amxpr3q13_6k.htm - Generated by SEC Publisher for SEC Filing

 



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, 2013

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 Granada Ampliación 
11529 Mexico, D.F., 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 ___X___ 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 ___X____

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 ___X____

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 ___X____


 

 

 

AMÉRICA MÓVIL’S THIRD QUARTER OF 2013

FINANCIAL AND OPERATING REPORT

 

Mexico City, October 24, 2013 - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX] [NASDAQ: AMOV] [LATIBEX: XAMXL], announced today its financial and operating results for the third quarter of 2013.

 

•        We added 3.1 million subs in the third quarter to finish September with 265 million wireless subs, with our postpaid base rising 11.3% from the year-earlier quarter to 41.5 million. Brazil obtained 960 thousand new subscribers—twice as many as in the third quarter of last year—whereas in Colombia we added 559 thousand subs and in both Mexico and Central America slightly less than 500 thousand.

 

•        On the fixed-line platform we gained 1.4 million RGUs in the third quarter—including 698 thousand PayTV units, 470 thousand broadband accesses and 256 thousand fixed lines—to finish September with 68.3 million, 8.6% more than a year before. Nearly three quarters of our net RGU additions, 1.1 million, came from Brazil.

 

•        Revenues totaled 194.2 billion pesos in the quarter. They were up 0.7% year-on-year in peso terms but at constant exchange rates they increased 7.5% from the year-earlier quarter. The South American block’s service revenues rose 8.9%—the best performance in six quarters—and those of Central America and The Caribbean 4.9%. In Mexico, however, the weak state of economic activity led to a 2.1% decline in service revenues.

 

•        Mobile data and PayTV continued to be our more dynamic business lines, with revenues expanding at a rate of 22.4% and 21.7% respectively, whereas fixed-data revenues were up nearly 10%. Voice revenues were down on both the mobile and the fixed-line platforms by the same measure.

 

•        Third quarter EBITDA totaled 63.3 billion pesos and was down 5.8% on an annual basis; at constant exchange rates, it remained roughly flat (-0.5%). The EBITDA margin declined to 32.6% compared from 34.8% the year before. Depreciation and amortization charges remained at 13% of revenues.

 

•        After comprehensive financing costs of 10.8 billion pesos—which included a foreign exchange loss of 2.9 billion pesos, compared to a foreign exchange gain of 9.0 billion pesos a year earlier—we obtained a net profit of 16.4 billion pesos in the quarter. It was equivalent to 0.23 pesos per share or 0.35 dollar cents per ADR.

 

•        Our net debt stood at 440 billion pesos at the end of September, having increased 68.0 billion pesos from December. It was equivalent to 1.66 times EBITDA (LTM). It helped us cover capital outlays and shareholder distributions in the amount of 174 billion pesos, including capital expenditures totaling 78.7 billion pesos, acquisitions of 16.5 billion—including our share of the rights issue by KPN—share buybacks in the amount of 58.3 billion and dividend payments of 7.9 billion. In addition, we contributed 12.5 billion pesos to the funding of pension liabilities.

 

 

 


 
 

 

América Móvil Fundamentals (IFRS)

 

 

 

 

 

3Q13

3Q12

Var. %

EPS (Mex$) (1)

0.23

0.40

-42.9%

Earning per ADR (US$) (2)

0.35

0.61

-41.7%

Net Income (millions of Mex$)

16,384

30,451

-46.2%

Average Shares Outstanding (billion) (3)

71.72

76.12

-5.8%

Average ADRs Outstanding (millions) (4)

531

836

-36.5%

(1) Net Income / Average Shares outstanding (2) 20 shares per ADR (3) All figures in the table reflect retroactively the 2:1 split that became effective on June 29th, 2011 (4) As per Bank of NY Mellon

 

Relevant Events

 

On August 9th, we announced our intention to make a voluntary tender offer for all outstanding shares of KPN at an offer price of EUR 2.40 per share subject to the condition that we receive sufficient shares for our ownership interest in the company to reach at least 50% plus one share. The announcement came after initial conversations with KPN representatives and was followed by negotiations with the company with the objective of reaching an integral agreement that considered, among other topics, the strategic direction of the company, employment, national security, social policies, social plans, minority shareholder protection and corporate governance.

 

On August 29th, the independent KPN Foundation exercised its option to purchase class B preferred shares totaling 50% of all outstanding shares.

 

On October 16th, we received approval from the Dutch authorities (AFM) to proceed with the offer. However, with the Foundation still holding 50% of the shares it would have been impossible to satisfy the condition that we had set for the Intended Offer. Thus we announced that whereas the necessary authorizations had been received and no further approvals were needed in The Netherlands for us to proceed, we would not be able to complete the transaction because of the continued permanence of the Foundation.

América Móvil’s Subsidiaries as of September 2013

 

 

 

 

 

Country

Brand

Business

Equity

Participation

Consolidation Method

Mexico

Telcel

wireless

100.0%

Global Consolidation Method

 

Telmex

wireline

97.7%

Global Consolidation Method

 

Sección Amarilla (1)

other

100.0%

Global Consolidation Method

 

Telvista

other

89.0% (2)

Global Consolidation Method

Argentina

Claro

wireless

100.0%

Global Consolidation Method

 

Telmex

wireline

99.6%

Global Consolidation Method

Brazil

Claro

wireless

100.0%

Global Consolidation Method

 

Embratel(1)

wireline

95.5%

Global Consolidation Method

 

Net

Cable

88.1%

Global Consolidation Method

Chile

Claro

wireless

100.0%

Global Consolidation Method

 

Telmex(1)

wireline

100.0%

Global Consolidation Method

Colombia

Claro

wireless

99.4%

Global Consolidation Method

 

Telmex

wireline

99.3%

Global Consolidation Method

Costa Rica

Claro

wireless

100.0%

Global Consolidation Method

Dominicana

Claro

wireless/wireline

100.0%

Global Consolidation Method

Ecuador

Claro

wireless

100.0%

Global Consolidation Method

 

