América Móvil [AMX] Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 15, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. My name is Nadia, and I will be your conference operator today. At this time, I would like to welcome everyone to the América Móvil Fourth Quarter 2022 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] Thank you.

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 fourth quarter 2022 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. Welcome everyone. In the fourth quarter 2022 financial and operating report. And Carlos is going to make the summary of the results. Back to Carlos.

Carlos Moreno

Thank you, Daniel. Good morning, everyone. Well, at the beginning of the fourth quarter, uncertainty about inflation and how much bringing it down would require in terms of additional interest rate hikes by the Fed drove long term interest rates in the US to the peak for the year in October at 4.2%. They remain very volatile the rest of the quarter, ending the year at 3.7%. Nonetheless, the impression they had peaked ended up helping several currencies in the region, particularly the Mexican peso and the Chilean peso which appreciated sharply vis-à-vis the dollar with the Colombian peso stopping and then reverting slightly decline of several months. Throughout the period, the Brazilian real remained quite volatile and with no upper end trend as the country was in the midst of election. We added 3.3 million wireless subscribers in the quarter of which 1.5 million were postpaid clients. Brazil led the way with 600,000 subs followed by Australia with 232,000 and Colombia with 160,000. Our net gains in prepaid 1.8 million with Mexico contributing over half of that figure with 9,750 subscribers along that came next with 546,000 and then Central America with 247,000. On the fixed-line platform, we obtained a 110,000 new broadband access. Argentina and Eastern Europe generated substantially all of them 69,000 and 40,000 respectively. Central America, the Dominican Republic and Brazil added close to 30,000 each one. Pay TV reverted the losses of several over the last several years with 97,000 new clients.