Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF A FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2022

Commission File Number: 1-16269

 

 

AMÉRICA MÓVIL, S.A.B. DE C.V.

(Exact Name of the Registrant as Specified in the Charter)

 

 

America Mobile

(Translation of Registrant’s Name into English)

Lago Zurich 245,

Plaza Carso / Edificio Telcel, Piso

16 Colonia Ampliación Granada,

Alcaldía Miguel Hidalgo,

11529, Mexico City,

México

(Address of Principal Executive Office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒                 Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 

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Exhibit A

América Móvil’s third quarter of

2022 financial and operating report

October 18^th, 2022 / 3Q22

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 2022.

 

 

 

•

We added 2.9 million wireless subscribers in the third quarter, including 1.9 million postpaid clients with over half of which came from Brazil, 329 thousand from Austria, 215 thousand from Colombia and 155 thousand from Peru.

 

•

In the prepaid segment we added one million subscribers. Mexico contributed with 402 thousand net adds, Colombia 307 thousand and the Central America and Eastern Europe block with almost 135 thousand each.

 

•

On the fixed-line platform we obtained 156 thousand broadband accesses, including 95 thousand in Argentina and 31 thousand in Central America, bringing the total to 31.1 million accesses, 2.1% more than a year before.

 

•

Third quarter revenue of 214.5 billion pesos was up 1.8% year-on-year in nominal peso terms, with service revenue increasing 3.0% in nominal peso term and 5.9% year-on-year at constant exchange rates.

 

•

Mobile service revenue rose more than 9% year-on-year at constant exchange rates both in the prepaid and the postpaid segments. It was the fastest rate of growth observed in at least five quarters.

 

•

Fixed-line service revenue remained flat with broadband revenue up 3.4% at constant exchange rates and that of corporate networks 12.6%— the fastest pace in five quarters.

 

•

EBITDA rose 2.3% year-on-year to 83.2 billion pesos—5.0% at constant exchange rates—with the EBITDA margin expanding to 38.8% from 38.6% a year before.

 

•

Our operating profit increased 5.2% to 43.6 billion pesos which helped bring about a net profit of 18.0 billion pesos after 16.5 billion pesos in comprehensive financing costs that were 34.2% below that of the prior year mostly on account of foreign exchange losses incurred then.

 

•

Our capital expenditures, 105.3 billion pesos in the nine months to September, were fully funded by our operating cash flow. Our surplus operating cash flow, together with 71.7 billion pesos in net financing raised in the period allowed us to cover 45.7 billion pesos in shareholder distributions, 20.0 billion pesos in labor obligations; and 13.3 billion pesos in the net acquisition of ownership interests, coming from the acquisition of a portion of Oi’s mobile clients and the sale of our interest in Claro Panama.

 

•

At the end of September our net debt—excluding leases—stood at 411.7 billion pesos, equivalent to 1.39 times EBITDAaL.

We will host our conference call to discuss 3Q22 financial and operating results on October 19th 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

 

		3Q22				3Q21
Earnings per Share (Mex$) (1)			0.28				0.24
Earning per ADR (US$) (2)			0.28				0.24
EBITDA per Share (Mex$) (3)			1.31				1.24
EBITDA per ADR (US$)			1.29				1.24
Net Income (millions of Mex$)			17,969				15,811
Average Shares Outstanding (billion)			63.8				65.8
Shares Oustanding End of Period (billion)			63.6				65.50

 

(1)	Net Income / Average Shares outstanding

(2)	20 shares per ADR

(3)	EBITDA / Average Shares Outstanding

América Móvil’s Subsidiaries as of September 2022

 

Country		Brand		Business		Equity
Mexico		Telcel		wireless			100.0	%
		Telmex		wireline			98.8	%
		Sección Amarilla		other			100.0	%
		Telvista		other			90.0	%
Argentina		Claro		wireless			100.0	%
		Telmex		wireline			100.0	%
Brazil		Claro		wireless/wireline			99.6	%
Chile		Claro		wireless			100.0	%
		Telmex		wireline			100.0	%
Colombia		Claro		wireless/wireline			99.4	%
Costa Rica		Claro		wireless			100.0	%
Dominicana		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/wireline			100.0	%
Netherlands		KPN		wireless/wireline			17.9	%
Austria		Telekom Austria		wireless/wireline			51.0	%

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Note

On November 23rd, 2021 and on July 1st, 2022 we completed the sale of TracFone Wireless and Claro Panama, respectively. The financial statements presented in this report account for TracFone and Panama as discontinued operations and include the net profit generated by those subsidiaries up to the date of the divestment and the net gain generated by its sale, under “net income from discontinued operations”.

The reported figures for Argentina corresponding to the third quarter of 2022 are presented in accordance with a) IAS29 reflecting the effects of the adoption of inflationary accounting that became mandatory after the Argentinean economy was deemed to be hyperinflationary in the third quarter of 2018 and b) IAS21 translated to Mexican pesos using the end-of-period exchange rate.

All comparisons at constant exchange rates for America Móvil’s consolidated figures will exclude Argentina to ensure consistency.

Relevant Events

10-year dollar denominated bond of 750M USD

On July 18th, we issued a 10-year dollar denominated bond in the amount of 750 million dollars that pays a coupon of 4.7%.

Tender offer of 550M euro hybrid note

On September 16th, America Móvil initiated a tender offer to purchase for cash any or all outstanding securities of its 550 million euro hybrid note with a 2073 maturity but callable in May 2023. At the settlement date América Móvil received 88.6% of the securities. The remainder amount of bonds has been called at par.

Sitios Latinoamérica spin-off was completed

The spin-off process of Sitios Latinoamérica was completed and its shares began trading in the Mexican Stock Exchange (BMV) on September 29th. América Móvil transferred 29,090 towers in 13 countries and Sitios Latinoamérica is now the second largest tower company in Latin America. In the process we also transferred to Sitios Latinoamérica net debt in the amount of 2.3 billion dollars.

Joint venture between Claro Chile and VTR

On October 6th, Liberty Latin América and América Móvil confirmed that they received all authorizations to proceed with the joint venture of their respective Chilean operations, VTR and Claro Chile have closed the joint venture agreement.

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Access Lines

1.9M postpaid net adds

In the third quarter we added 2.9 million wireless subscribers—of which 1.9 million were postpaid clients—bringing our base to 307.8 million subscribers at the end of September, 9.6% more than a year before. More than half of the new postpaid clients came from Brazil, with Austria contributing 329 thousand subs, Colombia 215 thousand and Peru 155 thousand.

Mexico led the way in prepaid, with 402 thousand net adds, followed by Colombia with 307 thousand and the Central America and Eastern Europe block with almost 135 thousand each.

156k new broadband accesses

On the fixed-line platform, broadband accesses increased by 156 thousand in the quarter. We registered disconnections of 181 thousand and 27 thousand, respectively, in fixed-line voice and PayTV.

We ended September with 382 million access lines, which includes 308 million wireless subscribers and 75 million fixed-line RGUs.

Wireless subscribers as of September 2022

 

Total(1) (Thousands)
Country		Sep ’22				Jun ’22				Var.%				Sep ’21				Var.%
Argentina, Paraguay and Uruguay			26,789				26,638				0.6	%			25,949				3.2	%
Austria			8,651				8,306				4.2	%			7,638				13.3	%
Brazil			86,629				85,735				1.0	%			69,213				25.2	%
Central America			16,381				16,189				1.2	%			15,392				6.4	%
Caribbean			7,276				7,222				0.7	%			6,876				5.8	%
Chile			7,188				7,228				-0.6	%			6,818				5.4	%
Colombia			36,844				36,322				1.4	%			34,356				7.2	%
Eastern Europe			15,125				14,969				1.0	%			15,094				0.2	%
Ecuador			8,900				8,802				1.1	%			8,547				4.1	%
Mexico			81,808				81,364				0.5	%			79,315				3.1	%
Peru			12,256				12,202				0.4	%			11,810				3.8	%
Total Wireless Lines			307,847				304,977				0.9	%			281,006				9.6	%

 

(1)	Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated.

