Guidance from the call
stated verbally on the call, extracted from the transcript| Metric | Period | Guided | Basis |
|---|---|---|---|
|
CAPEX
Maintained
full year
|
$7B | — |
The U.S. dollar did not grow stronger against most currencies in our region of operations this in the quarter, and in fact actually depreciated 6% versus the Colombian pesos. In the second quarter, we added 3.5 million post-it subscribers, with Brazil leading the way with 1.5 million subscribers. Colombia followed with 250,000, Peru with 173,000, Argentina with 154,000, and Mexico with 101,000 post-page subscribers. In the pre-test segment, we raised 3.1 million net losses as Colombia and Argentina cleaned up the base. In the fixed-line segment, we connected 531,000 new broadband accesses. Mexico was the main contributor with 170,000 accesses, followed by Brazil with 83,000 and Colombia with 74,000. As regards pay TV, we are at a current 10,000 units, with most of them coming from Argentina, Eastern Europe, and Central America. Mobile postpaid and fixed broadband accesses remain the main driver's growth of our customer base, increasing at an even faster pace, 9.1% and 6.1% respectively, compared with the year earlier quarter. Second quarter revenue was up 3.1% year-on-year in Mexican Peso terms to $241 billion Mexican Pesos. The service revenue increased 3.4% and EBITDA. Compared to a year earlier quarter, the Mexican Peso appreciated significantly based on the dollar and the euro, 12% and 9% respectively, while remaining flat versus the Brazilian value and depreciating 3% versus the Colombian peso. At constant exchange rates, service revenue was up 5.1%, while EBITDA increased 5.3%. It would have increased 6.7% absent a one-off charge in Mexico. Mobile service revenue maintained the pace it has observed over several orders, 6.5%, while fixed-line service revenue accelerated to 2.7% from 1.7% the prior quarter, with the downward trend in fixed-line growth coming to an end. On the mobile platform, post-paid revenue expanded 7.2% as in the preceding quarter, with pre-paid revenue growth continuing to accelerate to 5.3 percent, up from 3.1 percent a year ago. Mexico, Colombia, Central American, and Western European blocks were the best performers in terms of improved mobile service revenue growth. Regarding fixed-line service revenue in the residential segment, both broadband and pay-to-day revenue growth somewhat more rapidly than in the preceding quarter, 4.2% to 5.4%, up from 3.1% to 4.60%, respectively. B2B revenue growth remains stable at 4.0%. Mobile, Peru, and Central America all contributed to the improvement in broadband revenue growth. As for the recovery in the pay-to-day segment, the silver is a performer moving up from a 4.7% pace to 7.5%. Operating profit totaled $51.8 billion and was up 9.5% in Mexican pesos. Our comprehensive financing cost rose to 10.4 billion pesos reflecting lower foreign exchange gains that more than offset lower net income costs. Our net income totaled 24 billion pesos and 9.2% increase from the earlier quarter. It was equivalent to $0.40 per share and $0.47 per ADR. So at the first half of the year, our capital expectations amounted to $0.48 billion, our share buybacks to $0.6 billion, and the service of our labor obligations to $8.4 billion. These were all covered by our cash flow, which together with net dividend income of $1.1 billion allowed us to reduce our net dividend cash flow terms by $0.9 billion. You can see it in the slide. Excluding capitalized lease obligations, net debt totaled 402 billion pesos at the end of June, which represented 1.331 times the last 12 months EBITDA after leisure. So with that, I will conclude this presentation and I will pass the floor back to Gabriel.
Thank you, Carlos, and we can start with the Q&A. at this time i would like to remind everyone in order to ask a question press star then the number one on your telephone keypad we'll pause for just a moment to compile the q a roster your first question comes from the line of leonardo olmos ubs your line is open go ahead hi everyone good morning uh thank you for taking the question congrats on the numbers we love the
leveraging we saw. My question would be regarding competition in Brazil. You mentioned a more competitive and promotional environment in Brazil. Which segments are most concerned and how does this entry-level hybrid plants, such as Claroflex, fit in these scenarios? So I'm asking specifically about the new around 30 reais per month low-end hybrid plans that all the three mobile carriers launched. Thank you.
