Annual Reports

 
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  • 6-K (Jul 24, 2014)
  • 6-K (Jul 15, 2014)
  • 6-K (Jul 9, 2014)
  • 6-K (Jun 30, 2014)
  • 6-K (Jun 27, 2014)
  • 6-K (Jun 25, 2014)
AMERICA MOVIL SAB DE CV 6-K 2009

Documents found in this filing:

  1. 6-K
  2. 6-K
Provided by MZ Technologies

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, 2009

Commission file number for securities registered
pursuant to Section 12 (b) of the Act: 0-32245


Commission file number for securities registered
pursuant to Section 12 (g) of the Act: 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 Alberto 366, Colonia Anahuac
11320 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 2009
FINANCIAL AND OPERATING REPORT

Mexico City, July 21, 2009 - 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 2009

  • In the second quarter of 2009 América Móvil added 3.7 million subscribers bringing the total for the semester to 7.6 million. Our subscriber base reached 190.3 million. We also had 3.8 million landlines in Central America and the Caribbean at the end of the quarter, for a total of 194.1 million lines in the Americas.

  • Our Brazilian operations gained 899 thousand subscribers in the quarter, followed by Tracfone with 730 thousand, Mexico with 548 thousand and Argentina with 367 thousand. Tracfone and Ecuador, together with Chile, Paraguay, El Salvador and the Caribbean, all recorded higher subscriber gains as compared to last year. Wireless penetration is estimated to have reached 89% in our region of operations (excluding the U.S.) at the end of June.

  • Second quarter revenues were up 11.2% year-on-year to 94.0 billion pesos. Service revenues rose 15.9% annually supported by strong data revenue growth. Revenues for the first semester added up to 187.9 billion pesos they were up 13.2% year-on-year.

  • EBITDA totaled 39.3 billion pesos, having risen 13.4% on an annual basis. Our EBITDA margin was up nearly one point from a year before, to 41.8%.

  • Operating profits reached 28.0 billion pesos in the second quarter taking to 54.9 billion the figure for the first half of 2009. They were up 13.8% over the previous year. Depreciation and amortization charges were flat relative to revenues, at 12%.

  • We generated a net financial income of 2.4 billion pesos in the quarter that helped us obtained a net profit of 22.5 billion pesos, 27.5% more than a year before. It represented 69 peso cents per share and 1.03 dollars per ADR. Trough June our net profits totaled 38.9 billion pesos, they exceeded the previous year’s by 23.6%.

  • Our net debt came down by 25.9 billion pesos in June relative to December, to 95.5 billion pesos. Our cash flow also helped us fund capital expenditures of 18.6 billion pesos and share buybacks of 10.4 billion pesos.

América Móvil Fundamentals 

Mexican Pesos             
             
  2Q09  2Q08  Var. %  Jan - Jun '09  Jan - Jun '08  Var. % 
             
EPS (Mex$)*  0.69  0.51  34.2%  1.18  0.91  30.1% 
Earning per ADR (US$)**  1.03  0.99  4.1%  1.70  1.72  -0.9% 
Net Income (millions of Mex$ ) 22,507  17,659  27.5%  38,858  31,436  23.6% 
EBITDA (millions of Mex$) 39,338  34,686  13.4%  77,660  68,629  13.2% 
EBIT (millions of Mex$) 28,002  24,606  13.8%  54,901  48,372  13.5% 
Shares Outstanding (billion) 32.85  34.59  -5.0%  32.97  34.69  -5.0% 
ADRs Outstanding (millions) 616  716  -14.0%  616  716  -14.0% 
             
* Net Income / Total Shares outstanding            ** 20 shares per ADR 

Relevant Events

América Móvil remains financially strong. We have kept our leverage down at 0.65 times net debt to EBITDA and the average life of our debt is 9.5 years. We have maintained adequate liquidity and a prudent foreign exchange exposure.

The industry has been experiencing a deceleration of subscriber growth; consequently our subscriber acquisition costs have fallen in most countries.

We seek to offer more and better services to our clients. For this purpose we have continued to make heavy investments that will keep us at the forefront of technological change and will allow us to offer our subscribers world-class services and innovative data communication solutions with state-of-the-art technologies.

Our market share in most of our operations—such as Mexico and Colombia—is higher in prepaid than in postpaid since we have greater coverage and cater to all clients, including those in rural areas. As of March 31st, our share of the postpaid market in Mexico was only 47% and we are working to improve it.

We have continued lowering prices and today our average price per minute of voice in Latin America is the lowest in the OECD block with the exception of that of the United States (Merrill Lynch Wireless Matrix 2Q09), which is primarily a postpaid market.

