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America Movil Q3 revenues up 1.2%, EBITDA falls
2015-10-20 10:02:00| Telecompaper Headlines
(Telecompaper) America Movil announced that its third-quarter revenues were up 1.2 percent from the prior year to MXN 223.6 billion. Service revenues fell 0.6 percent excluding currency effects, similar to the Q2 performance, as the drop in voice revenues offset accelerating data revenues. EBITDA fell 8.2 percent over the same period to MXN 66.7 billion, hurt by currency depreciation in countries such as Brazil and Colombia. America Movil noted that Central America has now become its fastest growing region, due to the economic slowdown in South America. Operating profit reached MXN 35.2 billion, down 17.5 percent from a year earlier, and the net result moved to a loss of MXN 2.1 billion versus a profit of MXN 17.2 billion as financing costs increased and the company became a net taxpayer. Net debt increased by MXN 61.3 billion compared to the end of 2014, mainly due to reclassifying the KPN investment as an asset for sale. Net debt equaled 1.8 times EBITDA at the end of Septmber. In the first nine months of the year, the company funded capital expenditures totaling MXN 105.7 billion.
Tags: america
falls
revenues
movil
Category:Telecommunications