—The corporate stories EBITDA margin of 48%; the best possible stage since General Play games problems nation debt—
—Capex for the quarter was once an identical to 26.5% of the corporate’s income, in comparison to Capex an identical of 36.9% of income a occasion in the past—
—Stability of EBITDA, much less Capex and hobby, reached Playstation.781 million within the duration—
MEXICO CITY, Oct. 23, 2024 /PRNewswire/ — General Play games Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a chief telecommunications corporate in Mexico, which trade in web get entry to, pay tv and telephony products and services, via one of the vital biggest 100% fiber ocular networks within the nation, introduced these days monetary effects for the 3rd 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 General Play games. “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.
3rd quarter effects
Income for the quarter was once Playstation.11,117 million, 10% above the Playstation.10,137 million of the similar duration of the former occasion. General prices and bills have been Playstation.5,727 million, in comparison to Playstation.5,323 million of the former occasion.
Because of this, General Play games’s EBITDA grew 12% to Playstation.5,390 million from Playstation.4,814 million a occasion in the past; EBITDA margin for the quarter was once 48%, one share level upper from the similar quarter in 2023. The corporate recorded running source of revenue of Playstation.1,147 million, in comparison to Playstation.819 million a occasion in the past.
General Play games reported web lack of Playstation.1,087 million, from a lack of Playstation.2,130 million in the similar quarter of 2023.
|
Q3 2023 |
Q3 2024 |
Exchange |
||
|
Playstation. |
% |
|||
|
Income from products and services |
$10,137 |
$11,117 |
$980 |
10 % |
|
EBITDA |
$4,814 |
$5,390 |
$576 |
12 % |
|
Running source of revenue Web consequence |
$819 $(2,130) |
$1,147 $(1,087) |
$328 $(1,043) |
40% 49% |
|
Quantities in tens of millions of pesos. |
|
EBITDA: Profits earlier than hobby, taxes, depreciation, and amortization. |
Carrier income
The corporate’s income grew 10%, because of an 8% building up in gross sales within the residential section and a 22% building up in revenues from the endeavor trade.
Totalplay Residencial’s income enlargement to Playstation. 9,544 million, in comparison to Playstation. 8,847 million a occasion previous, pertains to a 9% building up within the choice of subscribers to the corporate’s products and services, from the similar quarter a occasion in the past, to achieve 5,124,433 this era, together with 69,572 tiny and medium-sized companies. The corporate considers that the choice of customers reached this quarter displays its noteceable capability to trade in technologically complex web products and services — with admirable steadiness and pace — steady innovation in its leisure platform, and an finest provider.
In comparison to the former quarter, the subscriber bottom grew through 115,342 customers, in sequence with General Play games’s technique of moderating its subscriber bottom enlargement.
Reasonable income consistent with subscriber (ARPU) for the quarter was once Playstation.617, in comparison to Playstation.630 a occasion in the past and with Playstation.612 from the former quarter.
As in the past introduced, the corporate’s geographic protection funding program was once finished all over the primary quarter of 2023. Accordingly, the choice of houses handed in Mexico on the finish of this era was once 17,588,706, a determine with minor permutations in comparison to 17,531,567 a occasion in the past.
Penetration — the share of houses handed through General Play games that experience the corporate’s telecommunications products and services — was once 29.1% on the finish of the quarter, up from 26.8% a occasion in the past.
The endeavor section’s income was once Playstation.1,573 million, up from Playstation.1,289 million within the earlier occasion, because of the forming of diverse organizations´ tasks in fresh months.
Prices and bills
General prices and bills higher 8%, because of a 5% building up in provider prices and a 9% enlargement basically bills.
The rise in prices to Playstation.1,918 million from Playstation.1,827 million within the earlier occasion is essentially because of upper prices related to trade tasks, hyperlinks, and memberships. This building up was once partly offset through decrease content material and licensing prices.
The rise in bills to Playstation.3,809 million, from Playstation.3,496 million, displays upper upkeep and charges bills, within the context of the corporate’s rising operations. This building up was once partly offset through discounts in promoting and team of workers bills.
