América Móvil, S.A.B. de C.V. (AMX) 6-K Current report (foreign)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF A FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October, 2023

Commission File Number: 1-16269

AMÉRICA MÓVIL, S.A.B. DE C.V.

(Exact Name of the Registrant as Specified in the Charter)

America Mobile

(Translation of Registrant’s Name into English)

Lago Zurich 245

Plaza Carso / Edificio Telcel, Piso 16

Colonia Ampliación Granada, Miguel Hidalgo

11529 Mexico City, Mexico

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   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): ☐

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): ☐

  

Mexico City - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the third quarter of 2023.

• We added 3.0 million wireless subscribers in the third quarter, including 2.0 million postpaid clients over half of which came from Brazil. Austria contributed 406 thousand postpaids—including IoT devices—Colombia 104 thousand and Mexico 93 thousand. Organically, our postpaid base was up 3.7% year-on-year to 119 million subscribers.

• In the prepaid segment we added 950 thousand subscribers. Our Eastern European block contributed 204 thousand net adds, Brazil 193 thousand, Colombia 173 thousand and Argentina 93 thousand.

• On the fixed-line platform we obtained 223 thousand broadband accesses, including 65 thousand in Argentina, 64 thousand in Brazil and 30 thousand in Central America, bringing the total to 31.6 million accesses, 3.2% more than a year before.

• Third quarter revenue, 203.8 billion pesos, was down 3.3% year-on-year in nominal peso terms reflecting the appreciation of the Mexican peso vs all other currencies in our region of operations. At constant exchange rates service revenue increased 3.8%.

• Fixed-line service revenue was up 2.2% at constant exchange rates having risen from the 0.2% pace seen in the second half of last year. In several countries we had among the highest, if not the highest, net broadband additions in the past three years. Others, including Mexico, posted their most rapid broadband revenue growth in at least one year

• Mobile service revenue was up 4.8% year-on-year at constant exchange rates with postpaid revenue rising 6.0% and prepaid revenue 2.9%.

• EBITDA came in at 79.9 billion pesos, down 3.6% annually in nominal peso terms. At constant exchange rates, EBITDA was up 5.0%. Adjusting for the sale of towers in Mexico and Peru during the quarter and one-off events in Austria, it rose 3.9%. The EBITDA margin for the quarter stood at 39.2%.

• Our operating profit totaled 41.5 billion pesos in the quarter. After comprehensive financing costs of 29.7 billion pesos—including 4.7 billion pesos impairment charge on our investment in the Claro/VTR JV— it resulted in a net profit of 2.0 billion pesos.

• Our cash flow plus 12.2 billion pesos in net financing enabled us to cover most of our capital expenditures of 100.2 billion pesos and shareholder distributions of 24.0 billion pesos.

• At the end of September our net debt-excluding leases-stood at 389.7 billion pesos. It was equivalent to a net debt-to-EBITDA ratio of 1.43.

Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary

We will host our conference call to discuss 3Q23 financial and operating results on October 18th at 9:00 am Mexico City time. To access the call please log on to www.americamovil.com/investors

  

América Móvil Fundamentals
	3Q23	3Q22
Earnings per Share (Mex$)(1)	0.03	0.28
Earning per ADR (US$)(2)	0.04	0.28
EBITDA per Share (Mex$)(3)	1.27	1.30
EBITDA per ADR (US$)	1.49	1.28
Net Income (millions of Mex$)	2,028	17,969
Average Shares Outstanding (billion)	63.1	63.8
Shares Outstanding End of Period (billion)	62.9	63.6

⁽¹⁾ Net Income / Average Shares Outstanding

⁽²⁾ 20 shares per ADR

⁽³⁾ EBITDA / Average Shares Outstanding

América Móvil’s Subsidiaries as of September 2023
Country	Brand	Main Activity	Equity
Mexico	Telcel	wireless	100.0%
	Telmex	wireline	98.8%
Argentina	Claro	wireless/wireline	100.0%
Austria	A1	wireless/wireline	57.1%
	EuroTeleSites	towers	57.0%
Brazil	Claro	wireless/wireline	99.6%
Colombia	Claro	wireless/wireline	99.4%
Costa Rica	Claro	wireless/wireline	100.0%
Dominicana	Claro	wireless/wireline	100.0%
Ecuador	Claro	wireless/wireline	100.0%
El Salvador	Claro	wireless/wireline	95.8%
Guatemala	Claro	wireless/wireline	99.3%
Honduras	Claro	wireless/wireline	100.0%
Nicaragua	Claro	wireless/wireline	99.6%
Paraguay	Claro	wireless/wireline	100.0%
Peru	Claro	wireless/wireline	100.0%
Puerto Rico	Claro	wireless/wireline	100.0%
Uruguay	Claro	wireless/wireline	100.0%
Other Stakeholdings
Country	Brand	Main Activity	Equity
Chile	Claro/VTR	wireless/wireline	50.0%
Netherlands	KPN	wireless/wireline	15.4%

Content
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Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary

  

Note

Upon its sale in July 2022 Claro Panama became a discontinued operation. Claro Chile did so as well upon the establishment of the joint venture with Liberty Latin America in October 2022. The financial statements presented in this report account for those operations as discontinued operations.

