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America Movil Q1 net profit $534 million

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Staff writer ▼ | April 27, 2015
America Movil announced its financial and operating results for the first quarter of 2015. The company ended March with 368 million access lines after net additions of 125 thousand in the quarter.
America Movil
America Movil   289.6 million wireless subscribers
The company reported a quarterly net profit of 8.2 billion pesos ($534 million), versus a year-ago profit of 13.9 billion pesos ($904 million).

This figure includes 289.6 million were wireless subscribers, 34.5 million landlines, 22.3 million broadband accesses and 21.6 million PayTV units.

Brazil was the largest and fastest growing operation. The company finished March with 108.3 million access lines, 5.8% more than the year before. Q1 revenues totaled 220 billion pesos, 3.1% more than a year before in Mexican peso terms. At constant exchange rates service revenues were up 1% in the quarter (pro-forma).

Mobile data revenues continued to be the more important driver of growth, followed by PayTV, rising 12%, and 9.9%, respectively. Fixed broadband revenues increased 9.2%, while voice revenues continued their downward trend in both fixed and mobile platforms.

Consolidated EBITDA totaled 68.2 billion pesos in the quarter. At constant exchange rates it was down 2.1% year on ye

ar. The EBITDA margin stood at 31 of revenues. Operating profits declined 6.6% in Mexican peso terms as depreciation and amortization charges rose 1.6%.

Company's comprehensive financing cost reflected foreign exchange losses of 17.8 billion pesos, mostly on account of the sharp depreciation of the Brazilian real vs. the U.S. dollar in the quarter.

In the quarter we funded capital expenditures in the amount of 29 billion pesos and distributed 11.4 billion pesos to shareholders. Net debt ended March at 536 billion pesos. It was equivalent to 1.75 times LTM EBITDA.