Megacable Holdings is presented in 2023 as one of the fixed telecommunications companies with the best performance in practically all areas in the year that just ended. In principle with the continuity of an investment of 2,000 million dollars to be exhausted in 2025 in new deployments of transport networks, access networks, metropolitan rings and last-mile arrivals to homes in some twenty markets where previously there was no their products, for example the CDMX.
This is the company that has presented one of the most spectacular growth in the entire industry in the last five years and to demonstrate it, the results of the third quarters of the past five years can be taken as a reference to find out why third-party companies have tried in more than one occasion to buy Megacable to create a new telecommunications giant in Mexico to serve the mass market and corporate customers, and also to take on Telmex, a brand that itself serves 21.12 million accesses.
The cable company —with its first origins in the West of the Republic in the distribution of pay television and now as one of the first convergent companies in the country and with Jalisco reporting 20% of its national business— has not yet reached the mark again. of the 94 pesos per share that their titles once had on the Mexican Stock Exchange (BMV), due to somewhat unrelated effects such as the performance of the Mexican economy and the Covid-19 pandemic.
Megacable, however, maintains its operation in positive financial terrain. Its EBITDA stood at 3,168 million pesos in the third quarter of 2022, an improvement of 5.1% compared to a year ago, and its EBITDA margin stood at a level of 47 percent.
More in clear terms with the operation of Megacable, in five years —only in the comparison of the third quarters— the company has grown its total income by 38.8%. The most recent data is 6,737 million pesos for the period July-September 2022.
And the company’s investment grew by 90.09% in five years, up to 2,745 million pesos in the third quarter of now last year.
This figure translated into an increase of 22.48% in the growth of its networks, between the construction of new infrastructure with fiber optics and the replacement of copper cables, until now having a network extension of 71,458 kilometers. Megacable Holdings closed the third quarter of 2022 with 10.57 million houses passed, equivalent to a growth of 26.43% compared to five years ago.
All of the above has resulted in 10.87 million revenue-generating units for Megacable, mainly among video, broadband or voice subscriptions. This means that the company grew 39.18% in this area in five years. Until last September, the cable company reached 4 million 274,034 unique clients served throughout Mexico.
Megacable Holdings reported a net profit of 823 million pesos for the period July-September 2022. The data represents a decrease from the record of five years earlier, when it announced net profits of 1,110 million pesos, but this does not indicate that Megacable walk falsely, considered Antonio Sandoval, financial analyst.
“Megacable has recorded spectacular growth in the last five years, perhaps the best in the market. To do this, it is enough to see some of its key indicators to confirm the performance that this company has reported in recent years,” said Sandoval.
“But this growth is not free, Megacable has increased its investments significantly in this period, going from 1,444 million pesos in the third quarter of 2018 to 2,745 million in the same quarter of this year, an increase of 90% , and these strong investments are already reflected in the basic infrastructure for its business (…) All this rain of comparative figures shows that Megacable is living a golden lustrum, consolidating itself as one of the most important companies in its sector in the country”, added the analyst.
At the beginning of 2022, the company indicated that it would enter various markets throughout the year. Since then, it began operations in Mexicali, Tijuana, Ciudad Juárez, Cancún, San Luis Potosí, Saltillo, Aguascalientes, CDMX, Zapopan, Monterrey and Chihuahua, and in October it assured that it would add another 15 cities by the end of 2022, and announced that for In 2023, its objective will be to achieve a fiber optic network with an extension of 151,000 kilometers, twice the length it had in September 2022.
On Wednesday, February 22, 2023, Megacable Holdings will report its results for all of 2022 on the Mexican Stock Exchange. On that day, investors will assess how bright Megacable is to inject capital into it.
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