Investor Presentaiton
ANNUAL INTEGRATED REPORT 2021 | AXTEL
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the tower and fiber to the data center, among others. Concessions
are required to provide these services and conducting the Company's
business activities. See Note 12.
Axtel conducts its activities through subsidiary companies of which
it is the owner or of which it controls directly most of the common
shares representing their capital stock. See Note 3.c.
When reference is made to the controlling entity Axtel, S. A. B. of C. V.
as an individual legal entity, it will be referred to as "Axtel SAB".
In the following notes to the consolidated financial statements,
references to pesos or "$" mean thousands of Mexican pesos;
additionally, reference to dollars or "US$" mean thousands of U.S.
dollars, unless otherwise indicated for both cases.
RELEVANT EVENTS
2021
a. Effects of the COVID-19
On March 11, 2020, the World Health Organization declared a
pandemic due to the infectious disease caused by the SARS-
COV2 virus (hereinafter "COVID-19"). COVID-19 had and continues
to have strong impacts on health, economic, and social systems
worldwide.
The Company, through its subsidiaries, takes steps to counteract
the effects that COVID-19 has had on the economic markets in
which it participates, focusing on strengthening operating and
financial performance by constantly monitoring its cost structure,
key business processes, and a commitment to its employees,
through a special focus, on the redefinition and capitalization of
experiences; related to the remote work scheme; maintain a solid
liquidity structure through detailed management of cashflows; and
constant monitoring of its financial position to ensure compliance
with the stipulated covenants, and its key financial ratios.
During the year ended December 31, 2021, the impacts directly
attributable to COVID-19 were negative. Revenues in 2021 decreased
by $55,300 from 2020, primarily due to the negative effects of the
global semiconductor chip shortage and logistics delays, resulting
in the cancellation of time-sensitive projects and a general delay in
project implementation times.
As of the date of issuance, the Company continues monitoring the
development of its business, in accordance with the government
regulations of the different countries where it operates and
responding in a timely manner to changes as they arise.
b. Succession in General Management
On January 22, 2021, the Company announced the beginning
of its Chief Executive Officer's ("CEO") succession process, as
Rolando Zubirán Shetler, CEO of the Company, decided to retire.
Axtel's Board of Directors appointed Eduardo Escalante Castillo
as Acting CEO as of this date, and during the selection process
for the new CEO.
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