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 FOURTH QUARTER OF 2012
FINANCIAL AND OPERATING REPORT
Mexico City, February 12, 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 fourth quarter of 2012.
7M new accesses |
• América Móvil added 5.6 million wireless clients and 1.3 million RGUs in the fourth quarter to finish December with 325.7 million accesses, 8.7% more than in 2011. This figure includes 261.6 million wireless subscribers, 30.5 million landlines, 17.2 million broadband accesses and 16.4 million PayTV units. Our fixed-line division grew 10.8% year-on-year while our wireless subscriber base was up 8.2%. |
| |
1.8M net adds in Brazil |
• We gained 1.8 million new wireless subscribers in Brazil, 1.2 million in Mexico, 753 thousand in the U.S. and 409 thousand in Colombia. Our fastest growing operations, in relative terms, were the Central American block, Peru and TracFone in the U.S. |
| |
4Q Revenues MxP 198Bn |
• America Movil revenues reached 198 billion pesos in the quarter, down 1.1% from the year-earlier quarter in Mexican peso terms on account of the depreciation of various currencies vs. the peso. |
| |
Service revenues up 5.2% in constant Fx |
• At constant exchange rates, service revenues were up 5.2% year-on-year and total revenues 5.8%. As regards our main business lines, mobile data and PayTV were the drivers of revenue growth. |
| |
EBITDA of 61.7Bn pesos |
• The quarter’s EBITDA was 61.7 billion pesos, equivalent to 31.1% of revenues. Operating profits reached 35.4 billion pesos with depreciation and amortization charges that remained practically unchanged relative to revenues. |
| |
Net profit of MxP 15Bn |
• We obtained a net profit of 15.0 billion pesos in the fourth quarter, down 8.2% year-on-year. Earnings per share were equivalent to 20 Mexican peso cents and 30 dollar cents per ADR. |
| |
Shareholder distributions of MxP 32.5Bn |
• Our net debt ended the year at 372.2 billion pesos, up from 332.1 billion at the close of 2011. Our net borrowings helped fund the acquisition of ownership interests in various entities, including KPN and Telekom Austria, which totaled 84.9 billion pesos. Our cash flow from operations allowed us to pay for capital expenditures of 130.9 billion pesos and to effect distributions to shareholders in the amount of 32.5 billion pesos. |
América Móvil Fundamentals (IFRS) | |||
|
|
|
|
|
4Q12 |
4Q11 |
Var. % |
EPS (Mex$)(1) |
0.20 |
0.21 |
-6.8% |
Earning per ADR (US$)(2) |
0.30 |
0.31 |
-2.0% |
Net Income (millions of Mex$) |
14,962 |
16,307 |
-8.2% |
Average Shares Outstanding (billion) (3) |
76.00 |
77.18 |
-1.5% |
Average ADRs Outstanding (millions) (4) |
803 |
911 |
-11.8% |
(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 In November, we launched a Global Peso program intended to raise 100 billion pesos over five years to increase the share of Mexican pesos in our overall funding. Under the program the notes will be issued quarterly under our SEC-registered shelf in the U.S. The program has been registered before the Mexican Banking and Securities Commission and the notes issued in the U.S. will also be registered in Mexico allowing for seamless trading of the Global Peso bonds by national and international investors. In our first offering, we placed ten-year notes in the amount of 15 billion pesos. Demand for the bonds topped 50 billion pesos in what was the largest ever book-building exercise for a fixed-income security in the country. On December 7th, our subsidiary Teléfonos de México, S.A.B. de C.V. received the authorization from the Mexican Banking and Securities Commission to cancel the registration of its shares in the National Securities Registry and its listing in the Mexican Stock Exchange. On January 21st, we announced that we had entered into an agreement with Corporación Interamericana de Entretenimiento to acquire 100% of the shares in its media and advertising business Corporación de Medios Integrales. The completion of the transaction is subject to certain approvals and is expected to occur during the second quarter of 2013. In the third quarter, we launched our new product Claro Video that gives users unlimited access to a library of movies, TV series and other types of content for a monthly fee. The service is available today in several countries, including Mexico, and will shortly be offered in all our operations.
América Móvil’s Subsidiaries as of December 2012 |
| |||
|
|
|
|
|
Country |
Brand |
Business |
Equity Participation |
Consolidation Method |
Mexico |
Telcel |
wireless |
100.0% |
Global Consolidation Method |
|
Telmex |
wireline |
97.6% |
Global Consolidation Method |
|
Sección Amarilla (1) |
other |
100.0% |
Global Consolidation Method |
|
Telvista |
other |
88.9% (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 |
95.4% |
Global Consolidation Method |
|
Net |
Cable |
88.0% |
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 |
The Netherlands |
KPN |
wireless/wireline |
29.8% |
Equity Method |
Austria |
Telekom Austria |
wireless/wireline |
23.7% |
Equity Method |
(1) Equity Participation of Telmex Internacional of which América Móvil owns 97.6% | ||||
(2) AMX owns directly 45%and 45% through its subsidiary Telmex |
|
Total Accesses We ended the year with 325.7 million accesses, 8.7% more than a year before. They include 261.6 million wireless subscribers, 30.5 million landlines, 17.2 million broadband accesses and 16.4 million PayTV units. Our fixed-line accesses increased 10.8% year-on-year on the back of PayTV and fixed broadband acceses, while our wireless subscriber base rose 8.2%. Wireless Subscribers We added 5.6 million wireless subscribers in the fourth quarter—after one-off disconnections of 1.5 million clients—taking our net adds for the year to 19.8 million, 18.4% more than in the prior year. Of the quarter’s net gains 1.8 million came from Brazil, 1.2 million from Mexico, 753 thousand from the U.S. and 409 thousand from Colombia, with net additions more than doubling in Chile and the Caribbean. Chile, Peru and Central America experienced the most rapid pace of subscriber growth. Our postpaid base increased by 1.4 million clients in the fourth quarter with 337 thousand coming from from Brazil and 280 thousand from México. In relative terms, postpaid growth was fastest in Central America, Peru and Ecuador. At the end of the year, we had 70.4 million wireless subscribers in Mexico, 65.2 million in Brazil, 30.4 million in Colombia and 22.4 million in the US, as well as 20.0 million clients in Argentina and 21.1 million in Central America–Caribbean.