Telmex(1)

wireline

100.0%

Global Consolidation Method

El Salvador

Claro

wireless/wireline

95.8%

Global Consolidation Method

Guatemala

Claro

wireless/wireline

99.3%

Global Consolidation Method

Honduras

Claro

wireless/wireline

100.0%

Global Consolidation Method

Nicaragua

Claro

wireless/wireline

99.6%

Global Consolidation Method

Panama

Claro

wireless

100.0%

Global Consolidation Method

Paraguay

Claro

wireless

100.0%

Global Consolidation Method

Peru

Claro

wireless

100.0%

Global Consolidation Method

Puerto Rico

Claro

wireless/wireline

100.0%

Global Consolidation Method

Uruguay

Claro

wireless/wireline

100.0%

Global Consolidation Method

USA

Tracfone

wireless

98.2%

Global Consolidation Method

Netherlands

KPN

wireless/wireline

29.8%(3)

Equity Method

Austria

Telekom Austria

wireless/wireline

23.7%

Equity Method

(1) Equity Participation of Telmex Internacional of which América Móvil owns 97.65%. 

(2) AMX owns directly 45%and 45% through its subsidiary Telmex.

(3) Not taking into account the Class B Preference Shares held by the KPN Foundation.

2


 
 

 

 

On September 6, 2013, we issued three hybrid Notes for the equivalent of 2.8 billion dollars due 2073 in three tranches. One is for 900 million euros and carries a coupon of 5.125%, and two others—for 550 million euros and 550 million pounds—pay a 6.375% coupon.  Given the structure of the hybrid notes and their maturity dates, the rating agencies give them equity credit for 50% of the principal amount.

 

On September 12, 2013, we issued Floating Rate Notes in the amount of 750 million dollars due 2016.  Interest on the notes is 3 month LIBOR plus 1.0%.

 

Total Accesses

 

We finished September with 333.4 million accesses, 4.6% more than a year before. This figure comprises 265.1 million wireless subscribers, 31.0 million landlines, 18.8 million broadband accesses and 18.5 million PayTV units. The latter lines increased 17.4% on an annual basis followed by broadband accesses that rose 11.9%.

 

Wireless Subscribers

 

We had 265.1 million wireless subscribers at the end of September, 3.6% more than a year before after 3.1 million net additions in the quarter. Brazil gained 960 thousand new clients, twice as many as in the third quarter of last year, whereas in Colombia we added 559 thousand subs. In both Mexico and Central America, net adds were just shy of 500 thousand subs. Argentina obtained 406 thousand additions, Peru 283 thousand and Ecuador 187 thousand.

 

Our postpaid subscriber base was up 11.3% year on year after adding 780 thousand new subs, a fourth of the period’s net additions. Brazil showed a good improvement: at 164 thousand subs, postpaid net additions increased 135.6% relative to the precedent year. Mexico and Peru added around 190 thousand postpaid clients each while Colombia gained 82 thousand and Ecuador 61 thousand.

 

At the end of the quarter, we had 72.5 million subscribers in Mexico, 67.4 million in Brazil, 28.4 million in Colombia, 23 million in the US and 20.6 million in Argentina. In Central America, our subscriber base grew at a rate of 14.5%, the fastest among our operations, and ended September with 16.6 million clients.

 

Year-to-date, we have been net gainers of ported lines in every country with Mobile Number Portability with the exception of Puerto Rico. The number of port-in lines has actually accelerated in several of our operations as we continue to outperform in coverage, quality and technology.

 

 

 

3


 
 

 

 

Wireless Subscribers as of September 2013

Thousands

 

 

 

 

 

 

Total(1)

Country

Sep'13

Jun'13

Var.%

Sep'12

Var.%

Mexico

72,464

71,965

0.7%

69,171

4.8%

Brazil

67,432

66,472

1.4%

63,447

6.3%

Chile

5,940

6,275

-5.3%

5,804

2.3%

Argentina, Paraguay and Uruguay

21,949

21,529

2.0%

21,736

1.0%

Colombia

28,364

27,805

2.0%

29,962

-5.3%

Ecuador

11,887

11,700

1.6%

11,462

3.7%

Peru

11,495

11,212

2.5%

12,399

-7.3%

Central America* and Caribbean

22,530

22,046

2.2%

20,289

11.0%

USA

23,043

23,038

0.0%

21,639

6.5%

Total Wireless Lines

265,104

262,043

1.2%

255,909

3.6%

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. *Central America includes Panama and Costa Rica in every table.

 

Fixed Revenue Generating Units

 

Our fixed RGUs reached 68.3 million at the end of September; they were up 8.6% over the prior year. We added 1.4 million fixed-line accesses in the quarter, of which 49% were PayTV units.

 

We connected 384 thousand fixed-voice lines in Central and South America. Throughout our operations, we increased the number of PayTV clients by 698 thousand and broadband accesses by 470 thousand. The majority of the new fixed RGUs came from Brazil, our largest fixed line operation.

 

Of the net additions on the fixed-line platform, 61.2% were sold in triple-play bundles, 32.2% were double-play and only 6.6% were single-play.

 

Fixed-Line and Other Accesses (RGUs) as of September 2013

Thousands

 

 

 

 

 

 

Total

Country

Sep'13

Jun'13

Var.%

Sep'12

Var.%

Mexico

22,419

22,426

0.2%

22,783

-1.6%

Brazil

31,876

30,757

3.6%

27,510

15.9%

Colombia

4,619

4,497

2.7%

4,072

13.4%

Ecuador

295

277

6.6%

226

30.3%

Peru

981

931

5.3%

837

17.2%

Argentina, Paraguay and Uruguay

525

486

8.1%

404

29.9%

Chile

1,146

1,155

-0.8%

1,028

11.5%

Central America and Caribbean

6,407

6,315

1.5%

5,999

6.8%

Tolal RGUs

68,268

66,844

2.1%

62,859

8.6%

*Fixed Line, Broadband and Television (Cable & DTH)

 

América Móvil Consolidated Results

 

The purported strength of the U.S. economy in the third quarter—which had led the FED to call for the tapering of its purchases of long term securities—seemed very much at odds with the state of the Mexican economy, that appears to have grown weaker throughout the year on account of a certain shortfall in government expenditures relative to plan; problems in certain sectors, including housing; and an apparent lack of liquidity throughout the economy that is constraining private sector spending.  In South America, notwithstanding the recent drops in commodity prices, economic activity appeared to be recovering.

