|
TOTAL PLAY ANNOUNCES REVENUE OF Ps.9,303 MILLION AND EBITDA OF Ps.4,055 MILLION IN THE THIRD QUARTER OF 2022
MEXICO CITY, Oct. 27, 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 third quarter of 2022.
Third quarter results
Revenue for the quarter totaled Ps.9,303 million, compared to Ps.7,270 million from the previous year. Total costs and expenses were Ps.5,248 million, from Ps.4,214 million a year ago.
As a result, Total Play's EBITDA totaled Ps.4,055 million, from Ps.3,056 million the previous year. The company registered operating income of Ps.640 million, compared to Ps.753 million a year ago. Total Play reported net loss of Ps.1,843 million, from loss of Ps.836 million in the same period of 2021.
Revenue from services
The growth in Total Play's revenue in the quarter is mainly the result of increased sales in the residential segment, due to higher demand from households for the company's telecommunications services. The continuous increase in Total Play´s income is reaffirmed this period despite intense competition in the industry — which affects market prices — and the normalization of face-to-face activities throughout the country. This shows the growing preference of users for the superior attributes of our internet, pay television and telephony services, which optimally satisfy the connectivity and entertainment needs of millions of homes.
Costs and expenses
Total costs and expenses grew 25%, as a result of a 21% increase in service costs and a 27% increase in general expenses. The growth in costs, to Ps.1,983 million, from Ps.1,635 million in the previous year, results mainly from the purchase of content, memberships, link rentals and other interconnection services and licenses for network operation.
The increase in expenses, to Ps.3,265 million, from Ps.2,579 million, reflects higher personnel, advertising and promotion, maintenance, as well as call center expenses, in the context of growing operations in the company.
EBITDA and net result
Total Play's EBITDA was Ps.4,055 million compared to Ps.3,056 million in the previous year.
Relevant variations below EBITDA were the following:
Growth of Ps.1,111 million in depreciation and amortization, as a result of user acquisition costs — telecommunications equipment, labor and installation expenses — as well as investments in fiber optic network coverage.
Increase of Ps.155 million in interest payments, derived mainly from an increase in the balance of financial debt.
Growth of Ps.122 million in other financial expenses as a result of those related to debt issuances and derivative financial instruments.
Increase of Ps.89 million in foreign exchange loss in the period, as a result of a higher net liability monetary position in dollars this period, compared to the previous year, together with depreciation of the peso against the dollar in both quarters.
Total Play reported a net loss of Ps.1,843 million, from a loss of Ps.836 million in the same period of 2021.
Balance sheet
As of September 30, 2022, the company's debt with cost was Ps.46,915 million, compared to Ps.40,671 million in the previous year. The growth of the debt balance is related to the issuance of Certificados Bursátiles and loans from financial institutions during the period.
