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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  América Móvil, S.A.B. de C.V.    AMX L   MXP001691213

AMÉRICA MÓVIL, S.A.B. DE C.V.

(AMX L)
  Report
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America Móvil B de C : Q3 2020 Quarterly Report

10/20/2020 | 05:40pm EST

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Carlos García-Moreno

Chief Financial Officer carlos.garciamoreno@amovil.com

Daniela Lecuona Torras

Investor Relations Office daniela.lecuona@americamovil.com

América Móvil's third quarter of 2020 financial and operating report

3Q20

Mexico City, October 20th, 2020 - América Móvil, S.A.B. de C.V. ("América Móvil") [BMV:

AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the third quarter of 2020.

Mexico

Argentina

  • As confinement measures began to be lifted our commercial activity saw a rebound in most countries in our region of operations.
  • Postpaid net additions totaled 1.8 million wireless subscribers, the majority coming from Brazil, Austria and Colombia. In the prepaid segment, we gained 1.4 million clients including 1.2 million in Mexico, approximately 300 thou- sand in each of Colombia and Ecuador, and 237 thousand in Peru.

1.8M postpaid net adds

Brazil

Colombia

Chile

  • Fixed-broadbandremains the main driver on the fixed-line platform; we con- nected 446 thousand new broadband accesses, including 122 thousand in Colombia, 117 thousand in Mexico, 70 thousand in Peru and 62 thousand in Brazil.
  • Third quarter revenues of 260 billion pesos rose 4.7% year-on-year in Mexican peso terms as service revenues expanded 5.4%. At constant exchange rates, service revenues increased 1.5%. from 0.8% in the prior quarter with those on the mobile platform accelerating to 3.5% from 2.3% in the prior quarter.

446k new broadband accesses

3Q Revenues +4.7% YoY

Ecuador

Peru

Central America

Caribbean

  • Mobile service revenues were lifted by prepaid revenues which rose 2.5% af- ter declining 2.0% the prior quarter.
  • EBITDA of 86.5 billion pesos was up 10.1% in Mexican peso terms. At constant exchange rates EBITDA increased 7.2%, more than twice as in the prior quar- ter.
  • Our operating profit jumped 18.4% to 45.1 billion pesos and helped bring about an increase of 45% in our net income of 18.9 billion pesos in the third quarter, even after financing costs of 22.4 billion pesos that were up 82% year-on-year.

Prepaid revenues +2.5% YoY

EBITDA +7.2% Yoy at constant Fx

Operating profit +18% YoY

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

Our cash flow covered our capital expenditures of 91.0 billion pesos and al-

CapEx of MxP 91 Bn

lowed us to significantly reduce our liabilities, directing 47.0 billion pesos to

the reduction of our net debt and 15 billion pesos to pension obligations.

At the end of September our net debt stood at 726 billion pesos, up from

Net debt to EBITDA

677 billion pesos relative to December on account of the depreciation of the

at 1.88x

Mexican peso vs. the U.S. dollar and the euro. It stood at 1.88 times EBITDA

under IAS 17.

We will host our conference call to discuss 3Q20 financial and operating results on October 21st at 9:00 am

Mexico City time. To access the call please log on to www.americamovil.com/investors

CONTENT

page 2

Highlights

América Móvil Fundamentals

Relevant events

3Q20

3Q19

Earnings per Share (Mex$) (1)

0.28

0.20

Subscribers

Earning per ADR (US$) (2)

0.26

0.20

EBITDA per Share (Mex$) (3)

1.30

1.19

América Móvil

EBITDA per ADR (US$)

1.18

1.22

Consolidated

Net Income (millions of Mex$)

18,861

13,043

Average Shares Outstanding (billion)

66.37

66.01

Mexico

(1) Net Income / Average Shares Outstanding

(2) 20 shares per ADR

(3) EBITDA / Average Shares Outstanding

Argentina

América Móvil's Subsidiaries as of September 2020

Country

Brand

Business

Equity

Brazil

Participation

Mexico

Telcel

wireless

100.0%

Colombia

Telmex

wireline

98.8%

Sección Amarilla

other

100.0%

Telvista

other

90.0%

Chile

Argentina

Claro

wireless

100.0%

Telmex

wireline

100.0%

Ecuador

Brazil

Claro

wireless/wireline

98.5%

Chile

Claro

wireless

100.0%

Telmex

wireline

100.0%

Peru

Colombia

Claro

wireless/wireline

99.4%

Costa Rica

Claro

wireless

100.0%

Central America

Dominicana

Claro

wireless/wireline

100.0%

Ecuador

Claro

wireless/wireline

100.0%

El Salvador

Claro

wireless/wireline

95.8%

Caribbean

Guatemala

Claro

wireless/wireline

99.3%

Honduras

Claro

wireless/wireline

100.0%

USA

Nicaragua

Claro

wireless/wireline

99.6%

Panama

Claro

wireless/wireline

100.0%

Austria & CEE

Paraguay

Claro

wireless/wireline

100.0%

Peru

Claro

wireless/wireline

100.0%

Currency

Puerto Rico

Claro

wireless/wireline

100.0%

Uruguay

Claro

wireless/wireline

100.0%

Exchange Rates

USA

Tracfone

wireless

100.0%

Appendix

Netherlands

KPN

wireless/wireline

17.9%

Austria

Telekom Austria

wireless/wireline

51.0%

Glossary

CONTENT

page 3

Highlights

Relevant Events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

The reported figures for Argentina corresponding to the third quarter of 2020 are presented in accordance with a) IAS29 reflecting the effects of the adoption of inflationary accounting that became mandatory after the Argentinean economy was deemed to be hyperinflationary in the third quarter of 2018 and b) IAS21 translated to Mexican pesos using the end-of-period exchange rate.

All comparisons at constant exchange rates for America Movil's consolidated figures will exclude Argentina to ensure consistency.

Relevant Events

On September 14th, 2020 we announced that we entered into an agreement with Verizon Communications Inc. to sell our 100% interest in TracFone Wireless, Inc., the largest mobile virtual prepaid service operator in the United States, serving 21 million subscribers. The agreed purchase price payment at the closing is US$6,250 million, of which one-half will be in cash and the other in Verizon stock. In addi- tion, following the closing, Verizon shall pay to AMX: (i) up to US$500 million as an earn-out if Tracfone continues to achieve certain performance measures during the 24 months following the closing, calculated and paid in 4 consecutive 6-month periods, and (ii) US$150 million deferred commercial consideration payable within two years following the closing. AMX will continue to benefit from EBITDA generated by Tracfone during fiscal year 2020 and until the closing date of the transaction. The closing of the transaction is subject to customary conditions for this type of transactions, including obtaining required governmental approvals. Parties expect the closing to occur during 2021.

Agreement to sell Tracfone to Verizon

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

On September 3rd we terminated the agreement to purchase 99.3% of Telefónica Móviles El Salvador, S.A. de C.V. The decision comes after careful consideration by both parties of the conditions established by the Superintendencia de Compe- tencia for approval of the transaction.

On July 27th we informed that our Brazilian subsidiary, Claro S.A. ("Claro"), agreed to extend a binding offer submitted jointly with Telefónica Brasil S.A. and TIM S.A for the acquisition of the mobile business owned by Oi Group, in the amount of R$16,500 million. The offer was submitted by the parties, and is subject to certain conditions, including their right to make a higher bid than any other offer potentially presented by a third party ("right to top") in the competitive process of Oi Group's mobile business sale. Claro believes that the joint offer with TIM and Telefónica is the one that best serves the interests of current customers of Oi, as it provides long-term experience in the Brazilian market, investment capacity and technical innovation to the sector as a whole and it is in line with current regulation.

