Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

For the month of October, 2024

Commission File Number: 1-16269

 

 

AMÉRICA MÓVIL, S.A.B. DE C.V.

(Exact name of registrant as specified in its charter)

America Mobile

(Translation of Registrant´s name into English)

 

 

Lago Zurich 245

Plaza Carso / Edificio Telcel

Colonia Ampliación Granada

Alcaldía 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 Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒

Indicate by check mark whether the registrant by furnishing the information contained in this Form 6-K is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ☐ No ☒

 

 

 

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Mexico City - 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 2024.

 

 

 

•

We added 1.8 million subscribers in the third quarter, including 1.4 million postpaids. Brazil contributed with 291 thousand and Colombia with 159 thousand.

 

•

Our prepaid platform registered 468 thousand net additions, mostly from Colombia , Eastern Europe and Argentina, with 251 thousand, 213 thousand and 200 thousand, respectively.

 

•

In the fixed-line segment we connected 327 thousand new broadband accesses, with Mexico adding 116 thousand, followed by Brazil with 59 thousand, and Argentina with 44 thousand.

 

•

Third-quarter revenue totaled 223 billion pesos, with service revenue expanding 11.3% year-on-year in Mexican peso terms partly reflecting the year-on-year depreciation of the Mexican peso vs. the currencies in our region of operations except for the Brazilian real. At constant exchange rates service revenue rose 5.5%, an improvement on the 4.7% rate posted the prior quarter.

 

•

Mobile service revenue posted its best performance in over a year, along with the postpaid segment, recording annual growth rates of 5.2% and 6.3% at constant exchange rates, respectively.

 

•

On the fixed-line platform service revenue increased by 5.9% at constant exchange rates. Corporate networks and broadband revenue were up 10.1% and 7.4%, respectively, on the strength of our networks and commercial efforts.

 

•

EBITDA increased by 11.9% in Mexican peso terms and 6.3% at constant exchange rates. Adjusted for one-offs, primarily from tower sales, EBITDA was up 7.3% reflecting the greater operating leverage stemming from our revenue expansion.

 

•

We posted a net profit of 6.4 billion pesos in the quarter helped along by a 14.2% increase in our operating profit and a 4.8% reduction in comprehensive financing costs.

 

•

In the nine months through September our net financing, 19.7 billion pesos, coupled with our operating cash flow, allowed us to cover 86.7 billion pesos in capital expenditures, 32.9 billion pesos in shareholder distributions—split almost evenly between share buy-backs and dividend payments—and 23.7 billion pesos in labor obligations.

 

•

At the end of September, our net debt—excluding leases—stood at 433 billion pesos, and represented a net debt-to-EBITDAaL ratio of 1.34 times.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

 

We will host our conference call to discuss 3Q24 financial and operating results on October 16^th at 9:00 am Mexico City time. To access the call please log on to www.americamovil.com/investors

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América Móvil Fundamentals
			3Q24				3Q23
Earnings per Share (Mex$)(1)			0.10				0.03
Earning per ADR (US$)(2)			0.11				0.04
EBITDA per Share (Mex$)(3)			1.45				1.27
EBITDA per ADR (US$)			1.54				1.49
Net Income (millions of Mex$)			6,427				2,028
Average Shares Outstanding (billion)			61.5				63.1
Shares Outstanding End of Period (billion)			61.4				62.9

⁽¹⁾ Net Income / Average Shares Outstanding

⁽²⁾ 20 shares per ADR

⁽³⁾ EBITDA / Average Shares Outstanding

 

América Móvil’s Subsidiaries as of September 2024
Country		Brand		Main Activity		Equity
Mexico		Telcel		wireless		100.0%
		Telmex		wireline		100.0%
Argentina		Claro		wireless/wireline		100.0%
Austria		A1		wireless/wireline		60.2%
		EuroTeleSites		towers		57.0%
Brazil		Claro		wireless/wireline		99.6%
Colombia		Claro		wireless/wireline		99.4%
Costa Rica		Claro		wireless/wireline		100.0%
The Dominican Republic		Claro		wireless/wireline		100.0%
Ecuador		Claro		wireless/wireline		100.0%
El Salvador		Claro		wireless/wireline		95.8%
Guatemala		Claro		wireless/wireline		99.3%
Honduras		Claro		wireless/wireline		100.0%
Nicaragua		Claro		wireless/wireline		99.6%
Paraguay		Claro		wireless/wireline		100.0%
Peru		Claro		wireless/wireline		100.0%
Puerto Rico		Claro		wireless/wireline		100.0%
Uruguay		Claro		wireless		100.0%
Other Stakeholdings
Country		Brand		Main Activity		Equity
Chile		Claro/VTR		wireless/wireline		50.0%

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Note

The reported figures for Argentina corresponding to the third quarter of 2024 are presented in accordance with IAS29 reflecting the effects of inflationary accounting as the Argentinean economy is deemed to be hyperinflationary. All comparisons at constant exchange rates for América Móvil’s consolidated figures will exclude Argentina to ensure consistency.

Relevant Events

Consolidation of ClaroVTR

On October 3^rd, we received approval from the National Economic Prosecutor’s Office of the Republic of Chile (Fiscalía Nacional Económica) to take control of ClaroVTR, currently a 50:50 joint venture with Liberty Latin America. AMX will consolidate ClaroVTR from October 31st, 2024, upon the conversion into equity of AMX’s outstanding loans to ClaroVTR. Upon this capitalization, AMX will hold approximately a 91% ownership interest in ClaroVTR.

MSCI ESG Ratings upgrades AMX to “A”

On August 20^th, MSCI ESG Ratings upgraded América Móvil’s rating to “A” from “BBB” as a result of the company’s sustainability efforts and, in particular, progress made in cybersecurity practices and data privacy policies across our operations, as well as improvements in corporate governance. This marks the third ratings upgrade by MSCI in three years.

