Highlights

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Rodrigo Wright

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rodrigo.wright@maxcom.com>

Fundamentals

Comprehensive Income

(Ps. Million) 4Q 20171 3Q 20171 2Q 20171 1Q 20171 20171
Total revenues 448 438 638 731 2,256
Gross profit 197 189 189 196 771
EBITDA 2 89 74 72 83 318
LTM EBITDA 2 318 301 324 342 318
Operating income (loss) (2) 2 (24) 31 7
Net income (loss) (188) (77) 73 177 (15)

Financial Position

(Ps. Million) 4Q 20171 3Q 20171 2Q 20171 1Q 20171 20171
Total assets 3,665 3,614 3,597 3,701 3,665
Cash and financial instruments 3 585 538 535 659 585
Financial liabilities4 2,171 2,130 2,127 2,464 2,171
Total liabilities 2,644 2,475 2,483 2,755 2,644
Total shareholders’ equity 1,021 1,139 1,113 946 1,021

Cash Flow

(Ps. Million) 4Q 20171 2Q 20171 2Q 20171 1Q 20171 20171
Operating activities 72 (59) 100 (106) (126)
Investing activities (55) (52) (66) (58) (230)
Financing activities 30 114 (159) (24) 104
Cash generated in the period 48 3 (125) (188) (252)

Operating ratios5

4Q 20171 3Q 20171 2Q 20171 1Q 20171 20171
EBITDA/ Total revenues 19.88% 16.83% 11.35% 11.34% 14.11%
Operating income (loss)/ Total revenues (0.48%) 0.37% (3.75%) 4.26% 0.30%
Net income (loss) / Total revenues (42.07%) (17.67%) (11.38%) (24.25%) (0.71%)

Liquidity Ratios5

4Q 20171 3Q 20171 2Q 20171 1Q 20171 20171
Current assets / Current liabilities (x) 2.72 2.45 2.26 2.71 2.72
(Current assets - Inventory) / Current liabilities (x) 2.71 2.45 2.25 2.70 2.71
Current assets / Total liabilities (x) 0.38 0.39 0.38 0.39 0.38

Leverage Ratios5

4Q 20171 3Q 20171 2Q 20171 1Q 20171 20171
Net debt6/LTM EBITDA (x) 4.99 5.30 4.80 5.30 4.99
Long-term liabilities / Shareholers’ equity (x) 2.23 1.83 1.86 2.49 2.23
Total liabilities / Total assets (%) 72.14% 68.49% 69.05% 74.44% 72.14%
Total liabilities/ Shareholers equity (x) 2.59 2.17 2.23 2.91 2.59

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