 

 

4


 
 

 

Our revenues totaled 194.2 billion pesos in the quarter and 582.0 billion pesos through September; they were nearly flat relative to the prior year (+0.7% and 0.9% respectively). At constant exchange rates, third quarter total revenues were up 7.5% from the year-earlier quarter, with the South American block’s revenues growing 8.9%—the fastest pace in 6 quarters—and those of Central America and The Caribbean holding steady at 4.9% year-on-year.  In  Mexico, service revenues decreased 2.1% in the quarter, overturning the 1.0% rise seen in the second quarter. For the most part, the decline seen in Mexico is attributed to the weak state of the economy.

 

Mobile data and PayTV continued to be the more dynamic business lines, with revenues rising 22.4% and 21.7%, respectively, at constant exchange rates, followed by fixed-broadband, whose revenues grew 10.2% year-on-year. Both mobile and fixed-line voice revenues were off by 2.2% and 4.6%, respectively.

 

America Movil's Income Statement (IFRS)

Millions of Mexican pesos

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Service Revenues

174,516

176,075

-0.9%

523,383

528,672

-1.0%

Equipment Revenues

19,705

16,745

17.7%

58,598

48,385

21.1%

Total Revenues

194,221

192,821

0.7%

581,981

577,058

0.9%

 

 

 

 

 

 

 

Cost of Service

58,797

57,770

1.8%

177,208

172,248

2.9%

Cost of Equipment

28,649

26,625

7.6%

85,661

78,967

8.5%

Selling, General & Administrative Expenses

41,035

39,324

4.4%

120,459

117,905

2.2%

Others

2,422

1,913

26.6%

6,475

5,820

11.3%

Total Costs and Expenses

130,903

125,632

4.2%

389,803

374,940

4.0%

 

 

 

 

 

 

 

EBITDA

63,318

67,188

-5.8%

192,178

202,118

-4.9%

% of Total Revenues

32.6%

34.8%

 

33.0%

35.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation & Amortization

25,523

25,423

0.4%

75,168

77,277

-2.7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBIT

37,795

41,765

-9.5%

117,010

124,841

-6.3%

% of Total Revenues

19.5%

21.7%

 

20.1%

21.6%

 

 

 

 

 

 

 

 

Net Interest Expense

6,658

4,976

33.8%

17,518

14,196

23.4%

Other Financial Expenses

1,256

2,845

-55.9%

3,308

10,591

-68.8%

Foreign Exchange Loss

2,917

-9,015

132.4%

9,401

-12,208

177.0%

Comprehensive Financing Cost (Income)

10,831

-1,194

n.m.

30,227

12,579

140.3%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income & Deferred Taxes

9,671

13,416

-27.9%

29,000

36,701

-21.0%

Net Income before Minority Interest and Equity

17,294

29,542

-41.5%

57,782

75,560

-23.5%

Participation in Results of Affiliates

 

 

 

 

 

 

minus

 

 

 

 

 

 

Equity Participation in Results of Affiliates*

-643

1,172

-154.8%

20

1,108

-98.2%

Minority Interest

-267

-264

-1.3%

-354

-529

33.0%

Net Income

16,384

30,451

-46.2%

57,448

76,140

-24.5%

n.m. Not meaningful

 

 

 

 

 

 

*Includes results of KPN

 

 

 

 

 

 

 

 

5


 
 

 

 

Third quarter EBITDA came in at 63.3 billion pesos, bringing to 192.2 billion pesos the year’s total through September.  These figures were down 5.8% and 4.9%, respectively from the year before, with the EBITDA margin at 32.6% down from 34.8% in the third quarter of 2012. At constant exchange rates, EBITDA was down 0.5% from the year-earlier quarter. Depreciation and amortization charges remained flat relative to revenues (13.1%), leading to an operating profit in the third quarter of 37.8 billion pesos.

 

Our comprehensive financing cost stood at 10.8 billion pesos, which includes a foreign exchange loss of 2.9 billion pesos. All in all, we obtained a net profit on 16.4 billion pesos in the quarter and 57.4 billion pesos in the year through September.  It was equivalent to 0.23 pesos per share or 0.35 dollar cents per ADR. Our net profit was affected by our share in the losses of KPN, which ended up lowering our net income by 1.2 billion pesos.

 

Balance Sheet (in accordance with IFRS)

América Móvil Consolidated

Millions of Mexican Pesos

 

Sep '13

Dec '12

Var.%

 

Sep '13

Dec '12

Var.%

 

 

 

 

 

 

 

 

 

 

Current Assets

 

 

 

Current Liabilities

 

 

Cash & Securities

72,226

45,487

58.8%

Short Term Debt**

43,515

13,622

219.5%

Accounts Receivable

126,265

122,986

2.7%

Accounts Payable

190,120

189,081

0.5%

Other Current Assets

15,029

11,961

25.7%

Other Current Liabilities

44,087

50,156

-12.1%

Inventories

36,512

28,698

27.2%

 

277,722

252,859

9.8%

 

250,033

209,131

19.6%

 

 

 

 

 

 

 

 

 

 

 

 

Non Current Assets

 

 

 

 

 

 

 

Plant & Equipment

485,334

500,434

-3.0%

 

 

 

 

Investments in Affiliates

92,688

73,116

26.8%

Non Current Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term Debt

468,890

404,048

16.0%

Deferred Assets

 

 

 

Other Non Current Liabilities

63,505

72,849

-12.8%

Goodwill (Net)

93,496

99,706

-6.2%

 

532,395

476,897

11.6%

Intangible Assets

39,017

45,196

-13.7%

 

 

 

 

Deferred Assets

67,426

57,021

18.2%

Shareholder's Equity

217,876

254,848

-14.5%

 

 

 

 

 

 

 

 

Total Assets

1,027,993

984,604

4.4%

Total Liabilities and Equity

1,027,993

984,604

4.4%

** Includes current portion of Long Term Debt

 

 

Our net debt stood at 440.2 billion pesos at the end of September. It was up 68.0 billion pesos from December to help finance 174 billion pesos in capital outlays and shareholder distributions.  Capital expenditures totaled 78.7 billion pesos, acquisitions 16.5 billion—including our share of the rights issue by KPN—share buybacks 58.3 billion and dividend payments 7.9 billion. We also contributed 12.5 billion pesos to the funding of pension liabilities.

