[FORM 6-K Filing Information](index=1&type=section&id=FORM%206-K%20Filing%20Information) [Registrant Details](index=1&type=section&id=Registrant%20Details) This section provides the official filing details for América Móvil, S.A.B. de C.V. with the Securities and Exchange Commission (SEC) under Form 6-K for the month of April 2025, confirming its status as a foreign private issuer - Registrant: **AMÉRICA MÓVIL, S.A.B. DE C.V.**[1](index=1&type=chunk) - Filing Type: **FORM 6-K**, Report of Foreign Private Issuer, for the month of April, 2025[1](index=1&type=chunk) - Annual Report Form: **Form 20-F ☒**[3](index=3&type=chunk) [Highlights](index=2&type=section&id=Highlights) [Q1 2025 Key Performance Indicators](index=2&type=section&id=Q1%202025%20Key%20Performance%20Indicators) América Móvil reported strong Q1 2025 results, driven by significant postpaid subscriber additions and robust revenue growth, particularly in service revenue and adjusted EBITDA, while managing net debt effectively Q1 2025 Key Operating and Financial Highlights | Metric | Value | Change YoY | | :-------------------------------- | :---------------- | :--------- | | Postpaid Subscribers Added | 2.4 million | N/A | | Broadband Accesses Connected | 446 thousand | N/A | | Total Revenue (MXN) | 232 billion | +14.1% | | Service Revenue (MXN) | N/A | +15.8% | | Adjusted EBITDA (MXN) | N/A | +13.3% | | Service Revenue (constant exchange rates) | N/A | +6.1% | | Adjusted EBITDA (constant exchange rates) | N/A | +4.0% | | Mobile Service Revenue | N/A | +5.7% | | Postpaid Revenue Growth | N/A | +8.8% | | Fixed-line Service Revenue | N/A | +6.7% | | Broadband Revenue Growth | N/A | +9.8% | | PayTV Revenue Growth | N/A | +8.7% | | Operating Profit (MXN) | 44.8 billion | +10.0% | | Net Income (MXN) | 18.7 billion | +38.6% | | Net Debt (excluding leases) (MXN) | 500 billion | N/A | | Net Debt-to-EBITDAaL Ratio | 1.50 times | N/A | [América Móvil Fundamentals](index=3&type=section&id=Am%C3%A9rica%20M%C3%B3vil%20Fundamentals) [Key Financial Metrics](index=3&type=section&id=Key%20Financial%20Metrics) América Móvil's Q1 2025 fundamentals show significant growth in net income and earnings per share, alongside an increase in EBITDA per share, reflecting improved profitability América Móvil Fundamentals (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | | :-------------------------------- | :----- | :----- | | Earnings per Share (MXN) | 0.31 | 0.22 | | Earnings per ADR (USD) | 0.30 | 0.25 | | EBITDA per Share (MXN) | 1.50 | 1.29 | | EBITDA per ADR (USD) | 1.46 | 1.52 | | Net Income (Millions of MXN) | 18,703 | 13,494 | | Average Shares Outstanding (Billion) | 60.9 | 62.3 | | Shares Outstanding End of Period (Billion) | 60.7 | 62.1 | [Subsidiaries Overview](index=3&type=section&id=Subsidiaries%20Overview) América Móvil operates through a wide network of subsidiaries across Mexico, South America, Central America, the Caribbean, and Europe, offering wireless and wireline services with varying equity stakes - América Móvil holds significant equity stakes in numerous subsidiaries across various regions, including Mexico (Telcel, Telmex - **100% equity**), Argentina (Claro - **100%**), Austria (A1 - **60.8%**), Brazil (Claro - **99.6%**), Chile (Claro - **96.9%**), Colombia (Claro - **99.4%**), Costa Rica (Claro - **100%**), Dominican Republic (Claro - **100%**), Ecuador (Claro - **100%**), El Salvador (Claro - **97.0%**), Guatemala (Claro - **99.3%**), Honduras (Claro - **100%**), Nicaragua (Claro - **99.6%**), Paraguay (Claro - **100%**), Peru (Claro - **100%**), Puerto Rico (Claro - **100%**), and Uruguay (Claro - **100%**)[7](index=7&type=chunk) - The company's operations span wireless and wireline services, with tower operations also noted in Europe (Euro Telesites - **57.0%**)[7](index=7&type=chunk) [Relevant Events](index=4&type=section&id=Relevant%20events) [Annual Shareholders' Meeting Proposals](index=4&type=section&id=Annual%20Shareholders'%20Meeting%20Proposals) América Móvil's Board of Directors proposed an ordinary dividend payment and an additional allocation to the share-buyback fund for approval at the annual shareholders' meeting - Proposed an ordinary dividend of **MXP$0.52 per share**, payable in two equal installments[10](index=10&type=chunk) - Proposed allocating an additional **10 billion pesos** to the share-buyback fund for the April 2025—April 2026 period[10](index=10&type=chunk) [Subscribers and Access Lines](index=4&type=section&id=Subscribers) [Overall Subscriber Additions](index=4&type=section&id=Overall%20Subscriber%20Additions) América Móvil achieved significant postpaid subscriber growth and broadband access additions in Q1 2025, despite some prepaid segment disconnections - Added **2.4 million postpaid subscribers**, with Brazil leading (**987k**), followed by Colombia (**163k**) and Mexico (**133k**)[4](index=4&type=chunk)[11](index=11&type=chunk) - Disconnected **1.0 million prepaid subscribers**, primarily in Mexico and Brazil[4](index=4&type=chunk)[11](index=11&type=chunk) - Connected **446 thousand new broadband accesses**, with Mexico contributing **165k**, Brazil **98k**, and Central America **52k**[4](index=4&type=chunk)[12](index=12&type=chunk) [Total Access Lines Overview](index=4&type=section&id=Total%20Access%20Lines%20Overview) As of March 2025, América Móvil maintained a substantial base of 402 million access lines, driven by growth in mobile postpaid and fixed-broadband segments Total Access Lines as of March 2025 | Category | Count (Millions) | | :-------------------- | :--------------- | | Total Access Lines | 402 | | Wireless Subscribers | 324 | | - Postpaid Clients | 134 | | Fixed-line RGUs | 78 | | - Broadband Accesses | 35 | | - Pay TV Units | 14 | | - Land-lines | 29 | - Mobile postpaid and fixed-broadband client bases increased by **6.1%** and **4.3%** respectively[13](index=13&type=chunk) [Wireless Subscribers by Country](index=5&type=section&id=Wireless%20Subscribers%20by%20Country) América Móvil's total wireless subscriber base grew by 2.3% year-on-year to 323.9 million, with strong growth in Southern Cone, Austria & Eastern Europe, and Ecuador Wireless Subscribers (Thousands) as of March 2025 | Country | Mar '25 | Dec '24 | Var.% (QoQ) | Mar '24 | Var.% (YoY) | | :------------------------ | :-------- | :-------- | :---------- | :-------- | :---------- | | Brazil | 87,587 | 87,145 | 0.5% | 87,652 | -0.1% | | Central America | 17,386 | 17,241 | 0.8% | 16,717 | 4.0% | | Caribbean | 8,000 | 7,910 | 1.1% | 7,668 | 4.3% | | Colombia | 41,250 | 40,953 | 0.7% | 39,744 | 3.8% | | Ecuador | 9,949 | 9,862 | 0.9% | 9,479 | 5.0% | | Austria & Eastern Europe | 27,588 | 27,122 | 1.7% | 25,440 | 8.4% | | Mexico | 83,925 | 84,613 | -0.8% | 83,994 | -0.1% | | Peru | 12,749 | 12,686 | 0.5% | 12,645 | 0.8% | | Southern Cone | 35,486 | 35,060 | 1.2% | 33,226 | 6.8% | | **Total Wireless Lines** | **323,920** | **322,593** | **0.4%** | **316,566** | **2.3%** | [Fixed-Line and Other Accesses (RGUs) by Country](index=5&type=section&id=Fixed-Line%20and%20Other%20Accesses%20(RGUs)%20by%20Country) Total fixed-line RGUs increased by 1.2% year-on-year to 78.2 million, with Central America and Ecuador showing the highest annual growth rates Fixed-Line and Other Accesses (RGUs) (Thousands) as of March 2025 | Country | Mar '25 | Dec '24 | Var.