Access Lines

1.4M postpaid net adds

In the third quarter we added 1.8 million subscribers, of which 1.4 million were postpaid. Brazil contributed 291 thousand, Colombia 159 thousand, and Mexico 108 thousand postpaid subscribers. Our prepaid segment obtained 468 thousand net additions, led by Colombia with 251 thousand, Eastern Europe with 213 thousand and Argentina with 200 thousand, but registered 343 thousand disconnections in Brasil and 136 thousand in Mexico. As of September our wireless subscriber base reached 315.8 million, including 126 million postpaid clients. Our postpaid base increased 5.9% year-on-year and our prepaid base 1.4%

327k new broadband accesses

In the fixed-line segment we connected 327 thousand broadband accesses: 116 thousand in Mexico, 59 thousand in Brazil and 44 thousand in Argentina. However, we disconnected 83 thousand voice lines and 30 thousand PayTV units. We ended the quarter with 74.6 million RGUs, that comprise 33.2 million broadband accesses, 12.8 million PayTV clients, and 28.5 million landlines. Fixed-broadband accesses rose 5.2%.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Wireless subscribers as of September 2024
Total(1) (Thousands)
Country			Sep ’24				Jun ’24				Var.	%			Sep ’23				Var.	%
Argentina, Paraguay and Uruguay			28,840				28,531				1.1	%			27,614				4.4	%
Austria(2)			11,320				10,887				4.0	%			9,917				14.1	%
Brazil			88,276				88,328				-0.1	%			85,032				3.8	%
Central America			16,969				16,786				1.1	%			16,947				0.1	%
The Caribbean			7,836				7,743				1.2	%			7,525				4.1	%
Colombia			40,597				40,187				1.0	%			38,701				4.9	%
Eastern Europe			15,347				15,062				1.9	%			15,215				0.9	%
Ecuador			9,689				9,610				0.8	%			9,361				3.5	%
Mexico			84,171				84,199				0.0	%			83,417				0.9	%
Peru			12,772				12,662				0.9	%			12,447				2.6	%
Total Wireless Lines			315,816				313,995				0.6	%			306,176				3.1	%

(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.

(2) Includes A1 Digital M2M subscribers.

 

Fixed-Line and Other Accesses (RGUs) as of September 2024
Total(1) (Thousands)
Country			Sep ’24				Jun ’24				Var.	%			Sep ’23				Var.	%
Argentina, Paraguay and Uruguay			3,930				3,825				2.7	%			3,417				15.0	%
Austria			2,754				2,782				-1.0	%			2,872				-4.1	%
Brazil			22,509				22,697				-0.8	%			23,262				-3.2	%
Central America			5,120				5,027				1.8	%			4,834				5.9	%
The Caribbean			2,829				2,827				0.1	%			2,768				2.2	%
Colombia			9,561				9,521				0.4	%			9,413				1.6	%
Eastern Europe			3,539				3,501				1.1	%			3,378				4.7	%
Ecuador			579				560				3.4	%			555				4.3	%
Mexico			21,815				21,724				0.4	%			20,999				3.9	%
Peru			1,948				1,904				2.3	%			1,951				-0.2	%
Total RGUs			74,582				74,368				0.3	%			73,449				1.5	%

⁽¹⁾ Fixed Line, Broadband and Television (Cable & DTH).

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Broadband accesses as of September 2024
Total(1) (Thousands)
Country			Sep ’24				Jun ’24				Var.	%			Sep ’23				Var.	%
Argentina, Paraguay and Uruguay			1,639				1,587				3.3	%			1,390				17.9	%
Austria			1,258				1,268				-0.8	%			1,288				-2.3	%
Brazil			10,204				10,145				0.6	%			9,930				2.8	%
Central America			1,645				1,603				2.6	%			1,515				8.5	%
The Caribbean			1,076				1,073				0.3	%			1,036				3.8	%
Colombia			3,421				3,406				0.4	%			3,360				1.8	%
Eastern Europe			1,511				1,493				1.2	%			1,425				6.0	%
Ecuador			344				333				3.3	%			313				10.0	%
Mexico			11,077				10,962				1.1	%			10,324				7.3	%
Peru			1,048				1,027				2.0	%			992				5.6	%
Total Broadband Accesses			33,224				32,897				1.0	%			31,573				5.2	%

⁽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.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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América Móvil Consolidated Results

Interest rates in the U.S. and several other countries continued their downward trend in the third quarter, with 10-year U.S. Treasury yields falling 85 basis points from the beginning of the quarter through mid-September to a low of 3.61%. The decline was driven by concern about the cooling U.S. economy and its corresponding impact on the labor market. It prompted the Fed to finally declare its first discount-rate reduction in 2.5 years—a period in which it brought about a five percentage point increase in such rate to 5.25%. By the end of the third quarter 10-year yields had bounced back to under 3.8%. Shortly after the end of the quarter they had risen above 4% on the back of unexpectedly strong non-farm payroll numbers for September, wiping out half of the reduction that had taken place through mid-September. Throughout the quarter central-bank discount rates fell by 50 basis points in Mexico and Peru, one percentage point in Colombia and 25 basis points in Chile, but were going up once again in Brazil, by 25 basis points.

Third quarter revenue totaled 223 billion pesos, with service revenue expanding 11.3% in Mexican peso terms, partly reflecting the depreciation of the Mexican peso vs. most of the currencies in our region of operations—with the notable exception of the Brazilian real—relative to the year-earlier quarter: approximately 10% vs. both the dollar and the euro, 8% vs. the Colombian peso and 12% vs the Peruvian sol. At constant exchange rates service revenue was up 5.5% year-on-year, an improvement on the 4.7% rate observed the prior quarter.

Mobile service revenue growth accelerated somewhat from the prior quarter to 5.2%, posting its best performance in over a year on the back of postpaid revenue growth. On the fixed-line space broadband revenue decelerated slightly from the prior quarter, to 7.4%, whereas corporate networks revenue growth, at 10.1%, was faster than in the precedent quarter.

Brazil and Colombia continued their trend over the last year of posting improved revenue growth every quarter. Central America presented better growth rates than in the precedent two quarters while Mexico and Peru maintained their pace.

Third quarter EBITDA came in at 89.4 billion pesos, an 11.9% increase over the year-earlier quarter in Mexican peso terms and 6.3% at constant exchange rates. Adjusted for one-offs associated mainly with tower sales, EBITDA was up 7.3%, its second fastest pace in at least five quarters.

Our operating profit reached 47.4 billion pesos. It was up 14.2% in Mexican peso terms and 10% at constant exchange rates. Adjusted for one-offs as mentioned above, our operating profit increased 12.1% at constant exchange rates.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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We posted a net profit of 6.4 billion pesos in the quarter, nearly trebling the one obtained a year before. It was equivalent to 10 pesos cents per share or 11 dollar cents per ADR. It came about on the back of a higher operating profit, as mentioned above, but also as comprehensive financing costs came down 4.8% relative to the same period of 2023, to 28.3 billion pesos.