On April 20th at our annual Shareholders’ Meeting a dividend payment of 30 Mexican cents per share was approved. Such payment is to be made in one installment on July 24th. This represents a 15.4% increase in the dividend per share relative to the one made in 2008. Our shareholders also authorized to increase in $20,000,000,000 (twenty billion Mexican pesos) the outstanding amount of our repurchase program.


América Móvil's Subsidiaries & Affiliates as of June 2009 

           
        Equity   
     Country  Company Business  Participation Consolidation Method 
           
Subsidiaries         
Mexico  Telcel  wireless  100.0%  Global Consolidation Method 
Argentina  Claro  wireless  100.0%  Global Consolidation Method 
Brazil  Claro  wireless  100.0%  Global Consolidation Method 
Chile  Claro  wireless  100.0%  Global Consolidation Method 
Colombia  Comcel  wireless  99.4%  Global Consolidation Method 
Dominicana  Claro  wireless, wireline  100.0%  Global Consolidation Method 
Ecuador  Conecel  wireless  100.0%  Global Consolidation Method 
El Salvador  Claro  wireless, wireline  95.8%  Global Consolidation Method 
Guatemala  Claro  wireless, wireline  99.2%  Global Consolidation Method 
Honduras  Claro  wireless, wireline  100.0%  Global Consolidation Method 
Jamaica  Claro  wireless  100.0%  Global Consolidation Method 
Nicaragua  Claro  wireless, wireline  99.3%  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  100.0%  Global Consolidation Method 
USA  Tracfone  wireless  98.2%  Global Consolidation Method 
Affiliate         
Mexico  Televista  other  45.0%  Equity Method 
           

Subscribers

América Móvil added 3.7 million subscribers in the second quarter of 2009 bringing the total for the first semester to 7.6 million. We finished the period with 190.3 million wireless clients, 15.1% more than a year before, and 3.8 million land-lines, for a total of 194.1 million lines.

Tracfone, our subsidiary in the U.S., exhibited very good growth in spite of the harsh economic conditions experienced in the country, as the company’s net subscriber additions tripled relative to those of a year before. Our operations in Ecuador, Chile, Paraguay, El Salvador and the Caribbean also recorded higher subscriber gains compared to the previous year.

Brazil came in first among our operations in terms of net adds with 899 thousand in the quarter, followed by Tracfone, which at 730 thousand set a record for a second quarter. Mexico added 548 thousand and Argentina 367 thousand subscribers in the period. Ecuador and Peru gained 229 thousand and 217 thousand, respectively. Colombia, on the other hand, added 149 thousand subscribers.

At the end of June, our subscriber base comprised 58.1 million subscribers in Mexico, 40.5 million in Brazil, 27.1 million in Colombia and 16.2 million in Argentina. Brazil grew the fastest amongst these operations at 22.3% year-on-year. Colombia and Argentina expanded at a similar pace (approximately 12%) whereas Mexico was just behind them with a 10% annual increase. The Dominican Republic exhibited the fastest rate of growth: 47.9% year-on-year.

Our South American operations have shown great dynamism; today 55% of our subscribers are located in that region.


Subscribers as of June 2009 

Thousands           
           
  Total(1)
           
Country  Jun'09  Mar'09  Var.%  Jun'08  Var.% 
           
Mexico  58,081  57,533  1.0%  52,852  9.9% 
Brazil  40,486  39,587  2.3%  33,113  22.3% 
Chile  3,185  3,080  3.4%  2,736  16.4% 
Argentina, Paraguay and Uruguay  17,446  17,066  2.2%  15,704  11.1% 
Colombia and Panama  27,133  26,953  0.7%  24,195  12.1% 
Ecuador  8,842  8,613  2.7%  7,391  19.6% 
Peru  7,704  7,487  2.9%  6,392  20.5% 
Central America  9,312  9,213  1.1%  8,875  4.9% 
Caribbean  5,633  5,296  6.4%  3,926  43.5% 
USA  12,489  11,759  6.2%  10,108  23.6% 
           
Total Wireless  190,311  186,586  2.0%  165,292  15.1% 
           
Central America  2,250  2,251  0.0%  2,179  3.2% 
Caribbean  1,568  1,590  -1.4%  1,710  -8.3% 
           
Total Fixed  3,817  3,841  -0.6%  3,889  -1.9% 
           
Total Lines  194,128  190,427  1.9%  169,182  14.7% 
           
(1) Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated. Total wireless historical data does not include recent acquisitions.

