America Movil de CV : Q3 2018 Quarterly Report

Carlos García-MorenoChief Financial Offi[e-mail]

Daniela Lecuona Torras

Investor Relations Offi[e-mail]

América Móvil's third quarter of 2018 financial and operating report

Mexico City, October 16th, 2018 - 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 2018.

3Q18

• • We gained 1.1 million postpaid subscribers in the third quarter, including 472 thousand in Brazil, 184 thousand in Mexico and 100 thousand in Colombia. Our postpaid base increased 7.6% from the year-earlier quarter.

  1.1M postpaid net adds

• • Fixed-broadband continued to be the fastest growing segment on the fixed-line platform, 4.7% year-on-year, after adding 284 thousand new accesses in the quarter.

  Broadband accesses up 4.7% YoY

• • Revenues were up 2.1% year-on-year in Mexican peso terms and were just shy of 250 billion pesos. At constant exchange rates service revenues were up 3.4% year-on-year, their best performance in five quarters. Service revenue growth increased practically across the board, with Mexico posting a 4.7% increase.

  Service revenues +3.4% YoY at constant Fx

• • Postpaid mobile revenues led the way with an 8.6% increase, followed by fixed-broadband revenues at 6.2%.

• • In the mobile space service revenue shot up in Brazil and Mexico 10.5% and 9.5% respectively, with mobile ARPUs rising 13% in Brazil, 11% in the U.S. and 8% in Mexico.

  Postpaid revenues +8.6% YoY

  Service revenues up in most operations

• • EBITDA of 71.8 billion pesos was 7.7% higher than a year before; at constant exchange rates EBITDA was up 13.0%, it would have increased 8.6% in ab-sense of the release of some provisions in Brazil. Our EBITDA margin, 28.8%, increased 2 percentage points from a year before. Approximately 1 percent-age point of the margin is related to the aforementioned provisions.

  EBITDA up 13% YoY at constant Fx

• • Our operating profit increased 23.4% to 35.3 billion pesos. Together with a comprehensive financing income of 3.3 billion pesos- mostly driven by for-eign exchange gains but also the release of provisions in Brazil -resulted in a net profit of 18.6 billion pesos for the period.

  EBIT up 23% YoY

• • Through September we funded our capital expenditures of 91.7 billion pesos, paid out net dividends in the amount of 10.1 billion pesos, contributed 15.6 billion pesos to our pension funds and reduced by 14.0 billion pesos our net borrowings.

  CapEx of MxP 92Bn

• • Our net debt stood at 584 billion pesos at the end of September, down 45 billion pesos from December. Relative to LTM EBITDA, it stood at 2.0 times.

We will host our conference call to discuss 3Q18 financial and operating results on October 17that 9:00am Mexico City time. To access the call please log on towww.americamovil.com/investors

Net debt down MxP 45Bn

América Móvil's Subsidiaries as of September 2018

Country

Brand

Mexico

Telcel

Telmex

Sección Amarilla(1)TelvistaArgentina

ClaroTelmexBrazil

Claro

Chile

ClaroTelmex(1)Colombia

ClaroTelmexCosta Rica

Claro

Dominicana

ClaroEcuador

Claro

El Salvador

Claro

Guatemala

Claro

Honduras

Claro

Nicaragua

ClaroPanama

Claro

Paraguay

Claro

Peru

Claro

Puerto Rico

Claro

Uruguay

ClaroUSA

Tracfone

Netherlands

KPN

Austria

Telekom Austriawireless 100.0%

wireline 98.8%

other 98.4%

other 90.0%

wireless 100.0%

wireline 99.7%

wireless/wireline 97.7%

wireless 100.0%

wireline 100.0%

wireless 99.4%

wireline 99.3%

wireless 100.0%

wireless/wireline 100.0%

wireless/wireline 100.0%

wireless/wireline 95.8%

wireless/wireline 99.3%

wireless/wireline 100.0%

wireless/wireline 99.6%

wireless/wireline 100.0%

wireless/wireline 100.0%

wireless/wireline 100.0%

wireless/wireline 100.0%

wireless/wireline 100.0%

wireless 100.0%

wireless/wireline 16.1%

wireless/wireline 51.0%

(1) Equity Participation of Telmex Internacional of which América Móvil owns 97.92%.

Business

Equity Participation

Relevant Events

On September 17th, América Móvil delivered 224,695,844 KPN shares, equivalent to 5% of the total shares outstanding, following the maturity of a mandatory ex-changeable Bond with a nominal amount outstanding of 750 million euros. This represented the sale of those shares at an effective price per share of 3.3374 euros.

Maturity of a mandatory exchangeable bond of EUR 750M

On September 6th, we called a hybrid bond due 2073 with an aggregate principal amount of 900 million euros at a redemption price equal to 100% of its face value. Notwithstanding this redemption America Movil believes that hybrid bonds con-stitute an integral part of its capital base.