The reported figures for Argentina corresponding to the third quarter of 2023 are presented in accordance with IAS29 reflecting the effects of inflationary accounting as the Argentinean economy is deemed to be hyperinflationary. All comparisons at constant exchange rates for América Móvil’s consolidated figures will exclude Argentina to ensure consistency.

Relevant Events

Telekom Austria stake to 56.5%

On July 24th we acquired shares corresponding to 5.55% of the voting rights in Telekom Austria AG thereby increasing our overall stake in the company to 56.55%.

We completed the spin-off of EuroTeleSites

On September 22nd we completed the spin-off of EuroTeleSites AG and listed its shares on the Official Market of the Vienna Stock Exchange. Shareholders of Telekom Austria AG received one EuroTeleSites share for every four Telekom Austria shares they held. Telekom Austria transferred 13 thousand towers in six countries to EuroTeleSites together with debt in the amount of one billion euros. EuroTeleSites has received a Baa2 rating from Moody’s and BBB- from Fitch. Telekom Austria currently has an A- rating from both S&P and Fitch and a Baa1 rating from Moody’s.

Access Lines

3.0M wireless net adds, 2.0M were postpaid clients

We added nearly three million wireless subscribers in the third quarter of which two million were postpaid clients: 1.2 million from Brazil, 406 thousand from Austria—including 398 thousand from A1 digital—, 104 thousand from Colombia and 93 thousand from Mexico. On our prepaid platform we had net additions of 950 thousand clients during the period. Brazil gained 193 thousand, followed by Colombia with 173 thousand, and Mexico with 81 thousand.

223k new broadband accesses

In the fixed-line segment, we gained 223 thousand broadband accesses, with 65 thousand each from Argentina and Brazil. Voice lines and PayTV units decreased by 160 thousand and 58 thousand, respectively.

Content
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Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary

  

Postpaid base +3.7% YoY and fixed-broadband accesses +3.2% YoY

At the end of September, our subscriber base totaled 306.2 million wireless subscribers, of which 119.3 million were postpaid clients. Additionally, we had 73.4 million fixed-line RGUs, which includes 31.6 million broadband accesses, 13.1 million Pay TV clients, and 28.8 million landlines. Year-on-year, our postpaid base increased 3.7%, prepaid 0.7%, and fixed-broadband accesses 3.2%.

Wireless subscribers as of September 2023
Total(1) (Thousands)
Country	Sep ’23	Jun ’23	Var.	%	Sep ’22	Var.	%
Argentina, Paraguay and Uruguay	27,614	27,462	0.6	%	26,789	3.1	%
Austria	9,917	9,511	4.3	%	8,651	14.6	%
Brazil(2)	85,032	83,671	1.6	%	86,629	-1.8	%
Central America	16,947	16,834	0.7	%	16,381	3.5	%
Caribbean	7,525	7,469	0.8	%	7,276	3.4	%
Colombia	38,701	38,424	0.7	%	36,844	5.0	%
Eastern Europe	15,215	14,975	1.6	%	15,125	0.6	%
Ecuador	9,361	9,290	0.8	%	8,900	5.2	%
Mexico	83,417	83,243	0.2	%	81,808	2.0	%
Peru	12,447	12,323	1.0	%	12,256	1.6	%
Total Wireless Lines	306,176	303,202	1.0	%	300,658	1.8	%

⁽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.

⁽²⁾ Reflects cleanup associated with the acquisition of Oi.

Fixed-Line and Other Accesses (RGUs) as of September 2023
Total(1) (Thousands)
Country	Sep ’23	Jun ’23	Var.	%	Sep ’22	Var.	%
Argentina, Paraguay and Uruguay	3,417	3,250	5.1	%	2,676	27.7	%
Austria	2,872	2,892	-0.7	%	2,971	-3.3	%
Brazil(2)	23,262	23,452	-0.8	%	24,302	-4.3	%
Central America	4,834	4,763	1.5	%	4,579	5.6	%
Caribbean	2,768	2,750	0.7	%	2,695	2.7	%
Colombia	9,413	9,334	0.8	%	9,184	2.5	%
Eastern Europe	3,378	3,357	0.6	%	3,183	6.1	%
Ecuador	555	615	-9.7	%	607	-8.5	%
Mexico	20,999	21,074	-0.4	%	21,121	-0.6	%
Peru	1,951	1,957	-0.3	%	1,993	-2.1	%
Total RGUs	73,449	73,444	0.0	%	73,310	0.2	%

⁽¹⁾ Fixed Line, Broadband and Television (Cable & DTH).