América Móvil Consolidated Results

Our second quarter revenues were up 11.2% year-on-year to 94.0 billion pesos. They were driven by service revenues that increased 15.9% annually on the back of strong data- revenue growth in most of our operations. Equipment revenues were down 17.3% from a year before as a result of slower subscriber growth and lower handset prices.

EBITDA totaled 39.3 billion pesos, having risen 13.4% on an annual basis. Our EBITDA margin was up nearly one point from a year before, to 41.8%, helped by our robust top line, our control of costs and the deceleration of subscriber growth and its corresponding impact on subscriber acquisition costs.

With 13.8% growth, operating profits increased slightly more rapidly than EBITDA to reach 28.0 billion pesos. Depreciation and amortization charges were flat relative to revenues, at 12%.

We generated a net financial income of 2.4 billion pesos in the quarter as foreign exchange gains of 4.8 billion pesos stemming mostly from the appreciation of the Mexican peso in the quarter vs. the U.S. dollar more than doubled our overall financial expenses.


America Movil's Income Statement 

Millions of MxP             
             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Service Revenues  84,051  72,528  15.9%  168,298  143,629  17.2% 
Equipment Revenues  9,965  12,049  -17.3%  19,553  22,277  -12.2% 
             
Total Revenues  94,016  84,577  11.2%  187,851  165,906  13.2% 
 
Cost of Service  19,823  16,860  17.6%  40,460  33,593  20.4% 
Cost of Equipment  17,167  18,241  -5.9%  34,641  34,825  -0.5% 
Selling, General & Administrative Expenses  17,688  14,790  19.6%  35,090  28,859  21.6% 
             
Total Costs and Expenses  54,678  49,891  9.6%  110,191  97,277  13.3% 
 
EBITDA  39,338  34,686  13.4%  77,660  68,629  13.2% 
% of Total Revenues  41.8%  41.0%    41.3%  41.4%   
 
Depreciation & Amortization  11,336  10,081  12.5%  22,759  20,257  12.4% 
 
EBIT  28,002  24,606  13.8%  54,901  48,372  13.5% 
% of Total Revenues  29.8%  29.1%    29.2%  29.2%   
             
 
Net Interest Expense  1,476  1,481  -0.3%  3,135  3,350  -6.4% 
Other Financial Expenses  939  2,043  -54.0%  246  3,778  -93.5% 
Foreign Exchange Loss  -4,790  -3,758  -27.5%  -2,707  -4,115  34.2% 
             
Comprehensive Financing Cost (Income) -2,375  -235  n.m.  675  3,012  -77.6% 
 
Other Income and Expenses  973  1,038  -6.2%  1,793  1,440  24.6% 
Income & Deferred Taxes  6,928  6,122  13.2%  13,648  12,442  9.7% 
             
Net Income before Minority Interest and Equity  22,476  17,681  27.1%  38,785  31,478  23.2% 
Participation in Results of Affiliates             
minus             
Equity Participation in Results of Affiliates  58  12  367.1%  118  29  311.1% 
Minority Interest  -27  -34  21.8%  -46  -71  35.6% 
             
Net Income  22,507  17,659  27.5%  38,858  31,436  23.6% 
             
n.m. Not meaningful             

Balance Sheet (in accordance with Mexican GAAP)* 

América Móvil Consolidated                     
Millions of Mexican Pesos                       
                       
 
  Jun '09  Dec '08 Var.% Jun '08 Var%    Jun '09  Dec '08 Var.% Jun '08 Var% 
 
 
Current Assets            Current Liabilities           
Cash & Securities  19,659  22,092  -11.0%  8,327  136.1%  Short Term Debt**  12,687  26,731  -52.5%  23,318  -45.6% 
Accounts Receivable  47,195  55,896  -15.6%  42,197  11.8%  Accounts Payable  92,142  90,867  1.4%  81,388  13.2% 
Other Current Assets  7,542  3,693  104.2%  6,289  19.9%  Other Current Liabilities  25,768  30,197  -14.7%  24,191  6.5% 
           
Inventories  21,557  31,805  -32.2%  25,249  -14.6%    130,597  147,796  -11.6%  128,897  1.3% 
     
  95,954  113,486  -15.4%  82,063  -100%             
 
Long-Term Assets                       
Plant & Equipment  216,600  209,897  3.2%  165,735  30.7%             
Investments in Affiliates  897  790  13.7%  613  46.4%  Long-Term Liabilities           
            Long Term Debt  102,456  116,755  -12.2%  69,939  46.5% 
Deferred Assets            Other Liabilities  30,470  25,980  17.3%  21,521  41.6% 
           