Thank you, Leonardo. We're talking a little bit about Brazil. I think in Brazil we have a lot of things. So the first is, well, if you see one year ago, second quarter, the growth was very high. So the comparative between second quarter last year and second quarter this year is a little bit difficult because second quarter of last year, the growth was higher than it used to be in the other quarter. So it's a difficult comparison between quarters, okay? That's one of the things. The second, no doubt that the market has been more promotional, where we are seeing more promotions are in prepaid and in postpaid. What you see, what you told about the Claroflex, I don't think there's any change on the trends on Claroflex, postpaid, prepaid. I think everybody's more or less seeing the same trend. So we are not selling more cheap post-paid or more cheap prepaid. So we are seeing the same trend. The only thing is that promotions are becoming a little bit more strong. I still think that we're going to have a recovery in third, but more in the fourth quarter. We're going to see, again, a little bit more growth. mobile but well if promotions and our competitors are more aggressive then we need to be a little bit more aggressive so I I'm not sure what is gonna happen in the next months maybe the promotions are not so aggressive but we don't know So it depends a lot. We're following them. Since May, Team Ambivo has become more aggressive. So we have to follow and we're going to follow that. So that is what is happening. In the other side, in the peak side, we are growing revenues from, let's say, we have in Brazil, I can tell you, we start with one year ago, 1.5% growth, then 1.8%, then 2.6%, and today 4.1%. And so in VIX, things are going better and things are looking stronger. So at the end of the day, we have a very strong network. We are doing very good in 5G. We are investing in customer care. We have a very good MPS. We are doing convergence. So if the market is aggressive for this moment, then we're going to be a little bit more aggressive. And in the future, if things are going the other way and less promotions, then we're going to see better revenue. So we are still gaining in mobile portability. We are the gainers in post-paid in mobile portability. So all over all, we are looking Brazil good. The other thing important that you can see is that we think and we're feeling a little bit of a slowdown in the economy. That's also one of the things that we're looking at why revenues are decreasing a little bit because the economy we see a little bit of a slowdown, but it's too early to see. Let's see what's happening in the next month, and then we can find if the economy, the trend is going slow, or it's going to stay the way it is. So that's more or less what we have in Brazil, Leonardo.
Makes a lot of sense. Thank you very much, Daniel.
Thank you. Your next call comes from the line of Marcelo Santos, JP Morgan. Your line is open. Go ahead.
Hi, good morning. Thank you for the opportunity to ask questions. I wanted to ask about Mexican prepaid performance. The revenue growth we're seeing there has been accelerating every quarter for many quarters already. Usually you discuss this in the light of improving Mexican economy, but what we hear from consumer companies, it's kind of not such a great story in the consumption side, yet your performance is good. What kind of initiatives have you been putting forward? what is happening in the competitive environment from inside or outside of America that's helping you to deliver these results?
Well, as you said, we think that the economy at the beginning when we were almost flat in prepaid and we're growing maybe 1% in prepaid was maybe two years ago. when we think that the economy was in a slowdown period. But right now, I think the economy is going back. And our prepaid customers are consuming, are recharging more, and are charging higher cards, higher prepaid cards. So instead of charging 50 pesos, they are charging 80 or 100. So people are starting to use more and more. 5G in Mexico really were the only ones that had a very good 5G network, and that's also helping us a lot. And on the other side, we have a little bit more coverage, so we're gaining some good subscribers that we don't have. We're starting to do a little bit more coverage in some places. But all over all, we have a very good base on prepaid. Difficult to say, but we have a lot of our prepaid customers are consuming. So we don't have a base that some of them are consuming or they are maybe one month consuming and two months not. So all these customers every month are charging and using more data. So those are the things that are helping a lot on the prepaid side. So our base of people who is recharging is growing, and that's very good for us. Perfect. Thank you very much.