% (QoQ) | Mar '24 | Var.% (YoY) | | :------------------------ | :-------- | :-------- | :---------- | :-------- | :---------- | | Brazil | 22,265 | 22,390 | -0.6% | 22,879 | -2.7% | | Central America | 5,310 | 5,203 | 2.1% | 4,963 | 7.0% | | Caribbean | 2,861 | 2,843 | 0.6% | 2,800 | 2.1% | | Colombia | 9,625 | 9,583 | 0.4% | 9,487 | 1.5% | | Ecuador | 620 | 597 | 3.9% | 560 | 10.7% | | Austria & Eastern Europe | 6,378 | 6,353 | 0.4% | 6,267 | 1.8% | | Mexico | 22,090 | 21,936 | 0.7% | 21,598 | 2.3% | | Peru | 1,953 | 1,971 | -0.9% | 1,886 | 3.6% | | Southern Cone | 7,117 | 7,061 | 0.8% | 6,838 | 4.1% | | **Total RGUs** | **78,220** | **77,936** | **0.4%** | **77,279** | **1.2%** | [Broadband Accesses by Country](index=6&type=section&id=Broadband%20Accesses%20by%20Country) Broadband accesses increased by 4.3% year-on-year to 35.5 million, with Central America and Ecuador leading in annual growth, reflecting continued demand for high-speed internet Broadband Accesses (Thousands) as of March 2025 | Country | Mar '25 | Dec '24 | Var.% (QoQ) | Mar '24 | Var.% (YoY) | | :------------------------ | :-------- | :-------- | :---------- | :-------- | :---------- | | Brazil | 10,378 | 10,279 | 1.0% | 10,083 | 2.9% | | Central America | 1,737 | 1,685 | 3.1% | 1,573 | 10.5% | | Caribbean | 1,102 | 1,086 | 1.4% | 1,061 | 3.9% | | Colombia | 3,447 | 3,432 | 0.4% | 3,395 | 1.5% | | Ecuador | 362 | 351 | 3.2% | 328 | 10.2% | | Austria & Eastern Europe | 2,815 | 2,791 | 0.9% | 2,744 | 2.6% | | Mexico | 11,374 | 11,209 | 1.5% | 10,814 | 5.2% | | Peru | 1,076 | 1,058 | 1.7% | 1,010 | 6.5% | | Southern Cone | 3,169 | 3,123 | 1.5% | 3,001 | 5.6% | | **Total Broadband Accesses** | **35,459** | **35,013** | **1.3%** | **34,009** | **4.3%** | [América Móvil Consolidated Results](index=7&type=section&id=Am%C3%A9rica%20M%C3%B3vil%20Consolidated) [Macroeconomic Context and Currency Impact](index=7&type=section&id=Macroeconomic%20Context%20and%20Currency%20Impact) Q1 2025 saw fluctuating interest rates and currency movements, with most regional currencies appreciating against the U.S. dollar, impacting reported financial figures in Mexican peso terms - U.S. 10-year Treasury yields decreased by **60 basis points** to **4.20%** by quarter-end, influenced by inflation expectations and payroll figures[22](index=22&type=chunk) - Most currencies in América Móvil's operating region appreciated against the U.S. dollar (e.g., Brazilian real **-7.3%**, Colombian peso **-4.9%**, Chilean peso **-4.4%**, Euro **-4.2%**), while the Mexican peso remained flat[22](index=22&type=chunk) - Currency appreciation, particularly of the Colombian (**+18.0%**) and Chilean (**+14.0%**) pesos, and the dollar (**+17.7%**) and euro (**+14.1%**) against the Mexican peso, partly contributed to the reported year-on-year growth in Mexican peso terms[23](index=23&type=chunk) [Consolidated Financial Performance Overview](index=7&type=section&id=Consolidated%20Financial%20Performance%20Overview) América Móvil delivered strong consolidated financial results in Q1 2025, with significant revenue and net income growth, driven by service revenue expansion across mobile and fixed-line platforms, and effective cost management Consolidated Financial Performance (Q1 2025 vs Q1 2024) | Metric | 1Q25 (Billion MXN) | 1Q24 (Billion MXN) | Var.% (YoY) | | :-------------------------------- | :------------------ | :------------------ | :---------- | | Total Revenue | 232.0 | 203.3 | +14.1% | | Service Revenue | 197.9 | 170.9 | +15.8% | | Adjusted EBITDA | 91.0 | 80.3 | +13.3% | | Operating Profit | 44.8 | 40.8 | +10.0% | | Net Income | 18.7 | 13.5 | +38.6% | - At constant exchange rates, service revenue increased **6.1%** and adjusted EBITDA **4.0%**[23](index=23&type=chunk) - Mobile service revenue grew **5.7%** (postpaid **+8.8%**), and fixed-line service revenue increased **6.7%** (broadband **+9.8%**, PayTV **+8.7%**)[24](index=24&type=chunk)[25](index=25&type=chunk) - Net debt (excluding leases) stood at **500 billion pesos**, representing a net debt-to-EBITDAaL ratio of **1.50 times**[4](index=4&type=chunk)[30](index=30&type=chunk) [Consolidated Financial Statements](index=9&type=section&id=Consolidated%20Financial%20Statements) [Income Statement](index=9&type=section&id=Income%20Statement) América Móvil's Q1 2025 income statement reflects strong revenue growth, particularly in service revenue, leading to a substantial increase in net income despite rising costs and depreciation América Móvil's Income Statement (Millions of Mexican pesos) | Metric | 1Q25 | 1Q24 | Var.% | | :----------------------------------------------------- | :------- | :------- | :------ | | Service Revenue | 197,923 | 170,890 | 15.8% | | Equipment Revenue | 31,767 | 29,963 | 6.0% | | Other Revenue | 2,348 | 2,444 | -3.9% | | **Total Revenue** | **232,038** | **203,298** | **14.1%** | | Cost of Service | 59,657 | 51,920 | 14.9% | | Cost of Equipment | 27,864 | 25,916 | 7.5% | | Selling, General & Administrative Expenses | 51,938 | 43,599 | 19.1% | | Others | 1,531 | 1,279 | 19.7% | | **Total Costs and Expenses** | **140,990** | **122,714** | **14.9%** | | **EBITDA** | **91,048** | **80,584** | **13.0%** | | % of Total Revenue | 39.2% | 39.6% | | | Adjusted EBITDA | 91,048 | 80,328 | 13.3% | | % of Total Revenue | 39.2% | 39.6% | | | Depreciation & Amortization | 46,234 | 39,826 | 16.1% | | **EBIT** | **44,814** | **40,758** | **10.0%** | | % of Total Revenue | 19.3% | 20.0% | | | Comprehensive Financing Cost (Income) | 13,440 | 13,708 | -2.0% | | Income & Deferred Taxes | 11,687 | 11,161 | 4.7% | | **Net Income** | **18,703** | **13,494** | **38.6%** | [Balance Sheet](index=10&type=section&id=Balance%20Sheet) The consolidated balance sheet as of March 2025 shows a healthy increase in total assets and shareholder's equity, with current assets growing faster than current liabilities, indicating solid financial positioning Balance Sheet - América Móvil Consolidated (Millions of Mexican Pesos) | Category | Mar '25 | Dec '24 | Var.