Form 6-K

 

 

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 April 2010

Commission file number: 1-16269

 

 

AMÉRICA MÓVIL, S.A.B. DE C.V.

(Exact name of registrant as specified in its charter)

 

 

America Mobile

(Translation of Registrant’s name into English)

Lago Alberto 366, Colonia Anáhuac, 11320 México, D.F., México

(Address of principal executive offices)

 

 

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 the 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 the 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 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 FIRST QUARTER OF 2010

FINANCIAL AND OPERATING REPORT

Mexico City, April 29, 2010 - 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 first quarter of 2010.

 

   

In the first quarter of 2010 América Móvil added 5.5 million subscribers—41.3% more than last year—bringing to 206.4 million our wireless subscriber base. Our Brazilian operations gained 1.2 million subscribers, followed by Mexico, with 1.1 million and Tracfone in the US with just over a million. Several operations recorded higher subscriber gains than last year.

 

   

We had 3.8 million landlines in Central America and the Caribbean at the end of the quarter, for a total of 210.2 million lines in the Americas. Wireless penetration is estimated to have reached 92% in our region of operations (excluding the U.S.) at the end of March.

 

   

First quarter revenues of 98.7 billion pesos were up 9.8% year-on-year. Data revenues continued to grow rapidly and have reached 21.3% of service revenues. ARPUs increased in several countries.

 

   

Operating income grew 11.1% to 29.4 billion pesos. They were equivalent to nearly 30% of revenues.

 

   

Due to our lower level of net debt and substantial foreign exchange gains, our comprehensive financing cost came down by 38.2%.

 

   

We generated a net income of 16.9 billion pesos that was equivalent to 52 peso cents per share and 82 dollar cents per ADR.

 

   

Our net debt came down by 17.2 billion pesos in the quarter to 66.4 billion pesos in March. Our capital outlays totaled 10.8 billion pesos, half of which was linked to capital expenditures and the rest to share buybacks.

 

   

Our shareholders’ assembly on April 7th approved the payment of a 32 peso cents dividend per share. The dividend will be paid in equal installments in July and November. The assembly also approved the increase of 50 billion pesos in our fund for share buybacks.


América Móvil Fundamentals

Mexican Pesos

 

     1Q10    1Q09    Var. %  

EPS (Mex$)*

   0.52    0.50    4.7

Earning per ADR (US$)**

   0.82    0.71    15.5

Net Income (millions of Mex$ )

   16,874    16,560    1.9

Operating Income (millions of Mex$)

   29,398    26,470    11.1
                

Shares Outstanding as of March 31th (billion)

   32.11    32.95    -2.6

ADRs Outstanding as of March 31th (millions) ***

   575    627    -8.3

 

* Net Income / Total Shares outstanding
** 20 shares per ADR
*** As per Bank of NY Mellon

Relevant Events

Beginning January 1st, 2010 América Móvil’s financial statements will be presented in accordance to International Financial Reporting Standards (IFRS) both at the consolidated and subsidiary levels. The move towards IFRS is mandatory for all Mexican listed companies, which are obliged to adopt them by January 1st, 2012 at the latest. The main change regarding the income statement is that revenues are now presented net of commissions to postpaid distributors and the cost of loyalty programs. All the information in this report, including the figures for the first quarter of 2009, was prepared under IFRS.

In March both Moody’s and Standard and Poor’s upgraded by one notch América Móvil’s credit ratings, to A2 and A- respectively. Fitch rates América Móvil at A-. All the agencies have our ratings today under a stable outlook.

Taking advantage of favorable market conditions, in March we placed 4 billion dollars of securities in an offering comprising five, ten and thirty-year notes in the U.S. market. This was the largest issue to date by a private sector company in the emerging markets space. Earlier in the quarter, we had issued debt securities in Mexico and Switzerland in the amount of 1.4 billion dollars equivalent.