Goodwill (Net) 44,664  44,696  -0.1%  43,615  2.4%    132,926  142,735  -6.9%  91,460  45.3% 
Brands, Patents & Licenses  48,047  48,110  -0.1%  49,389  -2.7%             
Deferred Assets  17,526  18,477  -5.1%  15,484  13.2%  Shareholder's Equity  160,166  144,925  10.5%  136,542  17.3% 
 
                       
Total Assets  423,688  435,455  -2.7%  356,899  18.7%  Total Liabilities and Equity  423,688  435,455  -2.7%  356,899  18.7% 
                       
* This presentation conforms with that of América Móvil's audited financial statements
** Includes current portion of Long Term Debt

Altogether, we obtained a net profit of 22.5 billion pesos in the quarter, which exceeded by 27.5% that of a year before. It represented 69 peso cents per share and 1.03 dollars per ADR.


Through June our revenues totaled 187.9 billion pesos and our EBITDA 77.7 billion pesos. Both were 13.2% higher than those registered in the first half of 2008. The EBITDA margin for the period, 41.3%, was virtually identical to the one seen a year earlier. Net profits were up 23.6% in the period, to 38.9 billion pesos.

Our net debt stood at 95.5 billion pesos at the end of June, 25.9 billion below its December level. It is equivalent to 0.65 times EBITDA (last twelve months). In the first half our cash flow also allowed us to cover capital expenditures in the amount of 18.6 billion pesos and fund share buy-backs totaling 10.4 billion pesos.

Financial Debt of América Móvil* 

Millions of U.S. Dollars     
     
  Jun-09  Dec-08 
     
Peso Denominated Debt  2,467  2,793 
Bonds and other securities  2,126  2,460 
Banks and others  341  332 
U.S. Dollar - denominated debt  4,345  6,339 
Bonds and other securities  3,236  3,731 
Banks and others  1,109  2,607 
Debt denominated in other currencies  1,910  1,467 
Bonds and other securities  616  441 
Banks and others  1,294  1,026 
     
Total Debt  8,721  10,599 
Short term debt and current portion of long-term debt  961  1,974 
Long-term debt  7,760  8,624 
     
* This table does not include the effect of forwards and derivatives used to hedge the foreign exchange exposure

Mexico

We added 548 thousand subscribers in Mexico during the second quarter and at the end of June had 58.1 million subscribers in the country, almost 10% more than in the year-earlier quarter. Nearly half of our net additions were post-paid subscribers. We have been working in improving our postpaid market share, which as of the end of March was only 47%.

Led by data revenues—which jumped 45% year-on-year buoyed by 3G data services—our second quarter revenues totaled 34.9 billion pesos, with service revenues expanding 7.4% to reach nearly 30 billion pesos. Our average price per minute of voice kept on falling, coming down 16.4% to 5 U.S. dollar cents equivalent, the lowest among the OECD countries along with that of the US (Merrill Lynch Wireless Matrix 2Q09). The strong surge in data revenues and the 8.2% annual increase in MOUs explained the firmness of our Mexican ARPUs, which stood at 172 pesos in the quarter.

Our second quarter EBITDA rose 9.3% year-on-year to 19.8 billion pesos, with the margin climbing to 56.9% of revenues from 53.6% a year before propped by the deceleration of subscriber growth and its impact on subscriber acquisition costs, strict cost control policies and the expansion of data revenues.


Through June Telcel’s revenues totaled 68.4 billion pesos and its EBITDA 38.5 billion. They were up 3.6% and 10.1% respectively from the same period of 2008. The margin for the first half of the year came in at 56.2%, up from 52.9% a year earlier.

INCOME STATEMENT 

Mexico
Millions of MxP

             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  34,857  33,876  2.9%  68,426  66,058  3.6% 
             
EBITDA  19,832  18,152  9.3%  38,463  34,923  10.1% 
% total revenues  56.9%  53.6%    56.2%  52.9%   
             
EBIT  17,557  16,061  9.3%  33,927  30,772  10.3% 
%  50.4%  47.4%    49.6%  46.6%   
             

Mexico Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 58,081  52,852  9.9% 
       Postpaid  4,601  3,826  20.3% 
       Prepaid  53,479  49,026  9.1% 
MOU  196  181  8.2% 
ARPU (MxP) 172  178  -3.1% 
Churn (%) 2.9%  3.3%  (0.4)
       

Argentina, Paraguay and Uruguay

Our operations in Argentina, Paraguay and Uruguay added 380 thousand subscribers in the quarter, bringing to 857 thousand the total for the first semester. For the eighth consecutive quarter, postpaid subscriber growth exceeded that of prepaid. Our consolidated subscriber base increased by 11.1% year-on year to finish June at 17.4 million.

