America Movil Q2 Profits Jump by 27% to $1.7 Billion

America Movil has reported that it added 3.7 million subscribers in the second quarter of the year, bringing its total base to 190.3­ million. The company also had 3.8 million landlines in Central America and the Caribbean at the end of the quarter, for a total of 194.1 million lines in the Americas.

Second quarter revenues were up 11.2% year-on-year to Ps. 94 billion (US$7.1 billion). Service revenues rose 15.9% annually supported by strong data revenue growth. EBITDA totaled Ps. 39.3 billion, having risen 13.4% on an annual basis. The EBITDA margin was up nearly one point from a year before, to 41.8%.

The net profit reached Ps. 22.5 billion ($1.7 billion), 27.5% more than a year before.

At the end of June, the subscriber base comprised 58.1 million subscribers in Mexico, 40.5 million in Brazil, 27.1 million in Colombia and 16.2 million in Argentina. Brazil grew the fastest amongst these operations at 22.3% year-on-year. Colombia and Argentina expanded at a similar pace (approximately 12%) whereas Mexico was just behind them with a 10% annual increase. The Dominican Republic exhibited the fastest rate of growth: 47.9% year-on-year.

Net debt came down by Ps. 25.9 billion in June relative to December, to Ps. 95.5 billion (US$7.23 billion).

Posted to the site on 24th July 2009