Axtel reports a drop in income, but improves its profile in debt, investment and profits

Axtelthe group’s telecommunications arm Alfa, reported a 10.15% decrease in its quarterly revenues for the January-March 2022 period, after entering 2,547 million pesos in the quarter; that is, Axtel stopped receiving 288 million pesos in that period in relation to the first quarter of 2021.

The company said that the shortage of supplies for its business solutions, a poor performance of the segment of government contracts and the financial state that it is also going through Gazebo Redeswhere Axtel is a minority shareholder, affected its quarterly result.

“The results of the quarter were affected by the limitations in the supply chain, which showed signs of improvement in recent weeks, as well as by the poor performance of the government segment and the reduction in revenues from Altán and from fiber contracts. dark in the Infrastructure Unit (…) Axtel promotes the digital transformation of business customers, who are adopting hybrid work schemescontributing to 27% growth in cloud and cybersecurity solutions revenue during the quarter,” the company said.

Even with the decrease in its general income, the company increased its investment in infrastructure deployment by 21%, from 274 million pesos in the first quarter of 2021, to 333 million pesos in the first quarter of 2022. Measured in dollars, the Axtel’s investment in the first quarter of the year was 16 million dollars.

The company also reduced debt this quarter. At the beginning of the 2021 financial year, Axtel’s debt with its creditors amounted to 627 million pesos, but this was reduced by 42 million pesos for the first quarter of this year and stood at 585 million pesos.

Axtel reported a net profit of 111 million pesos for the January-March 2022 quarter, contrary to the net loss a year ago, then of 286 million pesos.

During the first quarter, the company approved establishing a maximum amount of 200 million pesos for its share buyback program in 2022, maintaining the same amount approved the previous year.