AM records 10.6% increase in full-year net profits

13 Feb 2013

Despite registering an 8.2% year-on-year decline in net income in the last quarter of 2012, Latin American telecoms giant America Movil (AM) has reported a 10.6% increase in net profit for the full year ended 31 December 2012. The company recorded a net income of MXN91.441 billion (USD6.95 billion) in FY2012, up from MXN82.698 billion a year earlier, on consolidated revenues that increased by 6% to MXN705.507 billion. Net profit in the final three months of 2012 stood at MXN14.962 billion, down compared to MXN16.307 billion in 4Q11, with the company generating a turnover of MXN198.012 billion in the three-month period, representing a 1.1% y-o-y decline. The fall in revenue in the last quarter was attributed in part to the depreciation of various currencies against the Mexican peso, particularly the US dollar and the Brazilian real. Full-year EBITDA totalled MXN260.895 billion, flat compared to the MXN259.812 billion recorded in FY 2011, while in the last quarter of 2012 EBITDA stood at MXN61.659 billion, a decline of 8.0% against 4Q11.

In operational terms, AM ended 2012 with 325.7 million total accesses, up 8.7% against end-December 2011, with wireless subscribers accounting for the bulk – 261.6 million – of those, having increased by 8.2% over the twelve-month period. Fixed voice connections meanwhile numbered 30.5 million at end-2012, while the company also recorded 17.2 million broadband accesses and 16.4 million pay-TV subscribers at that date.

Mexico, America Movil (AM)