 

Financial Debt of América Móvil*

Millions of U.S. Dollars

 

 

 

Dec-12

Sep-13

Peso denominated debt

6,089

8,036

Bonds and other securities

6,089

5,938

Banks and others

0

2,098

U.S. Dollar - denominated debt

15,721

16,404

Bonds and other securities

15,098

15,848

Banks and others

623

557

Debt denominated in other currencies

10,294

14,939

Bonds and other securities

10,257

14,725

Banks and others

38

214

Total Debt

32,104

39,380

*This chart does not include the effect of forwards and derivatives used to hedge the foreign exchange exposure.

 

6


 
 

 

Mexico

 

Our wireless subscriber base ended September at 72.5 million clients, 3.0% higher than at the beginning of the year, having obtained 499 thousand net subscriber additions in the quarter, 186 thousand of which were postpaid.  On the fixed-line platform, RGUs totaled 22.4 million, 1.1% less than in December. Year-to-date, we have gained 2.1 million wireless clients and 401 thousand fixed-broadband accesses, but have lost 650 thousand fixed lines.

 

Third quarter revenues were slightly down (-0.3%) year–on-year, to 68.2 billion pesos, on account of the weakness of the Mexican economy, as service revenues declined 1.4% from the year-earlier quarter. Mobile revenues were up 0.9% and fixed line revenues down 0.7%, with data revenues increasing and voice revenues falling on both platforms.

 

EBITDA stood at slightly under 30 billion pesos and was down 5.7% from the prior year. In the nine months to September, it totaled 91.2 billion pesos, a 2.0% reduction year-on-year. Our operating profits represented 34.8% of revenues.

 

INCOME STATEMENT (IFRS)

Mexico

 

 

 

 

Millions of MxP

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

68,181

68,397

-0.3%

204,023

201,026

1.5%

Wireless Revenues

44,046

43,661

0.9%

131,972

126,744

4.1%

Service Revenues

36,285

36,801

-1.4%

108,174

107,327

0.8%

Equipment Revenues

7,727

6,795

13.7%

23,544

19,364

21.6%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

26,082

26,269

-0.7%

78,038

78,766

-0.9%

 

 

 

 

 

 

 

EBITDA

29,951

31,751

-5.7%

91,236

93,134

-2.0%

% total revenues

43.9%

46.4%

 

44.7%

46.3%

 

 

 

 

 

 

 

 

EBIT

23,717

25,703

-7.7%

72,473

74,848

-3.2%

%

34.8%

37.6%

 

35.5%

37.2%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

 

Mexico Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

72,464

69,171

4.8%

Postpaid

9,195

8,331

10.4%

Prepaid

63,270

60,840

4.0%

MOU

269

269

0.0%

ARPU (MxP)

167

179

-6.4%

Churn (%)

3.7%

3.6%

0.1

Revenue Generating Units (RGUs)*

22,419

22,783

-1.6%

* Fixed Line and Broadband

 

 

 

 

7


 
 

 

 

Argentina, Paraguay and Uruguay

 

Our combined operations in Argentina, Paraguay and Uruguay finished September with 21.9 million wireless subscribers having added 421 thousand clients in the quarter. On the fixed-line platform, RGUs increased 20.1% relative to December to 525 thousand accesses.

 

Third quarter revenues rose 21.5% from the prior year to 4.5 billion Argentinean pesos. Wireless service revenues rose 13.8%, driving a 13.3% increase in ARPU, as mobile data revenues increased 19.4% year-on-year; they account now for 41.3% of wireless service revenues. On the fixed-line operation, revenues rose 30.6% from the year before; they represent 6.7% of total revenues.

 

Third quarter EBITDA was up 18.9% to 1.4 billion Argentinean pesos. The EBITDA margin was equivalent to 31.2% of revenues.

 

INCOME STATEMENT (IFRS)

Argentina, Paraguay & Uruguay

Millions of ARP

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

4,504

3,707

21.5%

12,659

10,658

18.8%

Wireless Revenues

4,256

3,499

21.7%

11,942

10,066

18.6%

Service Revenues

3,432

3,015

13.8%

9,941

8,793

13.1%

Equipment Revenues

833

484

72.2%

1,996

1,267

57.5%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

299  

229

30.6%

820

642

27.6%

 

 

 

 

 

 

 

EBITDA

1,405

1,181

18.9%

4,129

3,709

11.3%

% total revenues

31.2%

31.9%

 

32.6%

34.8%

 

 

 

 

 

 

 

 

EBIT

1,113

908

22.6%

3,336

2,980

12.0%

%

24.7%

24.5%

 

26.4%

28.0%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Argentina, Uruguay & Paraguay Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

21,949

21,736

1.0%

Postpaid

2,959

2,814

5.2%

Prepaid

18,990

18,923

0.4%

MOU

148

146

0.9%

ARPU (ARP)

53

47

13.3%

Churn (%)

1.9%

2.2%

(0.2)

Revenue Generating Units (RGUs)

525

404

29.9%

* Fixed Line, Broadband and Pay TV

 

 

 

 

 

8


 
 

 

Brazil

 

After adding 1.1 million fixed-lines RGUs in the third quarter, we ended September with 31.9 million RGUs, 11.5% more than at the end of 2012. We also had 67.4 million wireless subscribers, an increase of 3.4% relative to December. Net subscriber additions in the third quarter, 960 thousand, doubled those of the prior year, with postpaid net adds totaling 164 thousand. PayTV and broadband accesses were up 14.4% and 13.1%, respectively, relative to December and the number of fixed-voice lines rose 7.1%. Bundle offers continued to attract customers: 56% of our new RGUs were placed under triple-play packages. In September, we launched the Combo Multi, our first mass market quadruple-play product.

