AFRPP - AFRPP STOCK NEWS

ALFA reported its unaudited financial results for the first quarter of 2023, highlighting a comparable EBITDA of US $396 million, aligning with its annual guidance. Key Q1 achievements included a full redemption of US $500 million in Senior Notes, providing increased debt flexibility, and a US $96 million cash dividend paid to shareholders. Sigma saw a revenue increase of 16% year-over-year driven by strong demand, while Alpek experienced a decline in relevant references due to lower ocean freight rates. The company is nearing completion of the spin-off of Axtel, which is in an advanced registration stage. ALFA's financial performance reflects a commitment to reducing debt while maintaining shareholder returns through dividend payments and potential share buybacks.

ALFA reported record annual revenue of US $18.1 billion for 2022, with EBITDA rising 13% year-over-year to US $2.1 billion. However, 4Q22 EBITDA declined by 26% y-o-y to US $346 million due to lower performance from Alpek. Corporate expenses decreased by 41%, and net debt dropped by US $66 million. The spin-off of Axtel is progressing, with Axtel's operations reported as discontinued. In 2022, Alpek achieved record annual metrics despite facing margin pressures, while Sigma's revenue grew by 11% in 4Q22 but EBITDA fell 17%. ALFA maintains a strong balance sheet and aims to continue shareholder value transfers amid a complex economic environment.

Axtel, S.A.B. de C.V., has announced the final results of its tender offer to purchase up to US$120,000,000 of its outstanding 6.375% Senior Notes due 2024. The offer expired on February 13, 2023, with US$88,647,000 of the notes tendered. Of this, US$77,737,000 were tendered by the early deadline of January 30, 2023. All validly tendered notes will be purchased at US$863.75 per US$1,000 principal, plus accrued interest, with payments expected on February 14, 2023. The tender offer was conducted under the terms set forth in the Offer to Purchase, and further details are managed by HSBC Securities and Scotia Capital.

Axtel, S.A.B. de C.V. has initiated a Tender Offer to buy back up to $75 million of its 6.375% Senior Notes due 2024. The offer will expire on February 13, 2023, and early tenders must be in by January 30, 2023. Holders who submit their Notes early will receive $863.75 per $1,000 principal, including an early payment incentive. If the total validly tendered exceeds the cap, notes will be accepted on a prorated basis. The company aims to enhance its capital structure through this strategic move, which may impact its financial standing positively if successfully executed.

ALFA, S.A.B. de C.V. reported its 3Q22 results, highlighting plans for the spin-off of Axtel, now classified as discontinued operations. ALFA's EBITDA reached US $454 million, affected by a US -$118 million drop in oil prices at Alpek. Adjusted EBITDA was a record US $572 million, with consolidated revenues up 26% YoY. Alpek's comparable EBITDA surged 81% YoY, while Sigma faced a 14% EBITDA decline due to inflation. Share buybacks totaled ~US $60 million this year. The Axtel spin-off is expected to enhance ALFA's structure and shareholder value.

ALFA, S.A.B. de C.V. reported strong 2Q22 financial results, with EBITDA rising 42% year-over-year to US $706 million, driven mainly by Alpek's performance. Total revenues reached US $4.835 billion, a 30% increase YoY. ALFA's EBITDA guidance for 2022 is slightly adjusted to US $2.280 billion due to varying performances among its subsidiaries. Notably, the spin-off of Axtel is progressing as approved by shareholders on July 12. Alpek closed the OCTAL acquisition ahead of schedule, projecting a US $120 million EBITDA contribution for the year, while Sigma's guidance was lowered due to European market challenges.

On July 12, 2022, ALFA's shareholders approved a significant corporate restructuring involving the spin-off of Axtel, which will create a new entity named Controladora Axtel. Each ALFA shareholder will receive one share of Controladora Axtel for every ALFA share owned. This strategic move aims to unlock value and facilitate Axtel's independence as an IT and communication provider in Mexico. The spin-off, along with the listing and share distribution, is expected to complete by year-end 2022. ALFA's commitment to shareholder value and growth remains strong.

ALFA announced a proposal to spin off its entire ownership of Axtel to shareholders at an Extraordinary Shareholders' Meeting on July 12, 2022. The spin-off aims to unlock high underlying value for ALFA and its subsidiaries. ALFA shareholders would receive one share of the newly formed company, Controladora Axtel, for each ALFA share held. The Board of Directors supports this move, emphasizing Axtel's strong position in managed IT and communication solutions. The spin-off marks a significant step in simplifying ALFA's structure and enhancing shareholder autonomy.

ALFA, S.A.B. de C.V. reported strong first-quarter results for 2022, achieving record revenues of US $4.191 billion and an EBITDA of US $644 million. The company raised its 2022 EBITDA guidance by 17% to US $2.283 billion, reflecting strong performance mainly from its subsidiary Alpek, which recorded significant margins. However, Sigma and Axtel faced challenges from rising energy costs and semiconductor shortages, leading to decreased EBITDA. A dividend of US $196 million was approved and paid in Q1. Overall, ALFA remains optimistic despite global economic challenges.