Our net debt ended September at 433 billion pesos, having increased by 47.3 billion pesos relative to December 2023, partly reflecting the impact of the depreciation of the Mexican peso on our non-peso financial obligations. In cash flow terms our net debt increased by 19.7 billion pesos. In the nine months to September, our capital expenditures totaled 86.7 billion pesos, shareholder distributions 32.9 billion pesos—split almost evenly between share buy-backs and dividend payments—and reduced labor obligations in the amount of 23.7 billion pesos. Our net debt excluding leases to EBITDAaL ratio ended September at 1.34x LTM EBITDA.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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América Móvil’s Income Statement  Millions of Mexican pesos
		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Service Revenue			188,170				169,052				11.3	%			534,198				507,310				5.3	%
Equipment Revenue			32,247				31,105				3.7	%			90,260				93,441				-3.4	%
Other Revenue			3,041				3,685				-17.5	%			7,822				14,549				-46.2	%
Total Revenue			223,458				203,842				9.6	%			632,280				615,300				2.8	%
Cost of Service			56,611				51,989				8.9	%			160,684				155,144				3.6	%
Cost of Equipment			28,125				27,120				3.7	%			77,856				82,035				-5.1	%
Selling, General & Administrative Expenses			47,364				43,189				9.7	%			135,654				131,043				3.5	%
Others			1,937				1,648				17.5	%			4,966				5,775				-14.0	%
Total Costs and Expenses			134,036				123,947				8.1	%			379,160				373,997				1.4	%
EBITDA			89,422				79,896				11.9	%			253,120				241,303				4.9	%
% of Total Revenue			40.0	%			39.2	%							40.0	%			39.2	%
Adjusted EBITDA(1)			89,154				78,898				13.0	%			252,596				235,704				7.2	%
% of Total Revenue			39.9	%			38.9	%							40.0	%			38.8	%
Depreciation & Amortization			41,979				38,353				9.5	%			119,411				115,327				3.5	%
EBIT			47,443				41,543				14.2	%			133,709				125,976				6.1	%
% of Total Revenue			21.2	%			20.4	%							21.1	%			20.5	%
Net Interest Expenses			11,464				8,811				30.1	%			34,410				25,650				34.2	%
Other Financial Expenses			-7,722				8,674				-189.0	%			-10,541				21,313				-149.5	%
Foreign Exchange Loss			24,582				12,255				100.6	%			58,373				-15,494				n.m.
Comprehensive Financing Cost (Income)			28,323				29,740				-4.8	%			82,241				31,469				161.3	%
Income & Deferred Taxes			9,622				6,350				51.5	%			25,061				29,113				-13.9	%
Net Income before Minority Interest and Equity Participation in Results of Affiliates			9,498				5,453				74.2	%			26,407				65,394				-59.6	%
Equity Participation in Results of Affiliates			-1,647				-2,119				22.3	%			-4,372				-3,731				-17.2	%
Minority Interest			-1,424				-1,306				-9.0	%			-3,207				-3,614				11.3	%
Net Income			6,427				2,028				216.8	%			18,828				58,049				-67.6	%

⁽¹⁾ Adjusted for extraordinary items, particularly the sale of towers in 2023 by Claro Peru, Claro Dominicana and Telmex; and a portion in 2024 by Telmex.

n.m. Not meaningful.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Balance Sheet - América Móvil Consolidated(1)  Millions of Mexican Pesos
		Sep ‘24				Dec ‘23				Var.%						Sep ‘24				Dec ‘23				Var.%
Current Assets														Current Liabilities
Cash, Marketable Securities & Other Short Term Investments			82,809				100,353				-17.5	%		Short Term Debt			114,542				160,964				-28.8	%
Accounts Receivable			238,578				208,248				14.6	%		Lease-Related Debt(2)			34,627				24,375				42.1	%
Other Current Assets			20,140				12,294				63.8	%		Accounts Payable			143,045				147,904				-3.3	%
Inventories			25,247				19,272				31.0	%		Other Current Liabilities			215,879				182,003				18.6	%
			366,774				340,167				7.8	%					508,092				515,246				-1.4	%
Non Current Assets														Non Current Liabilities
Plant & Equipment, gross			1,473,858				1,233,364				19.5	%		Long Term Debt			428,167				339,713				26.0	%
-Depreciation			788,546				604,713				30.4	%		Lease-Related Debt(2)			178,796				100,794				77.4	%
Plant & Equipment, net			685,312				628,651				9.0	%		Other Liabilities			193,816				186,730				3.8	%
Rights of Use(2)			199,867				113,568				76.0	%					800,779				627,238				27.7	%
Investments in Affiliates and Other Investments			37,138				29,295				26.8	%
Deferred Assets
Goodwill (Net)			157,305				146,079				7.7	%
Intangible Assets			144,603				121,499				19.0	%		Shareholder’s Equity			477,026				421,702				13.1	%
Deferred Assets			194,898				184,927				5.4	%
Total Assets			1,785,897				1,564,186				14.2	%		Total Liabilities and Equity			1,785,897				1,564,186				14.2	%

⁽¹⁾ Includes current portion of Long Term Debt.

⁽²⁾ Renewal of a 10-year contract between Telcel and Telesites.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Mexico

108k postpaid gains & 116k new broadband accesses

We added 108 thousand postpaid subscribers in the third quarter and disconnected 136 thousand prepaids to finish September with 84.2 million subscribers. On the fixed-line platform we obtained 116 thousand new broadband accesses but disconnected 25 thousand landlines.

Fixed-line service revenue +5.7% YoY

Our Mexican revenue totaled 83.8 billion pesos for the quarter, a 2.3% year-on-year increase, driven by 4.4% growth in service revenue. Fixed-line service revenue expanded by 5.7%, buoyed by a 12.8% jump in corporate networks revenue as Telmex continues to make inroads in IT solutions, particularly in cloud services and cybersecurity. Additionally, broadband revenue rose by 6.4%, thanks to continued commercial efforts to provide value offers with high-speed fiber access and attractive content from our streaming partners. Mobile service revenue climbed by 3.8%, with both prepaid and postpaid revenue growth remaining steady from the prior quarter.

