America Movil to add 50 million new subscribers over next three years

9 Feb 2007

America Movil (AM) expects to welcome around 50 million new users to its ranks over the next three years. Latin America’s largest wireless group said it expects to gain around half of the region’s estimated 100 million new mobile phone users in the 2007-2009 period. In 2007 alone the Mexican-based company expects to add 20 million new subscribers, though this is 36% less than the 31.4 million new clients in 2006; as it stood at the end of 2006 AM’s total subscriber base was close to 125 million.

In the year ending 31 December 2006 AM reported a turnover of MXP234.2 billion (USD21.3 billion), a 23.6% increase on the previous year’s figure. EBITDA rose from MXP57.18 billion to MXP85.991 while net income climbed 31.9% to MXP43.4 billion.

Mexico, America Movil (AM)