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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  América Móvil, S.A.B. de C.V.    AMX L   MXP001691213

AMÉRICA MÓVIL, S.A.B. DE C.V.

(AMX L)
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America Móvil B de C : Movil Net Profit Rises in Second Quarter

07/14/2020 | 05:53pm EST

By Anthony Harrup

 

MEXICO CITY -- Mexican telecommunications heavyweight America Movil SAB said its net profit rose 40% in the second quarter from a year earlier on higher operating gains and steady revenue despite pressures from shutdowns across markets because of the coronavirus pandemic.

Latin America's largest mobile company by subscribers, controlled by billionaire Carlos Slim, reported Tuesday a net profit of 20.06 billion Mexican pesos ($894 million) in the April-June quarter, up 40% from 14.36 billion pesos a year earlier. The profit was equivalent to 0.30 pesos per share, or $0.26 per American depositary receipt.

Revenue rose 0.6% to 251.58 billion pesos, with a 6.5% increase in service revenue offset by a 27% decline in equipment sales. In constant currency terms, service revenue increased 0.8%.

Operating profit in the second quarter rose 10% to 40.91 billion pesos, and earnings before interest, taxes, depreciation and amortization, a measure of cash flow, rose 5.9% to 82.65 billion pesos.

The shutdowns and stay-at-home measures across most of the region in response to the coronavirus meant that stores and customer centers were closed, reducing equipment sales, and the restricted movement of people reduced demand for mobile service, America Movil said.

The company disconnected more than 5 million wireless lines in the quarter, including 4.6 million prepaid lines, ending June with 277.5 million mobile subscribers. In the fixed-line segment, it added 450,000 new broadband subscribers, offset by the loss of voice and pay TV customers. Overall fixed-line subscriptions slipped 0.5% from the previous quarter to 81 million.

Many postpaid customers switched to cheaper plans in anticipation of economic difficulties ahead, while small businesses that were forced to close sought to discontinue their service or lower their costs, America Movil said.

The pandemic has brought about massive business closures and job losses across Latin America and the Caribbean. The International Monetary Fund forecasts that the region's gross domestic product will contract 9.4% this year, including a 10.5% drop in Mexico and a 13.9% decline in Peru.

 

Write to Anthony Harrup at anthony.harrup@wsj.com

 

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Financials
Sales 2020 1 022 B 51 022 M 51 022 M
Net income 2020 34 207 M 1 707 M 1 707 M
Net Debt 2020 646 B 32 237 M 32 237 M
P/E ratio 2020 23,7x
Yield 2020 2,06%
Capitalization 987 B 49 172 M 49 264 M
EV / Sales 2020 1,60x
EV / Sales 2021 1,58x
Nbr of Employees 187 383
Free-Float 48,5%
Chart AMÉRICA MÓVIL, S.A.B. DE C.V.
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América Móvil, S.A.B. de C.V. Technical Analysis Chart | AMX L | MXP001691213 | MarketScreener
Technical analysis trends AMÉRICA MÓVIL, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 17,91 MXN
Last Close Price 14,74 MXN
Spread / Highest target 42,5%
Spread / Average Target 21,5%
Spread / Lowest Target 1,76%
EPS Revisions
Managers
NameTitle
Daniel Hajj Aboumrad Chief Executive Officer & Executive Director
Carlos Slim Domit Chairman
Carlos José García Moreno Elizondo Chief Financial Officer
Luis Alejandro Soberón Kuri Director
David Antonio Ibarra Muñoz Independent Director
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