% | | :------------------------------------ | :-------- | :-------- | :------ | | **Current Assets** | **384,574** | **353,698** | **8.7%** | | Cash, Marketable Securities & Other Short Term Investments | 88,363 | 83,336 | 6.0% | | Accounts Receivable | 242,528 | 231,791 | 4.6% | | Other Current Assets | 26,344 | 14,820 | 77.8% | | Inventories | 27,339 | 23,751 | 15.1% | | **Non Current Assets** | **1,481,452** | **1,440,223** | **2.9%** | | Plant & Equipment, net | 724,272 | 713,784 | 1.5% | | Rights of Use | 206,958 | 199,460 | 3.8% | | Goodwill (Net) | 162,203 | 156,836 | 3.4% | | Intangible Assets | 148,173 | 141,737 | 4.5% | | Deferred Assets | 220,360 | 210,818 | 4.5% | | **Total Assets** | **1,866,024** | **1,793,921** | **4.0%** | | **Current Liabilities** | **540,926** | **494,401** | **9.4%** | | Short Term Debt | 122,974 | 104,211 | 18.0% | | Lease-Related Debt (Current) | 36,302 | 35,437 | 2.4% | | Accounts Payable | 149,797 | 155,697 | -3.8% | | Other Current Liabilities | 231,852 | 199,056 | 16.5% | | **Non Current Liabilities** | **880,302** | **867,336** | **1.5%** | | Long Term Debt | 465,263 | 463,375 | 0.4% | | Lease-Related Debt (Non-Current) | 185,013 | 177,666 | 4.1% | | Other Liabilities | 230,026 | 226,294 | 1.6% | | **Shareholder's Equity** | **444,796** | **432,184** | **2.9%** | | **Total Liabilities and Equity** | **1,866,024** | **1,793,921** | **4.0%** | [Mexico Operations](index=11&type=section&id=Mexico) [Subscriber and Access Line Performance](index=11&type=section&id=Mexico%20Subscriber%20and%20Access%20Line%20Performance) Mexico's operations saw strong postpaid and broadband additions in Q1 2025, despite a decline in prepaid subscribers, maintaining a significant market share in both mobile and fixed-line segments - Gained **133 thousand postpaid subscribers** but disconnected **821 thousand prepaid subs**, resulting in **83.9 million wireless subscribers**[38](index=38&type=chunk) - Broadband net additions were strong at **165 thousand**, bringing the fixed-line base to **22.1 million RGUs**[39](index=39&type=chunk) Mexico Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :------- | :------- | :------ | | Wireless Subscribers (thousands) | 83,925 | 83,994 | -0.1% | | - Postpaid | 15,583 | 15,103 | 3.2% | | - Prepaid | 68,341 | 68,891 | -0.8% | | ARPU (MXN) | 178 | 176 | 0.8% | | Churn (%) | 3.3% | 3.1% | 0.1 | | Revenue Generating Units (RGUs) | 22,090 | 21,598 | 2.3% | | - Broadband | 11,374 | 10,814 | 5.2% | [Financial Performance](index=11&type=section&id=Mexico%20Financial%20Performance) Mexico's Q1 2025 revenue declined due to equipment sales, but service revenue showed growth, particularly in broadband, while EBITDA saw a slight decrease after adjustments Mexico Income Statement (Millions of MXN) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :------- | :------- | :------ | | Total Revenue | 82,107 | 83,998 | -2.3% | | Total Service Revenue | 66,124 | 65,450 | 1.0% | | - Wireless Service Revenue | 44,754 | 44,392 | 0.8% | | - Fixed Line Revenue | 21,454 | 21,126 | 1.6% | | EBITDA | 34,409 | 35,641 | -3.5% | | Adjusted EBITDA | 34,409 | 35,385 | -2.8% | | EBITDA % total revenue | 41.9% | 42.3% | | - Broadband revenue expanded **6.9%**, its best performance in three quarters[40](index=40&type=chunk) - Postpaid revenue growth was stable at **5.5%**, while prepaid revenue declined **2.5%** due to economic deceleration and a **2.2% ARPU decline**[40](index=40&type=chunk) [Brazil Operations](index=13&type=section&id=Brazil) [Subscriber and Access Line Performance](index=13&type=section&id=Brazil%20Subscriber%20and%20Access%20Line%20Performance) Brazil's Q1 2025 saw strong postpaid subscriber additions, contributing to a stable wireless base, while fixed-line RGUs declined slightly due to fewer landlines and PayTV accesses, offset by broadband growth - Added **987 thousand postpaid subscribers**, but disconnected **545 thousand prepaid subs**, resulting in **87.6 million wireless subscribers**[47](index=47&type=chunk) - Fixed-line RGUs were down **125 thousand**, with broadband accesses up **98 thousand**[47](index=47&type=chunk) Brazil Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :------- | :------- | :------ | | Wireless Subscribers (thousands) | 87,587 | 87,652 | -0.1% | | - Postpaid | 54,883 | 52,043 | 5.5% | | - Prepaid | 32,704 | 35,609 | -8.2% | | ARPU (BRL) | 26 | 24 | 8.7% | | Churn (%) | 2.4% | 2.4% | (0.0) | | Revenue Generating Units (RGUs) | 22,265 | 22,879 | -2.7% | | - Broadband | 10,378 | 10,083 | 2.9% | [Financial Performance](index=13&type=section&id=Brazil%20Financial%20Performance) Brazil's Q1 2025 revenue increased, driven by strong mobile service revenue growth, particularly in postpaid, and a significant rise in EBITDA due to operating leverage and cost controls Brazil Income Statement (Millions of BRL) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :------- | :------- | :------ | | Total Revenue | 12,460 | 11,728 | 6.2% | | Total Service Revenue | 11,865 | 11,190 | 6.0% | | - Wireless Service Revenue | 6,782 | 6,236 | 8.8% | | - Fixed Line Revenue | 5,082 | 4,955 | 2.6% | | EBITDA | 5,491 | 5,080 | 8.1% | | EBITDA % total revenue | 44.1% | 43.3% | | - Mobile service revenue grew **8.8%**, with postpaid revenue expanding **11.5%**[48](index=48&type=chunk) - Corporate networks revenue surged **16.4%**, contributing significantly despite representing **11.4%** of service revenue[48](index=48&type=chunk) [Colombia Operations](index=15&type=section&id=Colombia) [Subscriber and Access Line Performance](index=15&type=section&id=Colombia%20Subscriber%20and%20Access%20Line%20Performance) Colombia's Q1 2025 saw robust mobile subscriber growth, particularly in postpaid, and an increase in fixed-line RGUs across all services, supported by 5G network expansion - Added **297 thousand mobile subscribers** (**163 thousand postpaid**), reaching **41.3 million wireless subs**, up **3.8% YoY**[56](index=56&type=chunk) - Fixed-line base reached **9.6 million RGUs**, with gains in landlines (**20k**), broadband (**15k**), and PayTV (**7k**)[56](index=56&type=chunk) Colombia Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :------- | :------- | :------ | | Wireless Subscribers (thousands) | 41,250 | 39,744 | 3.8% | | - Postpaid | 11,025 | 10,343 | 6.6% | | - Prepaid | 30,225 | 29,401 | 2.8% | | ARPU (COP) | 14,980 | 14,701 | 1.9% | | Churn (%) | 3.0% | 3.3% | (0.3) | | Revenue Generating Units (RGUs) | 9,625 | 9,487 | 1.5% | [Financial Performance](index=15&type=section&id=Colombia%20Financial%20Performance) Colombia's Q1 2025 revenue increased, driven by strong mobile service revenue growth and equipment sales, while fixed-line service revenue showed growth after adjusting for an extraordinary prior-year contract Colombia Income Statement (Billions of COP) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :----- | :----- | :------ | | Total Revenue | 4,015 | 3,793 | 5.9% | | Total Service Revenue | 3,051 | 2,951 | 3.4% | | - Wireless Service Revenue | 1,836 | 1,732 | 6.0% | | - Fixed Line Revenue | 1,262 | 1,242 | 1.6% | | EBITDA | 1,587 | 1,550 | 2.4% | | EBITDA % total revenue | 39.5% | 40.9% | | - Mobile service revenue grew **6.0%**, marking the fifth consecutive quarter of sequential improvements, driven by upselling clients to better value plans on the back of expanded 5G footprint[57](index=57&type=chunk) - Adjusted for an extraordinary government contract in Q1 2024, broadband revenue increased by **7.7%**, leading to **3.1% fixed-line service revenue growth**[58](index=58&type=chunk) [Other South America Operations](index=17&type=section&id=Other%20South%20America) [Peru Operations](index=17&type=section&id=Peru%20Operations) [Subscriber and Access Line Performance](index=17&type=section&id=Peru%20Subscriber%20and%20Access%20Line%20Performance) Peru's Q1 2025 saw net wireless subscriber additions, primarily in postpaid, and growth in fixed-line RGUs driven by broadband and PayTV, despite a reduction in landlines - Achieved **63 thousand net wireless additions** (**129 thousand postpaid gains**), reaching **12.8 million wireless