Resolution of the regulator in El Salvador

Binding offer for the acquisition of the mobile business owned by Oi

Appendix

Glossary

In August we established a Euro Commercial Paper Program in the amount of 2.0

Euro Commercial

billion euros under which we expect to issue regularly securities with maturities

Paper Program

of up to 360 days.

CONTENT

page 4

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Access Lines

As confinement measures began to be lifted throughout our region of operations towards the end of the second quarter, an improving trend became apparent on commercial activity.

We ended September with 281 million wireless subscribers, after net additions of 3.2 million. This figure comprises 1.8 million postpaid net gains and 1.4 million prepaid net gains. Our postpaid base was up 5.7% organically. Brazil led the way in terms of postpaid growth after adding 1.8 million subscribers followed by Austria with 241 thousand and Colombia with 142 thousand. The prepaid base ended the quarter with 186 million subscribers, after adding 1.2 million in Mexico, approximately 300 thousand in each of Colombia and Ecuador, and 237 thousand in Peru.

Postpaid base up 5.7% YoY

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

On the fixed-line segment we gained 446 thousand new broadband clients with

446k new

every operation posting an increase in accesses, except for Austria and Croatia.

broadband

However, in the PayTV segment we registered disconnections of 243 thousand in

accesses

the quarter and in fixed-line voice the number of lines came down by 242 thou-

sand.

We ended September with a total of 362 million access lines, which includes 281

362M access lines

million wireless subscribers and 81 million fixed-line RGUs.

Wireless Subscribers as of September 2020

Total(1)

(Thousands)

Country

Sep '20

Jun '20

Var.%

Sep '19

Var.%

Argentina, Paraguay and Uruguay

23,996

24,259

-1.1%

24,536

-2.2%

Austria & CEE

21,609

21,208

1.9%

21,520

0.4%

Brazil

60,005

58,520

2.5%

56,451

6.3%

Central America

14,533

14,541

-0.1%

15,290

-4.9%

Caribbean

6,237

6,087

2.5%

6,139

1.6%

Chile

6,505

6,793

-4.2%

6,779

-4.0%

Colombia

32,024

31,535

1.6%

30,577

4.7%

Ecuador

7,822

7,878

-0.7%

8,422

-7.1%

Mexico

76,563

75,378

1.6%

76,150

0.5%

Peru

10,552

10,387

1.6%

11,623

-9.2%

USA

20,876

20,918

-0.2%

21,229

-1.7%

Total Wireless Lines

280,722

277,503

1.2%

278,716

0.7%

  1. Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 5

Fixed-Line and Other Accesses (RGUs) as of September 2020

Total(1)

(Thousands)

Country

Sep '20

Jun '20

Var.%

Sep '19

Var.%

Argentina, Paraguay and Uruguay

1,385

1,278

8.4%

1,023

35.3%

Austria & CEE

6,066

6,105

-0.6%

6,135

-1.1%

Brazil

32,952

33,260

-0.9%

34,448

-4.3%

Central America

4,227

4,379

-3.5%

4,385

-3.6%

Caribbean

2,532

2,509

0.9%

2,537

-0.2%

Chile

1,391

1,401

-0.7%

1,418

-1.9%

Colombia

8,155

7,938

2.7%

7,555

7.9%

Ecuador

446

454

-1.8%

431

3.5%

Mexico

22,011

21,961

0.2%

22,158

-0.7%

Peru

1,787

1,707

4.7%

1,578

13.3%

Total RGUs

80,953

80,993

0.0%

81,669

-0.9%

  1. Fixed Line, Broadband and Television (Cable & DTH). Central America figures have been adjusted in accordance with the methodolgy used for all AMX operations.
Consolidated ARPU +5.0% YoY at constant Fx
Mobile and fixed service revenues expanded in Colombia
Fixed Bundles(1)
Fixed Voice
(1) Includes Fixed-Broadband, Pay-TVand Fixed Voice in double or triple play bundles.
Mobile Postpaid
Mobile Prepaid
3Q20 Service Revenues(1) Mobile service
30(%) 2+34revenues +3.5% YoY at constant Fx
Service revenues up 1.5% YoY at constant Fx

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 6

América Móvil Consolidated Results

Following the massive monetary and fiscal stimulus introduced throughout the world since the advent of the pandemic, the third quarter saw a rebound in economic activity in most countries in our region of operation and little of the volatility that was present in the prior two quarters. With the exception of the Brazilian real, which continued to deteriorate vs. the U.S. dollar, the main currencies in Latin America did not see much change over the period.

Our third quarter revenues rose 4.7% in Mexican peso terms from a year before to reach 260 billion pesos, as service revenues expanded 5.4%. At constant exchange rates service revenues were up 1.5%-roughly twice as fast as in the preceding quarter-on the back of continued strong performance of fixed-broadband revenues and the recovery of mobile prepaid revenues, those most affected in the prior quarter in the midst of the lockdown measures implemented throughout Latin America. The difference between the growth rate in peso terms and that at constant exchange rates has to do with the Mexican peso having depreciated against practically all other operating currencies except the Brazilian real and the Argentinean peso in the period: revenues in other currencies increased faster in peso terms.

Mobile service revenues accelerated to 3.5% from 2.3% in the second quarter buoyed by prepaid rev- enues-they rose to +2.5% from -2.0%-while fixed- line service revenues maintained a 1.4% pace of decline as the gains observed in fixed-broadbandrevenues-from a pace of +7.3% to one of +9.1%- were equaled by new revenue losses in fixed-line voice and PayTV revenues. The rhythm of decline of the latter, -9.2%, equaled the pace of growth of fixed-broadband revenues.

Colombia was the only country where service revenues expanded on both the mobile and the fixed-line platform in the third quarter-almost at the same pace in each one. The strongest growth on that platform was in those countries that have more

recently initiated their fixed-lineoperations-Peru,

Ecuador, Argentina, Costa Rica-while Dominicana, Brazil and Puerto Rico all had, together with Colombia, very strong showings on the mobile platform.

Across our operations, voice MOUs rose 11.7% while mobile data per user was up 41.2%, all of which resulted in a 5.0% increase in mobile ARPUs at constant exchange rates. Prepaid ARPUs shot up to an 8.0% year-on-year increase from 0% the preceding quarter while postpaid ARPUs decelerated sharply their rate of decline, from -6.4% in the second quarter to -1.4% in the third.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 7

EBITDA was up 10.1% in the third quarter from the year-earlier quarter to 86.5 bil-

EBITDA +7.2% YoY

lion pesos as the EBITDA margin remained at 33.2%. At constant exchange rates

at constant Fx

EBITDA increased 7.2%, more than twice as fast as it had in the preceding quarter,

with Puerto Rico, Mexico and Dominicana posting important advances. Puerto

Rico's EBITDA growth went from 10% to 38%; Mexico's improved from -10.3% to

+1.3% whereas Dominicana's increased from -5.5% to +5.8%.

América Móvil's Income Statement Millions of Mexican pesos

3Q20

3Q19

Var.%

Jan-Sep 20

Jan- Sep 19

Var.%

Service Revenues

216,113

205,038

5.4%

645,083

617,637

4.4%

Equipment Revenues

42,636

41,968

1.6%

112,814

122,003

-7.5%

Total Revenues*

260,172

248,475

4.7%

761,857

744,207

2.4%

Cost of Service

76,755

74,009

3.7%

229,528

223,091

2.9%

Cost of Equipment

43,779

42,451

3.1%

119,507

123,574

-3.3%

Selling, General & Administrative Expenses

52,088

52,166

-0.1%

162,796

161,648

0.7%

Others

1,091

1,341

-18.7%

3,289

3,939

-16.5%

Total Costs and Expenses

173,712

169,966

2.2%

515,120

512,252

0.6%

EBITDA

86,460

78,509

10.1%

246,737

231,955

6.4%

% of Total Revenues

33.2%

31.6%

32.4%

31.2%

Depreciation & Amortization

41,394

40,454

2.3%

121,811

121,409

0.3%

EBIT

45,066

38,055

18.4%

124,926

110,546

13.0%

% of Total Revenues

17.3%

15.3%

16.4%

14.9%

Net Interest Expense

8,298

8,406

-1.3%

26,650

26,330

1.2%

Other Financial Expenses

6,572

-2,951

322.7%

-15,181

2,547

n.m.

