|
Finance income
|
1,499,473,000
|
8,542,542,000
|
324,809,000
|
261,867,000
|
|
Finance costs
|
11,031,585,000
|
8,665,398,000
|
3,441,911,000
|
2,208,849,000
|
|
Share of profit (loss) of associates and joint ventures accounted for using equity method
|
1,139,604,000
|
35,399,000
|
226,460,000
|
303,636,000
|
|
Profit (loss) before tax
|
8,205,589,000
|
18,657,668,000
|
1,830,390,000
|
3,458,920,000
|
|
Tax income (expense)
|
2,872,235,000
|
6,332,218,000
|
624,645,000
|
1,471,752,000
|
|
Profit (loss) from continuing operations
|
5,333,354,000
|
12,325,450,000
|
1,205,745,000
|
1,987,168,000
|
|
Profit (loss) from discontinued operations
|
0
|
0
|
0
|
0
|
|
Profit (loss)
|
5,333,354,000
|
12,325,450,000
|
1,205,745,000
|
1,987,168,000
|
|
Profit (loss), attributable to
|
||||
|
Profit (loss), attributable to owners of parent
|
3,721,406,000
|
10,899,135,000
|
642,964,000
|
1,571,205,000
|
|
Profit (loss), attributable to non-controlling interests
|
1,611,948,000
|
1,426,315,000
|
562,781,000
|
415,963,000
|
|
Earnings per share
|
||||
|
Earnings per share
|
||||
|
Earnings per share
|
||||
|
Basic earnings per share
|
||||
|
Basic earnings (loss) per share from continuing operations
|
1.28
|
3.77
|
0.21
|
0.54
|
|
Basic earnings (loss) per share from discontinued operations
|
0
|
0
|
0
|
0
|
|
Total basic earnings (loss) per share
|
1.28
|
3.77
|
[3] 0.21
|
0.54
|
|
Diluted earnings per share
|
||||
|
Diluted earnings (loss) per share from continuing operations
|
1.2
|
3.52
|
0.21
|
0.51
|
|
Diluted earnings (loss) per share from discontinued operations
|
0
|
0
|
0
|
0
|
|
Total diluted earnings (loss) per share
|
1.2
|
3.52
|
[4] 0.21
|
0.51
|
|
Concept
|
Accumulated Current Year
2016-01-01 - 2016-12-31
|
Accumulated Previous Year
2015-01-01 - 2015-12-31
|
Quarter Current Year
2016-10-01 - 2016-12-31
|
Quarter Previous Year
2015-10-01 - 2015-12-31
|
|
Statement of comprehensive income
|
||||
|
Profit (loss)
|
5,333,354,000
|
12,325,450,000
|
1,205,745,000
|
1,987,168,000
|
|
Other comprehensive income
|
||||
|
Components of other comprehensive income that will not be reclassified to profit or loss, net of tax
|
||||
|
Other comprehensive income, net of tax, gains (losses) from investments in equity instruments
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, gains (losses) on revaluation
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans
|
(255,713,000)
|
(166,044,000)
|
(255,713,000)
|
(166,044,000)
|
|
Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, gains (losses) on hedging instruments that hedge investments in equity instruments
|
0
|
0
|
0
|
0
|
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will not be reclassified to profit or loss, net of tax
|
0
|
0
|
0
|
0
|
|
Total other comprehensive income that will not be reclassified to profit or loss, net of tax
|
(255,713,000)
|
(166,044,000)
|
(255,713,000)
|
(166,044,000)
|
|
Components of other comprehensive income that will be reclassified to profit or loss, net of tax
|
||||
|
Exchange differences on translation
|
||||
|
Gains (losses) on exchange differences on translation, net of tax
|
1,123,994,000
|
705,474,000
|
271,179,000
|
171,358,000
|
|
Reclassification adjustments on exchange differences on translation, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, exchange differences on translation
|
1,123,994,000
|
705,474,000
|
271,179,000
|
171,358,000
|
|
Available-for-sale financial assets
|
||||
|
Gains (losses) on remeasuring available-for-sale financial assets, net of tax
|
(4,155,136,000)
|
(920,759,000)
|
(3,859,392,000)
|
2,240,563,000
|
|
Reclassification adjustments on available-for-sale financial assets, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, available-for-sale financial assets
