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    AMX L   MXP001691213

AMÉRICA MÓVIL, S.A.B. DE C.V.

(AMX L)
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America Móvil B de C : Movil forecasts $8 billion capex for 2021

02/10/2021 | 12:54pm EDT

MEXICO CITY, Feb 10 (Reuters) - Mexican telecoms company America Movil expects to spend $8 billion in capital expenditures in 2021, company executives said on Wednesday.

The planned investment will include the purchase of 5G frequencies, Chief Financial Officer Carlos Garcia Moreno told analysts on a conference call following the company's fourth-quarter earnings.

"For this year, we are around $8 billion, including what we are going to buy on frequencies for 5G," Garcia Moreno said.

Officials from America Movil, controlled by the family of Mexican billionaire Carlos Slim, said there could be 5G options available in Mexico, its core market, before the end of the year after an additional purchase of 50 megahertz (MHz) in 2020.

"We are in the process of reviewing the rules for those frequencies ... What Daniel is telling me is that from October 2021, there are going to be options on 5G in Mexico," Garcia Moreno said, referring to Chief Executive Officer Daniel Hajj.

America Movil's shares rose more than 3% early on Wednesday after the company on Tuesday reported a surprise quarterly profit, which was nearly 80% higher than a year ago, helped by a favorable exchange rate. The shares later trimmed gains. The company's sales dipped 3.1% from the same quarter a year ago.

Executives also said that 35,000 to 37,000 telecommunications towers in its Latin American and Caribbean markets would be included in a spinoff entity it announced a day earlier.

The new unit will focus on the development, construction and locations of the towers for mobile services, the company said. (Reporting by Cassandra Garrison and Abraham Gonzalez in Mexico City Editing by Matthew Lewis)


© Reuters 2021
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Financials
Sales 2021 984 B 48 995 M 48 995 M
Net income 2021 87 239 M 4 345 M 4 345 M
Net Debt 2021 551 B 27 429 M 27 429 M
P/E ratio 2021 12,6x
Yield 2021 3,11%
Capitalization 959 B 47 545 M 47 740 M
EV / Sales 2021 1,53x
EV / Sales 2022 1,51x
Nbr of Employees 184 100
Free-Float 48,7%
Chart AMÉRICA MÓVIL, S.A.B. DE C.V.
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América Móvil, S.A.B. de C.V. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMÉRICA MÓVIL, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 17,88 MXN
Last Close Price 14,45 MXN
Spread / Highest target 52,2%
Spread / Average Target 23,8%
Spread / Lowest Target 8,65%
EPS Revisions
Managers and Directors
NameTitle
Daniel Hajj Aboumrad Chief Executive Officer & Director
Carlos José García Moreno Elizondo Chief Financial Officer
Carlos Slim Domit Chairman
David Antonio Ibarra Muñoz Independent Director
Pablo Roberto González Guajardo Independent Director
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