.
.
.
Exhibit 12.1
Innova, S. de R.L. de C.V.
Ratio of earnings to fixed charges
Millions of Mexican Pesos in purchasing power as of:
----------------------------------------------------------------------------
December 31, 2002 June 30, 2003
----------------------------------------------------------------------------
MEXICAN GAAP: 1998 1999 2000 2001 2002 Jan-Jun'02 Jan-Jun'03
---- ---- ---- ---- ---- ---------- ----------
Consolidated income (loss) from continuing operations
before provisions for income tax and employees' profit
sharing (2,281.7) (1,000.6) (1,858.5) (363.2) (1,693.3) (1,070.1) (234.0)
plus: amortization of capitalized interest and fixed
charges 719.5 711.4 757.5 922.5 1,002.4 488.0 531.1
less: capitalized interest costs -- -- -- -- -- -- --
----------------------------------------------------------------------------
Net Earnings (1,562.2) (289.2) (1,101.0) 559.3 (690.9) (582.1) 297.1
- ------------------------------------------------------------------------------------------------------------------------------------
Interest expense (expensed or capitalized) 703.2 695.9 742.6 903.9 983.1 478.0 522.3
plus: amortization of debt expense and discount
related to indebtedness 13.5 12.0 11.0 10.5 10.0 5.2 5.0
plus: estimated interest portion of rent expenses
(estimated to be 1/3 of rents) 2.9 3.4 3.9 8.1 9.4 4.8 3.8
----------------------------------------------------------------------------
Fixed Charges 719.5 711.4 757.5 922.5 1,002.4 488.0 531.1
----------------------------------------------------------------------------
RATIO OF EARNINGS TO FIXED CHARGES -2.2x -0.4x -1.5x 0.6x -0.7x -1.2x 0.6x
- ------------------------------------------------------------------------------------------------------------------------------------
Earnings were insufficient to cover fixed charges by: 2,281.7 1,000.6 1,858.5 -- 1,693.3 1,070.1 --
Innova, S. de R.L. de C.V.
Ratio of earnings to fixed charges
Millions of Mexican Pesos in purchasing power as of:
----------------------------------------------------------------------------
December 31, 2002 June 30, 2003
----------------------------------------------------------------------------
US GAAP: 1998 1999 2000 2001 2002 Jan-Jun'02 Jan-Jun'03
---- ---- ---- ---- ---- ---------- ----------
Consolidated income (loss) from continuing operations
before provisions for income tax and employees' profit
sharing (3,797.3) (853.7) (1,408.3) (884.4) (1,724.3) (1,105.7) (229.9)
plus: amortization of capitalized interest and fixed
charges 842.9 724.1 756.3 920.6 1,002.4 488.0 531.1
less: capitalized interest costs -- -- -- -- -- -- --
----------------------------------------------------------------------------
Net Earnings (2,954.4) (129.5) (652.0) 36.2 (721.8) (617.7) 301.2
- ------------------------------------------------------------------------------------------------------------------------------------
Interest expense (expensed or capitalized) 826.6 708.7 741.4 902.0 983.1 478.0 522.3
plus: amortization of debt expense and discount
related to indebtedness 13.5 12.0 11.0 10.5 10.0 5.2 5.0
plus: estimated interest portion of rent expenses
(estimated to be 1/3 of rents) 2.9 3.4 3.9 8.1 9.4 4.8 3.8
----------------------------------------------------------------------------
Fixed Charges 842.9 724.1 756.3 920.6 1,002.4 488.0 531.1
- ------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------
RATIO OF EARNINGS TO FIXED CHARGES -3.5x -0.2x -0.9x 0.0x -0.7x -1.3x 0.6x
- ------------------------------------------------------------------------------------------------------------------------------------
Earnings were insufficient to cover fixed charges by: 3,797.3 853.7 1,408.3 -- 1,724.3 1,105.7 --