ANNUAL INTEGRATED REPORT 2021
ANNUAL INTEGRATED REPORT 2021 | AXTEL
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The Company did not have an impact on cash flows due to tax
consequences, as it applied tax loss carryforwards of $730,238.
Lastly, as explained in Note 22, the operations subject to the
transaction are presented as discontinued operations to reflect
results from January 1 to May 1, 2019, as required by IFRS. In
addition, this note identifies the asset and liability balances that
were disposed as of the transaction date, as well as the cash flows
generated by the transaction disposed to the selling date in 2019.
k. Sale of data center in Apodaca and Querétaro
On October 3, 2019, Axtel entered into an agreement with Equinix
to strengthen its co-location, interconnection and cloud solutions
by entering into two agreements subject to compliance with closing
conditions. Equinix acquired a new subsidiary entity of Axtel,
which will house the operations and assets of three data centers
that belonged to Axtel, two of these data centers are located in
Querétaro and one in the metropolitan area of Monterrey. The
amount of the transaction is US$175 million, which were settled in
cash, except US$13 that remained as receivable in the short term.
The rest of the data centers owned by Axtel, located in Monterrey,
Nuevo León; Guadalajara, Jalisco and Tultitlán, Mexico City, were
not part of this transaction.
Data centers presented as available for sale as of December 31,
2019 and were disposed on January 8, 2020.
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I. Debt prepayment
On May 7, 2019, the Company prepaid a portion of the syndicated
loan held with HSBC as the leader of the participating financial
institutions in the amount of $250,000, and the disposed portion
of the Committed Line with Export Development Canada of
$300,000. It also made payments to Alfa SAB of $917,000 and
$320,000 for principal and interest, respectively. As a result of
this prepayment, the Company immediately recognized in the
consolidated statement of income, the outstanding debt costs as
of that date of $8,250.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following are the most significant accounting policies followed
by Axtel and its subsidiaries, which have been consistently applied in
the preparation of their financial information in the years presented,
unless otherwise indicated:
a. Basis of preparation
The consolidated financial statements of Axtel, S. A. B. de C. V. and
subsidiaries have been prepared in accordance with International
Financial Reporting Standards ("IFRS") issued by the International
Accounting Standards Board ("IASB"). IFRS include International
Accounting Standards ("IAS") in force and all related interpretations
issued by the International Financial Reporting Interpretations
Committee ("IFRIC"), including those previously issued by the
Standard Interpretations Committee ("SIC").
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