CONTENT
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
Argentina
Carlos García-Moreno
Chief Financial Officer carlos.garciamoreno@amovil.com
Daniela Lecuona Torras
Investor Relations Office daniela.lecuona@americamovil.com
América Móvil's first quarter of 2020 financial and operating report
Mexico City, April 28th, 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 first quarter of 2020.
- First quarter figures in this report show limited impact so far from the pan- demic. Our consolidated results were strong, with all our main operations performing well. However, after contingency measures were enforced in all countries, most of them aroundmid-March, operational trends began to change. There is no clarity as to its duration and magnitude overall or its im- pact in the countries where we operate.
1Q20
1Q figures show limited impact from COVID-19
Brazil
Colombia
Chile
• | In América Móvil we have been fully committed to ensuring the continuity of | AMX will continue |
our top-quality services, prioritizing the health and well-being of our clients | to deliver top- | |
and employees and adapting our processes and commercial plans to accom- | ||
quality services | ||
modate the needs of our subscribers. We will continue to work together with | ||
our various stakeholders to this end. | ||
• | We ended March with 283 million wireless subscribers after incorporating 3.5 | 1.4M postpaid net |
million subs from the acquisition of Nextel. Organically, we gained 1.4 million | adds | |
mobile postpaid subscribers in the first quarter, including 874 thousand in | ||
Brazil and 215 thousand in Mexico. Our postpaid base increased 7.8% year- | ||
on-year, while prepaid was down 2.6%. |
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
- Fixed-broadbandis still the main driver on the fixed-line platform; we con- nected 432 thousand new accesses, including 107 thousand in Brazil and 105 thousand in Mexico.
- Revenues of 250 billion pesos were up 1.8% in Mexican peso terms. At con- stant exchange rates, service revenues expanded5.0%-the fastest pace in over a year.
- Mobile postpaid andfixed-broadband were the main drivers of revenue growth, increasing 13.6% and 7.8%. Prepaid service revenue expanded 3.9%, with Mexico, Colombia and Dominicana seeing 13% increases. Mobile ARPU rose in most countries from the year-earlier quarter driven by data services.
- EBITDA came in at 77.6 billion pesos in the quarter and was up 2.9% in Mexi- can peso terms and 8.3% at constant exchange rates, with EBITDA rising fast- er in Mexico, 11.9%; Brazil, 7.5%; and Colombia, 8.2%.
- Our operating profit came in at 39.0 billion pesos, having increased 9.9% from theyear-earlier-quarter. However, after financing costs of 79.6 billion pesos-driven by foreign exchange losses stemming from the devaluation of the Mexican peso and other latam currencies vis-a-vis the U.S. dollar and the euro-we posted a net loss of 29.4 billion pesos in the quarter.
- Our net debt ended March at 817 billion pesos. Under IAS17 our net debt to EBITDA ratio stood at 1.87x. In cash flow terms it was up 24.6 billion pesosyear-to-date-mostly on account of seasonal effects on working capital- helping us fund our capital expenditures.
We will host our conference call to discuss 1Q20 financial and operating results on April 29that 9:00am
432k new broadband clients
1Q Revenues +1.8% YoY
Postpaid & broadband main drivers of revenue growth
EBITDA +8.3% YoY at constant Fx
Operating profit +10% YoY
Net debt to EBITDA at 1.87x
Mexico City time. To access the call please log on to www.americamovil.com/investors
CONTENT | page 2 | |||||
Highlights | ||||||
América Móvil Fundamentals | ||||||
Relevant events | 1Q20 | 1Q19 | ||||
Earnings per Share (Mex$) (1) | -0.45 | 0.30 | ||||
Subscribers | Earning per ADR (US$) (2) | -0.45 | 0.31 | |||
EBITDA per Share (Mex$) (3) | 1.18 | 1.14 | ||||
América Móvil | EBITDA per ADR (US$) | 1.19 | 1.19 | |||
Net Income (millions of Mex$) | -29,381 | 19,553 | ||||
Consolidated | ||||||
Average Shares Outstanding (billion) | 66.00 | 66.03 | ||||
Mexico | ||||||
(1) Net Income / Average Shares Outstanding | ||||||
(2) 20 shares per ADR | ||||||
(3) EBITDA / Average Shares Outstanding | ||||||
Argentina | ||||||
América Móvil's Subsidiaries as of March 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 | 16.1% | ||
Austria | Telekom Austria | wireless/wireline | 51.0% | |||
Glossary | ||||||
CONTENT
page 3
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
The reported figures for Argentina corresponding to the first 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 April 24, 2020 we announced that our shareholders approved the payment of an ordinary dividend of MXP$0.38 per share, payable in cash; series "L" shares of AMX; or a combination thereof, according to the election of each shareholder. The dividend will be payable in two installments of MXP$0.19 each, on July 20 and November 9, 2020 and they also approved to allocate an amount equal to MXP$6,000'000,000 as its buyback program for the April 2020 - April 2021 period, such amount includes the balance of the buyback program fund as that date.
América Móvil on COVID-19
The unprecedented health crisis arising from the spread of the Coronavirus will result in a severe global economic downturn that will impact substantially most countries according to the forecasts of various international banks and multilateral institutions. There is no clarity as to its duration and magnitude overall or its impact in the countries where we operate. The financial resilience of our company and its vast and critical infrastructure after a long period of large investment are important assets in these times.
It has become increasingly evident that telecommunication services are critical for companies, families and individuals alike. In América Móvil we have been fully committed to ensuring the continuity of our top-quality services, prioritizing the health and well-being of our clients and employees. We have adapted our processes and commercial plans to accommodate the needs of our subscribers and we have actively supported all government measures related to our industry.
First quarter figures in this report show limited impact so far from the pandemic. Rather the opposite: our consolidated results were strong, with all our main operations performing well. América Móvil entered this COVID-19 crisis with a solid balance sheet after a long period of deleveraging and remains committed to maintaining a low leverage ratio. We have drawn our committed credit facilities to ensure that we can continue to service our debt and preserve optimal liquidity for the foreseeable future. As for our cash flow and profitability we aim to protect them by adjusting our spending-opex, capex and working capital-as need be.
