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TOTAL PLAY ANNOUNCES REVENUE OF Ps.8,897 MILLION AND EBITDA OF Ps.3,805 MILLION IN THE SECOND QUARTER OF 2022
[July 28, 2022]

TOTAL PLAY ANNOUNCES REVENUE OF Ps.8,897 MILLION AND EBITDA OF Ps.3,805 MILLION IN THE SECOND QUARTER OF 2022


MEXICO CITY, July 28, 2022 /PRNewswire/ -- Total Play Telecomunicaciones, S.A.P.I. de C.V. ("Total Play"), a leading telecommunications company in Mexico, which offers internet access, pay television and telephone services, through one of the largest 100% fiber optic networks in the country, today announced financial results for the second quarter of 2022.

Second quarter results

Revenue for the quarter totaled Ps.8,897 million, compared to Ps.6,839 million from the previous year. Total costs and expenses were Ps.5,092 million, from Ps.3,882 million a year ago.

As a result, Total Play's EBITDA totaled Ps.3,805 million, from Ps.2,957 million in the previous year. The company posted an operating profit of Ps.734 million, compared to Ps.884 million a year ago. Total Play reported a net loss of Ps.447 million, from a profit of Ps.560 million in the same period of 2021.

Revenue from services

The growth in the company's revenue in the period results from an increase in sales in the residential segment, due to greater demand from households for Total Play's telecommunications services. The number of residential users at the end of the quarter was 4 million, compared to 2.9 million a year ago.

Costs and expenses

Total costs and expenses grew 31%, as a result of a 22% increase in service costs and a 38% increase in general expenses. The growth in costs, to Ps.2,006 million, from Ps.1,646 million in the previous year, results mainly from the purchase of content, memberships, licenses for the operation of the network and leasing of connection links.

The increase in expenses, to Ps.3,086 million, from Ps.2,236 million, reflects higher expenses for services, advertising and promotion, maintenance, as well as call center, in the context of growing operations at the company.

EBITDA and net result

Total Play's EBITDA was Ps.3,805 million compared to Ps.2,957 million in the previous year.

The main variations below EBITDA were as follows:

Growth of Ps.998 million in depreciation and amortization, as a result of subscriber acquisition costs — telecommunications equipment, labor and installation expenses — as well as investments in fiber optic network coverage.

Increase of Ps.358 million in interest expense, derived mainly from growth in long-term financial debt.

Decrease of Ps.308 million in foreign exchange gain in the period, as a result of the net liability monetary position in foreign currency, together with a lower appreciation of the exchange rate of the peso against the basket of currencies in which the monetary liabilities of the company are denominated this quarter, compared to the previous year.

Total Play reported a net loss of Ps.447 million, from a net income of Ps.560 million in the same period of 2021.

Balance sheet

As of June 30, 2022, the company's debt with cost was Ps.44,287 million, compared to Ps.30,121 million in the previous year.

The growth of the debt balance is mainly related to the issuance of Senior Notes in international markets for US$600 million, in September 2021.

The lease liability was Ps.5,941 million, compared to Ps.4,576 million in the previous year.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community wellbeing; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

 






Investor Relations:





Bruno Rangel

Rolando Villarreal

Samantha Pescador

+ 52 (55) 1720 9167

+ 52 (55) 1720 9167

+52 (55) 3032 3639

[email protected]

[email protected]

[email protected]





Press Relations:






Luciano Pascoe



Tel. +52 (55) 1720 1313 ext. 36553



[email protected]



 

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I.  DE C.V. AND SUBSIDIARIES

CONSOLIDATED QUARTERLY INCOME STATEMENTS

(Millions of Mexican pesos)




















2Q21


2Q22


Change


$

%


$

%


$

%










Revenue from services

6,839

100%


8,897

100%


2,058

30%










Cost of services

(1,646)

(24%)


(2,006)

(23%)


(360)

(22%)










Gross profit

5,193

76%


6,891

77%


1,698

33%










General expenses

(2,236)

(33%)


(3,086)

(35%)


(850)

(38%)










EBITDA

2,957

43%


3,805

43%


848

29%










Depreciation and amortization

(2,073)

(30%)


(3,071)

(35%)


(998)

(48%)










Operating profit (loss)

884

13%


734

8%


(150)

(17%)










Financial cost:









Interest revenue

7

0%


24

0%


17

243%

Accrued interest expense

(610)

(9%)


(968)

(11%)


(358)

(59%)

Other financial (expenses) income - Net

(81)

(1%)


35

0%


116

143%

Foreign exchange (loss) gain - Net

368

5%


60

1%


(308)

84%










Profit (loss) before income tax provision

568

8%


(115)

(1%)


(683)

120%










Income tax provision

(8)

(0%)


(332)

(4%)


(324)

na










Net income (loss) for the period

560

8%


(447)

(5%)


(1,007)

180%

 

 

 











TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES


CONSOLIDATED ACCUMULATED INCOME STATEMENTS


(Millions of Mexican pesos)












Accumulated


Accumulated






6M21


6M22


Change



$

%


$

%


$

%












Revenue from services

13,195

100%


17,313

100%


4,118

31%












Cost of services

(3,273)

