The company began July 2024 with a debt of US$ 1,086 million, equivalent to a reduction of 36.8% compared to the debt of 2023.
Telefonos de México (Telmex) recorded a net loss of 4,385 million pesos (US$ 237.5 million) in the first half of 2024, which is 3% above the net loss of 4,264 million pesos (US$ 230 , 9 million) reported a year ago in the same semester.
The fixed telecommunications company with the greatest reach in Mexico - since its consumer base is equivalent in volume to a combined of its competitors Izzi, Megacable and Totalplay - also registered a net loss of 2,979 million pesos (US$ 161.3 million) in the quarter that runs from April to June.
Telmex's loss for the spring quarter of 2024 would be the highest reported by the company in at least 29 months.
The highest and closest loss in time occurred in the third quarter of 2022, when Telmex lost an equivalent of US$ 145.97 million and in turn, almost 61% above the third quarter of 2020, until then the deepest loss recorded. by the company in its financial statements.
Telefonos de México attributed its quarterly and semi-annual losses to different factors, such as, for example, a net charge of 4,112 million pesos (US$222.7 million), another charge of 611 million pesos (US$33 million) related to leases , also one more for 3,286 million pesos (US$ 178 million) related to its employee benefit obligations and a foreign exchange loss of 215 million pesos (US$ 11,646), all of this only in the second quarter of 2024.
Surprisingly, Telmex invested 6,315 million pesos in the second quarter of 2024, about US$338 million for the period and without fine analysis, this would be the highest investment for the quarter among the four large fixed telecommunications operators in Mexico.
Telefonos de México's investment for the second quarter of 2024 also contrasts with its investment from a year ago for the same period, since in that quarter, the company invested 1,024 million pesos, about 61.1 million dollars, during the second quarter of 2023.
Telmex's investment for that same period in 2023 was the lowest level for a second quarter in more than five years, being 41.85% below the Capex reported by the company for the second quarter of 2022, of 1,761 million pesos (US$ 95,390 million), and by 67.39% for the same quarter of 2018, from 3,141 million pesos (US$ 170 million); Hence, the investment of more than 6,000 million pesos (US$ 325 million) for the same quarter of 2024 is relevant.
Telmex said that the quarter's investments were directed towards the growth and maintenance of Infinitum's transport networks and access networks, and also in the creation of new products for its consumers.
In terms of users, the company closed the June quarter with 21,724,000 accesses served, including 10,962,000 Infinitum subscriptions and 10,762,000 fixed voice lines.
Telmex earned 26,335 million pesos (US$ 1,427 million) in the quarter, an increase of 5.4% compared to the same quarter in 2023 and its Ebitda stood at 6,837 million pesos (US$ 370 million).
The América Móvil firm began July 2024 with a debt of 20,061 million pesos (more than US$ 10,086 million), equivalent to a 36.8% reduction compared to the 2023 debt.
