amxpr2q14_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 July, 2014

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 SECOND QUARTER OF 2014

FINANCIAL AND OPERATING REPORT

 

Mexico City, July 21, 2014 - 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 second quarter of 2014.

 

•        América Móvil continues to move ahead with its investment program geared towards convergence throughout the region, seeking to substantially increase the speed and capacity of our fixed and mobile networks. For this purpose we are deploying fiber optic networks across the board as well as cable to the home. On the mobile front we are rolling out 4G networks in various countries, growing our 3G footprint, and broadening the reach of fiber connections available to our cell sites. The submarine cable we built to link the South American block through Fortaleza in Brazil to the Caribbean, and Yucatan to Florida will begin operations this quarter.  

 

•        América Móvil had 338.7 million accesses at the end of June, 3.0% more than a year before. This figure includes 31.6 million landlines, 20.0 million broadband accesses, 20.3 million PayTV units, and 266.9 million wireless subscribers. The latter considers in most of our markets all clients that have remained active for at least 30 days originating or receiving calls.

 

•        Our wireless subscriber base rose 1.8% from the year before while our fixed-RGUs, which reached 71.8 million at the end of June rose 7.5%. We added 1.2 million RGUs in the quarter of which 608 thousand were PayTV units and 364 thousand broadband accesses.

 

•        Second quarter revenues of 202.6 billion pesos were up 4.0% year-on-year. At constant exchange rates, service revenues were up 5.8% driven by both mobile data revenues and PayTV revenues.

 

•        EBITDA of 66.6 billion pesos was up 2.4% in peso terms and 4.7% at constant exchange rates. The EBITDA margin for the quarter came in at 32.9%.

 

•        We obtained an operating profit of 39.2 billion pesos. It was down 3.3% year-on-year due to an increase of depreciation and amortization charges linked to higher levels of investment.

 

•        Our comprehensive financing cost was down 34.3% to 13.7 billion pesos as we obtained a foreign exchange profit of 3.1 billion in the quarter. Net income expanded 32.7% year-on-year to 18.8 billion pesos. It was equivalent to 27 peso cents per share or 42 dollar cents per ADR. 

 

•        Since December we obtained 5.7 billion pesos in net proceeds from the sale of part of our stake in KPN and the purchase of ownership interests in TKA and Start Wireless Group. This, together with our cash flow, allowed us to fund capital expenditures of 45.6 billion pesos, to reduce our net debt by 30.9 billion pesos to 412.3 billion pesos, and to buy back 15.9 billion pesos of our own stock. 

 

 

América Móvil Fundamentals (IFRS)

 

 

 

 

 

2Q14

2Q13

Var. %

EPS (Mex$)(1)

0.27

0.19

40.3%

Earning per ADR (US$)(2)

0.42

0.31

34.4%

Net Income (millions of Mex$)

18,833

14,193

32.7%

Average Shares Outstanding (billion) (3)

69.45

73.44

-5.4%

Average ADRs Outstanding (millions) (4)

465

601

-22.5%

(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 May 15th, we launched a public tender offer to acquire all outstanding shares of Telekom Austria (TKA) not held by OIAG. The offer expired on July 10th and AMX obtained almost 104 million shares, equivalent to 23.47% of the share capital of Telekom Austria, at a cost of 743.4 million euros. AMX now holds a stake of approximately 50.80% in the Austrian operator. Before the expiration of the offer we had met all the regulatory conditions in Austria and 6 other countries in Central Europe where TKA operates.

 

On June 27th, our Board of Directors authorized Inmobiliaria Carso and Control Empresarial de Capitales, both of which are AMX’ shareholders, to acquire from AT&T 5,739,341,928 Series “AA” shares representing 23.81% of AMX’s voting stock or 8.27% of our capital stock.

 

On July 8th, we were authorized by our Board of Directors to implement various measures to reduce our national market share in the Mexican telecommunications market to under 50% in order to cease to be a “preponderant economic agent”. It is desired that the assets be sold to a strong carrier willing to invest and compete in the Mexican market. The sale of Telcel’s and Telmex’ assets is contingent upon AMX receiving the necessary assurances from the Mexican regulator to the effect that it would no longer be subject to specific asymmetric regulation and that it would be allowed to provide convergent services. It is also contingent upon the assets being sold at market conditions. The Board also decided that all cellular sites, including towers and related passive infrastructure, are to be separated from Telcel for their corresponding operation and commercialization to all interested parties.

 

América Móvil’s Subsidiaries as of June 2014

 

 

 

 

 

Country

Brand

Business

Equity Participation

Consolidation Method

Mexico

Telcel

wireless

100.0%

Global Consolidation Method

 

Telmex

wireline

97.8%

Global Consolidation Method

 

Sección Amarilla (1)

other

97.8%

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

95.8%

Global Consolidation Method

 

Net

Cable

92.5%

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

97.8%

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

22.6%

Equity Method

Austria

Telekom Austria

wireless/wireline

27.2%

Equity Method

(1) Equity Participation of Telmex Internacional of which América Móvil owns 97.77%

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

 


 
 

 

Total Accesses

 

At the end of June we had 338.7 million accesses, 3.0% more than a year before. This figure includes 266.9 million wireless subscribers, 31.6 million landlines, 20.0 million broadband accesses and 20.3 million PayTV units. On the fixed-line division, RGUs were up 7.5% over the prior year with PayTV rising 13.7%, whereas on the wireless platform our subscriber base increased 1.8%. Our largest operation, Brazil, reached 103.3 million accesses in June reflecting an increase of 6.2% compared with the year before.