EBITDA +5.4% YoY

Operating leverage allowed for EBITDA to increase by 5.4% year-on-year to 35.1 billion pesos. The EBITDA margin improved by 1.2 percentage points from the year-earlier quarter, reaching 41.9%. Adjusted for Telmex tower sales in both periods, EBITDA was up 7.7%. Our operating profit increased by 8.4% year-on-year.

 

INCOME STATEMENT - Mexico Millions of MxP
		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			83,796				81,904				2.3%				248,173				239,970				3.4%
Total Service Revenue			65,382				62,637				4.4%				195,815				185,876				5.3%
Wireless Revenue			60,331				59,626				1.2%				178,995				175,593				1.9%
Service Revenue			44,563				42,931				3.8%				133,214				127,444				4.5%
Equipment Revenue			15,768				16,695				-5.6%				45,781				48,149				-4.9%
Fixed Line Revenue(2)			20,902				19,817				5.5%				62,822				58,742				6.9%
Other Revenue			2,563				2,461				4.2%				6,357				5,636				12.8%
EBITDA			35,138				33,327				5.4%				105,767				97,989				7.9%
% total revenue			41.9%				40.7%								42.6%				40.8%
Adjusted EBITDA(3)			34,871				32,390				7.7%				105,243				97,053				8.4%
% total revenue			41.7%				40.0%								42.5%				40.6%
EBIT			26,732				24,654				8.4%				80,632				72,385				11.4%
% total revenue			31.9%				30.1%								32.5%				30.2%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions.

⁽²⁾Includes equipment revenue.

⁽³⁾ Adjusted for the sale of towers in Telmex in 2024 and 2023.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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  Mexico Operating Data

		3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			84,171				83,417				0.9%
Postpaid			15,310				14,889				2.8%
Prepaid			68,860				68,527				0.5%
ARPU (MxP)			177				173				2.6%
Churn (%)			3.2%				3.1%				0.1
Revenue Generating Units (RGUs)(1)			21,815				20,999				3.9%
Fixed Lines			10,737				10,675				0.6%
Broadband			11,077				10,324				7.3%

⁽¹⁾ Fixed Line and Broadband.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Brazil

291k postpaid net adds & 59k new broadband accesses

In the third quarter, we gained 291 thousand postpaid subscribers in Brazil but disconnected 343 thousand prepaid subscribers as part of a clean-up. Our wireless base ended September with 88.3 million clients. On the fixed-line platform, we added 59 thousand broadband accesses and disconnected 92 thousand PayTV suscriptions—the smallest disconnection in two years—finishing the quarter with 22.5 million RGUs.

Fixed-line service revenue +4.1%, best performance in eight years

Revenue totaled 12.3 billion reais, up 7.4% year-on-year, with service revenue expanding 7.2%. Mobile service revenue increased 9.8%, the fastest pace in over a year, driven by a 12.5% growth in postpaid revenue. Fixed-line service revenue grew 4.1%, its best performance in eight years, with both corporate networks and broadband revenue rising approximately 9%, also the fastest pace in over a year. PayTV revenue declined 3.7%, the smallest reduction in seven years. Claro continues to leverage its strong commercial offering, capitalizing on its network, data-center infrastructure, distribution, and customer care to benefit clients in both residential and corporate segments.

EBITDA +13.2% YoY

EBITDA jumped 13.2% year-on-year in the third quarter to 5.4 billion reais, with the EBITDA margin increasing by 2.3 percentage points to 43.9% due to greater operating leverage from strong revenue growth in both the fixed-line and mobile platforms. Our operating profit surged by 35.9% to 2.3 billion reais.

  INCOME STATEMENT - Brazil Millions of BrL

 

 

		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			12,339				11,489				7.4%				36,112				33,930				6.4%
Total Service Revenue			11,711				10,924				7.2%				34,351				32,381				6.1%
Wireless Revenue			7,224				6,526				10.7%				21,013				19,133				9.8%
Service Revenue			6,619				6,030				9.8%				19,304				17,693				9.1%
Equipment Revenue			606				496				22.0%				1,709				1,440				18.7%
Fixed Line Revenue(2)			5,104				4,894				4.3%				15,059				14,688				2.5%
EBITDA			5,416				4,784				13.2%				15,692				14,000				12.1%
% total revenue			43.9%				41.6%								43.5%				41.3%
EBIT			2,291				1,686				35.9%				6,281				4,786				31.2%
% total revenue			18.6%				14.7%								17.4%				14.1%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.

⁽²⁾ Includes equipment revenue.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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  Brazil Operating Data

		3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			88,276				85,032				3.8%
Postpaid			53,242				49,698				7.1%
Prepaid			35,035				35,334				-0.8%
ARPU (BrL)			25				24				4.8%
Churn (%)			2.6%				2.5%				0.1
Revenue Generating Units (RGUs)(1)			22,509				23,262				-3.2%
Fixed Lines			7,506				8,041				-6.6%
Broadband			10,204				9,930				2.8%
PayTV			4,798				5,291				-9.3%

⁽¹⁾ Fixed Line, Broadband and Television. The number of Pay TV units has been adjusted to the criteria by which we report to the local regulator.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Colombia

410k wireless net adds

After 410 thousand net additions, our wireless subscriber base finished September with 40.6 million, a 4.9% year-on-year increase. Postpaid net additions totaled 159 thousand and led to a 5.4% increase in our postpaid base, thereby outpacing prepaid growth. On the fixed-line platform we gained 40 thousand fixed-line RGUs: 19 thousand landlines, 15 thousand broadband accesses, and six thousand PayTV subscriptions. We ended the quarter with 9.6 million fixed-line RGUs, 1.6% more than last year.

Service revenue +4.5% YoY

Third quarter revenue rose 4.5% from the year-earlier quarter to 3.9 trillion Colombian pesos, matching the increase in service revenue. It was the highest growth rate in three years. Mobile service revenue growth accelerated from 2.5% in the prior quarter to 4.0% in the current period. The primary driver was the prepaid segment, which experienced a revenue increase of 4.1%, up from 1.8% in the second quarter. Fixed-line service revenue growth also showed improvement, increasing 5.2%, compared to 3.4% in the previous quarter. Broadband and PayTV revenue had their best performance in at least four quarters.

