UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF A
FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2020
Commission File Number: 1-16269
AMÉRICA MÓVIL, S.A.B. DE C.V.
(Exact Name of the Registrant as Specified in the Charter)
America Mobile
(Translation of Registrants Name into English)
Lago Zurich
245
Plaza Carso / Edificio Telcel, Piso 16
Colonia Ampliación Granada, Miguel Hidalgo
11529 Mexico City, Mexico
(Address of Principal Executive Office)
Indicate by
check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
América Móvils third quarter of
2020 financial and operating report
Mexico City, October 20th, 2020 - América Móvil, S.A.B. de C.V. (América Móvil) [BMV: AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the third quarter
of 2020.
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As confinement measures began to be lifted our commercial activity saw a rebound in most countries in our region of
operations.
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Postpaid net additions totaled 1.8 million wireless subscribers, the majority coming from Brazil, Austria and
Colombia. In the prepaid segment, we gained 1.4 million clients including 1.2 million in Mexico, approximately 300 thousand in each of Colombia and Ecuador, and 237 thousand in Peru.
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Fixed-broadband remains the main driver on the fixed-line platform; we connected 446 thousand new broadband
accesses, including 122 thousand in Colombia, 117 thousand in Mexico, 70 thousand in Peru and 62 thousand in Brazil.
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Third quarter revenues of 260 billion pesos rose 4.7% year-on-year in Mexican peso terms as service revenues expanded 5.4%. At constant exchange rates, service revenues increased 1.5%. from 0.8% in the prior quarter with those on the mobile platform accelerating
to 3.5% from 2.3% in the prior quarter.
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Mobile service revenues were lifted by prepaid revenues which rose 2.5% after declining 2.0% the prior quarter.
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EBITDA of 86.5 billion pesos was up 10.1% in Mexican peso terms. At constant exchange rates EBITDA increased 7.2%,
more than twice as in the prior quarter.
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Our operating profit jumped 18.4% to 45.1 billion pesos and helped bring about an increase of 45% in our net income
of 18.9 billion pesos in the third quarter, even after financing costs of 22.4 billion pesos that were up 82% year-on-year.
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Our cash flow covered our capital expenditures of 91.0 billion pesos and allowed us to significantly reduce our
liabilities, directing 47.0 billion pesos to the reduction of our net debt and 15 billion pesos to pension obligations.
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At the end of September our net debt stood at 726 billion pesos, up from 677 billion pesos relative to
December on account of the depreciation of the Mexican peso vs. the U.S. dollar and the euro. It stood at 1.88 times EBITDA under IAS 17.
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We will host our conference call to discuss 3Q20 financial and operating results on October 21st at 9:00am Mexico City time. To access
the call please log on to www.americamovil.com/investors
América Móvil Fundamentals
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3Q20
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3Q19
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Earnings per Share (Mex$)(1)
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0.28
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0.20
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Earning per ADR (US$)(2)
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0.26
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0.20
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EBITDA per Share (Mex$)(3)
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1.30
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1.19
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EBITDA per ADR (US$)
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1.18
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1.22
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Net Income (millions of Mex$)
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18,861
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13,043
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Average Shares Outstanding (billion)
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66.37
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66.01
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(1)Net Income / Average
Shares Outstanding
(2)20 shares per ADR
(3)EBITDA/ Average Shares Outstanding
América Móvils Subsidiaries as of September 2020
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Country
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Brand
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Business
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Equity
Participation
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Mexico
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Telcel
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wireless
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100.00%
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Telmex
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wireline
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98.80%
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Sección Amarilla
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other
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100.00%
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Telvista
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other
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90.00%
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Argentina
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Claro
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wireless
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100.00%
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Telmex
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wireline
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100.00%
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Brazil
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Claro
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wireless/wireline
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98.50%
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Chile
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Claro
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wireless
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100.00%
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Telmex
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wireline
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100.00%
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Colombia
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Claro
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wireless/wireline
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99.40%
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Costa Rica
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Claro
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wireless
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100.00%
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Dominicana
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Claro
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wireless/wireline
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100.00%
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Ecuador
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Claro
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wireless/wireline
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100.00%
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El Salvador
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Claro
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wireless/wireline
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95.80%
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Guatemala
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Claro
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wireless/wireline
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99.30%
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Honduras
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Claro
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wireless/wireline
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100.00%
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Nicaragua
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Claro
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wireless/wireline
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99.60%
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Panama
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Claro
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wireless/wireline
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100.00%
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Paraguay
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Claro
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wireless/wireline
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100.00%
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Peru
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Claro
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wireless/wireline
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100.00%
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Puerto Rico
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Claro
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wireless/wireline
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100.00%
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Uruguay
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Claro
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wireless/wireline
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100.00%
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USA
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Tracfone
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wireless
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100.00%
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Netherlands
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KPN
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wireless/wireline
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17.90%
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Austria
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Telekom Austria
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wireless/wireline
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51.00%
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The reported figures for Argentina corresponding to the third quarter of 2020 are presented in
accordance with a) IAS29 reflecting the effects of the adoption of inflationary accounting that became mandatory after the Argentinean economy was deemed to be hyperinflationary in the third quarter of 2018 and b) IAS21 translated to Mexican pesos
using the end-of-period exchange rate.
All
comparisons at constant exchange rates for América Móvils consolidated figures will exclude Argentina to ensure consistency.
Relevant Events
On September 14th, 2020 we announced that we entered into an agreement with Verizon Communications Inc. to sell our 100% interest in TracFone Wireless,
Inc., the largest mobile virtual prepaid service operator in the United States, serving 21 million subscribers. The agreed purchase price payment at the closing is US$6,250 million, of which one-half
will be in cash and the other in Verizon stock. In addition, following the closing, Verizon shall pay to AMX: (i) up to US$500 million as an earn-out if Tracfone continues to achieve certain
performance measures during the 24 months following the closing, calculated and paid in 4 consecutive 6-month periods, and (ii) US$150 million deferred commercial consideration payable within two
years following the closing. AMX will continue to benefit from EBITDA generated by Tracfone during fiscal year 2020 and until the closing date of the transaction. The closing of the transaction is subject to customary conditions for this type of
transactions, including obtaining required governmental approvals. Parties expect the closing to occur during 2021.
On September 3rd we terminated
the agreement to purchase 99.3% of Telefónica Móviles El Salvador, S.A. de C.V. The decision comes after careful consideration by both parties of the conditions established by the Superintendencia de Competencia for approval of the
transaction.
On July 27th we informed that our Brazilian subsidiary, Claro S.A. (Claro), agreed to extend a binding offer submitted
jointly with Telefónica Brasil S.A. and TIM S.A for the acquisition of the mobile business owned by Oi Group, in the amount of R$16,500 million. The offer was submitted by the parties, and is subject to certain conditions, including
their right to make a higher bid than any other offer potentially presented by a third party (right to top) in the competitive process of Oi Groups mobile business sale. Claro believes that the joint offer with TIM and
Telefónica is the one that best serves the interests of current customers of Oi, as it provides long-term experience in the Brazilian market, investment capacity and technical innovation to the sector as a whole and it is in line with current
regulation.
In August we established a Euro Commercial Paper Program in the amount of 2.0 billion euros under which we expect to issue
regularly securities with maturities of up to 360 days.
Access Lines
As confinement measures began to be lifted throughout our region of operations towards the end of the second quarter, an improving trend became apparent
on commercial activity.
We ended September with 281 million wireless subscribers, after net additions of 3.2 million. This figure
comprises 1.8 million postpaid net gains and 1.4 million prepaid net gains. Our postpaid base was up 5.7% organically. Brazil led the way in terms of postpaid growth after adding 1.8 million subscribers followed by Austria with
241 thousand and Colombia with 142 thousand. The prepaid base ended the quarter with 186 million subscribers, after adding 1.2 million in Mexico, approximately 300 thousand in each of Colombia and Ecuador, and
237 thousand in Peru.
On the fixed-line segment we gained 446 thousand new broadband clients with every operation posting an increase in
accesses, except for Austria and Croatia. However, in the PayTV segment we registered disconnections of 243 thousand in the quarter and in fixed-line voice the number of lines came down by 242 thousand.
We ended September with a total of 362 million access lines, which includes 281 million wireless subscribers and 81 million fixed-line
RGUs.
Wireless Subscribers as of September 2020
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Total(1) (Thousands)
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Country
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Sep 20
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Jun 20
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Var.%
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Sep 19
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Var.%
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Argentina, Paraguay and Uruguay
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23,996
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24,259
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-1.1%
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24,536
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-2.2%
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Austria & CEE
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21,609
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21,208
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1.9%
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21,520
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0.4%
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Brazil
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60,005
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58,520
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2.5%
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56,451
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6.3%
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Central America
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14,533
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14,541
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-0.1%
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15,290
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-4.9%
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Caribbean
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6,237
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6,087
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2.5%
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6,139
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1.6%
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Chile
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6,505
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6,793
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-4.2%
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6,779
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-4.0%
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Colombia
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32,024
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31,535
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1.6%
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30,577
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4.7%
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Ecuador
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7,822
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7,878
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-0.7%
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8,422
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-7.1%
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Mexico
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76,563
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75,378
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1.6%
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76,150
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0.5%
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Peru
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10,552
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10,387
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1.6%
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11,623
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-9.2%
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USA
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20,876
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20,918
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-0.2%
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21,229
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-1.7%
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Total Wireless Lines
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280,722
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277,503
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1.2%
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278,716
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0.7%
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(1)Includes total
subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated.
Fixed-Line and Other Accesses (RGUs) as of September 2020
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Total(1) Thousands
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Country
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Sep 20
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Jun 20
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Var.%
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Sep 19
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Var.%
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Argentina, Paraguay and Uruguay
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1,385
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1,278
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8.4%
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1,023
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35.3%
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Austria & CEE
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6,066
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6,105
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-0.6%
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6,135
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-1.1%
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Brazil
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32,952
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33,260
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-0.9%
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34,448
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-4.3%
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Central America
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4,227
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4,379
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-3.5%
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4,385
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-3.6%
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Caribbean
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2,532
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2,509
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0.9%
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2,537
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-0.2%
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Chile
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1,391
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1,401
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-0.7%
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1,418
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-1.9%
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Colombia
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8,155
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7,938
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2.7%
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7,555
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7.9%
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Ecuador
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446
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|
454
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-1.8%
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|
431
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3.5%
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Mexico
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22,011
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21,961
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0.2%
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22,158
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-0.7%
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Peru
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1,787
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|
1,707
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4.7%
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1,578
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13.3%
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Total RGUs
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80,953
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80,993
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0.0%
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81,669
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-0.9%
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(1)Fixed Line, Broadband and
Television (Cable & DTH). Central America figures have been adjusted in accordance with the methodolgy used for all AMX operations.
