America Movil (AMX) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 26, 2023 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. My name is Elliot, and I will be your conference operator today. At this time, I would like to welcome everyone to the America Movil First Quarter 2023 Conference Call and Webcast. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session [Operator Instructions].

Now I will turn the call over to Ms. Daniela Lecuona, Head of Investor Relations.

Daniela Lecuona

Thank you. Good morning, everyone. Thank you for joining us today to discuss our first quarter financial and operating results. We have on the line Mr. Daniel Hajj, CEO; Mr. Carlos Garcia Moreno, CFO, and Mr. Oscar Von Hauske, COO.

Daniel Hajj

Thank you, Daniela. Thank you, everyone for hosting the first quarter of ‘23 financial and operating report and Carlos is going to make a summary of the results. Go ahead, Carlos.

Carlos Moreno

Hello, everyone. Thank you, Daniel. Good morning. Throughout the first quarter dollar interest rate are volatile hovering between 3.4% and 4%, a sentiment in the U.S. has merit between relief and inflation are claiming they had come under control anguish from the potential inflationary consequences is what appeared to be an increasingly hot labor market and fear of contagion stemming from the fall of important banks in the U.S. and Europe.

The value of our upgrade currencies vis-a-vis the dollar reflected the volatility, although they all ended up at the same versus the dollar and [indiscernible]. It didn't pay for being the only exception, mostly compared to 2.5% in Brazilian real, 4% in Colombian peso, 4.7% and the euro 1.2%.

In the first quarter, we are at 1.1 million wireless subscribers, of which 1.9 million were postpaid clients. Almost half of the new postpaid shops mainly coming from the 4,000 came from Brazil to currently 5000 from Austria, 144,000 from Colombia, and 128,000 from Peru.

On our prepaid platform, we had net disconnections of 754,000 clients, as Brazil disconnected 1.4 million, including 1.6 million former Oi subs, and we're not generating traffic. Organically we have solid growth, including Columbia with 354,000, and Brazil and Argentina, with approximately 200,000 each.

On the fixed-line segment, we have 313,000 broadband accessories, including 139,000 in Mexico, 74,000 in Argentina, 47,000 in Brazil. In some of these countries, Mexico and Brazil, these were the best numbers that we have had before [indiscernible] in broadband for a long time.