News Summary:
On May 6, 2026, Fitch Ratings indicated that Mexico's telecom sector is entering a credit-supportive phase as operators, including TotalPlay, rein in capital expenditure, prioritize deleveraging, and monetize existing networks. This tighter capital discipline should support stronger free cash flow and gradual credit metric improvement from 2026, despite intense competition in fixed-line services. Previously, on April 23, 2026, TotalPlay reported revenues of Ps.11,177 million and EBITDA of Ps.4,849 million for the first quarter of 2026. The company gained 115,020 net subscribers in Totalplay Residencial during the period, bolstering service revenues, while EBITDA less Capex and interest reached Ps.883 million, marking its highest level ever recorded for a first quarter. This followed TotalPlay's full-year 2025 results, announced on February 24, 2026, which showed revenues of Ps.45,550 million and EBITDA of Ps.20,608 million. Gross profit for 2025 increased 7% to Ps.38,940 million, with the gross margin expanding three percentage points to 85%, and EBITDA less Capex and Interest reached a record high of Ps.2,955 million for the year.
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