subscribers**[64](index=64&type=chunk) - Gained **18 thousand broadband accesses** and **five thousand PayTV units**, with fixed-line RGUs just under **two million**[64](index=64&type=chunk) Peru Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :------- | :------- | :------ | | Wireless Subscribers (thousands) | 12,749 | 12,645 | 0.8% | | - Postpaid | 6,510 | 6,098 | 6.8% | | - Prepaid | 6,239 | 6,547 | -4.7% | | ARPU (PEN) | 26 | 25 | 4.2% | | Churn (%) | 4.1% | 4.1% | (0.0) | | Revenue Generating Units (RGUs) | 1,953 | 1,886 | 3.6% | [Financial Performance](index=17&type=section&id=Peru%20Financial%20Performance) Peru's Q1 2025 revenue increased, driven by strong mobile service revenue growth, particularly in prepaid, and a significant rise in EBITDA due to operating leverage and cost reduction efforts Peru Income Statement (Millions of PEN) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :----- | :----- | :------ | | Total Revenue | 1,655 | 1,607 | 3.0% | | Total Service Revenue | 1,324 | 1,267 | 4.5% | | - Wireless Service Revenue | 1,003 | 948 | 5.8% | | - Fixed Line Revenue | 321 | 319 | 0.6% | | EBITDA | 657 | 608 | 8.0% | | EBITDA % total revenue | 39.7% | 37.8% | | - Mobile prepaid revenue showed more dynamism, rising **8.3% YoY**, while postpaid revenue growth remained strong at **5.0%**[65](index=65&type=chunk) - Fixed-line service revenue was up **0.6% annually**, with corporate networks and broadband revenue growing **4.1%** and **3.5%** respectively[65](index=65&type=chunk) [Ecuador Operations](index=19&type=section&id=Ecuador%20Operations) [Subscriber and Access Line Performance](index=19&type=section&id=Ecuador%20Subscriber%20and%20Access%20Line%20Performance) Ecuador's Q1 2025 saw net wireless subscriber gains and significant year-on-year growth in fixed-line RGUs, driven by additions in landlines and broadband accesses - Achieved **87 thousand net subscriber gains**, bringing the wireless base to nearly **ten million subs**, up **5% YoY**[71](index=71&type=chunk) - Fixed-line RGUs increased by **10.7% YoY** to **620 thousand accesses**, with **13 thousand landlines** and **11 thousand broadband accesses** added[71](index=71&type=chunk) Ecuador Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :----- | :----- | :------ | | Wireless Subscribers (thousands) | 9,949 | 9,479 | 5.0% | | - Postpaid | 2,297 | 2,276 | 0.9% | | - Prepaid | 7,652 | 7,204 | 6.2% | | ARPU (USD) | 7 | 7 | -5.1% | | Churn (%) | 3.8% | 3.0% | 0.9 | | Revenue Generating Units (RGUs) | 620 | 560 | 10.7% | [Financial Performance](index=19&type=section&id=Ecuador%20Financial%20Performance) Ecuador's Q1 2025 revenue saw a slight increase, with service revenue declining due to postpaid contraction, but EBITDA grew due to cost control initiatives, maintaining a stable EBITDA margin Ecuador Income Statement (Millions of USD) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :----- | :----- | :------ | | Total Revenue | 254 | 251 | 1.3% | | Total Service Revenue | 223 | 224 | -0.4% | | - Wireless Service Revenue | 196 | 197 | -0.5% | | - Fixed Line Revenue | 28 | 27 | 2.4% | | EBITDA | 124 | 122 | 1.5% | | EBITDA % total revenue | 48.7% | 48.7% | | - Mobile postpaid revenue fell **2.7%**, partially offset by a **2.8% rise in prepaid revenue**[72](index=72&type=chunk) - Fixed-line service revenue was **0.8% higher**, supported by corporate networks and PayTV services[72](index=72&type=chunk) [Southern Cone Operations](index=21&type=section&id=Southern%20Cone) [Overall Subscriber and Access Line Performance](index=21&type=section&id=Southern%20Cone%20Overall%20Subscriber%20and%20Access%20Line%20Performance) The Southern Cone region experienced significant growth in wireless subscribers, particularly postpaid, and an increase in fixed-line RGUs in Q1 2025 - Added **426 thousand wireless subscribers** (**266 thousand postpaid clients**), bringing the wireless base to **35.5 million subs**, up **6.8% YoY**[79](index=79&type=chunk) - Fixed-line RGUs increased by **56 thousand accesses**, reaching **7.1 million**, up **4.1% YoY**[79](index=79&type=chunk) Southern Cone Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :------- | :------- | :------ | | Wireless Subscribers (thousands) | 35,486 | 33,226 | 6.8% | | - Postpaid | 14,610 | 13,858 | 5.4% | | - Prepaid | 20,876 | 19,368 | 7.8% | | Churn (%) | 2.2% | 2.4% | (0.2) | | Revenue Generating Units (RGUs) | 7,117 | 6,838 | 4.1% | [Argentina Financial Performance](index=21&type=section&id=Argentina%20Financial%20Performance) Argentina's Q1 2025 financial performance showed accelerated revenue growth, particularly in service revenue, and a significant surge in EBITDA, reflecting improved economic activity and consumer spending - All figures for Argentina are presented in constant peso terms, adjusted for inflation in accordance with **IAS29**[80](index=80&type=chunk) Argentina Income Statement (Millions of Constant ARS as of March 2025) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :------- | :------- | :------ | | Total Revenue | 589,836 | 459,381 | 28.4% | | Total Service Revenue | 524,723 | 394,686 | 32.9% | | - Mobile Service Revenue | 414,019 | 314,042 | 31.8% | | - Fixed Line Revenue | 110,703 | 80,644 | 37.3% | | EBITDA | 237,338 | 175,447 | 35.3% | | EBITDA % total revenue | 40.2% | 38.2% | | - Mobile prepaid service revenue nearly doubled, and postpaid revenue growth accelerated from **15.8% to 18.9%**[82](index=82&type=chunk) - PayTV revenue jumped **71.9%** and broadband revenue was up **50.9%**[82](index=82&type=chunk) [Chile, Paraguay & Uruguay Financial Performance](index=21&type=section&id=Chile,%20Paraguay%20%26%20Uruguay%20Financial%20Performance) The combined operations of Chile, Paraguay, and Uruguay saw a slight increase in total revenue in Q1 2025, with mobile service revenue growth offsetting a decline in fixed-line revenue, leading to a significant EBITDA expansion Chile, Paraguay & Uruguay Income Statement (Millions of Chilean Pesos) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :------- | :------- | :------ | | Total Revenue | 314,459 | 307,252 | 2.3% | | Total Service Revenue | 276,343 | 278,357 | -0.7% | | EBITDA | 60,678 | 41,552 | 46.0% | | EBITDA % total revenue | 19.3% | 13.5% | | - Mobile service revenue increased **5.6%** (postpaid **+6.0%**, prepaid **+1.1%**), but fixed-line revenue declined **5.1%**[84](index=84&type=chunk) - EBITDA expanded **46.0%**, with the margin jumping **5.8 percentage points** to **19.3% of revenue**[85](index=85&type=chunk) [Central America and The Caribbean Operations](index=23&type=section&id=Central%20America%20and%20The%20Caribbean) [Central America Operations](index=23&type=section&id=Central%20America%20Operations) [Subscriber and Access Line Performance](index=23&type=section&id=Central%20America%20Subscriber%20and%20Access%20Line%20Performance) Central America's Q1 2025 saw strong wireless subscriber additions, particularly postpaid, and accelerated fixed-line RGU growth, recovering from a prior-year cybersecurity incident - Achieved **146 thousand net wireless subscriber additions** (**85 thousand postpaid**), bringing the base to **17.4 