America Movil SAB de CV

Latest Results (17.12.2024):

Revenue Growth

In the third quarter of 2024, América Móvil SAB de CV reported a total revenue of 223 billion pesos. This represents an 11.3% year-on-year increase in service revenue in Mexican peso terms, partly due to the depreciation of the Mexican peso against other regional currencies, except for the Brazilian real. At constant exchange rates, service revenue rose by 5.5%, showing an improvement from the 4.7% growth rate in the previous quarter.

Subscriber Additions

América Móvil added 1.8 million subscribers in the third quarter of 2024, with 1.4 million being postpaid subscribers. Brazil contributed 291 thousand, Colombia 159 thousand, and Mexico 108 thousand to the postpaid subscriber base. The prepaid segment saw 468 thousand net additions, led by Colombia, Eastern Europe, and Argentina.

EBITDA and Profit

For the third quarter of 2024, América Móvil's EBITDA increased by 11.9% in Mexican peso terms and 6.3% at constant exchange rates. Adjusted for one-off items, primarily from tower sales, EBITDA rose by 7.3%. The company posted a net profit of 6.4 billion pesos, supported by a 14.2% increase in operating profit and a 4.8% reduction in comprehensive financing costs.

Fixed-Line Segment

In the fixed-line segment, América Móvil connected 327 thousand new broadband accesses during the third quarter of 2024. Mexico added 116 thousand, Brazil 59 thousand, and Argentina 44 thousand new broadband connections. Fixed-broadband accesses increased by 5.2% year-on-year, contributing to the overall growth in the fixed-line platform service revenue, which rose by 5.9% at constant exchange rates.

Debt and Financial Position

As of the end of September 2024, América Móvil's net debt, excluding leases, stood at 433 billion pesos. The net debt-to-EBITDAaL ratio was 1.34 times. The company's net financing of 19.7 billion pesos, combined with its operating cash flow, enabled it to cover 86.7 billion pesos in capital expenditures, 32.9 billion pesos in shareholder distributions, and 23.7 billion pesos in labor obligations over the nine months through September.