Dividend payment of MxP 0.38¢
CONTENT
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
Argentina
Brazil
page 4
Access Lines
We ended March with 283 million wireless subscribers after incorporating 3.5 | Postpaid base |
million subs from the acquisition of Nextel in Brazil. Organically, our subscriber | +7.8% YoY |
base was up 0.6% after net additions that were just shy of one million. This figure | |
comprises 1.4 million postpaid net gains and 442 thousand prepaid disconnec- | |
tions. Our postpaid base was up 7.8% organically and 12.0% after the integration | |
of Nextel, reaching 94 million subs. Brazil led the way in terms of postpaid growth | |
after adding 874 thousand subs followed by Mexico with 215 thousand. The pre- | |
paid base ended the quarter with 189 million subs, 2.6% below last year. | |
After adding 78 thousand RGUs in the quarter we finished with 81.4 million RGUs | 432k new |
in the fixed-line segment. We connected 432 new broadband accesses including | broadband |
107 thousand in Brazil and 105 thousand in Mexico. In the PayTV segment we | accesses |
registered disconnections of 141 thousand in the quarter, and in fixed voice the | |
number of lines came down by 213 thousand. |
Colombia
Chile
Ecuador
Peru
General trends across our operations show a deceleration of net additions in March when compared to the first two months of the year that relates to the sanitary crisis and the lock-down in several countries in which our stores and customer service centers have been partially open. On the fixed-line platform, broadband was the exception in several countries including Mexico, Brazil and Colombia where new connections were higher in March given the advent of the restrictions on mobility and the increasing need to remain connected at home.
Higher broadband connections due to restrictions in mobility
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
Wireless Subscribers as of March 2020
Total(1) | (Thousands) | ||||
Country | Mar '20 | Dic '19 | Var.% | Mar '19 | Var.% |
Argentina, Paraguay and Uruguay | 24,667 | 24,634 | 0.1% | 24,370 | 1.2% |
Austria & CEE | 21,306 | 21,296 | 0.0% | 20,941 | 1.7% |
Brazil | 58,671 | 54,488 | 7.7% | 56,383 | 4.1% |
Central America | 15,469 | 15,488 | -0.1% | 15,841 | -2.3% |
Caribbean | 6,312 | 6,244 | 1.1% | 5,980 | 5.6% |
Chile | 6,966 | 6,873 | 1.4% | 6,720 | 3.7% |
Colombia | 31,244 | 31,104 | 0.4% | 29,887 | 4.5% |
Ecuador | 8,465 | 8,493 | -0.3% | 8,308 | 1.9% |
Mexico | 77,212 | 76,918 | 0.4% | 75,611 | 2.1% |
Peru | 11,543 | 11,611 | -0.6% | 11,818 | -2.3% |
USA | 20,704 | 20,876 | -0.8% | 21,599 | -4.1% |
Total Wireless Lines | 282,559 | 278,027 | 1.6% | 277,458 | 1.8% |
- 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 March 2020
Total(1) | (Thousands) | ||||
Country | Mar '20 | Dic '19 | Var.% | Mar '19 | Var.% |
Argentina, Paraguay and Uruguay | 1,210 | 1,114 | 8.6% | 833 | 45.4% |
Austria & CEE | 6,131 | 6,143 | -0.2% | 6,182 | -0.8% |
Brazil | 33,808 | 34,048 | -0.7% | 34,993 | -3.4% |
Central America | 4,408 | 4,409 | 0.0% | 4,393 | 0.3% |
Caribbean | 2,516 | 2,528 | -0.5% | 2,545 | -1.1% |
Chile | 1,398 | 1,400 | -0.2% | 1,441 | -3.0% |
Colombia | 7,760 | 7,613 | 1.9% | 7,320 | 6.0% |
Ecuador | 458 | 446 | 2.8% | 397 | 15.5% |
Mexico | 22,039 | 21,992 | 0.2% | 22,350 | -1.4% |
Peru | 1,646 | 1,603 | 2.7% | 1,498 | 9.9% |
Total RGUs | 81,375 | 81,297 | 0.1% | 81,951 | -0.7% |
- Fixed Line, Broadband and Television (Cable & DTH). Central America figures have been adjusted in accordance with the methodolgy used for all AMX operations.
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
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 totaled 77.6 billion pesos and our operating profit 39.0 billion pesos, in- | EBITDA +8.3% YoY | ||
creasing 2.9% and 9.9% in Mexican peso terms respectively. At constant exchange | at constant Fx | ||
rates EBITDA rose 8.3% rising more rapidly in Mexico, 11.9%. In Brazil and Co- | |||
lombia EBITDA was up 7.5% and 8.2% whereas it fell in Puerto Rico, Panama and | |||
Nicaragua. | |||
América Móvil's Income Statement Millions of Mexican pesos | |||
1Q20 | 1Q19 | Var.% | |
Service Revenues | 209,513 | 206,454 | 1.5% |
Equipment Revenues | 39,480 | 37,852 | 4.3% |
Total Revenues* | 250,102 | 245,656 | 1.8% |
Cost of Service | 75,475 | 74,833 | 0.9% |
Cost of Equipment | 40,388 | 39,186 | 3.1% |
Selling, General & Administrative Expenses | 55,566 | 54,784 | 1.4% |
Others | 1,045 | 1,418 | -26.3% |
Total Costs and Expenses | 172,474 | 170,220 | 1.3% |
EBITDA | 77,627 | 75,436 | 2.9% |
% of Total Revenues | 31.0% | 30.7% | |
Depreciation & Amortization | 38,677 | 39,984 | -3.3% |
EBIT | 38,950 | 35,452 | 9.9% |
% of Total Revenues | 15.6% | 14.4% | |
Net Interest Expense | 9,380 | 8,721 | 7.5% |
Other Financial Expenses | -23,092 | 674 | n.m. |
Foreign Exchange Loss | 93,303 | -8,249 | n.m. |
Comprehensive Financing Cost (Income) | 79,591 | 1,146 | n.m. |
Income & Deferred Taxes | -12,036 | 14,005 | -185.9% |
Net Income before Minority | |||
Interest and Equity Participation in Results | -28,604 | 20,301 | -240.9% |
of Affiliates | |||
Equity Participation in Results of Affiliates | 3 | 16 | -83.9% |
Minority Interest | -779 | -765 | -1.9% |
Net Income | -29,381 | 19,553 | -250.3% |
*Total revenues include Other Revenues. | |||
n.m. Not meaningful. |
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 8
Comprehensive financing costs totaled 79.6 billion pesos resulting from 93 billion | CFC of MxP 80Bn |
pesos in foreign exchange losses stemming mostly from the depreciation of the | |
Mexican peso vis-a-vis the U.S. dollar and the euro. They gave rise to a 29.4 billion | |
pesos net loss in the quarter. Most of our debt has been raised in internation- | |
al markets in hard currencies; since the company is based in Mexico the debt is | |
therefore subject to foreign exchange variations. However, the exposure arising | |
from this funding is managed through the use of financial derivatives and had | |