América Móvil Subsidiaries & Affiliates as of March 2010

 

Country

  

Company

  

Business

   Equity
Participation
   

Consolidation Method

Subsidiaries

   -    Mexico    Telcel    wireless    100.0   Global Consolidation Method
   -    Argentina    Claro    wireless    100.0   Global Consolidation Method
   -    Brazil    Claro    wireless    99.4   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    99.4   Global Consolidation Method
   -    Nicaragua    Claro    wireless, wireline    99.5   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    Telvista    other    45.0   Equity Method


Subscribers

We added 5.5 million subscribers—14.6% of them postpaid clients—in the first quarter of 2010, 41.3% more than in the same period of the prior year, as we continued with our focus on higher value clients. Brazil, Chile, Argentina, Colombia, Ecuador, Peru, Central America, and Tracfone, in the US all obtained higher net additions than in 2009. We finished the period with 206.4 million wireless subscribers, 10.6% more than a year before. In addition to these, we had 3.8 million fixed lines in Central America and the Caribbean taking the total to 210.2 million lines in the Americas.

Brazil came in first in terms of net adds with 1.2 million, followed closely by Mexico with 1.1 million subscribers and Tracfone, with just over one million subs. Our operations in Argentina and Peru both added close to 450 thousand subscribers, while Colombia gained 381 thousand new clients.

As of March we had 60.3 million subscribers in Mexico, 45.6 million in Brazil, 28.1 million in Colombia and 17.4 million in Argentina. Amongst the large Latin-American countries, Brazil grew the fastest in relative terms (15.1% year-on-year), followed by Argentina (10.1%), México (4.7%) and Colombia (4.1%). The most dynamic growth was observed in the US, where Tracfone’s subscriber base expanded by 31.4% year-on-year.

Wireless penetration is estimated to have reached nearly 92% in our region of operations (excluding the U.S.) at the end of the quarter.

Subscribers as of March 2010

Thousands

 

     Total(1)  

Country

   Mar’10    Dec’09    Var.%     Mar’09    Var.%  

Mexico

   60,265    59,167    1.9   57,533    4.7

Brazil

   45,583    44,401    2.7   39,587    15.1

Chile

   3,769    3,597    4.8   3,080    22.4

Argentina, Paraguay and Uruguay

   18,686    18,236    2.5   17,066    9.5

Colombia and Panama

   28,160    27,797    1.3   26,949    4.5

Ecuador

   9,782    9,449    3.5   8,613    13.6

Peru

   8,741    8,311    5.2   7,487    16.8

Central America

   9,735    9,535    2.1   9,213    5.7

Caribbean

   6,256    6,052    3.4   5,296    18.1

USA

   15,452    14,427    7.1   11,759    31.4
                           

Total Wireless

   206,429    200,972    2.7   186,586    10.6
                           

Central America

   2,268    2,259    0.4   2,251    0.8

Caribbean

   1,515    1,531    -1.0   1,590    -4.7
                           

Total Fixed

   3,783    3,789    -0.1   3,841    -1.5
                           

Total Lines

   210,213    204,761    2.7   190,427    10.4
                           

 

(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

With the economic recovery throughout the Americas helping to reaccelerate consumer spending and subscriber growth, and with the secular trend towards the increased use of data services still very much in evidence, América Móvil´s operations exhibited a strong performance in the first quarter.

First quarter revenues—now presented under International Financial Reporting Standards (IFRS) for both 2010 and 2009—rose 9.8% from a year before to 98.7 billion pesos, with equipment revenues increasing 15.1% buoyed by the fast pace of net subscriber additions and service revenues climbing 9.2%. The latter figure would have been a point higher had the exchange rates remained constant throughout the quarter, which speaks to the strength of revenue growth in local currencies. Data services continued to increase their share of service revenues, which hit 21.3% in the quarter vs. 16.4% in the year-earlier quarter.

Depreciation and amortization charges totaled 13.0% of revenues, having risen 15.7% from a year before mostly as a result of faster depreciation of network equipment in Brazil. Operating income increased 11.1% to 29.4 billion pesos, a figure that was just shy of 30% of revenues.