 

 

Wireless Subscribers

 

Our wireless subscriber base finished June with 266.9 million clients, 1.8% more than a year before. In the postpaid segment, we reached 43.9 million subscribers by the end of the quarter, 7.8% more than in the year-earlier quarter after net gains of 524 thousand subscribers, including 207 thousand in Brazil and 121 thousand in Mexico.

 

Mexico represents around 27% of our wireless subscriber base, followed by Brazil at 26%, with Colombia accounting for almost 11% of our clients and the U.S. 9.6%. The Argentinean and the Central America-Caribbean blocks represent 8.2% and 7.6%, respectively, while Ecuador and Peru contribute 4.5% each.

 

Wireless Subscribers as of June 2014

Thousands

 

 

 

 

 

  

Total(1)

Country

Jun'14

Mar'14

Var.%

Jun'13

Var.%

Mexico

71,282

73,343

-2.8%

71,965

-0.9%

Brazil

68,776

68,749

0.0%

66,472

3.5%

Chile

5,781

5,870

-1.5%

6,275

-7.9%

Argentina, Paraguay and Uruguay

21,903

21,936

-0.2%

21,529

1.7%

Colombia

29,109

29,210

-0.3%

27,805

4.7%

Ecuador

12,226

12,145

0.7%

11,700

4.5%

Peru

12,086

12,030

0.5%

11,212

7.8%

Central America* and The Caribbean

20,185

23,409

-13.8%

16,140

-10.8%

USA

25,519

25,511

0.0%

23,038

10.8%

Total Wireless Lines

266,866

272,204

-2.0%

262,043

1.8%

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 71.8 million at the end of June having increased by 1.2 million new accesses in the quarter. Half of the new RGUs are PayTV units—our fastest-growing division—while 364 thousand were broadband accesses. In our international markets we added 309 thousand landlines.

 

Following a 12.2% increase in our Brazilian base to 34.5 million units at the end of June, Brazil concentrates 48% of our fixed-RGUs, with PayTV and broadband accesses rising 14%, and fixed-voice accesses growing 8.2%. It is important to highlight that 68.1% of our new accesses in Brazil were bundled under triple-play packages.

 

In Mexico our fixed RGUs represent 31% of the total. We continued to lose voice lines, but managed to increase our broadband base by 3.7% year-on-year.

 

Our operations in Central America-Caribbean accounted for 9% of our fixed clients and those in Colombia for 7%. The former increased 6.9% from the prior year while the latter increased 12.3%.

 

Fixed-Line and Other Accesses (RGUs) as of June 2014

 

 

 

 

 

Thousands

 

 

 

 

 

Total

Country

Jun'14

Mar'14

Var.%

Jun'13

Var.%

Mexico

22,257

22,311

-0.2%

22,426

-0.8%

Brazil

34,503

33,597

2.7%

30,757

12.2%

Colombia

5,050

4,932

2.4%

4,497

12.3%

Ecuador

333

322

3.2%

277

20.3%

Peru

1,148

1,091

5.2%

931

23.2%

Argentina, Uruguay and Paraguay

583

568

2.6%

486

20.0%

Chile

1,222

1,200

1.8%

1,155

5.8%

Central America and Caribbean

6,749

6,633

1.7%

6,315

6.9%

Tolal RGUs

71,844

70,655

1.7%

66,844

7.5%

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

 

América Móvil Consolidated Results

 

The onset of a tough winter in the U.S. and its significant impact on U.S. economic activity led the way for a second quarter marked by greater financial stability with interest rates coming off in the main financial markets. That paved the way for a recovery of emerging market assets from the losses suffered at the turn of the year and through most of January. Economic trends throughout Latin America remained mostly unchanged from the first three months of the year.

 

Second quarter revenues totaled 202.6 billion pesos, 4.0% more than a year before, with service revenues expanding 3.6%. At constant exchange rates, service revenues were up 5.8% with both mobile data revenues and PayTV revenues expanding at a rate of approximately 18.8%. Fixed-voice revenues continued to reduce their rate of decline—to -1.7% in the second quarter from -3.2% in the first one—but mobile voice revenues deteriorated as they went from an annual growth rate of -0.8% in the first quarter to -3.3% in the second one. This deterioration had mostly to do with the implementation of new regulatory measures in Mexico, the introduction of new competitive plans in Colombia, and the reduction of termination rates in Brazil and Chile.

 


 
 

 

EBITDA came in at 66.6 billion pesos in the second quarter. It was up 2.4% year-on-year in nominal peso terms and 4.7% at constant exchange rates. We obtained an operating profit of 39.2 billion pesos that was 3.3% down from the year-earlier quarter on account of depreciation and amortization charges increasing 12.0% in the period. The increase in depreciation charges reflects our increased levels of investment practically across the board.

 

Our comprehensive financing cost was down 34.3% from the year before to 13.7 billion pesos even though net interest expenses were up 16.3% because of higher levels of net debt. But this quarter we obtained a foreign exchange profit of 3.1 billion pesos as compared to a loss in the year-earlier quarter. Other financial expenses totaled 9.9 billion pesos, including a 3.7 billion pesos charge associated with the sale of a part of our KPN stake.