million subs**, up **4.0% YoY**[90](index=90&type=chunk) - Gained **107 thousand RGUs** in the fixed-line platform, including **52 thousand broadband accesses** and **33 thousand PayTV units**[90](index=90&type=chunk) Central America Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :------- | :------- | :------ | | Wireless Subscribers (thousands) | 17,386 | 17,241 | 4.0% | | - Postpaid | 2,878 | 2,628 | 9.5% | | - Prepaid | 14,508 | 14,089 | 3.0% | | ARPU (USD) | 8 | 7 | 16.5% | | Churn (%) | 5.4% | 5.9% | (0.4) | | Revenue Generating Units (RGUs) | 5,310 | 4,963 | 7.0% | [Financial Performance](index=23&type=section&id=Central%20America%20Financial%20Performance) Central America's Q1 2025 revenue surged, driven by strong mobile and fixed-line service revenue growth, leading to a significant increase in EBITDA and margin expansion, reflecting recovery from a prior-year cybersecurity incident - Q1 2024 figures were affected by a cybersecurity incident; current growth rates reflect this impact, but service revenue growth has been steady at **~8% YoY** over the last three quarters[91](index=91&type=chunk) Central America Income Statement (Millions of USD) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :----- | :----- | :------ | | Total Revenue | 702 | 603 | 16.4% | | Total Service Revenue | 623 | 541 | 15.3% | | - Wireless Service Revenue | 423 | 353 | 19.8% | | - Fixed Line Revenue | 201 | 191 | 5.0% | | EBITDA | 330 | 244 | 35.4% | | EBITDA % total revenue | 47.1% | 40.5% | | - Mobile service revenue surged **19.8%** (postpaid **+13.9%**, prepaid **+24.5%**), and fixed-line service revenue grew **7.0%** (corporate networks **+11.0%**, broadband **+10.1%**)[91](index=91&type=chunk)[92](index=92&type=chunk) [The Caribbean Operations](index=25&type=section&id=The%20Caribbean%20Operations) [Subscriber and Access Line Performance](index=25&type=section&id=The%20Caribbean%20Subscriber%20and%20Access%20Line%20Performance) The Caribbean region achieved net wireless subscriber gains and an increase in fixed-line RGUs in Q1 2025, contributing to overall access line growth - Achieved net gains of **90 thousand wireless subscribers** (**28 thousand postpaid clients**), reaching **eight million wireless subscribers**[100](index=100&type=chunk) - Fixed-line RGUs increased by **18 thousand** to **2.9 million**[100](index=100&type=chunk) The Caribbean Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :----- | :----- | :------ | | Wireless Subscribers (thousands) | 8,000 | 7,668 | 4.3% | | - Postpaid | 2,342 | 2,261 | 3.6% | | - Prepaid | 5,657 | 5,408 | 4.6% | | ARPU (USD) | 10 | 11 | -8.9% | | Churn (%) | 3.0% | 3.2% | -0.2 | | Revenue Generating Units (RGUs) | 2,861 | 2,800 | 2.1% | [Dominican Republic & Puerto Rico Financial Performance](index=25&type=section&id=Dominican%20Republic%20%26%20Puerto%20Rico%20Financial%20Performance) In Q1 2025, the Dominican Republic saw revenue and EBITDA growth driven by fixed-line services, while Puerto Rico experienced revenue and EBITDA declines due to phasing out government subsidies The Caribbean Income Statement (Millions of USD) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :----- | :----- | :------ | | Total Revenue | 474 | 486 | -2.3% | | Total Service Revenue | 420 | 426 | -1.4% | | - Wireless Service Revenue | 238 | 251 | -5.0% | | - Fixed Line Revenue | 183 | 179 | 2.5% | | EBITDA | 171 | 182 | -6.0% | | EBITDA % total revenue | 36.0% | 37.5% | | - Dominican Republic: Revenue increased **4.8%**, service revenue grew **5.3%** (fixed-line service **+10.1%**, broadband **+11.6%**), and EBITDA increased **4.3%** with a **51.8% margin**[101](index=101&type=chunk) - Puerto Rico: Revenue fell **4.1%**, service revenue contracted **2.9%** (mobile service **-7.2%**, fixed-line **+2.9%**), and EBITDA declined **19.7%** with a **17.2% margin** due to phasing out government subsidies[102](index=102&type=chunk) [Austria & Eastern Europe Operations](index=27&type=section&id=Austria%20%26%20Eastern%20Europe) [Subscriber and Access Line Performance](index=27&type=section&id=Austria%20%26%20Eastern%20Europe%20Subscriber%20and%20Access%20Line%20Performance) Austria & Eastern Europe saw significant wireless subscriber additions, primarily M2M units, and growth in fixed-line RGUs, driven by broadband and PayTV in Eastern Europe - Added **465 thousand net subscribers**, primarily M2M units from A1 Digital, bringing the combined wireless base to **28 million subs**[109](index=109&type=chunk) - Fixed-line RGUs increased to **6.4 million** after adding **26 thousand units**, all broadband accesses and PayTV in Eastern Europe[109](index=109&type=chunk) Austria & Eastern Europe Operating Data (Q1 2025 vs Q1 2024) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------------- | :------- | :------- | :------ | | Wireless Subscribers (thousands) | 27,588 | 25,440 | 8.4% | | - Postpaid | 24,022 | 21,817 | 10.1% | | - Prepaid | 3,566 | 3,624 | -1.6% | | ARPU (EUR) | 8 | 8 | -5.0% | | Churn (%) | 1.2% | 1.3% | (0.1) | | Revenue Generating Units (RGUs) | 6,378 | 6,267 | 1.8% | [Financial Performance](index=27&type=section&id=Austria%20%26%20Eastern%20Europe%20Financial%20Performance) Austria & Eastern Europe reported revenue growth in Q1 2025, driven by strong service revenue expansion in Eastern Europe and fixed-line services, leading to an increase in EBITDA and margin improvement Austria & Eastern Europe Income Statement (Millions of EUR) | Metric | 1Q25 | 1Q24 | Var.% | | :-------------------- | :----- | :----- | :------ | | Total Revenue | 1,314 | 1,267 | 3.7% | | Total Service Revenue | 1,108 | 1,071 | 3.5% | | - Wireless Service Revenue | 615 | 596 | 3.2% | | - Fixed Line Revenue | 519 | 495 | 4.9% | | EBITDA | 478 | 454 | 5.2% | | EBITDA % total revenue | 36.4% | 35.9% | | - Service revenue for the Eastern European block expanded **8.2% annually**, while Austria's service revenue was slightly lower due to strong competition[110](index=110&type=chunk) - Fixed-line revenue increased **3.8%**, supported by broadband (**+7.2%**) and corporate networks (**+5.9%**) revenue[111](index=111&type=chunk) [Currency Exchange Rates](index=29&type=section&id=Currency%20Exchange%20Rates) [Local Currency Units per MXP](index=29&type=section&id=Local%20Currency%20Units%20per%20MXP) This section details the exchange rates of various local currencies against the Mexican Peso (MXP) for Q1 2025 compared to Q1 2024, showing significant depreciation of MXP against most currencies Exchange Rates: Local Currency Units per MXP | Currency | Period | 1Q25 | 1Q24 | Var.