EBITDA +4.1% YoY

Claro’s EBITDA increased 4.1% year-over-year to 1.6 trillion Colombian pesos. The EBITDA margin for the period stood at 42.2% of revenue, practically flat from a year before.

  INCOME STATEMENT - Colombia Billions of COP

 

 

		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			3,905				3,739				4.5%				11,534				11,269				2.4%
Total Service Revenue			2,999				2,871				4.5%				8,903				8,657				2.8%
Wireless Revenue			2,620				2,491				5.2%				7,690				7,554				1.8%
Service Revenue			1,787				1,719				4.0%				5,271				5,153				2.3%
Equipment Revenue			833				772				7.9%				2,419				2,401				0.7%
Fixed Line Revenue(2)			1,242				1,181				5.2%				3,711				3,578				3.7%
EBITDA			1,646				1,581				4.1%				4,777				4,696				1.7%
% total revenue			42.2%				42.3%								41.4%				41.7%
EBIT			734				763				-3.8%				2,157				2,360				-8.6%
% total revenue			18.8%				20.4%								18.7%				20.9%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.

⁽²⁾Includes equipment revenue.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Colombia Operating Data
		3Q24								3Q23								Var.%
Wireless Subscribers (thousands)(1)			40,597								38,701							4.9%
Postpaid			10,684								10,134							5.4%
Prepaid			29,913								28,567							4.7%
ARPU (COP)			14,831								14,942							-0.7%
Churn (%)			3.0%								3.4%							(0.4)
Revenue Generating Units (RGUs)(2)			9,561								9,413							1.6%

⁽¹⁾ 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).

⁽²⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Peru

110k wireless net adds

Net additions of 110 thousand subscribers in the third quarter, most of them postpaid, brought our wireless subscriber base to 12.8 million, a 2.6% increase from last year. Additionally, we connected 21 thousand broadband accesses, 20 thousand landlines, and three thousand PayTV subscriptions. At the end of September, fixed-line RGUs stood at 1.9 million.

Service revenue +5.5% YoY

Third-quarter revenue totaled 1.7 billion soles, up 4.1% compared to the same period a year before. Service revenue increased 5.5%, with mobile service revenue growing in line and fixed-line service revenue rising 5.8% buoyed by corporate networks revenue that jumped 33.5%.

EBITDA margin at 37.9% of revenue

EBITDA of 640 million soles was 6.9% higher than that of the same period of the prior year, with the EBITDA margin climbing one percentage point to 37.9%. The annual comparison is affected by extraordinary revenue booked in 2023 associated with the sale of tower assets; adjusting for this effect, EBITDA increased 14.6%.

 

INCOME STATEMENT - Peru Millions of Soles
		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			1,690				1,624				4.1%				4,935				5,623				-12.2%
Total Service Revenue			1,303				1,235				5.5%				3,850				3,644				5.6%
Wireless Revenue			1,357				1,250				8.5%				3,942				3,822				3.1%
Service Revenue			980				929				5.5%				2,884				2,744				5.1%
Equipment Revenue			377				321				17.4%				1,057				1,078				-1.9%
Fixed Line Revenue(2)			323				306				5.8%				965				900				7.2%
Other Revenue			10				68				-85.2%				28				901				-96.8%
EBITDA			640				599				6.9%				1,863				2,349				-20.7%
% total revenue			37.9%				36.9%								37.8%				41.8%
Adjusted EBITDA(3)			640				558				14.6%				1,863				1,700				9.6%
% total revenue			37.9%				35.7%								37.8%				35.9%
EBIT			311				280				11.1%				879				1,374				-36.0%
% total revenue			18.4%				17.2%								17.8%				24.4%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions.

⁽²⁾ Includes equipment revenue.

⁽³⁾ Adjusted for the sale of towers in 2023.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Peru Operating Data
		3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			12,772				12,447				2.6%
Postpaid			6,279				5,908				6.3%
Prepaid			6,493				6,539				-0.7%
ARPU (Sol)			26				25				2.4%
Churn (%)			4.1%				4.2%				(0.2)
Revenue Generating Units (RGUs)(1)			1,948				1,951				-0.2%

⁽¹⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Ecuador

Ecuador is still facing significant economic challenges, including a slowdown in economic growth due to rising insecurity, disruptions in oil production and climate-related events. The country is struggling with liquidity constraints, a large financing shortfall and an energy crisis, primarily due to a severe drought that has led to power cuts across the country.

79k wireless net adds

Despite this challenging scenario, Claro has made concerted efforts for customers to remain connected even during service interruptions and stayed commercially active. Mobile net additions increased from a year before to 79 thousand new subs, most of them prepaids, to finish the quarter with 9.7 million subs. Mobile connectivity has been a lifeline amid power-cuts which often interrupt broadband access. Still, our commercial efforts allowed us to connect 11 thousand new broadband accesses and fixed-line RGUs stood at 579 thousand at the end of September.

EBITDA margin at 49% of revenue

Revenue declined 2.3% over the year to 253 million dollars, as service revenue fell 1.5% on the back of mobile revenue contracting 1.9%. Fixed-line service revenue was up 1.6%, albeit from a small base. The quarter’s EBITDA, 124 million dollars, was down 1.4% from a year before, but the EBITDA margin increased 40 basis points in the period, to 49.0%.

 

INCOME STATEMENT - Ecuador Millions of Dollars
		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			253				259				-2.3%				764				779				-1.9%
Total Service Revenue			225				228				-1.5%				677				683				-0.9%
Wireless Revenue			226				231				-2.3%				679				697				-2.6%
Service Revenue			198				202				-1.9%				597				604				-1.2%
Equipment Revenue			27				29				-5.1%				82				93				-11.3%
Fixed Line Revenue(2)			27				27				-0.5%				81				80				0.5%
EBITDA			124				126				-1.4%				371				376				-1.5%
% total revenue			49.0%				48.6%								48.5%				48.3%
EBIT			69				70				-1.5%				206				210				-1.6%
% total revenue			27.1%				26.9%								27.0%				26.9%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.

⁽²⁾ Includes equipment revenue.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Ecuador Operating Data
		3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			9,689				9,361				3.5%
Postpaid			2,274				2,268				0.3%
Prepaid			7,416				7,093				4.5%
ARPU (US$)			7				7				-5.2%
Churn (%)			2.8%				3.1%				(0.3)
Revenue Generating Units (RGUs)(1)			579				555				4.3%

⁽¹⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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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.

