Latin American operator group America Movil reported reduced profit and revenue for the fourth quarter of 2012 as the depreciation of various currencies against the Mexican peso took their toll.
The group’s net profit for the period was MXN15 billion, down 8.2 per cent year-on-year, while revenue was down 1.1 per cent at MXN198 billion.
The depreciation of the US dollar and Brazilian real had a strong impact on revenue, according to the Carlos Slim-owned company.
Wireless helped offset fixed losses during the period, with mobile data one of the major drivers of revenue, contributing one-third of wireless revenue and 18 per cent of total revenue. However, mobile voice revenue was down 1.7 per cent.
Despite a 10.8 per cent increase in connections, fixed voice revenue declined 7.2 per cent, consistent with the trend seen in the past few quarters.
America Movil added 5.6 million mobile subscribers during the period, of which 1.4 million were postpaid customers. This took total mobile subscribers to 261.6 million, up 8.2 per cent year-on-year.
Brazil and Mexico contributed the majority of new subscribers with 1.8 million and 1.2 million net additions respectively. The US and Colombia also saw a healthy increase in subscribers, with net additions in Chile and the Caribbean more than doubling.
America Movil’s net debt rose to MXN372.2 billion from MXN332.1 billion a year earlier as the group invested MXN84.9 billion in various acquisitions, including stakes in European operators KPN and Telekom Austria.
During the period, the company launched its Global Peso programme, aimed at raising MXN100 billion over five years, to raise the share of pesos in its overall funding.
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