—Growth of 115,020 net subscribers in Totalplay Residencial in the period strengthens the company’s service revenues—
—EBITDA less Capex and interest reached Ps.883 million, the highest level ever recorded for a first quarter—
—A 9% reduction in debt with cost from loans provides additional strength to the company’s capital structure—
MEXICO CITY, April 23, 2026 /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 telephony services, through one of the largest 100% fiber optic networks in the country, announced today financial results for the first quarter of 2026.
“The growing preference of millions of homes for our technologically advanced internet services, with superior stability and speed, resulted in a net increase of 115,020 subscribers in the quarter, which continued to drive the company’s revenue,” commented Eduardo Kuri, CEO of Total Play. “The growth of our operations was consistent with the Capex which represented only 22% of revenue, and interest payments that decreased double-digit, in the context of lower debt with cost at the company. This resulted in a 51% increase in cash generation — defined as EBITDA less Capex and interest paid — reaching a record high of Ps.883 million in the period.”
“Regarding the balance sheet, we began this quarter with the amortization schedule for the Senior Secured Notes due 2028 — through a principal payment of US$15 million for the period — which adds to the US$56 million amortization of the remaining balance of the Senior Notes due in 2025 — done in the previous quarter — which, among other debt payments, contributed to a 9% reduction in our balance of debt with cost from loans,” added Mr. Kuri. “Simultaneously, we were able to decrease our lease liabilities by 30% and our trade payables by 22%, further strengthening Total Play’s solid capital structure.”
First quarter results
Revenue for the quarter was Ps.11,177 million, 3% higher than Ps.10,843 million for the same period of the previous year. Total costs and expenses were Ps.6,328 million, compared to Ps.5,761 million in the prior year.
As a result, Total Play’s EBITDA was Ps.4,849 million, from Ps.5,082 million a year ago; the quarter’s EBITDA margin was 43%. The company reported operating profit of Ps.301 million, compared to Ps.763 million a year earlier.
Total Play reported a net loss of Ps.1,327 million from a loss of Ps.1,961 million in the same quarter of 2025.
Q1 2025
Q1 2026
Change
Ps.
%
Revenue from services
$10,843
$11,177
$334
3 %
EBITDA
$5,082
$4,849
$(233)
(5) %
Operating income
$763
$301
$(462)
(61) %
Net result
$(1,961)
$(1,327)
$634
32 %
Amounts in millions of pesos.
EBITDA: Earnings before interest, taxes, depreciation, and amortization.
Revenue from services
The company’s revenue increased 3%, as a result of 3% growth in sales in the residential segment and 4% growth in revenue from the enterprise segment.
Totalplay Residential’s revenue increase to Ps.9,848 million, up from Ps.9,570 million the previous year, is related to a 4% increase in the number of the company’s service subscribers compared to the same quarter of the previous year, reaching 5,554,374 this period — a figure that includes 67,856 small and medium-sized businesses. Compared to the previous quarter, the subscriber base increased by 115,020 users. The company believes that the number of subscribers achieved this quarter reflects its remarkable ability to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and service excellence.
Average revenue per subscriber (ARPU) for the quarter was Ps.588, compared to Ps.597 a year ago. The decrease in ARPU is largely related to a growing proportion of double-play subscribers compared to triple-play subscribers within the total residential subscriber base.
The number of homes passed by Total Play in Mexico at the end of this period was 19.5 million, compared to 17.6 million a year ago.
Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 28.5% at the end of the quarter from 30.2% a year ago.
Revenue from the enterprise segment was Ps.1,329 million, up from Ps.1,273 million in the previous year, as a result of contracting Total Play services for the development of corporate client projects.
Costs and expenses
Total costs and expenses increased 10% as a result of a 4% increase in service costs and a 12% increase in expenses.
The increase in costs to Ps.1,663 million from Ps.1,597 million in the previous year, results mainly from higher costs related to memberships, maintenance and support, partially offset by lower content costs — as a result of a higher proportion of double play users in the mix of residential service subscribers and the negotiation of terms, in an optimal way, with content producers —.
The increase in expenses to Ps.4,665 million from Ps.4,164 million reflects higher maintenance, personnel, advertising and promotion expenses, in the context of the company’s growing operations.
EBITDA and net result
Total Play’s EBITDA was Ps.4,849 million compared to Ps.5,082 million the previous year.