We generated two billion Argentine pesos in revenues in the second quarter, 14.7% more than the previous year. While equipment revenues were slightly lower, service revenues expanded by 17.9% in the period on the back of a 55.6% surge in data revenues. This region is considered to be the most advanced market in Latam in terms of data usage as more than one third of our service revenues are derived from value-added services. The growth of data services was crucial in helping the company secure a 6.0% annual increase in ARPU.

Wireless penetration in Argentina was estimated to be 118% at the end of June. With subscriber growth decelerating and subscriber acquisition costs becoming less taxing, our EBITDA jumped 24.2% year-on-year to 710 million Argentinean pesos in the quarter. It was equivalent to 35.4% of revenues, 2.7 percentage points higher than a year before.


In the first semester, revenues grew 16.0% annually to nearly reach four billion Argentinean pesos, with service revenues expanding 18.9% . Data revenues were the most dynamic component of service revenues having risen 49.4% in the period. EBITDA was up 22.5% in annual terms to 1.3 billion Argentinean pesos. Our EBITDA margin climbed 1.8 percentage points from a year before, to 33.9% .

INCOME STATEMENT 

Argentina, Uruguay & Paraguay
Millions of ARP

             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  2,006  1,750         14.7%  3,971  3,423         16.0% 
             
EBITDA  710  572         24.2%  1,347  1,100         22.5% 
% total revenues  35.4%  32.7%    33.9%  32.1%   
             
EBIT  573  448         28.0%  1,079  856         26.1% 
%  28.6%  25.6%    27.2%  25.0%   
             

Argentina, Uruguay & Paraguay Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 17,446  15,704  11.1% 
       Postpaid  2,296  1,928  19.1% 
       Prepaid  15,150  13,777  10.0% 
MOU  137  127  7.4% 
ARPU (ARP) 34  32  6.0% 
Churn (%) 2.5%  2.4%  0.10 
       

Brazil

Our Brazilian operations obtained 899 thousand new subscribers in the second quarter to finish June with 40.5 million clients, 22.3% more than a year before. Our postpaid base continued to grow at a faster pace than the prepaid one. It now represents 20.8% of our total subscribers.

Second quarter revenues of 2.9 billion reais were up 3.5% year-on-year, with service revenues increasing by 11.2% but equipment revenues falling 44.5% . Service revenues were driven by data services, which expanded by 66.3% year-on-year. ARPUs averaged 23 reais in the period; they were flat quarter-over-quarter.

EBITDA totaled 730 million reais, 12.3% more than in the same quarter of 2008. The EBITDA margin, 24.8% of revenues, was 2 percentage points higher than in the year-earlier quarter.


Year-to-date, revenues totaled 5.7 billion reais and EBITDA 1.4 billion reais.

INCOME STATEMENT 

Brazil
Millions of BrL

             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  2,948  2,849  3.5%  5,746  5,494  4.6% 
             
EBITDA  730  650  12.3%  1,446  1,438  0.5% 
% total revenues  24.8%  22.8%    25.2%  26.2%   
             
EBIT  280  93  201.7%  561  345  62.6% 
%  9.5%  3.3%    9.8%  6.3%   
             

Brazil Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 40,486  33,113  22.3% 
       Postpaid  8,407  6,496  29.4% 
       Prepaid  32,079  26,616  20.5% 
MOU  73  88  -17.0% 
ARPU (BrL) 23  26  -11.0% 
Churn (%) 2.8%  2.6%  0.2 
       

Chile

We finished June with 3.2 million clients in Chile, 16.4% more than the previous year, after adding 106 thousand subscribers in the second quarter.

Our revenues totaled 63.4 billion Chilean pesos in the period, 1.9% more than a year before, with service revenues falling slightly even as data revenues swelled 64.9% . The average revenue per minute of voice was down 36.1% over the year and 17.9% sequentially. For the most part, this reduction resulted from a 44% decline in mobile termination rates that took place towards the end of January. Interconnection revenues plummeted pressuring service revenues.

At 1.3 billion Chilean pesos the quarter’s EBITDA was down from the year-earlier quarter mainly as a result of higher subscriber additions—three times as many as last year—and the impact of the reduction of mobile termination rates.

In the six months to June we had 130.3 billion Chilean pesos in revenues and 2.8 billion in EBITDA.