Wireless Subscribers as of December 2012 |
|
|
| ||
|
|
|
|
|
|
Thousands |
|
|
|
|
|
Total(1) | |||||
Country |
Dec'12 |
Sep'12 |
Var.% |
Dec'11 |
Var.% |
Mexico |
70,366 |
69,171 |
1.7% |
65,678 |
7.1% |
Brazil |
65,238 |
63,447 |
2.8% |
60,380 |
8.0% |
Chile |
6,174 |
5,804 |
6.4% |
5,537 |
11.5% |
Argentina, Paraguay & Uruguay |
21,258 |
21,736 |
-2.2% |
20,744 |
2.5% |
Colombia |
30,371 |
29,962 |
1.4% |
28,819 |
5.4% |
Ecuador |
11,758 |
11,462 |
2.6% |
11,057 |
6.3% |
Peru |
12,881 |
12,399 |
3.9% |
11,254 |
14.5% |
Central America & The Caribbean |
21,119 |
20,289 |
4.1% |
18,524 |
14.0% |
USA |
22,392 |
21,639 |
3.5% |
19,762 |
13.3% |
Total Wireless Lines |
261,558 |
255,909 |
2.2% |
241,755 |
8.2% |
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
We added 1.3 million RGUs in the fourth quarter bringing to 6.3 million the RGUs net adds for the year.
In Brazil, we had 28.6 million RGUs at the end of 2012, 21.2% more than a year before driven by PayTV and broadband accesses that rose 28.5% and 23.4%, respectively. In Mexico, we had 22.7 million RGUs, 6.1 million in Central America–Caribbean and 4.2 million in Colombia. In relative terms, Ecuador and the Argentinean block had the highest growth rates with approximately 43%.
Fixed-Line and Other Accesses (RGUs) as of December 2012 |
| ||||
|
|
|
|
|
|
Thousands |
|
|
|
|
|
Total* | |||||
Country |
Dec'12 |
Sep'12 |
Var.% |
Dec'11 |
Var.% |
Mexico |
22,669 |
22,730 |
-0.3% |
22,766 |
-0.4% |
Brazil |
28,587 |
27,510 |
3.9% |
23,588 |
21.2% |
Colombia |
4,195 |
4,072 |
3.0% |
3,549 |
18.2% |
Ecuador |
248 |
226 |
9.5% |
174 |
42.8% |
Peru |
873 |
837 |
4.2% |
690 |
26.4% |
Argentina, Uruguay & Paraguay |
437 |
404 |
8.2% |
306 |
43.0% |
Chile |
1,071 |
1,028 |
4.2% |
1,030 |
3.9% |
Central America & Caribbean |
6,061 |
5,999 |
1.0% |
5,781 |
4.9% |
Total RGUs |
64,140 |
62,806 |
2.1% |
57,884 |
10.8% |
*Fixed Line, Broadband and Television (Cable & DTH) |
América Móvil Consolidated Results
Whereas financial volatility became more subdued in the fourth quarter as the uncertainty around the euro continued to subside, economic activity faced significant headwinds throughout the world with the recessionary situation in much of Europe appearing set to continue throughout 2013 and with the U.S. economy slowing down sharply. Some Latin American countries resented these trends.
America Movil revenues reached 198 billion pesos in the quarter and 775 billion pesos for the full year. They were down 1.1% from the year-earlier quarter in Mexican peso terms on account of the depreciation of various currencies vs. the Mexican peso, particularly the U.S. dollar and the Brazilian real. Mobile data revenues continued to gain share of revenues and have come to represent one third of wireless revenues and 18% of total revenues.
At constant exchange rates service revenues were up 5.2% year-on-year and total revenues 5.8%. Service revenue growth improved from the prior quarter in all major regions except Mexico. As regards our main business lines, mobile data and PayTV were the drivers of revenue growth, with 33.3% and 20.2%, respectively, while fixed-line voice posted a 7.2% revenue decline continuing the trend seen over the last several quarters. Mobile voice revenues were down 1.7%, partly on account of the marked economic slowdown observed in several countries in the region that took place hand in hand with that of the U.S.
The quarter’s EBITDA totaled 61.7 billion pesos and that of the full year 260.9 billion pesos, with the quarter’s margin declining to 31.1% from 33.5% a year before. The reduction of the margin partly arises from the growth of PayTV and TracFone, that are lower margin business, but also reflects the continued migration to smartphones that has entailed somewhat larger subsidies and the spillover effects into Opex of the large investment program we are conducting. Operating profits reached 35.4 billion pesos after depreciation and amortization charges that remained in the range of 13% of revenues, similar to that of the prior year.
We registered a comprehensive financing charge of 10.5 billion pesos that included a foreign exchange loss of 4.8 billion pesos mostly resulting from the appreciation of the euro vis-à-vis other currencies. Our investments in Europe are carried at cost and are thus considered non-monetary assets. Whereas there is no mismatch in the currency position—assets in Europe are funded with euro-denominated obligations—a cost nonetheless results when the euro appreciates given the non-monetary nature of the said assets and the monetary nature of the liabilities. For the full year financing charges, 19.6 billion pesos, were 35.4% lower than those observed in 2011, reflecting a swing in the foreign exchange position to a net gain of 7.4 billion pesos.
A net profit of 15.0 billion pesos was obtained in the fourth quarter that was equivalent to 20 peso cents per share or 30 dollar cents per ADR. It brought the net income for the year to 91.4 billion pesos, a figure that surpassed by 10.6% that of 2011.