|
(4,155,136,000)
|
(920,759,000)
|
(3,859,392,000)
|
2,240,563,000
|
|
Cash flow hedges
|
||||
|
Gains (losses) on cash flow hedges, net of tax
|
552,445,000
|
18,087,000
|
331,014,000
|
20,590,000
|
|
Reclassification adjustments on cash flow hedges, net of tax
|
0
|
0
|
0
|
0
|
|
Amounts removed from equity and included in carrying amount of non-financial asset (liability) whose acquisition or incurrence was hedged highly probable forecast transaction, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, cash flow hedges
|
552,445,000
|
18,087,000
|
331,014,000
|
20,590,000
|
|
Hedges of net investment in foreign operations
|
||||
|
Gains (losses) on hedges of net investments in foreign operations, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on hedges of net investments in foreign operations, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, hedges of net investments in foreign operations
|
0
|
0
|
0
|
0
|
|
Change in value of time value of options
|
||||
|
Gains (losses) on change in value of time value of options, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on change in value of time value of options, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, change in value of time value of options
|
0
|
0
|
0
|
0
|
|
Change in value of forward elements of forward contracts
|
||||
|
Gains (losses) on change in value of forward elements of forward contracts, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on change in value of forward elements of forward contracts, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, change in value of forward elements of forward contracts
|
0
|
0
|
0
|
0
|
|
Change in value of foreign currency basis spreads
|
||||
|
Gains (losses) on change in value of foreign currency basis spreads, net of tax
|
0
|
0
|
0
|
0
|
|
Reclassification adjustments on change in value of foreign currency basis spreads, net of tax
|
0
|
0
|
0
|
0
|
|
Other comprehensive income, net of tax, change in value of foreign currency basis spreads
|
0
|
0
|
0
|
0
|
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of tax
|
(42,832,000)
|
19,705,000
|
(25,443,000)
|
17,313,000
|
|
Total other comprehensive income that will be reclassified to profit or loss, net of tax
|
(2,521,529,000)
|
(177,493,000)
|
(3,282,642,000)
|
2,449,824,000
|
|
Total other comprehensive income
|
(2,777,242,000)
|
(343,537,000)
|
(3,538,355,000)
|
2,283,780,000
|
|
Total comprehensive income
|
2,556,112,000
|
11,981,913,000
|
(2,332,610,000)
|
4,270,948,000
|
|
Comprehensive income attributable to
|
||||
|
Comprehensive income, attributable to owners of parent
|
837,944,000
|
10,477,626,000
|
(2,935,099,000)
|
3,846,383,000
|
|
Comprehensive income, attributable to non-controlling interests
|
1,718,168,000
|
1,504,287,000
|
602,489,000
|
424,565,000
|
|
Concept
|
Accumulated Current Year
2016-01-01 - 2016-12-31
|
Accumulated Previous Year
2015-01-01 - 2015-12-31
|
|
Statement of cash flows
|
||
|
Cash flows from (used in) operating activities
|
||
|
Profit (loss)
|
5,333,354,000
|
12,325,450,000
|
|
Adjustments to reconcile profit (loss)
|
||
|
Discontinued operations
|
0
|
0
|
|
Adjustments for income tax expense
|
2,872,235,000
|
6,332,218,000
|
|
Adjustments for finance costs
|
0
|
0
|
|
Adjustments for depreciation and amortisation expense
|
16,979,833,000
|
14,660,929,000
|
|
Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss
|
6,851,000
|
131,065,000
|
|
Adjustments for provisions
|
2,499,472,000
|
2,707,722,000
|
|
Adjustments for unrealised foreign exchange losses (gains)
|
6,707,831,000
|
4,032,871,000
|
|
Adjustments for share-based payments
|
1,410,492,000
|
1,199,489,000
|
|
Adjustments for fair value losses (gains)
|
43,370,000
|
(6,180,259,000)
|
|
