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America Movil posts fall in Q2 revenues, EBITDA
2015-07-17 08:33:00| Telecompaper Headlines
(Telecompaper) America Movil reported second-quarter revenues down 0.1 percent to MXN 220 billion, hurt by weak results in its home market Mexico, the economic slowdown in its largest market Brazil and currency effects. EBITDA fell 5.0 percent to MXN 68.3 billion pesos, and the EBITDA margin declined from 32.6 percent to 31.1 percent. At constant exchange rates, service revenues were down 0.5 percent in the period, and EBITDA fell 3.1 percent. Operating profit was still up 2.2 percent to MXN 36.3 billion, helped by lower depreciation, amortisation and impairment charges. While the company recorded a 24 percent drop in financing costs, increased losses from its affiliates in Europe (Telekom Austria and KPN) led to a 16 percent fall in net profit to MXN 14.0 billion. Over the first half of the year, America Movil's capital expenditures reached MXN 70.9 billion, and it also spent MXN 23.1 billion on share buybacks.
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Category:Telecommunications