been significantly reduced over the last several months to better conform to the | |
currency mix of our revenue base and equity investments. | |
Our net debt ended March at 817 billion pesos; in cash flow terms it was up 24.6 | Net debt to EBITDA |
billion pesos year-to-date, helping us fund our capital expenditures, 26.8 billion | stood at 1.87x |
pesos. Our net debt to EBITDA (LTM) stood at 1.87 times under IAS17 at the end | |
of March. |
Balance Sheet - América Móvil Consolidated Millions of Mexican Pesos
Mar '20 | Dec '19 | Var.% | Mar '20 | Dec '19 | Var.% | ||
Current Assets | Current Liabilities | ||||||
Cash, Marketable | |||||||
Securities & Other Short | 155,702 | 67,464 | 130.8% | Short Term Debt* | 140,721 | 129,172 | 8.9% |
Term Ivestments | |||||||
Accounts Receivable | 271,589 | 211,532 | 28.4% | Lease-Related Debt | 25,993 | 25,895 | 0.4% |
Other Current Assets | 21,224 | 10,747 | 97.5% | Accounts Payable | 262,035 | 268,484 | -2.4% |
Inventories | 39,270 | 41,102 | -4.5% | Other Current | 105,350 | 101,849 | 3.4% |
Liabilities | |||||||
487,786 | 330,844 | 47.4% | 534,098 | 525,400 | 1.7% | ||
Non Current Assets | Non Current Liabilities | ||||||
Plant & Equipment, | 1,422,775 | 1,319,588 | 7.8% | Long Term Debt | 702,807 | 495,082 | 42.0% |
gross | |||||||
-Depreciation | 741,149 | 680,244 | 9.0% | Lease-Related Debt | 103,653 | 94,702 | 9.5% |
Plant & Equipment, net | 681,626 | 639,343 | 6.6% | Other Liabilities | 204,983 | 189,843 | 8.0% |
Rights of Use | 124,996 | 118,003 | 5.9% | 1,011,442 | 779,627 | 29.7% | |
Investments in Affiliates | 2,460 | 2,474 | -0.6% | ||||
Deferred Assets | |||||||
Goodwill (Net) | 154,355 | 152,900 | 1.0% | ||||
Intangible Assets | 140,283 | 125,169 | 12.1% | Shareholder's Equity | 232,373 | 226,907 | 2.4% |
Deferred Assets | 186,408 | 163,199 | 14.2% | ||||
Total Assets | 1,777,914 | 1,531,934 | 16.1% | Total Liabilities | 1,777,914 | 1,531,934 | 16.1% |
and Equity | |||||||
CONTENT | page 9 | |||
Highlights | ||||
Financial Debt of América Móvil* Millions | ||||
Relevant events | ||||
Mar -20 | Dec -19 | |||
Peso - denominated debt (MxP) | 73,204 | 80,129 | ||
Subscribers | Bonds and other securities | 51,204 | 58,129 | |
Banks and others | 22,000 | 22,000 | ||
U.S. Dollar - denominated debt (USD) | 11,638 | 9,472 | ||
América Móvil | ||||
Bonds and other securities | 8,351 | 8,975 | ||
Consolidated | ||||
Banks and others | 3,287 | 497 | ||
Euro - denominated Debt (EUR) | 12,850 | 11,165 | ||
Mexico | Bonds and other securities | 10,887 | 11,065 | |
Banks and others | 1,963 | 100 | ||
Argentina | Sterling - denominated Debt (GBP) | 2,750 | 2,750 | |
Bonds and other securities | 2,750 | 2,750 | ||
Reais - denominated Debt (BRL) | 9,975 | 7,475 | ||
Brazil | Bonds and other securities | 9,975 | 7,475 | |
Banks and others | 0 | 0 | ||
Debt denominated in other currencies (MxP) | 37,997 | 26,045 | ||
Colombia | Bonds and other securities | 6,788 | 5,818 | |
Banks and others | 31,209 | 20,227 | ||
Chile | Total Debt (MxP) | 843,527 | 624,254 | |
Cash, Marketable Securities and Short Term Financial | 155,702 | 67,464 | ||
Investments (MxP) | ||||
Ecuador | Net Debt (MxP) | 687,825 | 556,790 | |
*This table does not include the effect of forwards and derivatives used to hedge our foreign exchange exposure.
Peru
Central America
Caribbean
USA
Austria & CEE
Currency
Exchange Rates
Appendix
Glossary
CONTENT
page 10
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
We ended March with 77.2 million subs after adding 215 thousand mobile post- paid subscribers and 80 thousand prepaid clients in the quarter. Mobile net additions were lower at the end of March as Mexico began to enforce social distancing and other restrictive measures to prevent contagion of Covid-19 on March 19th. On the fixed-line platform we gained 105 thousand broadband clients in the first quarter-a 1.1% sequential increase in our fixed-broadband access lines- and disconnected 58 thousand voice lines.
215k postpaid net adds
Mexico
Argentina
Brazil
Colombia
Chile
Our revenues were up 8.8% year-on-year to 73.2 billion pesos with service revenues expanding 6.7%, their best performance in at least five quarters, led by mobile service revenues that jumped 10.4%, also the most rapid pace in over a year. Mobile prepaid revenues expanded 13.3% and mobile postpaid revenues 6.8%; in both cases it was the fastest rate, on the back of greater consumption of mobile data services.
At 0.5%, fixed-line service revenues were slightly higher in the quarter compared to a year before as the reductions in voice revenues were more than offset by a 4.6% increase in fixed-broadbandrevenues-the greatest increase posted in over a year. International long-distance revenues also rose, reflecting the depreciation of the Mexican peso vs. the U.S. dollar.
Mobile service revenues posted the strongest growth rate in over a year
Broadband revenues +4.6% YoY
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
EBITDA rose nearly 12% from the year-earlier quarter, reaching 27.8 billion pesos. At 37.9%, our EBITDA margin was up 1.0 percentage points in the period.
We have leveraged the investments we have made over the last years in new technologies that have enhanced the capacity and reach of our platforms that have enabled us to handled important traffic increases with no detriment to quality or speed.
We have promoted the use of our digital platforms to address the needs of our cli- ents: from online customer care to digital sales of airtime. In this unprecedented crisis we must remain very close to our clients in order to have enough flexibility to adapt to their needs.
To further support our clients during the emergency period, we have given away more than 27 million airtime and SMS bundles for mobile subscribers and in the fixed side we are offering a $100 peso plan with 2Mbps for Internet access. Ad- ditionally, we have opened all sites related to health and several related to edu- cation.
