America Movil growth slows on weak Mexican market

Friday 25 October 2013 | 08:05 CET | News
America Movil reported a slowdown in third-quarter results, hurt by the weak economy in its home market Mexico. Revenues rose just 0.7 percent to MXN 194.2 billion, and EBITDA fell 5.8 percent from a year earlier to MXN 63.3 billion. At constant exchange rates, revenue rose 7.5 percent, and EBITDA was down 0.5 percent. The company's net profit nearly halved, to MXN 16.4 billion versus MXN 30.5 billion a year ago, as it moved to forex losses of MXN 9.0 billion. Net debt was up by MXN 68 billion from the start of the year, to MXN 440 billion, but was still at just 1.66 times EBITDA. America

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Categories: General
Companies: America Movil
Countries: Latin America
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