América Móvil Fundamentals (in accordance with IFRS)

3Q18	3Q17
Earnings per Share (Mex$)(1)	0.28	-0.14
Earning per ADR (US$)(2)	0.30	-0.16
EBITDA per Share (Mex$)(3)	1.09	0.72
EBITDA per ADR (US$)	1.14	0.81
Net Income (millions of Mex$)	18,631	-9,547
Average Shares Outstanding (billion)	66.05	66.02
(1) Net Income / Average Shares Outstanding
(2) 20 shares per ADR
(3) EBITDA / Average Shares Outstanding
Access Lines

AMX called a hybrid bond with an amount of EUR 900M

We ended the third quarter with 362.7 million access lines. Fixed RGUs increased	363M accesses
0.7% from a year before-with broadband accesses rising 4.7%-while our wire-
less base declined 0.4%.
We gained 1.1 million mobile postpaid subscribers in the quarter, so our contract	472k postpaid net
base reached 74.2 million in September, a 7.6% increase from the prior year. Bra-	adds in Brazil
zil led the way with 472 thousand subs followed by Mexico with 184 thousand
and Colombia with 100 thousand adds. Their postpaid base increased 15.2%, 6.0%
and 4.3%, respectively. In the prepaid segment we disconnected 767 thousand
subscribers, including 522 thousand in Brazil and 333 thousand in the US.
Fixed RGUs reached 83.3 million. Broadband continues to be the fastest growing	284k new
segment with 284 thousand new accesses in the quarter, including 105 thousand	broadband
in Brazil, 93 thousand in Central America and 42 thousand in Colombia.	accesses in 3Q

Wireless Subscribers as of September 2018

Country

Argentina, Paraguay and Uruguay Austria & CEE

Brazil

Central America CaribbeanChile ColombiaEcuador MexicoPeruUSA

Total Wireless Lines

Total(1)(Thousands)

Sep '18

Jun '18

Var.%Sep '17

Var.%

24,130

24,059

0.3%

24,000

0.5%

21,099

20,735

1.8%

20,828

1.3%

58,954

59,004

-0.1%

60,398

-2.4%

15,954

16,074

-0.7%

15,653

1.9%

5,809

5,737

1.3%

5,583

4.1%

6,823 29,233

6,991 29,168

-2.4% 0.2%

6,880 29,112

-0.8% 0.4%

8,160 74,704

8,068 74,412

1.1% 0.4%

8,612 73,315

-5.2% 1.9%

12,710

12,656

0.4%

12,238

3.9%

21,793279,369

22,126279,029

-1.5%0.1%

23,743280,363

-8.2%-0.4%

(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.

Fixed-Line and Other Accesses (RGUs) as of September 2018

Total(1)(Thousands)
Country	Sep '18	Jun '18	Var.%	Sep '17	Var.%
Argentina, Paraguay and Uruguay	743	706	5.2%	663	12.1%
Austria & CEE	6,182	6,183	0.0%	6,015	2.8%
Brazil	35,602	35,791	-0.5%	35,962	-1.0%
Central America	6,121	6,030	1.5%	5,698	7.4%
Caribbean	2,571	2,603	-1.2%	2,721	-5.5%
Chile	1,399	1,372	2.0%	1,353	3.4%
Colombia	7,074	6,960	1.6%	6,679	5.9%
Ecuador	378	375	0.7%	362	4.3%
Mexico	21,801	21,892	-0.4%	21,857	-0.3%
Peru	1,460	1,436	1.7%	1,408	3.7%
Total RGUs	83,333	83,350	0.0%	82,719	0.7%
(1) Fixed Line, Broadband and Television (Cable & DTH).

América Móvil Consolidated Results

The continued expansion of the U.S. economy through the summer, with strong job creation even in the face of historically high levels of employment, ended up pushing 10 year U.S. Treasury yields decisively above 3%, bringing about a new bout of dollar strength that affected emerging markets in general, including several of the currencies in the region where we operate, more importantly in Argentina and Brazil. This effect was partially offset by the reduced political un-certainty in some countries with their currencies appreciating vs. the U.S. dollar as their presidential elections were left behind (Mexico and Colombia).

Our revenues were just shy of 250 billion Mexican pesos in the third quarter, rep-resenting a 2.1% increase from the year-earlier quarter. At constant exchange rates service revenues were up 3.4% year-on-year, their best performance in five quarters, with mobile postpaid revenues leading the way at 8.6%, followed by fixed-broadband revenues at 6.2%.

Best performance in sevice revenues in five quarters

Service revenues increased practically across the board, with Mexico posting a 4.7% increase and Paraguay and Costa Rica growing 13.0% and 7.9%, respectively. Given the country's high inflation rate, our Argentina revenues are expanding at a pace in the mid-20s per-cent.

Mobile service revenue growth was strong in Mex-ico and Brazil at 9.5% and 10.5%, respectively. Mo-bile ARPUs rose 13% in Brazil, 11% in the U.S. and 8% in Mexico. Overall our data traffic per user rose 78.2% year-on-year doubling in Brazil, Peru and the U.S. and expanding more than 60% in Mexico, Chile, Ecuador and Guatemala. Voice traffic per user in-creased 8.8%, rising 35% in Ecuador, nearly 20% in Brazil and somewhere in the mid-teens in both Chile and Peru.

3Q18 Service Revenues(1)

(%)

+++2

2.0

30.1

34.9

33.0

Mobile PostpaidMobile PrepaidFixed Bundles(2)Fixed Voice

(1)Does not include revenues from other telcos, including interconnection and roaming.

(2)Includes Fixed-Broadband, Pay-TV and Fixed Voice in double or triple play bundles.

Mexico's service revenues up 4.7% YoY

Significant growth in mobile service revenues in Mexico and Brazil

On the fixed platform service revenues rose 9.0% in Colombia and 4.8% in both Chile and Ecuador, while they declined in Mexico, Brazil and Guatemala by 4.0%, 3.2% and 5.4%, respectively.

Fixed service revenues up in Colombia

EBITDA came in at 71.8 billion pesos in the quarter and was 7.7% higher than a year before. It represented 28.8% of revenues. The release of certain provisions in Brazil pertaining to Claro having won a legal case disputing the legality of a regime that set taxes on taxes (in this case ICMS on top of PIS-COFINS) explains approximately 1 percentage point of the margin. At constant exchange rates EBITDA was up 13.0% in the quarter; it would have increased 8.6% in the absence of the reserve release mentioned above.

EBITDA of MxP 72Bn, +13% YoY at constant Fx