Dear Shareholders and Members of the Board of Directors,
I am very pleased to present you with Megacable’s results for 2018, an important year for both the Company and the country amid challenging circumstances characterized primarily by the uncertainty that surrounded the year’s elections, which delayed both public and private investment decisions.
This period signified for Megacable a consolidation phase. Leveraging our strengths –an innovation focused culture, efficient investment, an experienced management team and values deeply rooted in the organization that provide our Company its unique identity– we managed to sustain our pace of growth and demonstrate stability despite the adversities encountered over the course of the year, thereby allowing us to continue posting positive results.
One highlight of our operating performance was to achieve 8 million revenue generating units (RGUs) during 2018. This marks a significant increase from the previous year, which we accomplished by growing the number of subscribers in all three mass-market segments. As a result, we reached 2.21 RGUs per unique subscriber.
2018 also proved to be a year of solid financial results in which we achieved double-digit growth in a number of key indicators. We met our revenue target with more than Ps. 19.5 billion in sales, a 13% increase compared to the previous year. Consolidated EBITDA totaled Ps. 9.4 billion, also a 13% improvement over 2017.
One of our main competitive advantages at Megacable is the efficiency with which we apply technology and innovation. We are constantly striving to remain at the industry’s forefront and to make our technology a distinctive and authentic hallmark. We are characterized by the best technological development, operated by an unsurpassed team of specialists whose innovation, knowledge, and know-how add great value.
In 2018 we centered our efforts on consolidating our services, expanding capacities and partitioning nodes in order to bolster the technological capacities of our network, which can now handle HFC technology and evolving HFC as well as transitioning to DCCAP and, of course, GPON. Given our experience in efficiently managing these technologies, we achieved continuity in our goal of becoming the market’s best option, offering competitive rates and reliable service that exceed our subscribers’ expectations.