Just a small detail on the economy. As Daniel points out, I think that the economy is on our recovery path. It is coming back. I think at this stage it's very uneven, so it's not affecting all the sectors in the same way. But I'll give you the two reference points. As of June, we have registered the highest ever volume of sales of automobiles, highest ever. and the growth of the automobile sales are almost identical to our prepaid revenues, the growth of the prepaid revenues, just to put it in perspective. Another reference point is if you look at other services like restaurants, they are booming, all sorts of restaurants, high-end, low-end, all of them are booming. So it's a little bit uneven. you know, you have some sectors that are doing particularly well, some other sectors that are still not recovered.
Okay, pretty interesting. Thank you.
Thank you. Your next question comes from the line of Fanny Kanemuri, HSBC. Your line is open.
Hi, everyone. Thanks for taking my questions. My first question is on Mexico mobile revenue growth. It has registered a very strong growth but I'm wondering if it had any positive impact from the World Cup that is happening in Mexico are you seeing higher roaming revenues have you seen higher growth in June compared to other months the second question is also in Mexico how is the progress happening on the mobile registration and how many what percentage of customers have already been registered on this front Thank you.
The first one, I think the World Cup impact, but impacts a little bit. So I don't think it's too much. There's not, the World Cup was not only in Mexico, so we have only like seven games, something like that. So there's people coming. We see more roaming here in Mexico, more people using. It's not only the roaming, people is using more. It's looking – we have a very good 5G network, so they are looking at the games in the iPad, in the phone. So that will have a little bit more consume, but that will be only two weeks in June, so it's not too much. But what we are seeing is that a lot of our customers who are coming back to our store and want to renovate, They are renovating maybe, I can tell you that maybe half of our subscribers are upgrading their plan. So that's very, very important. So they want to use, they want to have a better plan. They want to use more. They want, they're using more of the handset. So that is what is giving us on PostPay a very good growth. So a lot of our customers are moving to a higher plan. So that's what you could see. The market is very competitive. We have a lot of competition in the market. But as I said, we are the only really 5G network, very good network all around Latin America. We're working a lot on quality. We're working a lot on speed, customer care. So we're trying to give our customers the best service. And that is making us to grow that. And in the registration, well, from now on, what we said is that there's going to be new dates for the registration. The dates are going to be, depending on the end of your number, is where you need to be registered. It's going to be only the prepaid subscribers. The postpaid are already in, so they don't need to register the postpaid subscribers. And I don't know exactly the number on the industry, but there's still a lot to do on that. So every month, every 15 days, every month, there's going to be a new number, and then you have to register your prepaid number. So that's what it is. It starts in 15th of August and ends on, I think, end of November or beginning of December. And, well, that's what the authorities are saying, and that's what the people need to do in prepay. They need to register. Since January, all the people, all the new customers that all of the companies have, has to be registered. So since that, all of them have to be registered. And this is only for the actual customers that need to register their number. So that's where we are. And we hope that all of them will register.
Yes, thanks for the responses, everyone.
Thank you. Your next question comes from the line of Rogerio Arujo, Bank of America. Your line is open. Go ahead.
Hi, everyone. Thanks for the opportunity. I have a couple of questions. The first one on the line, all their financial expenses, it rose to roughly $6.9 billion maximum pesos in the quarter. This was a 40% increase year-over-year. Could you please break down what drove that increase, but specifically how much of this relates to cash outflows tied to your labor obligations and pension funds? We saw this was nearly 6.9 million maximum pesos in the quarter as well. Also looking forward, what level of annual pension-related cash outflow should we model given the maturity of the Telmex plan? This is the first one. And the second on New Cell, could you gently walk us through how it's reflected in your accounting and KPIs? Specifically, are new cells users counted within your reported subscriber base? And that adds, we think so, but if you could confirm. But also, how is the economics recognized? Full revenue or only CLADO's revenue share? So we can have an idea on how this impacts ARPU. And finally, how should we think about the associated network commercial costs and margin profile of Nucel in our results? Thank you so much.
