AM 2Q15 revenues drop 0.1%; net income drops 16.0%

17 Jul 2015

Carlos Slim-backed America Movil (AM) has reported revenues of MXN219.999 billion (USD13.920 billion) for the three month period ended 30 June 2015, representing a drop of 0.1% year-on-year. EBITDA for the quarter decreased 5.0% from MXN71.899 billion to MXN68.333 billion on an annualised basis, while the company’s net income plummeted 16.0% y-o-y, from MXN16.721 billion to MXN14.048 billion. AM notes that its second quarter results have been impacted by ‘a mixed bag of economic indicators throughout Latin America’, highlighting Brazil’s descent ‘deeper into negative territory’ and ‘the rest of the region experiencing relatively stable, albeit decelerating, economic growth’.

In operational terms, AM closed out June 2015 with a consolidated base of 288.796 million wireless subscribers, up 0.8% from 286.593 million one year earlier. Mexico remains the company’s largest mobile market by subscribers, with 72.633 million customers, closely followed by Brazil (71.202 million). Meanwhile, AM’s total number of fixed line revenue generating units (RGUs, including wireline, broadband and pay-TV) grew 3.7% y-o-y, to 78.870 million. Brazil accounted for the lion’s share of these, with 36.516 fixed RGUs as of mid-2015.

Mexico, America Movil (AM)