GRUPO IUSACELL CONSOLIDATED BALANCE SHEET
COMPARISON OF FIRST QUARTER 2005 WITH FIRST QUARTER 2004
(figures in thousands of constant March 31, 2005 Pesos)
Growth
1Q04 1Q05 1Q05 / 1Q04
ASSETS
Current Assets
Cash and marketable
securities 3,224 0% 3,289 0% 2.0%
Accounts receivable,
net 596,526 5% 343,882 3% -42.4%
Related parties 92,382 1% 112,378 1% 100.0%
Recoverable taxes
and other 246,985 2% 488,235 5% 97.7%
Inventories 295,576 2% 154,533 1% -47.7%
TOTAL CURRENT
ASSETS 1,234,693 10% 1,102,317 10% -10.7%
Property and
equipment, net 7,813,248 64% 6,859,353 63% -12.2%
Excess of cost
of investments
in subsidiaries
over book value,
net 1,979,139 16% 1,810,908 17% -8.5%
Other assets 1,138,988 9% 1,063,352 10% -6.6%
TOTAL ASSETS 12,166,068 100% 10,835,930 100% -10.9%
LIABILITIES AND
SHAREHOLDERS'
EQUITY
Current Liabilities
Accrued
liabilities 1,679,358 14% 2,962,757 27% 76.4%
Related parties 54,180 0% 241,731 2% 346.2%
Accounts payable 588,862 5% 299,230 3% -49.2%
Short-term debt 9,239,930 76% 8,849,659 82% -4.2%
TOTAL CURRENT
LIABILITIES 11,562,330 95% 12,353,377 114% 6.8%
Noncurrent
liabilities 96,872 1% 25,241 0% -73.9%
TOTAL
LIABILITIES 11,659,202 96% 12,378,618 114% 6.2%
Minority
interest -43,256 0% -89,934 -1% 107.9%
Shareholders' Equity
Capital stock 7,872,256 65% 7,878,374 73% 0.1%
Legal reserve 22,125 0% 22,125 0% 0.0%
Capital
contributions 1,549,145 13% 1,549,145 14% 0.0%
Net income (loss) -361,126 -3% -364,846 -3% 1.0%
Accumulated
earnings from
prior years -8,761,772 -72% -10,767,046 -99% 22.9%
Excess from
restatement of
shareholders'
equity 229,494 2% 229,494 2% 0.0%
TOTAL SHAREHOLDERS'
EQUITY 550,122 5% -1,452,754 -13% -364.1%
TOTAL LIABILITIES
AND SHAREHOLDERS'
EQUITY 12,166,068 100% 10,835,930 100% -10.9%
GRUPO IUSACELL CONSOLIDATED INCOME STATEMENT
COMPARISON OF FIRST QUARTER 2005 WITH FIRST QUARTER 2004
(figures in thousands of constant March 31, 2005 Pesos)
Growth
1Q04 1Q05 1Q05 / 1Q04
REVENUE
Service 1,201,338 109.6% 1,434,320 107.6% 19.4%
Commissions (105,250) -9.6% (101,341) -7.6% -3.7%
NET REVENUE 1,096,088 100.0% 1,332,979 100.0% 21.6%
Cost of services 459,006 41.9% 583,048 43.7% 27.0%
Handsets subsidy 252,048 23.0% 76,132 5.7% -69.8%
TOTAL COSTS 711,054 64.9% 659,180 49.5% -7.3%
GROSS PROFIT 385,034 35.1% 673,799 50.5% 75.0%
Sales & advertising
expenses 173,730 15.9% 281,098 21.1% 61.8%
General and
administrative
expenses 72,890 6.7% 125,701 9.4% 72.5%
TOTAL OPERATING
EXPENSES 246,620 22.5% 406,799 30.5% 64.9%
OPERATING INCOME
BEFORE DEPRECIATION
AND AMORTIZATION 138,414 12.6% 267,000 20.0% 92.9%
Depreciation and
amortization 517,674 47.2% 384,997 28.9% -25.6%
OPERATING LOSS (379,260) -34.6% (117,997) -8.9% -68.9%
(Profit) loss from
fixed assets
sales (99,216) -9.1% 169 0.0% -100.2%
Other (income)
expense - 0.0% 32,396 2.4% 100.0%
Interest expense,
net 256,721 23.4% 265,370 19.9% 3.4%
Foreign exchange
loss (gain) (54,565) -5.0% 19,728 1.5% -136.2%
Gain from monetary
position (179,302) -16.4% (83,110) -6.2% -53.6%
INTEGRAL FINANCING
COST 22,854 2.1% 201,988 15.2% 783.8%
LOSS BEFORE TAXES (302,898) -27.6% (352,550) -26.4% 16.4%
Equity
participation
in net loss
(income) of
subsidiaries 25 0.0% - 0.0% -100.0%
Taxes 57,913 5.3% 13,678 1.0% -76.4%
LOSS BEFORE
MINORITY
INTEREST (360,836) -32.9% (366,228) -27.5% 1.5%
Minority
interest 290 0.0% (1,382) -0.1% -576.6%
NET LOSS (361,126) -32.9% (364,846) -27.4% 1.0%
GRUPO IUSACELL CELULAR CONSOLIDATED BALANCE SHEET
COMPARISON OF FIRST QUARTER 2005 WITH FIRST QUARTER 2004
(figures in thousands of constant March 31, 2005 Pesos)
Growth
1Q04 1Q05 1Q05 / 1Q04
ASSETS
Current Assets
