Technology
TOTAL PLAY ANNOUNCES 12% GROWTH IN EBITDA TO Ps.5,390 MILLION IN THE THIRD QUARTER OF 2024
Published
2 years agoon
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—The company reports EBITDA margin of 48%; the highest level since Total Play issues public debt—
—Capex for the quarter was equivalent to 26.5% of the company’s revenue, compared to Capex equivalent of 36.9% of revenue a year ago—
—Balance of EBITDA, less Capex and interest, reached Ps.781 million in the period—
MEXICO CITY, Oct. 23, 2024 /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 third quarter of 2024.
“Growing operational efficiencies in Total Play — within the framework of our firm strategy to moderate subscriber base growth and strict financial discipline — translated into a solid increase in EBITDA and a growth in the EBITDA margin, reaching its highest level since the company issues public debt,” commented Eduardo Kuri, CEO of Total Play. “The higher EBITDA, combined with the Capex for the period — representing 26.5% of the company’s revenue — continued to drive cash flow generation, defined as EBITDA less Capex and interest paid, to Ps.781 million this period, marking three consecutive quarters of strong cash generation.”
“On the balance sheet, the successful issuance of long-term Secured Certificados Bursátiles for Ps.2.5 billion — announced on October 2 — along with the company’s growing cash flow, will further strengthen the cash balance, thereby boosting Total Play’s liquidity and financial strength,” added Mr. Kuri.
Third quarter results
Revenue for the quarter was Ps.11,117 million, 10% above the Ps.10,137 million of the same period of the previous year. Total costs and expenses were Ps.5,727 million, compared to Ps.5,323 million of the previous year.
As a result, Total Play’s EBITDA grew 12% to Ps.5,390 million from Ps.4,814 million a year ago; EBITDA margin for the quarter was 48%, one percentage point higher from the same quarter in 2023. The company recorded operating income of Ps.1,147 million, compared to Ps.819 million a year ago.
Total Play reported net loss of Ps.1,087 million, from a loss of Ps.2,130 million in the same quarter of 2023.
Q3 2023
Q3 2024
Change
Ps.
%
Revenue from services
$10,137
$11,117
$980
10 %
EBITDA
$4,814
$5,390
$576
12 %
Operating income
Net result
$819
$(2,130)
$1,147
$(1,087)
$328
$(1,043)
40%
49%
Amounts in millions of pesos.
EBITDA: Earnings before interest, taxes, depreciation, and amortization.
Service revenue
The company’s revenue grew 10%, as a result of an 8% increase in sales in the residential segment and a 22% increase in revenues from the enterprise business.
Totalplay Residencial’s revenue growth to Ps. 9,544 million, compared to Ps. 8,847 million a year earlier, relates to a 9% increase in the number of subscribers to the company’s services, from the same quarter a year ago, to reach 5,124,433 this period, including 69,572 small and medium-sized businesses. The company considers that the number of users reached this quarter reflects its remarkable capacity to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and an excellent service.
Compared to the previous quarter, the subscriber base grew by 115,342 users, in line with Total Play’s strategy of moderating its subscriber base growth.
Average revenue per subscriber (ARPU) for the quarter was Ps.617, compared to Ps.630 a year ago and with Ps.612 from the previous quarter.
As previously announced, the company’s geographic coverage investment program was completed during the first quarter of 2023. Accordingly, the number of homes passed in Mexico at the end of this period was 17,588,706, a figure with minor variations compared to 17,531,567 a year ago.
Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 29.1% at the end of the quarter, up from 26.8% a year ago.
The enterprise segment’s revenue was Ps.1,573 million, up from Ps.1,289 million in the previous year, due to the launch of various organizations´ projects in recent months.
Costs and expenses
Total costs and expenses increased 8%, as a result of a 5% increase in service costs and a 9% growth in general expenses.
The increase in costs to Ps.1,918 million from Ps.1,827 million in the previous year is primarily due to higher costs associated with business projects, links, and memberships. This increase was partially offset by lower content and licensing costs.
The increase in expenses to Ps.3,809 million, from Ps.3,496 million, reflects higher maintenance and fees expenses, in the context of the company’s growing operations. This increase was partially offset by reductions in advertising and personnel expenses.
Costs and expenses for the quarter grew at a slower rate than revenues, as a result of strategies that generate solid operational efficiencies.
EBITDA and net result
Total Play’s EBITDA was Ps.5,390 million, 12% higher compared to Ps.4,814 million of the previous year.