⁽²⁾ The number of Pay TV units has been adjusted to the criteria by which we report to the local regulator.

Content
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Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
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Other
European
Currency
Exchange
Rates
Appendix
Glossary

  

Broadband accesses as of September 2023
Total(1)  (Thousands)
Country	Sep ’23	Jun ’23	Var.	%	Sep ’22	Var.	%
Argentina, Paraguay and Uruguay	1,390	1,314	5.7	%	1,072	29.7	%
Austria	1,288	1,293	-0.4	%	1,317	-2.2	%
Brazil	9,930	9,866	0.6	%	9,749	1.9	%
Central America	1,515	1,485	2.0	%	1,402	8.0	%
Caribbean	1,036	1,022	1.4	%	987	5.0	%
Colombia	3,360	3,336	0.7	%	3,319	1.2	%
Eastern Europe	1,425	1,418	0.5	%	1,327	7.4	%
Ecuador	313	340	-7.8	%	336	-6.8	%
Mexico	10,324	10,304	0.2	%	10,121	2.0	%
Peru	992	972	2.1	%	965	2.8	%
Total Broadband Accesses	31,573	31,350	0.7	%	30,596	3.2	%

⁽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.

Content
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Appendix
Glossary

  

América Móvil Consolidated Results

Buoyed by strong U.S. economic data—particularly on employment levels—and lingering inflation concerns, ten-year dollar interest rates shot up by approximately 80 basis points over a ten week span in the third quarter, to 4.6%, driving another bout of dollar-strengthening. By the end of the quarter there was practically no more hope that interest rates would decline in the latter part of the year and there was instead preoccupation that the Fed was still not done raising interest rates.

Third quarter revenue reached 204 billion pesos, a 3.3% year-on-year reduction in Mexican peso terms, with service revenue falling 4.3%. As has been the case throughout several quarters, these figures reflect the appreciation of the Mexican peso vs. all other currencies in our region of operations, reducing the Mexican peso value of our international revenue. At constant exchange rates, service revenue growth expanded 3.8%.

On the fixed-line platform service revenue remained on trend, increasing 2.2% year-on-year—having risen from the 0.2% pace seen in the second half of last year—whereas on the mobile platform it rose 4.8%.

Brazil attained a positive fixed-line service revenue growth of 0.1%. In Mexico and Colombia fixed-line revenue decelerated, remaining stable in Austria and surging in Eastern Europe, to 21.5%, and in Central America, to 5.0%. In both cases it was the most rapid pace in at least one year. The slowdown in Mexico had to do with corporate networks services—broadband revenue actually accelerated to 8.2%, its best showing in a decade—while in Colombia it was the other way around.

In several countries—Brazil, Peru, Colombia and Central America—we had among the highest, if not the highest, net broadband additions in the past three years. Others, including Mexico, Austria, Peru and Central America posted their most rapid broadband revenue growth in at least one year with Brazil and Eastern Europe sustaining strong growth rates. This led to our consolidated broadband revenue expanding at the fastest rate in more than two years, 6.4%.

It is important to note that revenue from corporate network services has been gaining share within our revenue. This quarter it became the second most important revenue line within the fixed-line platform after broadband services. It already accounts for 19% of fixed-line services overall, with this share reaching 39% in Austria, 30% in Eastern Europe, 25% in Mexico and 23% in Puerto Rico.

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Mexico
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Appendix
Glossary

  

In the third quarter corporate network revenue was up 5.4% in Austria, 63% in Eastern Europe, 2.6% in Mexico and 9.0% in Puerto Rico, with the consolidated figure rising 6.5%.

On the mobile platform revenue growth decelerated in Mexico from 6.4% to 4.6% and picked up in Central America, to 9.5% from 8.8%, with Brazil’s adjusting to a normal pace after the incorporation of Oi mobile clients in the second quarter of 2022.

In Mexican peso terms EBITDA totaled 80 billion pesos, declining 3.6% from the year-earlier quarter, as the EBITDA margin remained practically flat at 39.2%. At constant exchange rates EBITDA increased 5.0% in the period, which reflects among other things the effect of tower sales in Mexico and Peru that took place in the period and one-off events in Austria. Correcting for these, adjusted EBITDA was up 3.9%.

Our operating profit stood at 41.5 billion pesos in the quarter, a 6.7% year-on-year reduction in Mexican peso terms which partly stems from the EBITDA decline mentioned above but also from a 17.6% increase in depreciation of rights of use associated with tower leases. Most of this effect had to do with the successful renegotiation a year before of certain lease agreements in Brazil that reduced Claro’s obligations.

