2020 Annual Report
2020 ANNUAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS
For the years ended December 31, 2020 and 2019, there are no loan balances granted to key administration personnel.
(26) Other assets-
(27) Cash changes considered part of financing activities-
The net debt as at December 31, 2020 and 2019 is integrated as follows:
Other permanent investment (1)
Impairment of other permanent investment (2)
Total other permanent investment
Commissions
Prepayments and others
es
s
2020
2019
MEGACABLE.
(459)
(6,358,954)
(100,149)
(729,085)
(7,188,647)
Net debt (liabilities arising from financing activities)
2020
580,830
(88,500)
492,330
451,515
Bank loans payable in 1 year
451,515
Bank loans payable after 1 year
Related party payables within one year
182,712
140,785
Related party payables in more than one year
41,218
37,262
Net debt as at December 31, 2020
716,260
629,562
Total other non-current assets
$
(1)
Corresponds to another permanent investment in Altán Redes, S.A.P.I. de C.V. (Altán).
Net debt (liabilities arising from financing activities)
Bank loans payable in 1 year
$
Bank loans payable after 1 year
In 2016, Altán won the international bidding process published by the Secretariat of Communications and Transportation, to
build and operate the shared wholesale network. In January 2017, Altán obtained a 20 year concession title for commercial
use as a wholesale shared network.
Grupo Megacable holds 3.92% of Altán's equity, obtained through cash contributions and through a telecommunications
services provision plan. Grupo Megacable may not have significant influence on the Altán operation, therefore, its
participation is made through the acquisition of a special series of shares without voting rights that consists primarily of
contributing services and capabilities.
(2)
By calculating Altán's investments at market value, an impairment in the investment was determined as of December
31, 2020, the Group recorded $ 88,500 as impairment for the year.
Currently Grupo Megacable, in addition to being a shareholder, is a provider and client of telecommunications services with
Altán and will be a possible client once the shared network begins operations.
Related party payables within one year
Related party payables in more than one year
Net debt as at December 31, 2019
2019
(79,922)
(6,427,847)
(275,534)
(735,400)
$
(7,518,703)
Related party
payables in
less than one
Net debt as at December 31, 2020
year
Loans payable
over one year
with related
parties
Net debt at January 1, 2020
Accrued interest
$
(275,534)
(735,400)
41,299
Bank loans
of less than 1
year maturity
(79,922)
426,992
Bank loans
valid for more
than 1 year
Total
(6,427,847)
(7,518,703)
468,291
Cash flow - Principal payments (1)
245,474
Cash flow Interest payments
(62,227)
148,356
(426,992)
393,830
(489,219)
Increase in accounts payable
Short-term transfer
(42,846)
(42,846)
(6,315)
6,315
(68,893)
68,893
Net debt as at December 31, 2020
$
(100,149)
(729,085)
(459)
(6,358,954)
(7,188,647)
75View entire presentation