The following is a summary of the América Móvil S.A.B. De C.V. (AMX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• América Móvil has invested around $25 billion in the past three years mainly on 4G, 4.5G, and 5G infrastructure upgrade. It plans to reduce this year's CapEx to $7 billion from last year's $8.6 billion.

• The company experienced growth in Argentina, despite inflation, due to price increases.

• Significant growth in the postpaid business segment was seen in Mexico during 2023.

• The company had a net addition of 3.9 million wireless subscribers in the quarter, including 2.7 million postpaid clients and 1.3 million prepaid clients.

• Service revenue increased by 3.7% with mobile service revenue expanding 4.2%. However, the inclusion of Argentina's financial figures led to a decrease in revenue by 3.7 billion Pesos and EBITDA reduction of 1.4 billion pesos.

Business Progress:

• The company embarked on an expansive 5G rollout in Brazil and Mexico, covering over 200 and 120 cities respectively.

• Positive revenue growth resulted from increased investment in capacity, data centers, and B2B growth.

• Market share in Brazil increased due to the consolidation of all oil subscribers.

• Upgrades in 5G service subscriptions led to an increase in Average Revenue Per User (ARPU).

• The company foresees strong growth in the fixed broadband segment, post enhanced digitalization and network improvements.

• Plans are underway to continue investment in Colombia and Argentina despite regulatory changes and potential economic adversities.

• The company aims to finance more handsets, thus creating a new business avenue by aiding customers to acquire better or 5G handsets.

• In Mexico, 81% of customers have been migrated to fiber connections, improving their experience through new installation and repair processes.

• There are no current plans for M&A as the firm aims to maintain a net debt to EBITDA ratio between 1.3x and 1.5x. Surplus cash flow will be returned to shareholders.

• A Global Peso Notes program has been launched to attract both global and international investors. The company plans to re-enter the international market with Peso Notes at least once more this year.

More details: America Movil SAB de CV IR

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