ANNUAL INTEGRATED REPORT 2021
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ANNUAL INTEGRATED REPORT 2021 | AXTEL
We also launched Alestra Móvil, the first mobile
virtual network operator (MVNO) focused
exclusively on business customers in Mexico, with
which we entered the mobility market seeking to
enable companies to take their fixed capabilities
to a mobile device, as well as enable third-party
mobile projects through our platform as a mobile
virtual enabler (MVNE).
Along with these initiatives, we held talks
to attract potential investors for Axtel or
the Infrastructure Unit. The environment of
uncertainty in Mexico and in the world, as
well as adjustments in the plans of industry
participants in the country, among others, have
influenced the prolongation of this process.
We maintained a disciplined approach to our
finances to continue to improve the capital
structure. Axtel's debt has consistently
decreased over the past five years,
accumulating a 41% reduction in net debt
from 2016 to 2021. Throughout the year, and
supported by a solid pre-tax cash flow of $53
million dollars (result of good collection and
cautious investment analysis), we managed
to reduce debt by 5% and mantain the net
leverage ratio at 3.1 times. In addition, during
the year we obtained two committed credit
lines, over three years, for about $70 million
dollars.
With a stable performance for Axtel Networks,
our Infrastructure Unit, and mixed results for
Alestra, our Services Unit, in 2021, we reported
an 8% reduction in revenue, reaching Ps. 11,389
million, while the Flow decreased 10%, reaching
Ps. 3,793 million.
At Alestra, the solid 11% growth in digital
transformation services was mitigated by the
drop in voice revenue stemming from lower
volume due to the adoption of collaboration
tools and, also, by the still challenging
government segment. While, at Axtel Networks,
revenues increased 1%, even without fully
reflecting the growth opportunities that we
expect to materialize with investments in next-
generation mobile networks and the start-up
of the multiple data centers currently under
construction in Mexico.
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