America Movil’s Income Statement (IFRS)

Millions of MxP

 

     1Q10     1Q09     Var.%  

Net Service Revenues

   87,641      80,279      9.2

Equipment Revenues

   11,039      9,588      15.1
                  

Total Revenues

   98,680      89,867      9.8

Cost of Service

   23,178      20,637      12.3

Cost of Equipment

   17,958      17,474      2.8

Selling, General & Administrative Expenses

   14,123      13,141      7.5

Others

   1,136      1,012      12.3
                  

Total Costs and Expenses

   56,396      52,263      7.9

Depreciation & Amortization

   12,886      11,133      15.7

Operating Income

   29,398      26,470      11.1

% of Total Revenues

   29.8   29.5  
                  

Net Interest Expense

   1,336      1,659      -19.5

Other Financial Expenses

   2,864      -594      n.m.   

Foreign Exchange Loss

   -2,165      2,229      -197.1
                  

Comprehensive Financing Cost (Income)

   2,036      3,295      -38.2

Income & Deferred Taxes

   10,485      6,656      57.5
                  

Net Income before Minority Interest and Equity

   16,878      16,519      2.2

Participation in Results of Affiliates

      

minus

      

Equity Participation in Results of Affiliates

   11      60      -81.3

Minority Interest

   -15      -19      19.8
                  

Net Income

   16,874      16,560      1.9
                  

n.m. Not meaningful


Balance Sheet (in accordance with IFRS)

América Móvil Consolidated

Millions of Mexican Pesos

 

     Mar ‘10    Dec ‘09    Var.%          Mar ‘10    Dec ‘09    Var.%  

Current Assets

          

Current Liabilities

     

Cash & Securities

   114,017    27,446    315.4  

Short Term Debt**

   7,347    9,168    -19.9

Accounts Receivable

   50,556    55,927    -9.6  

Accounts Payable

   89,269    95,924    -6.9

Other Current Assets

   7,940    3,189    149.0  

Other Current Liabilities

   36,907    35,642    3.5
                           

Inventories

   19,677    21,536    -8.6      133,523    140,734    -5.1
                           
   192,190    108,098    77.8           

Non Current Assets

                   

Plant & Equipment

   210,017    224,740    -6.6           

Investments in Affiliates

   969    975    -0.6  

Non Current Liabilities

     
          

Long Term Debt

   173,066    101,741    70.1
          

Other Non Current Liabilities

   25,791    25,233    2.2
                           

Deferred Assets

              198,857    126,975    56.6

Goodwill (Net)

   45,861    45,805    0.1           

Intangible

   41,436    45,822    -9.6           

Deferred Assets

   22,083    21,170    4.3  

Shareholder’s Equity

   180,175    178,901    0.7
                                   

Total Assets

   512,555    446,610    14.8  

Total Liabilities and Equity

   512,555    446,610    14.8
                                   

 

** Includes current portion of Long Term Debt

Our comprehensive financing costs totaled 2.0 billion pesos, having come down by 38.2% from the previous year as a result of a lower level of net debt and foreign exchange gains stemming mostly from the appreciation of the Mexican peso vs. the dollar.

We obtained net income of 16.9 billion pesos in the quarter, slightly higher than the one seen a year before. It was equivalent to 52 peso cents per share and 82 dollar cents per ADR. These figures were up 4.7% and 15.5% year-on-year.

Our net debt came down by 17.2 billion pesos in the quarter to 66.4 billion pesos, even after capital expenditures and share repurchases of 5.4 billion pesos each.

By the end of March, we had finished approximately 95% of the international transport network for voice and data we have been building in various countries. This new network will allow us to improve the quality and the cost of various services, particularly as regards long distance and data traffic.

Financial Debt of América Móvil*

Millions of U.S. Dollars

 

     Mar-10    Dec-09

Peso Denominated Debt

   3,315    2,019

Bonds and other securities

   3,315    2,019

Banks and others

   0    0

U.S. Dollar—denominated debt

   8,618    4,365

Bonds and other securities

   7,952    3,952

Banks and others

   666    413

Debt denominated in other currencies

   2,541    2,109

Bonds and other securities

   665    788

Banks and others

   1,877    1,321
         

Total Debt

   14,475    8,493

Short term debt and current portion of long-term debt

   589    702

Long-term debt

   13,885    7,791

 

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


Mexico

Net subscriber additions came in at 1.1 million in the first quarter, with postpaid subs accounting for a quarter of them. At the end of March we had 60.3 million subs in Mexico, 4.7% more than in the year-earlier quarter.

