America Movil 1Q19 revenues up 3.1%; Guatemala takeover adds 1.45m mobile subs

30 Apr 2019

Mexico-based telecoms giant America Movil (AM) has reported revenues of MXN245.7 billion (USD13.0 billion) for the three months ended 31 March 2019, representing a decrease of 3.1% year-on-year, from MXN253.5 billion. EBITDA for the first quarter increased from MXN72.0 billion to MXN75.0 billion, while the company’s net income climbed from MXN18.8 billion in 1Q18 to MXN19.4 billion in the period under review.

In operational terms, AM closed out March 2019 with a consolidated base of 277.425 million wireless subscribers, down 0.6% from 279.102 million one year earlier. Mexico remains the group’s largest mobile market by subscribers, with 75.611 million customers, followed by Brazil with 56.383 million. AM’s total number of fixed line RGUs (including wireline, broadband and pay-TV) grew 1.7% y-o-y, to 84.492 million at end-March. Brazil accounted for the lion’s share of these accesses, with 34.993 million fixed RGUs as of Q1 2019, some way ahead of Mexico (22.350 million).

AM notes that it began consolidating the operations of Telefonica Moviles Guatemala (Movistar) on 1 February 2019, and the USD333 million takeover added 1.3 million pre-paid mobile subscribers, 150,000 post-paid clients and 402,000 fixed RGUs to its Central American user base. TeleGeography notes that the implied 1.450 million mobile base is dramatically less than the 3.907 million figure that the Superintendence of Telecommunications (Superintendencia de Telecomunicaciones, SIT) attributed to Movistar as of 31 December 2018.