Fixed-Line and Other Accesses (RGUs) as of September 2022

 

Total(1) (Thousands)
Country		Sep ’22				Jun ’22				Var.%				Sep ’21				Var.%
Argentina, Paraguay and Uruguay			2,676				2,417				10.7	%			1,860				43.8	%
Austria			2,971				2,995				-0.8	%			3,074				-3.4	%
Brazil(2)			24,302				24,699				-1.6	%			25,604				-5.1	%
Central America			4,579				4,514				1.4	%			4,343				5.4	%
Caribbean			2,695				2,673				0.8	%			2,630				2.5	%
Chile			1,233				1,284				-4.0	%			1,345				-8.4	%
Colombia			9,184				9,075				1.2	%			8,789				4.5	%
Eastern Europe			3,183				3,140				1.4	%			2,979				6.9	%
Ecuador			607				582				4.3	%			512				18.4	%
Mexico			21,121				21,256				-0.6	%			21,546				-2.0	%
Peru			1,993				1,962				1.6	%			1,886				5.7	%
Total RGUs			74,543				74,594				-0.1	%			74,569				0.0	%

 

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

(2)	The number of PayTV units has been adjusted to the criteria by which we report to the local regulator.

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América Móvil Consolidated Results

The increasingly hawkish tone by the Fed’s governors in the context of strong inflationary pressures brought about renewed increases in U.S. interest rates in the latter half of the third quarter after a lull in its first half, with 10-year rates ending the period at 3.83%, just missing a break over 4% a few days earlier.

Our third quarter revenue reached 214.5 billion pesos, up 1.8% year-on-year, with service revenue rising 3.0%. At constant exchange rates service revenue expanded 5.9% as mobile service revenue jumped 9.7% and fixed-line service revenue remained almost flat, +0.2%. Year-over-year the Mexican peso appreciated strongly vis-à-vis the Colombian and Chilean pesos, 12.9% and 18.5% respectively, and even more vs. the euro, 16.0%. It remained practically flat vis-à-vis the U.S. dollar and the Brazilian real. The appreciation of the peso explains the difference between revenue growth in nominal and constant exchange rates.

Mobile service revenue rose more than 9% year-on-year at constant exchange rates both in the prepaid and the postpaid segments. It was the fastest rate of growth observed in at least five quarters, with postpaid revenue accelerating in each of the last two quarters partly buoyed by 5G services.

Brazil led the way in mobile service revenue growth at 22.5% —which includes the impact of the incorporation of part of Oi’s mobile clients—followed by Mexico and Eastern Europe, with 9.7% and 6.9% respectively. At 3.0%, Colombia posted its best revenue growth rate in five quarters, as did the Central-America block, with 6.5%. Revenue growth in Ecuador on an improving trend for several quarters, posted a 1.6% increase in the period.

On the fixed-line platform broadband revenue rose 3.4% at constant exchange rates and that of corporate networks increased 12.6%—also the fastest pace in five quarters—helping offset a 5.4% reduction in PayTV services and a 6.1% decline in wireline voice revenue. Corporate networks was our fastest growing business line across the board, with Brazil posting a 27.7% rate; Colombia 14.4% and Mexico 8.1%. Fixed-broadband revenue increased between 4 and 5% in both Mexico and Brazil, with Eastern Europe revenue surging 13.5%.

Our EBITDA rose 2.3% year-on-year to 83.2 billion pesos—5.0% at constant exchange rates—with the EBITDA margin expanding to 38.8% from 38.6% a year before. Brazil was the top performer with a 10.8% increase, followed by Eastern Europe with 8.7%.

---

EBITDA expansion helped bring about a 5.2% increase in our operating profit to 43.6 billion pesos, resulting in an 18.0 billion pesos net profit in the quarter after 16.5 billion pesos in comprehensive financing costs that were 34.2% below that of the prior year mostly on account of foreign exchange losses incurred then.

Our capital expenditures, 105.3 billion pesos in the nine months to September, were fully funded by our operating cash flow. Our surplus operating cash flow, together with 71.7 billion pesos in net financing raised in the period allowed us to cover 45.7 billion pesos in shareholder distributions—including 20.9 billion pesos in share buybacks—20.0 billion pesos in labor obligations; and 13.3 billion pesos in the net acquisition of ownership interests, coming from the acquisition of a portion of Oi’s mobile clients and the sale of our interest in Claro Panama.

Our net debt excluding leases ended September at 412 billion pesos—equivalent to 1.39 times LTM EBITDAaL—having increased by 4.0 billion pesos relative to December. The spin-off of Sitios Latinoamérica in August resulted in the separation of 29,090 towers in 13 countries but also brought about a reduction of 46.7 billion pesos in our net financial debt, as it migrated over to Sitios.

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América Móvil’s Income Statement Proforma⁽¹⁾ Millions of Mexican pesos

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Service Revenue			179,716				174,514				3.0	%			536,518				517,744				3.6	%
Equipment Revenue			32,495				34,351				-5.4	%			98,761				102,509				-3.7	%
Total Revenue(2)			214,466				210,771				1.8	%			641,666				625,908				2.5	%
Cost of Service			56,080				54,963				2.0	%			166,974				163,133				2.4	%
Cost of Equipment			28,317				29,554				-4.2	%			85,695				87,760				-2.4	%
Selling, General & Administrative Expenses			45,685				43,974				3.9	%			139,066				132,719				4.8	%
Others			1,172				933				25.6	%			3,187				3,859				-17.4	%
Total Costs and Expenses			131,254				129,425				1.4	%			394,922				387,470				1.9	%
EBITDA			83,212				81,346				2.3	%			246,745				238,437				3.5	%
% of Total Revenue			38.8	%			38.6	%							38.5	%			38.1	%
Depreciation & Amortization			39,641				39,945				-0.8	%			122,387				119,863				2.1	%
EBIT			43,571				41,401				5.2	%			124,358				118,574				4.9	%
% of Total Revenue			20.3	%			19.6	%							19.4	%			18.9	%
Net Interest Expenses			9,367				7,270				28.8	%			28,306				24,329				16.3	%
Other Financial Expenses			5,239				6,156				-14.9	%			23,717				12,456				90.4	%
Foreign Exchange Loss			1,863				11,607				-83.9	%			-24,849				6,891				n.m.
Comprehensive Financing Cost (Income)			16,469				25,033				-34.2	%			27,174				43,676				-37.8	%
Income & Deferred Taxes			10,852				3,756				188.9	%			33,852				22,876				48.0	%
Net Income before Minority Interest and Equity Participation in Results of Affiliates			16,250				12,612				28.8	%			63,332				52,022				21.7	%
Equity Participation in Results of Affiliates			52				103				-49.0	%			48				119				-59.5	%
Minority Interest			-1,738				-1,771				1.9	%			-4,309				-4,005				-7.6	%
Net Income from Continued Operations			14,564				10,944				33.1	%			59,071				48,135				22.7	%
Net Income from Discontinued Operations (TracFone)			3,405				4,867				-30.0	%			3,379				12,301				-72.5	%
Net Income			17,969				15,811				13.7	%			62,450				60,437				3.3	%

 

(1)	Adjusted to reflect the sale of TracFone and Panama and the spin-off of Sitios Latinoamérica.

(2)	Total Revenue include Other Revenue.

n.m. Not meaningful.

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Balance Sheet - América Móvil Consolidated⁽¹⁾ Millions of Mexican pesos

 

		Sep ‘22				Dec ‘21				Var.%						Sep ‘22				Dec ‘21				Var.%
Current Assets														Current Liabilities
Cash, Marketable Securities & Other Short Term Investments			112,845				156,383				-27.8	%		Short Term Debt(2)			144,073				145,223				-0.8	%
Accounts Receivable			214,683				212,977				0.8	%		Lease-Related Debt			33,969				27,632				22.9	%
Other Current Assets			17,232				10,611				62.4	%		Accounts Payable			234,931				260,879				-9.9	%
Inventories			31,822				24,185				31.6	%		Other Current Liabilities			130,024				100,279				29.7	%
			376,582				404,157				-6.8	%					542,998				534,013				1.7	%
Non Current Assets														Non Current Liabilities
Plant & Equipment, gross			1,351,620				1,408,997				-4.1	%		Long Term Debt			380,430				418,807				-9.2	%
-Depreciation			687,224				677,801				1.4	%		Lease-Related Debt			100,214				71,022				41.1	%
Plant & Equipment, net			664,397				731,197				-9.1	%		Other Liabilities			175,106				211,766				-17.3	%
Rights of Use			121,945				90,372				34.9	%					655,749				701,595				-6.5	%
Investments in Affiliates and Other Investments			9,975				9,947				0.3	%
Deferred Assets
Goodwill (Net)			143,330				136,578				4.9	%
Intangible Assets			131,646				143,226				-8.1	%		Shareholder’s Equity			431,556				454,042				-5.0	%
Deferred Assets			182,428				174,173				4.7	%
Total Assets			1,630,304				1,689,650				-3.5	%		Total Liabilities and Equity			1,630,304				1,689,650				-3.5	%

 

(1)	Includes current portion of Long Term Debt.