 

Our net income reached 18.8 billion pesos, equivalent to 27 peso cents per share or 42 dollar cents per ADR. It was up 32.7% year-on-year.

 

América Móvil's Income Statement (IFRS)

Millions of Mexican pesos

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Service Revenues

180,664

174,344

3.6%

356,544

348,867

2.2%

Equipment Revenues

21,971

20,456

7.4%

41,530

38,892

6.8%

Total Revenues

202,635

194,800

4.0%

398,074

387,760

2.7%

 

 

 

 

 

 

 

Cost of Service

61,214

58,159

5.3%

120,498

118,411

1.8%

Cost of Equipment

31,095

29,519

5.3%

60,343

57,011

5.8%

Selling, General & Administrative Expenses

41,690

39,963

4.3%

81,659

79,424

2.8%

Others

2,005

2,118

-5.3%

4,054

4,053

0.0%

Total Costs and Expenses

136,004

129,759

4.8%

266,555

258,900

3.0%

 

 

 

 

 

 

 

EBITDA

66,631

65,042

2.4%

131,519

128,860

2.1%

% of Total Revenues

32.9%

33.4%

 

33.0%

33.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation & Amortization

27,420

24,483

12.0%

53,587

49,645

7.9%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBIT

39,211

40,558

-3.3%

77,932

79,215

-1.6%

% of Total Revenues

19.4%

20.8%

 

19.6%

20.4%

 

 

 

 

 

 

 

 

Net Interest Expense

6,810

5,856

16.3%

12,471

10,861

14.8%

Other Financial Expenses

9,943

-8,904

211.7%

12,717

2,052

n.m.

Foreign Exchange Loss

-3,082

23,844

-112.9%

-3,173

6,484

-148.9%

Comprehensive Financing Cost (Income)

13,670

20,796

-34.3%

22,015

19,397

13.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income & Deferred Taxes

6,825

6,489

5.2%

23,192

19,330

20.0%

Net Income before Minority Interest and Equity

18,715

13,273

41.0%

32,724

40,488

-19.2%

Participation in Results of Affiliates

 

 

 

 

 

 

minus

 

 

 

 

 

 

Equity Participation in Results of Affiliates*

210

971

-78.4%

182

663

-72.6%

Minority Interest

-92

-52

-78.1%

-186

-87

-113.9%

Net Income

18,833

14,193

32.7%

32,720

41,064

-20.3%

n.m. Not meaningful

 

 

 

 

 

 

*Includes results of KPN

 

 

 

 

 

 

 


 

 

 

 

Balance Sheet (in accordance with IFRS)

América Móvil Consolidated

Millions of Mexican Pesos

 

Jun '14

Dec '13

Var.%

 

Jun '14

Dec '13

Var.%

 

 

 

 

 

 

 

 

 

 

Current Assets

 

 

 

Current Liabilities

 

 

Cash & Securities

94,127

48,164

95.4%

Short Term Debt**

51,466

25,841

99.2%

Accounts Receivable

130,285

138,342

-5.8%

Accounts Payable

213,345

196,463

8.6%

Other Current Assets

19,208

13,474

42.6%

Other Current Liabilities

52,294

51,651

1.2%

Inventories

30,742

36,719

-16.3%

 

317,105

273,955

15.8%

 

274,362

236,698

15.9%

 

 

 

 

 

 

 

 

 

 

 

 

Non Current Assets

 

 

 

 

 

 

 

Plant & Equipment

500,827

501,107

-0.1%

 

 

 

 

Investments in Affiliates

81,250

88,887

-8.6%

Non Current Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term Debt

454,984

464,478

-2.0%

Deferred Assets

 

 

 

Other Non Current Liabilities

80,505

76,858

4.7%

Goodwill (Net)

95,429

92,486

3.2%

 

535,489

541,336

-1.1%

Intangible Assets

38,039

38,220

-0.5%

 

 

 

 

Deferred Assets

76,847

68,194

12.7%

Shareholder's Equity

214,162

210,301

1.8%

 

 

 

 

 

 

 

 

Total Assets

1,066,755

1,025,592

4.0%

Total Liabilities and Equity

1,066,755

1,025,592

4.0%

** Includes current portion of Long Term Debt

 

We obtained 5.7 billion pesos in net proceeds from the sale of part of our stake in KPN and the purchase of ownership interests in TKA and Start Wireless among others. This, together with our cash flow, allowed us to fund capital expenditures in the amount of 45.6 billion pesos, buy back 15.9 billion pesos worth of our own stock and reduce our net debt by 30.9 billion pesos (in flow terms) since last December to 412.3 billion pesos. Our net debt to EBITDA ratio at the end of June (last twelve months) was 1.53 times.

 

Financial Debt of América Móvil*

Millions of U.S. Dollars

 

 

 

Dec-13

Jun-14

Peso denominated debt

5,914

7,213

Bonds and other securities

5,914

7,190

Banks and others

0

24

U.S. Dollar - denominated debt

16,381

15,623

Bonds and other securities

15,848

15,053

Banks and others

534

570

Debt denominated in other currencies

15,201

16,025

Bonds and other securities

14,942

15,721

Banks and others

259

304

Total Debt

37,496

38,861

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

 

 


 
 

 

Mexico

 

We finished June with 93.5 million accesses in Mexico. On the fixed-line platform, Telmex provided broadband access to 9.1 million households, 3.7% more than a year before. On the wireless segment we had 71.3 million subscribers. Wireless networks have become instrumental to bridge the digital gap and to boost productivity, knowledge, health, business and education. Clients can benefit from more sophisticated communication solutions and can access information anywhere through their handheld devices. 

