Telmex deepens its net loss by 61%, one of the most critical in 24 months

Mexico Phones (Telmex), an operator with 280,000 kilometers of optical fiber such as network lines and 21 million subscriptions between fixed telephony and Internet, reported a net loss of 2,731 million pesos in the third quarter of the year, which means a deepening of 60.74% in its losses in comparison with the result of the same quarter of 2021.

A year earlier, the company had reported a net loss of 1,699 million pesos for the July-September period.

The company attributed the growth in its net loss to factors such as interest charges, financing costs, expenses, debt and labor liabilities.

The company’s loss for the July-September 2022 quarter is higher than the 2,525 million pesos that Telmex reported in the third quarter of 2020.

Telmex also reported a debt of 37,964 million pesos in the quarter, 43.3% to the level of debt registered in the third quarter of 2021.

Despite this context, the telephone company invested 1,450 million pesos in the last three months, 41.9% compared to the figure for a year ago. The company’s investment was directed to the construction and maintenance of transport networks and access networks.

Between July and September 2022, Telmex invoiced 24,257 million pesos, 2.5% above the record of a year before, of 23,675 million pesos.

The company announced that for the quarter it served 10 million 121,000 broadband Internet subscriptions and 11 million fixed voice lines, totaling 21.12 million revenue-generating units (RGUs).

The Ebitda for Telmex in this quarter it was 6,090 million pesos, 4.9% below the 6,403 million pesos of the same tranche of 2021.