 

Third quarter revenues of 8.4 billion reais increased 10.3% year-on-year, the fastest rate in six quarters. The acceleration of service revenue growth  reflects improvements on both the wireless and the fixed-line platforms. Mobile data revenues continued to outperform rising 25.1%, followed closely by PayTV revenues that were up 22.2%, with fixed-broadband revenues growing 14.0%. Voice revenues declined on both platforms.   

 

EBITDA for the quarter came in at 1.9 billion reais, slightly down (0.7%), from the same period of 2012; it was equivalent to 22.3% of revenues. The pressure in EBITDA is coming from i) an increase of interconnection costs resulting from changes in wireless commercial plans ii) greater costs of leasing wireless sites that are required to expand the reach of our network, and iii) costs associated to the launch of fixed-line services in new cities in which we have had to lease infrastructure.

 

Year-to-date, we have gained 169 thousand clients from mobile number portability. We have made important inroads, especially in the postpaid segment, offering attractive commercial plans, a constant improvement of our networks to enable better data transmission speeds, lower prices and better quality. In the latest evaluations conducted by Anatel, Claro outperformed all of its mobile peers.

 

INCOME STATEMENT (IFRS)

Brazil

Millions of BrL

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

8,368

7,589

10.3%

24,403

22,790

7.1%

Wireless Revenues

3,278

3,095

5.9%

9,636

9,487

1.6%

Service Revenues

2,957

2,904

1.8%

8,832

8,874

-0.5%

Equipment Revenues

320

192

66.4%

797

609

31.0%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

5,391

4,848

11.2%

15,690

14,362

9.2%

 

 

 

 

 

 

 

EBITDA

1,862

1,874

-0.7%

5,699

5,726

-0.5%

% total revenues

22.3%

24.7%

 

23.4%

25.1%

 

 

 

 

 

 

 

 

EBIT

159

416

-61.7%

1,021

1,436

-28.9%

%

1.9%

5.5%

 

4.2%

6.3%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

 

 

Brazil Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

67,432

63,447

6.3%

Postpaid

13,871

12,732

8.9%

Prepaid

53,561

50,715

5.6%

MOU

133

122

9.7%

ARPU (BrL)

15

15

-3.9%

Churn (%)

3.1%

3.4%

(0.3)

Revenue Generating Units (RGUs)*

31,876

27,510

15.9%

* Fixed Line, Broadband and Television

 

9


 
 

 

 

Colombia

 

We added 559 thousand new wireless subscribers in the quarter, 82 thousand of which were postpaid, reaching a total of 28.4 million subscribers. Relative to December, our postpaid base has risen 4.7%. As regards the fixed-line operation, RGU net additions totaled 122 thousand in the quarter, bringing to 424 thousand the figure for the first nine months of the year. RGUs ended September at 4.6 million accesses, 10.1% more than at the start of the year. Over the last 12 months, we gained more than three points of market share in fixed voice and almost two points in the broadband segment.

 

Third quarter revenues of 2.7 trillion Colombian pesos were 8.9% above those of the year-earlier quarter, with wireless service revenues rising 2.3% as wireless voice revenues declined 2.2%, mostly on account of a voluntary free airtime bonus of approximately 66 million minutes given to our clients as compensation for a technical failure in the month of September. On the fixed line platform, revenues increased 16.0% to 537 trillion Colombian pesos, or a fifth of total revenues. Other than in mobile voice, revenue growth was strong across the board: 21.0% in fixed-line voice, 16.8% for data revenues on each of the mobile and fixed-line platforms; and 9.2% in PayTV.

 

EBITDA for the third quarter was 1.2 trillion Colombian pesos, 4.2% higher than that of same period of 2012. The margin came in at 44.4% of revenues, having declined 2 percentage points from the year before on account of increases in the acquisition costs of postpaid clients that are taking up data plans with pricier smartphones. (The average cost per unit sold has risen around 30% in the last 12 months.)

 

INCOME STATEMENT (IFRS)

Colombia

 

 

 

 

 

 

Billions of COP

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

2,713

2,491

8.9%

7,958

7,337

8.5%

Wireless Revenues

2,166

2,017

7.4%

6,378

5,962

7.0%

Service Revenues

1,824

1,783

2.3%

5,453

5,252

3.8%

Equipment Revenues

335

228

46.9%

899

668

34.6%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

537  

463

16.0%

1,548

1,335

16.0%

 

 

 

 

 

 

 

EBITDA

1,204

1,155

4.2%

3,602

3,463

4.0%

% total revenues

44.4%

46.4%

 

45.3%

47.2%

 

 

 

 

 

 

 

 

EBIT

867

807

7.4%

2,607

2,457

6.1%

%

32.0%

32.4%

 

32.8%

33.5%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Colombia Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers ** (thousands)

28,364

29,962

-5.3%

Postpaid

5,601

5,195

7.8%

Prepaid

22,763

24,767

-8.1%

MOU

220

229

-4.3%

ARPU (CoP)

21,576

20,018

7.8%

Churn (%)

3.2%

4.0%

(0.8)

Revenue Generating Units (RGUs)*

4,619

4,072

13.4%

* Fixed Line, Broadband and Television

** 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).

 

10


 
 

 

Chile

 

In the third quarter, we disconnected 335 thousand wireless subscribers that were not generating enough traffic, ending September with 5.9 million clients. Our postpaid base however, was up 12.8% over the year with net additions of 27 thousand. RGUs were 1.1 million at the end of the quarter, 7.1% more than at the beginning of the year.

 

Third quarter revenues of 196.9 billion Chilean pesos were 12.7% higher than in the prior year. Wireless service revenues were up 9.7% with data revenues increasing 25.5%—to 25.6% of service revenues—and voice revenues rising 5.2%. Fixed line revenues—which account for 29.4% of the total—were 13.0% higher than a year before driven by PayTV and broadband.

 

EBITDA for the quarter was 10.8 billion Chilean pesos, equivalent to 5.5% of revenues. The contraction of EBITDA stems from greater acquisition costs of new postpaid subs.