Thank you, Rogelio. On the first question, on all the financial expenses, Basically, what we are reflecting is partly a little bit of the elements of the fine that was mentioned a while ago, because as the first ruling was some years ago, part of the fine ended up being financial expenses, you know, it was what was financial penalties that were accrued since the initial ruling, okay? The other part that is important in all expenses generally, and this is you will see it all the time, is that that's why we have the hedging, the currency hedging transactions, among other So typically when you are gaming on FX, to the extent that those games had already been or those trends had already been hedged, you are giving back part on your expenses. It works in opposite directions, both cases. Okay, so that's part of it. So it's part of the time and part of your expenses. Nothing to do with the pensions. The pensions are accrued. What we are showing here is an accrual basis. It's not on a cash flow basis.
And the accrual basis, there's no change. And on Nucel, there's two types of MBNOs in Brazil. The one we call them acreditados, and the other ones authorize MBNOs. Nucel is the ones that are like acreditados, that they work like an agent, commercial agent, and those customers count as our base. we count them as in our base in Claro. So that's the way we count. So all the New Cell subscribers are inside Claro Customs.
Okay, perfect. And the revenue is the full revenue charged by New Cell that enters at your revenue?
No, the revenue is the part that is including in us. That's our revenue, and the rest is New Cell revenue. So we divide that. So that's where we have. But NewSelf has been working maybe for one year or more.
Okay. Fair enough. Very clear. Thank you so much.
Your next question comes from the line of Emilio Fuentes, GBM. Your line is open. Go ahead.
Hi. Thank you for taking my question. My question is regarding capital allocation. I was wondering, given the current weakness we've seen in the U.S. dollar and how this could benefit your investment needs, Do you see any downside risk to your full-year CAPEX guidance? And if so, and given you're currently standing the lower end of your leverage ratio, do you see incremental free cash flow as being destined for share buybacks? Thank you.
The weak dollar, it's difficult for us in CAPEX because then for the same things that you do, then it's going to be more dollars. So we need, on dollars, it's more dollars for the same budget that we have. So in terms of the CAPEX, it's not helping, while in terms of revenues, it's helping. So that's where we are, and we're deciding what to do. But in CAPEX, it's a little bit more. But we are in the target that we have $7 billion, and it's $7 billion, a little bit more, a little bit less. But we are in that target, and we're not going to move on that.
And on the second question, can you repeat it, please?
The levels you say, well, do you see any incremental free cash flow? Yeah, if you see any incremental cash flow going for buybacks.
No, I think, you know, what we have said consistently is, you know, we first determine what our leverage ratio is meant to be, okay? So we need to look at our leverage ratio considering the expenses that we are already committed to make, which would include the purchase of desktop, which likely is going to close this year, okay? That's our expectation in any case. Okay. So we basically manage to stay within the range that we have set. So it's not more than 1.5 times net debt to EBITDA, not less than 1.2 times net debt So that you can see that we have some limits in terms of how much we can reduce our leverage at this point.
And what we – and also adding another thing that we just announced yesterday, the wow acquisition that we have, I think, makes a lot of sense for us in Peru. It's some more fiber, like more than 3 million houses packaged with fiber, half a million customers, and make a lot of synergy with us. and we're open to see more of those acquisitions so they are good for us they are broadband customers that we can sell prepaid, postpaid or TV also this network is outside of Lima and it's a good complement for us help us also the fiber to do corporate customers that we're growing and doing very good there so small businesses as oscar is saying so we we are also looking for other good acquisitions that we can have no yes next question just a reminder to everyone if you would like to ask a question press star then the number one on your telephone keypad Our next question comes from the line of Ernesto Gonzalez, Morgan Stanley.
