Exhibit 12.1
Axtel, S.A. de C.V. And Subsidiaries
Ratio of earnings to fixed charges
December 31,2003, 2002, 2001, 2000, 1999
(Thousand of constant pesos as of December 31, 2003, 2002, 2001, 2000)
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Dec-99 Dec-00 Dec-01 Dec-02 Dec-03
Constant pesos Constant pesos Constant pesos Constant pesos Constant pesos
as of Dec 99 as of Dec 00 as of Dec 01 as of Dec 02 as of Dec 03
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Income (Loss) before income taxes
and employees' profit sharing (310,407) (836,311) (677,773) (1,012,117) 1,390,866
Fixed charges:
Interest Expense 56,567 232,940 374,629 415,584 218,305
Amortization of deferred charges - 3,436 13,502 20,117 11,080
Operating Leases @ 33% 11,035 53,966 78,573 66,849 64,363
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Total Fixed Charges 67,602 290,342 466,704 502,550 293,748
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Inflation Information
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National Consumer Price Index at the
end of each period 338.175 338.175 355.084 375.324 390.299
National Consumer Price Index as
of Dec 31, 2003 390.299 390.299 390.299 390.299 390.299
Inflation Index 1.15413 1.15413 1.09917 1.03990 1.00000
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Axtel, S.A. de C.V. And Subsidiaries
Ratio of earnings to fixed charges
December 31, 2003, 2002, 2001, 2000, 1999
(Thousand of constant pesos as of
December 31, 2003)
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Dec-99 Dec-00 Dec-01 Dec-02 Dec-03
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Constant pesos as of Dec 03
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Income (Loss) before income taxes and
employees' profit sharing (358,251) (965,214) (744,991) (1,052,500) 1,390,866
Fixed charges:
Interest Expense 65,286 268,844 411,782 432,165 218,305
Amortization of deferred charges - 3,966 14,841 20,920 11,080
Operating Leases @ 33% 12,736 62,284 86,366 69,516 64,363
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Total Fixed Charges: 78,022 335,094 512,989 522,601 293,748
Income (Loss) before income tax and employees'
profit sharing + fixed charges (280,229) (630,120) (232,002) (529,899) 1,684,614
Ratio of earnings to fixed charges (3.59) (1.88) (0.45) (1.01) 5.73
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Note:
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Information according to Mexican GAAP