Foreign Exchange Loss

7,511

6,877

9.2%

101,610

-3,539

n.m.

Comprehensive Financing Cost (Income)

22,381

12,333

81.5%

113,079

25,338

346.3%

Income & Deferred Taxes

2,169

11,431

-81.0%

-1,696

35,716

-104.7%

Net Income before Minority

Interest and Equity Participation in Results

20,516

14,292

43.6%

13,542

49,491

-72.6%

of Affiliates

Equity Participation in Results of Affiliates

1

-7

107.5%

-283

7

n.m.

Minority Interest

-1,655

-1,242

-33.3%

-3,718

-2,541

-46.3%

Net Income

18,861

13,043

44.6%

9,540

46,957

-79.7%

*Total revenues include Other Revenues.

n.m. Not meaningful.

CONTENT

page 8

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Our operating profit shot up 18.4% to 45.1 billion pesos and was the driver of a 45% increase in our net income, which totaled 18.9 billion pesos.

In cash flow terms, our net debt came down by 47.0 billion pesos over the nine months to September. In addition, we devoted 15 billion pesos to cover our pension -related commitments. Notwithstanding the above, our net debt (after leases) ended September 48.8 billion pesos higher than in December, at 726 billion. The increase in the amount outstanding in peso terms is due solely to the impact of changes in foreign exchange rates on the non-peso debt, with the peso falling 12.4% vs. the U.S. dollar and 15.6% vs. the euro in relation to December 2019. At the end of the month our net debt to EBITDA ratio stood at 1.88 times under IAS17, slightly less than at the end of June.

Operating profit up 18% YoY

Net debt to EBITDA stood at 1.88x

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

Our capital expenditures totaled 91.0 billion pesos in the period and were direct- CapEx of MxP 91Bn ed to securing adequate capacity in our networks and maintaining good quality

of service.

Balance Sheet - América Móvil Consolidated Millions of Mexican Pesos

Sep '20

Dec '19

Var.%

Sep '20

Dec '19

Var.%

Current Assets

Current Liabilities

Cash, Marketable

Securities & Other Short

81,737

67,464

21.2%

Short Term Debt*

124,433

129,172

-3.7%

Term Ivestments

Accounts Receivable

232,187

211,532

9.8%

Lease-Related Debt

24,621

25,895

-4.9%

Other Current Assets

16,221

10,747

50.9%

Accounts Payable

247,853

268,484

-7.7%

Inventories

35,029

41,102

-14.8%

Other Current

100,315

101,849

-1.5%

Liabilities

365,173

330,844

10.4%

497,221

525,400

-5.4%

Non Current Assets

Non Current Liabilities

Plant & Equipment,

1,366,504

1,319,588

3.6%

Long Term Debt

566,730

495,082

14.5%

gross

-Depreciation

724,277

680,244

6.5%

Lease-Related Debt

92,102

94,702

-2.7%

Plant & Equipment, net

642,227

639,343

0.5%

Other Liabilities

199,476

189,843

5.1%

Rights of Use

110,880

118,003

-6.0%

858,308

779,627

10.1%

Investments in Affiliates

1,838

2,474

-25.7%

Deferred Assets

Goodwill (Net)

150,366

152,900

-1.7%

Intangible Assets

136,311

125,169

8.9%

Shareholder's Equity

228,840

226,907

0.9%

Deferred Assets

177,573

163,199

8.8%

Total Assets

1,584,369

1,531,934

3.4%

Total Liabilities

1,584,369

1,531,934

3.4%

and Equity

Includes current portion of Long Term Debt.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 9

Financial Debt of América Móvil* Millions

Sep -20

Dec -19

Peso - denominated debt (MxP)

66,511

80,129

Bonds

51,241

58,129

Banks and others

15,270

22,000

U.S. Dollar - denominated debt (USD)

10,263

9,472

Bonds

9,351

8,975

Banks and others

912

497

Euro - denominated Debt (EUR)

9,700

11,165

Bonds

8,100

10,942

Commercial Paper

1,600

123

Banks and others

0

100

Sterling - denominated Debt (GBP)

2,200

2,750

Bonds

2,200

2,750

Reais - denominated Debt (BRL)

9,975

7,475

Bonds

9,975

7,475

Banks and others

0

0

Debt denominated in other currencies(1) (MxP)

35,299

26,045

Bonds

6,858

5,818

Banks and others

28,441

20,227

Total Debt (MxP)

691,162

624,254

Cash, Marketable Securities and Short Term Financial

81,737

67,464

Investments (MxP)

Net Debt (MxP)

609,425

556,790

*This table does not include the effect of forwards and derivatives used to hedge our foreign exchange exposure. It includes financial debt of Telekom Austria.

(1)Includes Peruvian soles and Chilean pesos.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

page 10

Mexico

We added 1.2 million wireless subscribers in the second quarter-substantially

1.2M prepaid net

all of them prepaid clients- reverting most of the subscriber losses observed

adds

in the second quarter as confinement restrictions were relaxed and we resumed

more forcefully our commercial activity. Prepaid churn came down by nearly one

percentage point from the prior quarter. On the fixed-line platform we added 117

thousand broadband clients twice as many as in the second quarter, supported by

our alliances with OTT providers.

Mexico

Argentina

Brazil

Colombia

Our Mexican revenues totaled 73.2 billion pesos, up 0.4% from the year before, with service revenues declining slightly, -0.7%, an improvement on the -2.1% year- on-year reduction observed the prior quarter.

Mobile service revenues declined 0.6%, improving on their -2.5% pace of the second quarter. The recovery of Mexican mobile revenues was wholly driven by the bounce in prepaid revenues, which went from a -3.8% pace in the second quarter to +1.1% in the third.

Revenues of MxP 73Bn

Prepaid revenues up 1.1% YoY

Chile

Ecuador

Similarly, fixed-line service revenues came down 1.0% year-on-year in the third quarter, having fallen 1.4% the previous one. There were important advances both on fixed-broadbandservices-their expansion moved up from 1.8% in the second quarter to 6.0%-and in corporate networks, overcoming a 3.3% fall in the second quarter to a +2.2% increase in the third quarter. Losses in fixed-line voice revenues determined that revenues on that platform continued to decline.

Broadband revenues +6.0% YoY

Peru

Central America

EBITDA expanded 1.3% in the third quarter helped along by the improvement in revenues, recovering from a 10.3% year-on-year plunge in the second quarter. The EBITDA margin was slightly higher, 37.6%, on the relative normalization of commercial activities and associated expenses.

INCOME STATEMENT - Mexico Millions of MxP

EBITDA expanded 1.3% YoY

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

3Q20

3Q19(1)

Var.%

Jan-Sep 20

Jan-Sep 19(1)

Var.%

Total Revenues*

73,187

72,926

0.4%

209,253

213,473

-2.0%

Total Service Revenues

52,992

53,377

-0.7%

159,511

157,553

1.2%

Wireless Revenues

54,031

52,699

2.5%

150,522

151,936

-0.9%

Service Revenues

34,378

34,569

-0.6%

102,787

100,462

2.3%

Equipment Revenues

19,653

18,130

8.4%

47,734

51,474

-7.3%

Fixed Line Revenues

18,705

19,539

-4.3%

57,173

59,608

-4.1%

EBITDA

27,525

27,178

1.3%

79,717

79,219

0.6%

% total revenues

37.6%

37.3%

38.1%

37.1%

EBIT

19,819

18,431

7.5%

56,511

53,008

6.6%

%

27.1%

25.3%

27.0%

24.8%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

  1. 2019 reflects reclassifications of "other revenues".

