America Movil reports revenue increase for FY17 despite marginal drop in accesses

14 Feb 2018

Mexican telecoms giant America Movil (AM) has published its financial results for both the year ended 31 December 2017, noting that the last quarter of the year had ‘ended on a strong note, with inflation seemingly well contained and economic growth speeding up in most of the world, both in developed and in emerging countries’. In the full fiscal year AM generated a total turnover MXN1.02 trillion (USD54.9 billion), up from MXN975.4 billion in FY 2016, with service revenues standing at MXN878.4 billion for the twelve-month period, representing year-on-year growth of 5.6%. Adjusted EBITDA in FY 2017 was MXN277.3 billion, up 3.5% from the MXN255.9 billion reported a year earlier, while AM recorded a net income of MXN29.3 billion, up significantly from MXN8.6 billion in 2016.

In operational terms, at the end of 2017 AM had a total of just under 362 million accesses on its books, slightly less than a year before, with an increase in mobile post-paid (up 6.4% y-o-y) and fixed-broadband accesses (up 4.2%) failing to fully offset declines in mobile pre-paid and pay-TV subscriptions, both of which fell by 2.6%, while fixed voice lines fell 1.9%. Of the group total, wireless access continued to represent the lion’s share – 279.0 million, down marginally from 280.8 million at end-2016 – while the company reported 82.8 million ‘fixed line and other accesses’ (FY16: 82.9 million).

Mexico, America Movil (AM)