 

Second quarter revenues of 69.7 billion pesos were up 0.2% from the prior year with service revenues increasing 0.9% as data-revenue growth on both the mobile and fixed platform slightly outweighed the decline of voice revenues on both platforms.  Mobile-voice revenues were down, -8.7% year-on-year, on account of the new regulatory measures implemented in the second quarter, with Telcel canceling from April 6th national roaming charges and reducing the termination rate charged to its competitors by 34%.

 

Although still declining, fixed-voice revenues continued to recover, with the rate of decline diminishing from -8.5% in the second quarter of 2013 to -3.4% in the last quarter. Data revenues continued to accelerate on both platforms, reaching a rate of growth of 15.3% in the mobile one and of 7.4% in the fixed one.

 

At 30.4 billion pesos our EBITDA was 1.8% lower than in the year earlier quarter. The reduction in EBITDA is for the most part due to the enactment of the new regulatory measures.

 

INCOME STATEMENT (IFRS)

Mexico

 

 

 

 

Millions of MxP

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

69,714

69,569

0.2%

137,542

135,841

1.3%

Wireless Revenues

45,301

45,587

-0.6%

89,221

87,926

1.5%

Service Revenues

36,709

36,573

0.4%

73,473

71,888

2.2%

Equipment Revenues

8,432

8,877

-5.0%

15,711

15,817

-0.7%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

26,382

26,054

1.3%

52,511

51,957

1.1%

 

 

 

 

 

 

 

EBITDA

30,403

30,955

-1.8%

60,494

61,284

-1.3%

% total revenues

43.6%

44.5%

 

44.0%

45.1%

 

 

 

 

 

 

 

 

EBIT

24,170

24,666

-2.0%

47,995

48,755

-1.6%

%

34.7%

35.5%

 

34.9%

35.9%

 

*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.

 

Mexico Operating Data (IFRS)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

71,282

71,965

-0.9%

Postpaid

9,667

9,009

7.3%

Prepaid

61,615

62,956

-2.1%

MOU

270

277

-2.6%

ARPU (MxP)

169

170

-1.1%

Churn (%)

4.8%

3.6%

1.2

Revenue Generating Units (RGUs)*

22,257

22,426

-0.8%

* Fixed Line and Broadband.

 

 

 

 

 

 

 


 
 

 

Argentina, Paraguay and Uruguay

 

Our combined operations in Argentina, Uruguay and Paraguay ended June with 21.9 million wireless subscribers, 1.7% more than a year before. On the fixed line front we had 583 thousand RGUs, 20.0% above the prior year.

 

Second quarter revenues of 5.9 billion Argentinean pesos were 41.3% higher than in 2013. Equipment revenues for the period climbed 128.4% and wireless service revenues 23.2%. Mobile data revenues increased 38.7% over the year and now represent 45.7% of service revenues. On the fixed-line front, revenues for the quarter of 412 million Argentinean pesos were 54.2% higher than those obtained a year ago, driven by the growth of our PayTV business in Paraguay.

 

EBITDA was up 38.8% year-on-year to 1.9 billion Argentinean pesos. The EBITDA margin came in at 32.6% of revenues, slightly below that of the prior year.

 

INCOME STATEMENT (IFRS)

Argentina, Paraguay & Uruguay

Millions of ARP

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

5,927

4,196

41.3%

10,970

8,155

34.5%

Wireless Revenues

5,548

3,957

40.2%

10,271

7,686

33.6%

Service Revenues

4,058

3,295

23.2%

7,850

6,509

20.6%

Equipment Revenues

1,485

650

128.4%

2,416

1,163

107.7%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

412  

267

54.2%

773

521

48.6%

 

 

 

 

 

 

 

EBITDA

1,935

1,394

38.8%

3,535

2,724

29.8%

% total revenues

32.6%

33.2%

 

32.2%

33.4%

 

 

 

 

 

 

 

 

EBIT

1,611

1,114

44.6%

2,901

2,187

32.7%

%

27.2%

26.5%

 

26.4%

26.8%

 

*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.

 

Argentina, Uruguay & Paraguay Operating Data (IFRS)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

21,903

21,529

1.7%

Postpaid

2,885

2,952

-2.3%

Prepaid

19,018

18,576

2.4%

MOU

136

140

-3.1%

ARPU (ARP)

62

51

21.2%

Churn (%)

2.2%

2.0%

0.2

Revenue Generating Units (RGUs)

583

486

20.0%

* Fixed Line, Broadband and Pay TV.

 

 


 
 

 

Brazil

 

We had 103.3 million accesses in Brazil at the end of June including 34.5 million fixed RGUs, 12.2% more than a year before, after adding 500 thousand PayTV units, 217 thousand broadband accesses and 189 thousand landlines in the quarter. Our wireless subscriber base totaled 68.8 million having risen 3.5% year-on-year. We gained 207 thousand postpaid clients in the second quarter, which contributed to an 8.1% year-on-year increase in our contract base. 

