—The increase of 121,572 net subscribers for Totalplay Residential reflects strong demand for the company’s technologically advanced internet services—
—EBITDA less Capex and interest reached Ps.769 million in the period—
—Debt with cost is reduced by 5%,
further strengthening Total Play’s capital structure—
MEXICO CITY, July 27, 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 second quarter of 2026.
“The solid increase of 121,572 net subscribers for Totalplay Residential in the quarter — which results from strong demand for our technologically advanced internet services — was consistent with the optimization of the use of our fiber optic network, which allowed us to increase the number of users without additional investment in geographic coverage, supporting the performance of the company’s financial results,” commented Eduardo Kuri, CEO of Total Play.
“Regarding the balance sheet, we reduced Total Play’s debt with cost by 5%, as a result of various amortizations during the period, including US$31 million of the Senior Secured Notes due 2028, which were paid in the first half of the year according to their amortization schedule, and US$56 million of the remaining Senior Notes due 2025, which were paid in the fourth quarter of the previous year,” Mr. Kuri added. “Similarly, we reduced trade payables by 9% and lease liabilities by 26%, which further strengthened the company’s capital structure.”
Second quarter results
Revenue for the quarter was Ps.11,360 million, compared to Ps.11,551 million for the same period of the prior year. Total costs and expenses were Ps.6,286 million from Ps.6,152 million in the prior year.
As a result, Total Play’s EBITDA was Ps.5,074 million, compared to Ps.5,399 million a year ago; EBITDA margin for the quarter was 45%. The company reported operating profit of Ps.654 million, up from Ps.495 million a year earlier.
Total Play reported a net loss of Ps.362 million, compared to a net income of Ps.180 million in the same quarter of 2025.
Q2 2025
Q2 2026
Change
Ps.
%
Revenue from services
$11,551
$11,360
$(191)
(2) %
EBITDA
$5,399
$5,074
$(325)
(6) %
Operating income
$495
$654
$159
32 %
Net result
$180
$(362)
$(542)
—-
Amounts in millions of pesos.
EBITDA: Earnings before interest, taxes, depreciation, and amortization.
Revenue from services
The company’s revenue decreased 2%, as a result of 1% growth in residential segment sales and a 16% reduction in enterprise revenue.
Totalplay Residential’s revenue increased to Ps.9,983 million, up from Ps.9,906 million the previous year, linked to a 6% increase in the number of the company’s service subscribers compared to the same quarter of the previous year, reaching 5,675,946 this period — a figure that includes 68,314 small and medium-sized businesses. Compared to the previous quarter, the subscriber base increased by 121,572 users. The company believes that the number of users 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.580, down from Ps.607 a year ago. The decline in ARPU is largely due to a growing proportion of double-play subscribers compared to triple-play users 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, up from 17.6 million 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, compared to 30.4% a year ago.
Revenue from the enterprise segment was Ps.1,377 million, from Ps.1,645 million in the previous year. The reduction is due to predetermined duration projects that were completed during this period.
Costs and expenses
Total costs and expenses increased 2%, as a result of a 3% increase in service costs and a 2% increase in general expenses.
The increase in costs, to Ps.1,677 million, from Ps.1,630 million in the previous year, resulted mainly from higher costs related to memberships, maintenance and support, partially offset by lower costs related to business projects and reduced content costs, as a result of a higher proportion of double play users in the residential service subscriber mix.
The increase in expenses, to Ps.4,609 million, from Ps.4,522 million, reflects higher personnel, advertising and promotion expenses during the period.
EBITDA and net result
Total Play’s EBITDA was Ps.5,074 million, compared to Ps.5,399 million the previous year.
Relevant variations below EBITDA were the following:
A reduction of Ps.484 million in depreciation and amortization, as a result of the termination of the useful life of a group of assets.
A decrease of Ps.1,219 million in exchange gains, as a result of a net liability monetary position in foreign currency, in conjunction with a lower appreciation of the peso against the basket of currencies in which the company’s monetary liabilities are denominated this quarter, compared to the previous year.
Consistent with the results of the quarter, there was a decrease of Ps.534 million in the tax provision for the period.
Total Play reported a net loss of Ps.362 million, compared to a net income of Ps.180 million in the same period of 2025.
Balance sheet
As of June 30, 2026, the company’s debt with cost was Ps.54,194 million, 5% lower than the Ps.57,030 million of the previous year. This reduction resulted from various debt with cost amortizations during the period, including US$31 million of Senior Secured Notes due 2028, paid in the first half of the year, and US$56 million of the remaining Senior Notes due 2025, paid in November of the previous year.