Relevant variations below EBITDA were the following:
An increase of Ps.248 million in depreciation and amortization was mainly due to subscriber acquisition costs — including telecommunications equipment, labor, and installation expenses.
An increase of Ps.228 million in interest expense consistent with the financial debt balance variation, attributable to the exchange rate depreciation effect on dollar-denominated debt this quarter, as well as higher debt costs.
Increase of Ps.863 million in foreign exchange loss, as a result of the net monetary liability position in foreign currency, together with a larger depreciation this quarter of the peso against the basket of currencies in which the company’s monetary liabilities are denominated, compared to the previous year.
Total Play reported a net loss of Ps.1,087 million, compared to a loss of Ps.2,130 million in the same period of 2023.
Balance sheet
As of September 30, 2024, the Company’s debt with cost was Ps.53,736 million, compared to Ps.50,280 million in the previous year. The increase shows the effect of exchange rate depreciation on dollar-denominated debt.
Lease liabilities were Ps.4,814 million, 24% lower compared to Ps.6,374 million of the previous year.
Cash and cash equivalents, plus restricted cash held in trusts, totaled Ps.5,886 million, a 6% increase from Ps.5,578 million a year ago. Consequently, the company’s net debt was Ps.52,664 million, compared to Ps.51,076 million a year ago.
The debt ratio — Net Debt / EBITDA for the last two annualized quarters — was 2.51 times, as a result of solid EBITDA growth, together with greater relative stability of the net debt balance.
Total Play’s fixed assets — including accumulated investments in fiber optics, telecommunications equipment, subscriber acquisition costs, and other assets — was Ps.62,229 million, compared to Ps.60,365 million a year ago.
Nine months results
Revenues for the first nine months of 2024 were Ps.33,355 million, 12% higher than Ps.29,830 million in the previous year, as a result of an 8% increase in residential revenues and a 32% growth in enterprise revenues. Total costs and expenses rose 10% to Ps.17,881 million from Ps.16,205 million, due to a 12% increase in service costs and a 10% growth in general expenses.
Total Play reported EBITDA of Ps.15,474 million, a 14% increase from Ps.13,625 million the previous year. The EBITDA margin for the period was 46%. Operating income reached Ps.2,872 million, up from Ps.1,711 million in the same period of 2023.
The company recorded a net loss of Ps.5,984 million, compared to a loss of Ps.2,123 million a year ago.
9M 2023
9M 2024
Change
Ps.
%
Revenue from services
$29,830
$33,355
$3,525
12 %
EBITDA
$13,625
$15,474
$1,849
14 %
Operating income
Net result
$1,711
$(2,123)
$2,872
$(5,984)
$1,161
$(3,861)
68%
—-
Amounts in millions of pesos.
EBITDA: Earnings before interest, taxes, depreciation, and amortization.
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. AND SUBSIDIARIES
CONSOLIDATED QUARTERLY INCOME STATEMENTS
(Millions of Mexican pesos)
3Q23
3Q24
Change
$
%
$
%
$
%
Revenue from services
10,137
100 %
11,117
100 %
980
10 %
Cost of services
(1,827)
(18 %)
(1,918)
(17 %)
(91)
(5 %)
Gross profit
8,310
82 %
9,199
83 %
889
11 %
General expenses
(3,496)
(34 %)
(3,809)
(34 %)
(313)
(9 %)
EBITDA
4,814
47 %
5,390
48 %
576
12 %
Depreciation and amortization
(3,995)
(39 %)
(4,243)
(38 %)
(248)
(6 %)
Operating profit
819
8 %
1,147
10 %
328
40 %
Financial cost:
Interest revenue
48
0 %
91
1 %
43
90 %
Change in fair value of financial instruments
(135)
(1 %)
(110)
(1 %)
25
19 %
Accrued interest expense
(1,386)
(14 %)
(1,614)
(15 %)
(228)
(16 %)
Other financial expenses
(121)
(1 %)
(134)
(1 %)
(13)
(11 %)
Foreign exchange loss – Net
(701)
(7 %)
(1,564)
(14 %)
(863)
(123 %)
(2,295)
(23 %)
(3,331)
(30 %)
(1,036)
(45 %)
Loss before income tax provisions
(1,476)
(15 %)
(2,184)
(20 %)
(708)
(48 %)
Income tax provision
(654)
(6 %)
1,097
10 %
1,751
n.m.