América Móvil Consolidated Results
Following the massive monetary and fiscal stimulus introduced throughout the world since the advent of the pandemic, the third quarter saw a rebound in
economic activity in most countries in our region of operation and little of the volatility that was present in the prior two quarters. With the exception of the Brazilian real, which continued to deteriorate vs. the U.S. dollar, the main currencies
in Latin America did not see much change over the period.
Our third quarter revenues rose 4.7% in Mexican peso terms from a year before to reach
260 billion pesos, as service revenues expanded 5.4%. At constant exchange rates service revenues were up 1.5%roughly twice as fast as in the preceding quarteron the back of continued strong performance of fixed-broadband revenues
and the recovery of mobile prepaid revenues, those most affected in the prior quarter in the midst of the lockdown measures implemented throughout Latin America. The difference between the growth rate in peso terms and that at constant exchange
rates has to do with the Mexican peso having depreciated against practically all other operating currencies except the Brazilian real and the Argentinean peso in the period: revenues in other currencies increased faster in peso terms.
Mobile service revenues accelerated to 3.5% from 2.3% in the second quarter buoyed by prepaid revenuesthey rose to +2.5% from -2.0%while fixed-line service revenues maintained a 1.4% pace of decline as the gains observed in fixed-broadband revenuesfrom a pace of +7.3% to one of +9.1%were equaled by new revenue losses in
fixed-line voice and PayTV revenues. The rhythm of decline of the latter, -9.2%, equaled the pace of growth of fixed-broadband revenues.
Colombia was the only country where service revenues expanded on both the mobile and the fixed-line platform in the third quarteralmost at the
same pace in each one. The strongest growth on that platform was in those countries that have more recently initiated their fixed-line operationsPeru, Ecuador, Argentina, Costa Ricawhile Dominicana, Brazil and Puerto Rico all had,
together with Colombia, very strong showings on the mobile platform.
Across our operations, voice MOUs rose 11.7% while mobile data per user was up
41.2%, all of which resulted in a 5.0% increase in mobile ARPUs at constant exchange rates. Prepaid ARPUs shot up to an 8.0% year-on-year increase from 0% the preceding
quarter while postpaid ARPUs decelerated sharply their rate of decline, from -6.4% in the second quarter to -1.4% in the third.
EBITDA was up 10.1% in the third quarter from the year-earlier quarter to 86.5 billion pesos as the EBITDA margin remained at 33.2%. At constant
exchange rates EBITDA increased 7.2%, more than twice as fast as it had in the preceding quarter, with Puerto Rico, Mexico and Dominicana posting important advances. Puerto Ricos EBITDA growth went from 10% to 38%; Mexicos improved from -10.3% to +1.3% whereas Dominicanas increased from -5.5% to +5.8%.
América Móvils Income Statement Millions of Mexican pesos
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|
|
|
|
|
|
|
|
|
|
3Q20
|
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|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
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|
|
|
Service Revenues
|
|
|
216,113
|
|
|
|
205,038
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|
|
|
5.4%
|
|
|
|
645,083
|
|
|
|
617,637
|
|
|
|
4.4%
|
|
|
|
Equipment Revenues
|
|
|
42,636
|
|
|
|
41,968
|
|
|
|
1.6%
|
|
|
|
112,814
|
|
|
|
122,003
|
|
|
|
-7.5%
|
|
|
|
Total Revenues*
|
|
|
260,172
|
|
|
|
248,475
|
|
|
|
4.7%
|
|
|
|
761,857
|
|
|
|
744,207
|
|
|
|
2.4%
|
|
|
|
Cost of Service
|
|
|
76,755
|
|
|
|
74,009
|
|
|
|
3.7%
|
|
|
|
229,528
|
|
|
|
223,091
|
|
|
|
2.9%
|
|
|
|
Cost of Equipment
|
|
|
43,779
|
|
|
|
42,451
|
|
|
|
3.1%
|
|
|
|
119,507
|
|
|
|
123,574
|
|
|
|
-3.3%
|
|
|
|
Selling, General & Administrative Expenses
|
|
|
52,088
|
|
|
|
52,166
|
|
|
|
-0.1%
|
|
|
|
162,796
|
|
|
|
161,648
|
|
|
|
0.7%
|
|
|
|
Others
|
|
|
1,091
|
|
|
|
1,341
|
|
|
|
-18.7%
|
|
|
|
3,289
|
|
|
|
3,939
|
|
|
|
-16.5%
|
|
|
|
Total Costs and Expenses
|
|
|
173,712
|
|
|
|
169,966
|
|
|
|
2.2%
|
|
|
|
515,120
|
|
|
|
512,252
|
|
|
|
0.6%
|
|
|
|
EBITDA
|
|
|
86,460
|
|
|
|
78,509
|
|
|
|
10.1%
|
|
|
|
246,737
|
|
|
|
231,955
|
|
|
|
6.4%
|
|
|
|
% of Total Revenues
|
|
|
33.2%
|
|
|
|
31.6%
|
|
|
|
|
|
|
|
32.4%
|
|
|
|
31.2%
|
|
|
|
|
|
|
|
Depreciation & Amortization
|
|
|
41,394
|
|
|
|
40,454
|
|
|
|
2.3%
|
|
|
|
121,811
|
|
|
|
121,409
|
|
|
|
0.3%
|
|
|
|
EBIT
|
|
|
45,066
|
|
|
|
38,055
|
|
|
|
18.4%
|
|
|
|
124,926
|
|
|
|
110,546
|
|
|
|
13.0%
|
|
|
|
% of Total Revenues
|
|
|
17.3%
|
|
|
|
15.3%
|
|
|
|
|
|
|
|
16.4%
|
|
|
|
14.9%
|
|
|
|
|
|
|
|
Net Interest Expense
|
|
|
8,298
|
|
|
|
8,406
|
|
|
|
-1.3%
|
|
|
|
26,650
|
|
|
|
26,330
|
|
|
|
1.2%
|
|
|
|
Other Financial Expenses
|
|
|
6,572
|
|
|
|
-2,951
|
|
|
|
322.7%
|
|
|
|
-15,181
|
|
|
|
2,547
|
|
|
|
n.m.
|
|
|
|
Foreign Exchange Loss
|
|
|
7,511
|
|
|
|
6,877
|
|
|
|
9.2%
|
|
|
|
101,610
|
|
|
|
-3,539
|
|
|
|
n.m.
|
|
|
|
Comprehensive Financing Cost (Income)
|
|
|
22,381
|
|
|
|
12,333
|
|
|
|
81.5%
|
|
|
|
113,079
|
|
|
|
25,338
|
|
|
|
346.3%
|
|
|
|
Income & Deferred Taxes
|
|
|
2,169
|
|
|
|
11,431
|
|
|
|
-81.0%
|
|
|
|
-1,696
|
|
|
|
35,716
|
|
|
|
-104.7%
|
|
|
|
Net Income before Minority
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and Equity Participation in Results
of Affiliates
|
|
|
20,516
|
|
|
|
14,292
|
|
|
|
43.6%
|
|
|
|
13,542
|
|
|
|
49,491
|
|
|
|
-72.6%
|
|
|
|
Equity Participation in Results of Affiliates
|
|
|
1
|
|
|
|
-7
|
|
|
|
107.5%
|
|
|
|
-283
|
|
|
|
7
|
|
|
|
n.m.
|
|
|
|
Minority Interest
|
|
|
-1,655
|
|
|
|
-1,242
|
|
|
|
-33.3%
|
|
|
|
-3,718
|
|
|
|
-2,541
|
|
|
|
-46.3%
|
|
|
|
Net Income
|
|
|
18,861
|
|
|
|
13,043
|
|
|
|
44.6%
|
|
|
|
9,540
|
|
|
|
46,957
|
|
|
|
-79.7%
|
|
|
|
*Total revenues include Other Revenues,
n.m. Not meaningful.
Our operating profit shot up 18.4% to 45.1 billion pesos and was the driver of a 45% increase in our net income, which totaled 18.9 billion
pesos.
In cash flow terms, our net debt came down by 47.0 billion pesos over the nine months to September. In addition, we devoted
15 billion pesos to cover our pension-related commitments. Notwithstanding the above, our net debt (after leases) ended September 48.8 billion pesos higher than in December, at 726 billion. The increase in the amount outstanding in
peso terms is due solely to the impact of changes in foreign exchange rates on the non-peso debt, with the peso falling 12.4% vs. the U.S. dollar and 15.6% vs. the euro in relation to December 2019. At the end
of the month our net debt to EBITDA ratio stood at 1.88 times under IAS17, slightly less than at the end of June.
Our capital expenditures totaled
91.0 billion pesos in the period and were directed to securing adequate capacity in our networks and maintaining good quality of service.