Adjustments for undistributed profits of associates
|
0
|
0
|
|
Adjustments for losses (gains) on disposal of non-current assets
|
1,448,295,000
|
688,706,000
|
|
Participation in associates and joint ventures
|
(1,139,604,000)
|
(35,399,000)
|
|
Adjustments for decrease (increase) in inventories
|
(99,002,000)
|
1,169,751,000
|
|
Adjustments for decrease (increase) in trade accounts receivable
|
(4,649,477,000)
|
(2,120,569,000)
|
|
Adjustments for decrease (increase) in other operating receivables
|
(1,554,486,000)
|
(349,801,000)
|
|
Adjustments for increase (decrease) in trade accounts payable
|
5,255,698,000
|
63,873,000
|
|
Adjustments for increase (decrease) in other operating payables
|
211,387,000
|
588,955,000
|
|
Other adjustments for non-cash items
|
0
|
0
|
|
Other adjustments for which cash effects are investing or financing cash flow
|
312,000
|
(2,271,277,000)
|
|
Straight-line rent adjustment
|
0
|
0
|
|
Amortization of lease fees
|
0
|
0
|
|
Setting property values
|
0
|
0
|
|
Other adjustments to reconcile profit (loss)
|
351,241,000
|
304,860,000
|
|
Total adjustments to reconcile profit (loss)
|
30,344,448,000
|
20,923,134,000
|
|
Net cash flows from (used in) operations
|
35,677,802,000
|
33,248,584,000
|
|
Dividends paid
|
0
|
0
|
|
Dividends received
|
0
|
0
|
|
Interest paid
|
(8,497,919,000)
|
(6,239,387,000)
|
|
Interest received
|
(458,528,000)
|
(378,736,000)
|
|
Income taxes refund (paid)
|
7,268,938,000
|
7,823,659,000
|
|
Other inflows (outflows) of cash
|
0
|
0
|
|
Net cash flows from (used in) operating activities
|
36,448,255,000
|
31,285,576,000
|
|
Cash flows from (used in) investing activities
|
||
|
Cash flows from losing control of subsidiaries or other businesses
|
0
|
10,412,148,000
|
|
Cash flows used in obtaining control of subsidiaries or other businesses
|
42,933,000
|
10,181,851,000
|
|
Other cash receipts from sales of equity or debt instruments of other entities
|
0
|
0
|
|
Other cash payments to acquire equity or debt instruments of other entities
|
0
|
0
|
|
Other cash receipts from sales of interests in joint ventures
|
0
|
0
|
|
Other cash payments to acquire interests in joint ventures
|
0
|
0
|
|
Proceeds from sales of property, plant and equipment
|
1,571,211,000
|
565,552,000
|
|
Purchase of property, plant and equipment
|
27,941,585,000
|
25,524,145,000
|
|
Proceeds from sales of intangible assets
|
0
|
0
|
|
Purchase of intangible assets
|
2,360,488,000
|
1,553,801,000
|
|
Proceeds from sales of other long-term assets
|
0
|
0
|
|
Purchase of other long-term assets
|
0
|
0
|
|
Proceeds from government grants
|
0
|
0
|
|
Cash advances and loans made to other parties
|
0
|
0
|
|
Cash receipts from repayment of advances and loans made to other parties
|
0
|
0
|
|
Cash payments for future contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
|
Cash receipts from future contracts, forward contracts, option contracts and swap contracts
|
0
|
0
|
|
Dividends received
|
0
|
0
|
|
Interest paid
|
0
|
0
|
|
Interest received
|
0
|
0
|
|
Income taxes refund (paid)
|
0
|
0
|
|
Other inflows (outflows) of cash
|
(114,979,000)
|
2,500,537,000
|
|
Net cash flows from (used in) investing activities
|
(28,888,774,000)
|
(23,781,560,000)
|
|
Cash flows from (used in) financing activities
|
||
|
Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control
|
0
|
0
|
|
Payments from changes in ownership interests in subsidiaries that do not result in loss of control
|
2,379,424,000
|
0
|
|
Proceeds from issuing shares
|
0
|
0
|
|
Proceeds from issuing other equity instruments
|
0
|
0
|
|
Payments to acquire or redeem entity’s shares
|
1,908,056,000
|
733,831,000
|
|
Payments of other equity instruments
|
0
|
0
|
|
Proceeds from borrowings
|
5,728,498,000
|
27,097,067,000