Lease liabilities were Ps.2,595 million, 26% lower compared to Ps.3,503 million in the previous year.
Cash and cash equivalents, as well as restricted cash in trusts, totaled Ps.6,270 million, from Ps.7,416 million a year ago. As a result, the company’s net debt was Ps.50,519 million, 5% lower compared to Ps.53,117 million in the previous year.
The debt ratio — Net Debt / EBITDA of the last two quarters annualized — was 2.55 times.
Total Play’s fixed assets — which include accumulated investment in fiber optics, telecommunications equipment and subscriber acquisition costs, among other assets — were Ps.78,001 million, compared to Ps.84,216 million a year ago.
Six-month results
Revenue for the first six months of 2026 was Ps.22,537 million, 1% higher than Ps.22,393 million of the previous year, as a result of a 2% increase in residential revenue and a 7% decrease in enterprise revenue. Total costs and expenses grew 6% to Ps.12,614 million, from Ps.11,912 million, driven by a 7% increase in general expenses and a 4% increase in service costs.
Total Play reported EBITDA of Ps.9,923 million, compared to Ps.10,481 million in the previous year; EBITDA margin for the period was 44%. Operating profit was Ps.954 million, down from Ps.1,257 million in the same period of 2025.
The company recorded net loss of Ps.1,689 million, compared to net loss of Ps.1,781 million a year ago.
6M 2025
6M 2026
Change
Ps.
%
Revenue from services
$22,393
$22,537
$144
1 %
EBITDA
$10,481
$9,923
$(558)
(5) %
Operating income
$1,257
$954
$(303)
(24) %
Net result
$(1,781)
$(1,689)
$92
5 %
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.
Consolidated Quarterly Income Statements
(Millions of Mexican pesos)
2Q 25
2Q 26
Change
$
%
$
%
$
%
Revenue from services
11,551
100 %
11,360
100 %
(191)
(2 %)
Cost of services
(1,630)
(14 %)
(1,677)
(15 %)
(47)
(3 %)
Gross profit
9,921
86 %
9,683
85 %
(238)
(2 %)
General expenses
(4,522)
(39 %)
(4,609)
(41 %)
(87)
(2 %)
EBITDA
5,399
47 %
5,074
45 %
(325)
(6 %)
Depreciation and amortization
(4,904)
(42 %)
(4,420)
(39 %)
484
10 %
Operating profit
495
4 %
654
6 %
159
32 %
Financial cost:
Interest revenue
60
1 %
30
0 %
(30)
(50 %)
Accrued interest expense
(1,745)
(15 %)
(1,568)
(14 %)
177
10 %
Change in fair value of financial instruments
(98)
(1 %)
(4)
(0 %)
94
96 %
Other financial income
299
3 %
42
0 %
(257)
(86 %)
Foreign exchange gain – Net
1,947
17 %
728
6 %
(1,219)
(63 %)
463
4 %
(772)
(7 %)
(1,235)
—
Profit (loss) before income tax provisions
958
8 %
(118)
(1 %)
(1,076)
—
Income tax provision
(778)
(7 %)
(244)
(2 %)
534
69 %
Net profit (loss) for the period
180
2 %
(362)
(3 %)
(542)
—
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.
Consolidated Accumulated Income Statements
(Millions of Mexican pesos)
6M 25
6M 26
Change
$
%
$
%
$
%
Revenue from services
22,393
100 %
22,537
100 %
144
1 %
Cost of services
(3,227)
(14 %)
(3,340)
(15 %)
(113)
(4 %)
Gross profit
19,166
86 %
19,197
85 %
31
0 %
General expenses
(8,685)
(39 %)
(9,274)
(41 %)
(589)
(7 %)
EBITDA
10,481
47 %
9,923
44 %
(558)
(5 %)
Depreciation and amortization
(9,224)
(41 %)
(8,969)
(40 %)
255
3 %
Operating profit
1,257
6 %
954
4 %
(303)
(24 %)
Financial cost:
Interest revenue
116
1 %
60
0 %
(56)
(48 %)
Accrued interest expense
(3,516)
(16 %)
(3,149)
(14 %)
367
10 %
Change in fair value of financial instruments
(1,022)
(5 %)
(7)
(0 %)
1,015
99 %
Other financial income
102
0 %
74
0 %
(28)
(27 %)
Foreign exchange gain – Net
1,906
9 %
579
3 %
(1,327)
(70 %)
(2,414)
(11 %)
(2,443)
(11 %)
(29)
(1 %)
Loss before income tax provisions
(1,157)
(5 %)
(1,489)
(7 %)
(332)
(29 %)
Income tax provision
(624)
(3 %)
(200)
(1 %)
424
68 %
Net loss for the period
(1,781)
(8 %)
(1,689)
(7 %)
92
5 %
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.