Prices and bills for the quarter grew at a slower price than revenues, because of methods that generate forged operational efficiencies.
EBITDA and web consequence
General Play games’s EBITDA was once Playstation.5,390 million, 12% upper in comparison to Playstation.4,814 million of the former occasion.
Related permutations under EBITDA have been please see:
An building up of Playstation.248 million in depreciation and amortization was once principally because of subscriber acquisition prices — together with telecommunications apparatus, hard work, and set up bills.
An building up of Playstation.228 million in hobby expense in line with the monetary debt stability variation, because of the alternate price depreciation impact on dollar-denominated debt this quarter, in addition to upper debt prices.
Building up of Playstation.863 million in foreign currency loss, because of the online financial legal responsibility place in foreign currency echange, along side a bigger depreciation this quarter of the peso in opposition to the basket of currencies by which the corporate’s financial liabilities are denominated, in comparison to the former occasion.
General Play games reported a web lack of Playstation.1,087 million, in comparison to a lack of Playstation.2,130 million in the similar duration of 2023.
Stability sheet
As of September 30, 2024, the Corporate’s debt with value was once Playstation.53,736 million, in comparison to Playstation.50,280 million within the earlier occasion. The rise displays the impact of alternate price depreciation on dollar-denominated debt.
Hire liabilities have been Playstation.4,814 million, 24% decrease in comparison to Playstation.6,374 million of the former occasion.
Money and money equivalents, plus limited money held in trusts, totaled Playstation.5,886 million, a 6% building up from Playstation.5,578 million a occasion in the past. In consequence, the corporate’s web debt was once Playstation.52,664 million, in comparison to Playstation.51,076 million a occasion in the past.
The debt ratio — Web Debt / EBITDA for the latter two annualized quarters — was once 2.51 instances, because of forged EBITDA enlargement, along side higher relative steadiness of the online debt stability.
General Play games’s mounted belongings — together with amassed investments in fiber optics, telecommunications apparatus, subscriber acquisition prices, and alternative belongings — was once Playstation.62,229 million, in comparison to Playstation.60,365 million a occasion in the past.
9 months effects
Revenues for the primary 9 months of 2024 have been Playstation.33,355 million, 12% upper than Playstation.29,830 million within the earlier occasion, because of an 8% building up in residential revenues and a 32% enlargement in endeavor revenues. General prices and bills rose 10% to Playstation.17,881 million from Playstation.16,205 million, because of a 12% building up in provider prices and a ten% enlargement basically bills.
General Play games reported EBITDA of Playstation.15,474 million, a 14% building up from Playstation.13,625 million the former occasion. The EBITDA margin for the duration was once 46%. Running source of revenue reached Playstation.2,872 million, up from Playstation.1,711 million in the similar duration of 2023.
The corporate recorded a web lack of Playstation.5,984 million, in comparison to a lack of Playstation.2,123 million a occasion in the past.
|
9M 2023 |
9M 2024 |
Exchange |
||
|
Playstation. |
% |
|||
|
Income from products and services |
$29,830 |
$33,355 |
$3,525 |
12 % |
|
EBITDA |
$13,625 |
$15,474 |
$1,849 |
14 % |
|
Running source of revenue Web consequence |
$1,711 $(2,123) |
$2,872 $(5,984) |
$1,161 $(3,861) |
68% —- |
|
Quantities in tens of millions of pesos. |
|
EBITDA: Profits earlier than hobby, taxes, depreciation, and amortization. |
About General Play games
General Play games is a chief Triple Play games supplier in Mexico that, due to the widest direct-to-home fiber ocular community within the nation, trade in leisure and technologically complex products and services with the best possible detail and pace available in the market. For the original information and updates about General Play games, discuss with: www.totalplay.com.mx.