The lease liability was Ps.6,485 million, compared to Ps.4,738 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:
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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3Q21
|
| 3Q22
|
| Change
|
|
| $
| %
|
| $
| %
|
| $
| %
|
|
|
|
|
|
|
|
|
|
|
| Revenue from services
| 7,270
| 100 %
|
| 9,303
| 100 %
|
| 2,033
| 28 %
|
|
|
|
|
|
|
|
|
|
|
| Cost of services
| (1,635)
| (22 %)
|
| (1,983)
| (21 %)
|
| (348)
| (21 %)
|
|
|
|
|
|
|
|
|
|
|
| Gross profit
| 5,635
| 78 %
|
| 7,320
| 79 %
|
| 1,685
| 30 %
|
|
|
|
|
|
|
|
|
|
|
| General expenses
| (2,579)
| (35 %)
|
| (3,265)
| (35 %)
|
| (686)
| (27 %)
|
|
|
|
|
|
|
|
|
|
|
| EBITDA
| 3,056
| 42 %
|
| 4,055
| 44 %
|
| 999
| 33 %
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization
| (2,304)
| (32 %)
|
| (3,415)
| (37 %)
|
| (1,111)
| (48 %)
|
|
|
|
|
|
|
|
|
|
|
| Operating profit (loss)
| 753
| 10 %
|
| 640
| 7 %
|
| (113)
| (15 %)
|
|
|
|
|
|
|
|
|
|
|
| Financial cost:
|
|
|
|
|
|
|
|
|
| Interest revenue
| 10
| 0 %
|
| 22
| 0 %
|
| 12
| 120 %
|
| Accrued interest expense
| (902)
| (12 %)
|
| (1,057)
| (11 %)
|
| (155)
| (17 %)
|
| Other financial (expenses) income - Net
| (71)
| (1 %)
|
| (193)
| (2 %)
|
| (122)
| (172 %)
|
| Foreign exchange (loss) gain - Net
| (623)
| (9 %)
|
| (712)
| (8 %)
|
| (89)
| (14 %)
|
|
|
|
|
|
|
|
|
|
|
| Profit (loss) before income tax provision
| (833)
| (11 %)
|
| (1,300)
| (14 %)
|
| (467)
| (56 %)
|
|
|
|
|
|
|
|
|
|
|
| Income tax provision
| (3)
| (0 %)
|
| (551)
| (6 %)
|
| (548)
| n.m.
|
| Minority interest
| -
| 0 %
|
| 8
| 0 %
|
| 8
| n.a.
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) for the period
| (836)
| (11 %)
|
| (1,843)
| (20 %)
|
| (1,007)
| (120 %)
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES
|
| CONSOLIDATED ACCUMULATED INCOME STATEMENTS
|
| (Millions of Mexican pesos)
|
|
|
|
|
|
|
|
|
|
|
| Accumulated
|
| Accumulated
|
|
|
|
|
| 9M21
|
| 9M22
|
| Change
|
|
| $
| %
|
| $
| %
|
| $
| %
|
|
|
|
|
|
|
|
|
|
|
| Revenue from services
| 20,466
| 100 %
|
| 26,616
| 100 %
|
| 6,150
| 30 %
|
|
|
|
|
|
|
|
|
|
|
| Cost of services
| (4,909)
| (24 %)
|
| (5,859)
| (22 %)
|
| (950)
| (19 %)
|
|
|
|
|
|
|
|
|
|
|
| Gross profit
| 15,557
| 76 %
|
| 20,757
| 78 %
|
| 5,200
| 33 %
|
|
|
|
|
|
|
|
|
|
|
| General expenses
| (6,868)
| (34 %)
|
| (9,169)
| (34 %)
|
| (2,301)
| (34 %)
|
|
|
|
|
|
|
|
|
|
|
| EBITDA
| 8,689
| 42 %
|
| 11,588
| 44 %
|
| 2,899
| 33 %
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization
| (6,395)
| (31 %)
|
| (9,239)
| (35 %)
|
| (2,844)
| (44 %)
|
| Other income (expenses) - Net
| -
| 0 %
|
| -
| 0 %
|
| -
| 0 %
|
|
|
|
|
|
|
|
|
|
|
| Operating profit
| 2,294
| 11 %
|
| 2,349
| 9 %
|
| 55
| 2 %
|
|
|
|
|
|
|
|
|
|
|
| Financial cost:
|
|
|
|
|
|
|
|
|
| Interest revenue
| 32
| 0 %
|
| 60
| 0 %
|
| 28
| 88 %
|
| Accrued interest expense
| (2,075)
| (10 %)
|
| (2,939)
| (11 %)
|
| (864)
| (42 %)
|
| Other financial expenses
| (195)
| (1 %)
|
| (296)
| (1 %)
|
| (101)
| (52 %)
|
| Foreign exchange gain (loss) - Net
| (528)
| (3 %)
|
| 90
| 0 %
|
| 618
| 117 %
|
|
|
|
|
|
|
|
|
|
|
| Profit (loss) before income tax provision
| (472)
| (2 %)
|
| (736)
| (3 %)
|
| (264)
| (56 %)
|
|
|
|
|
|
|
|
|
|
|
| Income tax provision
| (20)
| (0 %)
|
| (1,086)
| (4 %)
|
| (1,066)
| n.m.
|
| Minority interest
| -
| 0 %
|
| 8
| 0 %
|
| 8
| n.a.
