Megacable Announces Audited Consolidated Financial Results for the First Quarter of 2017
May 03, 2017 at 11:00 am EDT
Share
Megacable announced audited consolidated financial results for the first quarter of 2017. Revenue growth was 6% in the first quarter to reach MXN 4,290 million. Consolidated EBITDA grew 6% in the first quarter 2017, compared to the same period in 2016, reaching MXN 1,872 million for an EBITDA margin of 43.6%, while adjusted EBITDA for cable operations rose 5% in the same period to total MXN 1,754 million. Reaching the margin or cable revenues of 46.8% is still one of the best in the industry. Net income in first quarter 2017 totaled MXN 1,057 million, 4% growth compared to the same period in 2016, mainly due to the increase in depreciation coming from the CapEx acquired, during the previous year. Megacable's net debt reached MXN 741 million, mainly conclusion of the CFE project and the payment of the loan associated to it. CapEx during the first quarter the company invested MXN 849 million.
Megacable Holdings SAB de CV is a Mexico-based company principally engaged in the provision of cable service. The Companyâs activities are structured in five segments: Cable Network, Internet, Telephone, Business and Other. The Cable Network division distributes television (TV) broadcasting programs via cable. The Internet division provides Internet services to individual and corporate customers. The Telephone delivers fixed-line communication services to individual and corporate customers. The Business division focuses on designing and developing information technology (IT) infrastructure and equipment for business customers. The Other division mainly includes selling of advertising time, producing TV programs and other network services. The Company operates under various brand names, such as Megacable and Metrocarrier. It operates through Acotel SA de CV, Giga Cable SA de CV and Grupo Lipsio SAPI de CV, among others.
MEGACABLE HOLDINGS, S. A. B. DE C. V. 
