América Móvil’s net income grows 13.7% in the third quarter

The telecommunications giant America Movilof the Mexican tycoon Carlos Slim, reported on Tuesday a net profit of 17,969 million pesos in the third quarter. Its result is 13.7% higher than the 15,811 million pesos reported for the same quarter, but for 2021.

The increase in net income, explained the report, was possible thanks to a 5.2% improvement in operating income to 43.6 billion pesos, after 16,500 million pesos in comprehensive financing cost (34.2% lower than in the year earlier, due to lower exchange rate pressures).

The total income of this company, which is the jewel of Slim’s business empire, totaled 214,466 million pesos. Against the 210,771 million pesos reported by América Móvil in the third quarter of last year, the company’s revenues rose 1.8 percent.

EBITDA increased 2.3% year over year to 83.2 billion pesos or 5% at constant exchange rates compared to 81.346 million pesos in the third quarter of 2021. At the end of September, net debt, without leases, was 411.7 billion (1.39 times EBITDA).

Income from services grows

Service revenues grew 3% in nominal pesos and 5.9% year over year. Mobile services grew more than 9% year over year, in prepaid and postpaid, with the fastest growth rate in at least five quarters. Revenues from fixed services remained stable.

“In the third quarter we added 2.9 million mobile subscribers, including 1.9 million postpaid clients,” the company highlighted in its report sent to the Mexican Stock Exchange. Half, from Brazil; 329,000, from Austria; 215,000 from Colombia, and 155,000 from Peru, he said.

In the prepaid segment, it added one million new subscribers. Mexico reported 402,000 additions; Colombia, 307,000, and Central America and Eastern Europe contributed almost 135,000 each. In fixed line it had 156,000 broadband accesses: 95,000, Argentina; 31,000 in Central America.

jose.rivera@eleconomista.mx