276k wireless net adds

We added 276 thousand wireless subscribers in the third quarter, of which 76 thousand were contract clients, ending the period with 25.6 million wireless subs, 4.5% more than a year before. On the fixed-line platform we obtained 100 thousand RGUs, including 44 thousand broadband accesses and 11 thousand PayTV clients, to reach a total of 3.6 million RGUs, 15.7% more than in September 2023.

Service revenue +17.2% YoY

Our third quarter revenue totaled 493.7 billion Argentinean pesos, marking a 10.0% year-on-year increase in real terms. Service revenue growth accelerated to 17.2%, compared to 9.3% in the second quarter and -9.0% in the first quarter. This acceleration stems from eased inflationary pressures that allowed mobile service revenue to pick up from 5.6% in the previous quarter to 13.7% in the current period. The biggest swing comes from the prepaid segment, in which revenue increased 11.9%, following a 17.9% decline in the prior quarter. Fixed-line service revenue jumped 33.3% on the back of our continued fiber-optic rollout and strong commercial activity. Broadband revenue soared 50.7% in the period and PayTV revenue 38.4%.

EBITDA +11.7% YoY

The quarter’s EBITDA, reflecting revenue improvement and better cost management amid declining inflation, expanded by 11.7% year-on-year. The EBITDA margin was equivalent to 39.5% of revenue, 60 basis points higher than that of a year before.

 

INCOME STATEMENT - Argentina Millions of Constant ARS as of September 2024
		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			493,726				449,033				10.0%				1,355,878				1,380,778				-1.8%
Total Service Revenue			429,698				366,543				17.2%				1,177,876				1,109,691				6.1%
Wireless Revenue			405,635				382,200				6.1%				1,116,415				1,189,376				-6.1%
Service Revenue			342,084				300,810				13.7%				939,698				920,754				2.1%
Equipment Revenue			63,550				81,391				-21.9%				176,717				268,622				-34.2%
Fixed Line Revenue(2)			87,614				65,734				33.3%				238,178				188,937				26.1%
EBITDA			195,006				174,508				11.7%				529,556				545,019				-2.8%
% total revenue			39.5%				38.9%								39.1%				39.5%
EBIT			174,759				148,760				17.5%				471,861				456,344				3.4%
% total revenue			35.4%				33.1%								34.8%				33.0%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.

⁽²⁾ Includes equipment revenue.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Argentina Operating Data
		3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			25,621				24,526				4.5%
Postpaid			9,525				9,324				2.2%
Prepaid			16,097				15,202				5.9%
ARPU (ARS)			4,332				1,187				265.0%
Churn (%)			1.4%				1.4%				(0.0)
Revenue Generating Units (RGUs)(1)			3,571				3,087				15.7%

⁽¹⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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Central America

182k wireless net adds

Our operations added 182 thousand mobile subscribers—including 62 thousand postpaid clients—bringing the base to nearly 17 million subs. On the fixed-line platform we connected 93 thousand units, including 42 thousand broadband accesses and 28 thousand PayTV subscriptions.

Service revenue +8.9% YoY

Revenue increased 7.5% year-on-year to 668 million dollars, with service revenue rising by 8.9%. Mobile service revenue growth accelerated from 10.1% in the prior quarter to 11.4% in the current period, as prepaid service revenue picked up its pace. On the fixed-line platform service revenue increased 3.9% led by broadband revenue that expanded 8.6% and corporate networks revenue, up 7.5%.

EBITDA +13.9% YoY, best performance in three years

EBITDA rose by 13.9% year-on-year to 298 million dollars, marking our best performance in three years. The EBITDA margin stood at 44.6% of revenue, having climbed 2.5 percentage points over the past twelve months.

INCOME STATEMENT - Central America Millions of Dollars

		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			668				622				7.5%				1,926				1,842				4.6%
Total Service Revenue			593				545				8.9%				1,711				1,601				6.9%
Wireless Revenue			470				427				10.0%				1,335				1,262				5.8%
Service Revenue			401				360				11.4%				1,142				1,051				8.6%
Equipment Revenue			69				67				2.2%				193				211				-8.2%
Fixed Line Revenue(2)			195				191				2.3%				581				569				2.1%
EBITDA			298				262				13.9%				822				770				6.8%
% total revenue			44.6%				42.1%								42.7%				41.8%
EBIT			143				122				17.2%				376				360				4.2%
% total revenue			21.4%				19.6%								19.5%				19.6%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues includes other revenue.

⁽²⁾ Includes equipment revenue.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central America and The Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Central America Operating Data

 

		3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			16,969				16,947			0.1%
Postpaid			2,718				2,542			6.9%
Prepaid			14,251				14,405			-1.1%
ARPU (US$)			8				7			10.8%
Churn (%)			5.4%				5.8%			(0.4)
Revenue Generating Units (RGUs)(1)			5,120				4,834			5.9%

⁽¹⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

The Caribbean

93k wireless net adds

We obtained 93 thousand net additions in the quarter, of which 16 thousand were postpaid. By the end of September, our wireless base, 7.8 million subscribers, was 4.1% higher than a year before. In the fixed-line segment we connected eight thousand landlines and three thousand broadband accesses but disconnected nine thousand PayTV units. The total figure for RGUs at the end of the quarter was 2.8 million.

EBITDA +8.3% YoY in The Dominican Republic

In Dominicana, service revenue increased 6.2% annually, with mobile revenue rising 7.3% and fixed-line revenue increasing 4.7%. The pace accelerated on both platforms driven by mobile postpaid and fixed-broadband revenue, that expanded 12.7% and 10.9%, respectively. EBITDA rose 8.3% year-on-year, with the margin reaching 52.2%.

Adjusted service revenue +2.0% in Puerto Rico

In Puerto Rico revenue declined 2.3% and service revenue fell 0.6% year-on-year. The contraction stems from the reduction in government subsidies that are booked under service revenue and had been declining every quarter, and also from extraordinary revenue in 2023 from the insurance collected after hurricane Fiona. Excluding such items, service revenue increased 2.0% and EBITDA 0.6%.