America Movil's Income Statement (IFRS) |
|
|
|
| ||
Millions of Mexican Pesos |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - Dec 12 |
Jan - Dec 11 |
Var.% |
| ||||||
Net Service Revenues |
176,835 |
180,567 |
-2.1% |
705,507 |
669,021 |
5.5% |
Equipment Revenues |
21,177 |
19,573 |
8.2% |
69,563 |
62,394 |
11.5% |
Total Revenues |
198,012 |
200,140 |
-1.1% |
775,070 |
731,416 |
6.0% |
|
|
|
|
|
|
|
Cost of Service |
58,981 |
59,323 |
-0.6% |
232,980 |
215,107 |
8.3% |
Cost of Equipment |
31,499 |
29,829 |
5.6% |
110,466 |
95,063 |
16.2% |
Selling, General & Administrative Expenses |
43,736 |
42,529 |
2.8% |
162,771 |
154,418 |
5.4% |
Others |
2,138 |
1,449 |
47.6% |
7,957 |
7,016 |
13.4% |
Total Costs and Expenses |
136,354 |
133,129 |
2.4% |
514,175 |
471,604 |
9.0% |
|
|
|
|
|
|
|
EBITDA |
61,659 |
67,011 |
-8.0% |
260,895 |
259,812 |
0.4% |
% of Total Revenues |
31.1% |
33.5% |
|
33.7% |
35.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation & Amortization |
26,307 |
27,561 |
-4.6% |
103,585 |
100,018 |
3.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBIT |
35,351 |
39,449 |
-10.4% |
157,310 |
159,794 |
-1.6% |
% of Total Revenues |
17.9% |
19.7% |
|
20.3% |
21.8% |
|
|
|
|
|
|
|
|
Net Interest Expense |
4,942 |
4,277 |
15.5% |
19,138 |
14,677 |
30.4% |
Other Financial Expenses |
774 |
408 |
89.6% |
7,810 |
-7,649 |
202.1% |
Foreign Exchange Loss |
4,813 |
6,778 |
-29.0% |
-7,395 |
23,239 |
-131.8% |
Comprehensive Financing Cost (Income) |
10,529 |
11,464 |
-8.2% |
19,553 |
30,267 |
-35.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income & Deferred Taxes |
9,375 |
10,983 |
-14.6% |
46,379 |
41,476 |
11.8% |
Net Income before Minority Interest and Equity |
15,447 |
17,002 |
-9.1% |
91,378 |
88,052 |
3.8% |
Participation in Results of Affiliates |
|
|
|
|
|
|
minus |
|
|
|
|
|
|
Equity Participation in Results of Affiliates* |
-346 |
-4 |
n.m. |
761 |
68 |
n.m. |
Minority Interest |
-138 |
-691 |
80.0% |
-699 |
-5,421 |
87.1% |
Net Income |
14,962 |
16,307 |
-8.2% |
91,441 |
82,698 |
10.6% |
n.m. Not meaningful |
|
|
|
|
|
|
*Includes results of KPN |
|
|
|
|
|
|
Balance Sheet (in accordance with IFRS) | |||||||
América Móvil Consolidated | |||||||
Millions of Mexican Pesos | |||||||
|
Dec '12 |
Dec '11 |
Var.% |
|
Dec '12 |
Dec '11 |
Var.% |
|
| ||||||
|
|
|
|
|
|
|
|
Current Assets |
|
|
|
Current Liabilities |
|
|
|
Cash & Securities |
45,487 |
64,503 |
-29.5% |
Short Term Debt** |
13,622 |
28,550 |
-52.3% |
Accounts Receivable |
121,657 |
137,169 |
-11.3% |
Accounts Payable |
187,752 |
192,111 |
-2.3% |
Other Current Assets |
11,961 |
11,674 |
2.5% |
Other Current Liabilities |
50,156 |
55,693 |
-9.9% |
Inventories |
28,698 |
34,538 |
-16.9% |
|
251,530 |
276,354 |
-9.0% |
|
207,803 |
247,884 |
-16.2% |
|
|
|
|
|
|
|
|
|
|
|
|
Non Current Assets |
|
|
|
|
|
|
|
Plant & Equipment |
500,434 |
497,165 |
0.7% |
|
|
|
|
Investments in Affiliates |
73,116 |
1,163 |
n.a. |
Non Current Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long Term Debt |
404,048 |
368,015 |
9.8% |
Deferred Assets |
|
|
|
Other Non Current Liabilities |
34,668 |
30,879 |
12.3% |
Goodwill (Net) |
99,706 |
104,675 |
-4.7% |
|
438,716 |
398,894 |
10.0% |
Intangible Assets |
45,196 |
52,045 |
-13.2% |
|
|
|
|
Deferred Assets |
76,315 |
70,845 |
7.7% |
Shareholder's Equity |
312,323 |
298,530 |
4.6% |
|
|
|
|
|
|
|
|
Total Assets |
1,002,569 |
973,777 |
3.0% |
Total Liabilities and Equity |
1,002,569 |
973,777 |
3.0% |
** Includes current portion of Long Term Debt |
Our net debt ended the year at 372.2 billion pesos, up from 332.1 billion at the close of 2011. Our net borrowings helped fund the acquisition of ownership interests in various entities--including KPN and Telekom Austria--that totaled 84.9 billion pesos. Our cash flow from operations allowed us to pay for capital expenditures of 130.9 billion pesos and to effect distributions to shareholders in the amount of 32.5 billion pesos.
Financial Debt of América Móvil* |
|
|
|
|
|
Millions of U.S. Dollars |
|
|
|
Dec-11 |
Dec-12 |
Peso denominated debt |
5,313 |
6,089 |
Bonds and other securities |
5,309 |
6,089 |
Banks and others |
4 |
0 |
U.S. Dollar - denominated debt |
14,151 |
15,721 |
Bonds and other securities |
12,348 |
15,098 |
Banks and others |
1,803 |
623 |
Debt denominated in other currencies |
8,881 |
10,294 |
Bonds and other securities |
7,488 |
10,257 |
Banks and others |
1,393 |
38 |
Total Debt |
28,346 |
32,104 |
*This chart does not include the effect of forwards and derivatives used to hedge the foreign exchange exposure. | ||
Mexico
Our Mexican wireless operation added 1.2 million subscribers in the fourth quarter—after one time disconnections of 1.0 million clients—to finish the year with 70.4 million subscribers, 7.1% more than a year before. Nearly one fourth of the quarter’s net additions were postpaid clients. Our postpaid base increased twice as fast as prepaid, 15.4%, allowing us to continue to gain share in that segment of the market. On the wireline platform we lost 225 thousand fixed-telephony lines but added 164 thousand fixed-broadband accesses in the quarter. RGUs ended the year at 22.7 million slightly down, 0.4%, from the year-earlier quarter.
Fourth quarter revenues were just shy of 70 billion pesos declining slightly from the year before as the gain in wireless revenues, 5.9%, was not sufficient to offset the decline in wireline revenues, 9.7%, that resulted in part from the introduction of additional benefits to our clients in fixed to mobile calls, with 100 minutes of additional traffic at no charge. The share of wireless in the revenues of our Mexican operations rose from 61% to 65% in the period.
