Investor Presentaiton
112
ANNUAL INTEGRATED REPORT 2021 | AXTEL
Axtel, S. A. B. de C. V. and Subsidiaries
(Subsidiary of Alfa, S. A. B. de C. V.)
Consolidated Statements of Cash Flows
For the years ended December 31, 2021, 2020 and 2019
Thousands of Mexican pesos
2021
2020
CASH FLOWS FROM OPERATING ACTIVITIES
(Loss) income before income taxes
Depreciation and amortization
Exchange fluctuation loss (gain), net
Allowance for doubtful accounts
3,179,364
277,595
Loss (gain) from sale of property, plant and equipment
Interest income
(2,600)
1,327
(24,909)
$(1,149,147) $1,153,888
3,384,219
385,284
48,891
(2,022,963)
2019
$ (353,308)
3,578,541
(290,275)
8,874
5,046
(38,878)
(60,253)
Interest expense
Current PTU
1,188,709
1,378,015
1,468,752
5,426
Impairment of goodwill
6,891
96,754
12,524
Impairment of investments
290,114
Others
36,114
Change in unrealized fair value and settlement of financial instruments
72,539
(105,809)
113.255
8,919
Changes in working capital:
Trade and other accounts receivable, net
505,562
420,656
Inventories
20,049
Trade accounts payable, related parties and other accounts payable
Employee benefits
(677,132)
109,638
Paid PTU
Deferred income
(5,973)
(30,002)
85,859
(528,915)
17,703
(11,847)
(37,175)
120,012
131,289
(1,340,992)
Operating cash flows from discontinued operations
Subtotal
(383,223)
(29,633)
Income taxes paid
Net cash flows generated by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions of property, plant and equipment
Disposal of property, plant and equipment
Acquisition of intangible assets
Interest received
Restricted cash
3,724,135
(432,580)
3,291,555
4,305,112
3,013,185
(97,274)
4,207,838
(56,481)
2,956,704
(1,290,512)
(242,000)
24,909
258,891
(1,591,980) (1,691,354)
3,147,703
(553,826)
(70,676)
Investment in shares of Altán
38,877
(247,104)
(64,568)
60,254
93,908
(69,959)
Notes receivable
(19,579)
Investing cash flows from discontinued operations
Net cash flows (used in) generated by investing activities
(1,268,291)
729,102
1,150,000
(527,827)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds of current and non-current debt
Payments of current and non-current debt
Lease payments
Payment of account payable to holding company
Repurchase of shares
Interest paid and other financial expenses
Net cash flows used in financing activities
Net (decrease) increase of cash and cash equivalents
Effect of changes in exchange rates
1,485,012
(2,174,476)
(1,411,749) (550,000)
(332,412)
(9,876)
(1,084,878)
(545,855)
(713,972)
(213,680)
(1,200,297)
(638,067)
(1,237,640)
(56,536)
(1,338,736)
(3,601,642)
(1,578,378)
2,336,399
(2,600,541) (3,820,979)
(1,392,102)
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
68,120
3,123,955
$1,613,697
(70,186)
857,742
$3,123,955
689
2,249,155
$ 857,742
01
Axtel, S. A. B. de C. V. and Subsidiaries
(Subsidiary of Alfa, S. A. B. de C. V.)
Notes to the Consolidated Financial Statements
As of and for the years December 31, 2021, 2020 and 2019
Thousands of Mexican pesos, unless otherwise indicated
GENERAL INFORMATION
=
32,835
(9,178)
Axtel, S. A. B. de C. V. and subsidiaries ("Axtel" or the "Company") was
incorporated in Mexico as a capital stock company. Axtel's corporate
offices are located at Avenida Munich No. 175 Colonia Cuauhtémoc,
66450 San Nicolás de los Garza, Nuevo León, Mexico.
Axtel is a publicly owned corporation, whose shares are registered
at the National Securities Registry and are traded at the Mexican
Stock Exchange ("Bolsa Mexicana de Valores" in Spanish) through
Certificates of Participation ("CPOS") issued under the Trust whose
trustee is Nacional Financiera, S. N. C. The Company is subsidiary of
Alfa, S. A. B. de C. V. ("Alfa"), direct holding and last company of the
Group, which exercises control and holds 52.78% through the Trust
Administration Agreement No. 2673 entered into with Banco Invex, S.
A. Alfa has control over the Company's relevant activities.
The Company is an Information and Communication Technology
company that serves the enterprise, government and wholesale
markets, through its business units Alestra (services) and Axtel
Networks (infrastructure). The portfolio of the services unit for the
business and government segments includes advanced solutions
for managed networks, collaboration and information technology
(IT) such as systems integration, cloud services, cybersecurity,
among others. On the other hand, the connectivity solutions of the
infrastructure unit for wholesale clients or operators (including the
services unit) include last-mile access, IP transit, spectrum, fiber to
The accompanying notes are an integral part of these consolidated financial statements.View entire presentation