% | | :-------------------- | :------- | :----- | :----- | :------ | | Euro | End of Period | 0.0455 | 0.0554 | -17.8% | | Euro | Average | 0.0465 | 0.0542 | -14.1% | | US Dollar | End of Period | 0.0492 | 0.0600 | -17.9% | | US Dollar | Average | 0.0490 | 0.0588 | -16.8% | | Brazilian Real | End of Period | 0.2826 | 0.2989 | -5.5% | | Brazilian Real | Average | 0.2866 | 0.2913 | -1.6% | | Argentinean Peso | End of Period | 52.8590 | 51.4450 | 2.7% | | Argentinean Peso | Average | 51.7295 | 49.0801 | 5.4% | | Chilean Peso | End of Period | 46.9072 | 58.9027 | -20.4% | | Chilean Peso | Average | 47.2068 | 55.6380 | -15.2% | | Colombian Peso | End of Period | 206.3455 | 231.8006 | -11.0% | | Colombian Peso | Average | 205.3524 | 230.4679 | -10.9% | | Guatemalan Quetzal | End of Period | 0.3795 | 0.4672 | -18.8% | | Guatemalan Quetzal | Average | 0.3776 | 0.4595 | -17.8% | | Peruvian Sol | End of Period | 0.1810 | 0.2231 | -18.9% | | Peruvian Sol | Average | 0.1814 | 0.2213 | -18.0% | | Dominican Republic Peso | End of Period | 3.1243 | 3.5550 | -12.1% | | Dominican Republic Peso | Average | 3.0546 | 3.4726 | -12.0% | | Belarusian Ruble | End of Period | 0.1534 | 0.1648 | -6.9% | | Belarusian Ruble | Average | 0.1496 | 0.1617 | -7.5% | [Local Currency Units per USD](index=30&type=section&id=Local%20Currency%20Units%20per%20USD) This section presents the exchange rates of various local currencies against the U.S. Dollar (USD) for Q1 2025 compared to Q1 2024, indicating appreciation of USD against most regional currencies, except for the Euro Exchange Rates: Local Currency Units per USD | Currency | Period | 1Q25 | 1Q24 | Var.% | | :-------------------- | :------- | :------- | :------- | :------ | | Euro | End of Period | 0.9246 | 0.9235 | 0.1% | | Euro | Average | 0.9506 | 0.9211 | 3.2% | | Mexican Peso | End of Period | 20.3182 | 16.6780 | 21.8% | | Mexican Peso | Average | 20.4244 | 16.9980 | 20.2% | | Brazilian Real | End of Period | 5.7422 | 4.9856 | 15.2% | | Brazilian Real | Average | 5.8527 | 4.9512 | 18.2% | | Argentinean Peso | End of Period | 1,074.0000 | 858.0000 | 25.2% | | Argentinean Peso | Average | 1,056.5442 | 834.2619 | 26.6% | | Chilean Peso | End of Period | 953.0700 | 982.3800 | -3.0% | | Chilean Peso | Average | 964.1709 | 945.7333 | 1.9% | | Colombian Peso | End of Period | 4,192.5700 | 3,865.9700 | 8.4% | | Colombian Peso | Average | 4,194.2008 | 3,917.4854 | 7.1% | | Guatemalan Quetzal | End of Period | 7.7117 | 7.7917 | -1.0% | | Guatemalan Quetzal | Average | 7.7121 | 7.8108 | -1.3% | | Peruvian Sol | End of Period | 3.6770 | 3.7210 | -1.2% | | Peruvian Sol | Average | 3.7046 | 3.7621 | -1.5% | | Dominican Republic Peso | End of Period | 63.4800 | 59.2900 | 7.1% | | Dominican Republic Peso | Average | 62.3876 | 59.0274 | 5.7% | [Appendix A - Financial Debt](index=31&type=section&id=Appendix) [Consolidated Financial Debt](index=31&type=section&id=Consolidated%20Financial%20Debt) América Móvil's consolidated financial debt increased slightly in Q1 2025, with a significant portion denominated in Mexican Pesos and U.S. Dollars, while maintaining a healthy net debt position after accounting for cash and marketable securities Financial Debt of América Móvil (Millions) | Debt Type | Mar -25 | Dec -24 | | :------------------------------------------------- | :-------- | :-------- | | Peso - denominated debt (MXN) | 131,757 | 130,585 | | U.S. Dollar - denominated debt (USD) | 10,090 | 10,254 | | Euro - denominated Debt (EUR) | 4,498 | 4,318 | | Sterling - denominated Debt (GBP) | 2,200 | 2,200 | | Reais - denominated Debt (BRL) | 10,000 | 10,000 | | Debt denominated in other currencies (MXN) | 59,494 | 50,852 | | **Total Debt (MXN)** | **588,237** | **568,482** | | Cash, Marketable Securities and Short Term Financial Investments (MXN) | 88,363 | 83,336 | | **Net Debt (MXN)** | **499,874** | **485,146** | - The table includes financial debt of Telekom Austria and does not include the effect of forwards and derivatives used to hedge foreign exchange exposure[121](index=121&type=chunk) [Glossary of Terms](index=32&type=section&id=Glossary) [Glossary of Terms](index=32&type=section&id=Glossary%20of%20Terms) This section provides definitions for key financial and operational terms used throughout the report, ensuring clarity and consistent understanding of América Móvil's performance metrics - Definitions include **ARPU** (Average Revenue per User), **Capex** (Capital Expenditure), **Churn** (Disconnection Rate), **EBIT** (Earnings Before Interest and Taxes), **EBITDA** (Earnings Before Interest, Taxes, Depreciation, and Amortization), **EBITDAaL** (EBITDA Adjusted after lease payments), **EPS** (Earnings per share), **Market share**, **MBOU** (Megabytes of Use per subscriber), **Net subscriber additions**, **Net debt**, **Net debt/EBITDA**, **Prepaid**, **Postpaid**, **SAC** (Subscriber Acquisition Cost), and **Wireless penetration**[125](index=125&type=chunk)[127](index=127&type=chunk) [Signature](index=34&type=section&id=SIGNATURE) [Signature](index=34&type=section&id=Signature) This section formally certifies the report's submission to the Securities Exchange Act of 1934, signed by the Chief Financial Officer of América Móvil, S.A.B. de C.V - The report was duly caused to be signed on behalf of **AMÉRICA MÓVIL, S.A.B. DE C.V.** by **Carlos José García Moreno Elizondo**, Chief Financial Officer[130](index=130&type=chunk)[131](index=131&type=chunk) - Date of signature: **April 30, 2025**[131](index=131&type=chunk)

Group 1: Earnings Performance - Amer Movil reported quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.32 per share, but showing an increase from $0.25 per share a year ago, resulting in an earnings surprise of -6.25% [1] - The company posted revenues of $11.36 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.68%, although this represents a decline from year-ago revenues of $11.98 billion [2] - Over the last four quarters, Amer Movil has not surpassed consensus EPS estimates, but has topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - Amer Movil shares have increased by approximately 19.9% since the beginning of the year, contrasting with the S&P 500's decline of -5.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.34 on revenues of $11.26 billion, and $1.45 on revenues of $46.4 billion for the current fiscal year [7] Group 3: Industry Context - The Wireless Non-US industry, to which Amer Movil belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

Core Insights - Michael Dion is an expert in FP&A, Corporate Finance, and Small Business with 12 years of experience in Fortune 100 companies and various industries [1] - He founded F9 Finance to assist finance professionals and small business owners in understanding finance and accounting concepts [1] - Dion's investment strategy focuses on identifying value opportunities where market reactions to news are disproportionate, emphasizing strong fundamentals and dividends [1] Industry and Company Analysis - Dion has finance experience across multiple sectors including Telecom, Media and Entertainment, Hospitality, and Construction [1] - His approach highlights the importance of cash flow for both companies and investors, indicating a focus on financial health and sustainability [1]