The rise in wireless revenues was driven by mobile data, up 24.8%, as mobile voice revenues were down 3.8% on account of the sharp economic slowdown observed in the period and the continued price reductions. The average price per minute of voice fell 19.7% from the year-earlier quarter and greatly contributed to the increased consumption of air traffic by our clients, with MOUs shooting up 16.5% to 274 minutes—our highest level ever and one of the highest in Latam. Fixed-line revenues declined 9.7% year-on-year with both voice and data revenues falling at a similar pace.
EBITDA came in at 30.3 billion pesos and was equivalent to 43.3% of revenues. For 2012 it totaled 121.9 billion pesos and represented 45.0% of revenues. The margin has declined on account of the faster adoption of smartphones and the efforts being undertaken to increase share in the postpaid segment of the market.
In November, we launched our 4G LTE network in Mexico covering 9 cities. We are investing in expanding rapidly our 4G footprint and estimate to have 65% of the country with fast mobile broadband services by April 2013. The minimum download speed in our 4G network is 20 Mbps.
We have continued to attract clients through the number-portability mechanism implemented more than six years ago thanks to our overall quality of service, coverage and ability to provide the best data services in the country.
Income Statement (IFRS) |
|
|
|
|
|
|
México |
|
|||||
Millions of MxP |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
69,978 |
70,320 |
-0.5% |
271,004 |
263,624 |
2.8% |
Wireless Revenues |
45,485 |
42,949 |
5.9% |
172,229 |
159,953 |
7.7% |
Service Revenues |
36,047 |
34,147 |
5.6% |
143,376 |
132,719 |
8.0% |
Equipment Revenues |
9,133 |
8,679 |
5.2% |
28,497 |
26,976 |
5.6% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
26,137 |
28,956 |
-9.7% |
104,902 |
111,173 |
-5.6% |
|
|
|
|
|
|
|
EBITDA |
30,277 |
32,290 |
-6.2% |
121,853 |
126,412 |
-3.6% |
% total revenues |
43.3% |
45.9% |
|
45.0% |
48.0% |
|
|
|
|
|
|
|
|
EBIT |
24,235 |
26,111 |
-7.2% |
97,526 |
101,360 |
-3.8% |
% |
34.6% |
37.1% |
|
36.0% |
38.4% |
|
*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. |
Mexico Operating Data (IFRS) |
|
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
70,366 |
65,678 |
7.1% |
Postpaid |
8,610 |
7,460 |
15.4% |
Prepaid ** |
61,756 |
58,218 |
6.1% |
MOU |
274 |
235 |
16.5% |
ARPU (MxP) |
172 |
168 |
2.6% |
Churn (%) |
3.6% |
5.6% |
(2.0) |
Revenue Generating Units (RGUs)* |
22,669 |
22,766 |
-0.4% |
* Fixed Line and Broadband |
|
|
|
** The annual comparison is affected by the change in churn policy effective as of December 2011. |
Argentina, Paraguay and Uruguay
Our wireless subscriber was down 2.2% in the quarter to 21.3 million subs after we disconnected 515 thousand subscribers in Argentina. On the fixed-line front, we ended the year with 437 thousand RGUs, 43.0% more than a year before.
The quarter’s revenues, 3.9 billion Argentinean pesos, exceeded by 14.4% those obtained the year before. Wireless service revenues increased 11.5%—and ARPUs 1.9%—driven by a 29.1% expansion in data revenues. Fixed-line revenues, which account for 6.4% of the total, were up 30.3% relative to those of the prior year.
EBITDA of 1.3 billion Argentinean pesos was 9.0% higher than that of the year-earlier quarter before with a margin that stood at 32.8% of revenues. For the full year, EBITDA came in at 5 billion Argentinean pesos.
In Argentina, we ended the year with gains from mobile number portability obtained in the quarter. In November, it was implemented in Paraguay and thus far the balance has been positive for Claro.
Income Statement (IFRS) |
|
|
|
|
| |
Argentina, Paraguay & Uruguay |
||||||
Millions of ARP |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
3,899 |
3,407 |
14.4% |
14,556 |
12,658 |
15.0% |
Wireless Revenues |
3,675 |
3,233 |
13.7% |
13,742 |
12,000 |
14.5% |
Service Revenues |
3,195 |
2,867 |
11.5% |
11,988 |
10,612 |
13.0% |
Equipment Revenues |
478 |
363 |
31.7% |
1,745 |
1,381 |
26.3% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
249 |
191 |
30.3% |
865 |
698 |
24.0% |
|
|
|
|
|
|
|
EBITDA |
1,279 |
1,174 |
9.0% |
4,988 |
4,750 |
5.0% |
% total revenues |
32.8% |
34.5% |
|
34.3% |
37.5% |
|
|
|
|
|
|
|
|
EBIT |
976 |
879 |
11.1% |
4,019 |
3,861 |
4.1% |
% |
25.0% |
25.8% |
|
27.6% |
30.5% |
|
*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. |
Argentina, Uruguay & Paraguay Operating Data (IFRS) | |||
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
21,258 |
20,744 |
2.5% |
Postpaid |
2,868 |
2,752 |
4.2% |
Prepaid |
18,390 |
17,992 |
2.2% |
MOU |
146 |
153 |
-4.4% |
ARPU (ARP) |
49 |
48 |
1.9% |
Churn (%) |
3.5% |
2.2% |
1.2 |
Revenue Generating Units (RGUs)* |
437 |
306 |
43.0% |
* Fixed Line, Broadband and PayTV. |
|
|
|
Brazil
We had 93.8 million access lines in Brazil at the end of 2012, 11.7% more than a year before. On wireless, our subscriber base reached 65.2 million clients—an annual increase of 8.0%—after net additions of 1.8 million subs in the fourth quarter, nearly 20% of which were postpaid. Churn rates have come down by 0.3 percentage points and net additions accelerated as our plans became more competitive. As regards our fixed-line division, we ended the year with 28.6 million RGUs, up 21.2%year-over-year. At 28.5% year-on-year, Pay TV is our fastest growing segment, having added 540 thousand PayTV clients in the last quarter to finish the year with 12.6 million. We also had 5.8 million broadband accesses—they increased 23.4% over the year—and 10.3 million landlines, which rose 12.2%.
Fourth quarter revenues of 7.9 billion reais were up 3.3% from a year before. Wireless service revenues fell 4.3% reflecting among other things the 13% decline in mobile termination rates that was enacted in March 2011. Such reduction contributed to a 28% reduction in the average price per minute of voice that in turn helped boost MOUs, up 16.1%. On the other hand, wireline revenues increased 6.7% over the year and were just shy of five billion reais. PayTV and broadband revenues grew 22.2% and 18.2%, respectively, while those derived from long distance continued their declining trend.
