Totalplay App En Pc
Harriet Wehrenberg
MEXICO CITY, Oct. 25, 2023 /PRNewswire/ -- Total Play Telecomunicaciones, S.A.P.I. de C.V. ("Total Play"), a leading telecommunications company in Mexico that offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, today announced financial results for the third quarter of 2023.
"Total Play's subscriber base growth moderation strategy continued to generate strong operating efficiencies in the quarter, which resulted in a notable reduction in the growth rate of total costs and expenses, which, together with higher revenue, translated into a 19% increase in EBITDA, and the highest EBITDA margin recorded by the company since it issued public debt," commented Eduardo Kuri, CEO of Total Play. "The sustained EBITDA growth, combined with the Capex of the quarter, reflects strict financial discipline, and contributed to significantly boost the company's cash generation."
As a result, Total Play's EBITDA grew 19%, to Ps.4,814 million, from Ps.4,055 million a year ago; The EBITDA margin for the quarter was 47%, three percentage points above the previous year. The company recorded operating income of Ps.819 million, compared to Ps.640 million a year ago.
Totalplay Residencial's revenue growth, to Ps.8,847 million, compared to Ps.7,890 million the previous year, results from a 10% increase in the number of subscribers of the company's services, to reach 4,624,312 at the close of the quarter. Consistent with the strategy of moderating the growth of Total Play's subscriber base, the percentage increase in the number of users this period is the lowest since the company began issuing public debt. Compared to the previous quarter, the number of net additions grew by 106,142 users.
As previously announced, in the first quarter of the year the company's investment program in geographic coverage concluded, given that the territory in which its target market is located throughout the country was reached. Accordingly, the number of homes passed at the end of the period was 17.5 million, constant for the first nine months of 2023. Compared to the same quarter 2022, which reported 17.1 million homes passed, growth was 3%.
Revenue from the enterprise segment was Ps.1,289 million, from Ps.1,413 million the previous year. The reduction of sales is part of the company's efforts to boost liquidity, reducing its exposure to business projects with slow relative return on investment.
The decrease in costs, to Ps.1,827 million, from Ps.1,983 million the previous year, results mainly from reduction in business projects costs, lower licensing costs and renegotiation of content prices, within the framework of strict budget compliance.
As of September 30, 2023, the company's debt with cost was Ps.50,280 million, compared to Ps.46,915 million the previous year. The growth of the debt balance is related to loans with financial institutions during the period and the issuance of Certificados Burstiles.
The balance of cash and cash equivalents, as well as restricted cash in trusts totaled Ps.5,578 million, more than double compared to Ps.2,698 million a year ago. As a result, the company's net debt was Ps.51,076 million, from Ps.50,702 million the previous year.
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 well-being; 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.
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