CONTENT

page 11

Highlights

Mexico Operating Data

3Q20

3Q19

Var.%

Relevant events

Wireless Subscribers (thousands)

76,563

76,150

0.5%

Postpaid

14,485

14,107

2.7%

Prepaid

62,077

62,043

0.1%

Subscribers

MOU

561

530

5.7%

ARPU (MxP)

152

152

-0.6%

América Móvil

Churn (%)

3.3%

4.2%

(0.8)

Revenue Generating Units (RGUs) *

22,011

22,158

-0.7%

Consolidated

Fixed Lines

12,032

12,448

-3.3%

Mexico

Broadband

9,978

9,710

2.8%

* Fixed Line and Broadband.

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency

Exchange Rates

Appendix

Glossary

CONTENT

page 12

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Argentina

For comparison purposes all comments in this section related to annual variations of the presented period for Argentina refer to figures in constant peso terms, that is, adjusted for inflation in accordance to NIC 29. Information for Uruguay and Paraguay is not presented in the table.

Telecommunication services have been considered "essential services" by presidential decree beginning in August; as such, we have been forbidden to raise prices for our services for the remainder of 2020.

Third quarter revenues declined 9.6% in real terms (after inflation) from the year-earlier quarter with service revenues falling 9.4%. Mobile service revenues came down 12.0% as subscribers curtailed their usage or disconnected lines as disposable income contracted and unemployment rates increased on account of lockdown measures that were prolonged through September. The impact was more hardly felt on the postpaid segment where revenues declined 13.0%; prepaid revenues declined 7.7%. Fixed-line service revenues rose 13.9% from a small base driven by broadband revenue growth of 22.7% and PayTV revenues that increased 164.4%.

Forbidden to raise prices in 2020

Lockdown measures continued to affect revenues

Chile

Ecuador

Peru

Third quarter EBITDA was down 9.1% year-on-year and the EBITDA margin stayed roughly flat at 41.6%. Given the current conditions, we have made extraordinary efforts to contain costs and thrive in an inflationary environment. As a result of strict cost controls we were able to post a sequential increase in EBITDA of 8.6% in spite a 7.2% plunge in service revenues. The sequential increase in the EBITDA margin was 3.5 percentage points.

EBITDA down 9.1% YoY

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

INCOME STATEMENT - Argentina Millions of Constant ARS of September 2020

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Total Revenues*

27,630

30,578

-9.6%

84,192

92,778

-9.3%

Total Service Revenues

22,620

24,976

-9.4%

70,759

75,289

-6.0%

Wireless Revenues

24,664

28,091

-12.2%

75,648

85,448

-11.5%

Service Revenues

19,853

22,548

-12.0%

62,737

68,156

-8.0%

Equipment Revenues

4,810

5,542

-13.2%

12,912

17,293

-25.3%

Fixed Line Revenues

2,766

2,428

13.9%

8,022

7,134

12.5%

EBITDA

11,500

12,652

-9.1%

32,891

38,490

-14.5%

% total revenues

41.6%

41.4%

39.1%

41.5%

EBIT

8,803

9,886

-11.0%

25,370

31,080

-18.4%

%

31.9%

32.3%

30.1%

33.5%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 13

Argentina Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)(1)

21,295

21,885

-2.7%

Postpaid

8,394

8,418

-0.3%

Prepaid

12,901

13,467

-4.2%

MOU

94

77

21.0%

ARPU (ARP)

302

240

26.0%

Churn (%)

2.0%

1.8%

0.2

Revenue Generating Units (RGUs) *

1,067

695

53.6%

* Fixed Line, Broadband and Television.

(1)Hybrid subscribers are now included in our postpaid figures.

CONTENT

Highlights

Relevant events

Subscribers

page 14

Brazil

In the third quarter we added 1.8 million postpaid subscribers-one of our best

1.8M postpaid net

quarters in terms of net additions-and lost 321 thousand prepaid subscribers

adds

on the mobile platform. On the fixed-line one, we gained 62 thousand broad-

band accesses and lost 209 thousand PayTV clients and 162 thousand voice

lines.

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Third quarter revenues were up 1.1% from the year-earlier quarter to 9.8 billion reais, with service revenues roughly flat, 0.3%, as mobile service revenues rose 8.1% and fixed-line revenues came down 5.1%.

Mobile service revenues were buoyed by the strong recovery of prepaid reve- nues, from -1.0% in the second quarter to +5.1% in the third, and by continued strong performance of postpaid revenues, up 9.0% in the quarter.

Mobile ARPU rose 25.7% on the back of a 50% increase in consumption of data services per client and 19.8% in voice services (MOUs) which also increased sig- nificantly.

On the fixed-line platform broadband revenues continued growing along their trend line-at 9.9% they were expanding at the same pace as in the second quarter-but the down-trend on PayTV revenues accelerated to -13.6% from -11.7% the precedent quarter along with the reduction of PayTV accesses.

Mobile service revenues +8.1% YoY

Strong recovery of prepaid revenues

Mobile ARPU +26% YoY

Broadband revenues +10% YoY

Peru

Central America

EBITDA increased 6.1% year-on-year in the third quarter and nearly reached four billion reais, as the EBITDA margin topped 40% for the second consecutive quarter; it was up 1.9 percentage points higher than a year before.

INCOME STATEMENT - Brazil Proforma Millions of BrL

EBITDA margin at 40% of revenues

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Total Revenues*

9,790

9,681

1.1%

29,117

28,706

1.4%

Total Service Revenues

9,423

9,398

0.3%

28,277

27,852

1.5%

Wireless Revenues

4,467

4,062

10.0%

12,969

11,820

9.7%

Service Revenues

4,117

3,809

8.1%

12,168

11,021

10.4%

Equipment Revenues

350

253

38.4%

801

799

0.3%

Fixed Line Revenues

5,306

5,590

-5.1%

16,109

16,831

-4.3%

EBITDA

3,943

3,716

6.1%

11,469

10,614

8.1%

% total revenues

40.3%

38.4%

39.4%

37.0%

EBIT

1,554

1,496

3.9%

4,554

4,131

10.2%

%

15.9%

15.4%

15.6%

14.4%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 15

Brazil Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

60,005

56,451

6.3%

Postpaid

33,658

26,243

28.3%

Prepaid

26,348

30,207

-12.8%

MOU(1)

190

159

19.8%

ARPU (BrL)

24

19

25.7%

Churn (%)

4.7%

4.2%

0.5

Revenue Generating Units (RGUs) *

32,952

34,448

-4.3%

  • Fixed Line, Broadband and Television.
  1. We modified the methodology for calculating MOUs. We no longer include M2M subscribers.

CONTENT

page 16

Highlights

Relevant events

Subscribers

Colombia

Our wireless subscriber base topped 32 million clients at the end of September after net additions of 489 thousand in the quarter, the highest in at least a year. Postpaid net additions totaled 142 thousand and prepaid gains 347 thousand subscribers.

347k prepaid net adds

América Móvil Consolidated

Mexico

Argentina

There was a sharp acceleration in fixed-broadband accesses with net gains of 122 thousand clients, more than three times as many as in the year-earlier quar- ter. PayTV accesses were also on the rise, reaching 41 thousand.

