AMÉRICA MÓVIL, S.A.B. DE C.V. América Móvil's first quarter of 2023 financial and operating report
April 25th, 2023 / 1Q23
Mexico City - América Móvil, S.A.B. de C.V. ("América Móvil") [BMV: AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the first quarter of 2023.
- We added 1.1 million wireless subscribers in the first quarter, including 1.9 million postpaid clients over half of which came from Brazil, 944 thousand, 285 thousand from Austria, 164 thousand from Colombia and 128 thousand from Peru.
- In the prepaid segment we had net disconnections of 754 thousand subscribers as Brazil disconnected 1.4 million, including 1.6 million former Oi subs. Colombia contributed with 354 thousand net adds, Argentina 190 thousand and Central America and Ecuador with 110 thousand each.
- On the fixed-line platform we obtained 313 thousand broadband accesses, including 139 thousand in Mexico, 74 thousand in Argentina and 47 thousand in Brazil.
- First quarter revenue of 208.9 billion pesos was up 1.7% year-on-year in nominal peso terms, with service revenue declining 2.2%. At constant exchange rates service revenue was up 6.3% year-on-year.
- Fixed-lineservice revenue increased 1.8% at constant exchange rates, its best performance in over a year. The improvement of fixed-line service revenue growth was driven mostly by Mexico, Brazil and Colombia.
- Mobile service revenue was up 9.3% year-on-year at constant exchange rates with prepaid revenue rising 8.2% and postpaid revenue 9.9%.
- EBITDA came in at 82.7 billion pesos, 3.2% more than a year before in nominal peso terms. At constant exchange rates, EBITDA was up 12.6% year-on-year. Adjusting for extraordinary items, it rose 5.8%.
- Our operating profit increased 9.7% to 44.1 billion pesos which helped bring about a net profit of 30.1 billion pesos, slightly down, -2.1%, from the year-earlier quarter, since we obtained lower foreign exchange gains.
- Our capital expenditures totaled 29.2 billion pesos, with share buybacks amounting to 1.9 billion pesos. Our outflows were funded by our operating cash flow, by net borrowings of 2.4 billion pesos and the freeing-up of 5.9 billion pesos in assets formerly invested in our pension funds.
- Our net debt excluding leases totaled 365.1 billion pesos at the end of March, having come down by 16.4 billion pesos from the end-of-December figure. It was equivalent to 1.39 times LTM EBITDAaL.
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Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary
We will host our conference call to discuss 1Q23 financial and operating results on April 26th at 9:00 am Mexico City time. To access the call please log on to www.americamovil.com/investors
América Móvil Fundamentals
1Q23 | 1Q22 | |
Earnings per Share (Mex$) (1) | 0.48 | 0.48 |
Earning per ADR (US$) (2) | 0.51 | 0.47 |
EBITDA per Share (Mex$) (3) | 1.31 | 1.24 |
EBITDA per ADR (US$) | 1.40 | 1.21 |
Net Income (millions of Mex$) | 30,146 | 30,797 |
Average Shares Outstanding (billion) | 63.3 | 64.5 |
Shares Outstanding End of Period (billion) | 63.2 | 64.2 |
- Net Income / Average Shares Outstanding
- 20 shares per ADR
- EBITDA / Average Shares Outstanding
América Móvil's Subsidiaries as of March 2023
Country | Brand | Main Activity | Equity |
Mexico | Telcel | wireless | 100.0% |
Telmex | wireline | 98.8% | |
Argentina | Claro | wireless | 100.0% |
Brazil | Claro | wireless/wireline | 99.6% |
Colombia | Claro | wireless/wireline | 99.4% |
Costa Rica | Claro | wireless/wireline | 100.0% |
Dominicana | Claro | wireless/wireline | 100.0% |
Ecuador | Claro | wireless/wireline | 100.0% |
El Salvador | Claro | wireless/wireline | 95.8% |
Guatemala | Claro | wireless/wireline | 99.3% |
Honduras | Claro | wireless/wireline | 100.0% |
Nicaragua | Claro | wireless/wireline | 99.6% |
Paraguay | Claro | wireless/wireline | 100.0% |
Peru | Claro | wireless/wireline | 100.0% |
Puerto Rico | Claro | wireless/wireline | 100.0% |
Uruguay | Claro | wireless/wireline | 100.0% |
Netherlands | KPN | wireless/wireline | 17.2% |
Austria | A1 | wireless/wireline | 51.0% |
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Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary
Note
Upon its sale in July 2022 Claro Panama became a discontinued operation. Claro Chile did so as well upon the establishment of the joint venture with Liberty Latin America in October 2022. The financial statements presented in this report account for those operations as discontinued operations.
The reported figures for Argentina corresponding to the first quarter of 2023 are presented in accordance with IAS29 reflecting the effects of inflationary accounting as the Argentinean economy is deemed to be hyperinflationary. All comparisons at constant exchange rates for America Movil's consolidated figures will exclude Argentina to ensure consistency.