 

Second quarter revenues were up 8.5% to 8.8 billion reais driven by mobile data, PayTV and broadband revenues that increased 23.8%, 18.6% and 14.4% respectively. Wire-line voice revenues exhibited a 1.2% increase after two years of posting revenue declines. Wireless voice revenues declined sharply primarily as a result of the 25% cut in mobile termination rates that became effective in February and, to a lesser extent, to the fact that we had fewer business days in June due to the World Cup.

 

At 2.3 billion reais, EBITDA soared 18.9% over the prior year. The EBITDA margin climbed 2.2 percentage points from the year-earlier quarter to 25.5% of revenues. We have experienced steady improvements in EBITDA coming from reductions in maintenance costs and leased lines as we have come to finish many of the investment projects we embarked on in the last three years and that had an impact on operating expenses.

 

We have the broadest 4G-LTE coverage in Brazil. In April we opened up our networks to prepaid clients that may now benefit from better and faster value-added services.

 

INCOME STATEMENT (IFRS)

Brazil

 

 

 

 

 

Millions of BrL

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

8,840

8,145

8.5%

17,403

16,034

8.5%

Wireless Revenues

3,407

3,210

6.1%

6,736

6,358

5.9%

Service Revenues

3,000

2,939

2.1%

6,048

5,875

2.9%

Equipment Revenues

398

267

49.3%

678

478

41.9%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

5,807

5,219

11.3%

11,447

10,299

11.1%

 

 

 

 

 

 

 

EBITDA

2,258

1,899

18.9%

4,497

3,838

17.2%

% total revenues

25.5%

23.3%

 

25.8%

23.9%

 

 

 

 

 

 

 

 

EBIT

460

417

10.3%

961

862

11.4%

%

5.2%

5.1%

 

5.5%

5.4%

 

*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)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

68,776

66,472

3.5%

Postpaid

14,812

13,707

8.1%

Prepaid

53,964

52,765

2.3%

MOU

117

119

-1.8%

ARPU (BrL)

15

15

-1.4%

Churn (%)

3.4%

3.5%

(0.1)

Revenue Generating Units (RGUs)*

34,503

30,757

12.2%

* Fixed Line, Broadband and Television.

 

 

 


 
 

 

Colombia

 

At 29.1 million at the end of June, our wireless subscriber base was up 4.7% from the prior year with our postpaid base expanding at a somewhat faster rate, 5.7%. Fixed RGUs increased 12.3% in the period to 5.1 million RGUs, as broadband and voice-accesses climbed 19%.

 

Revenues of 2.8 trillion Colombian pesos were 4.8% higher than in the year-earlier quarter, with equipment revenues up 41.0% and service revenues declining 2.7%. The contraction of wireless service revenues is linked to the introduction of more competitive plans and to the implementation of certain regulatory measures. On the fixed platform, revenues of 582 billion Colombian pesos were up 13.4% relative to the year before with fixed-data revenues rising 15.4%, which reflects a 17.5% increase of revenues obtained from corporate data solutions.

 

EBITDA for the quarter, 1.2 trillion Colombian pesos, was down 12.2% from the prior year. The annual comparison is affected by the fact that in the second quarter of 2013 we had booked extraordinary revenues associated with a tax adjustment. Correcting for it the EBITDA decline would have been 6.9%. 

 

INCOME STATEMENT (IFRS)

Colombia

 

 

 

 

 

 

Billions of COP

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

2,806

2,677

4.8%

5,578

5,245

6.4%

Wireless Revenues

2,225

2,153

3.3%

4,432

4,214

5.2%

Service Revenues

1,780

1,829

-2.7%

3,597

3,631

-0.9%

Equipment Revenues

438

310

41.0%

819

564

45.2%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

582

513

13.4%

1,143

1,010

13.2%

 

 

 

 

 

 

 

EBITDA

1,152

1,311

-12.2%

2,264

2,399

-5.6%

% total revenues

41.0%

49.0%

 

40.6%

45.7%

 

 

 

 

 

 

 

 

EBIT

807

982

-17.8%

1,558

1,740

-10.4%

%

28.8%

36.7%

 

27.9%

33.2%

 

*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.

 

Colombia Operating Data (IFRS)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers** (thousands)

29,109

27,805

4.7%

Postpaid

5,833

5,519

5.7%

Prepaid

23,276

22,286

4.4%

MOU

214

218

-1.8%

ARPU (CoP)

20,359

22,010

-7.5%

Churn (%)

4.0%

3.6%

0.5

Revenue Generating Units (RGUs)*

5,050

4,497

12.3%

* 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).

 

 


 
 

 

Chile

 

We finished June with 5.8 million wireless clients, with our postpaid subscriber base increasing almost 10% annually. On the fixed-line platform we had 1.2 million fixed RGUs, 5.8% more than a year ago.

 

Revenues declined 9.3% from the year-earlier quarter to 176.2 billion Chilean pesos dragged by a contraction of 24.3% in wireless voice revenues. The reduction is linked to a 75% cut in mobile termination rates. Data revenues were up 23.6% over the year and now represent 34.6% of service revenues. Fixed-line revenues—which account for one third of the total— were up 7.9% driven by broadband and PayTV revenue-growth of 15.5% and 12.8%, respectively.