(2)	Includes current portion of Long Term Debt.

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Mexico

443k mobile net adds

In the third quarter we added 443 thousand wireless subscribers—402 thousand prepaid clients and 41 thousand postpaids—to finish September with 81.8 million wireless subscribers, 3.1% more than a year before. We have seen improving trends in postpaid growth linked to our 5G offers. On the fixed-line segment we disconnected 135 thousand accesses, all of them voice accesses.

Mobile service revenue +9.7% YoY

Revenue totaled 76.2 billion pesos in the third quarter, a 3.1% increase from a year before, with service revenue expanding 6.5% year-on-year following a 4.9% increase the prior quarter. Mobile service revenue was up 9.7% over the prior year compared to 8.8% the prior quarter, with postpaid revenue growth accelerating to 8.6%—its best pace in at least five quarters—from 6.6% the prior quarter, and prepaid revenue growth continuing to increase 10.4%. ARPUs were up 7.6% and 6.3% in the postpaid and prepaid segments, respectively, partly as a result of upselling to 5G services.

Broadband & corporate networks best growth rate

On the fixed-line platform service revenue was flat, 0.3%, having declined 2.5% in the second quarter, with both broadband and corporate network services posting their best growth rate in several quarters, 4.1% and 8.1%, respectively which helped offset an 8.0% reduction in wireline voice revenue.

EBITDA +4.3% YoY

EBITDA came in at 31.3 billion pesos, a 4.3% increase from the prior year, with the EBITDA margin reaching 41.0%, as costs and expenses (excluding equipment) rose 5.8%, less than service revenue.

5G coverage in 64 cities

At the end of the quarter we had 64 cities with 5G coverage. We have continued with the migration of traffic and subscribers over to our 5G network.

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Income Statement - Mexico Millions of Mexican pesos

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			76,215				73,918				3.1%				225,418				220,675				2.1%
Total Service Revenue			60,064				56,402				6.5%				175,823				166,663				5.5%
Total Equipment Revenue			14,733				16,584				-11.2%				45,473				51,150				-11.1%
Wireless Revenue			55,659				53,891				3.3%				165,017				160,452				2.8%
Service Revenue			41,042				37,429				9.7%				119,865				109,667				9.3%
Equipment Revenue			14,618				16,462				-11.2%				45,152				50,784				-11.1%
Fixed Line Revenue			19,138				19,095				0.2%				56,280				57,361				-1.9%
Service Revenue			19,023				18,973				0.3%				55,958				56,996				-1.8%
Equipment Revenue			116				121				-4.9%				322				366				-12.0%
EBITDA			31,250				29,961				4.3%				92,533				88,169				4.9%
% total revenue			41.0%				40.5%								41.0%				40.0%
EBIT			23,165				22,203				4.3%				68,543				64,987				5.5%
% total revenue			30.4%				30.0%								30.4%				29.4%

 

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

Mexico Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			81,808				79,315				3.1%
Postpaid			14,582				14,553				0.2%
Prepaid			67,226				64,762				3.8%
ARPU (MxP)			168				159				5.9%
Churn (%)			3.3%				3.4%				(0.2	)
Revenue Generating Units (RGUs)(1)			21,121				21,546				-2.0%
Fixed Lines			11,000				11,498				-4.3%
Broadband			10,121				10,048				0.7%

 

(1)	Fixed Line and Broadband.

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Brazil

958k postpaid adds

We gained 894 thousand wireless subscribers in Brazil in the third quarter, adding 958 thousand postpaid clients and disconnecting 65 thousand prepaids. At the end of the quarter we had 86.6 million subscribers in Brazil, which represents a 25.2% increase from the year before. On the fixed-line platform we disconnected 397 thousand accesses, most of which were wireline accesses, 195 thousand, but also 167 thousand PayTV clients.

Service revenue +9.0% YoY

Third quarter revenue was up 9.9% year-on-year to 10.8 billion reais as service revenue growth accelerated to 9.0% from 8.0% the prior quarter. On the mobile platform service revenue climbed 22.5%, its best performance in at least five quarters partly reflecting the incorporation of a group of Oi’s mobile clients from May 1st. In both the prepaid and postpaid segments revenue growth was more dynamic than it had been the prior quarter, with prepaid revenue climbing 32.3% and postpaid revenue 19.9%.

Broadband revenue +4.7% YoY

On the fixed-line platform service revenue declined 3.1%, slightly more than in the second quarter, 2.5%, mostly on account of wireline voice revenue falling 14.3% year-on-year compared to a 13.1% reduction the prior quarter. Corporate networks revenue expanded 27.7%, up from 22.5% in the second quarter, with broadband revenue growth decelerating slightly to 4.7% from 5.0%. PayTV revenue growth, although still negative, is on an improving trend, going from -12.9% in the fourth quarter to -10.8% in the third quarter, having observed smaller declines each quarter in between.

EBITDA was up 10.8% YoY

EBITDA jumped 10.8% year-on-year to 4.4 billion reais with the EBITDA margin coming in at 40.5% as the increase in costs and expenses—7.1% excluding equipment costs—remained below that of service revenue.

5G coverage in 27 cities

We launched 5G services in Brazil in July in the 3.5GHz frequency in 27 cities. Claro also launched new postpaid plans designed for high data consumers in 5G.

---

Income Statement - Brazil Millions of BrL

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			10,803				9,833				9.9%				31,343				29,362				6.7%
Total Service Revenue			10,387				9,531				9.0%				30,270				28,439				6.4%
Wireless Revenue			5,890				4,755				23.9%				16,486				14,005				17.7%
Service Revenue			5,499				4,488				22.5%				15,482				13,153				17.7%
Equipment Revenue			392				267				46.4%				1,004				852				17.9%
Fixed Line Revenue			4,888				5,046				-3.1%				14,789				15,289				-3.3%
EBITDA			4,375				3,950				10.8%				12,656				11,771				7.5%
% total revenue			40.5%				40.2%								40.4%				40.1%
EBIT			1,764				1,482				19.0%				4,571				4,120				11.0%
% total revenue			16.3%				15.1%								14.6%				14.0%

 

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

Total revenue includes other income.

Brazil Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			86,629				69,213				25.2%
Postpaid			48,937				40,267				21.5%
Prepaid			37,691				28,945				30.2%
ARPU (BrL)			21				22				-2.6%
Churn (%)			2.70%				3.00%				(0.3	)
Revenue Generating Units (RGUs)(1)			24,302				25,604				-5.1%

 

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

---

Colombia

522k mobile net adds

We added 522 thousand wireless subscribers in the period, slightly more than those gained the year-earlier quarter, of which 215 thousand were postpaid and 307 thousand were prepaid. We finished September with 36.8 million wireless subscribers, up 7.2% over the prior year with our postpaid base increasing almost twice as rapidly: 13.6%. Fixed-line RGUs totaled 9.2 million at the end of the quarter after adding 110 thousand units including 29 thousand PayTV subscriptions, 60 thousand landlines and 20 thousand broadband accesses.

Mobile service revenue +3.0% YoY

Third quarter revenue of 3.7 trillion Colombian pesos was 1.1% higher than a year before on the back of service revenue growth of 2.0% (slightly higher than in the precedent quarter) under strong competition in both the fixed and mobile segments. Mobile service revenue rose 3.0% year-on-year with postpaid growing 4.3% and prepaid rising 0.5%. Fixed-line service revenue was up 0.6% supported by corporate networks that increased 14.4% and to a lesser extent PayTV revenue that came in 1.0% above last year.