Revenues totaled 3.4 trillion Colombian pesos, 3.0% more than a year before, with service revenues rising 9.2%, in line with the pace recorded prior to the pandemic. It was our only operation that presented revenue growth in both the mobile and the fixed-line platforms.

122k new broadband clients

Service revenues +9.2% YoY

Brazil

Colombia

Chile

Mobile service revenues were up 8.3% showing a marked recovery from the sec-

Mobile service

ond quarter in both prepaid and postpaid-the former went from 7.5% to 12.1%

revenues up 8.3%

whereas the latter moved up from 3.5% to 6.3%-as the lockdown measures

YoY

eased and the economy resumed its course. ARPU was up 3.6% compared to the

same period of the prior year with data usage per client rising 36%.

Ecuador

Peru

Fixed-line service revenues increased 10.6% year-on-year on the back of broadband revenues that expanded 16.1%, as the increase in demand for such services brought about by the lockdown measures continued to come through in the third quarter. PayTV, which is typically bundled with broadband services, showed similar trends, rising 10.3% in the period. On corporate networks, we also observed solid revenue growth, 12.3%.

Fixed-line service revenues +11% YoY

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

As revenues recovered, EBITDA rose 3.4% relative to the prior year to 1.5 trillion

EBITDA +3.4% YoY

Colombian pesos, with the margin, at 43.4%, slightly higher in spite of the great-

er commercial activity.

INCOME STATEMENT - Colombia Billions of COP

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Total Revenues*

3,368

3,269

3.0%

9,729

9,302

4.6%

Total Service Revenues

2,687

2,462

9.2%

7,833

7,219

8.5%

Wireless Revenues

2,300

2,293

0.3%

6,654

6,452

3.1%

Service Revenues

1,654

1,528

8.3%

4,828

4,488

7.6%

Equipment Revenues

646

766

-15.6%

1,826

1,964

-7.1%

Fixed Line Revenues

1,036

962

7.7%

3,016

2,794

8.0%

EBITDA

1,461

1,413

3.4%

4,173

4,051

3.0%

%

43.4%

43.2%

42.9%

43.5%

EBIT

841

838

0.3%

2,383

2,334

2.1%

%

25.0%

25.6%

24.5%

25.1%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 17

Colombia Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers* (thousands)

32,024

30,577

4.7%

Postpaid

7,564

7,249

4.3%

Prepaid

24,460

23,328

4.9%

MOU(1)

336

279

20.4%

ARPU (COP)

17,509

16,897

3.6%

Churn (%)

4.7%

4.6%

0.1

Revenue Generating Units (RGUs)**

8,155

7,555

7.9%

*Due to differences in the policy for accounting active subscribers, the figures in this report are different from those published by the Ministry of Communications of Colombia (MinTIC). **Fixed Line, Broadband and Television.

  1. We modified the methodology for calculating MOUs. We no longer include M2M subscribers.

CONTENT

Highlights

page 18

Chile

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Third quarter revenues of 192.7 billion Chilean pesos were down 6.6% on an annual basis with service revenues declining 7.2%-compared to 7.0% in the prior quarter-and equipment revenues declining 4.4%.

Mobile service revenues declined 9.0% in the third quarter. In the prepaid segment revenues were down 14.7%, which marked a sequential improvement from the 31.8% decline observed the prior quarter. But in postpaid, revenues dropped 8.3% exacerbating the contraction that began in the second quarter mostly as a result of the pandemic, in particular due to the poor performance of SMEs that had to materially reduce or cancel the services altogether. In spite of the tough conditions generated by the sanitary crisis, we continued to observe aggressive promotional activity in Chile.

Revenues down 6.6% YoY

Mobile service revenues -9.0% YoY

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

Fixed-line service revenues were down 4.9%, an improvement over the 9.4% re-

Broadband

duction observed the prior quarter with fixed-broadband revenues increasing

revenues +10% YoY

10.2%, slightly faster than in the second quarter. Even as mandatory lockdown

has been relaxed for the vast majority of the population, students are still home-

schooling and companies still have an important proportion of employees work-

ing from home which has accelerated the demand for broadband services.

EBITDA declined 13.5% year-on-year to 40.5 billion pesos on account of the re-

EBITDA down 14%

YoY

duction in revenues.

INCOME STATEMENT - Chile Millions of ChPL

3Q20

3Q19(1)

Var.%

Jan-Sep 20

Jan-Sep 19(1)

Var.%

Total Revenues*

192,679

206,234

-6.6%

574,382

623,953

-7.9%

Total Service Revenues

158,644

170,876

-7.2%

482,848

511,037

-5.5%

Wireless Revenues

119,422

129,460

-7.8%

357,133

393,118

-9.2%

Service Revenues

85,693

94,193

-9.0%

266,268

281,574

-5.4%

Equipment Revenues

33,729

35,268

-4.4%

90,865

111,544

-18.5%

Fixed Line Revenues

72,951

76,683

-4.9%

216,580

229,463

-5.6%

EBITDA

40,513

46,855

-13.5%

122,693

131,510

-6.7%

% total revenues

21.0%

22.7%

21.4%

21.1%

EBIT

-12,236

-37,415

67.3%

-38,739

-85,952

54.9%

%

-6.4%

-18.1%

-6.7%

-13.8%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

(1)2019 reflects restatements of fixed and mobile revenues.

Chile Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

6,505

6,779

-4.0%

Postpaid

2,282

2,242

1.8%

Prepaid

4,223

4,537

-6.9%

MOU

190

168

13.4%

ARPU (ChP)

4,777

5,161

-7.5%

Churn (%)

7.5%

6.0%

1.5

Revenue Generating Units (RGUs) *

1,391

1,418

-1.9%

* Fixed Line, Broadband and Television.

CONTENT

Highlights

page 19

Ecuador

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

In the third quarter we added 314 thousand prepaid subscribers but disconnected 370 thousand postpaid clients to finish September with 7.8 million wireless sub- scribers.

Our third quarter revenues were down 18.5% from the year-earlier quarter to 266 million dollars with service revenues declining 10.0% and equipment revenues plummeting 64.0% as commercial activity remained subdued. Service revenues on the mobile segment fell 12.1% compared to -18.9% in the second quarter as prepaid revenues recovered following the relaxation of lockdown measures: although still down 12.3% year-on-year, that was an improvement relative to the 27.5% observed in the second quarter. Postpaid revenues carried forward to the third quarter their 12% annual rate of decline.

Fixed-line service revenues, albeit at 10% still a small share of service revenues, were up 14.7% supported by broadband revenues that increased 23.3%.

We continued working on adjusting our cost structure and were able to lift our EBITDA margin by 6.2 percentage points relative to the year-earlier quarter to 49.8% of revenues. Nonetheless, at 133 million dollars our EBITDA was down 6.9%.

7.8M wireless subscribers

Prepaid revenues recovered following the relaxation of lockdown measures

EBITDA margin +6.2p.p. to 50% of revenues

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

INCOME STATEMENT - Ecuador Millions of Dollars

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Total Revenues*

266

327

-18.5%

815

987

-17.4%

Total Service Revenues

248

275

-10.0%

743

826

-10.0%

Wireless Revenues

239

304

-21.2%

736

917

-19.7%

Service Revenues

222

253

-12.1%

668

761

-12.2%

Equipment Revenues

17

51

-66.2%

68

156

-56.3%

Fixed Line Revenues

27

23

16.4%

79

69

15.5%

EBITDA

133

143

-6.9%

383

427

-10.2%

% total revenues

49.8%

43.6%

47.0%

43.2%

EBIT

78

86

-9.9%

217

256

-15.5%

%

29.2%

26.5%

26.6%

26.0%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

Ecuador Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

7,822

8,422

-7.1%

Postpaid

2,179

2,672

-18.5%

Prepaid

5,643

5,750

-1.9%

MOU

436

447

-2.5%

ARPU (US$)

10

10

-5.6%

Churn (%)

4.4%

4.3%

0.1

Revenue Generating Units (RGUs) *

446

431

3.5%

* Fixed Line, Broadband and Television.