Our comprehensive financing cost totaled 29.7 billion pesos, including an 8.8 billion pesos net interest expense, 3.9% lower than that registered a year before. Under other financial expenses there is a 4.7 billion pesos charge associated with the partial impairment of our stake in Claro Chile, our joint venture with Liberty Latin America pursuant to the valuation of the new JV under IFRS rules. Finally, our comprehensive financing costs also include a 12.3 billion pesos foreign exchange loss in the quarter, resulting principally from a 3.8% depreciation of the Mexican peso and the Brazilian real vs. the U.S. dollar.

Net income amounted to 2.0 billion pesos. It was equivalent to three peso cents per share or four dollar cents per ADR. Year-to-date our net income totaled 58.0 billion pesos.

Capital expenditures came in at 100.2 billlion pesos in the nine months to September whereas distributions to shareholders reached 24.0 billion pesos. These included share buybacks in the amount of 7.7 billion pesos and dividends of 16.3 billion and were partly funded by 3.7 billion pesos in dividend income.

As of September our net debt excluding leases totaled 389.7 billion pesos and was equivalent to 1.43 times LTM EBITDA. It was 8.3 billion pesos higher than the figure at the end-of-December. In cash flow terms we obtained net financing in the amount of 12.2 billion pesos in the period.

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Appendix
Glossary

  

América Móvil’s Income Statement Proforma(1) Millions of Mexican pesos
	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Service Revenue		169,052		176,604		-4.3%		507,310		526,022		-3.6%
Equipment Revenue		31,105		31,936		-2.6%		93,441		96,134		-2.8%
Total Revenue(2)		203,842		210,793		-3.3%		615,300		628,539		-2.1%
Cost of Service		51,989		54,643		-4.9%		155,144		162,403		-4.5%
Cost of Equipment		27,120		27,763		-2.3%		82,035		83,204		-1.4%
Selling, General & Administrative Expenses		43,189		44,372		-2.7%		131,043		135,023		-2.9%
Others		1,648		1,165		41.5%		5,775		3,159		82.8%
Total Costs and Expenses		123,947		127,944		-3.1%		373,997		383,789		-2.6%
EBITDA		79,896		82,849		-3.6%		241,303		244,750		-1.4%
% of Total Revenue		39.2%		39.3%				39.2%		38.9%
Adjusted EBITDA		78,898(3)		82,690(3)		-4.6%		235,704		244,591		-3.6%
% of Total Revenue		38.9%		39.2%				38.8%		38.9%
Depreciation & Amortization		38,353		38,334		0.0%		115,327		118,565		-2.7%
EBIT		41,543		44,515		-6.7%		125,976		126,185		-0.2%
% of Total Revenue		20.4%		21.1%				20.5%		20.1%
Net Interest Expenses		8,811		9,167		-3.9%		25,650		27,828		-7.8%
Other Financial Expenses		8,674		5,236		65.7%		21,313		23,701		-10.1%
Foreign Exchange Loss		12,255		1,836		n.m.		-15,494		-25,041		38.1%
Comprehensive Financing Cost (Income)		29,740		16,238		83.1%		31,469		26,489		18.8%
Income & Deferred Taxes		6,350		11,528		-44.9%		29,113		35,657		-18.4%
Net Income before Minority Interest and Equity Participation in Results of Affiliates		5,453		16,748		-67.4%		65,394		64,039		2.1%
Equity Participation in Results of Affiliates		-2,119		52		n.m.		-3,731		48		n.m.
Minority Interest		-1,306		-1,738		24.9%		-3,614		-4,309		16.1%
Net Income from Continued Operations		2,028		15,063		-86.5%		58,049		59,778		-2.9%
Net Income from Discontinued Operations		0		2,907		-100.0%		0		2,672		-100.0%
Net Income		2,028		17,969		-88.7%		58,049		62,450		-7.0%

 ⁽¹⁾ Adjusted to reflect the sale of Panama and the deconsolidation of Claro Chile on account of the new joint venture.

 ⁽²⁾ Total Revenue include Other Revenue.

 ⁽³⁾ Excludes the impact from the sale of towers in Peru and Telmex; and one-off events in Austria.

 n.m. Not meaningful.