Financial Data and Key Metrics Changes - The fourth quarter revenue increased by 18% in Mexican peso terms to MXN 237 billion, with service revenue growing by 19.1% and EBITDA by 16.4% to MXN 91 billion [9][12][15] - Net income for the fourth quarter was MXN 9.5 billion, a decrease of 47.5% year-on-year due to higher comprehensive financing costs, totaling MXN 30 billion, with nearly half attributed to foreign exchange losses [15][16] - Net debt at the end of the year stood at MXN 488 billion, with a net debt to EBITDA ratio of 1.44x [16][17] Business Line Data and Key Metrics Changes - Postpaid subscribers increased by 2.1 million in the fourth quarter, with Brazil contributing 655,000, Colombia 178,000, and Mexico 141,000 [7][9] - Prepaid platform saw a net disconnection of 1.3 million, with Brazil losing 1.8 million but Mexico gaining 302,000 [8][9] - Fixed line segment added 320,000 broadband accesses, with 132,000 in Mexico, 75,000 in Brazil, and 45,000 in Argentina [8] Market Data and Key Metrics Changes - The Brazilian real depreciated by 13.7% against the dollar, followed by the Chilean peso at 11% and the euro at 7% [6] - Mobile service revenue grew by 6.2% year-on-year in the fourth quarter, with fixed line service revenue climbing 7.4% [13][14] Company Strategy and Development Direction - The company is focused on modernizing networks and expanding 5G coverage, particularly in Chile, with a CapEx guidance of around $250 million for 2025 [23][120] - The management expressed confidence in the corporate segment, expecting it to grow significantly, with a focus on adding value through bundled services [48][80] Management's Comments on Operating Environment and Future Outlook - Management noted a stronger-than-expected labor market and economic activity, leading to revisions in expectations regarding future policy rate reductions by the Fed [6] - The company is cautious about the economic slowdown affecting prepaid recharges, particularly in Mexico [60][128] Other Important Information - The company plans to begin reporting Chilean results in the first quarter of 2025, consolidating ClaroVTR's operations [119] - The pension plan outflows are expected to decline over the next decade as fewer people are being pensioned [84] Q&A Session Summary Question: CapEx guidance for the year and concerns about the MVNO deal with Nubank - Management confirmed they are on track with the three-year CapEx guidance, including Chile, and expressed no concerns about potential cannibalization from the Nubank deal [22][25] Question: CapEx guidance and competitive environment in Brazil - Management stated they expect to remain at the low end of the CapEx guidance and noted a stable competitive environment in Brazil [30][31] Question: Pricing environment for Mexican broadband and M&A appetite in Argentina - Management indicated no plans to increase prices for broadband and stated they are open to M&A opportunities in Argentina but have not engaged in discussions [44][52] Question: Prepaid revenue trends and competitive dynamics in Mexico - Management reported stable competition in prepaid and noted a slowdown in the economy affecting recharge trends [60][128] Question: Regulatory environment in Mexico and Telmex's broadband goals - Management acknowledged the new regulatory environment and expressed a desire to regain market share in broadband [68][70] Question: Growth in corporate networks and pension plan outflows - Management reported a 12.3% growth in corporate networks and expects pension outflows to decline in the future [80][84] Question: Mobile competition in Brazil and debt profile - Management described the competitive landscape in Brazil as stable and detailed their approach to managing debt exposure [98][104]

Core Insights - America Movil reported a net income per ADR of 15 cents for Q4 2024, a decrease from 33 cents in the same quarter last year, missing the Zacks Consensus Estimate by 51.6% [1][2] - The company's total quarterly revenues increased by 18% to Mex$236,940 million, driven by strong performance in both Service and Equipment segments [4] - The company gained 852,000 wireless subscribers in Q4, with a net increase of 2.1 million postpaid subscribers, while the prepaid segment saw a decline of 1.3 million users [5] Financial Performance - Net income for the quarter was Mex$9,480 million, down from Mex$18,062 million in the prior-year quarter [2] - Comprehensive financing costs rose by 91.2% to Mex$29,850 million from Mex$15,609 million in the previous year [2] - Total costs and expenses increased by 19.1% to Mex$145,832 million, while EBITDA rose by 16.4% to Mex$91,108 million, resulting in an EBITDA margin of 38.5% [10] Subscriber and Revenue Growth - The company ended Q4 with 323 million wireless subscribers and 78 million revenue-generating units in fixed-line, Broadband, and Television platforms [5] - Argentina's revenues increased by 20.2% to ARS 547,884 million, while Colombia's revenues rose by 12.2% to COP 4,360 billion [7][8] - Revenues from the Caribbean declined by 5.2% to $476 million due to macroeconomic pressures [6] Market Performance - Following the earnings announcement, America Movil's shares gained 1.2%, closing at $14.72 on February 11, 2025, although the stock has lost 12.7% over the past year [3]

Earnings Performance - Amer Movil reported quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.31 per share, and down from $0.33 per share a year ago, representing an earnings surprise of -51.61% [1] - The company posted revenues of $11.8 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.81%, compared to year-ago revenues of $11.45 billion [2] Stock Performance and Outlook - Amer Movil shares have increased by approximately 2.9% since the beginning of the year, while the S&P 500 has gained 3.2% [3] - The company's earnings outlook is mixed, with current consensus EPS estimates of $0.45 for the coming quarter and $1.60 for the current fiscal year, with revenues expected to be $11.15 billion and $45.42 billion respectively [7] Industry Context - The Wireless Non-US industry, to which Amer Movil belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Amer Movil's stock performance [5]

Core Viewpoint - Amer Movil (AMX) is anticipated to report a year-over-year decline in earnings despite an increase in revenues for the quarter ended December 2024, with actual results being a significant factor influencing its near-term stock price [1][2]. Financial Expectations - The consensus estimate for Amer Movil's quarterly earnings is $0.31 per share, reflecting a year-over-year decrease of 6.1%. Revenues are projected to be $11.71 billion, which is a 2.3% increase from the same quarter last year [3]. Estimate Revisions - Over the past 30 days, the consensus EPS estimate has been revised 15.39% higher, indicating a reassessment by analysts of their initial estimates [4]. - The Most Accurate Estimate aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the deviation of actual earnings from the consensus estimate, with a positive reading being a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [6][8]. Historical Performance - In the last reported quarter, Amer Movil was expected to post earnings of $0.41 per share but only achieved $0.11, resulting in a surprise of -73.17%. Over the last four quarters, the company has only beaten consensus EPS estimates once [12][13]. Conclusion - Amer Movil does not currently appear to be a strong candidate for an earnings beat, and investors should consider other factors when making decisions regarding this stock ahead of its earnings release [16].