CONTENT

Highlights

Relevant events

Subscribers

page 20

Peru

We obtained net additions of 237 thousand prepaid subscribers and disconnected

237k prepaid net

72 thousand postpaid clients in the third quarter. Fixed-line RGUs increased by 81

adds

thousand new units including 70 thousand broadband connections. RGUs were up

13.3% annually to 1.8 million.

América Móvil Consolidated

Mexico

Argentina

Brazil

Revenues declined 3.6% in the third quarter, compared to -17.7% in the prior one. The improvement came from equipment revenues that went from minus 76.4% in the second quarter to -23.1% in the current period.

Mobile service revenues remained flat as compared to last year with a very different trend in the segments: In prepaid, service revenue growth accelerated to 9.7% as a result of subscriber growth and ARPU improvement, whereas in postpaid revenues continued to decelerate, declining -3.9% from +1.6% in the second quarter. The economic conditions have forced some clients to move to prepaid, including the smaller businesses.

Improvement in equipment revenues

Prepaid revenues +9.7% YoY

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

Fixed-line service revenues increased 17.6%, up from 11.0% in the second quarter,

Fixed-line service

on the back of residential broadband services. We have seen broadband revenue

revenues +18% YoY

growth accelerate for six quarters in a row to 42.3% (32.9% growth in the prece-

dent quarter).

EBITDA was up 10.2% year-over-year to 435 million soles, with the EBITDA mar-

EBITDA up 10% YoY

gin, 34.5%, rising 4.3 percentage points from a year before. The improvement in

EBITDA is the result of cost control efforts, lower handset subsidies and fixed-line

service revenue growth.

INCOME STATEMENT - Peru Millions of Soles

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Total Revenues*

1,260

1,307

-3.6%

3,593

3,832

-6.2%

Total Service Revenues

976

940

3.8%

2,904

2,788

4.2%

Wireless Revenues

1,006

1,091

-7.7%

2,876

3,177

-9.5%

Service Revenues

729

730

-0.1%

2,201

2,161

1.8%

Equipment Revenues

277

361

-23.1%

676

1,016

-33.5%

Fixed Line Revenues

247

210

17.6%

704

627

12.2%

EBITDA

435

395

10.2%

1,226

1,101

11.4%

% total revenues

34.5%

30.2%

34.1%

28.7%

EBIT

167

129

29.6%

435

354

22.9%

%

13.2%

9.8%

12.1%

9.2%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 21

Peru Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

10,552

11,623

-9.2%

Postpaid

3,992

4,090

-2.4%

Prepaid

6,560

7,533

-12.9%

MOU

433

270

60.1%

ARPU (Sol)

23

21

11.5%

Churn (%)

3.6%

5.2%

(1.6)

Revenue Generating Units (RGUs) *

1,787

1,578

13.3%

* Fixed Line, Broadband and Television.

CONTENT

Highlights

page 22

Central America

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

In the third quarter we gained 89 thousand prepaid subscribers and disconnected 97 thousand postpaid subscribers. On the fixed-line segment we had disconnections of 152 thousand units in the quarter, most of them voice lines.

Disconnections of postpaid subscribers and fixed-line RGUs stemmed from the decision of subscribers to cancel their services after the measures imposed at the beginning of the sanitary crisis in most Central American markets that prohibited us to disconnect any line in absence of payment were lifted in the months of July and August. Subscribers were supposed to cover the balance due in installments.

This was reflected in total revenues that posted a 9.4% year-on-year decline, to 552 million dollars. Service revenues were down 5.4% and equipment revenues 36.4%. On the mobile platform service revenues declined 6.9% with postpaid revenues off 9.6% (from -3.8% the prior quarter) and prepaid revenues 4.4%. On the fixed-line segment service revenues were 2.6% lower than a year before with broadband being the only business line that saw revenue expansion, 5.8%, over the year.

97k prepaid disconnections

Service revenues down 5.4% YoY

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

EBITDA came in at 221 million dollars, 4.5% below that of the year-earlier quarter.

EBITDA margin

We managed to increase our EBITDA margin by 2.1 percentage points relative to

+2.1p.p. to 40% of

last year, to 40.1% of revenues, on the back of efficiency gains.

revenues

INCOME STATEMENT - Central America Proforma Millions of Dollars

3Q20

3Q19(1)

Var.%

Jan-Sep 20

Jan-Sep 19(1)

Var.%

Total Revenues*

552

609

-9.4%

1,668

1,825

-8.6%

Total Service Revenues

498

526

-5.4%

1,500

1,573

-4.6%

Wireless Revenues

365

414

-11.9%

1,103

1,240

-11.0%

Service Revenues

320

343

-6.9%

963

1,023

-5.9%

Equipment Revenues

45

71

-36.2%

141

217

-35.0%

Fixed Line Revenues

183

190

-4.0%

554

571

-3.0%

EBITDA

221

232

-4.5%

651

684

-4.9%

% total revenues

40.1%

38.0%

39.0%

37.5%

EBIT

55

89

-38.8%

195

252

-22.8%

%

9.9%

14.7%

11.7%

13.8%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

  1. 2019 figures were restated for IFRS 16.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 23

Central America Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

14,533

15,290

-4.9%

Postpaid

2,362

2,508

-5.8%

Prepaid

12,171

12,782

-4.8%

MOU(1)

194

166

17.1%

ARPU (US$)

8

8

-0.7%

Churn (%)

6.3%

6.8%

(0.5)

Revenue Generating Units (RGUs) *

4,227

4,385

-3.6%

  • Fixed Line, Broadband and Television. Figures have been adjusted in accordance with the methodolgy used for all AMX operations.
    (1) We modified the methodology for calculating MOUs. We no longer include M2M subscribers.

CONTENT

Highlights

Relevant events

Subscribers

page 24

Caribbean

Net additions in Dominicana were concentrated in the prepaid segment and

126k new wireless

reached 126 thousand subs-nearly 76% more than a year before. In Puerto

subs in Dominicana

Rico we gained 24 thousand new subscribers, including 13 thousand postpaids.

On the fixed-line segment net additions were driven by broadband accesses: 14

thousand in Dominicana and 5 thousand in Puerto Rico.

América Móvil Consolidated

Mexico

Argentina

Total revenues in Dominicana were up 1.4% showing an important sequential improvement coming from minus 6.0% in 2Q20. Service revenues rose 3.7% an- nually. Mobile service revenues rose 7.6%, compared to minus 2.0% in the prior quarter. The rebound was noteworthy in the prepaid segment where revenues expanded 11.4% compared to a 3.5% reduction the prior quarter. In the postpaid segment revenues were 3.4% greater than a year before (compared to -0.4% in the second quarter).

Mobile service revenues +7.6% YoY in Dominicana

Brazil

Colombia

Chile

Ecuador

EBITDA was up 5.8% with the margin climbing two percentage points from the year-earlier quarter to 48.5% on the back of operational efficiencies and the recovery of the revenue base.

Puerto Rico's revenue grew 10.9% year-on-year with service revenues expanding 2.8%. Growth is partly linked to federal and local government aid to students that helped boost equipment sales and a greater demand for fixed broadband and mobile WiFi services. This is reflected in a 13.8% increase in mobile postpaid service revenues-from 2.7% the second quarter.