EBITDA came in at 1.6 billion reais, down 8.3% compared with the previous year, as the margin fell 2.6 percentage points. The reduction in EBITDA is in part structural as PayTV becomes a more significant business line since its margin is lower than that of other business segments. The reduction also reflects costs related to the expansion of our networks that are not being capitalized.
In December, we launched our new 4G-LTE network in Brazil. We will continue to expand the footprint of our new network to offer state-of-the-art value added services.
We gained 393.5 thousand clients through number portability in 2012, including 118.6 thousand that came over in the last quarter.
Income Statement (IFRS) |
|
|
|
|
|
|
Brazil |
|
|||||
Millions of BrL |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
7,927 |
7,670 |
3.3% |
30,717 |
29,353 |
4.6% |
Wireless Revenues |
3,273 |
3,386 |
-3.3% |
12,760 |
12,993 |
-1.8% |
Service Revenues |
2,995 |
3,131 |
-4.3% |
11,870 |
12,164 |
-2.4% |
Equipment Revenues |
272 |
255 |
7.0% |
881 |
812 |
8.5% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
4,986 |
4,672 |
6.7% |
19,348 |
17,912 |
8.0% |
|
|
|
|
|
|
|
EBITDA |
1,638 |
1,787 |
-8.3% |
7,237 |
7,478 |
-3.2% |
% total revenues |
20.7% |
23.3% |
|
23.6% |
25.5% |
|
|
|
|
|
|
|
|
EBIT |
100 |
169 |
-40.7% |
1,409 |
1,782 |
-20.9% |
% |
1.3% |
2.2% |
|
4.6% |
6.1% |
|
*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. |
Brazil Operating Data (IFRS) | |||
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
65,238 |
60,380 |
8.0% |
Postpaid |
13,069 |
12,669 |
3.2% |
Prepaid |
52,170 |
47,710 |
9.3% |
MOU |
126 |
109 |
16.1% |
ARPU (BrL) |
16 |
18 |
-12.3% |
Churn (%) |
3.7% |
4.1% |
(0.3) |
Revenue Generating Units (RGUs)* |
28,587 |
23,588 |
21.2% |
* Fixed Line, Broadband and Television |
|
|
Colombia
Net wireless additions for the quarter were 409 thousand and 1.6 million for the year. In December, our wireless subscriber base of 30.4 million, 5.4% above the prior year, while the postpaid segment increased 12.5%. We also had 4.2 million RGUs, 18.2% more than in 2011, with fixed telephony lines climbing 27.4% and broadband accesses 35.9%.
The quarter’s revenues stood at 2.7 trillion Colombian pesos and were 9.0% higher than those of the same period of 2011. Wireless service revenues—which accounted for 69% of the total—registered an annual increase of 6.6% driven by data revenues that expanded 35.6%. They helped bring about a 9.6% increase in ARPU. On the other hand, fixed-line revenues increased 17.9% on the back of both voice and data services, up 27.3% and 25.5%, respectively, with PayTV revenues expanding more slowly.
Our EBITDA rose 7.9% to 1.2 trillion Colombian pesos. The EBITDA margin was equivalent to 45.0% of revenues, as the costs linked to the growth of new subscribers, specially from those that are acquiring smartphones with data plans, weighted on the margin.
We continued to benefit from being the preferred option for many consumers thanks to our superior coverage and quality of service. This allowed us to gain more than 250 thousand subscribers in 2012 from mobile number portability.
As regards to the process of asymmetric regulation related to dominance, the Telecom regulator (Comisión de Regulación de Comunicaciones de Colombia) issued a resolution by which the price of off-net calls should be equal to the price of the on-net calls for Claro.
Income Statement (IFRS) |
|
|
|
|
|
|
Colombia |
|
|
|
|
|
|
Billions of COP |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
2,659 |
2,438 |
9.0% |
9,996 |
9,013 |
10.9% |
Wireless Revenues |
2,152 |
2,005 |
7.3% |
8,114 |
7,434 |
9.1% |
Service Revenues |
1,841 |
1,728 |
6.6% |
7,094 |
6,526 |
8.7% |
Equipment Revenues |
280 |
267 |
5.0% |
948 |
842 |
12.6% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
490 |
416 |
17.9% |
1,825 |
1,519 |
20.1% |
|
|
|
|
|
|
|
EBITDA |
1,197 |
1,110 |
7.9% |
4,661 |
4,183 |
11.4% |
% total revenues |
45.0% |
45.5% |
|
46.6% |
46.4% |
|
|
|
|
|
|
|
|
EBIT |
828 |
798 |
3.8% |
3,285 |
2,955 |
11.2% |
% |
31.2% |
32.7% |
|
32.9% |
32.8% |
|
*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. |
Colombia Operating Data (IFRS) |
|
| |
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
30,371 |
28,819 |
5.4% |
Postpaid |
5,352 |
4,755 |
12.5% |
Prepaid |
25,020 |
24,064 |
4.0% |
MOU |
230 |
216 |
6.6% |
ARPU (CoP) |
20,465 |
18,678 |
9.6% |
Churn (%) |
3.9% |
7.2% |
(3.3) |
Revenue Generating Units (RGUs)* |
4,195 |
3,549 |
18.2% |
* Fixed Line, Broadband and Television |
|
|
|
** The annual comparison is affected by the change in churn policy effective as of December 2011. |
Chile
Our wireless subscriber base reached 6.2 million at the end of December having risen 11.5% over the prior year. The quarter’s net additions, 370 thousand, were twice as many as a year before. We also had 1.1 million RGUs with broadband being the fastest growing segment, with a 17.5% annual increase.
Fourth quarter revenues reached 203.3 billion Chilean pesos, 18.6% more than in 2011. Wireless service revenues were up 12.4% accounting for 54% of the total driven by data revenues that climbed 46.9%. ARPU rose 3.0% as compared to the precedent year on the back of data usage. As regards to the fixed-line segment, revenues increased 4.3% buoyed by 26.3% data growth.
Our EBITDA for the quarter was 3.8 billion Chilean pesos, equivalent to 1.9% of revenues. It was down as compared to that of same quarter of 2011 primarily on account of faster subscriber growth and its corresponding acquisition costs, and to a lesser extent, to costs related to the operation of a larger network and the improvements in customer care.