 

EBITDA shot up 57.0% to 13.6 billion Chilean pesos reflecting among other things a greater reduction in termination costs.

 

INCOME STATEMENT (IFRS)

Chile

 

 

 

 

 

 

Millions of ChP

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

176,238

194,377

-9.3%

358,472

379,235

-5.5%

Wireless Revenues

117,712

140,848

-16.4%

242,723

275,847

-12.0%

Service Revenues

99,653

113,981

-12.6%

204,537

224,764

-9.0%

Equipment Revenues

18,122

26,874

-32.6%

38,424

51,049

-24.7%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

60,457

56,008

7.9%

119,836

108,415

10.5%

 

 

 

 

 

 

 

EBITDA

13,632

8,685

57.0%

24,789

15,459

60.4%

% total revenues

7.7%

4.5%

 

6.9%

4.1%

 

 

 

 

 

 

 

 

EBIT

-32,408

-36,026

10.0%

-69,067

-72,170

4.3%

%

-18.4%

-18.5%

 

-19.3%

-19.0%

 

*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.

 

Chile Operating Data (IFRS)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

5,781

6,275

-7.9%

Postpaid

1,358

1,236

9.9%

Prepaid

4,423

5,039

-12.2%

MOU

176

215

-18.2%

ARPU (ChP)

6,180

5,967

3.6%

Churn (%)

5.3%

4.3%

1.0

Revenue Generating Units (RGUs)*

1,222

1,155

5.8%

* Fixed Line, Broadband and Television.

 

 


 
 

 

Ecuador

 

We added 80 thousand wireless subscribers in the second quarter—including 47 thousand postpaid clients—to finish June with 12.2 million wireless subscribers, 4.5% more than a year before. Our postpaid subscriber base was up 9.4% year-on-year. Fixed RGUs, 333 thousand, exceeded by 20.3% those of the same period of the precedent year.

 

Our revenues, 434 million dollars in the quarter, were 0.4% higher than a year before. Wireless service revenues increased by 3.2% annually as data revenues—which already represent 40% of service revenues—expanded by 13.0%. Fixed-line revenues grew 10.3% annually to 16 million dollars.

 

EBITDA for the quarter was 193 million dollars, equivalent to 44.4% of revenues.

 

INCOME STATEMENT (IFRS)

Ecuador

 

 

 

 

 

 

Millions of Dollars

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

434

432

0.4%

859

844

1.8%

Wireless Revenues

421

420

0.2%

833

820

1.6%

Service Revenues

366

355

3.2%

731

698

4.8%

Equipment Revenues

55

65

-16.1%

102

122

-16.6%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

16

14

10.3%

31

28

12.5%

 

 

 

 

 

 

 

EBITDA

193

194

-0.7%

391

388

0.6%

% total revenues

44.4%

44.9%

 

45.5%

46.0%

 

 

 

 

 

 

 

 

EBIT

145

149

-2.7%

293

298

-1.7%

%

33.3%

34.4%

 

34.1%

35.3%

 

*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.

 

Ecuador Operating Data (IFRS)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

12,226

11,700

4.5%

Postpaid

2,404

2,197

9.4%

Prepaid

9,822

9,503

3.4%

MOU

149

157

-4.9%

ARPU (US$)

10

10

-0.3%

Churn (%)

2.6%

3.6%

(1.1)

Revenue Generating Units (RGUs)*

333

277

20.3%

* Fixed Line, Broadband and Television

 

 

 


 
 

 

Peru

 

After net additions of 55 thousand subscribers in the second quarter we ended June with 12.1 million wireless clients in Peru. Our wireless subscriber base was up 7.8% annually while that of the postpaid segment presented an increase of 18.9%. On the fixed-line platform RGUs expanded 23.2% year-on-year to 1.1 million, with broadband accesses soaring by 45.0%.

 

Second quarter revenues came in at 1.3 billion soles and were 9.5% higher than in the same period of 2013. Wireless service revenues increased 7.2% on the back of data revenue growth of 21.4%. Data—which now represents 31.8% of service revenues—was key for bringing about an increase of 8.3% in ARPU, even in spite of a 10.5% reduction in the average price per minute of voice. Fixed-line revenues, albeit small, increased 21.1% over the year to 173 million soles.

 

Our EBITDA, 492 million soles in the quarter, was 10.3% higher than in 2013. The EBITDA margin came in at 38.1% of revenues, slightly above last year’s.

 

In May we launched 4G-LTE services in the city of Lima in the 1900MHz band. We will continue with our efforts to find the means to launch our new services in the rest of the country since we are working with limited spectrum resources.

 

INCOME STATEMENT (IFRS)

Peru

 

 

 

 

 

 

Millions of Soles

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

1,290

1,178

9.5%

2,555

2,319

10.2%

Wireless Revenues

1,117

1,035

7.9%

2,216

2,038

8.7%

Service Revenues

948

884

7.2%

1,892

1,760

7.5%

Equipment Revenues

163

146

11.4%

312

268

16.4%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

173  

143

21.1%

340

281

20.9%

 

 

 

 

 

 

 

EBITDA

492

446

10.3%

973

927

5.0%

% total revenues

38.1%

37.9%

 

38.1%

40.0%

 

 

 

 

 

 

 

 

EBIT

342

313

9.4%

675

652

3.5%

%

26.5%

26.6%

 

26.4%

28.1%

 

*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.

