Investor Presentaiton
102
ANNUAL INTEGRATED REPORT 2021 | AXTEL
Financial Position as of December 31, 2021, and as of December 31,
2020
Assets. As of December 31, 2021, total assets amounted Ps. 19,974 million
compared to Ps. 23,704 million as of December 31, 2020, a decrease of Ps
3,729 million, or 16%.
Cash and equivalents. As of December 31, 2021, cash and equivalents
totaled Ps. 1,614 million compared to Ps. 3,124 million as of December
31, 2020, a decrease of Ps. 1,510 million or 48%, largely derived from the
US$60 million redemption of the 2024 Senior Notes ("Notes") in March
2021, as well as the US$20 million payment of one of the committed line
facilities in September 2021.
Accounts Receivable. As of December 31, 2021, accounts receivable
amounted Ps. 1,695 million compared to Ps. 1,795 million as of December
31, 2020, a decrease of Ps. 100 million, or 6%.
Property, systems and equipment, net. As of December 31, 2021, property,
systems and equipment, net, were Ps. 10,133 million compared to Ps.
11,578 million as of December 31, 2020. Without deducting accumulated
depreciation, Property, systems, and equipment totaled Ps. 47,995 million
and Ps. 50,791 million as of December 31, 2021, and 2020, respectively.
Liabilities. As of December 31, 2020, total liabilities amounted to Ps.
17,105 million compared to Ps. 20,209 million as of December 31, 2020,
a decrease of Ps 3,104 million or 15%, due to a reduction in debt, mainly
due to the US $60 million prepayment of the Notes in March 2021, the
payment of US $20 million of a committed line facility in September 2021
and the full prepayment of short-term lines that were drawn down to
strengthen liquidity against COVID-19.
Accounts payable. As of December 31, 2021, accounts payable
amounted to Ps. 2,138 million compared to Ps. 2,376 million as of
December 31, 2020, a decrease of Ps. 238 million or 10%.
Debt. As of December 31,2021, net debt was US $574 million, a
decrease of 5% or US $28 million in comparison with year-end
2020; comprised of a US $113 million decrease in debt, a US $6
million non-cash decrease in debt caused by an 3% depreciation
of the Mexican peso year-over-year and a US $91 million decrease
in cash.
Total debt reduction of US $113 million year-over-year is explained
by i) a US $60 million decrease related to the partial redemption
of the 2024 Senior Notes in March 2021; ii) a US $36 million
decrease in bank loans, including the US $20 million reduction
in the drawn down amount under a committed line facility in
September 2021; iii) a US $13 million decrease in other loans
and financial leases; and iv) a US $4 million decrease due to the
amortization of the long-term facility.
Stockholders' equity. As of December 31, 2021, the Company's
stockholders equity amounted Ps. 2,870 million compared to
Ps. 3,495 million as of December 31, 2020, a decrease of Ps. 625
million or 18%. The capital stock totaled Ps. 464 million as of
December 31, 2021, and 2020.
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