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Megacable Holdings (MEGACPO) investor relations material
Megacable Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong subscriber growth, reaching 5.86 million unique subscribers, up 9% year over year, and became the second largest broadband operator in Mexico, with RGUs surpassing 14.7 million.
Mass market segment drove revenue and EBITDA growth, with record Mass Segment revenues of Ps. 7,595 million, up 11.2% year over year, while the corporate segment remained soft due to economic slowdown and increased competition.
Net income rose 25.5% year over year to Ps. 628 million, driven by higher operating profit and improved financing results.
Maintained disciplined execution of expansion and network evolution projects, with 82% of the base now served by fiber.
Financial highlights
Total revenues reached Ps. 8,921 million, up 8.6% year over year, driven by 11.2% growth in the mass market segment.
EBITDA increased 10.2% year over year to Ps. 3,946 million, with margin improving to 44.2%.
Net income for the quarter was Ps. 628 million, up 25.5% year over year.
ARPU per unique subscriber rose to Ps. 422.3, up from Ps. 418.9 last year.
Operating profit grew 5% year over year to Ps. 1,505 million.
Outlook and guidance
CapEx is expected to decline to 24%-26% of revenues in 2026 and further to 21%-23% in 2027, as major expansion and migration projects wind down.
Subscriber growth is forecasted to continue at 100,000-150,000 net additions per quarter through 2026 and 2027.
Focus remains on maximizing free cash flow, maintaining investment-grade credit, and maturing recent investments.
Continued deceleration in CAPEX investment pace is expected, following the achievement of doubling homes passed since the expansion project began.
Focus remains on expanding fiber coverage and digital content offerings to align with subscriber preferences.
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