(25%)


(3,876)

(22%)


(603)

(18%)












Gross profit

9,922

75%


13,437

78%


3,515

35%












General expenses

(4,289)

(33%)


(5,904)

(34%)


(1,615)

(38%)












EBITDA

5,633

43%


7,533

44%


1,900

34%












Depreciation and amortization

(4,092)

(31%)


(5,823)

(34%)


(1,731)

(42%)


Other income (expenses) - Net

1

0%


-

0%


(1)

na












Operating profit

1,542

12%


1,710

10%


168

11%












Financial cost:










Interest revenue

21

0%


38

0%


17

81%


Accrued interest expense

(1,172)

(9%)


(1,882)

(11%)


(710)

(61%)


Other financial expenses

(124)

(1%)


(103)

(1%)


21

17%


Foreign exchange gain (loss) - Net

94

1%


802

5%


708

0%












Profit (loss) before income tax provision

361

3%


565

3%


204

(57%)












Income tax provision

(17)

(0%)


(535)

(3%)


(518)

na












Net income (loss) for the period

344

3%


30

0%


(314)

91%


 

 

 












TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Millions of Mexican pesos)















As of June 30,







2021



2022



Change




$

%


$

%


$

%


Assets











CURRENT ASSETS











Cash and cash 


1,130

2%


1,688

2%


558

49%


Restricted cash in trusts


1,081

2%


1,829

2%


748

69%


Customers - net


2,840

5%


4,960

7%


2,120

75%


Other receivables and recoverable taxes


3,925

7%


3,974

5%


49

1%


Inventories


1,518

3%


2,379

3%


861

57%


Prepaid expenses


372

1%


698

1%


326

88%


Total current assets


10,866

20%


15,528

21%


4,662

43%













NON-CURRENT ASSETS











Property, plant and equipmente - Net


37,797

70%


52,019

70%


14,222

38%


Rights-of-use assets -Net


4,174

8%


5,590

7%


1,416

34%


Other non-current assets


1,504

3%


1,620

2%


116

8%


Total non-current assets


43,475

80%


59,229

79%


15,754

36%


Total assets


54,341

100%


74,757

100%


20,416

38%













Liabilities and Stockholders' Equity











SHORT-TERM LIABILITIES











Short-term financial debt


1,230

2%


4,569

6%


3,339

271%


Trade payables


8,456

16%


10,452

14%


1,996

24%


Other payables and taxes


2,520

5%


4,194

6%


1,674

66%


Derivative financial instruments


137

0%


336

0%


199

n.m.


Lease liabilities


1,515

3%


1,737

2%


222

15%


Total short-term liabilities


13,858

26%


21,288

28%


7,430

54%













LONG-TERM LIABILITIES











Long-term financial debt


28,891

53%


39,718

53%


10,827

37%


Trade payables


20

0%


4

0%


(16)

(80%)


Other long-term payables


80

0%


981

1%


901

1126%


Lease liabilities


3,061

6%


4,204

6%


1,143

37%


Total long-term liabilities


32,052

59%


44,907

60%


12,855

40%


Total liabilities


45,910

84%


66,195

89%


20,285

44%













STOCKHOLDERS' EQUITY


8,431

16%


8,562

11%


131

2%


Total stockholders' equity and liabilities


54,341

100%


74,757

100%


20,416

38%


 

 







TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Millions of Mexican pesos)











Years ended 





June 30,





2021

2022

Operating activities:






(Loss) income before income tax provision



361

565

Items not requiring the use of resources:





   Depreciation and amortization



4,092

5,823

   Employee benefits




15

16

Items related to investing or financing activities:




    Accrued interest income




(21)

(38)

    Accrued interest expense and other financial transactions

1,172

1,882

Valuation of financial derivative instruments


(77)

557





5,542

8,805

Resources (used in) generated by operating activities:




   Customers and unearned revenue



(464)

(1,211)

   Other receivables




(21)

15

   Related parties, net




172

17

   Taxes to be recovered




(473)

353

   Inventories




104

(500)

  Advance payments




36

(231)

   Trade payables




244

1,128

   Other payables




372

533







Cash flows generated by operating activities


5,512

8,909







Investing activities: 






Acquisition of property, plant and equipment


(7,994)

(10,792)

Other assets




(7)

20

Collected interest




21

38







Cash flows (used in) investing activities



(7,980)

(10,734)







Financing activities:






Loans received




3,928

2,792

Leasing cash flows




(735)

(1,150)

Interest payment




(1,454)

(1,946)

Restricted Cash in Trusts




191

(943)

Reverse factoring




(119)

557

Capital contributions




-

37

contributions






Net cash flows generated by financing activities


1,811

(653)







Increase in cash and cash equivalents



(657)

(2,478)

Cash and cash equivalents at the beginning of the year 


1,787

4,166







Cash and cash equivalents at the end of the year 


1,130

1,688

 

 

 

Cision View original content:https://www.prnewswire.com/news-releases/total-play-announces-revenue-of-ps8-897-million-and-ebitda-of-ps3-805-million-in-the-second-quarter-of-2022--301595683.html

SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.


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