Relevant variations below EBITDA were the following:
An increase of Ps.229 million in depreciation and amortization, as a result of user acquisition costs — telecommunications equipment, labor and installation in the period.
A Decrease of Ps.189 million in accrued interest payable, in the context of reducing the company’s debt with cost balance during the period.
Changes in the fair value of financial instruments of Ps.921 million, due to costs related to hedging options in the previous year.
Other financial income of Ps.31 million, compared to other expenses of Ps.200 million in the previous year, as a result of costs related to debt issuances a year ago.
A, increase of Ps.109 million in exchange losses as a result of net liability monetary position in foreign currency, together with greater depreciation of the peso against the basket of currencies in which the company’s monetary liabilities are denominated this quarter, compared to the previous year.
Total Play reported a net loss of Ps.1,327 million from a net loss of Ps.1,961 million in the same period of 2025.
Balance sheet
As of March 31, 2026, the company’s debt with cost from loans was Ps.55,477 million, 9% lower than the Ps.60,806 million of the previous year. The reduction resulted from various debt with cost amortizations during the period, including US$15 million of the company’s Senior Secured Notes due 2028 this quarter and US$56 million of the remaining Senior Notes due 2025, done last November, partially offset by the issuance of US$200 million in Additional Notes to the Senior Secured Notes due 2032, announced in April 2025.
Lease liabilities were Ps.2,756 million, 30% lower compared to Ps.3,917 million in the previous year.
Cash and cash equivalents, as well as restricted cash in trusts, was Ps.6,477 million, compared to Ps.10,008 million a year ago. As a result, the company’s net debt was Ps.51,756 million, 5% lower compared to Ps.54,715 million in the previous year.
The debt ratio — Net Debt / EBITDA of the last two quarters annualized — was 2.62 times.
Total Play’s fixed assets — which include accumulated investment in fiber optics, telecommunications equipment and subscriber acquisition costs, among other assets — were Ps.79,312 million, compared to Ps.85,944 million a year ago.
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 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.
Investor Relations:
Bruno Rangel
Rolando Villarreal
+ 52 (55) 1720 9167
+ 52 (55) 1720 9167
jrangelk@totalplay.com.mx
rvillarreal@totalplay.com.mx
Press Relations:
Luciano Pascoe
Tel. +52 (55) 1720 1313 ext. 36553
lpascoe@gruposalinas.com.mx
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.
Consolidated Quarterly Income Statements
(Millions of Mexican pesos)
1Q 25
1Q 26
Change
$
%
$
%
$
%
Revenue from services
10,843
100 %
11,177
100 %
334
3 %
Cost of services
(1,597)
(15 %)
(1,663)
(15 %)
(66)
(4 %)
Gross profit
9,246
85 %
9,514
85 %
268
3 %
General expenses
(4,164)
(38 %)
(4,665)
(42 %)
(501)
(12 %)
EBITDA
5,082
47 %
4,849
43 %
(233)
(5 %)
Depreciation and amortization
(4,319)
(40 %)
(4,548)
(41 %)
(229)
(5 %)
Operating profit
763
7 %
301
3 %
(462)
(61 %)
Financial cost:
Interest revenue
56
1 %
30
0 %
(26)
(46 %)
Accrued interest expense
(1,770)
(16 %)
(1,581)
(14 %)
189
11 %
Change in fair value of financial instruments
(924)
(9 %)
(3)
(0 %)
921
100 %
Other financial (expenses) income
(200)
(2 %)
31
0 %
231
—
Foreign exchange (loss) – Net
(40)
(0 %)
(149)
(1 %)
(109)
n.m.
(2,878)
(27 %)
(1,672)
(15 %)
1,206
42 %
Loss before income tax provisions
(2,115)
(20 %)
(1,371)
(12 %)
744
35 %
Income tax provision
154
1 %
44
0 %
(110)
(71 %)
Net loss for the period
(1,961)
(18 %)
(1,327)
(12 %)
634
32 %
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.