Oh, excuse me. Our next question comes from the line of Carlos Sequeira, BTG Pactual.
How are you? Hope all is well. So I have one question, please, and it is related to M&A strategy in Europe. If you can, you know, let us know what you are looking at or what makes sense for MX At this point, let me look through you, please.
Well, we're open to see everything, but what we're really looking is this type of companies like Bestop, like WoW, that adds fiber customers, that adds the fiber complement to our fiber network, that we can sell more things to those customers, like prepaid, postpaid, and as I said also, the fiber will be in the small and medium companies, have a lot of synergies. I think we can have a lot of synergies with these companies. So those are the companies that we're looking. So we are not looking to go outside right now to other countries, but we're looking things inside our countries that will make us grow a little bit faster and consolidate the market. Consolidation of the market will be important.
Perfect. Thank you.
Thank you.
Your next question comes from the line of Ernesto Gonzalez, Morgan Stanley. Your line is open. You may go ahead.
Hi. Thank you for taking our question and congratulations on the results. So it's two questions. The first one is on Colombia. You delivered really strong results consistent with past quarters. Could you talk about how you see this market evolving, especially now that some time has passed since the acquisition of Telefonica closed? And the second question is in Argentina. Given the recent competition authority's resolution on potential consolidation in the market, does it change how you view the long-term outlook for Argentina? Or any comments you can give are greatly appreciated. Thank you.
Well, good that you're talking about other countries. So Colombia, I think we're doing very good. In Colombia, growing very fast in mobile. We were the first ones in, let me tell you, we're growing from 7 to 7, 6, then to 10, the growth in mobile revenue. So, we were the first ones that do 5G there. We have a very good network and portability is going well with us. So, that's the reason why we're growing. Also, a lot of customers are moving to higher plants. We work a lot on also service, quality, speed. So all of that is making that our customers will use more the service and that new customers are coming to our network. In the other side, in the peak side, we're moving also to do more fiber. It's more challenging. Mobile is more challenging, but I think we can grow. We are doing fiber. We have a good network, good sales and distribution. So I think we're going to do much better in the figure.
As well in Colombia, as Daniel was saying, I think on the segment, on the corporate segment, we are growing pretty nicely in Colombia as well.
So good in mobile, good in corporate, and moving to be better in broadband and fixed, in TV, mobile, and broadband and fixed TV. So that's where we are. And in Argentina, well, in Argentina, we're going to compete against a big competitor there, but nothing else to do. So we have fiber, we have good broadband, we have 5G, and we're growing. So that's what we want to do, and that's the same strategy that we have, no? Do fiber to be more customers in broadband, in TV, and we are competitive in price. So we have good prices there. So that's where we are. We're growing also very good. We don't say about Peru, but in Peru we're growing very good in broadband, very good in corporate segments. The growth in Peru, I think, on the peak side was around 12%. So it was incredible, the growth in Peru. And that's what we are doing and looking to still grow more there. So there's a lot of opportunities in the corporate segment also.
Really clear. Thank you.
Your next question comes from the line of Rajrijo Arujo, Bank of America. Your line is open. Go ahead.
Hi. Thanks for the follow-up question. If you could provide more details on the regulatory fine of $1.3 billion on Telmex, what are the reasons behind it, and also the potential recurrences of regulatory fines going forward? Thank you.
Well, this is something that dates back to 2017, and in 2020, this fine was imposed on an alleged violation of asymmetric measures. So we contested the fine, and now in June it became final. So we believe it's disproportional. It doesn't make any sense, this fine. It's 6% of the revenue, which is the minimum accordance to the law, and we think it's completely absurd what they do. So unfortunately at this stage we cannot do anything. So that's what we have. so it's it's it's not on telmex it's on tel not an affiliate of telmex and that's what the that's what give us the the six percent so we don't think we think those those fines are absorbed absorbed so we hope and we don't think there's gonna be any more of those so let's see okay thank you your next question comes from the line of marcelo santos jp morgan your line is open.