First quarter revenues expanded 10.3% annually to 35.2 billion pesos, with equipment revenues jumping 24.1% and service revenues rising 7.9% on the back of data revenues that soared 28.7% as the demand for data services continues to take hold. ARPU was up 3.1% to 163 from 158 the previous year. The average price per minute declined 9.5% year-on-year to 4.8 dollar cents, helping bring about an 8.3% increase in MOUs; for the first time they broke through 200 minutes per month.

In March, Teligen, the company that acts as the database provider of the OECD on telecom pricing, released its Teligen Baskets report—the one on which the OECD’s analysis are based—with information as of February 2010. According to this report, in the case of the OECD´s prepaid basket Telcel’s plans are the second cheapest in US dollar terms among the 30 countries that make up that Organization and the seventh cheapest in the OECD’s PPP units (Purchasing Power Parity). Approximately 91% of Telcel’s subscribers are prepaid customers.

On April 10th the period set by Cofetel for the registry of wireless subscribers expired. On acount of existing regulations, Telcel had to proceed with the suspension of service to those subscribers that had not yet registered. However, this requirement has been temporarily waived so as to not affect the communications services of many of our clients. Telcel remains fully supportive of the regulation and is actively reminding its clients that they need to register. To date, the majority of Telcel’s clients have already registered.

INCOME STATEMENT (IFRS)

Mexico

Millions of MxP

 

     1Q10     1Q09     Var.%  

Revenues

   35,194      31,905      10.3

Operating Income

   17,961      16,251      10.5

%

   51.0   50.9  

Mexico Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   60,265      57,533      4.7

Postpaid

   5,491      4,346      26.3

Prepaid

   54,774      53,187      3.0

MOU

   201      185      8.3

ARPU (MxP)*

   163      158      3.1

Churn (%)

   3.2   3.1   0.0   

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 174 pesos and 168 pesos for 1Q10 and 1Q09, respectively


Argentina, Paraguay & Uruguay

Our combined subscriber base in Argentina Paraguay and Uruguay ended the quarter with 18.7 million subscribers. It was up 9.5% in annual terms. Net additions came in at 451 thousand, of which 27% were postpaid. Argentina has the highest penetration rate in the Americas: it is estimated to have reached 126% at the end of March. This notwithstanding, our net additions in Argentina were still higher than those of a year ago.

Revenues for the quarter, 2.2 billion Argentinean pesos, were 18.3% greater than those of 2009, as service revenues expanded 23.0% in the period. The dynamism of data revenues continued as they climbed 18.7% on an annual basis fueling a 12.8% increase in ARPU year-on-year: The latter also benefited from an important increase in voice revenues.

INCOME STATEMENT (IFRS)

Argentina, Uruguay & Paraguay

Millions of ARP

 

     1Q10     1Q09     Var.%  

Revenues

   2,184      1,846      18.3

Operating Income

   768      479      60.1

%

   35.1   26.0  

Argentina, Uruguay & Paraguay Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   18,686      17,066      9.5

Postpaid

   2,441      2,205      10.7

Prepaid

   16,246      14,862      9.3

MOU

   130      134      -2.4

ARPU (ARP)*

   35      31      12.8

Churn (%)

   1.9   2.2   (0.3

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 38 Argentinean pesos and 34 Argentinean pesos for 1Q10 and 1Q09, respectively.


Brazil

We gained 1.2 million clients in Brazil in the first quarter, 38.2% more than in the same period of 2009, to finish the quarter with 45.6 million subs, which represents an increase of 15.1% year-on-year.

