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Maxcom revenue drops in 2015

Bnamericas Published: Monday, February 29, 2016

Mexican telecoms provider Maxcom experienced a 12% drop in revenues in 2015 compared to the previous year, according to the company's 4Q15 earnings report.

Total revenues for the entire year were 2.37bn pesos (US$130mn), representing a decrease of 321mn pesos since 2014. On a quarterly basis, revenues were down 14% compared with 4Q14.

The drop was mainly the result of Maxcom eliminating domestic long distance charges, as well as lower wholesale revenues due to the reduction in tariffs and the divestiture of the public telephony business.

The report shows that the company's residential, commercial and wholesale segments saw a year-on-year decrease of 14%, 5% and 12%, respectively, over 4Q14.

Net income was also down for the quarter, with the company posting a net loss of 205mn pesos. For full-year 2015, Maxcom widened its net loss to 694mn from 305mn in 2014.

Maxcom has been facing problems in the last couple of years, including losing its licenses to operate in several Mexican states for failing to file the renewal request by the deadline. Additionally, in September 2015, the company attempted to reduce costs by laying off 19% of its workforce.

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