 

INCOME STATEMENT (IFRS)

Chile

 

 

 

 

 

 

Millions of ChP

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

196,913

174,724

12.7%

576,148

516,870

11.5%

Wireless Revenues

141,408

126,387

11.9%

417,254

371,038

12.5%

Service Revenues

115,939

105,644

9.7%

340,702

314,214

8.4%

Equipment Revenues

25,483

20,820

22.4%

76,532

57,285

33.6%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

58,001

51,312

13.0%

166,416

154,406

7.8%

 

 

 

 

 

 

 

EBITDA

10,814

13,769

-21.5%

26,272

42,338

-37.9%

% total revenues

5.5%

7.9%

 

4.6%

8.2%

 

 

 

 

 

 

 

 

EBIT

-35,776

-28,258

-26.6%

-107,947

-73,237

-47.4%

%

-18.2%

-16.2%

 

-18.7%

-14.2%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

 

Chile Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

5,940

5,804

2.3%

Postpaid

1,263

1,120

12.8%

Prepaid

4,677

4,684

-0.2%

MOU

204

217

-6.2%

ARPU (ChP)

6,339

6,105

3.8%

Churn (%)

5.4%

4.5%

0.9

Revenue Generating Units (RGUs)*

1,146

1,028

11.5%

* Fixed Line and Broadband and Television

 

11


 
 

 

Ecuador

 

Net wireless additions for the quarter were 187 thousand—a third of them postpaid—allowing us to close September with 11.9 million subscribers. We also had 295 thousand RGUs in September, 18.9% more than at the beginning of the year.

 

Our third quarter revenues came in at 436 million dollars, 12.3% higher than in the year-earlier quarter. Wireless service revenues were up 11.3% over the year with data revenues rising 36.4%, given the greater adoption of devices with data capabilities. Voice revenue growth showed an improvement after reporting declines in each of the last three quarters. On the fixed-line platform, revenues increased 14.4%. 

 

Third quarter EBITDA was down 3.2% year-on-year to 180 million dollars with a margin of 41.4% as we have been increasingly selling data-capable devices such as smartphones and tablets.

 

In the third quarter, we launched DTH services in Ecuador, it has proven to be a very popular product so far.

 

INCOME STATEMENT (IFRS)

Ecuador

Millions of Dollars

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

436

388

12.3%

1,280

1,153

11.0%

Wireless Revenues

424

377

12.3%

1,244

1,123

10.8%

Service Revenues

362

325

11.3%

1,059

970

9.3%

Equipment Revenues

62

52

18.9%

184

153

20.8%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

15

13

14.4%

42

34

23.9%

 

 

 

 

 

 

 

EBITDA

180

186

-3.2%

569

549

3.6%

% total revenues

41.4%

48.0%

 

44.4%

47.6%

 

 

 

 

 

 

 

 

EBIT

133

145

-8.2%

431

424

1.6%

%

30.6%

37.4%

 

33.7%

36.8%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Ecuador Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

11,887

11,462

3.7%

Postpaid

2,258

1,926

17.2%

Prepaid

9,629

9,536

1.0%

MOU

156

164

-4.8%

ARPU (US$)

10

10

7.4%

Churn (%)

3.0%

2.2%

0.7

Revenue Generating Units (RGUs)*

295

226

30.3%

* Fixed Line, Broadband and Television

 

 

12


 
 

Peru

 

We added 283 thousand new wireless subscribers in the quarter—67% of which were postpaid—to finish September with 11.5 million subscribers. Our subscriber base was down 7.3% as the annual comparison is still affected by recent changes in churn policies; however, our postpaid subscriber base shot-up 22.0% relative to December. Our fixed-RGUs, 981 thousand were 12.5% higher than at the start of the year.

 

Our third quarter revenues of 1.2 billion soles in the quarter exceeded by 11.2% those of the third quarter of 2012. Wireless service revenues rose 10.8% with increases of 27.3% in data and 5.4% in voice. Fixed-line revenues were up 24.9% over the year on the back of voice revenues that rose 34.5%. Fixed-line revenues have increased their share of total revenues to 12.3%.

 

The rapid pace of postpaid growth and the increase in the number of data plans with upscale devices weighed on EBITDA, which at 445 million soles declined 3.9% relative to the prior year. The margin for the period stood at 35.9%.

 

INCOME STATEMENT (IFRS)

Perú

Millones de Soles

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

1,240

1,115

11.2%

3,558

3,172

12.2%

Wireless Revenues

1,086

994

9.2%

3,127

2,816

11.0%

Service Revenues

928

838

10.8%

2,687

2,395

12.2%

Equipment Revenues

154

145

5.9%

422

403

4.8%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

152

122

24.9%

431

357

20.8%

 

 

 

 

 

 

 

EBITDA

445

463

-3.9%

1,372

1,322

3.7%

% total revenues

35.9%

41.5%

 

38.6%

41.7%

 

 

 

 

 

 

 

 

EBIT

308

336

-8.4%

960

962

-0.3%

%

24.8%

30.1%

 

27.0%

30.3%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

 

Peru Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

11,495

12,399

-7.3%

Postpaid

3,275

2,439

34.3%

Prepaid

8,220

9,960

-17.5%

MOU

138

108

28.4%

ARPU (Sol)

27

23

18.6%

Churn (%)

3.9%

3.6%

0.3

Revenue Generating Units (RGUs)*

981

837

17.2%

* Fixed Line, Broadband and Television

 

 

13


 
 

 

Central America and the Caribbean

 

Our operations in Central America and the Caribbean ended September with 22.5 million wireless subscribers—6.7% more than in December—after net additions of 484 thousand in the quarter. We also had 6.4 million fixed-line RGUs, 5.7% more than in December.

   

Our third quarter revenues were almost flat (+1.5% yoy) at 973 million dollars. Wireless service revenues increased 4.4% year-on-year on the back of data revenues that expanded 25.6%. Fixed line revenues—which account for 41% of the total—were down 2.2% as the growth of PayTV and fixed-broadband was not enough to offset the contraction of voice revenues.

 

We generated an EBITDA of 329 million dollars; 19.0% above the third quarter of 2012. The margin for the period climbed 5 percentage points to 33.8%.