Revenues of 2.8 billion reais exceeded by 3.3% those of the year-earlier quarter. Service revenues rose at a somewhat faster rate on the back of a 44.4% increase in data revenues which helped compensate a slight reduction in voice revenues. ARPU fell 8.7% to 20 reais, partly as a result of prices per minute falling 19.6%

INCOME STATEMENT (IFRS)

Brazil

Millions of BrL

     1Q10     1Q09     Var.%  

Revenues

   2,769      2,681      3.3

Operating Income

   182      220      -17.6

%

   6.6   8.2  

Brazil Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   45,583      39,587      15.1

Postpaid

   8,758      8,148      7.5

Prepaid

   36,825      31,439      17.1

MOU

   92      85      8.2

ARPU (BrL)*

   20      22      -8.7

Churn (%)

   2.8   2.5   0.3   

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 20 reais and 23 reais for 1Q10 and 1Q09, respectively.


Chile

At 171 thousand, our net additions in the first quarter more than doubled those of the year-earlier quarter bringing to 3.8 million our subscriber base. Whereas the latter expanded by 22.4% in annual terms, our postpaid subscriber base increased 42.7%. Approximately one fourth of the net additions of the quarter were postpaid.

Revenues were up 23.1% from a year before to 72.2 billion Chilean pesos. Service revenues expanded 13.8% in the period as data revenues nearly doubled.

On February 7th Chile was struck by an earthquake that produced severe damages in the country. We were able to restore communications in a relatively short period of time.

INCOME STATEMENT (IFRS)

Chile

Millions of ChP

     1Q10     1Q09     Var.%  

Revenues

   72,158      58,641      23.1

Operating Income

   -9,695      -9,723      0.3

%

   -13.4   -16.6  

Chile Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   3,769      3,080      22.4

Postpaid

   571      400      42.7

Prepaid

   3,198      2,679      19.3

MOU

   170      142      19.3

ARPU (ChP)*

   5,122      5,350      -4.3

Churn (%)

   3.9   3.5   0.4   

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 6,048 Chilean pesos and 6,263 Chilean pesos for 1Q10 and 1Q09, respectively.


Colombia and Panama

We finished the quarter with 28.2 million subscribers in Colombia-Panama after adding 363 thousand new clients in those countries. Postpaid net additions were 54.4% greater than those gained in the first quarter of 2009 and represent a fifth of the period’s net adds. Our subscriber base was up 4.5% relative to last year.

We generated revenues of 1.5 trillion Colombian pesos in the first quarter that were flat year-on-year. Data continues to gain traction with revenue growth of 92.7% from the prior year. Our average price per minute of voice came down by 20.7% and was not fully compensated by the associated 14.8% increase in MOUs, but the ARPU remained firm thanks to the great growth of data revenues.

INCOME STATEMENT (IFRS)

Colombia and Panama

Billions of COP

     1Q10     1Q09     Var.%  

Revenues

   1,463      1,463      0.0

Operating Income

   542      460      17.9

%

   37.0   31.4  

Colombia and Panama Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   28,160      26,949      4.5

Postpaid

   4,039      3,699      9.2

Prepaid

   24,121      23,250      3.7

MOU

   186      162      14.8

ARPU (COP)*

   15,707      15,955      -1.5

Churn (%)

   3.5   3.4   0.1   

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 16,545 Colombian pesos and 16,700 Colombian pesos for 1Q10 and 1Q09, respectively


Ecuador

After adding 333 thousand new subscribers in the first quarter of the year—7.8% more than in the prior year—our subscriber base reached almost 10 million, a 13.6% increase over the previous year. Postpaid subs increased somewhat more rapidly (16.1%).

Our first quarter revenues, 286 million dollars, were up 8.7% year-over-year, with service revenues rising 10.4%. Data revenues increased 31.9% and now account for just over a fourth of service revenues. The average price per minute of voice came down sharply (27.8%) helping bring about a 27.8% increase in minutes of use per subscriber.

INCOME STATEMENT (IFRS)

Ecuador

Millions of Dollars

     1Q10     1Q09     Var.%  

Revenues

   286      263      8.7

Operating Income

   102      88      16.4

%

   35.7   33.3  

Ecuador Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   9,782      8,613      13.6

Postpaid

   1,119      964      16.1

Prepaid

   8,663      7,649      13.2

MOU

   106      83      27.8

ARPU (US$)*

   8      9      -2.7

Churn (%)

   1.5   1.4   0.1   

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 9 dollars and 9 dollars for 1Q10 and 1Q09, respectively.