|
|
Repayments of borrowings
|
3,622,600,000
|
6,788,941,000
|
|
Payments of finance lease liabilities
|
329,064,000
|
405,151,000
|
|
Proceeds from government grants
|
0
|
0
|
|
Dividends paid
|
1,084,192,000
|
1,084,192,000
|
|
Interest paid
|
7,633,026,000
|
5,938,679,000
|
|
Income taxes refund (paid)
|
0
|
0
|
|
Other inflows (outflows) of cash
|
1,333,952,000
|
(113,348,000)
|
|
Net cash flows from (used in) financing activities
|
(9,893,912,000)
|
12,032,925,000
|
|
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes
|
(2,334,431,000)
|
19,536,941,000
|
|
Effect of exchange rate changes on cash and cash equivalents
|
||
|
Effect of exchange rate changes on cash and cash equivalents
|
483,388,000
|
130,835,000
|
|
Net increase (decrease) in cash and cash equivalents
|
(1,851,043,000)
|
19,667,776,000
|
|
Cash and cash equivalents at beginning of period
|
49,397,126,000
|
29,729,350,000
|
|
Cash and cash equivalents at end of period
|
47,546,083,000
|
49,397,126,000
|
|
Components of equity
|
|||||||||
|
Sheet 1 of 3
|
Issued capital
|
Share premium
|
Treasury shares
|
Retained earnings
|
Revaluation surplus
|
Reserve of exchange differences on translation
|
Reserve of cash flow hedges
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
Reserve of change in value of time value of options
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
4,978,126,000
|
15,889,819,000
|
11,882,248,000
|
73,139,684,000
|
0
|
972,154,000
|
(153,264,000)
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
3,721,406,000
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
1,017,010,000
|
552,445,000
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
0
|
3,721,406,000
|
0
|
1,017,010,000
|
552,445,000
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
1,084,192,000
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
(6,324,997,000)
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
(330,532,000)
|
1,062,002,000
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
(330,532,000)
|
(2,625,781,000)
|
0
|
1,017,010,000
|
552,445,000
|
0
|
0
|
|
Equity at end of period
|
4,978,126,000
|
15,889,819,000
|
11,551,716,000
|
70,513,903,000
|
0
|
1,989,164,000
|
399,181,000
|
0
|
0
|
|
Components of equity
|
|||||||||
|
Sheet 2 of 3
|
Reserve of change in value of forward elements of forward contracts
|
Reserve of change in value of foreign currency basis spreads
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
Reserve of share-based payments
|
Reserve of remeasurements of defined benefit plans
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal groups held for sale
|
Reserve of gains and losses from investments in equity instruments
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
Reserve for catastrophe
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
0
|
0
|
4,254,280,000
|
0
|
(126,845,000)
|
0
|
0
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
(4,155,136,000)
|
0
|
(254,949,000)
|
0
|
0
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
(4,155,136,000)
|
0
|
(254,949,000)
|
0
|
0
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
(4,155,136,000)
|
0
|
(254,949,000)
|
0
|
0
|
0
|
0
|
|
Equity at end of period
|
0
|
0
|
99,144,000
|
0
|
(381,794,000)
|
0
|
0
|
0
|
0
|
|
Components of equity
|
|||||||
|
Sheet 3 of 3
|
Reserve for equalisation
|
Reserve of discretionary participation features
|
Other comprehensive income
|
Other reserves
|
Equity attributable to owners of parent
|
Non-controlling interests
|
Equity
|
|
Statement of changes in equity
|
|||||||
|
Equity at beginning of period
|
0
|
0
|
311,229,000
|
5,257,554,000
|
87,382,935,000
|
12,138,842,000
|
99,521,777,000
|
|
Changes in equity
|
|||||||
|
Comprehensive income
|
|||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