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) for the period
| (492)
| (2 %)
|
| (1,814)
| (7 %)
|
| (1,322)
| n.m.
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES
| CONSOLIDATED BALANCE SHEETS
| (Millions of Mexican pesos)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of September 30,
|
|
|
|
|
|
| 2021
|
|
| 2022
|
|
| Change
|
|
|
| $
| %
|
| $
| %
|
| $
| %
|
| Assets
|
|
|
|
|
|
|
|
|
|
| CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
| Cash and cash
|
| 6,932
| 11 %
|
| 1,272
| 2 %
|
| (5,660)
| (82 %)
|
| Restricted cash in trusts
|
| 1,118
| 2 %
|
| 1,426
| 2 %
|
| 308
| 28 %
|
| Customers - net
|
| 3,391
| 5 %
|
| 5,284
| 7 %
|
| 1,893
| 56 %
|
| Derivative financial instruments
|
| 192
| 0 %
|
| -
| 0 %
|
| (192)
| (100 %)
|
| Other receivables and recoverable taxes
|
| 4,132
| 6 %
|
| 4,065
| 5 %
|
| (67)
| (2 %)
|
| Inventories
|
| 1,552
| 2 %
|
| 2,726
| 3 %
|
| 1,174
| 76 %
|
| Prepaid expenses
|
| 612
| 1 %
|
| 919
| 1 %
|
| 307
| 50 %
|
| Total current assets
|
| 17,929
| 27 %
|
| 15,692
| 20 %
|
| (2,237)
| (12 %)
|
|
|
|
|
|
|
|
|
|
|
|
| NON-CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
| Property, plant and equipmente - Net
|
| 41,928
| 64 %
|
| 55,483
| 70 %
|
| 13,555
| 32 %
|
| Rights-of-use assets -Net
|
| 4,368
| 7 %
|
| 6,073
| 8 %
|
| 1,705
| 39 %
|
| Other non-current assets
|
| 1,620
| 2 %
|
| 1,595
| 2 %
|
| (25)
| (2 %)
|
| Total non-current assets
|
| 47,916
| 73 %
|
| 63,151
| 80 %
|
| 15,235
| 32 %
|
| Total assets
|
| 65,845
| 100 %
|
| 78,843
| 100 %
|
| 12,998
| 20 %
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities and Stockholders' Equity
|
|
|
|
|
|
|
|
|
|
| SHORT-TERM LIABILITIES
|
|
|
|
|
|
|
|
|
|
| Short-term financial debt
|
| 1,414
| 2 %
|
| 4,916
| 6 %
|
| 3,502
| n.m.
|
| Trade payables
|
| 7,575
| 12 %
|
| 11,890
| 15 %
|
| 4,315
| 57 %
|
| Other payables and taxes
|
| 3,046
| 5 %
|
| 4,738
| 6 %
|
| 1,692
| 56 %
|
| Derivative financial instruments
|
| -
| 0 %
|
| 766
| 1 %
|
| 766
| n.a.
|
| Lease liabilities
|
| 1,481
| 2 %
|
| 1,919
| 2 %
|
| 438
| 30 %
|
| Total short-term liabilities
|
| 13,516
| 21 %
|
| 24,229
| 31 %
|
| 10,713
| 79 %
|
|
|
|
|
|
|
|
|
|
|
|
| LONG-TERM LIABILITIES
|
|
|
|
|
|
|
|
|
|
| Long-term financial debt
|
| 39,257
| 60 %
|
| 41,999
| 53 %
|
| 2,742
| 7 %
|
| Trade payables
|
| 4
| 0 %
|
| -
| 0 %
|
| (4)
| (100 %)
|
| Other long-term payables
|
| 81
| 0 %
|
| 1,539
| 2 %
|
| 1,458
| n.m.
