America Movil 4Q21 revenues up 7.7% to MXN227.3bn

9 Feb 2022

Carlos Slim-backed America Movil (AM) has reported revenues of MXN227.3 billion (USD11.0 billion) for the three months ended 31 December 2021, up 7.7% from MXN211.1 billion in 4Q19. EBITDA for Q4 climbed 16.6% to MXN89.8 billion, while the company’s fourth quarter net income reached MXN135.6 billion, up 263.4% from MXN37.3 billion in the last three months of 2020. (Note: AM completed the sale of its US MVNO business TracFone Wireless on 23 November 2021 and the financial statements account for TracFone as a discontinued operation.)

In operational terms, AM closed out December 2021 with a consolidated mobile subscription base of 286.531 million, compared to 266.815 million one year earlier. Mexico remains the company’s largest single market in terms of mobile connections, with 80.539 million subscriptions. Meanwhile, AM’s total number of ‘fixed line and other accesses’ (including fixed voice, fixed broadband and pay-TV) dipped from 80.740 million in 4Q20 to 80.465 million. Brazil accounted for the lion’s share of these, with 31.287 million fixed RGUs as of end-2021.

Mexico, America Movil (AM)