Cash and marketable
securities 2,288 0% 1,532 0% -33.0%
Accounts receivable,
net 588,736 6% 344,543 4% -41.5%
Related parties 265,880 2% 287,904 3% 8.3%
Recoverable taxes
and other 247,454 2% 426,204 4% 72.2%
Inventories 295,576 3% 154,533 2% -47.7%
TOTAL CURRENT
ASSETS 1,399,934 13% 1,214,716 13% -13.2%
Property and
equipment, net 7,006,911 66% 6,291,560 66% -10.2%
Excess of cost
of investments
in subsidiaries
over book value,
net 1,784,825 17% 1,626,000 17% -8.9%
Other assets 466,287 4% 440,385 5% -5.6%
TOTAL ASSETS 10,657,957 100% 9,572,661 100% -10.2%
LIABILITIES AND
SHAREHOLDERS' EQUITY
Current Liabilities
Accrued
liabilities 627,569 6% 1,343,156 14% 114.0%
Related parties 85,165 1% 242,744 3% 185.0%
Accounts payable 492,647 5% 271,760 3% -44.8%
Short-term debt 4,847,226 45% 4,642,492 48% -4.2%
TOTAL CURRENT
LIABILITIES 6,052,607 57% 6,500,152 68% 7.4%
Noncurrent
liabilities 690 0% 479 0% -30.6%
TOTAL
LIABILITIES 6,053,297 57% 6,500,631 68% 7.4%
Minority interest -43,256 0% -89,934 -1% 107.9%
Shareholders' Equity
Capital stock 17,559,214 165% 17,559,214 183% 0.0%
Legal reserve 31,266 0% 31,266 0% 0.0%
Capital
contributions 108,191 1% 108,191 1% 0.0%
Net income (loss) -271,117 -3% -323,284 -3% 19.2%
Accumulated
earnings from
prior years -12,004,893 -113% -13,438,678 -140% 11.9%
Excess from
restatement of
shareholders'
equity -774,745 -7% -774,745 -8% 0.0%
TOTAL SHAREHOLDERS'
EQUITY 4,647,916 44% 3,161,964 33% -32.0%
TOTAL LIABILITIES
AND SHAREHOLDERS'
EQUITY 10,657,957 100% 9,572,661 100% -10.2%
GRUPO IUSACELL CELULAR CONSOLIDATED INCOME STATEMENT
COMPARISON OF FIRST QUARTER 2005 WITH FIRST QUARTER 2004
(figures in thousands of constant March 31, 2005 Pesos)
Growth
1Q04 1Q05 1Q05 / 1Q04
REVENUE
Service 1,241,850 109.3% 1,456,771 107.5% 17.3%
Commissions (105,250) -9.3% (101,341) -7.5% -3.7%
NET REVENUE 1,136,600 100.0% 1,355,430 100.0% 19.3%
Cost of services 465,594 41.0% 722,748 53.3% 55.2%
Handsets subsidy 252,048 22.2% 76,132 5.6% -69.8%
TOTAL COSTS 717,642 63.1% 798,880 58.9% 11.3%
GROSS PROFIT 418,958 36.9% 556,550 41.1% 32.8%
Sales & advertising
expenses 173,280 15.2% 280,816 20.7% 62.1%
General and
administrative
expenses 69,569 6.1% 121,188 8.9% 74.2%
TOTAL OPERATING
EXPENSES 242,849 21.4% 402,004 29.7% 65.5%
OPERATING INCOME
BEFORE DEPRECIATION
AND AMORTIZATION 176,109 15.5% 154,546 11.4% -12.2%
Depreciation and
amortization 477,332 42.0% 348,428 25.7% -27.0%
OPERATING LOSS (301,223) -26.5% (193,882) -14.3% -35.6%
(Profit) loss
from fixed
assets sales (71,613) -6.3% 169 0.0% -100.2%
Other (income)
expense - 0.0% 32,399 2.4% 100.0%
Interest expense,
net 95,722 8.4% 110,138 8.1% 15.1%
Foreign exchange
loss (gain) (21,091) -1.9% 9,495 0.7% -145.0%
Gain from monetary
position (85,684) -7.5% (34,928) -2.6% -59.2%
INTEGRAL FINANCING
COST (11,053) -1.0% 84,705 6.2% -866.4%
LOSS BEFORE TAXES (218,557) -19.2% (311,155) -23.0% 42.4%
Equity participation
in net loss
(income) of
subsidiaries 25 0.0% - 0.0% -100.0%
Taxes 52,245 4.6% 13,511 1.0% -74.1%
LOSS BEFORE
MINORITY
INTEREST (270,827) -23.8% (324,666) -24.0% 19.9%
Minority interest 290 0.0% (1,382) -0.1% -576.6%
NET LOSS (271,117) -23.9% (323,284) -23.9% 19.2%
SOURCE Grupo Iusacell, S.A. de C.V.
CONTACT: INVESTOR CONTACTS, Jose Luis Riera K., Chief Financial Officer, +011-5255-5109-5927,
or J. Victor Ferrer V., Finance Manager, +011-5255- 5109-5273,
vferrer@iusacell.com.mx, both of both of Grupo Iusacell
URL: http://www.prnewswire.com
http://www.iusacell.com/
www.prnewswire.com
Copyright (C) 2005 PR Newswire. All rights reserved.
-0-
KEYWORD: Mexico
INDUSTRY KEYWORD: CPR
TLS
SUBJECT CODE: ERN