EBITDA +12% YoY
Quality network to support traffic increases
Promoted the use of digital platforms
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 11
INCOME STATEMENT -MexicoMillions of MxP
1Q20 | 1Q19(1) | Var.% | |
Total Revenues* | 73,182 | 67,241 | 8.8% |
Total Service Revenues | 54,599 | 51,160 | 6.7% |
Wireless Revenues | 53,395 | 46,966 | 13.7% |
Service Revenues | 35,555 | 32,213 | 10.4% |
Equipment Revenues | 17,840 | 14,753 | 20.9% |
Fixed Line Revenues | 19,310 | 19,806 | -2.5% |
EBITDA | 27,771 | 24,818 | 11.9% |
% total revenues | 37.9% | 36.9% | |
EBIT | 20,038 | 16,140 | 24.1% |
% | 27.4% | 24.0% |
*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.
- 1Q19 reflects reclassifications of "other revenues".
Mexico Operating Data
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands) | 77,212 | 75,611 | 2.1% |
Postpaid | 14,564 | 13,714 | 6.2% |
Prepaid | 62,648 | 61,897 | 1.2% |
MOU | 528 | 522 | 1.2% |
ARPU (MxP) | 154 | 143 | 7.8% |
Churn (%) | 3.9% | 4.1% | (0.2) |
Revenue Generating Units (RGUs) * | 22,039 | 22,350 | -1.4% |
Fixed Lines | 12,241 | 12,666 | -3.4% |
Broadband | 9,798 | 9,684 | 1.2% |
* Fixed Line and Broadband.
CONTENT
page 12
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
Argentina
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.
Argentina has remained under lockdown since March 19th. Our stores and customers service centers have remained closed since then. We had nearly 12 thousand postpaid net additions in the quarter, but nearly ten thousand disconnections in prepaid. We have been promoting the use of digital platforms and have seen good adoption by postpaids and for prepaid airtime recharges. Prepaid adds and handset sales, however, have been very limited.
Adoption of digital platforms
Brazil
Colombia
Revenues topped 25 billion Argentinean pesos in the first quarter, 7.5% less than | Service revenues |
the prior year with service revenues down 4.9% and equipment revenues con- | down -4.9% |
tracting 18%. On the mobile segment, service revenues declined 6.5%. As a result | |
of heavy promotions in the contract segment, revenues came down 6.9% annual- | |
ly, and on prepaid, they declined 4.5%. |
Chile
Ecuador
Peru
Central America
First quarter EBITDA of 9.4 billion Argentinean pesos was down 15.0% year-on- year as a result of revenue declines and of a greater provision for bad debt booked after the contingency began. The EBITDA margin stood at 37.6% of revenues.
In Uruguay, measures effected by the government following COVID-19 have been milder and lockdown is recommended but not mandatory. In Paraguay, citizens are to remain at home with limited mobility but we have been able to keep our customer service centers and some stores open.
EBITDA margin at 38% of revenues
Mild measures by government in Paraguay & Uruguay
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
INCOME STATEMENT -ArgentinaMillions of Constant ARS of March 2020
1Q20 | 1Q19 | Var.% | |
Total Revenues* | 25,008 | 27,033 | -7.5% |
Total Service Revenues | 20,682 | 21,752 | -4.9% |
Wireless Revenues | 22,746 | 24,949 | -8.8% |
Service Revenues | 18,465 | 19,739 | -6.5% |
Equipment Revenues | 4,281 | 5,210 | -17.8% |
Fixed Line Revenues | 2,217 | 2,013 | 10.1% |
EBITDA | 9,391 | 11,054 | -15.0% |
% total revenues | 37.6% | 40.9% | |
EBIT | 7,327 | 9,007 | -18.7% |
% | 29.3% | 33.3% |
*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
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands)(1) | 21,896 | 21,828 | 0.3% |
Postpaid | 8,460 | 8,387 | 0.9% |
Prepaid | 13,436 | 13,441 | 0.0% |
MOU | 75 | 75 | -0.5% |
ARPU (ARP) | 279 | 198 | 40.5% |
Churn (%) | 1.7% | 1.8% | (0.1) |
Revenue Generating Units (RGUs) * | 875 | 521 | 68.0% |
* Fixed Line, Broadband and Television.
(1)Hybrid subscribers are now included in our postpaid figures.
CONTENT
Highlights
page 14
Brazil
Relevant events
Subscribers
América Móvil Consolidated
After incorporating Nextel Brazil with 3.5 million subscribers and adding organically an additional 874 thousand postpaid clients in the first quarter, we ended March with 58.7 million subscribers. On the fixed-line platform we connected 107 thousand new broadband accesses in the period. At the end of the month we had 9.7 million broadband accesses, up 2.2% year-on-year, and a total of 33.8 million RGUs.
3.5M new subs from Nextel Brazil
Mexico
Argentina
Brazil
Organically, revenues rose 2.9% to 9.2 billion reais with service revenues rising 3.2%. On the mobile segment, service revenues rose 15.4%-almost as much as in the prior quarter-with postpaid revenues that shot up 19.2% relative to the prior year and prepaid revenues that grew 5.3%, up from 2.4% in the prior quar- ter. With the acquisition of Nextel we booked additional revenues of 593 million reais with which mobile service revenues topped four billion reais, an increase of 35% vis-à-vis our 1Q19 revenues.
Organic mobile service revenues up 15% YoY
Colombia
Chile
On the fixed-line platform, service revenues declined 3.4% as the growth in | Broadband |
broadband revenues, 10.6%, was not enough to compensate for the decline | revenues up 11% |
in voice, PayTV and corporate networks revenues. We have successfully been | YoY |
cross-selling our fixed and mobile products to our clients, and our Combo Multi | |
has proven to be a very convenient solution. |
Ecuador
Peru
Central America
Caribbean
At 3.5 billion reais, and as a result of solid revenue growth and good cost con- trols, our organic EBITDA for the quarter was 6.4% higher than that of the year-earlier quarter. The EBITDA margin stood at 38.3%, having climbed 1.3 percentage points over the last twelve-months. With our recent acquisition, EBITDA increased to 3.7 billion reais-an additional 189 million reais-and the margin was equivalent to 37.9% of revenues.
Organic EBITDA +6.4% YoY
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
INCOME STATEMENT - Brazil ProformaMillions of BrL
1Q20 | 1Q19 | Var.% | |
Total Revenues* | 9,791 | 9,485 | 3.2% |
Total Service Revenues | 9,522 | 9,198 | 3.5% |
Wireless Revenues | 4,341 | 3,840 | 13.1% |
Service Revenues | 4,082 | 3,566 | 14.5% |
Equipment Revenues | 259 | 274 | -5.3% |
Fixed Line Revenues | 5,440 | 5,632 | -3.4% |
EBITDA | 3,709 | 3,450 | 7.5% |
% total revenues | 37.9% | 36.4% | |
EBIT | 1,429 | 1,312 | 9.0% |
% | 14.6% | 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.