Go ahead.
Hi, thank you very much for the follow-up. I just want to circle back to the first question regarding Brazilian mobile. So, based on what you said, like, you expect the growth to improve in the third and fourth quarter, do you see room to increase the control prices, the mobile control hybrid prices this year or not? Could you make some comments on that, please?
I think we can do increase of prices, but, well, there's a lot of competition in Brazil, so we are not going to do anything on that until we see the – at the end of the day, we are going to be competitive. We have the network. We have the coverage to be competitive. And if there's one, two, or three months or quarters that the promotions are more aggressive, then we're going to be there. If that happens in May with Vivo, so in May with Vivo, we need to put more promotions and we think we need to put more promotions and to be more aggressive. So that's what we do in May and June. We don't know what is going to happen. As I said, we don't control the competition. We control what is internal in the company, not the competition. So I don't know exactly what they are going to do. But in Brazil and in all the countries, we are prepared to compete. And if they do more promotions, then we're going to do more promotions. And if the promotions are a little more relaxed, then we can relax the promotions. But we are a long-term player, and if it's for some quarters or one year that they're too aggressive, well, that happened in Colombia like three or four years ago, no, with the entrance of the new competition there, very aggressive. Well, and today we're growing, and we do what we need to do in the market, in our network, in training our people. And other things that we're doing is we're using and starting to use a lot more AI agents, a lot more AI, and it's going to help us to reduce costs. It's going to help us to understand more our customers and to see what opportunities we have. It's not a short term. I think that's something that we're going to do on long term, and it's going to help us in the – we're seeing that we are growing more our EBITDA than our revenues, and that's because we are controlling our costs and expenses. So that's where we are. That's really the strategy of the company all around Latin America and in Europe. And, well, in some countries, maybe we have some competition one quarter or for six months, another one, another one. And, well, we are prepared to do that. So that's where we are, and that's our strategy.
All right. Thanks a lot.
Thank you.
Your next question comes from the line of Walter Pisek from LightShed. Your line is open. You may now go ahead.
So in Mexico, you've had very good margins for quite some time. I think they stepped up a couple of years ago, but you do show revenue growth there. Just curious if there's a way to further leverage that to take margins higher, specifically in Mexico.
Well, what I said, so we are really working hard to control costs, to control expenses, to find ways that will be good for our customers to increase their plan because we don't want that we sell a better plan and the people and our customers don't use that plan. We want that what we sell, they use, they will be happy. We want customers for a long term, so we don't want customers for a short term. So, of course, if we can find a way to increase more revenue and to control costs in all the companies, of course, the margin will increase. I think all over all this quarter, again, last quarter of last year, the second quarter of last year, the margins of all the companies increase a little bit. So almost not all, but in almost all the companies, our margin of the Vita increase this quarter.
Okay. And then, sorry if this was touched on before, but the fiber acquisition and maybe potential other acquisitions, I assume is not going to negatively impact what has been a good trajectory in terms of capital return with dividends as well as share repurchase. But related to that, I mean, you still have a stake in Verizon. Is there any thought of monetizing that stake in order to provide additional cash for acquisitions or capital return? Obviously, the leverage ratio of the company is within your target range. So just kind of curious how all those things fit together in terms of maybe selling Verizon, how much fiber more to build, and whether we're going to see a big step up more in capital return in 27.