Consolidated Statements of Financial Position
(Millions of Mexican pesos)
As of March 2025
As of March 2026
Cambio
$
%
$
%
$
%
ASSETS
Current Assets:
Cash and cash equivalents
7,132
6 %
4,342
4 %
(2,790)
(39 %)
Restricted cash in trusts
2,876
3 %
2,135
2 %
(741)
(26 %)
Customers – net
2,902
3 %
3,016
3 %
114
4 %
Recoverable taxes
3,365
3 %
2,293
2 %
(1,072)
(32 %)
Inventories
2,416
2 %
2,146
2 %
(270)
(11 %)
Derivative financial instruments
193
0 %
–
0 %
(193)
(100 %)
Other current assets
873
1 %
883
1 %
10
1 %
Total current assets
19,757
18 %
14,815
15 %
(4,942)
(25 %)
Non-Current Assets:
Property, plant and equipmente – Net
85,944
77 %
79,312
81 %
(6,632)
(8 %)
Rights-of-use assets -Net
2,849
3 %
1,652
2 %
(1,197)
(42 %)
Trademarks and other assets
2,620
2 %
2,464
3 %
(156)
(6 %)
Total non-current assets
91,413
82 %
83,428
85 %
(7,985)
(9 %)
Total assets
1,11,170
100 %
–
98,243
100 %
(12,927)
(12 %)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-Term Liabilities
Financial debt
9,240
8 %
5,435
6 %
(3,805)
(41 %)
Lease liabilities
2,367
2 %
1,749
2 %
(618)
(26 %)
Trade payables
12,719
11 %
9,913
10 %
(2,806)
(22 %)
Reverse factoring
1,483
1 %
278
0 %
(1,205)
(81 %)
Other short-term liabilities
3,814
3 %
3,255
3 %
(559)
(15 %)
Total short-term liabilities
29,623
27 %
20,630
21 %
(8,993)
(30 %)
Long-Term Liabilities
Financial debt
51,566
46 %
50,042
51 %
(1,524)
(3 %)
Lease liabilities
1,550
1 %
1,007
1 %
(543)
(35 %)
Employee benefits
101
0 %
148
0 %
47
47 %
Deferred income tax
12,950
12 %
13,741
14 %
791
6 %
Total liabilities
95,790
86 %
85,568
87 %
(10,222)
(11 %)
EQUITY:
Capital stock
8,201
7 %
8,060
8 %
(141)
(2 %)
Retained earnings
(15,836)
(14 %)
(17,171)
(17 %)
(1,335)
(8 %)
Other comprehensive income
23,015
21 %
21,786
22 %
(1,229)
(5 %)
Total equity
15,380
14 %
12,675
13 %
(2,705)
(18 %)
Total liabilities and equity
1,11,170
100 %
98,243
100 %
(12,927)
(12 %)
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.
Consolidated Statements of Cash Flows
(Millions of Mexican pesos)
3M 25
3M 26
$
$
Operating activities:
Loss before income tax provision
(2,115)
(1,371)
Items not requiring the use of resources:
Depreciation and amortization
4,320
4,548
Employee benefits
9
10
Items related to investing or financing activities:
Accrued interest income
(56)
(30)
Accrued interest expense
1,770
1,581
Other financial transactions
1,122
(27)
Unrealized exchange (gain) loss
(89)
262
4,961
4,973
Resources (used in) generated by operating activities:
Customers and unearned revenue
315
134
Other receivables
–
2
Related parties, net
53
(104)
Taxes to be recovered
353
260
Inventories
292
400
Advance payments
(76)
(179)
Trade payables
(906)
(1,092)
Other payables
299
434
Cash flows generated by operating activities
5,291
4,828
Investing activities:
Acquisition of property, plant and equipment
(2,601)
(2,425)
Other assets
(234)
75
Collected interest
56
31
Cash flows used in investing activities
(2,779)
(2,319)
Financing activities:
Capital repayments
–
–
Loans (paid) received
4,312
(58)
Leasing cash flows
(822)
(449)
Restricted Cash in Trusts
(488)
(371)
Reverse factoring
(107)
(80)
Derivative financial instruments
265
–
Interest payment
(1,895)
(1,541)
Cash flows used in financing activities
1,265
(2,499)
Net increase in cash and cash equivalents
3,777
10
Cash and cash equivalents at the beginning of the year
3,355
4,332
Cash and cash equivalents at the end of the year
7,132
4,342
View original content:https://www.prnewswire.com/news-releases/total-play-announces-revenue-of-ps11-177-million-and-ebitda-of-ps4-849-million-in-the-first-quarter-of-2026–302752403.html
SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.
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