General Play games is a Grupo Salinas corporate (www.gruposalinas.com), a bunch of dynamic, fast-growing, and technologically complex firms concerned about growing financial worth via marketplace innovation and items and products and services that make stronger requirements of residing; social worth to make stronger nation well-being; and environmental worth through lowering the detrimental have an effect on of its trade actions. Created through Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a control construction and determination discussion board for the govern leaders of member firms. Every of the Grupo Salinas firms operates independently, with its personal control, board of administrators, and shareholders. Grupo Salinas has disagree fairness holdings. The crowd of businesses stocks a ordinary sight, values, and techniques for attaining fast enlargement, admirable effects, and world-class efficiency.
Apart from for historic data, the issues mentioned on this press loose are ideas in regards to the month that contain dangers and suspicion that can purpose unedited effects to fluctuate materially from the ones projected. Alternative dangers that can have an effect on General Play games and its subsidiaries are offered in paperwork despatched to the securities government.
|
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES |
|||||||||
|
CONSOLIDATED QUARTERLY INCOME STATEMENTS |
|||||||||
|
(Hundreds of thousands of Mexican pesos) |
|||||||||
|
3Q23 |
3Q24 |
Exchange |
|||||||
|
$ |
% |
$ |
% |
$ |
% |
||||
|
Income from products and services |
10,137 |
100 % |
11,117 |
100 % |
980 |
10 % |
|||
|
Value of products and services |
(1,827) |
(18 %) |
(1,918) |
(17 %) |
(91) |
(5 %) |
|||
|
Rude benefit |
8,310 |
82 % |
9,199 |
83 % |
889 |
11 % |
|||
|
Normal bills |
(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 %) |
|||
|
Running benefit |
819 |
8 % |
1,147 |
10 % |
328 |
40 % |
|||
|
Monetary value: |
|||||||||
|
Pastime income |
48 |
0 % |
91 |
1 % |
43 |
90 % |
|||
|
Exchange in honest worth of economic tools |
(135) |
(1 %) |
(110) |
(1 %) |
25 |
19 % |
|||
|
Collected hobby expense |
(1,386) |
(14 %) |
(1,614) |
(15 %) |
(228) |
(16 %) |
|||
|
Alternative monetary bills |
(121) |
(1 %) |
(134) |
(1 %) |
(13) |
(11 %) |
|||
|
Foreign currency echange loss – Web |
(701) |
(7 %) |
(1,564) |
(14 %) |
(863) |
(123 %) |
|||
|
(2,295) |
(23 %) |
(3,331) |
(30 %) |
(1,036) |
(45 %) |
||||
|
Loss earlier than source of revenue tax provisions |
(1,476) |
(15 %) |
(2,184) |
(20 %) |
(708) |
(48 %) |
|||
|
Source of revenue tax provision |
(654) |
(6 %) |
1,097 |
10 % |
1,751 |
n.m. |
|||
|
Web loss for the duration |
(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 |
|||||||||
|
(Hundreds of thousands of Mexican pesos) |
|||||||||
|
Amassed |
Amassed |
||||||||
|
9M23 |
9M24 |
Exchange |
|||||||
|
$ |
% |
$ |
% |
$ |
% |
||||
|
Income from products and services |
29,830 |
100 % |
33,355 |
100 % |
3,525 |
12 % |
|||
|
Value of products and services |
(5,737) |
(19 %) |
(6,400) |
(19 %) |
(663) |
(12 %) |
|||
|
Rude benefit |
24,093 |
81 % |
26,955 |
81 % |
2,862 |
12 % |
|||
|
Normal bills |