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Balance Sheet - América Móvil Consolidated(1) Millions of Mexican Pesos
	Sep ‘23		Dec ‘22		Var.%			Sep ‘23		Dec ‘22		Var.%
Current Assets							Current Liabilities
Cash, Marketable Securities & Other Short Term Investments		102,788		122,129		-15.8%	Short Term Debt		152,922		102,024		49.9%
Accounts Receivable		218,872		202,027		8.3%	Lease-Related Debt		26,444		32,902		-19.6%
Other Current Assets		17,020		12,853		32.4%	Accounts Payable		146,612		165,342		-11.3%
Inventories		20,565		23,995		-14.3%	Other Current Liabilities		207,687		188,608		10.1%
		359,244		361,004		-0.5%			533,665		488,877		9.2%
Non Current Assets							Non Current Liabilities
Plant & Equipment, gross		1,275,208		1,317,191		-3.2%	Long Term Debt		354,122		408,565		-13.3%
-Depreciation		641,620		659,965		-2.8%	Lease-Related Debt		105,024		101,247		3.7%
Plant & Equipment, net		633,588		657,226		-3.6%	Other Liabilities		174,787		181,581		-3.7%
Rights of Use		120,011		121,874		-1.5%			633,933		691,393		-8.3%
Investments in Affiliates and Other Investments		30,521		30,957		-1.4%
Deferred Assets
Goodwill (Net)		146,594		141,121		3.9%
Intangible Assets		120,066		128,893		-6.8%	Shareholder’s Equity		424,544		437,829		-3.0%
Deferred Assets		182,118		177,024		2.9%
Total Assets		1,592,142		1,618,099		-1.6%	Total Liabilities and Equity		1,592,142		1,618,099		-1.6%

⁽¹⁾ Includes current portion of Long Term Debt.

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Mexico

173k wireless adds, 93k thousand postpaid clients

Our Mexican operation added 173 thousand mobile subscribers in the third quarter, with just over half, 93 thousand, being postpaid clients. On the fixed-line platform we disconnected 75 thousand RGUs, of which 95 thousand were fixed-voice lines, with broadband accesses increasing 20 thousand. In the nine months to September, we registered broadband net adss of 299 thousand compared to 84 thousand in the same period of 2022. At the end of September we had 16 million homes passed in FTTH and 76% of our clients already had a fiber access.

Broadband revenue +8.2% YoY

Our third quarter revenue totaled 81.9 billion pesos, a 7.5% increase over the year-earlier quarter. This figure includes 952 million pesos from the sale of Telmex towers. Service revenue rose 4.3% to 62.6 billion pesos, with mobile service revenue decelerating to a 4.6% pace from 6.4% the prior quarter and fixed-line service revenue to 3.6% from 5.6%. The latter results from the drop in corporate networks revenue growth from 13.6% to 2.6%. Broadband revenue kept on accelerating to an 8.2% pace from 7.5% the prior quarter. Its best performance over 10 years.

EBITDA +6.6% YoY

EBITDA was up 6.6% to 33.3 billion pesos, with an EBITDA margin of 40.7%. Adjusting for the tower sale our EBITDA totaled 32.4 billion pesos and our EBITDA margin 40.0%.

Our 5G networks cover 42% of population in over 100 cities.

INCOME STATEMENT - Mexico Millions of MxP
	3Q23			3Q22			Var.%			Jan-Sep 23			Jan-Sep 22			Var.%
Total Revenue(1)		81,904			76,215			7.5%			239,970			225,418			6.5%
Total Service Revenue		62,637			60,064			4.3%			185,876			175,823			5.7%
Total Equipment Revenue		16,806			14,733			14.1%			48,458			45,473			6.6%
Wireless Revenue		59,626			55,659			7.1%			175,593			165,017			6.4%
Service Revenue		42,931			41,042			4.6%			127,444			119,865			6.3%
Equipment Revenue		16,695			14,618			14.2%			48,149			45,152			6.6%
Fixed Line Revenue		19,817			19,138			3.5%			58,742			56,280			4.4%
EBITDA		33,327			31,250			6.6%			97,989			92,533			5.9%
% total revenue		40.7%			41.0%						40.8%			41.0%
Adjusted EBITDA(2)		32,390			31,250			3.6%			97,053			92,533			4.9%
% total revenue		40.0%			41.0%						40.6%			41.0%
EBIT		24,654			23,165			6.4%			72,385			68,543			5.6%
% total revenue		30.1%			30.4%						30.2%			30.4%

⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions.

Total revenue include other income.

⁽²⁾EBITDA figures reflect the sale of towers.

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  Mexico Operating Data

	3Q23			3Q22			Var.%
Wireless Subscribers (thousands)		83,417			81,808			2.0%
Postpaid		14,889			14,582			2.1%
Prepaid		68,527			67,226			1.9%
ARPU (MxP)		173			168			2.5%
Churn (%)		3.1%			3.3%			(0.2)
Revenue Generating Units (RGUs)(1)		20,999			21,121			-0.6%
Fixed Lines		10,675			11,000			-3.0%
Broadband		10,324			10,121			2.0%

⁽¹⁾ Fixed Line and Broadband.

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Brazil

1.2M postpaid net adds and 64k new broadband accesses

We added 1.4 million wireless subscribers—most of them, 1.2 million, were postpaid—ending September with 85.0 million subscribers. On the fixed-line platform we gained 64 thousand broadband accesses, our best result in three years. Although PayTV units continued to decrease, 123 thousand in the quarter, they did so at a much smaller pace than we have seen for the last several years. Altogether we had 23.3 million RGUs at the end the quarter.