3,721,406,000
|
1,611,948,000
|
5,333,354,000
|
|
Other comprehensive income
|
0
|
0
|
(42,832,000)
|
(2,883,462,000)
|
(2,883,462,000)
|
106,220,000
|
(2,777,242,000)
|
|
Total comprehensive income
|
0
|
0
|
(42,832,000)
|
(2,883,462,000)
|
837,944,000
|
1,718,168,000
|
2,556,112,000
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
1,084,192,000
|
463,417,000
|
1,547,609,000
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
318,000
|
318,000
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
(6,324,997,000)
|
(804,427,000)
|
(7,129,424,000)
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
1,392,534,000
|
0
|
1,392,534,000
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
(42,832,000)
|
(2,883,462,000)
|
(5,178,711,000)
|
450,642,000
|
(4,728,069,000)
|
|
Equity at end of period
|
0
|
0
|
268,397,000
|
2,374,092,000
|
82,204,224,000
|
12,589,484,000
|
94,793,708,000
|
|
Components of equity
|
|||||||||
|
Sheet 1 of 3
|
Issued capital
|
Share premium
|
Treasury shares
|
Retained earnings
|
Revaluation surplus
|
Reserve of exchange differences on translation
|
Reserve of cash flow hedges
|
Reserve of gains and losses on hedging instruments that hedge investments in equity instruments
|
Reserve of change in value of time value of options
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
4,978,126,000
|
15,889,819,000
|
12,647,475,000
|
62,905,444,000
|
0
|
348,429,000
|
(171,351,000)
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
10,899,135,000
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
0
|
0
|
0
|
623,725,000
|
18,087,000
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
0
|
10,899,135,000
|
0
|
623,725,000
|
18,087,000
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
1,084,192,000
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
(765,227,000)
|
419,297,000
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
(765,227,000)
|
10,234,240,000
|
0
|
623,725,000
|
18,087,000
|
0
|
0
|
|
Equity at end of period
|
4,978,126,000
|
15,889,819,000
|
11,882,248,000
|
73,139,684,000
|
0
|
972,154,000
|
(153,264,000)
|
0
|
0
|
|
Components of equity
|
|||||||||
|
Sheet 2 of 3
|
Reserve of change in value of forward elements of forward contracts
|
Reserve of change in value of foreign currency basis spreads
|
Reserve of gains and losses on remeasuring available-for-sale financial assets
|
Reserve of share-based payments
|
Reserve of remeasurements of defined benefit plans
|
Amount recognised in other comprehensive income and accumulated in equity relating to non-current assets or disposal groups held for sale
|
Reserve of gains and losses from investments in equity instruments
|
Reserve of change in fair value of financial liability attributable to change in credit risk of liability
|
Reserve for catastrophe
|
|
Statement of changes in equity
|
|||||||||
|
Equity at beginning of period
|
0
|
0
|
5,175,039,000
|
0
|
35,422,000
|
0
|
0
|
0
|
0
|
|
Changes in equity
|
|||||||||
|
Comprehensive income
|
|||||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other comprehensive income
|
0
|
0
|
(920,759,000)
|
0
|
(162,267,000)
|
0
|
0
|
0
|
0
|
|
Total comprehensive income
|
0
|
0
|
(920,759,000)
|
0
|
(162,267,000)
|
0
|
0
|
0
|
0
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
(920,759,000)
|
0
|
(162,267,000)
|
0
|
0
|
0
|
0
|
|
Equity at end of period
|
0
|
0
|
4,254,280,000
|
0
|
(126,845,000)
|
0
|
0
|
0
|
0
|
|
Components of equity
|
|||||||
|
Sheet 3 of 3
|
Reserve for equalisation
|
Reserve of discretionary participation features
|
Other comprehensive income
|
Other reserves
|
Equity attributable to owners of parent
|
Non-controlling interests
|
Equity
|
|
Statement of changes in equity
|
|||||||
|
