Highlights

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Rodrigo Wright

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rodrigo.wright@maxcom.com>

Fundamentals

Comprehensive Income

(Ps. Million) 3Q 20171 2Q 20171 1Q 20171 4Q 20161 20161
Total revenues 438 638 731 712 2,552
Gross profit 189 189 196 189 909
EBITDA 2 74 72 83 72 72
LTM EBITDA 2 301 324 342 345 345
Operating income (loss) 2 (24) 31 (1,198) (1,561)
Net income (loss) (77) 73 177 (1,358) (2,113)

Financial Position

(Ps. Million) 3Q 20171 2Q 20171 1Q 20171 4Q 20161 20161
Total assets 3,614 3,597 3,701 3,893 3,893
Cash and financial instruments 3 538 535 659 848 848
Financial liabilities4 2,130 2,127 2,464 2,700 2,494
Total liabilities 2,475 2,483 2,755 3,092 3,092
Total shareholders’ equity 1,139 1,113 946 801 801

Cash Flow

(Ps. Million) 2Q 20171 2Q 20171 1Q 20171 4Q 20161 20161
Operating activities (59) 100 (106) 278 332
Investing activities (52) (66) (58) (107) (120)
Financing activities 114 (159) (24) 5 (159)
Cash generated in the period 3 (125) (188) 176 52

Operating ratios5

3Q 20171 2Q 20171 1Q 20171 4Q 20161 20161
EBITDA/ Total revenues 16.83% 11.35% 11.34% 10.09% 13.54%
Operating income (loss)/ Total revenues 0.37% (3.75%) 4.26% (168.12%) (61.18%)
Net income (loss) / Total revenues (17.67%) (11.38%) (24.25%) (190.61%) (82.80%)

Liquidity Ratios5

3Q 20171 2Q 20171 1Q 20171 4Q 20161 20161
Current assets / Current liabilities (x) 2.45 2.26 2.71 2.54 2.54
(Current assets - Inventory) / Current liabilities (x) 2.45 2.25 2.70 2.54 2.54
Current assets / Total liabilities (x) 0.39 0.38 0.39 0.41 0.41

Leverage Ratios5

3Q 20171 2Q 20171 1Q 20171 4Q 20161 20161
Net debt6/LTM EBITDA (x) 5.30 4.80 5.30 5.30 5.30
Long-term liabilities / Shareholers’ equity (x) 1.83 1.86 2.49 3.25 3.25
Total liabilities / Total assets (%) 68.49% 69.05% 74.44% 79.44% 79.44%
Total liabilities/ Shareholers equity (x) 2.17 2.23 2.91 8.86 3.86

1 Data from interim financial statements

2 EBITDA equals Operating income (loss) plus depreciation, amortization, impairment charges and other (income) expenses

3 Includes long-term restricted cash

4 The Financial liabilities item is presented at fair value as indicated in audited financial statement

5 Calculations based on proprietary methodology that may differ from estimates produced using other methodologies

6 Equivalent to Financial liabilities less Cash and financial instruments