Service revenue +5.2% YoY

Revenue totaled 11.5 billion reais in the third quarter. It was up 6.4% year-on-year, with service revenue increasing 5.2%, slightly less than the 6.1% increase posted the previous quarter. On the mobile platform service revenue advanced 9.7% whereas it increased 0.1% on the fixed-line segment, the first increase in six years. The increase in broadband revenue, 7.3%, was more than sufficient to offset the 13.2% drop in voice and the 5.3% fall in PayTV revenue.

EBITDA +9.3% YoY

EBITDA increased 9.3% in the quarter, to 4.8 billion reais, with the EBITDA margin reaching an all-time high of 41.6%.

Claro is the Fastest 5G Network in Brazil

Claro was presented with the award as the Fastest 5G Network in Brazil in the Speedtest Awards by Ookla, with its mobile internet providing the best experience for Videos and Games across all technologies. In addition, for the third time in as many years Claro received the “Empresa do Ano” award by “Anuario Telecom”, which looks at the financial performance of Brazil telcos.

Claro leader in 5G with 39% of the market share

We continue with the rollout of our 5G network and according to Anatel in its disclosure last August, Claro is the leader in 5G with a 39.0% market share.

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  INCOME STATEMENT - Brazil Millions of BrL

	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		11,489		10,803		6.4%		33,930		31,343		8.3%
Total Service Revenue		10,924		10,387		5.2%		32,381		30,270		7.0%
Wireless Revenue		6,526		5,890		10.8%		19,133		16,486		16.1%
Service Revenue		6,030		5,499		9.7%		17,693		15,482		14.3%
Equipment Revenue		496		392		26.8%		1,440		1,004		43.4%
Fixed Line Revenue		4,894		4,888		0.1%		14,688		14,789		-0.7%
EBITDA		4,784		4,375		9.3%		14,000		12,656		10.6%
% total revenue		41.6%		40.5%				41.3%		40.4%
EBIT		1,686		1,764		-4.4%		4,786		4,571		4.7%
% total revenue		14.7%		16.3%				14.1%		14.6%

 ⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions.

 Total revenue include other income.

Brazil Operating Data
	3Q23			3Q22			Var.%
Wireless Subscribers (thousands)		85,032			86,629			-1.8%
Postpaid		49,698			48,937			1.6%
Prepaid		35,334			37,691			-6.3%
ARPU (BrL)		24			21			12.0%
Churn (%)		2.5%			2.7%			(0.2)
Revenue Generating Units (RGUs)(1)		23,262			24,302			-4.3%

 ⁽¹⁾Fixed Line, Broadband and Television. The number of Pay TV units has been adjusted to the criteria by which we report to the local regulator.

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Colombia

277k wireless net adds

Mobile net additions totaled 277 thousand in the third quarter, including 104 thousand new contract clients. This took our wireless base to 38.7 million subscribers, 5.0% more than a year before. Fixed-line RGUs rose by 79 thousand acceses with a 24 thousand increase in broadband accesses, its best result in two years. We gained 47 thousand voice lines and 8 thousand PayTV clients. At the end of September our fixed-line RGUs totaled 9.4 million accesses.

Fixed-line service revenue +1.0% YoY

Third quarter revenue increased 1.3% over the year to 3.7 trillion Colombian pesos, as service revenue remained practically flat vs. the year-earlier quarter with revenue growth slowing down on both the fixed-line and the mobile platform. On the former, service revenue increased 1.0% compared to a 2.2% increase the prior quarter, whereas mobile service revenue fell by 0.4% after rising 0.6% the preceding period. Corporate networks revenue growth was a bright spot in the quarter: it stood at 21.8%.

EBITDA margin at 42.3% of revenue

In spite of pricing pressures and strong competition we managed to maintain our EBITDA at 1.6 trillion Colombian pesos. It resulted in an EBITDA margin of 42.3% in the quarter, slightly down from the 42.8% registered a year before.

  INCOME STATEMENT - Colombia Billions of COP

	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		3,739		3,690		1.3%		11,269		11,115		1.4%
Total Service Revenue		2,871		2,866		0.2%		8,657		8,532		1.5%
Wireless Revenue		2,491		2,494		-0.1%		7,554		7,534		0.3%
Service Revenue		1,719		1,726		-0.4%		5,153		5,112		0.8%
Equipment Revenue		772		769		0.4%		2,401		2,421		-0.8%
Fixed Line Revenue		1,181		1,168		1.1%		3,578		3,500		2.2%
EBITDA		1,581		1,580		0.1%		4,696		4,735		-0.8%
% total revenue		42.3%		42.8%				41.7%		42.6%
EBIT		763		905		-15.6%		2,360		2,770		-14.8%
% total revenue		20.4%		24.5%				20.9%		24.9%

⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue include other income.

