America Movil reports 3Q results

22 Oct 2007

Latin American wireless group America Movil added 6.2 million wireless customers to its ranks in the third quarter of 2007, to take its total to 143.4 million. In its domestic market of Mexico, wholly owned subsidiary Telcel added 1.4 million customers to take its total to 47.5 million, while in Brazil Claro reported its best ever third quarter, adding 1.7 million customers in the three months to take its total to 27.98 million. Revenues for the three months ended 30 September 2007 were MXP77.8 billion (USD7.2 billion), up 29.8% year-on-year, while EBITDA rose 44.6% to MXP31.9 billion, representing an EBITDA margin of 41%. Operating profits rose 29.9% to MXP19.7 billion.

Mexico, America Movil (AM)