INCOME STATEMENT - The Caribbean Millions of Dollars

 

		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			480				484				-0.7%				1,447				1,584				-8.7%
Total Service Revenue			425				424				0.2%				1,275				1,286				-0.9%
Wireless Revenue			302				300				0.6%				913				919				-0.7%
Service Revenue			247				247				0.1%				745				760				-2.0%
Equipment Revenue			55				53				2.8%				168				159				5.4%
Fixed Line Revenue(2)			181				181				-0.3%				540				536				0.8%
Other Revenue			-2				2				-201.7%				-6				129				-104.8%
EBITDA			177				181				-2.5%				536				640				-16.3%
% total revenue			36.8%				37.4%								37.0%				40.4%
Adjusted EBITDA(3)			177				181				-2.5%				536				552				-3.0%
% total revenue			36.8%				37.4%								37.0%				38.0%
EBIT			81				80				1.7%				250				347				-28.0%
% total revenue			16.9%				16.5%								17.3%				21.9%

⁽¹⁾ Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other income.

⁽²⁾ Includes equipment revenue.

⁽³⁾ Adjusted for the sale of towers in The Dominican Republic in 2023 and for a change in the pension plan contribution in Puerto Rico in 2023.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

The Caribbean Operating Data

 

		3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			7,836				7,525			4.1%
Postpaid			2,290				2,227			2.8%
Prepaid			5,546				5,298			4.7%
ARPU (US$)			11				11			-3.8%
Churn (%)			3.1%				3.2%			-0.1
Revenue Generating Units (RGUs)(1)			2,829				2,768			2.2%

⁽¹⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Austria

We added 433 thousand mobile devices in the quarter of which 414 thousand were M2M devices. Including these, at the end of September we had 11.3 million wireless subscribers. On the fixed-line platform, we disconnected 28 thousand units, of which 20 thousand were landlines. We ended the period with 2.8 million fixed-line RGUs.

Corporate networks +4.3% YoY

Quarterly revenue came in at 700 million euro and was slightly below the prior year’s figure. However, service revenue showed a 0.8% increase driven by fixed-line service revenue, up 1.7%, which offset a minor decline in mobile revenue. On the mobile platform, prepaid service revenue fell by 5.3%, while postpaid remained steady on an annual basis. Fixed-line service revenue was strengthened by corporate networks, which represent just over 40% of the total and had their best quarter this year, with revenue rising 4.3%. PayTV and broadband revenue increased by 2.9% and 2.5%, respectively.

EBITDA margin at 39.5% of revenue

EBITDA for the quarter, 277 million euros, was down 3.3% year-over-year due to higher costs, primarily wages and salaries, as well as bad debt. The EBITDA margin for the period decreased by 1.1 percentage points compared to the prior year, to 39.5%.

 

 

INCOME STATEMENT - Austria Millions of Euros
		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			700				704				-0.6%				2,073				2,084				-0.5%
Total Service Revenue			627				622				0.8%				1,855				1,837				1.0%
Wireless Revenue			320				323				-0.8%				956				955				0.1%
Service Revenue			274				275				-0.3%				813				798				1.8%
Equipment Revenue			46				48				-3.7%				143				157				-8.7%
Fixed Line Revenue(2)			364				368				-1.1%				1,073				1,092				-1.7%
EBITDA			277				286				-3.3%				785				787				-0.3%
% total revenue			39.5%				40.6%								37.9%				37.8%
EBIT			111				148				-25.0%				302				375				-19.4%
% total revenue			15.8%				21.0%								14.6%				18.0%

For further detail please visit www.a1.group/en/investor-relations

⁽¹⁾ Total revenue includes other revenue.

⁽²⁾ Includes equipment revenue.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Austria Operating Data
			3Q24				3Q23			Var.%
Wireless Subscribers (thousands)			5,121				5,142			-0.4%
Postpaid			4,059				4,075			-0.4%
Prepaid			1,062				1,067			-0.6%
A1 Digital Subscribers (thousands)			6,199				4,775			29.8%
ARPU (Euros)(1)			18				18			0.1%
Churn (%)(1)			1.3%				1.2%			0.1
Revenue Generating Units (RGUs)(2)			2,754				2,872			-4.1%

⁽¹⁾ Does not include A1 Digital subscribers.

⁽²⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Other European

285k wireless net adds and 38k new RGUs

We gained 285 thousand wireless subscribers in Eastern Europe in the third quarter, bringing our regional subscriber base to 15.3 million. On the fixed-line platform, we registered additions of 38 thousand RGUs—23 thousand PayTV units and 18 thousand broadband accesses—ending September with 3.5 million RGUs, a 4.7% increase from the previous year.

Service revenue +5.5% YoY

Revenue for the quarter totaled 663 million euros, a 4.7% increase compared to the previous year. Service revenue was up 5.5%, with fixed-line revenue rising 6.9% and mobile revenue increasing 4.9%. Broadband and postpaid revenue were the main growth drivers, climbing 15.7% and 5.8% respectively, followed by PayTV at 3.5%. Revenue from corporate networks declined, as the comparison period included one-time revenue from special projects in Bulgaria.

EBITDA +11.9% YoY

Continued revenue growth on both platforms and efficiency measures allowed EBITDA to expand by 11.9% year-on-year, with the margin rising by 2.7 percentage points to 41.9%.

 

INCOME STATEMENT - Other European Millions of Euros
		3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Total Revenue(1)			663				633				4.7%				1,882				1,824				3.2%
Total Service Revenue			532				505				5.5%				1,509				1,422				6.1%
Wireless Revenue			488				468				4.2%				1,382				1,353				2.2%
Service Revenue			379				361				4.9%				1,067				1,026				3.9%
Equipment Revenue			109				107				1.7%				315				326				-3.4%
Fixed Line Revenue(2)			168				156				7.2%				477				437				9.0%
EBITDA			278				248				11.9%				744				696				6.9%
% total revenue			41.9%				39.2%								39.5%				38.2%
EBIT			152				141				7.5%				375				379				-1.1%
% total revenue			22.9%				22.3%								19.9%				20.8%

For further detail please visit www.a1.group/en/investor-relations

⁽¹⁾ Total revenue includes other revenue.