Net loss for the period
(2,130)
(21 %)
(1,087)
(10 %)
1,043
49 %
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES
CONSOLIDATED ACCUMULATED INCOME STATEMENTS
(Millions of Mexican pesos)
Accumulated
Accumulated
9M23
9M24
Change
$
%
$
%
$
%
Revenue from services
29,830
100 %
33,355
100 %
3,525
12 %
Cost of services
(5,737)
(19 %)
(6,400)
(19 %)
(663)
(12 %)
Gross profit
24,093
81 %
26,955
81 %
2,862
12 %
General expenses
(10,468)
(35 %)
(11,481)
(34 %)
(1,013)
(10 %)
EBITDA
13,625
46 %
15,474
46 %
1,849
14 %
Depreciation and amortization
(11,914)
(40 %)
(12,602)
(38 %)
(688)
(6 %)
Operating profit
1,711
6 %
2,872
9 %
1,161
68 %
Financial cost:
Interest revenue
138
0 %
235
1 %
97
70 %
Change in fair value of financial instruments
(463)
(2 %)
(1,124)
(3 %)
(661)
(143 %)
Accrued interest expense
(4,067)
(14 %)
(4,656)
(14 %)
(589)
(14 %)
Other financial expenses
(338)
(1 %)
(78)
(0 %)
260
77 %
Foreign exchange gain (loss) – Net
2,771
9 %
(3,627)
(11 %)
(6,398)
n.m.
(1,959)
(7 %)
(9,250)
(28 %)
(7,291)
n.m.
Equity interest in net results of non-controlling entities
(19)
(0 %)
–
0 %
(19)
(100 %)
Loss before income tax provisions
(267)
(1 %)
(6,378)
(19 %)
(6,111)
n.m.
Income tax provision
(1,856)
(6 %)
394
1 %
(2,250)
(121 %)
Net loss for the period
(2,123)
(7 %)
(5,984)
(18 %)
(3,861)
(182 %)
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Millions of Mexican pesos)
As of September 30,
2023
2024
Change
$
%
$
%
$
%
Assets
CURRENT ASSETS
Cash and cash equivalents
1,750
2 %
3,507
4 %
1,757
100 %
Restricted cash in trusts
3,828
4 %
2,379
3 %
(1,449)
(38 %)
Customers – net
4,445
5 %
3,877
5 %
(568)
(13 %)
Other accounts receivable
187
0 %
149
0 %
(38)
(20 %)
Recoverable taxes
4,086
5 %
3,897
5 %
(189)
(5 %)
Related parties
264
0 %
272
0 %
8
3 %
Inventories
2,765
3 %
2,486
3 %
(279)
(10 %)
Prepaid expenses
516
1 %
494
1 %
(22)
(4 %)
Total current assets
17,841
21 %
17,061
20 %
(780)
(4 %)
NON-CURRENT ASSETS
Related parties
159
0 %
275
0 %
116
73 %
Property, plant and equipmente – Net
60,365
70 %
62,229
73 %
1,864
3 %
Rights-of-use assets -Net
5,445
6 %
3,642
4 %
(1,803)
(33 %)
Trademarks and other assets
2,181
3 %
2,465
3 %
284
13 %
Total non-current assets
68,150
79 %
68,611
80 %
461
1 %
Total assets
85,991
100 %
85,672
100 %
(319)
(0 %)
Liabilities and Stockholders’ Equity
SHORT-TERM LIABILITIES
Financial debt
4,448
5 %
6,137
7 %
1,689
38 %
Lease liabilities
2,399
3 %
2,468
3 %
69
3 %
Trade payables
13,274
15 %
16,034
19 %
2,760
21 %
Reverse factoring
2,225
3 %
1,488
2 %
(737)
(33 %)
Other payables and payable taxes
2,013
2 %
2,106
2 %
93
5 %
Related parties
863
1 %
1,309
2 %
446
52 %
Liabilities from contracts with customers
681
1 %
400
0 %
(281)
(41 %)
Interest payable
430
1 %
79
0 %
(351)
(82 %)
Derivative financial instruments
57
0 %
10
0 %
(47)
(82 %)
Total short-term liabilities
26,390
31 %
30,031
35 %
3,641
14 %
LONG-TERM LIABILITIES
Financial debt
45,832
53 %
47,599
56 %
1,767
4 %
Lease liabilities
3,975
5 %
2,346
3 %
(1,629)
(41 %)
Derivative financial instruments
2,086
2 %
–
0 %
(2,086)
(100 %)
Employee benefits
56
0 %
101
0 %
45
80 %
Deferred income tax
4,211
5 %
5,517
6 %
1,306
31 %
Total long-term liabilities
56,160
65 %
55,563
65 %
(597)
(1 %)
Total liabilities
82,550
96 %
85,594
100 %
3,044
4 %
STOCKHOLDERS’ EQUITY
3,441
4 %
78
0 %
(3,363)
(98 %)
Total liabilities and stockholders’ equity
85,991
100 %
85,672
100 %
(319)
(0 %)
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions of Mexican pesos)
9th months period ended
September 30,
2023
2024
Operating activities:
Loss before income tax provision
(267)
(6,378)
Items not requiring the use of resources:
Depreciation and amortization
11,914
12,602
Employee benefits
7
26
Items related to investing or financing activities:
Accrued interest income
(138)
(235)