Equity at beginning of period
|
0
|
0
|
291,524,000
|
5,679,063,000
|
76,804,977,000
|
11,110,104,000
|
87,915,081,000
|
|
Changes in equity
|
|||||||
|
Comprehensive income
|
|||||||
|
Profit (loss)
|
0
|
0
|
0
|
0
|
10,899,135,000
|
1,426,315,000
|
12,325,450,000
|
|
Other comprehensive income
|
0
|
0
|
19,705,000
|
(421,509,000)
|
(421,509,000)
|
77,972,000
|
(343,537,000)
|
|
Total comprehensive income
|
0
|
0
|
19,705,000
|
(421,509,000)
|
10,477,626,000
|
1,504,287,000
|
11,981,913,000
|
|
Issue of equity
|
0
|
0
|
0
|
0
|
0
|
(95,500,000)
|
(95,500,000)
|
|
Dividends recognised as distributions to owners
|
0
|
0
|
0
|
0
|
1,084,192,000
|
379,639,000
|
1,463,831,000
|
|
Increase through other contributions by owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Decrease through other distributions to owners, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through other changes, equity
|
0
|
0
|
0
|
0
|
0
|
(410,000)
|
(410,000)
|
|
Increase (decrease) through treasury share transactions, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Increase (decrease) through share-based payment transactions, equity
|
0
|
0
|
0
|
0
|
1,184,524,000
|
0
|
1,184,524,000
|
|
Amount removed from reserve of cash flow hedges and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of time value of options and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of forward elements of forward contracts and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Amount removed from reserve of change in value of foreign currency basis spreads and included in initial cost or other carrying amount of non-financial asset (liability) or firm commitment for which fair value hedge accounting is applied
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total increase (decrease) in equity
|
0
|
0
|
19,705,000
|
(421,509,000)
|
10,577,958,000
|
1,028,738,000
|
11,606,696,000
|
|
Equity at end of period
|
0
|
0
|
311,229,000
|
5,257,554,000
|
87,382,935,000
|
12,138,842,000
|
99,521,777,000
|
|
Concept
|
Close Current Quarter
2016-12-31
|
Close Previous Exercise
2015-12-31
|
|
Informative data of the Statement of Financial Position
|
||
|
Capital stock (nominal)
|
2,494,410,000
|
2,494,410,000
|
|
Restatement of capital stock
|
2,483,716,000
|
2,483,716,000
|
|
Plan assets for pensions and seniority premiums
|
1,934,424,000
|
2,035,168,000
|
|
Number of executives
|
72
|
77
|
|
Number of employees
|
42,216
|
43,887
|
|
Number of workers
|
0
|
0
|
|
Outstanding shares
|
341,268,344,274
|
338,468,382,759
|
|
Repurchased shares
|
21,161,542,857
|
23,961,504,372
|
|
Restricted cash
|
0
|
0
|
|
Guaranteed debt of associated companies
|
0
|
0
|
|
Concept
|
Accumulated Current Year
2016-01-01 - 2016-12-31
|
Accumulated Previous Year
2015-01-01 - 2015-12-31
|
Quarter Current Year
2016-10-01 - 2016-12-31
|
Quarter Previous Year
2015-10-01 - 2015-12-31
|
|
Informative data of the Income Statement
|
||||
|
Operating depreciation and amortization
|
16,979,833,000
|
14,660,929,000
|
4,469,491,000
|
3,921,106,000
|
|
Concept
|
Current Year
2016-01-01 - 2016-12-31
|
Previous Year
2015-01-01 - 2015-12-31
|
|
Informative data - Income Statement for 12 months
|
||
|
Revenue
|
96,287,363,000
|
88,051,829,000
|
|
Profit (loss) from operating activities
|
16,598,097,000
|
18,745,125,000
|
|
Profit (loss)
|
5,333,354,000
|
12,325,450,000
|
|
Profit (loss), attributable to owners of parent
|
3,721,406,000
|
10,899,135,000
|
|
Operating depreciation and amortization
|
16,979,833,000
|
14,660,929,000
|
|
Institution
|
Foreign institution (yes/no)
|
Contract signing date
|
Expiration date
|
Interest rate
|
Denomination
|
|||||||||||
|
Domestic currency
|
Foreign currency
|
|||||||||||||||
|
Time interval
|
Time interval
|
|||||||||||||||
|