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Colombia Operating Data
	3Q23			3Q22			Var.%
Wireless Subscribers (thousands)(1)		38,701			36,844		5.0%
Postpaid		10,134			9,535		6.3%
Prepaid		28,567			27,309		4.6%
ARPU (COP)		14,942			15,894		-6.0%
Churn (%)		3.4%			3.7%		(0.3)
Revenue Generating Units (RGUs)(2)		9,413			9,184		2.5%

⁽¹⁾Due to differences in the policy for accounting active subscribers, the figures in this report are different from those published by the Ministry of Communications of Colombia (MinTIC).

⁽²⁾Fixed Line, Broadband and Television.

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Peru

66k post paid net adds and 20k new broadband accesses

We registered net additions of 125 thousand mobile clients, of which 66 thousand were postpaid. Our postpaid base was up 7.0% over the year to finish the quarter with 5.9 million subscribers. On the fixed-line segment, we added 20 thousand new broadband accesses, our best performance in over two years. Altogether we had net disconnections of seven thousand accesses in the third quarter, having lost 24 thousand voice lines. Our fixed-line RGUs totaled nearly two million at the end of September.

Service revenue +3.9% YoY with mobile service revenue +4.3% YoY

Third quarter revenue increased 2.5% over the prior year to 1.6 billion soles; this figure includes 60 million soles from the sale of towers to Sitios Latam. Service revenue rose 3.9% in the same period. On the wireless segment, service revenue climbed 4.3% with postpaid revenue rising 4.7%, and that of prepaid accelerating to 3.0% from 0.6% in the prior quarter. Fixed-line service revenue increased 2.7%, on the back of broadband revenue that was up 5.7% and has been improving every quarter of 2023. PayTV and corporate networks services posted revenue increases of 8.1% and 7.4%, respectively.

EBITDA margin at 35.7% of revenue

Adjusted EBITDA, excluding tower sales, totaled 558 million soles, down 2.9% year-on-year. This decline had partly to do with a reduction in margins from equipment sales and increase costs of providing service in rural areas. The adjusted margin for the period stood at 35.7%.

INCOME STATEMENT - Peru Millions of Soles
	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		1,624		1,584		2.5%		5,623		4,780		17.6%
Total Service Revenue		1,235		1,188		3.9%		3,644		3,482		4.7%
Wireless Revenue		1,250		1,279		-2.3%		3,822		3,880		-1.5%
Service Revenue		929		891		4.3%		2,744		2,605		5.4%
Equipment Revenue		321		388		-17.3%		1,078		1,275		-15.5%
Fixed Line Revenue		306		297		2.7%		900		877		2.6%
EBITDA		599		575		4.1%		2,349		1,601		46.7%
% total revenue		36.9%		36.3%				41.8%		33.5%
Adjusted EBITDA(2)		558		575		-2.9%		1,700		1,601		6.2%
% total revenue		35.7%		36.3%				35.9%		33.5%
EBIT		280		278		0.4%		1,374		711		93.3%
% total revenue		17.2%		17.6%				24.4%		14.9%

⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue include other income.

⁽²⁾EBITDA figures reflect the sale of towers.

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Peru Operating Data
	3Q23		3Q22		Var.%
Wireless Subscribers (thousands)		12,447		12,256		1.6%
Postpaid		5,908		5,521		7.0%
Prepaid		6,539		6,735		-2.9%
ARPU (Sol)		25		24		3.4%
Churn (%)		4.2%		4.4%		(0.2)
Revenue Generating Units (RGUs)(1)		1,951		1,993		-2.1%

⁽¹⁾ Fixed Line, Broadband and Television.

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Ecuador

71k wireless net adds

Net subscriber additions in Ecuador amounted to 71 thousand, bringing the subscriber base to 9.4 million clients, which is 5.2% more than the previous year. In the fixed-line segment, we disconnected 60 thousand RGUs, including 26 thousand broadband accesses.

Slowed down in economic activity decelerate revenue

Political uncertainty and a slowed down in economic activity were behind the deceleration of our revenue in Ecuador. Third-quarter revenue of 259 million dollars was down 0.6% compared to the previous year, with service revenue dropping 0.8% as mobile service revenue declined 0.5% —mostly to do with the prepaid segment. Fixed-line service revenue was 3.3% lower than in the same quarter of the previous year.

We managed to increase EBITDA +2.2% YoY

We’ve redoubled our efforts to maintain margins and managed to increase our EBITDA by 2.2% year-on-year to 126 million dollars. This figure represents 48.6% of our revenue compared to 47.3% in the year-earlier quarter.