Balance Sheet - América Móvil Consolidated Millions of Mexican Pesos
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sep 20
|
|
Dec 19
|
|
Var.%
|
|
|
|
|
Sep 20
|
|
Dec 19
|
|
Var.%
|
|
Current Assets
|
|
|
|
|
|
|
|
|
|
Current Liabilities
|
|
|
|
|
|
|
|
Cash, Marketable Securities & Other Short Term Investments
|
|
81,737
|
|
67,464
|
|
|
21.2%
|
|
|
Short Term Debt*
|
|
124,433
|
|
129,172
|
|
-3.7%
|
|
Accounts Receivable
|
|
232,187
|
|
211,532
|
|
|
9.8%
|
|
|
Lease-Related Debt
|
|
24,621
|
|
25,895
|
|
-4.9%
|
|
Other Current Assets
|
|
16,221
|
|
10,747
|
|
|
50.9%
|
|
|
Accounts Payable
|
|
247,853
|
|
268,484
|
|
-7.7%
|
|
Inventories
|
|
35,029
|
|
41,102
|
|
|
-14.8%
|
|
|
Other Current Liabilities
|
|
100,315
|
|
101,849
|
|
-1.5%
|
|
|
|
365,173
|
|
330,844
|
|
|
10.4%
|
|
|
|
|
497,221
|
|
525,400
|
|
-5.4%
|
|
Non Current Assets
|
|
|
|
|
|
|
|
|
|
Non Current Liabilities
|
|
|
|
|
|
|
|
Plant & Equipment, gross
|
|
1,366,504
|
|
1,319,588
|
|
|
3.6%
|
|
|
Long Term Debt
|
|
566,730
|
|
495,082
|
|
14.5%
|
|
-Depreciation
|
|
724,277
|
|
680,244
|
|
|
6.5%
|
|
|
Lease-Related Debt
|
|
92,102
|
|
94,702
|
|
-2.7%
|
|
Plant & Equipment, net
|
|
642,227
|
|
639,343
|
|
|
0.5%
|
|
|
Other Non Current Liabilities
|
|
199,476
|
|
189,843
|
|
5.1%
|
|
Rights of Use
|
|
110,880
|
|
118,003
|
|
|
-6.0%
|
|
|
|
|
858,308
|
|
779,627
|
|
10.1%
|
|
Investments in Affiliates
|
|
1,838
|
|
2,474
|
|
|
-25.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill (Net)
|
|
150,366
|
|
152,900
|
|
|
-1.7%
|
|
|
|
|
|
|
|
|
|
|
Intangible Assets
|
|
136,311
|
|
125,169
|
|
|
8.9%
|
|
|
Shareholders Equity
|
|
228,840
|
|
226,907
|
|
0.9%
|
|
Deferred Assets
|
|
177,573
|
|
163,199
|
|
|
8.8%
|
|
|
|
|
|
|
|
|
|
|
Total Assets
|
|
1,584,369
|
|
1,531,934
|
|
|
3.4%
|
|
|
Total Liabilities and Equity
|
|
1,584,369
|
|
1,531,934
|
|
3.4%
|
|
*Includes current portion of Long Term Debt.
Financial Debt of América Móvil*
Millions
|
|
|
|
|
|
|
|
|
|
|
|
|
Sep -20
|
|
|
Dec -19
|
|
|
|
Peso - denominated debt (MxP)
|
|
|
66,511
|
|
|
|
80,129
|
|
|
|
Bonds
|
|
|
51,241
|
|
|
|
58,129
|
|
|
|
Banks and others
|
|
|
15,270
|
|
|
|
22,000
|
|
|
|
U.S. Dollar - denominated debt (USD)
|
|
|
10,263
|
|
|
|
9,472
|
|
|
|
Bonds
|
|
|
9,351
|
|
|
|
8,975
|
|
|
|
Banks and others
|
|
|
912
|
|
|
|
497
|
|
|
|
Euro - denominated Debt (EUR)
|
|
|
9,700
|
|
|
|
11,165
|
|
|
|
Bonds
|
|
|
8,100
|
|
|
|
10,942
|
|
|
|
Commercial Paper
|
|
|
1,600
|
|
|
|
123
|
|
|
|
Banks and others
|
|
|
0
|
|
|
|
100
|
|
|
|
Sterling - denominated Debt (GBP)
|
|
|
2,200
|
|
|
|
2,750
|
|
|
|
Bonds
|
|
|
2,200
|
|
|
|
2,750
|
|
|
|
Reais - denominated Debt (BRL)
|
|
|
9,975
|
|
|
|
7,475
|
|
|
|
Bonds
|
|
|
9,975
|
|
|
|
7,475
|
|
|
|
Banks and others
|
|
|
0
|
|
|
|
0
|
|
|
|
Debt denominated in other currencies(1)
(MxP)
|
|
|
35,299
|
|
|
|
26,045
|
|
|
|
Bonds
|
|
|
6,858
|
|
|
|
5,818
|
|
|
|
Banks and others
|
|
|
28,441
|
|
|
|
20,227
|
|
|
|
Total Debt (MxP)
|
|
|
691,162
|
|
|
|
624,254
|
|
|
|
Cash, Marketable Securities and Short Term Financial Investments (MxP)
|
|
|
81,737
|
|
|
|
67,464
|
|
|
|
Net Debt (MxP)
|
|
|
609,425
|
|
|
|
556,790
|
|
|
|
*This table does not include the effect of forwards and derivatives used to hedge
our foreign exchange exposure. It includes financial debt of Telekom Austria.
(1)Includes Peruvian soles and Chilean pesos.
Mexico
We added 1.2 million wireless subscribers
in the second quartersubstantially all of them prepaid clients reverting most of the subscriber losses observed in the second quarter as confinement restrictions were relaxed and we resumed more forcefully our commercial activity.
Prepaid churn came down by nearly one percentage point from the prior quarter. On the fixed-line platform we added 117 thousand broadband clients twice as many as in the second quarter, supported by our alliances with OTT providers.
Our Mexican revenues totaled 73.2 billion pesos, up 0.4% from the year before, with service revenues declining slightly, -0.7%, an improvement on the -2.1% year-on-year reduction observed the prior quarter.
Mobile service revenues declined 0.6%, improving on their -2.5% pace of the second quarter. The recovery of
Mexican mobile revenues was wholly driven by the bounce in prepaid revenues, which went from a -3.8% pace in the second quarter to +1.1% in the third.
Similarly, fixed-line service revenues came down 1.0% year-on-year in
the third quarter, having fallen 1.4% the previous one. There were important advances both on fixed-broadband servicestheir expansion moved up from 1.8% in the second quarter to 6.0%and in corporate networks, overcoming a 3.3% fall in
the second quarter to a +2.2% increase in the third quarter. Losses in fixed-line voice revenues determined that revenues on that platform continued to decline.
EBITDA expanded 1.3% in the third quarter helped along by the improvement in revenues, recovering from a 10.3% year-on-year plunge in the second quarter. The EBITDA margin was slightly higher, 37.6%, on the relative normalization of commercial activities and associated expenses.
INCOME STATEMENT -
Mexico Millions of MxP
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19(1)
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19(1)
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
73,187
|
|
|
|
72,926
|
|
|
|
0.4%
|
|
|
|
209,253
|
|
|
|
213,473
|
|
|
|
-2.0%
|
|
|
|
Total Service Revenues
|
|
|
52,992
|
|
|
|
53,377
|
|
|
|
-0.7%
|
|
|
|
159,511
|
|
|
|
157,553
|
|
|
|
1.2%
|
|
|
|
Wireless Revenues
|
|
|
54,031
|
|
|
|
52,699
|
|
|
|
2.5%
|
|
|
|
150,522
|
|
|
|
151,936
|
|
|
|
-0.9%
|
|
|
|
Service Revenues
|
|
|
34,378
|
|
|
|
34,569
|
|
|
|
-0.6%
|
|
|
|
102,787
|
|
|
|
100,462
|
|
|
|
2.3%
|
|
|
|
Equipment Revenues
|
|
|
19,653
|
|
|
|
18,130
|
|
|
|
8.4%
|
|
|
|
47,734
|
|
|
|
51,474
|
|
|
|
-7.3%
|
|
|
|
Fixed Line Revenues
|
|
|
18,705
|
|
|
|
19,539
|
|
|
|
-4.3%
|
|
|
|
57,173
|
|
|
|
59,608
|
|
|
|
-4.1%
|
|
|
|
EBITDA
|
|
|
27,525
|
|
|
|
27,178
|
|
|
|
1.3%
|
|
|
|
79,717
|
|
|
|
79,219
|
|
|
|
0.6%
|
|
|
|
% total revenues
|
|
|
37.6%
|
|
|
|
37.3%
|
|
|
|
|
|
|
|
38.1%
|
|
|
|
37.1%
|
|
|
|
|
|
|
|
EBIT
|
|
|
19,819
|
|
|
|
18,431
|
|
|
|
7.5%
|
|
|
|
56,511
|
|
|
|
53,008
|
|
|
|
6.6%
|
|
|
|
%
|
|
|
27.1%
|
|
|
|
25.3%
|
|
|
|
|
|
|
|
27.0%
|
|
|
|
24.8%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
(1)2019 reflects reclassifications of other
revenues.
Mexico Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
76,563
|
|
|
|
76,150
|
|
|
|
0.5%
|
|
|
|
Postpaid
|
|
|
14,485
|
|
|
|
14,107
|
|
|
|
2.7%
|
|
|
|
Prepaid
|
|
|
62,077
|
|
|
|
62,043
|
|
|
|
0.1%
|
|
|
|
MOU
|
|
|
561
|
|
|
|
530
|
|
|
|
5.7%
|
|
|
|
ARPU (MxP)
|
|
|
152
|
|
|
|
152
|
|
|
|
-0.6%
|
|
|
|
Churn (%)
|
|
|
3.3%
|
|
|
|
4.2%
|
|
|
|
-0.8%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
22,011
|
|
|
|
22,158
|
|
|
|
-0.7%
|
|
|
|
Fixed Lines
|
|
|
12,032
|
|
|
|
12,448
|
|
|
|
-3.3%
|
|
|
|
Broadband
|
|
|
9,978
|
|
|
|
9,710
|
|
|
|
2.8%
|
|
|
|
*Fixed Line and Broadband.
Argentina
For comparison purposes all
comments in this section related to annual variations of the presented period for Argentina refer to figures in constant peso terms, that is, adjusted for inflation in accordance to NIC 29. Information for Uruguay and Paraguay is not presented in
the table.
Telecommunication services have been considered essential services by presidential decree beginning in
August; as such, we have been forbidden to raise prices for our services for the remainder of 2020.
Third quarter revenues declined 9.6% in real
terms (after inflation) from the year-earlier quarter with service revenues falling 9.4%. Mobile service revenues came down 12.0% as subscribers curtailed their usage or disconnected lines as disposable income contracted and unemployment rates
increased on account of lockdown measures that were prolonged through September. The impact was more hardly felt on the postpaid segment where revenues declined 13.0%; prepaid revenues declined 7.7%. Fixed-line service revenues rose 13.9% from a
small base driven by broadband revenue growth of 22.7% and PayTV revenues that increased 164.4%.
Third quarter EBITDA was down 9.1% year-on-year and the EBITDA margin stayed roughly flat at 41.6%. Given the current conditions, we have made extraordinary efforts to contain costs and thrive in an
inflationary environment. As a result of strict cost controls we were able to post a sequential increase in EBITDA of 8.6% in spite a 7.2% plunge in service revenues. The sequential increase in the EBITDA margin was 3.5 percentage points.