 

INCOME STATEMENT (IFRS)

Central America and The Caribbean

Millions of Dollars

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

973

958

1.5%

2,895

2,861

1.2%

Wireless Revenues

572

552

3.7%

1,702

1,639

3.8%

Service Revenues

528

506

4.4%

1,577

1,509

4.5%

Equipment Revenues

44

43

3.2%

125

127

-1.9%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

396

405

-2.2%

1,199

1,228

-2.4%

 

 

 

 

 

 

 

EBITDA

329

276

19.0%

968

823

17.6%

% total revenues

33.8%

28.8%

 

33.5%

28.8%

 

 

 

 

 

 

 

 

EBIT

64

-1

n.m.

187

-33

n.m.

%

6.6%

-0.1%

 

6.5%

-1.1%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Central America and the Caribbean Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

22,530

20,289

11.0%

Postpaid

3,102

2,737

13.4%

Prepaid

19,428

17,552

10.7%

MOU

187

204

-8.6%

ARPU (US$)

8

9

-6.0%

Churn (%)

3.8%

3.5%

0.3

Revenue Generating Units (RGUs)*

6,407

5,999

6.8%

* Fixed Line, Broadband and Television

 

 

 

14


 
 

United States

 

We ended September with 23 million subscribers, 6.5% more than a year ago. TracFone registered 5 thousand net additions in the quarter after disconnections resulting from the revaluation of the conditions of certain commercial plans. 

 

Third quarter revenues of 1.5 billion dollars were 17.2% higher than in the same quarter of 2012 driving ARPU up 10.7%. The rate of revenue growth has normalized: over the last four quarters it had been driven up by the consolidation of Simple Mobile in late June 2012. This time around, the quarter’s revenue growth is completely organic.

 

Data revenues kept on expanding rapidly: 50% year-on-year. They have come to represent 42.5% of TracFone’s service revenues. Voice revenues are now growing roughly in line with subscriber growth.

 

EBITDA rose 8.2% to 205 million dollars, representing an EBITDA margin of 13.7% of revenues.

 

INCOME STATEMENT (IFRS)

United States

Millions of Dollars

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan -

Jan -

Var.%

 

Sep 13

Sep 12

Total Revenues

1,494

1,275

17.2%

4,499

3,444

30.7%

Service Revenues

1,366

1152

18.6%

3,984

3,107

28.3%

Equipment Revenues

128

123

3.9%

515

337

52.7%

 

 

 

 

 

 

 

EBITDA

205

190

8.2%

429

469

-8.6%

% total revenues

13.7%

14.9%

 

9.5%

13.6%

 

 

 

 

 

 

 

 

EBIT

196

180

8.8%

401

444

-9.6%

%

13.1%

14.1%

 

8.9%

12.9%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

United States Operating Data (IFRS)

 

 

 

 

 

3Q13

3Q12

Var.%

Wireless Subscribers (thousands)

23,043

21,639

6.5%

MOU

520

496

4.9%

ARPU (US$)

20

18

10.7%

Churn (%)

4.1%

3.9%

0.2

 

15


 
 

Glossary of Terms

 

ARPU – Average Revenue per User. The ratio of service revenues in a given period to the average number of wireless subscribers in the same period. It is presented on a monthly basis.

 

ARPM- Average Revenue per Minute. The ratio of service revenues to airtime traffic.

 

Capex – Capital Expenditure. Accrued capital expenditures related to the expansion of the telecommunications infrastructure.

 

Churn – Disconnection Rate. The ratio of wireless subscribers disconnected during a given period to the number of wireless subscribers at the beginning of that period. 

 

EBIT – Earnings Before Interest and Taxes, also known as Operating Profit.

 

EBIT margin – The ratio of EBIT to total operating revenue.

 

EBITDA – Earnings Before Interest, Taxes, Depreciation, and Amortization.

 

EBITDA margin – The ratio of EBITDA to total operating revenue.

 

EDGE – Enhanced Data rates for GSM Evolution. A technology that gives GSM the capacity to handle data services for the third generation mobile telephony.

 

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.

 

Equity subscribers – Subscribers weighted by the economic interest held in each company.

 

GSM – Global System for Mobile communications. It is the world’s leading and fastest growing mobile standard.

 

GPRS – General Packet Radio Service. Enables GSM networks to offer higher capacity, Internet-based-content and packet-based data services.  It is a second generation technology.

 

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.

 

Market share – A company’s subscriber base divided by the total number of subscribers in that country.

 

MOU – Minutes of Use per subscriber. The ratio of wireless traffic in a given period to the average number of wireless subscribers in that same period.  It is presented on a monthly basis.

 

Net subscriber additions – The difference in the subscriber base from one period to another. It is the different between gross additions and disconnections.

 

Net debt – Total short and long term debt minus cash and marketable securities.

 

Net debt / EBITDA – The ratio of total short and long term debt minus cash and securities to trailing 12-month income before interest, taxes, depreciation and amortization.

 

Prepaid – Subscriber that may purchase airtime to recharge a cellular phone. The client does not hold a contract with the company for voice and data services.

 

Postpaid – Subscriber that has a contract for the use of airtime. The client has no need of activating airtime, it is done so immediately.

 

Push-to-talk – Enables compatible mobile phones to function like two-way radios.

 

SMS – Short Message Service.

 

SAC – Subscriber Acquisition Cost. The sum of handset subsidies, marketing expenses and commissions to distributors for handset activation. Handset subsidy is calculated as the difference between equipment cost and equipment revenues. 

 

Wireless penetration – The ratio of total wireless subscribers in any given country divided by the total population in that country.

