Telmex back in the black

28 Apr 2006

Mexican-based fixed line group Teléfonos de México (Telmex) has posted its first quarterly profit since early 2005, as its first quarter net income rose 13% to MXN7.59 billion (USD697 million) despite flat sales, and helped by exchange gains in some of its foreign operations. Revenues in the three months ended 31 March 2006 fell 0.4% to MXN41.56 billion, whilst EBITDA was down 2.8% to MXN18.8 billion. Sales in its domestic market, which account for around 90% of EBITDA, fell 2.3% to MXN30.3 billion. Telmex added 276,000 fixed lines in the period to end March with 18.65 million lines in service. ADSL subscribers were up 82.4% year-on-year to 1.213 million. Outside of Mexico, Telmex has fixed line operations in Brazil, Chile, Peru, Argentina and Colombia. Earlier this month the telco and its sister mobile group América Móvil agreed to jointly acquire a 29% stake in Venezuelan incumbent CANTV for USD676.6 million.

Mexico, Telefonos de Mexico (Telmex)