We are currently deploying our 4G LTE network and expect to launch the service in the next few weeks.
Claro was a net gainer of more than 120 thousand ported lines in 2012.
Income Statement (IFRS) |
|
|
|
|
|
|
Chile |
||||||
Millions of ChP |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
203,328 |
171,433 |
18.6% |
720,199 |
629,704 |
14.4% |
Wireless Revenues |
154,024 |
125,525 |
22.7% |
525,062 |
442,888 |
18.6% |
Service Revenues |
110,452 |
98,226 |
12.4% |
424,666 |
364,115 |
16.6% |
Equipment Revenues |
43,661 |
25,200 |
73.3% |
100,947 |
74,726 |
35.1% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
52,100 |
49,948 |
4.3% |
206,507 |
198,146 |
4.2% |
|
|
|
|
|
|
|
EBITDA |
3,803 |
4,950 |
-23.2% |
46,141 |
43,666 |
5.7% |
% total revenues |
1.9% |
2.9% |
|
6.4% |
6.9% |
|
|
|
|
|
|
|
|
EBIT |
-38,581 |
-31,943 |
-20.8% |
-111,818 |
-103,008 |
-8.6% |
% |
-19.0% |
-18.6% |
|
-15.5% |
-16.4% |
|
*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. |
Chile Operating Data (IFRS) |
|
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
6,174 |
5,537 |
11.5% |
Postpaid |
1,169 |
1,066 |
9.7% |
Prepaid |
5,005 |
4,471 |
12.0% |
MOU |
215 |
222 |
-3.3% |
ARPU (ChP) |
6,221 |
6,040 |
3.0% |
Churn (%) |
5.1% |
5.9% |
(0.9) |
Revenue Generating Units (RGUs)* |
1,071 |
1,030 |
3.9% |
* Fixed Line, Broadband and Television |
|
|
|
Ecuador
After adding 296 thousand wireless subscribers in the quarter—a third of which were postpaid—we finished December with 11.8 million clients in Ecuador, 6.3% more than a year before. Our postpaid base actually increased 22.9% in the year. On the fixed line front we had 248 thousand RGUs, 42.8% more a year before.
Fourth quarter revenues totaled 408 million dollars, 5.9% more than in the same quarter of 2011. Wireless service revenues increased 4.7% supported by data revenues that expanded 29.5%. ARPU was up 1.4% year-on-year reflecting the increased usage of value added services.
EBITDA for the quarter was 182 million dollars, slightly below that of the year-earlier quarter due to the costs associated to subscriber growth, especially on the postpaid segment.
Income Statement (IFRS) |
|
|
|
|
|
|
Ecuador |
||||||
Millions of Dollars |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
408 |
385 |
5.9% |
1,560 |
1,469 |
6.2% |
Wireless Revenues |
396 |
377 |
5.3% |
1,519 |
1,439 |
5.6% |
Service Revenues |
337 |
322 |
4.7% |
1,306 |
1,226 |
6.6% |
Equipment Revenues |
59 |
53 |
11.0% |
212 |
210 |
0.8% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
13 |
9 |
40.4% |
47 |
34 |
40.4% |
|
|
|
|
|
|
|
EBITDA |
182 |
184 |
-1.1% |
732 |
677 |
8.0% |
% total revenues |
44.7% |
47.9% |
|
46.9% |
46.1% |
|
|
|
|
|
|
|
|
EBIT |
136 |
142 |
-4.1% |
560 |
520 |
7.6% |
% |
33.3% |
36.8% |
|
35.9% |
35.4% |
|
*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. |
Ecuador Operating Data (IFRS) | |||
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
11,758 |
11,057 |
6.3% |
Postpaid |
2,036 |
1,657 |
22.9% |
Prepaid |
9,721 |
9,401 |
3.4% |
MOU |
158 |
168 |
-6.3% |
ARPU (Usd) |
10 |
10 |
1.4% |
Churn (%) |
1.6% |
2.6% |
(1.0) |
Revenue Generating Units (RGUs)* |
248 |
174 |
42.8% |
* Fixed Line, Broadband and Television |
Peru
We added 482 thousand clients in the quarter—half of which were postpaid—to finish the year with 12.9 million wireless subscribers. Our postpaid subscriber base rose 42.0% on an annual basis. On the fixed-line front RGUs rose 26.4% year-on-year to 873 thousand, with strong gains in telephony and broadband, up 71.9% and 39.9%, respectively, but with some losses of PayTV clients.
Revenues of 1.2 billion soles were 20.0% higher than those of a year before. Wireless service revenues were up 21.8% with data revenues expanding 37.8% over the year. ARPU was up 4.2% annually in spite of the rapid pace of subscriber growth. Fixed line revenues of 125 million soles were lower than in the same period of 2011, reflecting the decline in fixed-to-mobile rates in the annual comparison.
In spite of the fast pace of subscriber growth, EBITDA was up 33.0% on an annual basis to 544 million soles. Our margin came in at 45.6% of revenues, 4.5 percentage points greater than in the last quarter of 2011.
We have gained—in net terms—new clients that have switched to Claro thanks to mobile number portability.
Income Statement (IFRS) |
|
|
|
|
|
|
Perú |
||||||
Millones de Soles |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
1,192 |
993 |
20.0% |
4,364 |
3,737 |
16.8% |
Wireless Revenues |
1,067 |
859 |
24.2% |
3,883 |
3,266 |
18.9% |
Service Revenues |
896 |
735 |
21.8% |
3,291 |
2,789 |
18.0% |
Equipment Revenues |
153 |
132 |
16.0% |
556 |
471 |
18.1% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
125 |
134 |
-7.2% |
481 |
472 |
2.1% |
|
|
|
|
|
|
|
EBITDA |
544 |
409 |
33.0% |
1,866 |
1,581 |
18.0% |
% total revenues |
45.6% |
41.1% |
|
42.8% |
42.3% |
|
|
|
|
|
|
|
|
EBIT |
417 |
290 |
44.1% |
1,380 |
1,133 |
21.8% |
% |
35.0% |
29.1% |
|
31.6% |
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) |
|
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
12,881 |
11,254 |
14.5% |
Postpaid |
2,683 |
1,889 |
42.0% |
Prepaid |
10,198 |
9,365 |
8.9% |
MOU |
109 |
106 |
2.7% |
ARPU (Sol) |
24 |
23 |
4.2% |
Churn (%) |
3.5% |
3.0% |
0.5 |
Revenue Generating Units (RGUs)* |
873 |
690 |
26.4% |
* Fixed Line, Broadband and Television |
|
|
|
Central America and the Caribbean
Our operations in Central America and the Caribbean finished the year with a total of 21.1 million wireless subscribers, 14.0% more than a year before. Postpaid grew 18.8% in an annual fashion. Wireless net additions for the quarter were 831 thousand taking the total for the year to 2.6 million, more than doubling those of 2011. We also had 6.1 million RGUs, 4.9% more than the year before. Broadband was the fastest growing segment: 12.2% year-over-year.