EBITDA margin at 42.8% of revenue

With mounting annual inflation rates that reached 10.1% in September Claro has increased its efforts to contain costs. EBITDA of 1.6 trillion Colombian pesos was 0.3% higher than in the same quarter of 2021 and the EBITDA margin stood at 42.8% of revenue.

Income Statement – Colombia Billions of COP

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			3,690				3,649				1.1%				11,115				10,771				3.2%
Total Service Revenue			2,866				2,809				2.0%				8,532				8,387				1.7%
Wireless Revenue			2,494				2,447				1.9%				7,534				7,181				4.9%
Service Revenue			1,726				1,675				3.0%				5,112				5,027				1.7%
Equipment Revenue			769				772				-0.4%				2,421				2,154				12.4%
Fixed Line Revenue			1,168				1,160				0.7%				3,500				3,445				1.6%
EBITDA			1,580				1,575				0.3%				4,735				4,637				2.1%
% total revenue			42.8%				43.2%								42.6%				43.0%
EBIT			905				952				-5.0%				2,770				2,772				-0.1%
% total revenue			24.5%				26.1%								24.9%				25.7%

 

(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.

Colombia Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)(1)			36,844				34,356				7.2%
Postpaid			9,535				8,392				13.6%
Prepaid			27,309				25,964				5.2%
ARPU (COP)			15,894				16,688				-4.8%
Churn (%)			3.70%				4.50%				(0.8	)
Revenue Generating Units (RGUs)(2)			9,184				8,789				4.5%

 

(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.

---

Peru

155k postpaid net adds

We ended September with 12.3 million wireless subscribers, 3.8% more than a year before. In line with the trends observed the last few quarters, clients continue to migrate from prepaid to postpaid: we booked 155 thousand net contract gains, but lost 101 thousand prepaid subscribers. Fixed-line RGUs increased by 31 thousand in the period—including 12 thousand broadband accesses and 11 thousand PayTV subscriptions—to reach almost two million units.

Mobile service revenue +5.5% YoY

Total revenue reached 1.6 billion Peruvian soles, 1.1% more than a year before, with service revenue rising 4.5%. Mobile service revenue increased 5.5% with postpaid revenue expanding 9.6%. On the fixed-line platform, service revenue came in at 1.4% above the prior year on the back of PayTV revenue and broadband revenue which rose 10.3% and 3.7%, respectively.

EBITDA growth recovered

As a result of revenue growth, cost controls and better equipment margins, EBITDA recovered from a -10.6% decline in the second quarter to a -0.9% in the third quarter. The EBITDA margin stood at 36.3%.

We continue to have a positive balance from Mobile Number Portability which reflects the consumer preferences for Claro’s network and customer care.

Income Statement - Perú Millions of Soles

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			1,584				1,567				1.1	%			4,780				4,503				6.1	%
Total Service Revenue			1,188				1,138				4.4	%			3,482				3,271				6.4	%
Wireless Revenue			1,279				1,268				0.9	%			3,880				3,636				6.7	%
Service Revenue			891				844				5.5	%			2,605				2,423				7.5	%
Equipment Revenue			388				424				-8.3	%			1,275				1,213				5.1	%
Fixed Line Revenue			297				294				1.3	%			877				849				3.4	%
EBITDA			575				580				-0.9	%			1,601				1,701				-5.9	%
% total revenue			36.3	%			37.0	%							33.5	%			37.8	%
EBIT			278				276				0.9	%			711				828				-14.2	%
% total revenue			17.6	%			17.6	%							14.9	%			18.4	%

 

(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.

Peru Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			12,256				11,810				3.8%
Postpaid			5,521				4,921				12.2%
Prepaid			6,735				6,890				-2.2%
ARPU (Sol)			24				24				0.6%
Churn (%)			4.4%				4.0%				0.4
Revenue Generating Units (RGUs)(1)			1,993				1,886				5.7%

 

(1)	Fixed Line, Broadband and Television.

---

Ecuador

98k wireless net adds

Our wireless subscriber base finished September with 8.9 million clients, 4.1% more than a year before, after adding 98 thousand new clients in the period. On the fixed-line segment we had a total of 607 thousand RGUs, 18.4% more than a year before, following net gains of 25 thousand units including almost 10 thousand new broadband accesses.

Fixed-line service revenue 4.7% YoY

Revenue reached 260 million dollars, 2.4% more than in the same quarter of last year with service revenue rising 2.0%, up from 0.4% in the second quarter and -3.2% in the first. Mobile service revenue increased 1.6% to 203 million dollars in spite of a downfall in ARPU that resulted from aggressive promotions in the midst of a tough economic environment. Fixed-line service revenue growth improved from 2.2% in the second quarter to 4.7% in the current period on the back of greater cross-selling efforts with attractive bundle offers.

EBITDA was up 5.1% YoY

At 123 million dollars third quarter EBITDA came in 5.1% above last year’s, resulting from better top line performance and operating efficiencies. The EBITDA margin reached 47.3%; 1.2 percentage points higher than that of the third quarter of 2021.

Income Statement - Ecuador Millions of Dollars

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			260				254				2.4%				766				760				0.7%
Total Service Revenue			230				225				2.0%				675				677				-0.3%
Wireless Revenue			233				228				2.3%				683				681				0.3%
Service Revenue			203				200				1.6%				595				600				-0.7%
Equipment Revenue			30				28				7.0%				88				81				8.4%
Fixed Line Revenue			27				26				3.4%				82				79				4.0%
EBITDA			123				117				5.1%				356				342				4.0%
% total revenue			47.3%				46.0%								46.5%				45.0%
EBIT			71				66				7.6%				212				185				14.7%
% total revenue			27.2%				25.9%								27.6%				24.3%

 

(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.

Ecuador Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			8,900				8,547				4.1%
Postpaid			2,170				2,070				4.8%
Prepaid			6,730				6,477				3.9%
ARPU (US$)			8				8				-3.2%
Churn (%)			3.3%				3.3%				—
Revenue Generating Units (RGUs)(1)			607				512				18.4%

 

(1)	Fixed Line, Broadband and Television.

---

Chile

Joint venture between Claro Chile with VTR

On October 6th, we received the approvals to proceed with the joint venture of our operation Claro Chile and VTR. The combined entity will be better positioned to increase access and coverage in the country and will generate benefits for its clients.

44k prepaid net adds

During the third quarter we disconnected 84 thousand postpaid subscribers and added 44 thousand prepaids to finish September with 7.2 million wireless subscribers, 5.4% more than a year before. We also had 1.2 million fixed-line RGUs after cutting 51 thousand fixed units in the period.

EBITDA came in at 17M ChP

Total revenue contracted 21.5% on the back of service revenue that fell 10.9% and equipment revenue that plummeted 51.4% over the year. On the mobile segment, service revenue declined 15.7% and on the fixed-line segment 5.2%. EBITDA for the period came in at 16.6 million Chilean pesos; it was equivalent to 9.9% of revenue.    

Income Statement - Chile Millions of ChP

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			167,813				213,756				-21.5%				551,540				607,266				-9.2%
Total Service Revenue			142,183				159,529				-10.9%				442,111				483,625				-8.6%
Wireless Revenue			98,028				138,560				-29.3%				337,370				381,255				-11.5%
Service Revenue			72,501				86,011				-15.7%				228,081				260,505				-12.4%
Equipment Revenue			25,528				52,550				-51.4%				109,289				120,750				-9.5%
Fixed Line Revenue			69,683				73,519				-5.2%				214,032				223,120				-4.1%
EBITDA			16,617				36,685				-54.7%				82,749				119,604				-30.8%
% total revenue			9.9%				17.2%								15.0%				19.7%
EBIT			-43,015				-12,235				-251.6%				-79,322				-30,665				-158.7%
% total revenue			-25.6%				-5.7%								-14.4%				-5.0%

 

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

Chile Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			7,188				6,818				5.4%
Postpaid			2,905				2,757				5.4%
Prepaid			4,283				4,060				5.5%
ARPU (ChP)			3,343				4,508				-25.8%
Churn (%)			4.7%				4.7%				—
Revenue Generating Units (RGUs)(1)			1,233				1,345				-8.4%

 

(1)	Fixed Line, Broadband and Television.

---

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.

