TV · TV Q2 FY2026 earnings call record财报电话会记录

“During the first half of 2026, our Residential and Enterprise revenue of MXN 23.7 billion increased by 2.6% year-on-year, we are confident this pace of growth is sustainable.”

“This contributed to expanding our annual consolidated operating segment income margin by around 260 basis points to 40.7% from 38.1% three years ago.”

“In the second quarter, our monthly churn rate remained below our historical average of 2% for the fifth consecutive quarter, as we keep focused on value customers while working on customer retention and satisfaction.”

“This marks the best quarter of the last two years and a half at our residential operations from a revenue growth performance standpoint, and compares well to a full year revenue decline of 1.8% and 2.5% in 2025 and 2024 respectively.”

“Net revenue from our enterprise operations of MXN 1 billion increased by 0.8% year-on-year is growing considerably relative to strong growth experienced in the first quarter as most of the revenue increase that we expected for this year at our enterprise operations already took place.”

“To sum up, segment revenue of MXN 14.3 billion fell by 3% year-on-year while operating segment income of MXN 6 billion increased by 5%, showing sustained momentum on the growth rebound experienced over the last two quarters, driven by an OpEx decline of 8%.”

“Our operating segment income margin of 41.8% expanded by 310 basis points year-on-year, making it the best quarter of the last three years in terms of profitability, driven by efficiency measures that we have been implementing and synergies that have been ongoing integration between Sky and Izzi.”

“Finally, operating cash flow for Cable and Sky, which is equivalent to RevOps minus CapEx, was MXN 2.4 billion in the second quarter, accounting for 16.6% of sales.”

“CapEx for the quarter was MXN 36 million compared to MXN 23 million last year, but we continue to expect full year 2026 CapEx to be consistent with full year 2025 levels.”

“At the same time, that provides the customers with satisfaction.”

“When you divide our subscriber base, the existing subscriber base, the customers that are with us for longer than 12 months, our churn there is significantly lower than the average.”

“You can see it reflects on their CapEx, which is significantly higher than ours for those acquisitions.”