Impressive Q2 for América Móvil

23 Jul 2003

Mexican mobile holding company América Móvil [AMXA.MX] has reported a 52.4% rise in net profit for the second quarter of 2003, reaching MXN4.5 billion (USD430 million) at the end of the period. Revenues increased by 45% to MXN19.7 billion in the quarter, while EBITDA jumped by 47% to MXN7.6 billion; Mexican cellco Telcel contributed 63% of revenues and 71% of EBITDA. América Móvil also increased its total customer base by 2.6 million to end the period with a total of 35.8 million; around a million of the new additions were derived from the acquisition of Brazilian operator BSE in May 2003. Subscribers at Telcel grew by 2.7% to 21.3 million during the three-month period, while customers at the company’s other subsidiaries increased by 16.5% to 14.5 million. As well as Telcel, América Móvil’s main subsidiaries include Brazilian cellcos ATL, Tess, Telet, Americel and the newly acquired BSE, which are held under its Telecom Americas unit, Comcel and Occel of Colombia, Telgua of Guatemala, Ecuador’s Conecel and Argentina’s Techtel.