Accrued interest expense and other financial transactions
4,880
5,857
Unrealized exchange (gain) loss
(2,832)
3,647
Non-controlling participation
19
–
13,583
15,519
Resources (used in) generated by operating activities:
Customers and unearned revenue
756
(45)
Other receivables
49
35
Related parties, net
420
354
Taxes to be recovered
(275)
244
Inventories
(423)
441
Advance payments
392
35
Trade payables
2,587
2,505
Other payables
(427)
684
Cash flows generated by operating activities
16,662
19,772
Investing activities:
Acquisition of property, plant and equipment
(11,815)
(8,902)
Other assets
(63)
(120)
Collected interest
138
235
Cash flows (used in) investing activities
(11,740)
(8,787)
Financing activities:
Loans received
3,304
(2,165)
Leasing cash flows
(1,936)
(1,796)
Restricted Cash in Trusts
(1,841)
998
Reverse factoring
(466)
(746)
Derivative financial instruments
(315)
(1,522)
Interest payment
(3,808)
(4,624)
Cahs flows used in financing activities
(5,062)
(9,855)
Net increase (decrease) in cash and cash equivalents
(140)
1,130
Cash and cash equivalents at the beginning of the year
1,890
2,377
Cash and cash equivalents at the end of the year
1,750
3,507
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SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.
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For more information, please visit Huawei Cloud Thailand online at
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https://www.facebook.com/HuaweiCloudTH
https://www.youtube.com/@HuaweiCloudAPAC
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The OBT launch forms part of Huawei Cloud’s efforts to support Thailand’s developer community and make AI-assisted software development more accessible to organizations of different sizes.
Strengthening Security for Enterprise AI
Mr. Surasak also emphasized security, stability, and quality as key priorities for enterprise AI adoption. As cyberattacks become increasingly automated and AI-driven, Huawei Cloud has upgraded its security services in two areas: protecting AI systems and using AI to strengthen cyber defense.
Its model lifecycle security solution covers AI infrastructure, training data, model inference, and agent applications.
For enterprises concerned about data sovereignty and privacy, Huawei Cloud provides dedicated security zones that allow customers to independently manage their encryption keys while preventing platform administrators from accessing customer data. Software-hardware integration and hardware acceleration are also used to maintain encryption performance without compromising service efficiency. Huawei Cloud has also introduced Data Capsule technology, which ensures that data can only be used within authorized environments and automatically becomes invalid if moved outside a designated security zone.
Showcasing AI Use Cases Across Industries
Huawei Cloud Summit Thailand 2026 also featured AI and cloud use cases from organizations in Thailand. These included the development of AI platforms and intelligent assistants for the public sector, the use of AI coding and large language models in banking, and AI-powered learning and skills development platforms for the HR sector.
Huawei Cloud and its partners also shared how ecosystem collaboration can help solve industry challenges and accelerate AI adoption among enterprises.
About Huawei Cloud Thailand
Huawei Cloud Thailand is a leading cloud service provider committed to accelerating Thailand’s digital transformation under the mission of “In Thailand, For Thailand.” According to the latest report from Gartner, Huawei Cloud is ranked No.3 by revenue in Thailand’s Infrastructure as a Service (IaaS) market, solidifying its position as one of the most trusted and fastest-growing international cloud providers in the country.