The quarter’s revenue, 976 million dollars were 0.8% higher than in the same quarter of last year. Wireless service revenues were up 7.5% on an annual basis; those of our Central American operations posted a growth of 16.6% supported by data that shot up 42.7%. Altogether, we obtained fixed-line revenues of 408 million dollars; they were down 3.7% as a result of the decline in the revenues generated in the islands.
Our EBITDA of 278 million dollars was 8.6% higher than in the last quarter of 2011. The margin rose relative to that of a year before reflecting improvement in Central America and it stood at 28.5% of revenues.
In the fourth quarter, we launched 4G-LTE services in Puerto Rico.
Income Statement (IFRS) |
|
|
|
|
| |
Central America and The Caribbean |
||||||
Millions of Dollars |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
976 |
969 |
0.8% |
3,837 |
3,776 |
1.6% |
Wireless Revenues |
571 |
546 |
4.6% |
2,210 |
2,036 |
8.6% |
Service Revenues |
516 |
480 |
7.5% |
1,997 |
1,813 |
10.1% |
Equipment Revenues |
48 |
55 |
-13.4% |
175 |
176 |
-1.0% |
|
|
|
|
|
|
|
Fixed Line and Other Revenues |
408 |
424 |
-3.7% |
1,639 |
1,697 |
-3.4% |
|
|
|
|
|
|
|
EBITDA |
278 |
256 |
8.6% |
1,069 |
1,199 |
-10.9% |
% total revenues |
28.5% |
26.4% |
|
27.8% |
31.8% |
|
|
|
|
|
|
|
|
EBIT |
-12 |
29 |
-140.8% |
-76 |
287 |
-126.5% |
% |
-1.2% |
3.0% |
|
-2.0% |
7.6% |
|
*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) | |||
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
21,119 |
18,524 |
14.0% |
Postpaid |
2,876 |
2,421 |
18.8% |
Prepaid |
18,243 |
16,103 |
13.3% |
MOU |
203 |
205 |
-1.1% |
ARPU (US$) |
9 |
9 |
-7.4% |
Churn (%) |
3.6% |
4.4% |
(0.9) |
Revenue Generating Units (RGUs)* |
6,061 |
5,781 |
4.9% |
* Fixed Line, Broadband and Television |
|
|
|
United States
We finished December with 22.4 million subscribers after adding 753 thousand new clients in the fourth quarter, 52.8% more than in the same period of 2011. Our subscriber base had an annual increase of 13.3%.
Revenues shot up 30.8% to 1.4 billion dollars with ARPU rising 14.9% as our mix of commercial plans continued to shift towards StraightTalk plans and as data becomes more meaningful. Data revenues more than doubled over the period and now account for 36.1% of service revenues.
As a consequence of the acceleration of subscriber growth and the increased introduction of smartphones, EBITDA fell to 39 million dollars in the quarter, which represents 2.8% of revenues.
In October, TracFone launched its new brand Telcel America. It is aimed to the Hispanic community and includes unlimited calls to any number in Mexico.
Income Statement (IFRS) |
|
|
|
|
|
|
United States |
||||||
Millions of Dollars |
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - |
Jan - |
Var.% |
|
Dec 12 |
Dec 11 | ||||
Total Revenues |
1,355 |
1,036 |
30.8% |
4,799 |
3,817 |
25.7% |
Service Revenues |
1,188 |
917 |
29.5% |
4,294 |
3,434 |
25.1% |
Equipment Revenues |
168 |
119 |
41.1% |
505 |
383 |
31.8% |
|
|
|
|
|
|
|
EBITDA |
39 |
77 |
-49.6% |
507 |
334 |
52.0% |
% total revenues |
2.8% |
7.4% |
|
10.6% |
8.7% |
|
|
|
|
|
|
|
|
EBIT |
30 |
68 |
-56.5% |
474 |
304 |
55.9% |
% |
2.2% |
6.6% |
|
9.9% |
8.0% |
|
*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. |
United States Operating Data (IFRS) |
|
| |
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Wireless Subscribers (thousands) |
22,392 |
19,762 |
13.3% |
MOU |
508 |
396 |
28.3% |
ARPU (Usd) |
18 |
16 |
14.9% |
Churn (%) |
3.9% |
4.1% |
(0.2) |
Glossary of Terms
ARPU – Average Revenue per User. The ratio of service revenues in a given period to the average num- ber 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 telecommu- nications 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 commis- sions 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 |
|
| ||||
|
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - Dec 12 |
Jan - Dec 11 |
Var.% |
| ||||||