INCOME STATEMENT - Argentina
Millions of Constant ARS of September 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
27,630
|
|
|
|
30,578
|
|
|
|
-9.6%
|
|
|
|
84,192
|
|
|
|
92,778
|
|
|
|
-9.3%
|
|
|
|
Total Service Revenues
|
|
|
22,620
|
|
|
|
24,976
|
|
|
|
-9.4%
|
|
|
|
70,759
|
|
|
|
75,289
|
|
|
|
-6.0%
|
|
|
|
Wireless Revenues
|
|
|
24,664
|
|
|
|
28,091
|
|
|
|
-12.2%
|
|
|
|
75,648
|
|
|
|
85,448
|
|
|
|
-11.5%
|
|
|
|
Service Revenues
|
|
|
19,853
|
|
|
|
22,548
|
|
|
|
-12.0%
|
|
|
|
62,737
|
|
|
|
68,156
|
|
|
|
-8.0%
|
|
|
|
Equipment Revenues
|
|
|
4,810
|
|
|
|
5,542
|
|
|
|
-13.2%
|
|
|
|
12,912
|
|
|
|
17,293
|
|
|
|
-25.3%
|
|
|
|
Fixed Line Revenues
|
|
|
2,766
|
|
|
|
2,428
|
|
|
|
13.9%
|
|
|
|
8,022
|
|
|
|
7,134
|
|
|
|
12.5%
|
|
|
|
EBITDA
|
|
|
11,500
|
|
|
|
12,652
|
|
|
|
-9.1%
|
|
|
|
32,891
|
|
|
|
38,490
|
|
|
|
-14.5%
|
|
|
|
% total revenues
|
|
|
41.6%
|
|
|
|
41.4%
|
|
|
|
|
|
|
|
39.1%
|
|
|
|
41.5%
|
|
|
|
|
|
|
|
EBIT
|
|
|
8,803
|
|
|
|
9,886
|
|
|
|
-11.0%
|
|
|
|
25,370
|
|
|
|
31,080
|
|
|
|
-18.4%
|
|
|
|
%
|
|
|
31.9%
|
|
|
|
32.3%
|
|
|
|
|
|
|
|
30.1%
|
|
|
|
33.5%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
Argentina
Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)(1)
|
|
|
21,295
|
|
|
|
21,885
|
|
|
|
-2.7%
|
|
|
|
Postpaid
|
|
|
8,394
|
|
|
|
8,418
|
|
|
|
-0.3%
|
|
|
|
Prepaid
|
|
|
12,901
|
|
|
|
13,467
|
|
|
|
-4.2%
|
|
|
|
MOU
|
|
|
94
|
|
|
|
77
|
|
|
|
21.0%
|
|
|
|
ARPU (ARP)
|
|
|
302
|
|
|
|
240
|
|
|
|
26.0%
|
|
|
|
Churn (%)
|
|
|
2.0%
|
|
|
|
1.8%
|
|
|
|
0.2%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
1067
|
|
|
|
695
|
|
|
|
53.6%
|
|
|
|
*Fixed Line, Broadband and Television.
(1)Hybrid subscribers are now included in our postpaid figures.
Brazil
In the third quarter we added 1.8 million
postpaid subscribersone of our best quarters in terms of net additionsand lost 321 thousand prepaid subscribers on the mobile platform. On the fixed-line one, we gained 62 thousand broadband accesses and lost 209 thousand
PayTV clients and 162 thousand voice lines.
Third quarter revenues were up 1.1% from the year-earlier quarter to 9.8 billion reais, with
service revenues roughly flat, 0.3%, as mobile service revenues rose 8.1% and fixed-line revenues came down 5.1%.
Mobile service revenues were
buoyed by the strong recovery of prepaid revenues, from -1.0% in the second quarter to +5.1% in the third, and by continued strong performance of postpaid revenues, up 9.0% in the quarter.
Mobile ARPU rose 25.7% on the back of a 50% increase in consumption of data services per client and 19.8% in voice services (MOUs) which also increased
significantly.
On the fixed-line platform broadband revenues continued growing along their trend lineat 9.9% they were expanding at the same
pace as in the second quarterbut the down-trend on PayTV revenues accelerated to -13.6% from -11.7% the precedent quarter along with the reduction of PayTV
accesses.
EBITDA increased 6.1% year-on-year in the third quarter
and nearly reached four billion reais, as the EBITDA margin topped 40% for the second consecutive quarter; it was up 1.9 percentage points higher than a year before.
INCOME STATEMENT - Brazil Proforma Millions of BrL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
9,790
|
|
|
|
9,681
|
|
|
|
1.1%
|
|
|
|
29,117
|
|
|
|
28,706
|
|
|
|
1.4%
|
|
|
|
Total Service Revenues
|
|
|
9,423
|
|
|
|
9,398
|
|
|
|
0.3%
|
|
|
|
28,277
|
|
|
|
27,852
|
|
|
|
1.5%
|
|
|
|
Wireless Revenues
|
|
|
4,467
|
|
|
|
4,062
|
|
|
|
10.0%
|
|
|
|
12,969
|
|
|
|
11,820
|
|
|
|
9.7%
|
|
|
|
Service Revenues
|
|
|
4,117
|
|
|
|
3,809
|
|
|
|
8.1%
|
|
|
|
12,168
|
|
|
|
11,021
|
|
|
|
10.4%
|
|
|
|
Equipment Revenues
|
|
|
350
|
|
|
|
253
|
|
|
|
38.4%
|
|
|
|
801
|
|
|
|
799
|
|
|
|
0.3%
|
|
|
|
Fixed Line Revenues
|
|
|
5,306
|
|
|
|
5,590
|
|
|
|
-5.1%
|
|
|
|
16,109
|
|
|
|
16,831
|
|
|
|
-4.3%
|
|
|
|
EBITDA
|
|
|
3,943
|
|
|
|
3,716
|
|
|
|
6.1%
|
|
|
|
11,469
|
|
|
|
10,614
|
|
|
|
8.1%
|
|
|
|
% total revenues
|
|
|
40.3%
|
|
|
|
38.4%
|
|
|
|
|
|
|
|
39.4%
|
|
|
|
37.0%
|
|
|
|
|
|
|
|
EBIT
|
|
|
1,554
|
|
|
|
1,496
|
|
|
|
3.9%
|
|
|
|
4,554
|
|
|
|
4,131
|
|
|
|
10.2%
|
|
|
|
%
|
|
|
15.9%
|
|
|
|
15.4%
|
|
|
|
|
|
|
|
15.6%
|
|
|
|
14.4%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
Brazil
Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
60,005
|
|
|
|
56,451
|
|
|
|
6.3%
|
|
|
|
Postpaid
|
|
|
33,658
|
|
|
|
26,243
|
|
|
|
28.3%
|
|
|
|
Prepaid
|
|
|
26,348
|
|
|
|
30,207
|
|
|
|
-12.8%
|
|
|
|
MOU(1)
|
|
|
190
|
|
|
|
159
|
|
|
|
19.8%
|
|
|
|
ARPU (BrL)
|
|
|
24
|
|
|
|
19
|
|
|
|
25.7%
|
|
|
|
Churn (%)
|
|
|
4.7%
|
|
|
|
4.2%
|
|
|
|
0.5%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
32,952
|
|
|
|
34,448
|
|
|
|
-4.3%
|
|
|
|
*Fixed Line, Broadband and Television.
(1)We modified the methodology for calculating MOUs. We no
longer include M2M subscribers.
Colombia
Our wireless subscriber base topped
32 million clients at the end of September after net additions of 489 thousand in the quarter, the highest in at least a year. Postpaid net additions totaled 142 thousand and prepaid gains 347 thousand subscribers.
There was a sharp acceleration in fixed-broadband accesses with net gains of 122 thousand clients, more than three times as many as in the
year-earlier quarter. PayTV accesses were also on the rise, reaching 41 thousand.
Revenues totaled 3.4 trillion Colombian pesos, 3.0% more
than a year before, with service revenues rising 9.2%, in line with the pace recorded prior to the pandemic. It was our only operation that presented revenue growth in both the mobile and the fixed-line platforms.
Mobile service revenues were up 8.3% showing a marked recovery from the second quarter in both prepaid and postpaidthe former went from 7.5% to
12.1% whereas the latter moved up from 3.5% to 6.3%as the lockdown measures eased and the economy resumed its course. ARPU was up 3.6% compared to the same period of the prior year with data usage per client rising 36%.
Fixed-line service revenues increased 10.6% year-on-year on the back of
broadband revenues that expanded 16.1%, as the increase in demand for such services brought about by the lockdown measures continued to come through in the third quarter. PayTV, which is typically bundled with broadband services, showed similar
trends, rising 10.3% in the period. On corporate networks, we also observed solid revenue growth, 12.3%.
As revenues recovered, EBITDA rose 3.4%
relative to the prior year to 1.5 trillion Colombian pesos, with the margin, at 43.4%, slightly higher in spite of the greater commercial activity.