As the first international public cloud vendor to establish local data centers in Thailand, Huawei Cloud now operates three Availability Zones, ensuring high reliability and low-latency connectivity for local users. Leveraging Huawei’s 30-plus years of expertise in ICT infrastructure, it integrates cutting-edge Artificial Intelligence (AI), Cloud-Native 2.0, and Big Data technologies to empower over 40 government agencies and thousands of enterprises across the Kingdom. By building a robust digital ecosystem and fostering local talent, Huawei Cloud aims to drive Thailand’s “Digital Economy” forward, bringing cloud and intelligence to every corner of the country for a fully connected, intelligent future.
For more information, please visit Huawei Cloud Thailand online at
https://www.huaweicloud.com/intl/th-th/ or follow us on:
https://www.facebook.com/HuaweiCloudTH
https://www.youtube.com/@HuaweiCloudAPAC
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/huawei-cloud-launches-agentic-infrastructure-and-codearts-agent-obt-in-thailand-accelerating-enterprise-ai-innovation-302833957.html
SOURCE Huawei Cloud Thailand
STOCKHOLM, July 24, 2026 /PRNewswire/ —
Continued strong growth and record operating margin (EBITA %)
President and CEO Aritz Larrea comments:
“We delivered another very strong quarter reflecting the continued execution of our strategy and the strength of our diversified model. Revenue reached SEK 7.9 billion with a currency-adjusted growth of 9.1 percent. Both segment USA and segment Europe and Latin America contributed to the performance driven by continued strength in our International and Automated Solutions business lines. Operating income (EBITA) exceeded 1 billion SEK and we increased our EBITA margin by more than 1 percentage point year–over–year to 14.0 percent.
Our financial position remains strong. Supported by robust cash flow generation and a solid balance sheet, we continue to invest in long-term growth opportunities, pursue value-creating acquisitions, and maintain our commitment to delivering attractive returns to shareholders.”
Quarter 2, April – June 2026
Revenue for the quarter was SEK 7,891 million (7,407). The currency-adjusted growth was 9.1 percent (4.8), of which organic growth was 6.7 percent (3.8) and acquisitions contributed 2.5 percent (1.0). Including the exchange rate effect, the total growth was 6.5 percent (-3.0).Operating income (EBITA) 1) for the quarter was SEK 1,102 million (944) and the operating margin (EBITA) increased to 14.0 percent (12.7).Operating income (EBIT) before items affecting comparability for the quarter was SEK 1,062 million (882) and operating margin (EBIT) before items affecting comparability was 13.5 percent (11.9).Income before taxes for the quarter was SEK 869 million (664) and profit for the period was SEK 608 million (478).Basic earnings per share for the quarter were SEK 9.09 (7.01) and diluted earnings per share were SEK 9.06 (6.99).Cash flow from operating activities 2) was SEK 683 million (550) in the quarter. The cash flow from operating activities for the rolling twelve months was 95 percent (105) of operating income (EBITA).Net debt in relation to EBITDA was 1.60 times (1.75) in the quarter.Loomis expanded its presence in Latin America through the acquisition of Transportadora del Interior in Argentina and the announced acquisition of Hermes Transportes Blindados in Peru.
1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and items affecting comparability.
2) Cash flow from operating activities is exclusive of impact from IFRS 16.
Report presentation today at 10.30 a.m. (CEST)
The report will be presented in a webcast conference today at 10.30 am (CEST) by President and CEO Aritz Larrea and CFO Johan Wilsby.
To follow the webcast, please follow this link.
The presentation materials and a recorded version of the conference will be available on https://www.loomis.com/en/investors/reports-and-presentations/ following the presentation.
For more information, please contact:
Jenny Boström
Head of Sustainability and IR
ir@loomis.com
+46 79 006 45 92
Fredrik Hammarbäck
Media and External Communications Manager
media@loomis.com
+46 76 311 56 29
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/loomis-ab/r/loomis-interim-report-january—june-2026,c4377246
The following files are available for download:
https://mb.cision.com/Main/51/4377246/4201809.pdf
Loomis Interim Report January – June 2026
https://mb.cision.com/Public/51/4377246/940bbe0a24c483c8.pdf
Loomis Interim Report January – June 2026 – press release
View original content:https://www.prnewswire.com/news-releases/loomis-interim-report-january–june-2026-302833961.html
SOURCE Loomis AB
Huawei Cloud Launches Agentic Infrastructure and CodeArts Agent OBT in Thailand, Accelerating Enterprise AI Innovation
Huawei Cloud Launches Agentic Infrastructure and CodeArts Agent OBT in Thailand, Accelerating Enterprise AI Innovation
Loomis Interim Report January – June 2026
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