 

16


 
 

Exchange Rates Local Currency Units per USD

 

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan - Sep 13

Jan - Sep 12

Var.%

 

Mexico

 

 

 

 

 

 

EoP

13.01

12.92

0.7%

13.01

12.92

0.7%

Average

12.92

13.19

-2.0%

12.68

13.24

-4.2%

 

 

 

 

 

 

 

Brazil

 

 

 

 

 

 

EoP

2.23

2.03

9.8%

2.23

2.03

9.8%

Average

2.29

2.03

12.9%

2.12

1.92

10.4%

 

 

 

 

 

 

 

Argentina

 

 

 

 

 

 

EoP

5.79

4.70

23.3%

5.79

4.70

23.3%

Average

5.59

4.61

21.1%

5.28

4.47

18.2%

 

 

 

 

 

 

 

Chile

 

 

 

 

 

 

EoP

504

474

6.4%

504

474

6.4%

Average

507

483

5.0%

488

489

-0.3%

 

 

 

 

 

 

 

Colombia

 

 

 

 

 

 

EoP

1,915

1,798

6.5%

1,915

1,798

6.5%

Average

1,908

1,798

6.1%

1,854

1,795

3.3%

 

 

 

 

 

 

 

Guatemala

 

 

 

 

 

 

EoP

7.93

7.96

-0.3%

7.93

7.96

-0.3%

Average

7.88

7.89

-0.1%

7.84

7.82

0.3%

 

 

 

 

 

 

 

Honduras

 

 

 

 

 

 

EoP

20.69

19.87

4.1%

20.69

19.87

4.1%

Average

20.62

19.75

4.4%

20.43

19.52

4.7%

 

 

 

 

 

 

 

Nicaragua

 

 

 

 

 

 

EoP

25.02

23.83

5.0%

25.02

23.83

5.0%

Average

24.87

23.69

5.0%

24.57

23.40

5.0%

 

 

 

 

 

 

 

Costa Rica

 

 

 

 

 

 

EoP

506

503

0.5%

506

503

0.5%

Average

506

505

0.2%

505

510

-0.8%

 

 

 

 

 

 

 

Peru

 

 

 

 

 

 

EoP

2.78

2.60

7.1%

2.78

2.60

7.1%

Average

2.79

2.62

6.4%

2.68

2.66

0.7%

 

 

 

 

 

 

 

Paraguay

 

 

 

 

 

 

EoP

4,439

4,462

-0.5%

4,439

4,462

-0.5%

Average

4,444

4,421

0.5%

4,245

4,422

-4.0%

 

 

 

 

 

 

 

Uruguay

 

 

 

 

 

 

EoP

22.06

20.99

5.1%

22.06

20.99

5.1%

Average

21.69

21.44

1.2%

20.15

20.50

-1.7%

 

 

 

 

 

 

 

Dominican Republic

 

 

 

 

 

 

EoP

42.54

39.35

8.1%

42.54

39.35

8.1%

Average

42.43

39.22

8.2%

41.57

38.94

6.8%

 

 

 

17


 
 

Exchange Rates Local Currency units per Mexican Peso

 

 

 

 

 

 

 

 

3Q13

3Q12

Var.%

Jan - Sep 13

Jan - Sep 12

Var.%

 

USA

 

 

 

 

 

 

EoP

0.08

0.08

-0.7%

0.08

0.08

-0.7%

Average

0.08

0.08

2.1%

0.08

0.08

4.4%

 

 

 

 

 

 

 

Brazil

 

 

 

 

 

 

EoP

0.17

0.16

9.0%

0.17

0.16

9.0%

Average

0.18

0.15

15.2%

0.17

0.15

15.2%

 

 

 

 

 

 

 

Argentina

 

 

 

 

 

 

EoP

0.45

0.36

22.4%

0.45

0.36

22.4%

Average

0.43

0.35

23.6%

0.42

0.34

23.4%

 

 

 

 

 

 

 

Chile

 

 

 

 

 

 

EoP

38.7

36.7

5.6%

38.7

36.7

5.6%

Average

39.2

36.6

7.2%

38.5

37.0

4.2%

 

 

 

 

 

 

 

Colombia

 

 

 

 

 

 

EoP

147.1

139.2

5.7%

147.1

139.2

5.7%

Average

147.7

136.3

8.3%

146.2

135.6

7.8%

 

 

 

 

 

 

 

Guatemala

 

 

 

 

 

 

EoP

0.61

0.62

-1.0%

0.61

0.62

-1.0%

Average

0.61

0.60

2.0%

0.62

0.59

4.7%

 

 

 

 

 

 

 

Honduras

 

 

 

 

 

 

EoP

1.59

1.54

3.4%

1.59

1.54

3.4%

Average

1.60

1.50

6.6%

1.61

1.47

9.3%

 

 

 

 

 

 

 

Nicaragua

 

 

 

 

 

 

EoP

1.92

1.84

4.3%

1.92

1.84

4.3%

Average

1.93

1.80

7.1%

1.94

1.77

9.7%

 

 

 

 

 

 

 

Costa Rica

 

 

 

 

 

 

EoP

38.9

39.0

-0.3%

38.9

39.0

-0.3%

Average

39.1

38.3

2.2%

39.9

38.5

3.5%

 

 

 

 

 

 

 

Peru

 

 

 

 

 

 

EoP

0.21

0.20

6.3%

0.21

0.20

6.3%

Average

0.22

0.20

8.6%

0.21

0.20

5.2%

 

 

 

 

 

 

 

Paraguay

 

 

 

 

 

 

EoP

341.1

345.4

-1.2%

341.1

345.4

-1.2%

Average

344.0

335.3

2.6%

334.8

334.0

0.2%

 

 

 

 

 

 

 

Uruguay

 

 

 

 

 

 

EoP

1.70

1.62

4.3%

1.70

1.62

4.3%

Average

1.68

1.63

3.3%

1.59

1.55

2.7%

 

 

 

 

 

 

 

Dominican

 

 

 

 

 

 

EoP

3.27

3.05

7.3%

3.27

3.05

7.3%

Average

3.28

2.97

10.4%

3.28

2.94

11.5%

 

 

 

For further information please visit our website at:

 

http://www.americamovil.com

 

Legal Disclaimer

 

América Móvil, S.A.B. de C.V. (the “Company”) quarterly reports and all other written materials may from time to time contain forward-looking statements that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements, and may contain words like “believe”, “anticipate”, “expect”, “envisages”, “will likely result”, or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this report. In no event, neither the Company nor any of its subsidiaries, affilia­tes, directors, officers, agents or employees shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this document or for any consequential, special or similar damages.

18


 

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 25, 2013
 
 
AMÉRICA MÓVIL, S.A.B. DE C.V.
By: 
/S/  Carlos José García Moreno Elizondo

  Name:
Title:
Carlos José García Moreno Elizondo
Attorney-in-fact