EBITDA +5.8% YoY in Dominicana

Service revenues +2.8% YoY in Puerto Rico

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

EBITDA for the quarter was up 38.3% following revenue improvements and

EBITDA +38% YoY

greater equipment profits along with overall cost containment efforts; the EBIT-

in Puerto Rico

DA margin stood at 19.5% of revenues, 3.9 percentage points higher than a year

before.

INCOME STATEMENT - Caribbean Millions of Dollars

3Q20

3Q19(1)

Var.%

Jan-Sep 20

Jan-Sep 19(1)

Var.%

Total Revenues*

439

441

-0.6%

1,279

1,342

-4.7%

Total Service Revenues

377

391

-3.4%

1,127

1,192

-5.4%

Wireless Revenues

272

260

4.6%

777

790

-1.7%

Service Revenues

214

210

1.9%

631

640

-1.5%

Equipment Revenues

58

50

16.0%

146

150

-2.6%

Fixed Line Revenues

166

183

-9.1%

505

560

-9.9%

EBITDA

150

145

3.4%

423

440

-3.8%

% total revenues

34.1%

32.8%

33.1%

32.8%

EBIT

69

66

3.6%

178

198

-9.8%

%

15.6%

15.0%

13.9%

14.7%

*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

  1. 2019 reflects reclassifications of fixed and mobile service revenues.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 25

Caribbean Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

6,237

6,139

1.6%

Postpaid

2,024

1,994

1.5%

Prepaid

4,213

4,145

1.6%

MOU(1)

237

227

4.4%

ARPU (US$)

12

12

1.0%

Churn (%)

3.3%

3.4%

-0.2

Revenue Generating Units (RGUs) *

2,532

2,537

-0.2%

* Fixed Line, Broadband and Television.

  1. We modified the methodology for calculating MOUs. We no longer include M2M subscribers.

CONTENT

page 26

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

United States

We ended September with 20.9 million subscribers after net disconnections of 42 thousand in the third quarter.

Our revenues topped two billion dollars in the third quarter, up 0.7% year-on-year. Service revenues increased 3.5%, up from 1.2% in the second quarter and 0.1% in the first, as the prepaid segment we serve has become, under current economic conditions, more appealing to clients that seek flexibility and better control over their expenditures. ARPU rose 5.5% from the year-earlier quarter to 28 dollars.

Service revenues +3.5% YoY

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

EBITDA of 269 million dollars was 69.1% higher than a year before. This figure

EBITDA expanded

reflects certain reductions in the cost of airtime following negotiations reached

69% YoY on

with certain carriers in the second quarter, in absence of which EBITDA growth

account of certain

would have been 20.1% in the quarter. The EBITDA margin was equivalent to

agreements

13.2%, compared to 7.8% in 2019.

INCOME STATEMENT - United States Millions of Dollars

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Total Revenues

2,043

2,030

0.7%

6,116

6,020

1.6%

Service Revenues

1,764

1,704

3.5%

5,185

5,103

1.6%

Equipment Revenues

278

325

-14.4%

930

917

1.5%

EBITDA

269

159

69.1%

698

460

51.7%

% total revenues

13.2%

7.8%

11.4%

7.6%

EBIT

251

142

77.2%

643

405

58.9%

%

12.3%

7.0%

10.5%

6.7%

United States Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

20,876

21,229

-1.7%

Straight Talk

9,683

9,307

4.0%

SafeLink

2,017

2,448

-17.6%

Other Brands

9,176

9,474

-3.1%

MOU

657

591

11.1%

ARPU (US$)

28

27

5.5%

Churn (%)

3.5%

4.0%

(0.5)

CONTENT

Highlights

page 27

A1 Telekom Austria Group

Relevant events

Subscribers

América Móvil Consolidated

Mexico

We added 310 thousand postpaid wireless subscribers-241 thousand in Austria- and 91 thousand prepaids in the third quarter. On the fixed-line platform, the number of fixed broadband and PayTV accesses changed marginally.

On a consolidated basis, third quarter revenues decreased 0.9% to 1.1 billion eu- ros, with service revenues declining 2.1% due to roaming losses and negative foreign exchange effects arising form the devaluation of the Belarussian currency. At constant exchange rates service revenues increased 0.1%.

310k postpaid net adds

Service revenues remained stable

Argentina

Mobile service revenues declined 3.8% on a group level. In Austria, mobile service

Loss in roaming

revenues were down 0.5% and in our international operations they declined 6.5%.

revenues

The loss of roaming revenues was felt more strongly in Austria, Croatia and Slove-

nia whereas the currency effects were limited to Belarus.

Brazil

Colombia

Chile

Ecuador

Peru

On the fixed-line segment revenues were flat year-on-year with Austria falling 1.6% driven by lower interconnection revenues as international traffic volumes decreased sharply. Our international operations saw fixed-line service revenues rising 2.3%.

Adjusted EBITDA (before restructuring charges) increased 0.5% to 463 million eu- ros; after restructuring charges EBITDA was up 0.6%. In Austria EBITDA rose 4.7% before restructuring charges while in our international operations it was up 3.3% (adjusted by foreign exchange and one-offs) on the back of strong performances in Belarus, Bulgaria and Slovenia.

Fixed-line service revenues +2.3% YoY in international operations

EBITDA before restructuring charges +0.5% YoY

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

INCOME STATEMENT (In accordance with IFRS 16) - A1 Telekom Austria Group

Millions of Euros

3Q20

3Q19

Var.%

Jan-Sep 20

Jan- Sep 19

Var.%

Total Revenues

1,142

1,153

-0.9%

3,364

3,365

0.0%

Total service revenues

954

975

-2.1%

2,843

2,843

0.0%

Wireless service revenues

524

545

-3.8%

1,554

1,555

0.0%

Fixed-line service revenues

430

430

0.0%

1,289

1,288

0.1%

Equipment revenues

169

158

7.2%

464

451

2.8%

Other operating income

19

20

-5.0%

57

71

-19.8%

EBITDA

442

439

0.6%

1,212

1,205

0.6%

% total revenues

38.7%

38.1%

36.0%

35.8%

Adjusted EBITDA(1)

463

460

0.5%

1,274

1,268

0.5%

% total revenues

40.5%

39.9%

37.9%

37.7%

EBIT

211

202

4.3%

510

497

2.6%

% total revenues

18.4%

17.5%

15.2%

14.8%

For further detail please visit www.a1.group/en/investor-relations

  1. Does not include restructuring charges in Austria.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 28

A1 Telekom Austria Group Operating Data

3Q20

3Q19

Var.%

Wireless Subscribers (thousands)

21,609

21,512

0.5%

Postpaid

17,505

16,814

4.1%

Prepaid

4,104

4,698

-12.6%

MOU(1)

410

358

14.5%

ARPU (Euros)

8

8

-4.1%

Churn (%)

1.2%

1.6%

(0.4)

Revenue Generating Units (RGUs) *

6,066

6,139

-1.2%

*Fixed Line, Broadband and Television. (1) We modified the methodology for calculating MOUs. We no longer include M2M subscribers.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 29

Exchange Rates Local Currency Units per MxP

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Euro

End of Period

0.0380

0.0467

-18.7%

0.0380

0.0467

-18.7%

Average

0.0387

0.0463

-16.5%

0.0409

0.0462

-11.6%

U.S.

