Total Play Telecomunicaciones S.A.P.I. de C.V. (TOTALPLAY) Q3 2024 earnings summary

Executive summary

• EBITDA grew 12% year-over-year to Ps.5,390 million in Q3 2024, with a record 48% EBITDA margin since public debt issuance.

• Revenue increased 10% year-over-year to Ps.11,117 million, driven by 8% growth in residential and 22% in enterprise segments.

• Net loss narrowed to Ps.1,087 million from Ps.2,130 million in Q3 2023, reflecting improved operational performance.

• Capex was 26.5% of revenue, down from 36.9% a year ago, supporting three consecutive quarters of positive cash flow generation.

• Successful long-term debt placement of Ps.2,500 million further strengthened liquidity and financial stability.

Financial highlights

• Q3 2024 revenue: Ps.11,117 million (+10% YoY); EBITDA: Ps.5,390 million (+12% YoY); operating income: Ps.1,147 million (+40% YoY).

• Net loss for Q3 2024: Ps.1,087 million, a 49% improvement from Q3 2023.

• Nine-month 2024 revenue: Ps.33,355 million (+12% YoY); EBITDA: Ps.15,474 million (+14% YoY); operating income: Ps.2,872 million (+68% YoY).

• Nine-month net loss: Ps.5,984 million, compared to Ps.2,123 million loss in the prior year period.

Outlook and guidance

• Management emphasizes continued operational efficiencies, disciplined subscriber growth, and strong cash flow generation.

• Liquidity and financial strength expected to improve further with recent debt placement and ongoing cash flow.