105k wireless net adds and 255k fixed-line new RGUs

We ended September with 23.8 million wireless subscribers after adding 105 thousand wireless subscribers in the third quarter; two thirds were postpaid. Fixed-line RGUs rose 54% over the year to 2.4 million after net additions of 255 thousand in the quarter including 95 thousand new broadband accesses.

Price increases fell short of actual inflation, affecting revenues

Third quarter revenue of 66.3 billion Argentinean pesos was down 12.8% compared to the prior year as a result of an 18.4% contraction in service revenue that compares to minus 10.7% in the second quarter. The price increases we planned for fell short of actual inflation rates exacerbating the impact in revenue; additionally, consumers have felt more constrained in terms of disposable income and we experienced more pressure in ARPU. Mobile service revenue was 19.8% below than that of the same period of last year while fixed service revenue declined 10.2% in real terms.

EBITDA margin at 40.2% of revenue

We have made extraordinary efforts to adjust costs; EBITDA for the quarter was 26.7 billion Argentinean pesos, 14.5% lower than last year, EBITDA margin was equivalent to 40.2% of revenue, 0.8 percentage points below last year’s.

Committed to excel in customer experience—albeit inflationary challenges—Claro continues to lead in mobile number portability.

Income Statement - Argentina Millions of Constant ARS of September 2022

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			66,274				76,035				-12.8%				203,026				220,778				-8.0%
Total Service Revenue			49,988				61,295				-18.4%				160,408				179,416				-10.6%
Wireless Revenue			58,566				67,500				-13.2%				179,321				196,324				-8.7%
Service Revenue			42,467				52,919				-19.8%				137,212				155,448				-11.7%
Equipment Revenue			16,100				14,582				10.4%				42,109				40,876				3.0%
Fixed Line Revenue			7,521				8,376				-10.2%				23,195				23,967				-3.2%
EBITDA			26,667				31,204				-14.5%				82,053				88,623				-7.4%
% total revenue			40.2%				41.0%								40.4%				40.1%
EBIT			21,772				25,206				-13.6%				66,478				70,184				-5.3%
% total revenue			32.9%				33.2%								32.7%				31.8%

 

(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.

Argentina Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			23,775				23,049				3.1%
Postpaid			9,072				8,724				4.0%
Prepaid			14,702				14,325				2.6%
ARPU (ARS)			628				794				-21.0%
Churn (%)			1.5%				1.3%				0.2
Revenue Generating Units (RGUs)(1)			2,356				1,535				53.5%

 

(1)	Fixed Line, Broadband and Television.

---

Central America

192k mobile net adds and 65k new fixed-line RGUs

Our operations in Central America added 192 thousand subscribers including 51 thousand contract subs. Our wireless subscriber base ended September with 16.4 million, a 6.4% increase from the year-earlier quarter. Fixed-line RGUs rose 5.4% annually to 4.6 million after net gains of 65 thousand units that include 43 thousand additional PayTV units and 31 thousand broadband accesses.

Service revenue accelerated to 3.6%

Revenue of 589 million dollars in the third quarter was 5.4% above that of the prior year as service revenue growth accelerated to 3.6% from 1.9% in the second quarter. Following subscriber growth, we saw mobile service revenue expanding 6.5%—the highest growth rate in six quarters—with strong performance in all markets, with prepaid revenue increasing 7.2% and postpaid 5.5%. Fixed-line service revenue fell 1.5% as the decline in wireline voice revenue, 7.9%, more than offset revenue growth in the other segments: PayTV, 4.4%; corporate networks, 2.8%; and broadband 0.7%.

EBITDA +1.2% YoY

EBITDA came in at 252 million dollars which is equivalent to 42.8% of revenues. The period’s EBITDA was 1.2% above that of the prior year.

5G launch in Guatemala

On July 20th we launched 5G services in Guatemala with nation-wide presence covering all major cities. We continue to improve our platforms and were recognized by OOKLA as the best network in all markets in Central America.

Networks and overall customer experience have allowed us to report net gains from mobile number portability in every country in the block.

---

Income Statement⁽¹⁾ - Central America Millions of Dollars

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(2)			589				559				5.4%				1,740				1,661				4.8%
Total Service Revenue			505				487				3.6%				1,499				1,453				3.2%
Wireless Revenue			401				370				8.3%				1,174				1,097				7.1%
Service Revenue			329				309				6.5%				969				918				5.6%
Equipment Revenue			72				61				17.5%				205				179				14.7%
Fixed Line Revenue			183				185				-1.1%				551				552				-0.3%
EBITDA			252				249				1.2%				758				730				3.8%
% total revenue			42.8%				44.6%								43.5%				44.0%
EBIT			134				139				-3.9%				408				392				4.1%
% total revenue			22.7%				24.9%								23.4%				23.6%

 

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

Central America Operating Data⁽¹⁾

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			16,381				15,392				6.4%
Postpaid			2,333				2,168				7.6%
Prepaid			14,049				13,224				6.2%
ARPU (US$)			7				7				-0.1%
Churn (%)			5.9%				5.7%				0.2
Revenue Generating Units (RGUs)(2)			4,579				4,343				5.4%

 

(1)	Fixed Line, Broadband and Television.

(2)	Fixed Line, Broadband and Television.

---

Caribbean

59k wireless net adds in Dominican Republic

We added 59 thousand wireless subscribers in the Dominican Republic. Postpaid net adds came in line with those of the last two quarters at 13 thousand whereas prepaid additions totaled 46 thousand. We ended the period with 6.2 million clients, 7.1% more than a year before. Fixed-line RGUs expanded 2.6% over the year after adding four thousand units.

Service revenue +5.4% YoY in Dominican Republic

In the Dominican Republic, revenue rose 6.0% year-on-year to 14.8 billion Dominican pesos, with service revenue increasing 5.4%. Wireless service revenue was up 5.1% in the period climbing 7.1% in the postpaid segment and 3.5% on prepaid. Fixed-line service revenue was 5.8% greater than in the year-earlier quarter on the back of broadband and corporate networks revenue that expanded 13.8% and 13.0%, respectively.

EBITDA +5.7% YoY in Dominican Republic

EBITDA increased 5.7% to 7.6 billion Dominican pesos and the EBITDA margin remained practically unchanged at 51.3%.

Puerto Rico hit by hurricane Fiona

On September 17th Puerto Rico was hit by hurricane Fiona, causing widespread flooding and severe damage. Power went out leaving thousands of households without basic services like water and functioning sewer systems. Claro has made a great effort to restore communication services in the island using alternative sources of power and emergency equipment.

On account of the disruption experienced in the last two weeks of the quarter, we saw a deterioration of operating and financial metrics in the period. The full damage and impact is being assessed and will be reported in due course.

Service revenue +3.2% YoY

Total revenue declined 1.2% relative to last year with service revenue up 3.2%. Wireless service revenue remained roughly flat even as prepaid revenue declined 8.2%. Fixed-line service revenue was up 8.7% as a result of strong growth in Pay TV services that more than doubled over the year, and broadband revenue that increased 10.8%. EBITDA declined 0.6% as the EBITDA margin stood at 19.4% of revenue.

Income Statement - Caribbean Millions of Dollars

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			489				462				5.8%				1,448				1,381				4.9%
Total Service Revenue			435				404				7.8%				1,280				1,203				6.4%
Wireless Revenue			307				294				4.2%				925				876				5.6%
Service Revenue			255				240				6.0%				756				704				7.4%
Equipment Revenue			52				54				-4.0%				168				171				-1.8%
Fixed Line Revenue			184				166				11.0%				531				505				5.1%
EBITDA			182				168				8.5%				542				500				8.3%
% total revenue			37.2%				36.3%								37.4%				36.2%
EBIT			95				83				14.0%				282				248				13.5%
% total revenue			19.5%				18.1%								19.4%				18.0%

 

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

Caribbean Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			7,276				6,876				5.8%
Postpaid			2,162				2,130				1.5%
Prepaid			5,114				4,747				7.7%
ARPU (US$)			12				12				-2.1%
Churn (%)			3.2%				3.1%				0.1
Revenue Generating Units (RGUs)(1)			2,695				2,630				2.5%

 

(1)	Fixed Line, Broadband and Television.

---

Austria

345k wireless net adds

We added 345 thousand subscribers in the third quarter, almost all were postpaid. Our wireless subscriber base finished September with 8.7 million, 13.3% more than a year before. On the fixed-line segment we ended the quarter with three million RGUs after net disconnections of 24 thousand in the period.