INCOME STATEMENT - Colombia Billions of COP
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
3,368
|
|
|
|
3,269
|
|
|
|
3.0%
|
|
|
|
9,729
|
|
|
|
9,302
|
|
|
|
4.6%
|
|
|
|
Total Service Revenues
|
|
|
2,687
|
|
|
|
2,462
|
|
|
|
9.2%
|
|
|
|
7,833
|
|
|
|
7,219
|
|
|
|
8.5%
|
|
|
|
Wireless Revenues
|
|
|
2,300
|
|
|
|
2,293
|
|
|
|
0.3%
|
|
|
|
6,654
|
|
|
|
6,452
|
|
|
|
3.1%
|
|
|
|
Service Revenues
|
|
|
1,654
|
|
|
|
1,528
|
|
|
|
8.3%
|
|
|
|
4,828
|
|
|
|
4,488
|
|
|
|
7.6%
|
|
|
|
Equipment Revenues
|
|
|
646
|
|
|
|
766
|
|
|
|
-15.6%
|
|
|
|
1,826
|
|
|
|
1,964
|
|
|
|
-7.1%
|
|
|
|
Fixed Line Revenues
|
|
|
1,036
|
|
|
|
962
|
|
|
|
7.7%
|
|
|
|
3,016
|
|
|
|
2,794
|
|
|
|
8.0%
|
|
|
|
EBITDA
|
|
|
1,461
|
|
|
|
1,413
|
|
|
|
3.4%
|
|
|
|
4,173
|
|
|
|
4,051
|
|
|
|
3.0%
|
|
|
|
%
|
|
|
43.4%
|
|
|
|
43.2%
|
|
|
|
|
|
|
|
42.9%
|
|
|
|
43.5%
|
|
|
|
|
|
|
|
EBIT
|
|
|
841
|
|
|
|
838
|
|
|
|
0.3%
|
|
|
|
2,383
|
|
|
|
2,334
|
|
|
|
2.1%
|
|
|
|
%
|
|
|
25.0%
|
|
|
|
25.6%
|
|
|
|
|
|
|
|
24.5%
|
|
|
|
25.1%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
Colombia
Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers* (thousands)
|
|
|
32,024
|
|
|
|
30,577
|
|
|
|
4.7%
|
|
|
|
Postpaid
|
|
|
7,564
|
|
|
|
7,249
|
|
|
|
4.3%
|
|
|
|
Prepaid
|
|
|
24,460
|
|
|
|
23,328
|
|
|
|
4.9%
|
|
|
|
MOU(1)
|
|
|
336
|
|
|
|
279
|
|
|
|
20.4%
|
|
|
|
ARPU (COP)
|
|
|
17,509
|
|
|
|
16,897
|
|
|
|
3.6%
|
|
|
|
Churn (%)
|
|
|
4.7%
|
|
|
|
4.6%
|
|
|
|
0.1%
|
|
|
|
Revenue Generating Units (RGUs)**
|
|
|
8,155
|
|
|
|
7,555
|
|
|
|
7.9%
|
|
|
|
*Due to differences in the policy for accounting active subscribers, the figures
in this report are different from those published by the Ministry of Communications of Colombia (MinTIC).**Fixed Line, Broadband and Television.
(1)We modified the methodology for calculating MOUs. We no
longer include M2M subscribers.
Chile
Third quarter revenues of 192.7 billion
Chilean pesos were down 6.6% on an annual basis with service revenues declining 7.2%compared to 7.0% in the prior quarterand equipment revenues declining 4.4%.
Mobile service revenues declined 9.0% in the third quarter. In the prepaid segment revenues were down 14.7%, which marked a sequential improvement from
the 31.8% decline observed the prior quarter. But in postpaid, revenues dropped 8.3% exacerbating the contraction that began in the second quarter mostly as a result of the pandemic, in particular due to the poor performance of SMEs that had to
materially reduce or cancel the services altogether. In spite of the tough conditions generated by the sanitary crisis, we continued to observe aggressive promotional activity in Chile.
Fixed-line service revenues were down 4.9%, an improvement over the 9.4% reduction observed the prior quarter with fixed-broadband revenues increasing
10.2%, slightly faster than in the second quarter. Even as mandatory lockdown has been relaxed for the vast majority of the population, students are still homeschooling and companies still have an important proportion of employees working from home
which has accelerated the demand for broadband services.
EBITDA declined 13.5%
year-on-year to 40.5 billion pesos on account of the reduction in revenues.
INCOME STATEMENT - Chile Millions of ChPL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19(1)
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19(1)
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
192,679
|
|
|
|
206,234
|
|
|
|
-6.6%
|
|
|
|
574,382
|
|
|
|
623,953
|
|
|
|
-7.9%
|
|
|
|
Total Service Revenues
|
|
|
158,644
|
|
|
|
170,876
|
|
|
|
-7.2%
|
|
|
|
482,848
|
|
|
|
511,037
|
|
|
|
-5.5%
|
|
|
|
Wireless Revenues
|
|
|
119,422
|
|
|
|
129,460
|
|
|
|
-7.8%
|
|
|
|
357,133
|
|
|
|
393,118
|
|
|
|
-9.2%
|
|
|
|
Service Revenues
|
|
|
85,693
|
|
|
|
94,193
|
|
|
|
-9.0%
|
|
|
|
266,268
|
|
|
|
281,574
|
|
|
|
-5.4%
|
|
|
|
Equipment Revenues
|
|
|
33,729
|
|
|
|
35,268
|
|
|
|
-4.4%
|
|
|
|
90,865
|
|
|
|
111,544
|
|
|
|
-18.5%
|
|
|
|
Fixed Line Revenues
|
|
|
72,951
|
|
|
|
76,683
|
|
|
|
-4.9%
|
|
|
|
216,580
|
|
|
|
229,463
|
|
|
|
-5.6%
|
|
|
|
EBITDA
|
|
|
40,513
|
|
|
|
46,855
|
|
|
|
-13.5%
|
|
|
|
122,693
|
|
|
|
131,510
|
|
|
|
-6.7%
|
|
|
|
% total revenues
|
|
|
21.0%
|
|
|
|
22.7%
|
|
|
|
|
|
|
|
21.4%
|
|
|
|
21.1%
|
|
|
|
|
|
|
|
EBIT
|
|
|
-12,236
|
|
|
|
-37,415
|
|
|
|
67.3%
|
|
|
|
-38,739
|
|
|
|
-85,952
|
|
|
|
54.9%
|
|
|
|
%
|
|
|
-6.4%
|
|
|
|
-18.1%
|
|
|
|
|
|
|
|
-6.7%
|
|
|
|
-13.8%
|
|
|
|
|
|
|
|
*Revenues reflect
eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions.
Total revenues include other income.
(1)2019 reflects restatements of fixed and mobile revenues.
Chile Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
6,505
|
|
|
|
6,779
|
|
|
|
-4.0%
|
|
|
|
Postpaid
|
|
|
2,282
|
|
|
|
2,242
|
|
|
|
1.8%
|
|
|
|
Prepaid
|
|
|
4,223
|
|
|
|
4,537
|
|
|
|
-6.9%
|
|
|
|
MOU
|
|
|
190
|
|
|
|
168
|
|
|
|
13.4%
|
|
|
|
ARPU (ChP)
|
|
|
4,777
|
|
|
|
5,161
|
|
|
|
-7.5%
|
|
|
|
Churn (%)
|
|
|
7.5%
|
|
|
|
6.0%
|
|
|
|
1.5%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
1,391
|
|
|
|
1,418
|
|
|
|
-1.9%
|
|
|
|
*Fixed Line, Broadband and Television.
Ecuador
In the third quarter we added 314 thousand
prepaid subscribers but disconnected 370 thousand postpaid clients to finish September with 7.8 million wireless subscribers.
Our third
quarter revenues were down 18.5% from the year-earlier quarter to 266 million dollars with service revenues declining 10.0% and equipment revenues plummeting 64.0% as commercial activity remained subdued. Service revenues on the mobile segment
fell 12.1% compared to -18.9% in the second quarter as prepaid revenues recovered following the relaxation of lockdown measures: although still down 12.3% year-on-year, that was an improvement relative to the 27.5% observed in the second quarter. Postpaid revenues carried forward to the third quarter their 12% annual rate of decline.
Fixed-line service revenues, albeit at 10% still a small share of service revenues, were up 14.7% supported by broadband revenues that increased 23.3%.
We continued working on adjusting our cost structure and were able to lift our EBITDA margin by 6.2 percentage points relative to the year-earlier
quarter to 49.8% of revenues. Nonetheless, at 133 million dollars our EBITDA was down 6.9%.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME STATEMENT - Ecuador Millions of
Dollars
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
266
|
|
|
|
327
|
|
|
|
-18.5%
|
|
|
|
815
|
|
|
|
987
|
|
|
|
-17.4%
|
|
|
|
Total Service Revenues
|
|
|
248
|
|
|
|
275
|
|
|
|
-10.0%
|
|
|
|
743
|
|
|
|
826
|
|
|
|
-10.0%
|
|
|
|
Wireless Revenues
|
|
|
239
|
|
|
|
304
|
|
|
|
-21.2%
|
|
|
|
736
|
|
|
|
917
|
|
|
|
-19.7%
|
|
|
|
Service Revenues
|
|
|
222
|
|
|
|
253
|
|
|
|
-12.1%
|
|
|
|
668
|
|
|
|
761
|
|
|
|
-12.2%
|
|
|
|
Equipment Revenues
|
|
|
17
|
|
|
|
51
|
|
|
|
-66.2%
|
|
|
|
68
|
|
|
|
156
|
|
|
|
-56.3%
|
|
|
|
Fixed Line Revenues
|
|
|
27
|
|
|
|
23
|
|
|
|
16.4%
|
|
|
|
79
|
|
|
|
69
|
|
|
|
15.5%
|
|
|
|
EBITDA
|
|
|
133
|
|
|
|
143
|
|
|
|
-6.9%
|
|
|
|
383
|
|
|
|
427
|
|
|
|
-10.2%
|
|
|
|
% total revenues
|
|
|
49.8%
|
|
|
|
43.6%
|
|
|
|
|
|
|
|
47.0%
|
|
|
|
43.2%
|
|
|
|
|
|
|
|
EBIT
|
|
|
78
|
|
|
|
86
|
|
|
|
-9.9%
|
|
|
|
217
|
|
|
|
256
|
|
|
|
-15.5%
|
|
|
|
%
|
|
|
29.2%
|
|
|
|
26.5%
|
|
|
|
|
|
|
|
26.6%
|
|
|
|
26.0%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
|
|
|
|
|
|
|
|
|
|
|
|
|
Ecuador Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
7,822
|
|
|
|
8,422
|
|
|
|
-7.1%
|
|
|
|
Postpaid
|
|
|
2,179
|
|
|
|
2,672
|
|
|
|
-18.5%
|
|
|
|
Prepaid
|
|
|
5,643
|
|
|
|
5,750
|
|
|
|
-1.9%
|
|
|
|
MOU
|
|
|
436
|
|
|
|
447
|
|
|
|
-2.5%
|
|
|
|
ARPU (US$)
|
|
|
10
|
|
|
|
10
|
|
|
|
-5.6%
|
|
|
|
Churn (%)
|
|
|
4.4%
|
|
|
|
4.3%
|
|
|
|
0.1%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
446
|
|
|
|
431
|
|
|
|
3.5%
|
|
|
|
*Fixed Line, Broadband and Television.
Peru
We obtained net additions of 237 thousand
prepaid subscribers and disconnected 72 thousand postpaid clients in the third quarter. Fixed-line RGUs increased by 81 thousand new units including 70 thousand broadband connections. RGUs were up 13.3% annually to 1.8 million.
Revenues declined 3.6% in the third quarter, compared to -17.7% in the prior one. The improvement came from
equipment revenues that went from minus 76.4% in the second quarter to -23.1% in the current period.