(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 %) |
|||
|
Running benefit |
1,711 |
6 % |
2,872 |
9 % |
1,161 |
68 % |
|||
|
Monetary value: |
|||||||||
|
Pastime income |
138 |
0 % |
235 |
1 % |
97 |
70 % |
|||
|
Exchange in honest worth of economic tools |
(463) |
(2 %) |
(1,124) |
(3 %) |
(661) |
(143 %) |
|||
|
Collected hobby expense |
(4,067) |
(14 %) |
(4,656) |
(14 %) |
(589) |
(14 %) |
|||
|
Alternative monetary bills |
(338) |
(1 %) |
(78) |
(0 %) |
260 |
77 % |
|||
|
Foreign currency echange achieve (loss) – Web |
2,771 |
9 % |
(3,627) |
(11 %) |
(6,398) |
n.m. |
|||
|
(1,959) |
(7 %) |
(9,250) |
(28 %) |
(7,291) |
n.m. |
||||
|
Fairness hobby in web result of non-controlling entities |
(19) |
(0 %) |
– |
0 % |
(19) |
(100 %) |
|||
|
Loss earlier than source of revenue tax provisions |
(267) |
(1 %) |
(6,378) |
(19 %) |
(6,111) |
n.m. |
|||
|
Source of revenue tax provision |
(1,856) |
(6 %) |
394 |
1 % |
(2,250) |
(121 %) |
|||
|
Web loss for the duration |
(2,123) |
(7 %) |
(5,984) |
(18 %) |
(3,861) |
(182 %) |
|||
|
TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES |
||||||||||
|
CONSOLIDATED BALANCE SHEETS |
||||||||||
|
(Hundreds of thousands of Mexican pesos) |
||||||||||
|
As of September 30, |
||||||||||
|
2023 |
2024 |
Exchange |
||||||||
|
$ |
% |
$ |
% |
$ |
% |
|||||
|
Belongings |
||||||||||
|
CURRENT ASSETS |
||||||||||
|
Money and money equivalents |
1,750 |
2 % |
3,507 |
4 % |
1,757 |
100 % |
||||
|
Limited money in trusts |
3,828 |
4 % |
2,379 |
3 % |
(1,449) |
(38 %) |
||||
|
Consumers – web |
4,445 |
5 % |
3,877 |
5 % |
(568) |
(13 %) |
||||
|
Alternative accounts receivable |
187 |
0 % |
149 |
0 % |
(38) |
(20 %) |
||||
|
Recoverable taxes |
4,086 |
5 % |
3,897 |
5 % |
(189) |
(5 %) |
||||
|
Alike events |
264 |
0 % |
272 |
0 % |
8 |
3 % |
||||
|
Inventories |
2,765 |
3 % |
2,486 |
3 % |
(279) |
(10 %) |
||||
|
Pay as you go bills |
516 |
1 % |
494 |
1 % |
(22) |
(4 %) |
||||
|
General fresh belongings |
17,841 |
21 % |
17,061 |
20 % |
(780) |
(4 %) |
||||
|
NON-CURRENT ASSETS |
||||||||||
|
Alike events |
159 |
0 % |
275 |
0 % |
116 |
73 % |
||||
|
Component, plant and equipmente – Web |
60,365 |
70 % |
62,229 |
73 % |
1,864 |
3 % |
||||
|
Rights-of-use belongings -Web |
5,445 |
6 % |
3,642 |
4 % |
(1,803) |
(33 %) |
||||
|
Logos and alternative belongings |
2,181 |
3 % |
2,465 |
3 % |
284 |
13 % |
||||
|
General non-current belongings |
68,150 |
79 % |
68,611 |
80 % |
461 |
1 % |
||||
|
General belongings |
85,991 |
100 % |
85,672 |
100 % |
(319) |
(0 %) |
||||
|
Liabilities and Stockholders’ Fairness |
||||||||||
|
SHORT-TERM LIABILITIES |
||||||||||
|
Monetary debt |
4,448 |
5 % |
6,137 |
7 % |
1,689 |
38 % |
||||
|
Hire liabilities |
2,399 |
3 % |
2,468 |
3 % |
69 |
3 % |
||||
|
Industry payables |
13,274 |
15 % |
16,034 |
19 % |
2,760 |
21 % |
||||
|
Opposite factoring |
2,225 |
3 % |
1,488 |
2 % |
(737) |
(33 %) |
||||
|
Alternative payables and payable taxes |
2,013 |
2 % |
2,106 |
2 % |
93 |
5 % |
||||
|
Alike events |
863 |
1 % |
1,309 |
2 % |
446 |
52 % |
||||
|
Liabilities from guarantees with consumers |
681 |
1 % |
400 |
0 % |
(281) |
(41 %) |
||||