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
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands) | 58,671 | 56,383 | 4.1% |
Postpaid | 31,847 | 24,479 | 30.1% |
Prepaid | 26,825 | 31,904 | -15.9% |
MOU(1) | 157 | 138 | 13.9% |
ARPU (BrL) | 24 | 18 | 33.0% |
Churn (%) | 4.0% | 3.8% | 0.2 |
Revenue Generating Units (RGUs) * | 33,808 | 34,993 | -3.4% |
- Fixed Line, Broadband and Television.
- We modified the methodology for calculating MOUs. We no longer include M2M subscribers.
CONTENT
page 16
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Colombia
We added 140 thousand subscribers in the quarter, including 33 thousand post- paid subs. January and February showed solid figures and in March, they came down reflecting the impact of the reduced mobility after the initial lockdown measures were implemented. On the fixed-line platform we connected 147 thousand new RGUs: 70 thousand broadband accesses, 45 thousand voice lines and 31 thousand PayTV units.
33k postpaid net adds; 70k new broadband accesses
Mexico
Argentina
Brazil
Total revenues, 3.2 trillion Colombian Pesos, were up 10.2% year-on-year, as service revenue growth continued to accelerate to 9.6%, with fixed and mobile service revenues growing almost at the same pace.
Mobile service revenues of 1.6 trillion Colombian pesos were up 9.6% year-on- year from 8.5% in the prior quarter with prepaid revenue growth accelerating to 13.5% and postpaid revenues expanding 7.7%. In both cases, it was the fastest pace observed in over a year.
Service revenues +9.6% YoY
Postpaid revenues +7.7% YoY
Colombia
Chile
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
Fixed-line service revenues increased 9.5% up from 8.6% in the fourth quarter. | Broadband |
Broadband revenues, the most important component of fixed-line service rev- | revenues up 11% |
enues, were up 11.2% annually while corporate network services, our fastest | YoY |
growing business line, rose 19.5%. PayTV revenues increased 8.9%. The latter | |
two also had their best showing in more than a year. | |
First quarter EBITDA of 1.4 trillion Colombian pesos was up 8.2% over the prior | EBITDA +8.2% YoY |
year; it was equivalent to 43.0% of revenues. |
INCOME STATEMENT - ColombiaBillions of COP
1Q20 | 1Q19 | Var.% | |
Total Revenues* | 3,230 | 2,931 | 10.2% |
Total Service Revenues | 2,590 | 2,363 | 9.6% |
Wireless Revenues | 2,239 | 2,004 | 11.7% |
Service Revenues | 1,619 | 1,477 | 9.6% |
Equipment Revenues | 620 | 527 | 17.7% |
Fixed Line Revenues | 975 | 903 | 8.0% |
EBITDA | 1,390 | 1,284 | 8.2% |
% | 43.0% | 43.8% | |
EBIT | 814 | 720 | 13.1% |
% | 25.2% | 24.6% |
*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
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers* (thousands) | 31,244 | 29,887 | 4.5% |
Postpaid | 7,384 | 6,997 | 5.5% |
Prepaid | 23,860 | 22,890 | 4.2% |
MOU(1) | 294 | 236 | 25.0% |
ARPU (COP) | 17,353 | 17,291 | 0.4% |
Churn (%) | 4.2% | 4.8% | (0.6) |
Revenue Generating Units (RGUs)** | 7,760 | 7,320 | 6.0% |
*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.
- We modified the methodology for calculating MOUs. We no longer include M2M subscribers.
CONTENT
page 18
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
Chile
Chile took preemptive measures at an early stage of the world pandemic by limiting mobility in certain municipalities in the second week of March and gradually extending the restrictions to larger areas through the remainder of the month.
Chile is one of the countries with the highest penetration of bank and other financial services. Since digital channels for sales and payments are widely used, the impact on demand for telecom services has been limited in spite of mobility having become more restricted.
Limited mobility in the country
High penetration of financial services
Argentina
Brazil
Mobile net additions totaled 94 thousand in the first quarter; in fact, the figure for March was nearly 50% greater than the average of the first two months, and in the prepaid segment, net adds were almost two times higher in March. In the fixed- line segment we experienced similar trends: broadband net additions totaled three thousand in the quarter, but more than six thousand in March. In PayTV we had nine thousand disconnections in the first quarter.
94k mobile net adds
Colombia
Chile
Ecuador
First quarter revenues of 199 billion Chilean pesos came down 3.0% with service revenues falling 2.4%. The latter figure compares with -4.1% in Q4 and -5.0% in Q3. Although mobile service revenues declined 2.3% given the secular downtrend in prepaid revenues, postpaid revenues actually increased 3.8% annually, up from 2.7% in the prior quarter. On the fixed-line platform service revenues declined 2.5% compared to -4.4% in the precedent quarter.
Postpaid revenues +3.8% YoY
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
EBITDA for the period was practically flat relative to the year-earlier quarter in | EBITDA margin at |
spite of the revenue decline. The EBITDA margin for the period stood at 21.6% of | 22% of revenues, |
revenues, 70 basis points higher than in the prior year. | +0.7p.p. |
INCOME STATEMENT - ChileMillions of ChPL
1Q20 | 1Q19(1) | Var.% | |
Total Revenues* | 199,349 | 205,548 | -3.0% |
Total Service Revenues | 165,753 | 169,849 | -2.4% |
Wireless Revenues | 125,334 | 128,916 | -2.8% |
Service Revenues | 92,038 | 94,228 | -2.3% |
Equipment Revenues | 33,296 | 34,688 | -4.0% |
Fixed Line Revenues | 73,715 | 75,621 | -2.5% |
EBITDA | 42,993 | 42,942 | 0.1% |
% total revenues | 21.6% | 20.9% | |
EBIT | -8,058 | -14,540 | 44.6% |
% | -4.0% | -7.1% |
*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.
(1)1Q19 reflects restatements of fixed and mobile 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 19
Chile Operating Data
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands) | 6,966 | 6,720 | 3.7% |
Postpaid | 2,286 | 2,127 | 7.5% |
Prepaid | 4,681 | 4,593 | 1.9% |
MOU | 160 | 170 | -5.8% |
ARPU (ChP) | 4,950 | 5,074 | -2.5% |
Churn (%) | 6.5% | 6.0% | 0.5 |
Revenue Generating Units (RGUs) * | 1,398 | 1,441 | -3.0% |
* Fixed Line, Broadband and Television. |
CONTENT
Highlights
page 20
Ecuador
Relevant events
Subscribers
América Móvil Consolidated
The impact on Covid-19 was strongly felt in the second half of March as Ecuador was one of the countries with some of the most restrictive measures amongst our Latam operations. The country has been on mandatory lock-down since March 17th and our stores and customer service centers have remained closed since that date. Therefore the impact was initially felt in mobile net additions; we registered 28 thousand net disconnections for the quarter.