Consolidated Statements of Financial Position
(Millions of Mexican pesos)
As of June 2025
As of June 2026
Cambio
$
%
$
%
$
%
ASSETS
Current Assets:
Cash and cash equivalents
4,509
4 %
4,442
5 %
(67)
(1 %)
Restricted cash in trusts
2,907
3 %
1,828
2 %
(1,079)
(37 %)
Customers – net
2,958
3 %
3,082
3 %
124
4 %
Recoverable taxes
2,890
3 %
2,290
2 %
(600)
(21 %)
Inventories
2,257
2 %
2,086
2 %
(171)
(8 %)
Derivative financial instruments
4
0 %
–
0 %
(4)
(100 %)
Other current assets
791
1 %
895
1 %
104
13 %
Total current assets
16,316
15 %
14,623
15 %
(1,693)
(10 %)
Non-Current Assets:
Property, plant and equipmente – Net
84,216
80 %
78,001
81 %
(6,215)
(7 %)
Rights-of-use assets -Net
2,434
2 %
1,515
2 %
(919)
(38 %)
Trademarks and other assets
2,444
2 %
2,459
3 %
15
1 %
Total non-current assets
89,094
85 %
81,975
85 %
(7,119)
(8 %)
Total assets
105,410
100 %
96,598
100 %
(8,812)
(8 %)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-Term Liabilities
Financial debt
6,814
6 %
5,856
6 %
(958)
(14 %)
Lease liabilities
2,131
2 %
1,645
2 %
(486)
(23 %)
Trade payables
11,356
11 %
10,345
11 %
(1,011)
(9 %)
Reverse factoring
1,349
1 %
165
0 %
(1,184)
(88 %)
Other short-term liabilities
2,906
3 %
2,848
3 %
(58)
(2 %)
Total short-term liabilities
24,556
23 %
20,859
22 %
(3,697)
(15 %)
Long-Term Liabilities
Financial debt
50,216
48 %
48,338
50 %
(1,878)
(4 %)
Lease liabilities
1,372
1 %
950
1 %
(422)
(31 %)
Employee benefits
109
0 %
158
0 %
49
45 %
Deferred income tax
13,728
13 %
13,528
14 %
(200)
(1 %)
Total long-term liabilities
65,425
62 %
62,974
65 %
(2,451)
(4 %)
Total liabilities
89,981
85 %
83,833
87 %
(6,148)
(7 %)
EQUITY:
Capital stock
8,201
8 %
8,060
8 %
(141)
(2 %)
Retained earnings
(15,656)
(15 %)
(15,958)
(17 %)
(302)
(2 %)
Other comprehensive income
22,884
22 %
20,663
21 %
(2,221)
(10 %)
Total equity
15,429
15 %
12,765
13 %
(2,664)
(17 %)
Total liabilities and equity
105,410
100 %
96,598
100 %
(8,812)
(8 %)
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.
Consolidated Statements of Cash Flows
(Millions of Mexican pesos)
6M 25
6M 26
$
$
Operating activities:
Net loss
(1,781)
(1,689)
Income tax
624
200
Loss before income tax provision
(1,157)
(1,489)
Items not requiring the use of resources:
Depreciation and amortization
9,224
8,969
Employee benefits
17
20
Items related to investing or financing activities:
Accrued interest income
(116)
(60)
Accrued interest expense
3,516
3,149
Other financial transactions
921
(66)
Unrealized exchange gain
(2,120)
(436)
10,285
10,087
Resources (used in) generated by operating activities:
Customers and unearned revenue
160
76
Other receivables
–
2
Related parties, net
(167)
(224)
Taxes to be recovered
828
263
Inventories
451
460
Advance payments
(211)
(208)
Trade payables
(2,418)
(799)
Other payables
105
311
Cash flows generated by operating activities
9,033
9,968
Investing activities:
Acquisition of property, plant and equipment
(5,298)
(5,212)
Other assets
14
–
Collected interest
116
60
Cash flows used in investing activities
(5,168)
(5,152)
Financing activities:
Loans (paid) received
2,989
(554)
Leasing cash flows
(1,349)
(835)
Restricted Cash in Trusts
(519)
(65)
Reverse factoring
(241)
(193)
Interest payment
(3,591)
(3,059)
Cash flows used in financing activities
(2,711)
(4,706)
Net increase in cash and cash equivalents
1,154
110
Cash and cash equivalents at the beginning of the year
3,355
4,332
Cash and cash equivalents at the end of the year
4,509
4,442
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SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.
