America Movil adds mobile and fixed-broadband clients in Q3

America Movil on Wednesday announced its financial and operating results for the third quarter of 2019.
America Movil CEO Carlos SlimAmerica Movil added 1.6 million post-paid subscribers, including 928 thousand in Brazil, 215 thousand in Mexico and 159 thousand in Austria.

America Movil added 208 thousand new fixed-broadband clients.

Mobile post-paid and fixed-broadband are the main drivers of access growth at 7.8 percent and 5.6 percent.

America Movil’s mobile prepaid subs and PayTV units declined 3.5 percent and 2.5 percent, while fixed-voice connections were roughly flat.

America Movil reported revenues of 248 billion pesos, registering 0.2 percent growth, during the third quarter.

The mobile business grew 4.6 percent — 11.1 percent in Brazil, 8.2 percent in Mexico, 4.7 percent in both Colombia and European operations. The fixed-line business fell 1.2 percent mostly on account of the reduction of voice revenues.

America Movil reported EBITDA of 78.8 billion pesos accounting for 31.7 percent of revenues. EBITDA rose 7.2 percent. Operating profits grew 7.3 percent to 38.1 billion pesos.

America Movil clocked net profit of 13 billion pesos, equivalent to 20 peso cents per share or 20 dollar cents per ADR.

America Movil ended the September quarter with 278.7 million wireless subscribers after adding 1.6 million post-paid subscribers including 928 thousand from Brazil, 215 thousand from Mexico and 159 thousand from Austria—and disconnecting 827 thousand prepaid subs, 905 thousand of them in Brazil.

America Movil had 84.3 million fixed customers after net disconnections of 229 thousand fixed-RGUs, resulting from 208 thousand new broadband accesses and the disconnection of 247 thousand wire-lines and 190 thousand PayTV units.

Mobile services revenue rose 4.6 percent — with revenues growing 11.1 percent in Brazil, 8.2 percent in Mexico, 4.7 percent in both Colombia and our European operations. Revenue from the Dominican Republic and Central America also registered strong performance.

Fixed-line service revenues fell 1.2 percent because the reduction of fixed voice revenues has countered the revenue increases from fixed-broadband services and corporate networks, 5.7 percent and 6.7 percent respectively.

PayTV revenues, though dropped 3.3 percent, stabilized in the third quarter, posting 2 percent sequential increase.