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
Current year
|
Until 1 year
|
Until 2 years
|
Until 3 years
|
Until 4 years
|
Until 5 years or more
|
|||||
|
Banks
|
||||||||||||||||
|
Foreign trade
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Banks - secured
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Commercial banks
|
||||||||||||||||
|
BANCO MERCANTIL DEL NORTE, S.A.1
|
NO
|
2015-05-15
|
2022-04-30
|
TIIE+1.0
|
161,402,000
|
242,102,000
|
242,102,000
|
242,103,000
|
851,534,000
|
|||||||
|
HSBC 2
|
NO
|
2011-03-28
|
2018-03-30
|
TIIE+117.5
|
624,698,000
|
624,699,000
|
||||||||||
|
HSBC 3
|
NO
|
2013-05-29
|
2019-05-30
|
TIIE+1.25
|
64,848,000
|
64,848,000
|
196,208,000
|
|||||||||
|
HSBC 4
|
NO
|
2014-07-04
|
2019-07-04
|
TIIE+1.25
|
299,028,000
|
|||||||||||
|
BANCO SANTANDER 5
|
NO
|
2015-03-12
|
2020-05-07
|
TIIE+1.25
|
249,433,000
|
|||||||||||
|
BANCO SANTANDER 6
|
NO
|
2015-01-08
|
2019-09-10
|
TIIE+1.25
|
249,600,000
|
|||||||||||
|
HSBC 7
|
NO
|
2016-03-08
|
2023-03-08
|
7.13
|
2,500,000,000
|
|||||||||||
|
SCOTIABANK 8
|
NO
|
2016-03-08
|
2023-03-08
|
7
|
3,000,000,000
|
|||||||||||
|
TOTAL
|
NO
|
0
|
850,948,000
|
931,649,000
|
986,938,000
|
491,536,000
|
6,351,534,000
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Other banks
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Total banks
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
850,948,000
|
931,649,000
|
986,938,000
|
491,536,000
|
6,351,534,000
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Stock market
|
||||||||||||||||
|
Listed on stock exchange - unsecured
|
||||||||||||||||
|
SENIOR NOTES 1
|
SI
|
2007-05-09
|
2037-05-11
|
8.93
|
4,485,197,000
|
|||||||||||
|
CERTIFICADOS BURSATILES 1
|
NO
|
2010-10-14
|
2020-10-01
|
7.38
|
9,972,963,000
|
|||||||||||
|
SENIOR NOTES 2
|
SI
|
2013-05-14
|
2043-05-14
|
7.25
|
6,437,435,000
|
|||||||||||
|
CERTIFICADOS BURSATILES 2
|
NO
|
2014-04-07
|
2021-04-01
|
TIIE+0.35
|
5,991,035,000
|
|||||||||||
|
CERTIFICADOS BURSATILES 3
|
NO
|
2015-05-11
|
2022-05-02
|
TIIE+0.35
|
4,990,664,000
|
|||||||||||
|
SENIOR NOTES 3
|
SI
|
2008-05-06
|
2018-05-15
|
6.31
|
10,308,290,000
|
|||||||||||
|
SENIOR NOTES 4
|
SI
|
2005-03-18
|
2025-03-18
|
6.97
|
12,065,307,000
|
|||||||||||
|
SENIOR NOTES 5
|
SI
|
2002-03-11
|
2032-03-11
|
8.94
|
6,163,745,000
|
|||||||||||
|
SENIOR NOTES 6
|
SI
|
2009-11-23
|
2040-01-15
|
6.97
|
12,235,399,000
|
|||||||||||
|
SENIOR NOTES 7
|
SI
|
2014-05-13
|
2045-05-13
|
5
|
20,154,980,000
|
|||||||||||
|
SENIOR NOTES 8
|
SI
|
2015-11-24
|
2026-01-30
|
4.625
|
6,146,385,000
|
|||||||||||
|
SENIOR NOTES 9
|
SI
|
2015-11-24
|
2046-01-31
|
6.125
|
18,433,606,000
|
|||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
9,972,963,000
|
21,904,331,000
|
0
|
0
|
10,308,290,000
|
0
|
0
|
75,199,422,000
|
|||
|
Listed on stock exchange - secured
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Private placements - unsecured
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Private placements - secured
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||
|
Total listed on stock exchanges and private placements
|
||||||||||||||||
|
TOTAL
|
NO
|
0
|
0
|
0
|
0
|
9,972,963,000
|
21,904,331,000
|
0
|
0
|
10,308,290,000
|
0
|
0
|
75,199,422,000
|
|||
|
Other current and non-current liabilities with cost
|
||||||||||||||||
|
Other current and non-current liabilities with cost
|
||||||||||||||||
|
GRUPO DE TELECOMUNICACIONES DE ALTA CAPACIDAD 1
|
NO
|
2012-08-08
|
2020-07-01
|
91,142,000
|
94,506,000
|
97,359,000
|
100,597,000
|
|||||||||
|
GE CAPITAL CFE MÉXICO, S. DE R.L. DE C.V. 1
|
NO
|
2014-07-01
|
2020-01-01
|
26,290,000
|
25,446,000
|
17,102,000
|
278,000
|
|||||||||
|
ALD AUTOMOTIVE, S.A. DE C.V. 1
|
NO
|
2013-12-01
|
||||||||||||||