|
Pastime payable |
430 |
1 % |
79 |
0 % |
(351) |
(82 %) |
||||
|
By-product monetary tools |
57 |
0 % |
10 |
0 % |
(47) |
(82 %) |
||||
|
General non permanent liabilities |
26,390 |
31 % |
30,031 |
35 % |
3,641 |
14 % |
||||
|
LONG-TERM LIABILITIES |
||||||||||
|
Monetary debt |
45,832 |
53 % |
47,599 |
56 % |
1,767 |
4 % |
||||
|
Hire liabilities |
3,975 |
5 % |
2,346 |
3 % |
(1,629) |
(41 %) |
||||
|
By-product monetary tools |
2,086 |
2 % |
– |
0 % |
(2,086) |
(100 %) |
||||
|
Worker advantages |
56 |
0 % |
101 |
0 % |
45 |
80 % |
||||
|
Deferred source of revenue tax |
4,211 |
5 % |
5,517 |
6 % |
1,306 |
31 % |
||||
|
General long-term liabilities |
56,160 |
65 % |
55,563 |
65 % |
(597) |
(1 %) |
||||
|
General liabilities |
82,550 |
96 % |
85,594 |
100 % |
3,044 |
4 % |
||||
|
STOCKHOLDERS’ EQUITY |
3,441 |
4 % |
78 |
0 % |
(3,363) |
(98 %) |
||||
|
General liabilities and stockholders’ fairness |
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 |
|||||
|
(Hundreds of thousands of Mexican pesos) |
|||||
|
ninth months duration ended |
|||||
|
September 30, |
|||||
|
2023 |
2024 |
||||
|
Running actions: |
|||||
|
Loss earlier than source of revenue tax provision |
(267) |
(6,378) |
|||
|
Pieces now not requiring the significance of assets: |
|||||
|
Depreciation and amortization |
11,914 |
12,602 |
|||
|
Worker advantages |
7 |
26 |
|||
|
Pieces similar to making an investment or financing actions: |
|||||
|
Collected hobby source of revenue |
(138) |
(235) |
|||
|
Collected hobby expense and alternative monetary transactions |
4,880 |
5,857 |
|||
|
Unrealized alternate (achieve) loss |
(2,832) |
3,647 |
|||
|
Non-controlling participation |
19 |
– |
|||
|
13,583 |
15,519 |
||||
|
Sources (old in) generated through running actions: |
|||||
|
Consumers and unearned income |
756 |
(45) |
|||
|
Alternative receivables |
49 |
35 |
|||
|
Alike events, web |
420 |
354 |
|||
|
Taxes to be recovered |
(275) |
244 |
|||
|
Inventories |
(423) |
441 |
|||
|
Travel bills |
392 |
35 |
|||
|
Industry payables |
2,587 |
2,505 |
|||
|
Alternative payables |
(427) |
684 |
|||
|
Money flows generated through running actions |
16,662 |
19,772 |
|||
|
Making an investment actions: |
|||||
|
Acquisition of attribute, plant and gear |
(11,815) |
(8,902) |
|||
|
Alternative belongings |
(63) |
(120) |
|||
|
Gathered hobby |
138 |
235 |
|||
|
Money flows (old in) making an investment actions |
(11,740) |
(8,787) |
|||
|
Financing actions: |
|||||
|
Loans gained |
3,304 |
(2,165) |
|||
|
Leasing money flows |
(1,936) |
(1,796) |
|||
|
Limited Money in Trusts |
(1,841) |
998 |
|||
|
Opposite factoring |
(466) |
(746) |
|||
|
By-product monetary tools |
(315) |
(1,522) |
|||
|
Pastime cost |
(3,808) |
(4,624) |
|||
|
Cahs flows old in financing actions |
(5,062) |
(9,855) |
|||
|
Web building up (trim) in money and money equivalents |
(140) |
1,130 |
|||
|
Money and money equivalents at first of the occasion |
1,890 |
2,377 |
|||
|
Money and money equivalents on the finish of the occasion |
1,750 |
3,507 |
|||
SOURCE General Play games Telecomunicaciones, S.A.P.I. de C.V.
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