Restrictive measures by government
Mexico
Argentina
Brazil
Subsequently, we saw a deterioration in service revenues. We had seen mobile service revenues contracting over the past quarters as the economy was undergoing a downturn, but now collections have come down since the contingency period began. First quarter revenues of 307 million were down 5.9% over the year with service revenues declining 3.9%. On the mobile segment, service revenues fell 5.5% with prepaid revenues falling almost twice as rapidly. On the fixed-line platform, albeit a small base, service revenues increased 14.5% on the back of broadband and corporate networks.
Service revenues down -3.9% YoY
Colombia
Chile
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
As revenues declined, EBITDA contracted 6.4% and the margin came in at 42.1% | EBITDA margin of | ||
of revenues. | 42% | ||
INCOME STATEMENT - EcuadorMillions of Dollars | |||
1Q20 | 1Q19 | Var.% | |
Total Revenues* | 307 | 326 | -5.9% |
Total Service Revenues | 262 | 273 | -3.9% |
Wireless Revenues | 281 | 303 | -7.3% |
Service Revenues | 237 | 251 | -5.5% |
Equipment Revenues | 44 | 52 | -16.0% |
Fixed Line Revenues | 26 | 23 | 14.0% |
EBITDA | 129 | 138 | -6.4% |
% total revenues | 42.1% | 42.4% | |
EBIT | 74 | 81 | -9.0% |
% | 23.9% | 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.
Ecuador Operating Data
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands) | 8,465 | 8,308 | 1.9% |
Postpaid | 2,660 | 2,640 | 0.7% |
Prepaid | 5,805 | 5,668 | 2.4% |
MOU | 413 | 427 | -3.3% |
ARPU (US$) | 9 | 10 | -8.0% |
Churn (%) | 4.0% | 4.2% | (0.3) |
Revenue Generating Units (RGUs) * | 458 | 397 | 15.5% |
* Fixed Line, Broadband and Television.
CONTENT
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
page 21
Peru
Peru was amongst the first countries, in our Latam footprint, to adopt contingency | Mandatory lock- |
measures. The actions taken to mitigate contagion include mandatory lock-down | down in the country |
beginning March 16th. Sales of new mobile lines and fixed accesses have been | |
suspended. | |
First quarter revenues rose 2.4% to 1.3 billion soles, as service revenues increased | Service revenues |
4.9% and equipment revenues decreased 1.3% year-on-year on account of the | +4.9% YoY |
limitation to activate new lines. Mobile service revenues increased 4.0% with pre- | |
paid revenues falling 3.6% and postpaid rising 7.0%. |
Argentina
Brazil
On the fixed-line platform, service revenues were 8.0% higher than a year before on account of broadband revenues that jumped 26%. Whereas January and February showed solid operating trends, the latter figures also reflect revenues booked based on invoices issued in March which are not currently being paid by our clients and payment for which will not be required for some time. We are increasing our bad debt provision accordingly.
Broadband revenues expanded 26% YoY
Colombia
Chile
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
EBITDA of 400 million soles was up 13.5% on an annual basis. The EBITDA margin | EBITDA +14% YoY | ||
for the period stood at 30.9%, three percentage points above that of the prece- | |||
dent year. | |||
INCOME STATEMENT - PeruMillions of Soles | |||
1Q20 | 1Q19 | Var.% | |
Total Revenues* | 1,294 | 1,264 | 2.4% |
Total Service Revenues | 972 | 926 | 4.9% |
Wireless Revenues | 1,064 | 1,040 | 2.4% |
Service Revenues | 744 | 715 | 4.0% |
Equipment Revenues | 320 | 324 | -1.3% |
Fixed Line Revenues | 227 | 211 | 7.9% |
EBITDA | 400 | 352 | 13.5% |
% total revenues | 30.9% | 27.9% | |
EBIT | 140 | 119 | 17.8% |
% | 10.8% | 9.4% |
*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.
Peru Operating Data
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands) | 11,543 | 11,818 | -2.3% |
Postpaid | 4,234 | 4,069 | 4.1% |
Prepaid | 7,309 | 7,749 | -5.7% |
MOU | 290 | 252 | 14.9% |
ARPU (Sol) | 21 | 20 | 7.2% |
Churn (%) | 4.5% | 6.3% | (1.9) |
Revenue Generating Units (RGUs) * | 1,646 | 1,498 | 9.9% |
* Fixed Line, Broadband and Television.
CONTENT
page 22
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
Argentina
Brazil
Colombia
Central America
We have had very different schemes as related to the Covid-19 pandemic in the countries that make up the Central American block.
Altogether, we generated revenues of 583 million dollars that declined 4.5% from the year-earlier quarter on a proforma basis, with service revenues down 1.9% and equipment revenues falling 18.8%. Mobile service revenues were 2.1% lower than a year before. Towards the end of March, we began to experience a greater reduction in prepaid revenues given the social distancing and curfew measures in some countries, but postpaid revenues were slightly higher than a year before.
On the fixed-line segment, service revenues were 1.7% lower year-on-year, mostly on the back of voice revenue declines.
EBITDA of 219 million dollars declined 3.1% relative to the prior year but the margin rose 50 basis points to 37.5%. In Guatemala, EBITDA rose as we start to benefit from the synergies of the integration of Telefonica's former operation in that country.
INCOME STATEMENT -Central America Proforma Millions of Dollars
Service revenues down 1.9% YoY
EBITDA margin at 38% of revenues, +0.5p.p.
Chile
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
1Q20 | 1Q19(1) | Var.% | |
Total Revenues* | 583 | 610 | -4.5% |
Total Service Revenues | 514 | 524 | -1.9% |
Wireless Revenues | 392 | 413 | -4.9% |
Service Revenues | 333 | 340 | -2.1% |
Equipment Revenues | 60 | 73 | -18.2% |
Fixed Line Revenues | 187 | 192 | -2.6% |
EBITDA | 219 | 226 | -3.1% |
% total revenues | 37.5% | 37.0% | |
EBIT | 78 | 88 | -11.4% |
% | 13.3% | 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.
- 1Q19 figures were restated for IFRS 16.
Central America Operating Data
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands) | 15,469 | 15,841 | -2.3% |
Postpaid | 2,548 | 2,513 | 1.4% |
Prepaid | 12,921 | 13,328 | -3.1% |
MOU(1) | 166 | 158 | 4.7% |
ARPU (US$) | 7 | 7 | 1.7% |
Churn (%) | 6.1% | 5.6% | 0.5 |
Revenue Generating Units (RGUs) * | 4,408 | 4,393 | 0.3% |
-
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
page 23
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
Caribbean
In the Dominican Republic we ended march with 5.4 million wireless subscrib- ers.