 

Peru Operating Data (IFRS)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

12,086

11,212

7.8%

Postpaid

3,669

3,085

18.9%

Prepaid

8,417

8,127

3.6%

MOU

135

118

14.8%

ARPU (Sol)

26

24

8.3%

Churn (%)

4.5%

9.2%

(4.7)

Revenue Generating Units (RGUs)*

1148

931

23.2%

* Fixed Line, Broadband and Television

 

 

 


 
 

 

Central America and the Caribbean

 

We finished June with 20.2 million wireless clients and 6.7 million RGUs, 6.9% more than in 2013.

 

Revenues of 983 million dollars were up 1.6% year-on-year. At constant exchange rates service revenues were up 3.6% from the year-earlier quarter. PayTV led the way with 21.7% revenue growth followed by mobile data at 11.7% and fixed-data revenues at 5.7%. Mobile voice revenues posted a 1.1% increase. 

 

At 334 million dollars second quarter EBITDA was 6.9% over the year in dollar terms and 7.6% at constant exchange rates. The EBITDA margin stood at 34.0% of revenues, 1.7 percentage points above the precedent year.

 

In July 8th we launched our 4G-LTE services in the Dominican Republic, covering 35 cities and towns or 60% of the population.

 

INCOME STATEMENT (IFRS)

Central America and The Caribbean

Millions of Dollars

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

983

968

1.6%

1,954

1,922

1.6%

Wireless Revenues

587

574

2.3%

1,168

1,130

3.4%

Service Revenues

543

531

2.2%

1,082

1,049

3.1%

Equipment Revenues

44

43

2.9%

87

81

7.6%

 

 

 

 

 

 

 

Fixed Line and Other Revenues

398

406

-2.0%

789

803

-1.7%

 

 

 

 

 

 

 

EBITDA

334

312

6.9%

652

640

2.0%

% total revenues

34.0%

32.3%

 

33.4%

33.3%

 

 

 

 

 

 

 

 

EBIT

85

53

61.2%

150

122

22.9%

%

8.7%

5.5%

 

7.7%

6.4%

 

*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)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

20,185

22,046

-8.4%

Postpaid

3,276

3,038

7.8%

Prepaid

16,909

19,008

-11.0%

MOU

188

193

-2.6%

ARPU (US$)

8

8

-1.6%

Churn (%)

9.6%

3.8%

5.8

Revenue Generating Units (RGUs)*

6,749

6,315

6.9%

* Fixed Line, Broadband and Television.

 

 


 
 

 

United States

 

With 25.5 million wireless clients at the end of June, our subscriber base was up 10.8% on a year-on-year basis, partly on account of acquisitions made throughout the period.

 

Revenues in the second quarter of 1.7 billion dollars expanded 14.8% year-on-year with service revenues climbing 18.1%. ARPU was 7.2% higher than the same period of 2013 boosted by data revenue growth of 23.5%. The StraightTalk all-you-can-eat plans sold through WalMart continue to be the main driver of revenue growth.

 

EBITDA of 208 million dollars was 33.7% higher than in the second quarter of last year; it was equivalent to 12.2% of revenues, a 1.8 percentage-points margin improvement in twelve months.

 

Income Statement (IFRS)

United States

Millions of Dollars

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan -

Jan -

Var.%

 

Jun 14

Jun 13

Total Revenues

1,711

1,491

14.8%

3,370

3,005

12.1%

Service Revenues

1,576

1334

18.1%

3,041

2,618

16.2%

Equipment Revenues

135

157

-13.7%

329

387

-15.1%

 

 

 

 

 

 

 

EBITDA

208

156

33.7%

426

224

90.5%

% total revenues

12.2%

10.4%

 

12.6%

7.4%

 

 

 

 

 

 

 

 

EBIT

199

146

36.2%

409

205

99.2%

%

11.6%

9.8%

 

12.1%

6.8%

 

 

 

United States Operating Data (IFRS)

 

 

 

 

 

2Q14

2Q13

Var.%

Wireless Subscribers (thousands)

25,519

23,038

10.8%

MOU

547

532

2.8%

ARPU (US$)

21

19

7.2%

Churn (%)

3.8%

4.1%

(0.2)

 

 

 


 
 

 

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.

 

 

 


 
 

 

Exchange Rates Local Currency Units per USD

 

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan - Jun 14

Jan - Jun 13

Var.%

 

Mexico

 

 

 

 

 

 

EoP

13.03

13.19

-1.2%

13.03

13.19

-1.2%

Average

13.01

12.46

4.4%

13.12

12.56

4.5%

 

 

 

 

 

 

 

Brazil

 

 

 

 

 

 

EoP

2.20

2.22

-0.6%

2.20

2.22

-0.6%

Average

2.23

2.07

7.7%

2.30

2.03

12.9%

 

 

 

 

 

 

 

Argentina

 

 

 

 

 

 

EoP

8.13

5.39

50.9%

8.13

5.39

50.9%

Average

8.05

5.24

53.7%

7.84

5.13

52.8%

 

 

 

 

 

 

 

Chile

 

 

 

 

 

 

EoP

553

504

9.7%

553

504

9.7%

Average

554

485

14.3%

553

479

15.5%

 

 

 

 

 

 

 

Colombia

 

 

 

 

 

 

