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America Movil net profit down 78% in Q4 on forex effects
2015-02-11 08:02:00| Telecompaper Headlines
(Telecompaper) America Movil reported fourth-quarter net profit down 77.8 percent from a year earlier to MXN 3.612 bilion, hurt by fluctuations in exchange rates. EBITDA was also down 0.7 percent to MXN 67.67 billion, and EBIT dropped 5.2 percent to MXN 33.63 billion due to higher deprciation and amortisation charges. Pro forma for the acquisition of Telekom Austria, revenues rose 2.7 percent year-on-year to MXN 229.3 billion. At constant exchange rates, service revenue growth slowed to 3.2 percent, as regulatory cuts in interconnection rates in markets such as Mexico and Brazil impacted voice revenues. Mobile data continued to be the strongest growth driver, with revenues up 14.6 percent, followed by pay TV revenues up 12.7 percent. Fixed broadband revenues increased by 12.0 percent. Overall, service revenues rose 0.7 percent to MXN 197.44 billion, and equipment revenues increased 14.7 percent to 31.86 billion. Net debt increased slightly over the year on a pro forma basis, to MXN 533.4 billion from MXN 518.6 billion, and was equal to 1.7 times EBITDA after adjusting for currency exposure. America movil spent MXN 149.7 billion on capex last year, equal to 16.9 percent of revenues, while also returning MXN 52.1 billion to shareholders in dividends and share buybacks.
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Category:Telecommunications