America Movil reports 2007 results

6 Feb 2008

Mexico-based wireless holding company America Movil has announced its year end results which show it added 28.6 million customers to its ranks in 2007 to take its wireless base to 153.4 million. Of the year’s net additions, 6.8 million were added in the group’s domestic market, 6.3 million in Brazil and 3.4 million in Argentina. Colombia, Central America and Peru each added two million subscribers, with its US operation adding 1.6 million customers and the Caribbean 1.4 million. Revenues in 2007 rose 28.2% year-on-year to MXN312 billion (USD28.88 billion), while EBITDA rose 41.6% to MXN127 billion. Operating profit stood at MXN86 billion, up 40%, while net profit climbed 31.9% to MXN58.6 billion.

Mexico, America Movil (AM)