Total revenues increased 4.8% with service revenues rising 5.7% over the year. Mobile postpaid had the greatest annual increase in at least five quarters, while prepaid service revenues rose 12.5%. On the fixed-line platform, service revenues remained flat from a year before. EBITDA for the quarter, 5.9 billion Do- minican pesos, was 5.3% higher than a year before with the margin increasing slightly to 46.1% of revenues.
EBITDA +5.3% YoY
in the Dominican
Republic
Argentina
Brazil
Colombia
Chile
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
In Puerto Rico all of our stores and customer service centers have remained | Service revenues | ||
closed since March 16th. Revenues declined 4.9% as compared to the prior year | down 5.3% YoY in | ||
with service revenues down 5.3%, dragged down by declining fixed-line and | Puerto Rico | ||
mobile revenues, down -9.4% and -1.4%, respectively. First quarter EBITDA, 32 | |||
million dollars, fell 14.4% year-on-year. The EBITDA margin stood at 15.9% of | |||
revenues. | |||
INCOME STATEMENT - CaribbeanMillions of Dollars | |||
1Q20 | 1Q19(1) | Var.% | |
Total Revenues* | 435 | 450 | -3.2% |
Total Service Revenues | 388 | 399 | -2.8% |
Wireless Revenues | 264 | 265 | -0.5% |
Service Revenues | 217 | 214 | 1.4% |
Equipment Revenues | 47 | 51 | -8.5% |
Fixed Line Revenues | 174 | 188 | -7.8% |
EBITDA | 141 | 147 | -4.5% |
% total revenues | 32.3% | 32.8% | |
EBIT | 59 | 71 | -17.1% |
% | 13.6% | 15.8% |
*Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.
- 1Q19 reflects reclassifications of fixed and mobile service revenues.
Caribbean Operating Data
1Q20 | 1Q19 | Var.% | |
Wireless Subscribers (thousands) | 6,312 | 5,980 | 5.6% |
Postpaid | 2,046 | 1,951 | 4.9% |
Prepaid | 4,266 | 4,029 | 5.9% |
MOU(1) | 219 | 238 | -8.0% |
ARPU (US$) | 12 | 12 | -4.2% |
Churn (%) | 3.3% | 3.5% | -0.2 |
Revenue Generating Units (RGUs) * | 2,516 | 2,545 | -1.1% |
* Fixed Line, Broadband and Television.
- We modified the methodology for calculating MOUs. We no longer include M2M subscribers.
CONTENT
Highlights
page 24
United States
Relevant events
Subscribers
América Móvil Consolidated
We disconnected 50 thousand clients in the first quarter- excluding Safelink-to finish March with 20.7 million wireless subscribers. Our high ARPU brands showed solid growth in the period with some registering greater net gains as the month progressed in March. As economic uncertainty increased alongside the impact of the Coronavirus, several clients appeared to be looking for more flexible plans, as there are in prepaid.
Solid growth on high ARPU brands
Mexico
Argentina
Brazil
Colombia
Chile
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
Notwithstanding the incipient but severe economic contraction, service revenues ARPU +4.0% YoYfor the period were flat on an annual basis at 1.7 billion dollars with ARPU rising
4.0% to 27 dollars. EBITDA was down 5.8% to 116 million dollars on account of higher subsidies that resulted from aggressive competition. The EBITDA margin stood at 5.9%, slightly below that of the year-earlier quarter.
INCOME STATEMENT - United StatesMillions of Dollars
1Q20 | 1Q19 | Var.% | ||
Total Revenues | 1,986 | 1,992 | -0.3% | |
Service Revenues | 1,692 | 1,690 | 0.1% | |
Equipment Revenues | 294 | 302 | -2.6% | |
EBITDA | 116 | 123 | -5.8% | |
% total revenues | 5.9% | 6.2% | ||
EBIT | 98 | 105 | -6.1% | |
% | 4.9% | 5.3% | ||
United States Operating Data | ||||
1Q20 | 1Q19 | Var.% | ||
Wireless Subscribers (thousands) | 20,704 | 21,599 | -4.1% | |
Straight Talk | 9,473 | 9,359 | 1.2% | |
SafeLink | 2,051 | 2,660 | -22.9% | |
Other Brands | 9,180 | 9,581 | -4.2% | |
MOU | 625 | 553 | 13.0% | |
ARPU (US$) | 27 | 26 | 4.0% | |
Churn (%) | 3.7% | 3.7% | 0.0 |
CONTENT
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
Argentina
Brazil
page 25
A1 Telekom Austria Group
Covid-19 started to affect Telekom Austria's business towards the end of the first quarter and thus had only a limited impact on its financial results. Most governments imposed restrictive contingency measures that limited mobility. As a result, traffic increased, but our networks have handled it-for both data and voice traf- fic-without any congestions.
Mobile subscribers increased by 1.8% to 21.3 million in the quarter. The postpaid | High demand for |
segment remained strong as demand for mobile WiFi routers increased. RGUs | mobile WiFi routers |
declined by 0.9% year-on-year. In Austria driven primarily by voice and to a less- | |
er extent by low-bandwidth broadband RGUs. In the international markets, the | |
number of RGUs rose due to TV and broadband connections. Following the san- | |
itary crisis, we had high demand for mobile WiFi routers and mobile devices as | |
well as for VPN connections and bandwidth upgrades for business customers. In | |
the residential segment, gross ads have been lower on both the fixed and mobile | |
platforms. |
Colombia
Chile
Ecuador
Peru
Central America
For most of the quarter, the underlying positive trends of the previous quarters continued with both stable or growing service revenues and rising EBITDA in Bul- garia, Croatia, Belarus and Serbia. However, the market lost part of its dynamism in the second half of March.
Total revenues for the group were up 3.4% year-on-year to 1,126 million euros with growth in Bulgaria, Belarus and Serbia. In Austria, revenues were stable as lower fixed-line revenues were offset by higher mobile service and equipment revenues. Mobile service revenues were 5.2% greater than a year before rising in all markets except for Slovenia on the back of strong demand of mobile WiFi routers and upselling activities in the high-value segment in Austria
Stable growth in service revenues &
EBITDA
1Q Group revenues up 3.4% YoY
Caribbean
USA
Fixed-line service revenues were flat as growth in Eastern Europe outweighed the | Fixed-line service |
decline in Austria which resulted from fixed-line disconnections as well as from | |
revenues remained | |
voucher redemptions and lower installation fees associated to certain broadband | |
flat YoY | |
promotions. In the second half of March we started to feel an impact from the | |
collapse of customer and visitor roaming revenues. |
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
EBITDA for the Group, excluding restructuring charges, increased slightly by 0.4% to 397 million euros (reported: +1.7%), driven by higher service revenues that compensated for higher bad debt following an increase in provisions for past due amounts. In Austria, EBITDA excluding restructuring charges declined by 3.1%, due to lower fixed-line revenues and higher bad debt provisions, increased advertising costs and the continued improvement of security, infrastructure and digitalization measures. In the international markets, EBITDA grew by 6.5% driven by Bulgaria, Belarus and Serbia. The margin for the group stood at 35.2%.