Mobile service revenue +4.8% YoY

Revenue growth of 4.5% accelerated from 1.5% in the second quarter backed by equipment revenue growth of 38%. Service revenue rose 1.0% with mobile service revenue increasing 4.8% more than compensating for the fixed-line service revenue decline of 1.7%. We had a good performance in mobile stemming from improvements in visitor roaming, strong demand for mobile-WiFi services and inflation-linked price adjustments. Fixed-line service revenue suffered from a contraction in retail sales.

EBITDA +4.7% YoY

Our adjusted EBITDA was roughly flat, +0.2%, whereas EBITDA increased 4.7% to 292 million euros on account to the release of pension related provisions associated to interest rate increases. The aforementioned effect more than compensated for surging electricity costs, greater content and advertising costs and overall operating expenses that have been affected by rising inflation. The margin for the quarter stood at 41.6% of revenue, just above that of the year-earlier quarter.

Income Statement - Austria Millions of Euros

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			702				673				4.5%				2,042				1,996				2.3%
Total Service Revenue			608				601				1.0%				1,799				1,773				1.4%
Wireless Revenue			319				303				5.4%				923				888				3.9%
Service Revenue			264				252				4.8%				769				729				5.4%
Equipment Revenue			55				50				8.3%				154				159				-3.0%
Fixed Line Revenue			371				359				3.5%				1,081				1,072				0.8%
EBITDA			292				279				4.7%				795				757				5.0%
% total revenue			41.6%				41.5%								38.9%				37.9%
Adjusted EBITDA(2)			301				300				0.2%				845				820				3.0%
% total revenue			42.8%				44.6%								41.4%				41.1%
EBIT			154				144				7.0%				383				347				10.5%
% total revenue			21.9%				21.4%								18.8%				17.4%

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

 

(1)	Total revenue includes other income.

(2)	Does not include restructuring charges in Austria.

Austria Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)(1)			8,651				7,638				13.3	%
Postpaid			7,568				6,616				14.4	%
Prepaid			1,082				1,022				5.9	%
ARPU (euros)			11				11				-6.3	%
Churn (%)			0.7	%			0.8	%			-0.1
Revenue Generating Units (RGUs)(2)			2,971				3,074				-3.4	%

 

(1)	Includes A1 Digital subscribers.

(2)	Fixed Line, Broadband and Television.

---

Other European

156k wireless net adds and 43k new RGUs

Our combined operations in Eastern Europe registered net additions of 156 thousand in the quarter including 45 thousand from Macedonia, 41 thousand from Bulgaria, 39 thousand from Croatia and 23 thousand from Belarus. Our combined base ended the quarter with 15.1 million wireless subscribers, 0.2% more than a year before. On the fixed-line segment we added 43 thousand RGUs bringing the total to 3.2 million RGUs, 6.9% more than a year before. Belarus lead the way with 25 thousand followed by Bulgaria with 11 thousand. Broadband was the fastest growing division.

Service revenue +8.6% YoY at constant exchange rates

Revenue growth accelerated to 10.1% from 7.3% in the precedent quarter to 601 million euros. Service revenue rose 11.2%; with mobile growing 9.6% and fixed expanding 16.1%. All operations posted service revenue growth and solid operational trends; Belarus registered the highest nominal growth rate partly on account of a sharp appreciacition of its currency vs. the euro.

EBITDA +8.7% YoY at constant exchange rates

EBITDA came in at 237 million euros, 11.9% more than a year before as inflationary pressures were more than offset by strong top line performance and noteworthy EBITDA expansion in Belarus and Bulgaria. The margin for the period was 39.5%, up 60 basis points from last year’s quarter. Excluding the effect of the appreciation mentioned above the EBITDA increased 8.7% year-on-year .

Income Statement - Other European Millions of Euros

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Total Revenue(1)			601				545				10.1%				1,653				1,536				7.6%
Total Service Revenue			471				424				11.2%				1,308				1,196				9.4%
Wireless Revenue			459				428				7.3%				1,265				1,198				5.6%
Service Revenue			353				322				9.6%				974				899				8.3%
Equipment Revenue			106				106				0.3%				291				299				-2.7%
Fixed Line Revenue			130				109				19.1%				356				313				13.6%
EBITDA			237				212				11.9%				646				585				10.4%
% total revenue			39.5%				38.8%								39.1%				38.1%
EBIT			131				112				17.1%				342				289				18.5%
% total revenue			21.9%				20.6%								20.7%				18.8%

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

 

(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.

Other European Operating Data

 

		3Q22				3Q21				Var.%
Wireless Subscribers (thousands)			15,125				15,094				0.2%
Postpaid			12,140				11,977				1.4%
Prepaid			2,985				3,117				-4.2%
ARPU (euros)			8				7				8.1%
Churn (%)			1.6%				1.5%				0.2
Revenue Generating Units (RGUs)(1)			3,183				2,979				6.9%

 

(1)	Fixed Line, Broadband and Television.

---

Exchange Rates Local Currency Units per Mexican peso

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Euro
End of Period			0.0502				0.0425				18.1	%			0.0502				0.0425				18.1	%
Average			0.049				0.0424				15.7	%			0.0463				0.0415				11.5	%
U.S.
End of Period			0.0492				0.0492				0.0	%			0.0492				0.0492				0.0	%
Average			0.0494				0.05				-1.2	%			0.0493				0.0497				-0.7	%
Brazilean Real
End of Period			0.2663				0.2679				-0.6	%			0.2663				0.2679				-0.6	%
Average			0.2591				0.2612				-0.8	%			0.2532				0.265				-4.4	%
Argentinean Peso
End of Period			7.2551				4.8626				49.2	%			7.2551				4.8626				49.2	%
Average			6.6997				4.8596				37.9	%			5.9218				4.6359				27.7	%
Chilean Peso
End of Period			47.289				39.9833				18.3	%			47.289				39.9833				18.3	%
Average			45.6985				38.535				18.6	%			42.3467				36.6291				15.6	%
Colombian Peso
End of Period			223.19				188.84				18.2	%			223.19				188.84				18.2	%
Average			216.21				192.14				12.5	%			200.68				183.70				9.2	%
Guatemalan Quetzal
End of Period			0.3882				0.3809				1.9	%			0.3882				0.3809				1.9	%
Average			0.3832				0.3868				-0.9	%			0.3807				0.3846				-1.0	%
Peruvian Sol
End of Period			0.1962				0.2037				-3.7	%			0.1962				0.2037				-3.7	%
Average			0.1923				0.2023				-4.9	%			0.1884				0.1906				-1.2	%
Dominican Republic Peso
End of Period			2.6505				2.7869				-4.9	%			2.6505				2.7869				-4.9	%
Average			2.6716				2.8546				-6.4	%			2.7295				2.8539				-4.4	%

---

Exchange Rates Local Currency Units per USD

 

		3Q22				3Q21				Var.%				Jan-Sep 22				Jan-Sep 21				Var.%
Euro
End of Period			1.0202				0.8636				18.1	%			1.0202				0.8636				18.1	%
Average			0.9927				0.8482				17.0	%			0.9388				0.8359				12.3	%
Mexican Peso
End of Period			20.3058				20.306				0.0	%			20.3058				20.306				0.0	%
Average			20.2412				20.0062				1.2	%			20.267				20.1188				0.7	%
Brazilean Real
End of Period			5.4066				5.4394				-0.6	%			5.4066				5.4394				-0.6	%
Average			5.2444				5.2254				0.4	%			5.1318				5.3313				-3.7	%
Argentinean Peso
End of Period			147.32				98.74				49.2	%			147.32				98.74				49.2	%
Average			135.609				97.2213				39.5	%			120.0163				93.2692				28.7	%
Chilean Peso
End of Period			960.24				811.9				18.3	%			960.24				811.9				18.3	%
Average			924.992				770.9386				20.0	%			858.242				736.9324				16.5	%
Colombian Peso
End of Period			4,532.07				3,834.68				18.2	%			4,532.07				3,834.68				18.2	%
Average			4,376.41				3,844.06				13.8	%			4,067.10				3,695.83				10.0	%
Guatemalan Quetzal
End of Period			7.8837				7.7337				1.9	%			7.8837				7.7337				1.9	%
Average			7.7571				7.7384				0.2	%			7.715				7.7379				-0.3	%
Peruvian Sol
End of Period			3.984				4.136				-3.7	%			3.984				4.136				-3.7	%
Average			3.8928				4.0463				-3.8	%			3.8181				3.8353				-0.4	%
Dominican Republic Peso
End of Period			53.82				56.59				-4.9	%			53.82				56.59				-4.9	%
Average			54.0757				57.1089				-5.3	%			55.3196				57.4168				-3.7	%

