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America Movil growth slows on weak Mexican market
2013-10-25 08:05:00| Telecompaper Headlines
(Telecompaper) 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 Movil's subscriber growth remained strong in the quarter, with the mobile base growing by 3.1 million in the three months to 265 million. This included almost a million new customer at Claro in Brasil and around half a million each in Colombia, Mexico and Central America. The fixed-line base grew by 1.4 million revenue-generating units compared to June to a total 68.3 million. This included 698,000 new TV customers, 470,000 broadband subscribers and 256,000 fixed lines.
Tags: market
america
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Category:Telecommunications
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