Mobile
service revenues remained flat as compared to last year with a very different trend in the segments: In prepaid, service revenue growth accelerated to 9.7% as a result of subscriber growth and ARPU improvement, whereas in postpaid revenues continued
to decelerate, declining -3.9% from +1.6% in the second quarter. The economic conditions have forced some clients to move to prepaid, including the smaller businesses.
Fixed-line service revenues increased 17.6%, up from 11.0% in the second quarter, on the back of residential broadband services. We have seen broadband
revenue growth accelerate for six quarters in a row to 42.3% (32.9% growth in the precedent quarter).
EBITDA was up 10.2% year-over-year to
435 million soles, with the EBITDA margin, 34.5%, rising 4.3 percentage points from a year before. The improvement in EBITDA is the result of cost control efforts, lower handset subsidies and fixed-line service revenue growth.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME STATEMENT - Peru
Millions of Soles
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
1,260
|
|
|
|
1,307
|
|
|
|
-3.6%
|
|
|
|
3,593
|
|
|
|
3,832
|
|
|
|
-6.2%
|
|
|
|
Total Service Revenues
|
|
|
976
|
|
|
|
940
|
|
|
|
3.8%
|
|
|
|
2,904
|
|
|
|
2,788
|
|
|
|
4.2%
|
|
|
|
Wireless Revenues
|
|
|
1,006
|
|
|
|
1,091
|
|
|
|
-7.7%
|
|
|
|
2,876
|
|
|
|
3,177
|
|
|
|
-9.5%
|
|
|
|
Service Revenues
|
|
|
729
|
|
|
|
730
|
|
|
|
-0.1%
|
|
|
|
2,201
|
|
|
|
2,161
|
|
|
|
1.8%
|
|
|
|
Equipment Revenues
|
|
|
277
|
|
|
|
361
|
|
|
|
-23.1%
|
|
|
|
676
|
|
|
|
1,016
|
|
|
|
-33.5%
|
|
|
|
Fixed Line Revenues
|
|
|
247
|
|
|
|
210
|
|
|
|
17.6%
|
|
|
|
704
|
|
|
|
627
|
|
|
|
12.2%
|
|
|
|
EBITDA
|
|
|
435
|
|
|
|
395
|
|
|
|
10.2%
|
|
|
|
1,226
|
|
|
|
1,101
|
|
|
|
114%
|
|
|
|
% total revenues
|
|
|
34.5%
|
|
|
|
30.2%
|
|
|
|
|
|
|
|
34.1%
|
|
|
|
28.7%
|
|
|
|
|
|
|
|
EBIT
|
|
|
167
|
|
|
|
129
|
|
|
|
29.6%
|
|
|
|
435
|
|
|
|
354
|
|
|
|
22.9%
|
|
|
|
%
|
|
|
13.2%
|
|
|
|
9.8%
|
|
|
|
|
|
|
|
12.1%
|
|
|
|
9.2%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
|
|
|
|
|
|
|
|
|
|
|
|
|
Peru Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
10,552
|
|
|
|
11,623
|
|
|
|
-9.2%
|
|
|
|
Postpaid
|
|
|
3,992
|
|
|
|
4,090
|
|
|
|
-2.4%
|
|
|
|
Prepaid
|
|
|
6,560
|
|
|
|
7,533
|
|
|
|
-12.9%
|
|
|
|
MOU
|
|
|
433
|
|
|
|
270
|
|
|
|
60.1%
|
|
|
|
ARPU (Sol)
|
|
|
23
|
|
|
|
21
|
|
|
|
11.5%
|
|
|
|
Churn (%)
|
|
|
3.6%
|
|
|
|
5.2%
|
|
|
|
-1.6%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
1,787
|
|
|
|
1,578
|
|
|
|
13.3%
|
|
|
|
*Fixed Line, Broadband and Television.
Central America
In the third quarter we gained 89 thousand prepaid subscribers and disconnected 97 thousand postpaid subscribers. On the fixed-line segment we
had disconnections of 152 thousand units in the quarter, most of them voice lines.
Disconnections of postpaid subscribers and fixed-line RGUs
stemmed from the decision of subscribers to cancel their services after the measures imposed at the beginning of the sanitary crisis in most Central American markets that prohibited us to disconnect any line in absence of payment were lifted in the
months of July and August. Subscribers were supposed to cover the balance due in installments.
This was reflected in total revenues that posted a
9.4% year-on-year decline, to 552 million dollars. Service revenues were down 5.4% and equipment revenues 36.4%. On the mobile platform service revenues declined
6.9% with postpaid revenues off 9.6% (from -3.8% the prior quarter) and prepaid revenues 4.4%. On the fixed-line segment service revenues were 2.6% lower than a year before with broadband being the only
business line that saw revenue expansion, 5.8%, over the year.
EBITDA came in at 221 million dollars, 4.5% below that of the year-earlier
quarter. We managed to increase our EBITDA margin by 2.1 percentage points relative to last year, to 40.1% of revenues, on the back of efficiency gains.
INCOME STATEMENT - Central America Proforma Millions of Dollars
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19(1)
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19(1)
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
552
|
|
|
|
609
|
|
|
|
-9.4%
|
|
|
|
1,668
|
|
|
|
1,825
|
|
|
|
-8.6%
|
|
|
|
Total Service Revenues
|
|
|
498
|
|
|
|
526
|
|
|
|
-5.4%
|
|
|
|
1,500
|
|
|
|
1,573
|
|
|
|
-4.6%
|
|
|
|
Wireless Revenues
|
|
|
365
|
|
|
|
414
|
|
|
|
-11.9%
|
|
|
|
1,103
|
|
|
|
1,240
|
|
|
|
-11.0%
|
|
|
|
Service Revenues
|
|
|
320
|
|
|
|
343
|
|
|
|
-6.9%
|
|
|
|
963
|
|
|
|
1,023
|
|
|
|
-5.9%
|
|
|
|
Equipment Revenues
|
|
|
45
|
|
|
|
71
|
|
|
|
-36.2%
|
|
|
|
141
|
|
|
|
217
|
|
|
|
-35.0%
|
|
|
|
Fixed Line Revenues
|
|
|
183
|
|
|
|
190
|
|
|
|
-4.0%
|
|
|
|
554
|
|
|
|
571
|
|
|
|
-3.0%
|
|
|
|
EBITDA
|
|
|
221
|
|
|
|
232
|
|
|
|
-4.5%
|
|
|
|
651
|
|
|
|
684
|
|
|
|
-4.9%
|
|
|
|
% total revenues
|
|
|
40.1%
|
|
|
|
38.0%
|
|
|
|
|
|
|
|
39.0%
|
|
|
|
37.5%
|
|
|
|
|
|
|
|
EBIT
|
|
|
55
|
|
|
|
89
|
|
|
|
-38.8%
|
|
|
|
195
|
|
|
|
252
|
|
|
|
-22.8%
|
|
|
|
%
|
|
|
9.9%
|
|
|
|
14.7%
|
|
|
|
|
|
|
|
11.7%
|
|
|
|
13.8%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
(1)2019 figures were restated for IFRS 16.
Central America Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
14,533
|
|
|
|
15,290
|
|
|
|
-4.9%
|
|
|
|
Postpaid
|
|
|
2,362
|
|
|
|
2,508
|
|
|
|
-5.8%
|
|
|
|
Prepaid
|
|
|
12,171
|
|
|
|
12,782
|
|
|
|
-4.8%
|
|
|
|
MOU(1)
|
|
|
194
|
|
|
|
166
|
|
|
|
17.1%
|
|
|
|
ARPU (US$)
|
|
|
8
|
|
|
|
8
|
|
|
|
-0.7%
|
|
|
|
Churn (%)
|
|
|
6.3%
|
|
|
|
6.8%
|
|
|
|
-0.5%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
4,227
|
|
|
|
4,385
|
|
|
|
-3.6%
|
|
|
|
*Fixed Line, Broadband and Television. Figures have been adjusted in accordance
with the methodolgy used for all AMX operations.
(1)We modified the methodology for calculating MOUs. We no
longer include M2M subscribers.
Caribbean
Net additions in Dominicana were concentrated
in the prepaid segment and reached 126 thousand subsnearly 76% more than a year before. In Puerto Rico we gained 24 thousand new subscribers, including 13 thousand postpaids. On the fixed-line segment net additions were driven
by broadband accesses: 14 thousand in Dominicana and 5 thousand in Puerto Rico.
Total revenues in Dominicana were up 1.4% showing an
important sequential improvement coming from minus 6.0% in 2Q20. Service revenues rose 3.7% annually. Mobile service revenues rose 7.6%, compared to minus 2.0% in the prior quarter. The rebound was noteworthy in the prepaid segment where revenues
expanded 11.4% compared to a 3.5% reduction the prior quarter. In the postpaid segment revenues were 3.4% greater than a year before (compared to -0.4% in the second quarter).
EBITDA was up 5.8% with the margin climbing two percentage points from the year-earlier quarter to 48.5% on the back of operational efficiencies and the
recovery of the revenue base.
Puerto Ricos revenue grew 10.9%
year-on-year with service revenues expanding 2.8%. Growth is partly linked to federal and local government aid to students that helped boost equipment sales and a
greater demand for fixed broadband and mobile WiFi services. This is reflected in a 13.8% increase in mobile postpaid service revenuesfrom 2.7% the second quarter.
EBITDA for the quarter was up 38.3% following revenue improvements and greater equipment profits along with overall cost containment efforts; the EBITDA
margin stood at 19.5% of revenues, 3.9 percentage points higher than a year before.