Relevant Events
América Móvil extends Telekom Austria's shareholders agreement
On February 6th we entered into an agreement with Österreichische Beteiligungs AG ("OBAG"), with respect to Telekom Austria AG. This agreement extends AMX and OBAG´s partnership in Telekom Austria AG for a new 10-year term, under the leadership and control of AMX.
AMX and OBAG have agreed to support the spin-off of the mobile towers owned by Telekom Austria in most of the countries in which it operates including Austria. The tower spin-off will enable a more efficient capital allocation and will provide Telekom Austria with greater financial capacity to execute its investment plans.
América Móvil converts its stock into a single series
On March 16th we converted our stock into a single series of ordinary shares with full voting rights. This action was approved by an extraordinary shareholders assembly in December 2022.
Buyback program of MXP 20Bn
On April 14th our shareholders approved a share-buyback fund in the amount of 20 billion pesos for the April 2023-April 2024 period.
América Móvil issued bonds
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Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary
On March 23rd we issued bonds in the Mexican market in three tranches totaling 12.4 billion pesos. These included a five year fixed-rate peso bond with a principal amount of 11.0 billion pesos and a 9.35% coupon.
Access Lines
1.1M wireless net adds
In the first quarter we added 1.1 million wireless subscribers of which 1.9 million were postpaid clients. Almost half of the new postpaid subs, 944 thousand, came from Brazil, 285 thousand from Austria, 164 thousand from Colombia and 128 thousand from Peru.
On our prepaid platform we had net disconnections of 754 thousand clients in the first quarter as Brazil disconnected 1.4 million, including 1.6 million former Oi subs that were not generating traffic. In other countries we had solid growth, including Colombia with 354 thousand, Argentina with 190 thousand and Central America and Ecuador with 110 thousand each.
313k new broadband accesses
On the fixed-line segment we obtained 313 thousand broadband accesses including 139 thousand in Mexico, 74 thousand in Argentina and 47 thousand in Brazil. Voice access lines and PayTV units came down by 115 thousand and 68 thousand, respectively, in the quarter.
At the end of March we had 301 million wireless subscribers, of which 116 million were postpaid clients, and 73 million fixed-line RGUs, including 31 million broadband accesses, 13 million Pay TV clients and 29 million land-lines. Our postpaid base increased 8.7% year-on-year, with prepaid expanding 5.6%, fixed-broadband 2.6% and PayTV practically flat.
Wireless subscribers as of March 2023
Total(1) (Thousands)
Country | Mar '23 | Dec '22 | Var.% | Mar '22 | Var.% |
Argentina, Paraguay and Uruguay | 27,178 | 26,915 | 1.0% | 26,463 | 2.7% |
Austria | 9,250 | 8,973 | 3.1% | 8,084 | 14.4% |
Brazil | 82,844 | 83,260 | -0.5% | 71,804 | 15.4% |
Central America | 16,845 | 16,673 | 1.0% | 16,024 | 5.1% |
Caribbean | 7,410 | 7,345 | 0.9% | 7,143 | 3.7% |
Colombia | 38,068 | 37,550 | 1.4% | 35,710 | 6.6% |
Eastern Europe | 14,867 | 14,924 | -0.4% | 14,837 | 0.2% |
Ecuador | 9,163 | 9,028 | 1.5% | 8,747 | 4.8% |
Mexico | 82,982 | 82,851 | 0.2% | 80,990 | 2.5% |
Peru | 12,347 | 12,338 | 0.1% | 12,066 | 2.3% |
Total Wireless Lines | 300,952 | 299,856 | 0.4% | 281,867 | 6.8% |
- Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated.
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Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary
Fixed-Line and Other Accesses (RGUs) as of March 2023
Total(1) (Thousands) | |||||
Country | Mar '23 | Dec '22 | Var.% | Mar '22 | Var.% |
Argentina, Paraguay and Uruguay | 3,055 | 2,865 | 6.6% | 2,183 | 39.9% |
Austria | 2,917 | 2,946 | -1.0% | 3,019 | -3.4% |
Brazil(2) | 23,889 | 24,136 | -1.0% | 24,991 | -4.4% |
Central America | 4,700 | 4,624 | 1.7% | 4,444 | 5.8% |
Caribbean | 2,734 | 2,774 | -1.4% | 2,639 | 3.6% |
Colombia | 9,263 | 9,248 | 0.2% | 9,003 | 2.9% |
Eastern Europe | 3,304 | 3,258 | 1.4% | 3,055 | 8.1% |
Ecuador | 623 | 614 | 1.4% | 560 | 11.3% |
Mexico | 20,944 | 20,824 | 0.6% | 21,361 | -2.0% |
Peru | 1,985 | 1,994 | -0.5% | 1,931 | 2.8% |
Total RGUs | 73,413 | 73,283 | 0.2% | 73,186 | 0.3% |
(1)Fixed Line, Broadband and Television (Cable & DTH).
- The number of Pay TV units has been adjusted to the criteria by which we report to the local regulator.
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Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary
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Disclaimer
América Móvil SAB de CV published this content on 25 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2023 22:26:05 UTC.