---

Appendix

Financial Debt of América Móvil⁽¹⁾ Millions

 

		Sep-22				Dec-21
Peso - denominated debt (MxP)			100,214				85,737
Bonds(2)			51,934				51,657
Banks and others			48,280				34,080
U.S. Dollar - denominated debt (USD)			8,521				8,466
Bonds			8,496				7,751
Banks and others			25				715
Euro - denominated Debt (EUR)			7,320				8,497
Bonds			6,150				7,697
Commercial Paper			50				0
Banks and others			1,120				800
Sterling - denominated Debt (GBP)			2,200				2,200
Bonds			2,200				2,200
Reais - denominated Debt (BRL)			9,891				5,500
Bonds			8,250				5,500
Banks and others			1,641				0
Debt denominated in other currencies(3) (MxP)			18,515				23,384
Bonds			5,446				6,102
Banks and others			13,069				17,282
Total Debt (MxP)			524,503				564,030
Cash, Marketable Securities and Short Term Financial Investments(4) (MxP)			119,678				163,278
Net Debt (MxP)			404,825				400,752

 

(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 and Chilean pesos.

(4)	Includes fixed income securities with nominal tenor of more than one year.

Summary Cash Flow Millions of Mexican pesos

 

		Jan-Sep 22				Jan-Sep 21
Funds from Operations			115,276				185,723
Capital Expenditures			105,271				91,536
Free Cash Flow(1)			8,521				92,616
Dividends and Share Buybacks			45,746				34,791
Sale of Ownership Interest(2)			-33,459				-1,141
Net Debt Amortizations(2)			-24,993				37,600
Amortization of Labor Obligations			19,970				14,540
Other			1,257				6,828

 

(1)	There are approximately one billion pesos directed to the provisioning to the early retirement plans in Austria that has been substracted from the Free Cash Flow in 2022 and 2021.

(2)	Includes 47 billion pesos from the spin-off of Sitios Latinoamérica which is treated as a sale with the proceeds utilized to reduce debt.

---

AMERICA MOVIL, S.A.B. DE C.V.		Consolidated
Ticker: AMX		Quarter: 3 Year: 2022

 

[210000] Statement of financial position, current/non-current

 

Concept		Close Current Quarter 2022-09-30				Close Previous Exercise 2021-12-31
Statement of financial position [abstract]
Assets [abstract]
Current assets [abstract]
Cash and cash equivalents			27,678,829,000				38,679,891,000
Trade and other current receivables			165,035,264,000				160,271,044,000
Current tax assets, current			47,415,550,000				43,734,164,000
Other current financial assets			89,002,254,000				127,834,008,000
Current inventories			31,821,865,000				24,185,310,000
Current biological assets			0				0
Other current non-financial assets			15,628,480,000				9,452,252,000
Total current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners			376,582,242,000				404,156,669,000
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners			0				0
Total current assets			376,582,242,000				404,156,669,000
Non-current assets [abstract]
Trade and other non-current receivables			7,812,599,000				6,928,888,000
Current tax assets, non-current			11,843,137,000				11,792,731,000
Non-current inventories			0				0
Non-current biological assets			0				0
Other non-current financial assets			6,833,188,000				6,894,757,000
Investments accounted for using equity method			0				0
Investments in subsidiaries, joint ventures and associates			3,142,178,000				3,052,481,000
Property, plant and equipment			664,396,511,000				731,196,679,000
Investment property			0				0
Right-of-use assets that do not meet definition of investment property			121,944,582,000				90,372,393,000
Goodwill			143,330,328,000				136,578,194,000
Intangible assets other than goodwill			131,646,378,000				143,225,764,000
Deferred tax assets			133,125,491,000				127,287,934,000
Other non-current non-financial assets			29,646,934,000				28,163,359,000
Total non-current assets			1,253,721,326,000				1,285,493,180,000
Total assets			1,630,303,568,000				1,689,649,849,000
Equity and liabilities [abstract]
Liabilities [abstract]
Current liabilities [abstract]
Trade and other current payables			207,482,416,000				237,206,440,000
Current tax liabilities, current			61,160,714,000				59,525,325,000
Other current financial liabilities			178,271,412,000				155,257,180,000
Current lease liabilities			33,969,414,000				27,632,357,000
Other current non-financial liabilities			0				0
Current provisions [abstract]
Current provisions for employee benefits			23,349,552,000				16,858,343,000
Other current provisions			38,764,266,000				37,533,121,000
Total current provisions			62,113,818,000				54,391,464,000
Total current liabilities other than liabilities included in disposal groups classified as held for sale			542,997,774,000				534,012,766,000
Liabilities included in disposal groups classified as held for sale			0				0
Total current liabilities			542,997,774,000				534,012,766,000
Non-current liabilities [abstract]
Trade and other non-current payables			2,593,022,000				2,698,276,000
Current tax liabilities, non-current			0				0

---

AMERICA MOVIL, S.A.B. DE C.V.		Consolidated
Ticker: AMX		Quarter: 3 Year: 2022

 

Concept		Close Current Quarter 2022-09-30				Close Previous Exercise 2021-12-31
Other non-current financial liabilities			380,429,841,000				418,807,430,000
Non-current lease liabilities			100,213,526,000				71,021,868,000
Other non-current non-financial liabilities			0				0
Non-current provisions [abstract]
Non-current provisions for employee benefits			131,185,993,000				142,850,465,000
Other non-current provisions			10,825,576,000				16,752,223,000
Total non-current provisions			142,011,569,000				159,602,688,000
Deferred tax liabilities			30,501,424,000				49,465,095,000
Total non-current liabilities			655,749,382,000				701,595,357,000
Total liabilities			1,198,747,156,000				1,235,608,123,000
Equity [abstract]
Issued capital			95,327,783,000				96,333,432,000
Share premium			0				0
Treasury shares			0				0
Retained earnings			496,298,343,000				447,690,426,000
Other reserves			(222,147,259,000	)			(154,388,931,000	)
Total equity attributable to owners of parent			369,478,867,000				389,634,927,000
Non-controlling interests			62,077,545,000				64,406,799,000
Total equity			431,556,412,000				454,041,726,000
Total equity and liabilities			1,630,303,568,000				1,689,649,849,000

---

AMERICA MOVIL, S.A.B. DE C.V.		Consolidated
Ticker: AMX		Quarter: 3 Year: 2022

 

[310000] Statement of comprehensive income, profit or loss, by function of expense

 

