América Móvil reports 4.3% year-on-year increase in Ebitda

This is a machine translation of the original America Movil release published in Spanish.

Mexico City - América Móvil, SAB de CV (“América Móvil”) [BMV:AMX] [NYSE: AMX, AMOV], today announced its financial and operating results for the first quarter of 2022.

Consolidated figures exclude TracFone as it is considered a discontinued operation.

3.2M net subscriber additions

We added 3.2 million mobile subscribers in the first quarter, including 1.9 million postpaid clients, of which more than half are from Brazil, 299,000 from Colombia and 217,000 from Austria. Our postpaid base increased 8.4% year-on-year to 110 million subscribers.

In the prepaid segment we added 1.3 million subscribers. Mexico contributed with 485,000 additions, Colombia 349,000 and Brazil and Central America with approximately 200,000 each.

On the fixed line platform, we obtained 232,000 broadband accesses, including 68,000 in Argentina and 63,000 in Mexico, raising the total base to 30.7 million accesses, 2.3% more than in the previous year.

Service revenues +3.3% year-on-year at constant exchange rate

First quarter revenues, 211.2 billion pesos, increased 2.4% year-on-year in nominal peso terms, with service revenues increasing 3.3% both in nominal terms and at constant exchange rates.

Mobile services +6.3% with prepaid and postpaid growing 8.0% and 5.2%, respectively

At constant exchange rates, mobile service revenues were up 6.3% year-on-year, with prepaid revenues increasing 8.0% and postpaid 5.2%. Mexico, Brazil and Peru increased their revenues from mobile services at a rate of around 10%.

Fixed service revenues decreased 1.1% as a result of a further drop in voice revenues, which fell 5.8% on an annual basis, compared to -3.6% in the previous quarter.

EBITDA +4.3% annual at constant exchange rate

EBITDA increased 4.2% year-on-year to 81.1 billion pesos—4.3% at constant exchange rates—with the EBITDA margin expanding to 38.4% from 37.8% a year ago.

Operating profit +6.1% to 39.8 billion pesos

Net profit of 30.8 billion pesos

Net income was 30.8 billion pesos, compared to 1.8 billion pesos in the same quarter of the previous year, as a result of the strong performance of operating income and comprehensive financing income of 7.3 billion. pesos derived from foreign exchange gains of 22.6 billion pesos.

Distributions to shareholders of 9.2bn pesos doubled on an annual basis

Our investment expense was financed mainly with new loans given the seasonality of our cash flow, distributions to shareholders increased 109% in the first quarter to 9.2 billion pesos.

Net debt ratio

At the end of March, our EBITDA net debt ratio—excluding leases—was 425 billion pesos, equivalent to 1.33 times EBITDAaL. This figure already reflects the effects on EBITDA of the sale of TracFone in November 2021.