Core Viewpoint - America Movil's recent earnings report shows a year-over-year increase in net income, but it missed analysts' expectations significantly, leading to a decline in share price over the past month [1][2]. Financial Performance - The net income per ADR for Q3 2024 was 11 cents, up from 4 cents in the prior year, but missed the Zacks Consensus Estimate by 73.17% [2]. - Total quarterly revenues increased by 9.6% to Mex$223,458 million, driven by growth in both Service and Equipment segments [3]. - Service revenues reached Mex$188,170 million, reflecting an 11.3% year-over-year increase, while Equipment revenues totaled Mex$32,247 million, up 3.7% [3]. Subscriber Growth - America Movil gained 1.8 million wireless subscribers in Q3, including 1.4 million postpaid subscribers, with Brazil, Mexico, and Colombia being the main contributors [4]. - The total number of wireless subscribers reached 315.8 million by the end of the third quarter [4]. Regional Performance - Ecuador experienced a revenue decline of 2.3% year-over-year to $253 million due to macroeconomic challenges [5]. - Argentina's revenues increased by 10% to ARS 493,726 million, driven by service revenue growth, despite a decline in equipment revenues [6]. - Colombia's revenues rose by 4.5% to COP 3,905 billion, supported by strong equipment revenue [7]. - Other regions, including Mexico, Brazil, Peru, Central America, and Other European countries, showed year-over-year revenue growth ranging from 2.3% to 7.5%, while Austria and the Caribbean saw slight declines [7]. Cost and Profitability - Total costs and expenses increased by 8.1% to Mex$134,036 million, while EBITDA rose by 11.9% to Mex$89,422 million, resulting in an EBITDA margin of 40% [8]. - Operating profit increased by 14.2% to Mex$47,443 million [8]. Liquidity Position - As of September 30, 2024, America Movil had Mex$82,809 million in cash and short-term investments, alongside Mex$428,167 million in long-term debt [9]. Analyst Sentiment - Analysts have not made any earnings estimate revisions in the past two months, indicating a period of stability in expectations [10]. - America Movil holds a Zacks Rank 3 (Hold), suggesting an expectation of an in-line return in the coming months [12]. Investment Scores - The company has a strong Growth Score of A, a lower Momentum Score of D, and an overall aggregate VGM Score of A, placing it in the top 20% for value investment strategy [11].

Financial Data and Key Metrics Changes - In Q3 2024, total revenue reached MXN 223 billion, with service revenue growing 11.3% in Mexican peso terms and EBITDA increasing by 11.9% [10][12] - Net profit for the quarter was MXN 6.4 billion, nearly tripling from the previous year, equivalent to MXN 0.10 per share or $0.11 per ADR [12] - Net debt at the end of September was MXN 433 billion, reflecting an increase of MXN 7.3 billion since December 2023 [13] Business Line Data and Key Metrics Changes - The company added 1.8 million subscribers in Q3, with 1.4 million being postpaid [8] - Mobile service revenue growth accelerated to 5.2%, while fixed line service revenue rose by 5.9% [11] - Broadband revenue growth decelerated slightly to 7.4%, while corporate networks revenue expanded by 10.1% [11] Market Data and Key Metrics Changes - In Mexico, prepaid segment net additions were 468,000, with Colombia leading at 251,000 [9] - Brazil and Colombia showed improved steady revenue growth, while Central America outperformed previous quarters [11] - The company experienced a slight increase in churn in Mexico attributed to economic conditions [31] Company Strategy and Development Direction - The company is focusing on upgrading its network to fiber, with 84% of customers now connected to fiber [20] - There are no current M&A plans, with a focus on organic growth and technology upgrades [52] - The company aims to maintain its competitive edge through digitalization and customer care improvements [52] Management's Comments on Operating Environment and Future Outlook - Management noted that prepaid revenue growth remains stable despite economic challenges, with postpaid revenues performing well [25][26] - The outlook for 2025 is positive, with expectations of continued growth in both prepaid and postpaid segments [23] - The company is optimistic about maintaining its market position and improving service quality across Latin America [58] Other Important Information - The company received its third ESG rating upgrade by MSCI, reflecting improvements in corporate governance and data security [13] - Capital expenditures for the year are on target at approximately $7.2 billion [17] Q&A Session Summary Question: Update on competitive dynamics in the fixed broadband market in Mexico - Management acknowledged increased competition, particularly from Telmex, which has upgraded its network significantly [18] Question: CapEx guidance for 2024 - The target remains around $7.2 billion, with no significant changes expected [17] Question: Trends in prepaid and postpaid subscriber activity - Prepaid activity is sensitive to economic conditions, while postpaid is performing well with upgrades and increased data offerings [23][25] Question: Competitive dynamics in Brazilian broadband - The company maintains a leading position in Brazil, with ongoing upgrades to deliver high-speed internet [31] Question: Net debt strategy and FX impacts - The company is not looking to take on additional debt and aims to maintain its leverage ratio [38] Question: CapEx plans for Chile - CapEx for Chile will be consolidated starting November, but no significant changes are expected [41] Question: Shareholder remuneration and CapEx direction amid currency depreciation - No changes are anticipated in shareholder remuneration or CapEx targets despite currency fluctuations [50] Question: M&A opportunities in Latin America - Currently, there are no M&A opportunities being pursued, with a focus on organic growth [52] Question: Pricing dynamics in mobile for Brazil - The focus will be on upselling rather than direct price hikes to enhance ARPU [56]

Core Insights - America Movil reported a net income per ADR of 11 cents for Q3 2024, an increase from 4 cents in the same quarter last year, but fell short of the Zacks Consensus Estimate by 73.17% [1] - Total quarterly revenues increased by 9.6% to Mex$223,458 million, driven by growth in both Service and Equipment segments [2] - The company gained 1.8 million wireless subscribers in Q3, including 1.4 million postpaid subscribers, with Brazil, Mexico, and Colombia being the main contributors [2] Financial Performance - Net income for the quarter was Mex$6,427 million, compared to Mex$2,028 million in the prior year [1] - Comprehensive financing costs decreased by 4.8% to Mex$28,323 million from Mex$29,740 million [1] - Total costs and expenses rose by 8.1% to Mex$134,036 million, while EBITDA increased by 11.9% to Mex$89,422 million, resulting in an EBITDA margin of 40% [6] Regional Performance - Revenues from Argentina increased by 10% to ARS 493,726 million, attributed to rising service revenues despite a decline in equipment revenues [4] - Colombia's revenues grew by 4.5% to COP 3,905 billion, driven by strong equipment sales [4] - Ecuador experienced a revenue decline of 2.3% to $253 million due to macroeconomic challenges [3] Subscriber Growth - The company ended the quarter with 315.8 million wireless subscribers, including 74.6 million revenue-generating units in fixed-line, Broadband, and Television platforms [2] Market Reaction - Following the earnings announcement, America Movil's shares rose by 2% in pre-market trading on October 16, 2024, although the stock has decreased by 4.1% over the past year [1]