Peru

Net additions for the quarter, 430 thousand, exceeded by almost 40% those of a year ago. They brought our subscriber base to 8.7 million subscribers, which represented a 16.8% increase year-on-year.

Revenues reached 654 million soles in the first three months of the year. They were up 19.4% from a year before on the back of service revenues that jumped 22.7%, led by data revenues that expanded 73.6%. The growth of data revenues was key in bringing about a 5.9% jump in ARPU.

Few months after number portability was implemented in Peru, Claro is a net gainer of ported numbers by a wide margin.

INCOME STATEMENT (IFRS)

Peru

Millions of Soles

 

      1Q10     1Q09     Var.%  

Revenues

   654      548      19.4

Operating Income

   221      133      65.9

%

   33.8   24.3  

Peru Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   8,741      7,487      16.8

Postpaid

   950      833      14.1

Prepaid

   7,791      6,654      17.1

MOU

   95      112      -14.6

ARPU (Sol)*

   22      21      5.9

Churn (%)

   2.7   3.2   (0.5

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 22 soles and 21 soles for 1Q10 and 1Q09, respectively.


Central America

Our combined subscriber base in Central America ended March with 9.7 million subscribers after gaining 200 thousand new clients in the period. Net additions more than tripled as compared to those of last year. We also had a total of 2.3 million landlines in this region.

First quarter revenues came in at 332 million dollars, slightly less than in the year-earlier quarter, with wireless service revenues staying firm in spite of the significant reduction in the average revenue per minute (-22.9%) thanks to data revenue growth.

INCOME STATEMENT (IFRS)

Central America Consolidated

Millions of Dollars

 

     1Q10     1Q09     Var.%  

Revenues

   332      342      -2.9

Operating Income

   47      59      -20.6

%

   14.0   17.2  

Central America Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   9,735      9,213      5.7

Postpaid

   473      436      8.6

Prepaid

   9,262      8,777      5.5

Fixed Lines (thousands)

   2,268      2,251      0.8
                  

Total Lines (Wireless + Fixed, 000’s)

   12,004      11,463      4.7

MOU

   126      106      18.8

ARPU (US$)*

   6      6      -5.0

Churn (%)

   2.2   2.2   0.0   

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 6 dollars and 6 dollars for 1Q10 and 1Q09, respectively.


Caribbean

Our subscriber base ended March with 6.3 million subscribers—it was up 18.1% year-over-year—after adding 203 thousand subs in the first quarter. Postpaid net adds were nearly 3 times as high as those of the same period of the precedent year although total net additions were down partly on account of the high penetration rate already attained in the region.

At 524 million dollars first quarter revenues were flat year-on-year, with service revenues declining only slightly in the face of a marked reduction (25.8%) in prices per minute. Wireless revenues kept on expanding their share of service revenues, as did data revenues, which shot up nearly 50% over the prior year.

INCOME STATEMENT (IFRS)

Caribbean Consolidated

Millions of Dollars

 

     1Q10     1Q09     Var.%  

Revenues

   524      524      0.0

Operating Income

   51      12      333.0

%

   9.8   2.3  

Caribbean Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   6,256      5,296      18.1

Postpaid

   1,338      977      36.9

Prepaid

   4,917      4,319      13.9

Fixed Lines (thousands)

   1,515      1,590      -4.7
                  

Total Lines (Wireless + Fixed, 000’s)

   7,771      6,886      12.8

MOU

   291      239      21.8

ARPU (US$)*

   12      13      -7.1

Churn (%)

   5.2   3.9   1.3   

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 13 dollars and 13 dollars for 1Q10 and 1Q09, respectively.


United States

Our operation in the U.S. exhibited the fastest pace of subscriber growth among our operations. Net additions for the quarter, one million, were 80.8% higher than those of a year before, leading our subscriber base to 15.5 million clients at the end of the period. This is a 31.4% increase over the year-earlier quarter.