⁽²⁾ Includes equipment revenue.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Other European Operating Data
			3Q24				3Q23				Var.%
Wireless Subscribers (thousands)			15,347				15,215				0.9%
Postpaid			12,477				12,271				1.7%
Prepaid			2,870				2,944				-2.5%
ARPU (Euros)			8				8				4.3%
Churn (%)			1.6%				1.6%				0.0
Revenue Generating Units (RGUs)(1)			3,539				3,378				4.7%

⁽¹⁾ Fixed Line, Broadband and Television.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Exchange Rates Local Currency Units per MxP
			3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.	%
Euro
End of Period			0.0567				0.0596				-4.9	%			0.0567				0.0596				-4.9	%
Average			0.0581				0.0638				-9.0	%			0.0614				0.0608				1.0	%
USD
End of Period			0.0509				0.0564				-9.7	%			0.0509				0.0564				-9.7	%
Average			0.0528				0.0587				-9.9	%			0.0565				0.0561				0.6	%
Brazilian Real
End of Period			0.2776				0.2825				-1.7	%			0.2776				0.2825				-1.7	%
Average			0.2930				0.2863				2.4	%			0.2957				0.2811				5.2	%
Argentinean Peso
End of Period			49.4422				19.7392				150.5	%			49.4422				19.7392				150.5	%
Average			49.8239				18.3370				171.7	%			50.1190				13.7772				263.8	%
Colombian Peso
End of Period			212.1458				230.4495				-7.9	%			212.1458				230.4495				-7.9	%
Average			216.5670				237.6501				-8.9	%			224.7393				247.7523				-9.3	%
Guatemalan Quetzal
End of Period			0.3935				0.4433				-11.2	%			0.3935				0.4433				-11.2	%
Average			0.4090				0.4611				-11.3	%			0.4389				0.4396				-0.1	%
Peruvian Sol
End of Period			0.1892				0.2142				-11.7	%			0.1892				0.2142				-11.7	%
Average			0.1987				0.2158				-8.0	%			0.2121				0.2095				1.2	%
Dominican Republic Peso
End of Period			3.0699				3.2123				-4.4	%			3.0699				3.2123				-4.4	%
Average			3.1582				3.3257				-5.0	%			3.3482				3.1341				6.8	%
Belarusian Ruble
End of Period			0.1400				0.1550				-9.7	%			0.1400				0.1550				-9.7	%
Average			0.1452				0.1612				-9.9	%			0.1552				0.1542				0.6	%

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Exchange Rates Local Currency Units per USD
			3Q24				3Q23				Var.%				Jan-Sep 24				Jan-Sep 23				Var.%
Euro
End of Period			1.1135				1.0573				5.3%				1.1135				1.0573				5.3%
Average			1.0994				1.0879				1.1%				1.0871				1.0831				0.4%
Mexican Peso
End of Period			19.6290				17.7287				10.7%				19.6290				17.7287				10.7%
Average			18.9243				17.0449				11.0%				17.7119				17.8232				-0.6%
Brazilian Real
End of Period			5.4481				5.0076				8.8%				5.4481				5.0076				8.8%
Average			5.5457				4.8801				13.6%				5.2377				5.0102				4.5%
Argentinean Peso
End of Period			970.5000				349.9500				177.3%				970.5000				349.9500				177.3%
Average			942.8826				312.5517				201.7%				887.7044				245.5540				261.5%
Colombian Peso
End of Period			4,164.2100				4,085.5700				1.9%				4,164.2100				4,085.5700				1.9%
Average			4,098.3766				4,050.7198				1.2%				3,980.5660				4,415.7488				-9.9%
Guatemalan Quetzal
End of Period			7.7235				7.8583				-1.7%				7.7235				7.8583				-1.7%
Average			7.7408				7.8590				-1.5%				7.7741				7.8344				-0.8%
Peruvian Sol
End of Period			3.7140				3.7970				-2.2%				3.7140				3.7970				-2.2%
Average			3.7599				3.6791				2.2%				3.7559				3.7343				0.6%
Dominican Republic Peso
End of Period			60.2600				56.9500				5.8%				60.2600				56.9500				5.8%
Average			59.7664				56.6860				5.4%				59.3037				55.8604				6.2%

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Appendix A

 

Financial Debt of América Móvil(1) Millions
		Sep -24				Dec -23
Peso - denominated debt (MxP)			147,521				142,607
Bonds(2)			133,241				89,927
Banks and others			14,280				52,680
U.S. Dollar - denominated debt (USD)			8,907				8,496
Bonds			8,496				8,496
Banks and others			411				0
Euro - denominated Debt (EUR)			4,195				6,542
Bonds			2,782				5,472
Commercial Paper			1,083				510
Banks and others			330				560
Sterling - denominated Debt (GBP)			2,200				2,200
Bonds			2,200				2,200
Reais - denominated Debt (BRL)			9,500				8,250
Bonds			9,500				8,250
Banks and others			0				0
Debt denominated in other currencies (MxP)(3)			36,663				16,441
Bonds			5,921				5,098
Banks and others			30,742				11,343
Total Debt (MxP)			542,709				500,677
Cash, Marketable Securities and Short Term Financial Investments (MxP)(4)			106,528				115,268
Net Debt (MxP)			436,180				385,409

⁽¹⁾ 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.

⁽²⁾ Includes the effect of inflation-linked debt.

⁽³⁾ Includes Peruvian soles.

⁽⁴⁾ Includes fixed income securities.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Glossary of Terms

 

ARPU		Average Revenue per User. The ratio of service revenue in a given period to the average number of wireless subscribers in the same period.
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.
EBITDAaL		Earnings Before Interest, Taxes, Depreciation, and Amortization. Adjusted after lease payments.
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.

 

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

---

 

  

Glossary of Terms

 

Market share		A company’s subscribers 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.
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 recharge a mobile phone. The client does not hold a contract with the company.
Postpaid		Subscriber that has a contract for the use of voice and data, mobile WiFi routers and machine-to-machine devices.
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 revenue.
Wireless penetration		The ratio of total wireless subscribers in any given country divided by the total population in that country.

 

		Content
		Highlights
		Relevant events
		Subscribers
		América
		Móvil
		Consolidated
		Mexico
		Brazil
		Colombia
		Other South
		America
		Central
		America and The
		Caribbean
		Austria
		Other
		European
		Currency
		Exchange
		Rates
		Appendix
		Glossary

 

 

  

 

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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 17, 2024

 

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

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