Well, the cash flow these first six months was really good. I think We increase a lot our cash flow, but still we need to give the dividends. The dividends for the second half are there. And with the dollar appreciated, it's a lot of dollars what we need to give. So it's good. And, no, I think what Carlos is saying. So we have a target, and then at the end of the day, We can use that. It doesn't have to be immediately in the short term. I can tell you that in the long term, there's going to be acquisitions, if we have acquisitions, and return to capital to the shareholders and reduce the debt. Those are the three things that we have. We want to be as financial health as possible because, well, maybe we can have other opportunities in the future. So that's what we are. Still what Carlos is saying, we need to pay the acquisition of desktop at the end of the year. So all over all, we are going to be looking for those three things. acquisitions, returning capital to shareholders, and reducing debt. So that's where we are. Thank you, but is there any reason? No, but we are not seeing the things in a short term, okay? So today, what is today? And then tomorrow, we need to see a little bit more on medium and long term to do all these things, okay? So that's where we are. But I still personally think that there will be more opportunities like desktop, like WoW, in the future. And let's see. That's why we want to be healthy and to be prepared to do those things.
And why continue to own Verizon?
Well, Verizon, when the show was at some price, we saw some of that. we are we take the decision to sell half of that we haven't take the decision of the other half of that so we we're looking for that's nothing that there's not we we we are sure that in the future we are gonna divest maybe we don't know exactly when we're gonna divest in a hurry nothing we're not on a hurry so there has to be a good price and uh and we are not on a hurry to buy that pretty good price it's a pretty good price right now well yes we saw this at a higher price than
this one yes i know thank you thanks thank you your next question comes from the line of jesus ROMO, Global Data. Your line is open. You may go ahead.
Good morning, and thank you for taking my call. Just a quick follow-up on the Mexico numbers, specifically the three-page subscriber numbers. I noticed that you had positive net ads in Q2 2026 versus Q1 2026. And since we're in the middle of the, or we're still on the ongoing and registration process, I wonder if you could share a little bit of color or the factors that guide us to have positive net access numbers in this quarter, positive promotions, the World Cup, mobile productivity, or a combination of factors.
Look, it's very difficult to explain what is happening since the registration in January is with the new customers, it's very difficult because some customers decide not to renew because if they renew, they have to register. So people are not registered. But we have less disconnections. So a little bit less sales, but less disconnections. But it's very difficult the way we still were seeing and trying to understand what people are thinking, but change a little bit because people used to buy very cheap and then use and then buy another handset and then use. The behavior of the prepaid subscribers are changing a little bit, and we need to see. But at the end of the day, the most important thing in pre-state is the amount of revenue that you are getting per month.
And I think that's what is doing good, and we're doing fine on And just to give you a reference point, NEDAT, prepaid NEDAT, second quarter, we're 146,000 in Mexico. A year ago, second quarter of last year, they were 83,000. And two years ago, they were $106,000. So if you look at the last three years, the second quarter has given us a better net in prepaid.
Another thing that is happening in all the countries is that there's a lot of people moving from prepaid to postpaid. So in some countries, they are moving more from prepaid to postpaid. In other ones, a little bit less. But people is understanding that, well, the handset is part of the life of the person. So they are moving when they can. They move to a post-paste, and in post-paste they hire more data and more applications and do more things. So that's going to be the trend for the next five years. There's going to be more people moving from prepaid to postpaid.
Just a quick follow-up, if I may. Do you perceive there is an effect of customers coming in from Movistar now that there's an announcement of a deal, not an approval yet, but there's an announcement of Movistar changing? Hans, do you think that these customers...
I think it's difficult that the customers... And all the customers will know that the company is going to be for sale or not for sale. Some of them know, other ones know. But I think what we have is in number portability, we have been gainers in number portability, and we still are gainers in, we're gaining number portability. So I don't know exactly if it's because the company was for sale and then it's still not for sale or they are not selling because they don't have the authority. I don't know exactly what those regulatory is happening. But, well, we're gaining customers from all the companies.
Thank you. Thank you. We have reached the end of the Q&A session. I will now turn the call over to Mr. Daniel Hash for final remarks.
Just thank everyone for being in the call. Thank you very much.
This concludes today's conference call. You may now disconnect.