AM 1Q18 revenues drop 3.7% y-o-y; net income plummets 50.5%

25 Apr 2018

Carlos Slim-backed America Movil (AM) has reported revenues of MXN254.4 billion (USD13.5 billion) for the three months ended 31 March 2018, representing a decrease of 3.7% year-on-year. Adjusted EBITDA for the quarter dropped 0.8% to MXN71.2 billion while the company’s net income plummeted from MXN35.9 billion in 1Q17 to MXN17.8 billion in the period under review, with currency fluctuations ravaging the group’s bottom line.

In operational terms, AM closed out March 2018 with a consolidated base of 279.102 million wireless subscribers, down 0.3% from 279.818 million one year earlier. Mexico remains the group’s largest mobile market by subscribers, with 73.984 million customers, followed by Brazil with 58.809 million. AM’s total number of fixed line RGUs (including wireline, broadband and pay-TV) grew 0.3% y-o-y, to 83.111 million at end-March. Brazil accounted for the lion’s share of these accesses, with 35.861 fixed RGUs as of Q1 2018.

Mexico, America Movil (AM)