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February 28, 2008 |
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AXTEL SAB: Earns MXN491 Million in 2007 Axtel, S.A.B. de C.V., said that its net profit increased 121% to MXN491 million in 2007, from 2006. As reported in the Troubled Company Reporter-Latin America on Feb. 27, 2008, Axtel released its unaudited fourth quarter results ended Dec. 31, 2007. The company said that for the fourth quarter of 2007, the gross profit accounted for MXN1,870.2 million, an increase of MXN428.3 million or 30%, compared with the same period in year 2006. For the fourth quarter of year 2007, operating expenses grew MXN134.8 million, or 18%, totaling MXN867.7 million compared to MXN732.9 million for the same period in year 2006. The company said that its operating income totaled MXN405.8 million in the three-month period ended Dec. 31, 2007, compared to an operating income of MXN255.9 million registered in the same period in year 2006, an increase of MXN149.9 million or 59%. For the twelve-month period ended Dec. 31, 2007, Axtel's operating income reached MXN1,393.8 million when compared to the result registered in the same period of year 2006 of MXN751.2 million, MXN642.6 million or 86% above. The company also reported comprehensive financial loss was MXN81.6 million for the three-month period ended Dec. 31, 2007, compared to a loss of MXN93.7 million for the same period in 2006. Business News Americas relates that Axtel's net profit rose 44% to MXN120 million in the fourth quarter 2007, compared to the fourth quarter 2006. According to BNamericas, Axtel's revenues increased 83% to MXN12.2 billion in 2007, compared to 2006. The revenues rose 37% to MXN2.99 billion in the fourth quarter 2007, from the same period in 2006. BNamericas notes that Axtel's Ebitda increased 77% to MXN4.08 billion in 2007, from 2006 and rose 41% to MXN1.00 billion in the fourth quarter 2007, compared to the same quarter in 2006. Axtel had 932,000 lines in service in 2007, 18% greater than 2006. Its Internet line rose 4% to 109,000. Its broadband subscribers increased 29% to 76,000 in the fourth quarter 2007, compared to 58,000 in the fourth quarter 2006, BNamericas states. Headquartered in Monterrey, Mexico, Axtel S.A.B. de C.V. (BMV: AXTELCPO; OTC: AXTLY) was formerly known as Axtel SA DE CV. The company's principal activity is providing local and long- distance domestic and international telephony, data and Internet services, virtual private networks and value added services. Services include different access technologies such as fixed wireless telephony, point-to-point and point-to-multi point radio links, and copper and fiber optic connections. Basic services are divided into 5 categories such as voice, conference call, data, Internet and bundles. It offers basic telecommunications infrastructure in Mexico through an intelligent network that provides extensive coverage to all markets. It currently operates in Mexico City, Monterrey, Guadalajara, Puebla, Leon, Toluca, Queretaro, San Luis Potosi, Aguascalientes, Saltillo, Ciudad Juarez, Tijuana, La Laguna, Veracruz and Chihuahua. * * * As reported in the Troubled Company Reporter-Latin America on Nov. 8, 2007, Moody's Investors Service upgraded Axtel, S.A.B. de C.V.'s corporate family rating to Ba2 from Ba3 based on the rapid improvement of the company's credit metrics to levels prior to the acquisition of Avantel as well as expected improvements in free cash flow generation. Moody's says the outlook is now stable. |
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