América Mobe reported a 48% annual drop in its net usefulness of the fourth quarter of 2024, well below the analyst expectations.
Carlos Slim’s telecommunications group cited exchange losses, despite the increase in their income.
The company attributed the fall to “a higher integral financing cost, almost half of which was associated with exchange losses.”
The company operates in more than 20 countries in Europe and Latin America. In Mexico, its local market that contributed around 35% of the income, the peso closed 2024 more than 20% weakest against the US dollar compared to the previous year.
The company reported profits for 9,480 million pesos (453 million dollars), well below the average estimate of analysts surveyed by LSEG, who had predicted more than double that figure in net gains called dollars, with 1.15 billion.
The income reached 236,940 million pesos (11,350 million dollars), a 18% increase at an annual rate, although slightly below the LSE forecast of 11,410 million dollars.
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América Móvil said that the growth of its income was largely due to a new accounting methodology in its operations in Argentina, a country that closed last year with an inflation of 118%.
Excluding Argentina, the company indicated that income would still have increased by 10% in terms of Mexican pesos, thanks in part to the consolidation of its operations in Chile.
América Móvil said that their profits before interest, taxes, depreciation and amortization (EBITDA) increased around 16% to 91,110 million pesos.
The company added 2.1 million postpaago net customers in the quarter, promoted by profits in Ecuador and Central America, and about 320,000 new broadband clients.
With Reuters information
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