Adjusted EBITDA margin at 35% of revenues
CONTENT
page 26
Highlights
Relevant events
Subscribers
América Móvil Consolidated
Mexico
On January 27th, A1 launched in Austria its "5Giga" premium tariff portfolio for mobile and Internet@Home segments. The initial uptake for our 5Giga products showed strong demand.
On March 2nd, A1 successfully launched its new TV platform A1 Xplore TV with 260 channels, 7 day replay, multiscreen experience - on TV, tablet, smartphone, laptop and Chromecast - as well as up to 500 hours recording and many integrated apps.
INCOME STATEMENT (In accordance with IFRS 16) - A1Telekom Austria Group
Millions of Euros
Strong demand for 5Giga products
A1 launched new TV platform: A1 Xplore TV
Argentina
Brazil
Colombia
Chile
Ecuador
Peru
Central America
Caribbean
USA
Austria & CEE
Currency Exchange Rates
Appendix
Glossary
1Q20 | 1Q19 | Var.% | |||
Total Revenues | 1,126 | 1,089 | 3.4% | ||
Total service revenues | 950 | 924 | 2.7% | ||
Wireless service revenues | 521 | 495 | 5.2% | ||
Fixed-line service revenues | 429 | 430 | -0.1% | ||
Equipment revenues | 158 | 144 | 10.1% | ||
Other operating income | 18 | 22 | -15.5% | ||
EBITDA | 381 | 374 | 1.7% | ||
% total revenues | 33.8% | 34.3% | |||
Adjusted EBITDA(1) | 397 | 395 | 0.4% | ||
% total revenues | 35.2% | 36.3% | |||
EBIT | 147 | 140 | 5.1% | ||
% total revenues | 13.1% | 12.9% | |||
For further detail please visit www.a1.group/en/investor-relations | |||||
(1)Does not include restructuring charges in Austria. | |||||
A1 Telekom Austria Group Operating Data | |||||
1Q20 | 1Q19 | Var.% | |||
Wireless Subscribers (thousands) | 21,306 | 20,933 | 1.8% | ||
Postpaid | 17,100 | 16,288 | 5.0% | ||
Prepaid | 4,206 | 4,645 | -9.5% | ||
MOU(1) | 397 | 354 | 12.2% | ||
ARPU (Euros) | 8 | 8 | 3.5% | ||
Churn (%) | 1.5% | 1.8% | (0.3) | ||
Revenue Generating Units (RGUs) * | 6,131 | 6,185 | -0.9% |
*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 27
Exchange Rates Local Currency Units per MxP
1Q20 | 1Q19 | Var.% | |
Euro | |||
End of Period | 0.0386 | 0.0461 | -16.4% |
Average | 0.0457 | 0.0458 | -0.2% |
U.S. | |||
End of Period | 0.0425 | 0.0518 | -17.8% |
Average | 0.0504 | 0.0520 | -3.1% |
Brazilean Real | |||
End of Period | 0.2211 | 0.2017 | 9.6% |
Average | 0.2244 | 0.1962 | 14.4% |
Argentinean Peso | |||
End of Period | 2.7419 | 2.2438 | 22.2% |
Average | 3.1021 | 2.0295 | 52.9% |
Chilean Peso | |||
End of Period | 36.2378 | 35.1204 | 3.2% |
Average | 40.4554 | 34.7178 | 16.5% |
Colombian Peso | |||
End of Period | 172.8809 | 165.1617 | 4.7% |
Average | 178.0793 | 163.2116 | 9.1% |
Guatemalan Quetzal | |||
End of Period | 0.3268 | 0.3976 | -17.8% |
Average | 0.3871 | 0.4016 | -3.6% |
Peruvian Sol | |||
End of Period | 0.1464 | 0.1719 | -14.8% |
Average | 0.1716 | 0.1730 | -0.8% |
Dominican Republic Peso | |||
End of Period | 2.3401 | 2.6185 | -10.6% |
Average | 2.7185 | 2.6304 | 3.4% |
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
Exchange Rates Local Currency Units per USD
1Q20 | 1Q19 | Var.% | |
Euro | |||
End of Period | 0.9065 | 0.8914 | 1.7% |
Average | 0.9069 | 0.8808 | 3.0% |
Mexican Peso | |||
End of Period | 23.5122 | 19.3201 | 21.7% |
Average | 19.8341 | 19.2202 | 3.2% |
Brazilean Real | |||
End of Period | 5.1987 | 3.8967 | 33.4% |
Average | 4.4511 | 3.7706 | 18.0% |
Argentinean Peso | |||
End of Period | 64.4690 | 43.3500 | 48.7% |
Average | 61.5281 | 39.0065 | 57.7% |
Chilean Peso | |||
End of Period | 852.0300 | 678.5300 | 25.6% |
Average | 802.3949 | 667.2841 | 20.2% |
Colombian Peso | |||
End of Period | 4,064.8100 | 3,190.9400 | 27.4% |
Average | 3,532.0353 | 3,136.9606 | 12.6% |
Guatemalan Quetzal | |||
End of Period | 7.6847 | 7.6810 | 0.0% |
Average | 7.6769 | 7.7192 | -0.5% |
Peruvian Sol | |||
End of Period | 3.4420 | 3.3210 | 3.6% |
Average | 3.4034 | 3.3253 | 2.3% |
Dominican Republic Peso | |||
End of Period | 55.0200 | 50.5900 | 8.8% |
Average | 53.9189 | 50.5565 | 6.7% |
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 29
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 30
Net debtTotal short and long term debt minus cash and marketable securities.
Net debt
- EBITDAThe ratio of total short and long term debt minus cash and securities to trail- ing 12-month income before interest, taxes, depreciation and amortization.
PrepaidSubscriber that may purchase airtime to recharge a cellular phone. The client does not hold a contract with the company for voice and data services.
PostpaidSubscriber 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. |
SACSubscriber 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
penetrationThe 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.
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América Móvil SAB de CV published this content on 28 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2020 07:37:09 UTC