INCOME STATEMENT 

Chile             
Millions of ChP             
             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  63,427  62,217  1.9%  130,343  124,020  5.1% 
             
EBITDA  1,297  2,365  -45.2%  2,758  3,809  -27.6% 
% total revenues  2.0%  3.8%    2.1%  3.1%   
             
EBIT  -9,049  -6,965  -29.9%  -17,620  -14,580  -20.9% 
%  -14.3%  -11.2%    -13.5%  -11.8%   
             

Chile Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 3,185  2,736  16.4% 
       Postpaid  427  366  16.6% 
       Prepaid  2,758  2,370  16.4% 
MOU  151  119  27.4% 
ARPU (ChP) 5,568  6,570  -15.2% 
Churn (%) 3.6%  4.1%  (0.5)
       

Colombia and Panama

We ended June with 27.1 million subscribers after adding 180 thousand clients in the quarter. Our subscriber base is up 12.1% annually. Just over 86% of our subscriber base in Colombia is prepaid, our market share has always been higher in this segment than in postpaid since we have superior coverage to reach to more clients and aggressive commercial promotions made possible by our heavy capital deployments.

With equipment revenues falling over 40% year-on-year total revenues for the quarter remained flat at 1.4 trillion Colombian pesos even though service revenues rose 5.1% annually. Revenues from data were up 33.4% in the period, providing good support to ARPUs. In Colombia, our average price per minute of voice was down 18% year-on-year to 4 dollar cents equivalent, one of the lowest in the world.

Our EBITDA came in at 704 billion Colombian pesos. The consolidation of Panama has created some distortions as the costs associated with the launch of our operations in that country has pushed down somewhat our EBITDA figures, which remained almost unchanged from a year before, with the margin flat at 49.8% of revenues. Absent the incorporation of Panama, a greenfield operation, it would have been 2.3 percentage points higher that that of the same period of 2008.

In the six months to June, revenues amounted to 2.9 trillion Colombian pesos and were 6.8% higher relative to the previous year. They were propped by service revenues that expanded 10.2% . EBITDA totaled almost 1.5 trillion Colombian pesos, the margin stood at 49.2% .


INCOME STATEMENT 

Colombia and Panama             
Billions of COP             
             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  1,412  1,410  0.2%  2,931  2,745  6.8% 
             
EBITDA  704  700  0.5%  1,441  1,345  7.1% 
% total revenues  49.8%  49.7%    49.2%  49.0%   
             
EBIT  535  509  5.2%  1,102  953  15.6% 
%  37.9%  36.1%    37.6%  34.7%   
             

Colombia and Panama Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 27,133  24,195  12.1% 
       Postpaid  3,792  3,439  10.3% 
       Prepaid  23,340  20,756  12.5% 
MOU  170  157  8.7% 
ARPU (COP) 16,242  17,414  -6.7% 
Churn (%) 2.9%  2.5%  0.4 
       

Ecuador

We gained 229 thousand subscribers in the quarter, 16.5% more than a year earlier, whereas the tally for the semester was 538 thousand. At the end of June we had 8.8 million subs, which represented a rate of growth of our base of 19.6% with respect to the previous year.

Second quarter revenues of 277 million dollars were 7.2% higher that those of the same period of 2008 but service revenue growth was nearly twice as high at 14.3% . Prices per minute of voice declined almost 10% year-on-year but with the expansion in traffic not fully compensating for such reduction ARPUs were down 4.5% . Revenues from data services are accelerating; year-on-year they posted an 18.4% increase.

Our EBITDA for the quarter was 133 million dollars, up 12.8% in annual terms. Our EBITDA margin showed an expansion of 2.4 percentage points from the year-earlier quarter to 47.9% of revenues.

In the six months to June we had 559 million dollars in revenues and 267 million in EBITDA. These figures were 12.4% and 19.4% higher than the comparable figures of 2008. The margin scaled 2.8 percentage points to 47.7% .


INCOME STATEMENT 

Ecuador
Millions of Dollars

             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  277  258  7.2%  559  497         12.4% 
             
EBITDA  133  118  12.8%  267  223         19.4% 
% total revenues  47.9%  45.5%    47.7%  44.9%   
             
EBIT  104  97  7.8%  211  182         16.3% 
%  37.7%  37.5%    37.8%  36.5%   
             

Ecuador Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 8,842  7,391  19.6% 
       Postpaid  994  851  16.8% 
       Prepaid  7,849  6,540  20.0% 
MOU  83  79  5.0% 
ARPU (US$) -4.5% 
Churn (%) 1.1%  1.9%  (0.7)
       

Peru

We added 526 thousand subscribers in the first semester of 2009 of which 217 thousand were obtained in the second quarter. At the end of June, we had 7.7 million subscribers, exceeding by 20.5% those of the previous year. Postpaid growth (29.2%) outpaced that of prepaid.

