America Movil Profits Halved on Currency Losses
Mexico based America Movil has reported a 46% fall in its second quarter profits of MX13.3 billion (US$982 million), hit by a MX16.1 billion currency loss Revenues rose though, by 9.3 percent to MX191.7 billion (US$14.2 billion).
The company added 5.9 million wireless customers and 1.7 million landline customers during the three months, taking its total customer based to 313.1 million. The customer base is made up of 251.8 million wireless customers, 30 million landline, 16.1 million broadband and 15.1 TV customers.
The company added added 1.4 million new wireless subscribers in each of Mexico and Brazil, 577
thousand in Central America and the Caribbean and 406 thousand in Peru. Colombia
and the Argentinean block obtained around 350 thousand new customers each.
The more subdued wireless growth reflects the change in methodology for Mexico, Colombia and Ecuador enacted in the last quarter of 2011 whereby only prepaid subscribers that continue to originate calls are retained as such.
At the end of June, the company had 68.1 million subscribers in Mexico, 63 million in Brazil, 29.4 million in Colombia and 21.3 million in the US. They also had 20.2 million clients in Argentina and 19.6 million in Central America and the Caribbean.
Wireless ARPUs rose practically everywhere -- Brazil being the notable
exception -- led
by mobile data.
Net debt increased by MX 29.7 billion to MX361 billion (US$26.7 billion), as a result of the new investments in KPN and Telekom Austria.