Megacable adds 84,000 unique subscribers to its customer base in the third quarter

Megacable highlighted the addition of 84,000 unique subscribers during the third quarter of 2022, the highest growth since the Covid-19 pandemic began, with which the company reached 4.3 million subscribers.

The company highlighted the increase in the number of subscribers of its three mass services. In the quarter, the Internet segment registered 260,000 new accounts, which is equivalent to 6.9% more compared to the third quarter of 2021, with more than four million subscribers, while the telephony and video business registered 329,000 and 76,000 net additions, with increases of 11.2% and 2.2%, respectively.

“This was the result of a successful sales strategy, including expansion to new cities, while the disconnection rate was reduced compared to 2Q22,” Megacable said in a statement.

Total revenues for the third quarter were 6,737 million pesos, a record figure for Megacable in a quarter, registering an increase of approximately 10% compared to the third quarter of 2021.

The mass segment increased 6.5%, as a result of the increase in subscribers and income from additional services.

In the telecom business segment, revenues increased 26.2% compared to the third quarter of 2021. The foregoing was mainly driven by growth in MetroCarrier of 34.2%, due to special projects in the business market. While ho1a and MCM registered growth of 17.2% and 16.4%, respectively.

Consolidated EBITDA reached 3,168 million pesos during the third quarter of the year, growing 5.1% compared to the same period of the previous year and with a consolidated margin of 47.0 percent.

Adjusted EBITDA from Cable operations continues the growth trend to stand at 2,980 million, which represents an increase of 4.6% compared to the third quarter of 2021, with a margin of 48.6 percent.

The report reported on the placement of stock certificates on July 15 of this year, for an amount of 7,000 million pesos, an issue that had ‘AAA(mex)’ and HR AAA ratings by Fitch Ratings and HR Ratings, respectively. .

With information from Nicholas Lucas.