End of Period

0.0445

0.0509

-12.6%

0.0445

0.0509

-12.6%

Average

0.0452

0.0515

-12.2%

0.0459

0.0519

-11.5%

Brazilean Real

End of Period

0.2512

0.2121

18.4%

0.2512

0.2121

18.4%

Average

0.2430

0.2044

18.9%

0.2328

0.2019

15.3%

Argentinean Peso

End of Period

3.3922

2.9328

15.7%

3.3922

2.9328

15.7%

Average

3.3139

2.5976

27.6%

3.1002

2.3091

34.3%

Chilean Peso

End of Period

35.0955

37.0849

-5.4%

35.0955

37.0849

-5.4%

Average

35.2908

36.3210

-2.8%

36.8441

35.5985

3.5%

Colombian Peso

End of Period

172.7251

176.3066

-2.0%

172.7251

176.3066

-2.0%

Average

168.6392

171.8567

-1.9%

170.1113

168.2032

1.1%

Guatemalan Quetzal

End of Period

0.3467

0.3939

-12.0%

0.3467

0.3939

-12.0%

Average

0.3491

0.3956

-11.8%

0.3537

0.3995

-11.5%

Peruvian Sol

End of Period

0.1603

0.1724

-7.0%

0.1603

0.1724

-7.0%

Average

0.1604

0.1722

-6.8%

0.1590

0.1729

-8.1%

Dominican Republic Peso

End of Period

2.6049

2.6894

-3.1%

2.6049

2.6894

-3.1%

Average

2.6463

2.6775

-1.2%

2.6000

2.6543

-2.0%

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 30

Exchange Rates Local Currency Units per USD

3Q20

3Q19

Var.%

Jan-Sep 20

Jan-Sep 19

Var.%

Euro

End of Period

0.8532

0.9175

-7.0%

0.8532

0.9175

-7.0%

Average

0.8554

0.8998

-4.9%

0.8895

0.8901

-0.1%

Mexican Peso

End of Period

22.4573

19.6363

14.4%

22.4573

19.6363

14.4%

Average

22.1111

19.4227

13.8%

21.7673

19.2546

13.0%

Brazilean Real

End of Period

5.6407

4.1644

35.5%

5.6407

4.1644

35.5%

Average

5.3732

3.9694

35.4%

5.0667

3.8868

30.4%

Argentinean Peso

End of Period

76.1800

57.5900

32.3%

76.1800

57.5900

32.3%

Average

73.2740

50.4516

45.2%

67.4826

44.4612

51.8%

Chilean Peso

End of Period

788.1500

728.2100

8.2%

788.1500

728.2100

8.2%

Average

780.3197

705.4527

10.6%

801.9951

685.4349

17.0%

Colombian Peso

End of Period

3,878.9400

3,462.0100

12.0%

3,878.9400

3,462.0100

12.0%

Average

3,728.8049

3,337.9230

11.7%

3,702.8610

3,238.6848

14.3%

Guatemalan Quetzal

End of Period

7.7860

7.7355

0.7%

7.7860

7.7355

0.7%

Average

7.7195

7.6842

0.5%

7.6992

7.6919

0.1%

Peruvian Sol

End of Period

3.5990

3.3850

6.3%

3.5990

3.3850

6.3%

Average

3.5469

3.3439

6.1%

3.4606

3.3300

3.9%

Dominican Republic Peso

End of Period

58.5000

52.8100

10.8%

58.5000

52.8100

10.8%

Average

58.5137

52.0039

12.5%

56.5950

51.1082

10.7%

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 31

Glossary of Terms

ARPU

Average Revenue per User. The ratio of service revenues in a given period to

the average number of wireless subscribers in the same period. It is present-

ed on a monthly basis.

ARPM

Average Revenue per Minute. The ratio of service revenues to airtime traffic.

Capex

Capital Expenditure. Accrued capital expenditures related to the expansion

of the telecommunications infrastructure.

Churn

Disconnection Rate. The ratio of wireless subscribers disconnected during a

given period to the number of wireless subscribers at the beginning of that

period.

EBIT

Earnings Before Interest and Taxes, also known as Operating Profit.

EBIT

margin

The ratio of EBIT to total operating revenue.

EBITDA

Earnings Before Interest, Taxes, Depreciation, and Amortization.

EBITDA

margin

The ratio of EBITDA to total operating revenue.

EPS

(Mexican

pesos)

Earnings per share. Total earnings in Mexican pesos divided by total shares.

Earnings

per ADR

(US$)

Total earnings in U.S. dollars divided by total ADRs equivalent.

Gross

additions

Total number of subscribers acquired during the period.

Licensed

pops

Licensed population. Population covered by the licenses that each of the

companies manage.

LTE

Long-term evolution is a 4th generation standard for wireless communica-

tion of high-speed data for mobile phones and data terminals.

Market

share

A company's subscriber base divided by the total number of subscribers in

that country.

MBOU

Megabytes of Use per subscriber. The ratio of wireless data in a given period

to the average number of wireless subscribers in that same period. It is pre-

sented on a monthly basis.

MOU

Minutes of Use per subscriber. The ratio of wireless traffic in a given period

to the average number of wireless subscribers in that same period. It is pre-

sented on a monthly basis.

Net

subscriber

additions

The difference in the subscriber base from one period to another. It is the

different between gross additions and disconnections.

CONTENT

Highlights

Relevant events

Subscribers

América Móvil Consolidated

Mexico

Argentina

Brazil

Colombia

Chile

Ecuador

Peru

Central America

Caribbean

USA

Austria & CEE

Currency Exchange Rates

Appendix

Glossary

page 32

Net debt Total short and long term debt minus cash and marketable securities.

Net debt

  • EBITDA The ratio of total short and long term debt minus cash and securities to trail- ing 12-month income before interest, taxes, depreciation and amortization.

Prepaid Subscriber that may purchase airtime to recharge a cellular phone. The client does not hold a contract with the company for voice and data services.

Postpaid Subscriber that has a contract for the use of airtime. The client has no need of activating airtime, it is done so immediately.

SMS

Short Message Service.

SAC Subscriber Acquisition Cost. The sum of handset subsidies, marketing expenses and commissions to distributors for handset activation. Handset subsidy is calculated as the difference between equipment cost and equipment revenues.

Wireless

penetration The ratio of total wireless subscribers in any given country divided by the total population in that country.

For further information please visit our website at: www.americamovil.com

América Móvil, S.A.B. de C.V. (the "Company") quarterly reports and all other written materials may from time to time contain forward-looking statements that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements, and may contain words like "believe", "anticipate", "expect", "envisages", "will likely result", or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this report. In no event, neither the Company nor any of its subsidiaries, affiliates, directors, officers, agents or employees shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this document or for any consequential, special or similar damages.

Disclaimer

América Móvil SAB de CV published this content on 20 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2020 21:39:04 UTC


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Sales 2020 1 022 B 51 309 M 51 309 M
Net income 2020 34 207 M 1 717 M 1 717 M
Net Debt 2020 646 B 32 418 M 32 418 M
P/E ratio 2020 31,9x
Yield 2020 2,04%
Capitalization 996 B 49 660 M 49 974 M
EV / Sales 2020 1,61x
EV / Sales 2021 1,59x
Nbr of Employees 187 383
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 17,91 MXN
Last Close Price 14,87 MXN
Spread / Highest target 41,2%
Spread / Average Target 20,5%
Spread / Lowest Target 0,87%
EPS Revisions
Managers
NameTitle
Daniel Hajj Aboumrad Chief Executive Officer & Executive Director
Carlos Slim Domit Chairman
Carlos José García Moreno Elizondo Chief Financial Officer
Luis Alejandro Soberón Kuri Director
David Antonio Ibarra Muñoz Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMÉRICA MÓVIL, S.A.B. DE C.V.-1.52%49 660
AT&T INC.-25.56%207 268
T-MOBILE US69.78%165 252
SOFTBANK GROUP CORP.52.54%129 029
CHINA MOBILE LIMITED-28.47%123 750
NTT DOCOMO, INC.27.45%119 574