EoP

1,881

1,923

-2.2%

1,881

1,923

-2.2%

Average

1,914

1,862

2.8%

1,960

1,827

7.3%

 

 

 

 

 

 

 

Guatemala

 

 

 

 

 

 

EoP

7.78

7.83

-0.7%

7.78

7.83

-0.7%

Average

7.76

7.80

-0.5%

7.77

7.82

-0.6%

 

 

 

 

 

 

 

Honduras

 

 

 

 

 

 

EoP

21.12

20.56

2.7%

21.12

20.56

2.7%

Average

20.98

20.44

2.7%

20.90

20.33

2.8%

 

 

 

 

 

 

 

Nicaragua

 

 

 

 

 

 

EoP

25.95

24.71

5.0%

25.95

24.71

5.0%

Average

25.79

24.57

5.0%

25.64

24.42

5.0%

 

 

 

 

 

 

 

Costa Rica

 

 

 

 

 

 

EoP

549

505

8.7%

549

505

8.7%

Average

558

505

10.5%

545

505

7.9%

 

 

 

 

 

 

 

Peru

 

 

 

 

 

 

EoP

2.80

2.78

0.5%

2.80

2.78

0.5%

Average

2.79

2.66

4.8%

2.80

2.62

6.9%

 

 

 

 

 

 

 

Paraguay

 

 

 

 

 

 

EoP

4,388

4,477

-2.0%

4,388

4,477

-2.0%

Average

4,418

4,216

4.8%

4,472

4,145

7.9%

 

 

 

 

 

 

 

Uruguay

 

 

 

 

 

 

EoP

22.93

20.57

11.5%

22.93

20.57

11.5%

Average

22.94

19.62

16.9%

22.57

19.38

16.4%

 

 

 

 

 

 

 

Dominican Republic

 

 

 

 

 

 

EoP

43.54

41.96

3.8%

43.54

41.96

3.8%

Average

43.35

41.34

4.9%

43.26

41.14

5.2%

 

 


 
 

 

Exchange Rates Local Currency units per Mexican peso

 

 

 

 

 

 

 

 

2Q14

2Q13

Var.%

Jan - Jun 14

Jan - Jun 13

Var.%

 

USA

 

 

 

 

 

 

EoP

0.08

0.08

1.2%

0.08

0.08

1.2%

Average

0.08

0.08

-4.2%

0.08

0.08

-4.3%

 

 

 

 

 

 

 

Brazil

 

 

 

 

 

 

EoP

0.17

0.17

0.6%

0.17

0.17

0.6%

Average

0.17

0.17

3.1%

0.18

0.16

8.1%

 

 

 

 

 

 

 

Argentina

 

 

 

 

 

 

EoP

0.62

0.41

52.8%

0.62

0.41

52.8%

Average

0.62

0.42

47.2%

0.60

0.41

46.2%

 

 

 

 

 

 

 

Chile

 

 

 

 

 

 

EoP

42.4

38.2

11.0%

42.4

38.2

11.0%

Average

42.6

38.9

9.5%

42.1

38.1

10.5%

 

 

 

 

 

 

 

Colombia

 

 

 

 

 

 

EoP

144.3

145.8

-1.0%

144.3

145.8

-1.0%

Average

147.1

149.5

-1.6%

149.3

145.4

2.7%

 

 

 

 

 

 

 

Guatemala

 

 

 

 

 

 

EoP

0.60

0.59

0.5%

0.60

0.59

0.5%

Average

0.60

0.63

-4.7%

0.59

0.62

-4.9%

 

 

 

 

 

 

 

Honduras

 

 

 

 

 

 

EoP

1.62

1.56

4.0%

1.62

1.56

4.0%

Average

1.61

1.64

-1.7%

1.59

1.62

-1.6%

 

 

 

 

 

 

 

Nicaragua

 

 

 

 

 

 

EoP

1.99

1.87

6.3%

1.99

1.87

6.3%

Average

1.98

1.97

0.6%

1.95

1.94

0.5%

 

 

 

 

 

 

 

Costa Rica

 

 

 

 

 

 

EoP

42.10

38.28

10.0%

42.10

38.28

10.0%

Average

42.87

40.50

5.8%

41.57

40.24

3.3%

 

 

 

 

 

 

 

Peru

 

 

 

 

 

 

EoP

0.21

0.21

1.7%

0.21

0.21

1.7%

Average

0.21

0.21

0.4%

0.21

0.21

2.3%

 

 

 

 

 

 

 

Paraguay

 

 

 

 

 

 

EoP

336.7

339.5

-0.8%

336.7

339.5

-0.8%

Average

339.7

338.4

0.4%

340.8

330.1

3.3%

 

 

 

 

 

 

 

Uruguay

 

 

 

 

 

 

EoP

1.76

1.56

12.8%

1.76

1.56

12.8%

Average

1.76

1.58

12.0%

1.72

1.54

11.4%

 

 

 

 

 

 

 

Dominican

 

 

 

 

 

 

EoP

3.34

3.18

5.0%

3.34

3.18

5.0%

Average

3.33

3.32

0.4%

3.30

3.28

0.7%

 

 

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.

 

 

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: July 22, 2014
 
 
AMÉRICA MÓVIL, S.A.B. DE C.V.
By: 
/S/  Carlos José García Moreno Elizondo

  Name:
Title:
Carlos José García Moreno Elizondo
Chief Financial Officer