First quarter revenues reached a record high of 605 million dollars, having increased 60.5% in annual terms. Our new product, StraightTalk, and the commercial efforts made to strengthen our other brands helped bring about a 45.1% increase in service revenues. MOUs more than doubled in the period, with the ARPU climbing 11.2% from a year before.

INCOME STATEMENT (IFRS)

United States

Millions of Dollars

 

     1Q10     1Q09     Var.%  

Revenues

   605      377      60.5

Operating Income

   70      67      4.5

%

   11.6   17.8  

United States Operating Data

 

     1Q10     1Q09     Var.%  

Wireless Subscribers (thousands)

   15,452      11,759      31.4

MOU

   153      74      106.5

ARPU (US$)*

   11      10      11.2

Churn (%)

   3.6   4.0   (0.4

 

* These figures are presented under IFRS. Under local GAAP, ARPUs would have been 11 dollars and 10 dollars for 1Q10 and 1Q09, respectively.


Exchange Rates Vs Usd

 

     1Q10    1Q09    Var.%  

Mexico

        

EoP

   12.46    14.33    -13.0

Average

   12.80    14.12    -9.4

Brazil

        

EoP

   1.78    2.32    -23.1

Average

   1.80    2.23    -19.3

Argentina

        

EoP

   3.88    3.72    4.2

Average

   3.84    3.49    10.0

Chile

        

EoP

   524    583    -10.1

Average

   519    607    -14.5

Colombia

        

EoP

   1,929    2,561    -24.7

Average

   1,948    2,412    -19.3

Guatemala

        

EoP

   7.99    8.11    -1.6

Average

   8.19    7.95    2.9

Honduras

        

EoP

   19.03    19.03    0.0

Average

   19.03    19.03    0.0

Nicaragua

        

EoP

   21.09    20.09    5.0

Average

   20.97    19.97    5.0

Peru

        

EoP

   2.84    3.16    -10.1

Average

   2.85    3.14    -9.2

Paraguay

        

EoP

   4,698    5,100    -7.9

Average

   4,681    5,062    -7.5

Uruguay

        

EoP

   19.46    24.07    -19.2

Average

   19.65    22.40    -12.2

Dominican

        

EoP

   36.48    35.97    1.4

Average

   36.34    34.00    6.9

Jamaica

        

EoP

   89.51    88.82    0.8

Average

   89.69    84.99    5.5


Exchange Rates Vs mexican peso

 

     1Q10    1Q09    Var.%  

USA

        

EoP

   0.08    0.07    15.0

Average

   0.08    0.07    10.4

Brazil

        

EoP

   7.00    6.19    13.1

Average

   7.10    6.32    12.3

Argentina

        

EoP

   3.21    3.85    -16.6

Average

   3.33    4.05    -17.7

Chile

        

EoP

   0.024    0.025    -3.3

Average

   0.025    0.023    6.0

Colombia

        

EoP

   0.0065    0.0056    15.5

Average

   0.0066    0.0059    12.2

Guatemala

        

EoP

   1.56    1.77    -11.6

Average

   1.56    1.78    -12.0

Honduras

        

EoP

   0.66    0.75    -13.0

Average

   0.67    0.74    -9.4

Nicaragua

        

EoP

   0.59    0.71    -17.2

Average

   0.61    0.71    -13.7

Peru

        

EoP

   4.39    4.53    -3.3

Average

   4.49    4.50    -0.2

Paraguay

        

EoP

   0.0027    0.0028    -5.6

Average

   0.0027    0.0028    -2.0

Uruguay

        

EoP

   0.64    0.60    7.6

Average

   0.65    0.63    3.2

Dominican

        

EoP

   0.34    0.40    -14.2

Average

   0.35    0.42    -15.2

Jamaica

        

EoP

   0.14    0.16    -13.7

Average

   0.14    0.17    -14.1


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: April 30, 2010

 

AMÉRICA MÓVIL, S.A.B. DE C.V.
By:   /S/    CARLOS GARCÍA MORENO        
Name:   Carlos García Moreno
Title:   Chief Financial Officer

 

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