Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Mexico
  4. Mexican Stock Exchange
  5. América Móvil, S.A.B. de C.V.
  6. News
  7. Summary
    AMX L   MXP001691213

AMÉRICA MÓVIL, S.A.B. DE C.V.

(AMX L)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

America Movil surprises with 80% profit jump

02/09/2021 | 05:39pm EDT

* EBITDA up 1.3%, company adds 6.8 mln subscribers

* Net profit hits $1.87 bln

* America Movil spins off mobile towers into new entity

MEXICO CITY, Feb 9 (Reuters) - Mexican telecommunications firm America Movil on Tuesday reported a surprise net profit of $1.87 billion in the fourth quarter, driven up nearly 80% by a favorable exchange rate.

The company, which is controlled by the family of Mexican billionaire Carlos Slim, reported the bonanza despite sales falling by 3.1% from the same quarter last year to 255 billion pesos.

Net profit rose to 37.3 billion pesos ($1.87 billion) from 20.8 billion pesos for the same period a year earlier, an increase of 79.6%.

The company cited exchange gains due to the strengthening of the Mexican peso against the U.S. dollar and the euro.

Mexican financial group Grupo Financiero Banorte had forecast net profit falling to 17.7 billion pesos. America Movil's sales slightly underperformed Banorte's forecast of 258.7 billion pesos for the quarter.

Local brokerage Monex noted a significant increase in postpaid mobile subscribers underpinning America Movil's earnings.

"We added 6.8 million wireless subscribers in the quarter, double the number in the previous quarter... including 2.7 million mobile postpaid subscribers," the company said.

Earnings before interest, tax, depreciation and amortization (EBITDA) grew 1.3% in peso terms during the October to December period.

"These figures validate an important recovery in the services segment," Monex said in a client note.

However, with exchange rate fluctuations driving the profit, it said the report was "neutral."

In the core market of Mexico, America Movil's base of postpaid customers grew 1.3% year-over-year and its prepaid base increased 1.1%. The company added 1.2 million subscribers, nearly all prepaid, to end the year with 77.8 million subscribers.

America Movil's board of directors also approved an asset reorganization plan on Tuesday for its Latin American towers, creating a spin-off entity focused on the development, construction and locations of the towers for mobile services, the company said.

It expects to complete the reorganization in 2021.

($1= 19.9500 pesos at end-December) (Reporting by Noe Torres, Abraham Gonzalez and Cassandra Garrison Editing by Drazen Jorgic and Rosalba O'Brien)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. 2.08% 14.75 End-of-day quote.1.79%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.00% 0.6447 Delayed Quote.2.45%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.00% 0.678279 Delayed Quote.5.97%
CANADIAN DOLLAR / MEXICAN PESO (CAD/MXN) 0.00% 16.528926 Delayed Quote.5.80%
All news about AMÉRICA MÓVIL, S.A.B. DE C.V.
05/07AMERICA MÓVIL B DE C  : América Móvil informs to the market
PU
05/03EQT holds out hope for KPN after rejection, sources say, but shares slide
RE
05/03EQT holds out hope for KPN after rejection, sources say, but shares slide
RE
05/03PRESS RELEASE  : cyan AG and Claro Chile sign contract for cyber security soluti..
DJ
04/30AMERICA MÓVIL B DE C  : América Móvil's first quarter of 2021 financial and oper..
PU
04/29iQSTEL, Inc. Is Setting Revenue Records; Video Explains Why This Internationa..
AQ
04/29AMERICA MÓVIL B DE C  : América Móvil Files 2020 Annual Report on Form 20-F
BU
04/28AMERICA MÓVIL B DE C  : Q1 2021 Transcript
PU
04/27AMERICA MÓVIL B DE C  : Movil's net profit rebounds in first quarter on lower fi..
RE
04/27AMERICA MÓVIL B DE C  : Q1 2021 Quarterly Report
PU
More news
Financials
Sales 2021 983 B 49 420 M 49 420 M
Net income 2021 85 660 M 4 305 M 4 305 M
Net Debt 2021 561 B 28 174 M 28 174 M
P/E ratio 2021 11,7x
Yield 2021 3,05%
Capitalization 978 B 49 213 M 49 163 M
EV / Sales 2021 1,56x
EV / Sales 2022 1,52x
Nbr of Employees 184 100
Free-Float 48,7%
Chart AMÉRICA MÓVIL, S.A.B. DE C.V.
Duration : Period :
América Móvil, S.A.B. de C.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMÉRICA MÓVIL, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 17,88 MXN
Last Close Price 14,75 MXN
Spread / Highest target 49,2%
Spread / Average Target 21,3%
Spread / Lowest Target 6,44%
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
Sector and Competitors
1st jan.Capitalization (M$)
AMÉRICA MÓVIL, S.A.B. DE C.V.1.79%49 213
AT&T INC.11.82%229 573
T-MOBILE US3.17%173 463
SOFTBANK GROUP CORP.24.10%160 164
KDDI CORPORATION10.21%70 832
VODAFONE GROUP PLC17.26%55 651