Total Play Telecomunicaciones S.A.P.I. de C.V. (TOTALPLAY) Q2 2024 earnings summary

Executive summary

• EBITDA grew 16% year-over-year in Q2 2024 to a record Ps.5,096 million, with margin rising to 46% from 44%.

• Revenue increased 13% year-over-year to Ps.11,150 million, driven by 8% growth in residential and 45% in enterprise segments.

• Net loss widened to Ps.3,733 million from Ps.310 million loss a year ago, mainly due to foreign exchange losses and higher financial costs.

• Capex was Ps.2,668 million (23.9% of revenue), down from 40.3% of revenue a year ago, boosting cash generation.

• Short-term debt reduced by 30% to Ps.4,212 million, strengthening capital structure.

Financial highlights

• Q2 2024 revenue: Ps.11,150 million (+13% YoY); EBITDA: Ps.5,096 million (+16% YoY); operating income: Ps.889 million (+196% YoY).

• Net loss: Ps.3,733 million (vs. Ps.310 million loss in Q2 2023), mainly due to Ps.2,473 million FX loss (vs. Ps.1,619 million gain last year).

• Six-month revenue: Ps.22,237 million (+13% YoY); EBITDA: Ps.10,083 million (+14% YoY); net loss: Ps.4,897 million (vs. Ps.6 million profit in 2023).

• Cash and equivalents at period end: Ps.5,225 million (+23% YoY).

Outlook and guidance

• Focus remains on disciplined subscriber growth, operational efficiency, and cash generation.

• Strategy to extend debt maturities and reduce short-term obligations continues.