America Movil revenues flat in Q4, net profit surges to MXN 21 bln

News General Latin America and the Caribbean 12 FEB 2020
America Movil revenues flat in Q4, net profit surges to MXN 21 bln
America Movil reported revenues of MXN 263 billion in the final quarter of 2019, flat year on year following the previous quarter’s return to growth due mostly to the appreciation of the Mexican peso. However, the operator was keen to stress that underlying service revenue growth, excluding forex effects, accelerated to 3.2 percent from 2.5 percent in the previous quarter thanks above all to rising mobile revenues in Brazil (+15.6%), Colombia (+8.5%) and Mexico (+7.6%).

EBITDA came in at MXN 81.7 billion in Q4, up 7.3 percent year on year excluding extraordinary items, currency effects and Argentina. The EBITDA margin stood at 31.1 percent of revenues, up from 27.3 percent a year earlier, with net profit surging 63.4 percent to MXN 21.2 billion in the period, attributed to continued strong performance in the mobile platform and improving trends on the fixed one.

The company said it added 1.9 million postpaid subscribers in the fourth quarter, up from 1.6 million in Q3 and 8.1 percent year on year, including 1.2 million in Brazil, 242,000 in Mexico and 101,000 in Colombia. The prepaid base ended the quarter with 189.1 million subscribers, down 2.3 percent year on year, with pay-TV accesses declining by 2.8 percent and fixed-line RGUs down 0.4 percent year on year to just under 84 million. 

However, fixed broadband connections continued to climb, by 4.2 percent year on year to 31 million at the end of December, thanks to rises of of 1.9 percent in Brazil, 0.7 percent in Mexico and double digit growth in Central America, Argentina, Peru and Ecuador.

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