We registered 552 million soles of revenues, 9.6% more than in the second quarter of 2008 while service revenues rose 13.1% . Data revenues expanded 64.0% year-on-year. We continue to observe steep reductions in the average revenue per minute of voice; as compared to last year prices fell 33.6% .

EBITDA was up 11.5% over the year to 176 million soles. The margin was slightly higher than a year before.

Revenues for the first six months increased to 1.1 billion soles, 12.7% more than in the same period of 2008, while EBITDA totaled 362 million soles. It was equivalent to 32.7% of revenues, having climbed 3.4 percentage points from the year-earlier semester.


INCOME STATEMENT 

Peru
Millions of Soles

             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  552  503  9.6%  1,107  982         12.7% 
             
EBITDA  176  158  11.5%  362  288         25.7% 
% total revenues  31.9%  31.3%    32.7%  29.3%   
             
EBIT  127  109  16.6%  267  190         40.8% 
%  23.1%  21.7%    24.1%  19.3%   
             

Peru Operating Data 

       
  2Q09 2Q08 Var.% 
       
Wireless Subscribers (thousands) 7,704  6,392  20.5% 
       Postpaid  857  663  29.2% 
       Prepaid  6,847  5,729  19.5% 
MOU  117  87  34.8% 
ARPU (Sol) 20  22  -7.5% 
Churn (%) 3.1%  3.4%  (0.3)
       

Central America

Our operations in Central America comprising Guatemala, El Salvador, Nicaragua and Honduras added a total of 99 thousand new subscribers in the quarter, taking the total for the year to 154 thousand. We finished the period with 9.3 million wireless subscribers, 4.9% more than in the same period of last year. In addition to these, we have a total of 2.3 million landlines in the region.

We generated revenues of 330 million dollars in the quarter and 142 million dollars of EBITDA, equivalent to 43.1% of revenues. In the first semester revenues added up to 664 million dollars and EBITDA came in at 288 million. Our margin for the semester stood at 43.3% .


INCOME STATEMENT 

Central America Consolidated
Millions of Dollars

             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  330  365  -9.4%  664  731  -9.1% 
             
EBITDA  142  174  -18.1%  288  353  -18.5% 
% total revenues  43.1%  47.7%    43.3%  48.3%   
             
EBIT  68  101  -31.9%  142  211  -32.7% 
%  20.7%  27.6%    21.4%  28.9%   
             

Central America Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 9,312  8,875  4.9% 
       Postpaid  434  434  0.1% 
       Prepaid  8,878  8,442  5.2% 
Fixed Lines (thousands) 2,250  2,179  3.2% 
       
Total Lines (Wireless + Fixed, 000's) 11,562  11,055  4.6% 
MOU  110  120  -8.4% 
ARPU (US$) -21.0% 
Churn (%) 1.9%  1.8%  0.1 
       

Caribbean

Altogether, our operations in the islands added 825 thousand wireless subscribers in the semester—337 thousand in the second quarter—almost twice as many as the net gains of the same period of 2008. Our combined subscriber base ended June with 5.6 million, which represents an annual increase of 43.5% and of 6.4% over the quarter.

Revenues were somewhat higher than those obtained a year before at 535 million for the quarter, as wireless revenues rose 12.7% but fixed-line revenues continued to drift lower. The average price per minute of voice has fallen by nearly 15% over the year while traffic per subscriber has risen 11.1% . ARPU figures show a more pronounced decline, result of the dilution effect of subscriber growth in the prepaid segment.

EBITDA for the quarter was 189 million dollars or 35.3% of revenues. In absolute terms it was down 5.7% year-on-year with the EBITDA margin declining 2.5 percentage points on the costs of subscriber growth.

In the first half of the year we had revenues of 1.1 billion dollars and EBITDA of 354 million.


INCOME STATEMENT 

Caribbean Consolidated             
Millions of Dollars             
             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  535  531  0.9%  1,062  1,075  -1.2% 
             
EBITDA  189  200  -5.7%  354  425  -16.7% 
% total revenues  35.3%  37.8%    33.4%  39.6%   
             
EBIT  99  128  -22.5%  173  265  -34.9% 
%  18.5%  24.1%    16.3%  24.7%   
             

Caribbean Operating Data 

       
  2Q09 2Q08 Var.% 
       
Wireless Subscribers (thousands) 5,633  3,926  43.5% 
       Postpaid  1,031  881  17.0% 
       Prepaid  4,603  3,045  51.2% 
Fixed Lines (thousands) 1,568  1,710  -8.3% 
       
Total Lines (Wireless + Fixed, 000's) 7,201  5,636  27.8% 
MOU  242  273  -11.1% 
ARPU (US$) 13  16  -21.3% 
Churn (%) 4.5%  3.2%  1.3 
       

United States

Tracfone’s net additions—730 thousand—more than tripled those obtained in the second quarter of 2008, bringing the total net subscriber gains through June to 1.3 million. At the end of that month our subscriber base topped 12.5 million and was 23.6% bigger than a year before.