|
| Lease liabilities
|
| 3,257
| 5 %
|
| 4,566
| 6 %
|
| 1,309
| 40 %
|
| Total long-term liabilities
|
| 42,599
| 65 %
|
| 48,104
| 61 %
|
| 5,505
| 13 %
|
| Total liabilities
|
| 56,115
| 85 %
|
| 72,333
| 92 %
|
| 16,218
| 29 %
|
|
|
|
|
|
|
|
|
|
|
|
| STOCKHOLDERS' EQUITY
|
| 9,730
| 15 %
|
| 6,510
| 8 %
|
| (3,220)
| (33 %)
|
| Total stockholders' equity and liabilities
|
| 65,845
| 100 %
|
| 78,843
| 100 %
|
| 12,998
| 20 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES
| CONSOLIDATED STATEMENTS OF CASH FLOWS
| (Millions of Mexican pesos)
|
|
|
|
|
|
|
|
|
|
| Years ended
|
|
|
|
| September 30,
|
|
|
|
| 2021
| 2022
| Operating activities:
|
|
|
|
|
| (Loss) income before income tax provision
|
|
|
| (471)
| (728)
| Items not requiring the use of resources:
|
|
|
|
|
| Depreciation and amortization
|
|
|
| 6,395
| 9,239
| Employee benefits
|
|
|
| 14
| 23
| Items related to investing or financing activities:
|
|
|
|
|
| Accrued interest income
|
|
|
| (32)
| (60)
| Accrued interest expense and other financial transactions
|
|
|
| 2,075
| 2,939
| Valuation of financial derivative instruments
|
|
|
| (406)
| 988
|
|
|
|
| 7,575
| 12,401
| Resources (used in) generated by operating activities:
|
|
|
|
|
| Customers and unearned revenue
|
|
|
| (1,015)
| (1,534)
| Other receivables
|
|
|
| (23)
| 4
| Related parties, net
|
|
|
| (88)
| 14
| Taxes to be recovered
|
|
|
| (638)
| 323
| Inventories
|
|
|
| 70
| (847)
| Advance payments
|
|
|
| (204)
| (453)
| Trade payables
|
|
|
| (680)
| 1,987
| Other payables
|
|
|
| 1,227
| 737
|
|
|
|
|
|
| Cash flows generated by operating activities
|
|
|
| 6,224
| 12,632
|
|
|
|
|
|
| Investing activities:
|
|
|
|
|
| Acquisition of property, plant and equipment
|
|
|
| (12,094)
| (16,970)
| Other assets
|
|
|
| (112)
| 45
| Collected interest
|
|
|
| 32
| 60
|
|
|
|
|
|
| Cash flows (used in) investing activities
|
|
|
| (12,174)
| (16,865)
|
|
|
|
|
|
| Financing activities:
|
|
|
|
|
| Loans received
|
|
|
| 14,478
| 5,420
| Leasing cash flows
|
|
|
| (1,231)
| (1,716)
| Interest payment
|
|
|
| (2,214)
| (3,108)
| Restricted Cash in Trusts
|
|
|
| 153
| (540)
| Reverse factoring
|
|
|
| (91)
| 1,132
| Capital contributions
|
|
|
| -
| 151
| Net cash flows generated by financing activities
|
|
|
| 11,095
| 1,339
|
|
|
|
|
|
| Increase in cash and cash equivalents
|
|
|
| 5,145
| (2,894)
| Cash and cash equivalents at the beginning of the year
|
|
|
| 1,787
| 4,166
|
|
|
|
|
|
| Cash and cash equivalents at the end of the year
|
|
|
| 6,932
| 1,272
|
|
|
|
|
|
|
 View original content:https://www.prnewswire.com/news-releases/total-play-announces-revenue-of-ps9-303-million-and-ebitda-of-ps4-055-million-in-the-third-quarter-of-2022--301661775.html
SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.
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