INCOME
STATEMENT - Caribbean Millions of Dollars
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19(1)
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19(1)
|
|
|
Var.%
|
|
|
|
Total Revenues*
|
|
|
439
|
|
|
|
441
|
|
|
|
-0.6%
|
|
|
|
1,279
|
|
|
|
1,342
|
|
|
|
-4.7%
|
|
|
|
Total Service Revenues
|
|
|
377
|
|
|
|
391
|
|
|
|
-3.4%
|
|
|
|
1,127
|
|
|
|
1,192
|
|
|
|
-5.4%
|
|
|
|
Wireless Revenues
|
|
|
272
|
|
|
|
260
|
|
|
|
4.6%
|
|
|
|
777
|
|
|
|
790
|
|
|
|
-1.7%
|
|
|
|
Service Revenues
|
|
|
214
|
|
|
|
210
|
|
|
|
1.9%
|
|
|
|
631
|
|
|
|
640
|
|
|
|
-1.5%
|
|
|
|
Equipment Revenues
|
|
|
58
|
|
|
|
50
|
|
|
|
16.0%
|
|
|
|
146
|
|
|
|
150
|
|
|
|
-2.6%
|
|
|
|
Fixed Line Revenues
|
|
|
166
|
|
|
|
183
|
|
|
|
-9.1%
|
|
|
|
505
|
|
|
|
560
|
|
|
|
-9.9%
|
|
|
|
EBITDA
|
|
|
150
|
|
|
|
145
|
|
|
|
3.4%
|
|
|
|
423
|
|
|
|
440
|
|
|
|
-3.8%
|
|
|
|
% total revenues
|
|
|
34.1%
|
|
|
|
32.8%
|
|
|
|
|
|
|
|
33.1%
|
|
|
|
32.8%
|
|
|
|
|
|
|
|
EBIT
|
|
|
69
|
|
|
|
66
|
|
|
|
3.6%
|
|
|
|
178
|
|
|
|
198
|
|
|
|
-9.8%
|
|
|
|
%
|
|
|
15.6%
|
|
|
|
15.0%
|
|
|
|
|
|
|
|
13.9%
|
|
|
|
14.7%
|
|
|
|
|
|
|
|
*Revenues reflect eliminations derived from both the overlap of fixed and mobile
operations as well as international intercompany transactions. Total revenues include other income.
(1)2019 reflects reclassifications of fixed and mobile
service revenues.
Caribbean Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
6,237
|
|
|
|
6,139
|
|
|
|
1.6%
|
|
|
|
Postpaid
|
|
|
2,024
|
|
|
|
1,994
|
|
|
|
1.5%
|
|
|
|
Prepaid
|
|
|
4,213
|
|
|
|
4,145
|
|
|
|
1.6%
|
|
|
|
MOU(1)
|
|
|
237
|
|
|
|
227
|
|
|
|
4.4%
|
|
|
|
ARPU (US$)
|
|
|
12
|
|
|
|
12
|
|
|
|
1.0%
|
|
|
|
Churn (%)
|
|
|
3.3%
|
|
|
|
3.4%
|
|
|
|
-0.2%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
2,532
|
|
|
|
2,537
|
|
|
|
-0.2%
|
|
|
|
*Fixed Line, Broadband and Television.
(1)We modified the methodology for calculating MOUs. We no
longer include M2M subscribers.
United States
We ended September with 20.9 million
subscribers after net disconnections of 42 thousand in the third quarter.
Our revenues topped two billion dollars in the third quarter, up
0.7% year-on-year. Service revenues increased 3.5%, up from 1.2% in the second quarter and 0.1% in the first, as the prepaid segment we serve has become, under current
economic conditions, more appealing to clients that seek flexibility and better control over their expenditures. ARPU rose 5.5% from the year-earlier quarter to 28 dollars.
EBITDA of 269 million dollars was 69.1% higher than a year before. This figure reflects certain reductions in the cost of airtime following
negotiations reached with certain carriers in the second quarter, in absence of which EBITDA growth would have been 20.1% in the quarter. The EBITDA margin was equivalent to 13.2%, compared to 7.8% in 2019.
INCOME STATEMENT -
United States Millions of Dollars
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
|
|
|
|
Total Revenues
|
|
|
2,043
|
|
|
|
2,030
|
|
|
|
0.7%
|
|
|
|
6,116
|
|
|
|
6,020
|
|
|
|
1.6%
|
|
|
|
Service Revenues
|
|
|
1,764
|
|
|
|
1,704
|
|
|
|
3.5%
|
|
|
|
5,185
|
|
|
|
5,103
|
|
|
|
1.6%
|
|
|
|
Equipment Revenues
|
|
|
278
|
|
|
|
325
|
|
|
|
-14.4%
|
|
|
|
930
|
|
|
|
917
|
|
|
|
1.5%
|
|
|
|
EBITDA
|
|
|
269
|
|
|
|
159
|
|
|
|
69.1%
|
|
|
|
698
|
|
|
|
460
|
|
|
|
51.7%
|
|
|
|
% total revenues
|
|
|
13.2%
|
|
|
|
7.8%
|
|
|
|
|
|
|
|
11.4%
|
|
|
|
7.6%
|
|
|
|
|
|
|
|
EBIT
|
|
|
251
|
|
|
|
142
|
|
|
|
77.2%
|
|
|
|
643
|
|
|
|
405
|
|
|
|
58.9%
|
|
|
|
%
|
|
|
12.3%
|
|
|
|
7.0%
|
|
|
|
|
|
|
|
10.5%
|
|
|
|
6.7%
|
|
|
|
|
|
|
|
United States Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
20,876
|
|
|
|
21,229
|
|
|
|
-1.7%
|
|
|
|
Straight Talk
|
|
|
9,683
|
|
|
|
9,307
|
|
|
|
4.0%
|
|
|
|
SafeLink
|
|
|
2,017
|
|
|
|
2,448
|
|
|
|
-17.6%
|
|
|
|
Other Brands
|
|
|
9,176
|
|
|
|
9,474
|
|
|
|
-3.1%
|
|
|
|
MOU
|
|
|
657
|
|
|
|
591
|
|
|
|
11.1%
|
|
|
|
ARPU (US$)
|
|
|
28
|
|
|
|
27
|
|
|
|
5.5%
|
|
|
|
Churn (%)
|
|
|
3.5%
|
|
|
|
4.0%
|
|
|
|
-0.5%
|
|
|
|
A1 Telekom Austria Group
We added 310 thousand postpaid wireless subscribers241 thousand in Austriaand 91 thousand prepaids in the third quarter. On
the fixed-line platform, the number of fixed broadband and PayTV accesses changed marginally.
On a consolidated basis, third quarter revenues
decreased 0.9% to 1.1 billion euros, with service revenues declining 2.1% due to roaming losses and negative foreign exchange effects arising form the devaluation of the Belarussian currency. At constant exchange rates service revenues
increased 0.1%.
Mobile service revenues declined 3.8% on a group level. In Austria, mobile service revenues were down 0.5% and in our international
operations they declined 6.5%. The loss of roaming revenues was felt more strongly in Austria, Croatia and Slovenia whereas the currency effects were limited to Belarus.
On the fixed-line segment revenues were flat year-on-year with Austria
falling 1.6% driven by lower interconnection revenues as international traffic volumes decreased sharply. Our international operations saw fixed-line service revenues rising 2.3%.
Adjusted EBITDA (before restructuring charges) increased 0.5% to 463 million euros; after restructuring charges EBITDA was up 0.6%. In Austria
EBITDA rose 4.7% before restructuring charges while in our international operations it was up 3.3% (adjusted by foreign exchange and one-offs) on the back of strong performances in Belarus, Bulgaria and
Slovenia.
INCOME STATEMENT (In accordance with IFRS 16) - A1 Telekom Austria Group
Millions of Euros
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
Jan-Sep 20
|
|
|
Jan-Sep 19
|
|
|
Var.%
|
|
|
|
Total Revenues
|
|
|
1,142
|
|
|
|
1,153
|
|
|
|
-0.9%
|
|
|
|
3,364
|
|
|
|
3,365
|
|
|
|
0.0%
|
|
|
|
Total service revenues
|
|
|
954
|
|
|
|
975
|
|
|
|
-2.1%
|
|
|
|
2,843
|
|
|
|
2,843
|
|
|
|
0.0%
|
|
|
|
Wireless service revenues
|
|
|
524
|
|
|
|
545
|
|
|
|
-3.8%
|
|
|
|
1,554
|
|
|
|
1,555
|
|
|
|
0.0%
|
|
|
|
Fixed-line service revenues
|
|
|
430
|
|
|
|
430
|
|
|
|
0.0%
|
|
|
|
1,289
|
|
|
|
1,288
|
|
|
|
0.1%
|
|
|
|
Equipment revenues
|
|
|
169
|
|
|
|
158
|
|
|
|
7.2%
|
|
|
|
464
|
|
|
|
451
|
|
|
|
2.8%
|
|
|
|
Other operating income
|
|
|
19
|
|
|
|
20
|
|
|
|
-5.0%
|
|
|
|
57
|
|
|
|
71
|
|
|
|
-19.8%
|
|
|
|
EBITDA
|
|
|
442
|
|
|
|
439
|
|
|
|
0.6%
|
|
|
|
1,212
|
|
|
|
1,205
|
|
|
|
0.6%
|
|
|
|
% total revenues
|
|
|
38.7%
|
|
|
|
38.1%
|
|
|
|
|
|
|
|
36.0%
|
|
|
|
35.8%
|
|
|
|
|
|
|
|
Adjusted EBITDA(1)
|
|
|
463
|
|
|
|
460
|
|
|
|
0.5%
|
|
|
|
1,274
|
|
|
|
1,268
|
|
|
|
0.5%
|
|
|
|
% total revenues
|
|
|
40.5%
|
|
|
|
39.9%
|
|
|
|
|
|
|
|
37.9%
|
|
|
|
37.7%
|
|
|
|
|
|
|
|
EBIT
|
|
|
211
|
|
|
|
202
|
|
|
|
4.3%
|
|
|
|
510
|
|
|
|
497
|
|
|
|
2.6%
|
|
|
|
% total revenues
|
|
|
18.4%
|
|
|
|
17.5%
|
|
|
|
|
|
|
|
15.2%
|
|
|
|
14.8%
|
|
|
|
|
|
|
|
For further detail please visit
www.a1.group/en/investor-relations
(1)Does not include restructuring charges in Austria.
A1 Telekom Austria Group Operating Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
|
|
Wireless Subscribers (thousands)
|
|
|
21,609
|
|
|
|
21,512
|
|
|
|
0.5%
|
|
|
|
Postpaid
|
|
|
17,505
|
|
|
|
16,814
|
|
|
|
4.1%
|
|
|
|
Prepaid
|
|
|
4,104
|
|
|
|
4,698
|
|
|
|
-12.6%
|
|
|
|
MOU(1)
|
|
|
410
|
|
|
|
358
|
|
|
|
14.5%
|
|
|
|
ARPU (US$)
|
|
|
8
|
|
|
|
8
|
|
|
|
-4.1%
|
|
|
|
Churn (%)
|
|
|
1.2%
|
|
|
|
1.6%
|
|
|
|
-0.4%
|
|
|
|
Revenue Generating Units (RGUs)*
|
|
|
6,066
|
|
|
|
6,139
|
|
|
|
-1.2%
|
|
|
|
*Fixed Line, Broadband and Television.