The quarter’s revenues came in at 400 million dollars surpassing by 7.6% those obtained in the same period of last year, with service revenues growing somewhat faster: 8.8% . We introduced a new brand—Straight Talk—that combines the benefits of having large buckets of minutes with the convenience of not getting tied to a contract. Partly because of this, our average revenue per minute of voice declined 36.2% year-on-year and 27.5% sequentially. We saw improvements in MOUs of similar dimensions. Though ARPUs were down annually, so were the costs of airtime.

EBITDA for the period was 79 million dollars 9.4% lower that in 2008 on account of the much greater number of net subscriber additions. The quarter’s EBITDA margin was 3.7 percentage points lower at 19.8% .

In the six months to June, revenues amounted to 780 million dollars and EBITDA to 154 million dollars. Whereas the former were up 7.2% year-on-year the latter was down 5.9% on the faster pace of subscriber growth.


INCOME STATEMENT 

United States
Millions of Dollars

             
  2Q09  2Q08  Var.%  Jan - Jun 09  Jan - Jun 08  Var.% 
             
Revenues  400  371  7.6%  780  728  7.2% 
             
EBITDA  79  87  -9.4%  154  163  -5.9% 
% total revenues  19.8%  23.5%    19.7%  22.4%   
             
EBIT  72  81  -10.8%  140  150  -7.1% 
%  18.1%  21.8%    17.9%  20.7%   
             

United States Operating Data 

       
  2Q09  2Q08  Var.% 
       
Wireless Subscribers (thousands) 12,489  10,108  23.6% 
MOU  103  74  37.7% 
ARPU (US$) 10  11  -10.2% 
Churn (%) 3.9%  3.7%  0.2 
       


Tipos de Cambio 

             
  2T09  2T08  Var.%  Ene - Jun 09  Ene - Jun 08  Var.% 
             
México             
EoP  13.20  10.28  28.4%  13.20  10.28  28.4% 
Promedio  13.35  10.36  28.9%  13.86  10.56  31.3% 
 
Brasil             
EoP  1.95  1.59  22.6%  1.95  1.59  22.6% 
Promedio  2.07  1.64  26.7%  2.19  1.68  30.2% 
 
Argentina             
EoP  3.80  3.03  25.5%  3.80  3.03  25.5% 
Promedio  3.73  3.10  20.4%  3.64  3.13  16.2% 
 
Chile             
EoP  532  526  1.1%  532  526  1.1% 
Promedio  566  489  15.8%  586  471  24.6% 
 
Colombia             
EoP  2,159  1,923  12.3%  2,159  1,923  12.3% 
Promedio  2,230  1,820  22.6%  2,321  1,844  25.9% 
 
Guatemala             
EoP  8.15  7.55  8.0%  8.15  7.55  8.0% 
Promedio  8.11  7.49  8.3%  8.03  7.60  5.7% 
 
Honduras             
EoP  19.03  19.03  0.0%  19.03  19.03  0.0% 
Promedio  19.03  19.06  -0.2%  19.03  19.04  -0.1% 
 
Nicaragua             
EoP  20.33  19.37  5.0%  20.33  19.37  5.0% 
Promedio  20.21  19.29  4.8%  20.09  19.17  4.8% 
 
Perú             
EoP  3.01  2.97  1.5%  3.01  2.97  1.5% 
Promedio  3.02  2.89  4.7%  3.11  2.87  8.2% 
 
Paraguay             
EoP  5,020  3,930  27.7%  5,020  3,930  27.7% 
Promedio  5,026  4,033  24.6%  5,044  4,295  17.4% 
 
Uruguay             
EoP  23.43  19.43  20.6%  23.43  19.43  20.6% 
Promedio  23.70  19.71  20.3%  23.61  20.23  16.8% 
 
Dominicana             
EoP  36.05  34.39  4.8%  36.05  34.39  4.8% 
Promedio  36.03  34.27  5.1%  35.85  34.17  4.9% 
 
Jamaica             
EoP  89.07  71.37  24.8%  89.07  71.37  24.8% 
Promedio  89.03  71.24  25.0%  87.74  71.26  23.1% 
             


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, 2009

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

  Name:
Title:
Carlos García Moreno
Chief Financial Officer
 

 

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