Concept		Accumulated Current Year 2022-01-01 - 2022-09-30				Accumulated Previous Year 2021-01-01  - 2021-09-30				Quarter Current Year 2022-07-01  - 2022-09-30				Quarter Previous Year 2021-07-01  - 2021-09-30
Profit or loss [abstract]
Profit (loss) [abstract]
Revenue			641,666,233,000				625,907,639,000				214,466,279,000				210,770,583,000
Cost of sales			375,055,641,000				370,755,974,000				124,038,171,000				124,462,566,000
Gross profit			266,610,592,000				255,151,665,000				90,428,108,000				86,308,017,000
Distribution costs			92,939,167,000				88,981,968,000				31,191,924,000				29,717,863,000
Administrative expenses			46,126,820,000				43,736,756,000				14,492,902,000				14,255,875,000
Other income			0				0				0				0
Other expense			3,186,901,000				3,858,842,000				1,172,300,000				933,204,000
Profit (loss) from operating activities			124,357,704,000				118,574,099,000				43,570,982,000				41,401,075,000
Finance income			37,928,690,000				2,789,506,000				7,073,736,000				1,246,694,000
Finance costs			65,102,551,000				46,465,063,000				23,542,956,000				26,279,698,000
Share of profit (loss) of associates and joint ventures accounted for using equity method			48,014,000				118,674,000				52,303,000				102,551,000
Profit (loss) before tax			97,231,857,000				75,017,216,000				27,154,065,000				16,470,622,000
Tax income (expense)			33,851,832,000				22,876,408,000				10,852,082,000				3,755,909,000
Profit (loss) from continuing operations			63,380,025,000				52,140,808,000				16,301,983,000				12,714,713,000
Profit (loss) from discontinued operations			3,378,869,000				12,301,354,000				3,405,014,000				4,866,761,000
Profit (loss)			66,758,894,000				64,442,162,000				19,706,997,000				17,581,474,000
Profit (loss), attributable to [abstract]
Profit (loss), attributable to owners of parent			62,449,704,000				60,436,753,000				17,969,166,000				15,810,799,000
Profit (loss), attributable to non-controlling interests			4,309,190,000				4,005,409,000				1,737,831,000				1,770,675,000
Earnings per share [text block]
Earnings per share [abstract]
Earnings per share [line items]
Basic earnings per share [abstract]
Basic earnings (loss) per share from continuing operations			0.92				0.72				0.23				0.17
Basic earnings (loss) per share from discontinued operations			0.05				0.18				0.05				0.07
Total basic earnings (loss) per share			0.97				0.9				0.28				0.24
Diluted earnings per share [abstract]
Diluted earnings (loss) per share from continuing operations			0.92				0.72				0.23				0.17
Diluted earnings (loss) per share from discontinued operations			0.05				0.18				0.05				0.07
Total diluted earnings (loss) per share			0.97				0.9				0.28				0.24

---

AMERICA MOVIL, S.A.B. DE C.V.		Consolidated
Ticker: AMX		Quarter: 3 Year: 2022

 

[520000] Statement of cash flows, indirect method

 

Concept		Accumulated Current Year 2022-01-01 - 2022-09-30				Accumulated Previous Year 2021-01-01 - 2021-09-30
Statement of cash flows [abstract]
Cash flows from (used in) operating activities [abstract]
Profit (loss)			66,758,894,000				64,442,162,000
Adjustments to reconcile profit (loss) [abstract]
+ Discontinued operations			(2,808,752,000	)			896,391,000
+ Adjustments for income tax expense			33,851,832,000				22,876,408,000
+ (-) Adjustments for finance costs			15,016,511,000				32,373,967,000
+ Adjustments for depreciation and amortisation expense			122,386,951,000				119,863,151,000
+ Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss			0				0
+ Adjustments for provisions			14,497,642,000				16,037,279,000
+ (-) Adjustments for unrealised foreign exchange losses (gains)			0				0
+ Adjustments for share-based payments			0				0
+ (-) Adjustments for fair value losses (gains)			0				0
- Adjustments for undistributed profits of associates			0				0
+ (-) Adjustments for losses (gains) on disposal of non-current assets			330,915,000				566,035,000
			(48,014,000	)			(118,674,000	)
+ (-) Adjustments for decrease (increase) in inventories			(8,624,834,000	)			(1,647,223,000	)
+ (-) Adjustments for decrease (increase) in trade accounts receivable			(16,641,490,000	)			(2,330,062,000	)
+ (-) Adjustments for decrease (increase) in other operating receivables			(8,288,310,000	)			(10,417,083,000	)
+ (-) Adjustments for increase (decrease) in trade accounts payable			(10,006,014,000	)			2,052,478,000
+ (-) Adjustments for increase (decrease) in other operating payables			(20,312,183,000	)			(17,939,314,000	)
+ Other adjustments for non-cash items			0				0
+ Other adjustments for which cash effects are investing or financing cash flow			0				0
+ Straight-line rent adjustment			0				0
+ Amortization of lease fees			0				0
+ Setting property values			0				0
+ (-) Other adjustments to reconcile profit (loss)			0				0
+ (-) Total adjustments to reconcile profit (loss)			119,354,254,000				162,213,353,000
Net cash flows from (used in) operations			186,113,148,000				226,655,515,000
- Dividends paid			0				0
			0				0
- Interest paid			0				0
+ Interest received			2,749,169,000				1,835,271,000
+ (-) Income taxes refund (paid)			39,490,141,000				26,544,350,000
+ (-) Other inflows (outflows) of cash			0				0
Net cash flows from (used in) operating activities			149,372,176,000				201,946,436,000
Cash flows from (used in) investing activities [abstract]
+ Cash flows from losing control of subsidiaries or other businesses			4,282,383,000				822,000,000
- Cash flows used in obtaining control of subsidiaries or other businesses			17,368,908,000				0
+ Other cash receipts from sales of equity or debt instruments of other entities			0				0
- Other cash payments to acquire equity or debt instruments of other entities			0				0
+ Other cash receipts from sales of interests in joint ventures			2,829,000				325,199,000
- Other cash payments to acquire interests in joint ventures			0				0
+ Proceeds from sales of property, plant and equipment			207,731,000				171,994,000
- Purchase of property, plant and equipment			103,313,027,000				84,465,790,000
+ Proceeds from sales of intangible assets			0				0
- Purchase of intangible assets			1,738,197,000				5,991,969,000
+ Proceeds from sales of other long-term assets			0				0
- Purchase of other long-term assets			0				0

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AMERICA MOVIL, S.A.B. DE C.V.		Consolidated
Ticker: AMX		Quarter: 3 Year: 2022

 

Concept		Accumulated Current Year 2022-01-01 - 2022-09-30				Accumulated Previous Year 2021-01-01 - 2021-09-30
+ Proceeds from government grants			0				0
- Cash advances and loans made to other parties			0				0
+ Cash receipts from repayment of advances and loans made to other parties			0				0
- Cash payments for futures contracts, forward contracts, option contracts and swap contracts			0				0
+ Cash receipts from futures contracts, forward contracts, option contracts and swap contracts			0				0
+ Dividends received			4,682,650,000				2,628,600,000
- Interest paid			0				0
+ Interest received			0				0
			0				0
+ (-) Other inflows (outflows) of cash			46,549,976,000				(4,439,718,000	)
Net cash flows from (used in) investing activities			(66,694,563,000	)			(90,949,684,000	)
Cash flows from (used in) financing activities [abstract]
+ Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control			0				0
- Payments from changes in ownership interests in subsidiaries that do not result in loss of control			6,076,000				5,850,000
+ Proceeds from issuing shares			0				0
+ Proceeds from issuing other equity instruments			0				0
- Payments to acquire or redeem entity’s shares			20,920,392,000				22,418,965,000
- Payments of other equity instruments			0				0
+ Proceeds from borrowings			127,348,086,000				70,789,875,000
- Repayments of borrowings			120,911,994,000				103,347,911,000
- Payments of finance lease liabilities			0				0
- Payments of lease liabilities			25,349,068,000				23,589,855,000
+ Proceeds from government grants			0				0
- Dividends paid			29,523,313,000				15,000,231,000
- Interest paid			21,332,493,000				16,607,756,000
+ (-) Income taxes refund (paid)			0				0
+ (-) Other inflows (outflows) of cash			0				0
Net cash flows from (used in) financing activities			(90,695,250,000	)			(110,180,693,000	)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			(8,017,637,000	)			816,059,000
Effect of exchange rate changes on cash and cash equivalents [abstract]
Effect of exchange rate changes on cash and cash equivalents			(2,983,425,000	)			(1,228,673,000	)
Net increase (decrease) in cash and cash equivalents			(11,001,062,000	)			(412,614,000	)
Cash and cash equivalents at beginning of period			38,679,891,000				35,917,907,000
Cash and cash equivalents at end of period			27,678,829,000				35,505,293,000

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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.
LTE		Long-term evolution is a 4th generation standard for wireless communication of high-speed data for mobile phones and data terminals.
Market share		A 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.
SMS		Short Message Service.
SAC		Subscriber Acquisition Cost. The sum of handset subsidies, marketing expenses and commissions to distributors for handset activation. Handset subsidy is calculated as the difference between equipment cost and equipment revenue.
Wireless penetration		The ratio of total wireless subscribers in any given country divided by the total population in that country.

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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 20, 2022

 

AMÉRICA MÓVIL, S.A.B. DE C.V.
By:		/s/ Carlos José Garcia Moreno Elizondo
Name: Carlos José Garcia Moreno Elizondo
Title: Chief Financial Officer