(1)We
modified the methodology for calculating MOUs. We no longer include M2M subscribers.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange Rates Local Currency Units per
MxP
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
Jan-Sep
20
|
|
Jan-Sep
19
|
|
Var.%
|
Euro
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
0.0380
|
|
|
|
0.0467
|
|
|
-18.7%
|
|
0.0380
|
|
0.0467
|
|
-18.7%
|
Average
|
|
|
0.0387
|
|
|
|
0.0463
|
|
|
-16.5%
|
|
0.0409
|
|
0.0462
|
|
-11.6%
|
U.S.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
0.0445
|
|
|
|
0.0509
|
|
|
-12.6%
|
|
0.0445
|
|
0.0509
|
|
-12.6%
|
Average
|
|
|
0.0452
|
|
|
|
0.0515
|
|
|
-12.2%
|
|
0.0459
|
|
0.0519
|
|
-11.5%
|
Brazilean Real
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
0.2512
|
|
|
|
0.2121
|
|
|
18.4%
|
|
0.2512
|
|
0.2121
|
|
18.4%
|
Average
|
|
|
0.2430
|
|
|
|
0.2044
|
|
|
18.9%
|
|
0.2328
|
|
0.2019
|
|
15.3%
|
Argentinean Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
3.3922
|
|
|
|
2.9328
|
|
|
15.7%
|
|
3.3922
|
|
2.9328
|
|
15.7%
|
Average
|
|
|
3.3139
|
|
|
|
2.5976
|
|
|
27.6%
|
|
3.1002
|
|
2.3091
|
|
34.3%
|
Chilean Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
35.0955
|
|
|
|
37.0849
|
|
|
-5.4%
|
|
35.0955
|
|
37.0849
|
|
-5.4%
|
Average
|
|
|
35.2908
|
|
|
|
36.3210
|
|
|
-2.8%
|
|
36.8441
|
|
35.5985
|
|
3.5%
|
Colombian Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
172.7251
|
|
|
|
176.3066
|
|
|
-2.0%
|
|
172.7251
|
|
176.3066
|
|
-2.0%
|
Average
|
|
|
168.6392
|
|
|
|
171.8567
|
|
|
-1.9%
|
|
170.1113
|
|
168.2032
|
|
1.1%
|
Guatemalan Quetzal
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
0.3467
|
|
|
|
0.3939
|
|
|
-12.0%
|
|
0.3467
|
|
0.3939
|
|
-12.0%
|
Average
|
|
|
0.3491
|
|
|
|
0.3956
|
|
|
-11.8%
|
|
0.3537
|
|
0.3995
|
|
-11.5%
|
Peruvian Sol
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
0.1603
|
|
|
|
0.1724
|
|
|
-7.0%
|
|
0.1603
|
|
0.1724
|
|
-7.0%
|
Average
|
|
|
0.1604
|
|
|
|
0.1722
|
|
|
-6.8%
|
|
0.1590
|
|
0.1729
|
|
-8.1%
|
Dominican Republic Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
2.6049
|
|
|
|
2.6894
|
|
|
-3.1%
|
|
2.6049
|
|
2.6894
|
|
-3.1%
|
Average
|
|
|
2.6463
|
|
|
|
2.6775
|
|
|
-1.2%
|
|
2.6000
|
|
2.6543
|
|
-2.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange Rates Local Currency Units per
USD
|
|
|
|
|
|
|
|
|
3Q20
|
|
|
3Q19
|
|
|
Var.%
|
|
Jan-Sep
20
|
|
Jan-Sep
19
|
|
Var.%
|
Euro
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
0.8532
|
|
|
|
0.9175
|
|
|
-7.0%
|
|
0.8532
|
|
0.9175
|
|
-7.0%
|
Average
|
|
|
0.8554
|
|
|
|
0.8998
|
|
|
-4.9%
|
|
0.8895
|
|
0.8901
|
|
-0.1%
|
Mexican Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
22.4573
|
|
|
|
19.6363
|
|
|
14.4%
|
|
22.4573
|
|
19.6363
|
|
14.4%
|
Average
|
|
|
22.1111
|
|
|
|
19.4227
|
|
|
13.8%
|
|
21.7673
|
|
19.2546
|
|
13.0%
|
Brazilean Real
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
5.6407
|
|
|
|
4.1644
|
|
|
35.5%
|
|
5.6407
|
|
4.1644
|
|
35.5%
|
Average
|
|
|
5.3732
|
|
|
|
3.9694
|
|
|
35.4%
|
|
5.0667
|
|
3.8868
|
|
30.4%
|
Argentinean Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
76.1800
|
|
|
|
57.5900
|
|
|
32.3%
|
|
76.1800
|
|
57.5900
|
|
32.3%
|
Average
|
|
|
73.2740
|
|
|
|
50.4516
|
|
|
45.2%
|
|
67.4826
|
|
44.4612
|
|
51.8%
|
Chilean Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
788.1500
|
|
|
|
728.2100
|
|
|
8.2%
|
|
788.1500
|
|
728.2100
|
|
8.2%
|
Average
|
|
|
780.3197
|
|
|
|
705.4527
|
|
|
10.6%
|
|
801.9951
|
|
685.4349
|
|
17.0%
|
Colombian Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
3,878.9400
|
|
|
|
3,462.0100
|
|
|
12.0%
|
|
3,878.9400
|
|
3,462.0100
|
|
12.0%
|
Average
|
|
|
3,728.8049
|
|
|
|
3,337.9230
|
|
|
11.7%
|
|
3,702.8610
|
|
3,238.6848
|
|
14.3%
|
Guatemalan Quetzal
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
7.7860
|
|
|
|
7.7355
|
|
|
0.7%
|
|
7.7860
|
|
7.7355
|
|
0.7%
|
Average
|
|
|
7.7195
|
|
|
|
7.6842
|
|
|
0.5%
|
|
7.6992
|
|
7.6919
|
|
0.1%
|
Peruvian Sol
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
3.5990
|
|
|
|
3.3850
|
|
|
6.3%
|
|
3.5990
|
|
3.3850
|
|
6.3%
|
Average
|
|
|
3.5469
|
|
|
|
3.3439
|
|
|
6.1%
|
|
3.4606
|
|
3.3300
|
|
3.9%
|
Dominican Republic Peso
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Period
|
|
|
58.5000
|
|
|
|
52.8100
|
|
|
10.8%
|
|
58.5000
|
|
52.8100
|
|
10.8%
|
Average
|
|
|
58.5137
|
|
|
|
52.0039
|
|
|
12.5%
|
|
56.5950
|
|
51.1082
|
|
10.7%
|
Glossary of Terms
|
|
|
|
|
ARPU
|
|
Average Revenue per User. The ratio of service revenues in a given period to the average number of wireless subscribers in the same
period. It is presented on a monthly basis.
|
|
|
ARPM
|
|
Average Revenue per Minute. The ratio of service revenues to airtime traffic.
|
|
|
Capex
|
|
Capital Expenditure. Accrued capital expenditures related to the expansion of the telecommunications infrastructure.
|
|
|
Churn
|
|
Disconnection Rate. The ratio of wireless subscribers disconnected during a given period to the number of wireless subscribers at the
beginning of that period.
|
|
|
EBIT
|
|
Earnings Before Interest and Taxes, also known as Operating Profit.
|
|
|
EBIT margin
|
|
The ratio of EBIT to total operating revenue.
|
|
|
EBITDA
|
|
Earnings Before Interest, Taxes, Depreciation, and Amortization.
|
|
|
EBITDA margin
|
|
The ratio of EBITDA to total operating revenue.
|
|
|
EPS (Mexican pesos)
|
|
Earnings per share. Total earnings in Mexican pesos divided by total shares.
|
|
|
Earnings per ADR (US$)
|
|
Total earnings in U.S. dollars divided by total ADRs equivalent.
|
|
|
Gross additions
|
|
Total number of subscribers acquired during the period.
|
|
|
Licensed pops
|
|
Licensed population. Population covered by the licenses that each of the companies manage.
|
|
|
LTE
|
|
Long-term evolution is a 4th generation standard for wireless communication of high-speed data for mobile phones and data
terminals.
|
|
|
Market share
|
|
A companys subscriber base divided by the total number of subscribers in that country.
|
|
|
MBOU
|
|
Megabytes of Use per subscriber. The ratio of wireless data in a given period to the average number of wireless subscribers in that
same period. It is presented on a monthly basis.
|
|
|
MOU
|
|
Minutes of Use per subscriber. The ratio of wireless traffic in a given period to the average number of wireless subscribers in that
same period. It is presented on a monthly basis.
|
|
|
Net subscriber additions
|
|
The difference in the subscriber base from one period to another. It is the different between gross additions and
disconnections.
|
|
|
Net debt
|
|
Total short and long term debt minus cash and marketable securities.
|
|
|
Net debt / EBITDA
|
|
The ratio of total short and long term debt minus cash and securities to trailing 12-month
income before interest, taxes, depreciation and amortization.
|
|
|
Prepaid
|
|
Subscriber that may purchase airtime to recharge a cellular phone. The client does not hold a contract with the company for voice and
data services.
|
|
|
Postpaid
|
|
Subscriber that has a contract for the use of airtime. The client has no need of activating airtime, it is done so
immediately.
|
|
|
SMS
|
|
Short Message Service.
|
|
|
SAC
|
|
Subscriber Acquisition Cost. The sum of handset subsidies, marketing expenses and commissions to distributors for handset activation.
Handset subsidy is calculated as the difference between equipment cost and equipment revenues.
|
|
|
Wireless penetration
|
|
The ratio of total wireless subscribers in any given country divided by the total population in that country.
|
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
|
|
|
|
|
|
Date: October 22, 2020
|
|
|
|
AMÉRICA MÓVIL, S.A.B. DE C.V.
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Carlos José García Moreno Elizondo
|
|
|
|
|
Name:
|
|
Carlos José García Moreno Elizondo
|
|
|
|
|
Title:
|
|
Chief Financial Officer
|
America Movil SAB de CV (NYSE:AMX)
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From Apr 2024 to May 2024
America Movil SAB de CV (NYSE:AMX)
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From May 2023 to May 2024