Mexico |
|
|
|
|
|
|
EoP |
13.01 |
13.99 |
-7.0% |
13.01 |
13.99 |
-7.0% |
Average |
12.94 |
13.61 |
-4.9% |
13.17 |
12.42 |
6.0% |
|
|
|
|
|
|
|
Brazil |
|
|
|
|
|
|
EoP |
2.04 |
1.88 |
8.9% |
2.04 |
1.88 |
8.9% |
Average |
1.97 |
1.80 |
9.2% |
1.93 |
1.67 |
15.3% |
|
|
|
|
|
|
|
Argentina |
|
|
|
|
|
|
EoP |
4.92 |
4.30 |
14.3% |
4.92 |
4.30 |
14.3% |
Average |
4.59 |
4.26 |
7.8% |
4.50 |
4.13 |
8.9% |
|
|
|
|
|
|
|
Chile |
|
|
|
|
|
|
EoP |
480 |
519 |
-7.6% |
480 |
519 |
-7.6% |
Average |
456 |
512 |
-10.9% |
481 |
484 |
-0.5% |
|
|
|
|
|
|
|
Colombia |
|
|
|
|
|
|
EoP |
1,768 |
1,943 |
-9.0% |
1,768 |
1,943 |
-9.0% |
Average |
1,806 |
1,920 |
-6.0% |
1,798 |
1,841 |
-2.4% |
|
|
|
|
|
|
|
Guatemala |
|
|
|
|
|
|
EoP |
7.90 |
7.81 |
1.2% |
7.90 |
7.81 |
1.2% |
Average |
7.88 |
7.82 |
0.7% |
7.83 |
7.79 |
0.6% |
|
|
|
|
|
|
|
Honduras |
|
|
|
|
|
|
EoP |
20.10 |
19.18 |
4.8% |
20.10 |
19.18 |
4.8% |
Average |
19.41 |
19.13 |
1.5% |
19.49 |
19.05 |
2.3% |
|
|
|
|
|
|
|
Nicaragua |
|
|
|
|
|
|
EoP |
24.13 |
22.97 |
5.0% |
24.13 |
22.97 |
5.0% |
Average |
23.98 |
22.84 |
5.0% |
23.54 |
22.42 |
5.0% |
|
|
|
|
|
|
|
Costa Rica |
|
|
|
|
|
|
EoP |
514 |
518 |
-0.8% |
514 |
518 |
-0.8% |
Average |
504 |
515 |
-2.1% |
508 |
511 |
-0.5% |
|
|
|
|
|
|
|
Peru |
|
|
|
|
|
|
EoP |
2.55 |
2.70 |
-5.4% |
2.55 |
2.70 |
-5.4% |
Average |
2.39 |
2.70 |
-11.4% |
2.59 |
2.75 |
-5.9% |
|
|
|
|
|
|
|
Paraguay |
|
|
|
|
|
|
EoP |
4,290 |
4,478 |
-4.2% |
4,290 |
4,478 |
-4.2% |
Average |
4,269 |
4,303 |
-0.8% |
4,384 |
4,187 |
4.7% |
|
|
|
|
|
|
|
Uruguay |
|
|
|
|
|
|
EoP |
19.40 |
19.90 |
-2.5% |
19.40 |
19.90 |
-2.5% |
Average |
18.85 |
19.93 |
-5.4% |
20.09 |
19.32 |
4.0% |
|
|
|
|
|
|
|
Dominican Republic |
|
|
|
|
|
|
EoP |
40.54 |
38.89 |
4.2% |
40.54 |
38.89 |
4.2% |
Average |
39.40 |
38.55 |
2.2% |
39.05 |
38.11 |
2.5% |
Exchange Rates Local Currency units per Mexican Peso |
| |||||
|
|
|
|
|
|
|
|
4Q12 |
4Q11 |
Var.% |
Jan - Dec 12 |
Jan - Dec 11 |
Var.% |
| ||||||
USA |
|
|
|
|
|
|
EoP |
0.08 |
0.07 |
7.5% |
0.08 |
0.07 |
7.5% |
Average |
0.08 |
0.07 |
5.2% |
0.08 |
0.08 |
-5.7% |
|
|
|
|
|
|
|
Brazil |
|
|
|
|
|
|
EoP |
6.37 |
7.46 |
-14.6% |
6.37 |
7.46 |
-14.6% |
Average |
6.58 |
7.56 |
-13.0% |
6.74 |
8.35 |
-19.4% |
|
|
|
|
|
|
|
Argentina |
|
|
|
|
|
|
EoP |
2.65 |
3.25 |
-18.6% |
2.65 |
3.25 |
-18.6% |
Average |
2.82 |
3.20 |
-11.8% |
2.89 |
3.39 |
-14.6% |
|
|
|
|
|
|
|
Chile |
|
|
|
|
|
|
EoP |
0.027 |
0.027 |
0.6% |
0.027 |
0.027 |
0.6% |
Average |
0.028 |
0.027 |
6.7% |
0.027 |
0.029 |
-6.5% |
|
|
|
|
|
|
|
Colombia |
|
|
|
|
|
|
EoP |
0.0074 |
0.0072 |
2.2% |
0.0074 |
0.0072 |
2.2% |
Average |
0.0072 |
0.0071 |
1.1% |
0.0072 |
0.0076 |
-4.7% |
|
|
|
|
|
|
|
Guatemala |
|
|
|
|
|
|
EoP |
1.65 |
1.79 |
-8.1% |
1.65 |
1.79 |
-8.1% |
Average |
1.64 |
1.74 |
-5.6% |
1.66 |
1.80 |
-7.5% |
|
|
|
|
|
|
|
Honduras |
|
|
|
|
|
|
EoP |
0.65 |
0.73 |
-11.3% |
0.65 |
0.73 |
-11.3% |
Average |
0.67 |
0.71 |
-6.3% |
0.67 |
0.73 |
-9.1% |
|
|
|
|
|
|
|
Nicaragua |
|
|
|
|
|
|
EoP |
0.54 |
0.61 |
-11.4% |
0.54 |
0.61 |
-11.4% |
Average |
0.54 |
0.60 |
-9.5% |
0.55 |
0.62 |
-11.4% |
|
|
|
|
|
|
|
Costa Rica |
|
|
|
|
|
|
EoP |
0.03 |
0.03 |
-6.3% |
0.03 |
0.03 |
-6.3% |
Average |
0.03 |
0.03 |
-2.9% |
0.03 |
0.03 |
-6.5% |
|
|
|
|
|
|
|
Peru |
|
|
|
|
|
|
EoP |
5.10 |
5.19 |
-1.7% |
5.10 |
5.19 |
-1.7% |
Average |
5.41 |
5.04 |
7.3% |
5.02 |
5.08 |
-1.2% |
|
|
|
|
|
|
|
Paraguay |
|
|
|
|
|
|
EoP |
0.0030 |
0.0031 |
-2.9% |
0.0030 |
0.0031 |
-2.9% |
Average |
0.0030 |
0.0032 |
-4.2% |
0.0030 |
0.0033 |
-11.2% |
|
|
|
|
|
|
|
Uruguay |
|
|
|
|
|
|
EoP |
0.67 |
0.70 |
-4.6% |
0.67 |
0.70 |
-4.6% |
Average |
0.69 |
0.68 |
0.5% |
0.65 |
0.72 |
-10.6% |
|
|
|
|
|
|
|
Dominican Republic |
|
|
|
|
|
|
EoP |
0.32 |
0.36 |
-10.8% |
0.32 |
0.36 |
-10.8% |
Average |
0.33 |
0.35 |
-7.0% |
0.33 |
0.37 |
-9.2% |
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.
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 |