INCOME STATEMENT—Ecuador Millions of Dollars
	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		259		260		-0.6%		779		766		1.7%
Total Service Revenue		228		230		-0.8%		683		675		1.2%
Wireless Revenue		231		233		-0.9%		697		683		2.0%
Service Revenue		202		203		-0.5%		604		595		1.5%
Equipment Revenue		29		30		-3.6%		93		88		5.7%
Fixed Line Revenue		27		27		-0.3%		80		82		-1.6%
EBITDA		126		123		2.2%		376		356		5.7%
% total revenue		48.6%		47.3%				48.3%		46.5%
EBIT		70		71		-1.7%		210		212		-1.0%
% total revenue		26.9%		27.2%				26.9%		27.6%

⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue include other income.

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Ecuador Operating Data
	3Q23		3Q22		Var.%
Wireless Subscribers (thousands)		9,361		8,900		5.2%
Postpaid		2,268		2,170		4.5%
Prepaid		7,093		6,730		5.4%
ARPU (US$)		7		8		-5.5%
Churn (%)		3.1%		3.3%		(0.2)
Revenue Generating Units (RGUs)(1)		555		607		-8.5%

⁽¹⁾Fixed Line, Broadband and Television.

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Argentina

For comparison purposes all comments in this section related to annual variations of the presented period for Argentina refer to figures in constant peso terms, that is, adjusted for inflation in accordance to NIC 29. Information for Uruguay and Paraguay is not presented in the table.

126k wireless net adds and 160k fixed-line new RGUs

Claro has been proactive in its efforts to roll out fiber and provide high-speed connectivity across more cities and towns. This initiative has resulted in solid growth: we added 160 thousand new fixed-line RGUs during the period, bringing our total to just over three million, which is 31.0% more than a year before. Argentina continues to be our fastest-growing operation in the fixed-line segment. On the mobile platform, we gained 126 thousand wireless subscribers, including 33 thousand postpaid subs. At the end of September our wireless base reached 24.5 million, marking a 3.2% increase from the prior year.

Fixed-line service revenue growth of 19.0% YoY

Revenue for the quarter decreased 7.7% in real terms compared to the same period last year, reaching 145.1 million Argentinean pesos, almost exclusively on account of lower equipment sales. However, service revenue remained practically flat in after-inflation terms, buoyed by the strong growth in the fixed-line platform. Fixed-line service revenue experienced an 19.0% increase in the quarter, up from 15.2% in the second quarter and after a 0.6% decline in the first quarter. The revenue from PayTV and broadband saw significant growth, increasing by 59.5% and 18.7%, respectively.

Important improvement in mobile service revenue

On the mobile platform service revenue registered a 3.6% drop after inflation, representing an important improvement after 7.8% and 13.9% declines in the previous quarters. Postpaid revenue remained practically flat after inflation but revenue from prepaid services fell 14.6% in real terms.

EBITDA down 10.9% YoY in real terms

The 130% devaluation of the Argentinean peso during the period and the ensuing inflationary pressure impacted our EBITDA. It registered a 10.9% year-on-year decrease in real terms, to 56.4 million Argentinean pesos. The EBITDA margin for the period was 38.9%, slightly below the 40.2% observed a year before.

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INCOME STATEMENT - Argentina Millions of Constant ARS as of September 2023
	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		145,053		157,233		-7.7%		445,830		481,346		-7.4%
Total Service Revenue		118,408		118,598		-0.2%		358,304		380,302		-5.8%
Wireless Revenue		123,463		138,946		-11.1%		384,028		425,145		-9.7%
Service Revenue		97,174		100,754		-3.6%		297,298		325,308		-8.6%
Equipment Revenue		26,289		38,192		-31.2%		86,729		99,837		-13.1%
Fixed Line Revenue		21,235		17,844		19.0%		61,006		54,994		10.9%
EBITDA		56,372		63,267		-10.9%		175,977		194,537		-9.5%
% total revenue		38.9%		40.2%				39.5%		40.4%
EBIT		48,055		51,652		-7.0%		147,346		157,608		-6.5%
% total revenue		33.1%		32.9%				33.0%		32.7%

⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue include other income.

Argentina Operating Data
	3Q23		3Q22		Var.%
Wireless Subscribers (thousands)		24,526		23,775		3.2%
Postpaid		9,324		9,072		2.8%
Prepaid		15,202		14,702		3.4%
ARPU (ARS)		1,187		571		107.9%
Churn (%)		1.4%		1.5%		(0.1)
Revenue Generating Units (RGUs)(1)		3,087		2,356		31.0%

⁽¹⁾Fixed Line, Broadband and Television.

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Central America

113k wireless net adds and 71k new fixed RGUs

Our operations in Central America added 113 thousand mobile subscribers in the third quarter, with half being postpaid. At the end of September we had 17 million clients, 3.5% more than a year before. In the fixed-line segment, we recorded net additions of 71 thousand RGUs, including 30 thousand broadband accesses—one of our strongest showings of the last three years—and 27 thousand PayTV units. Overall, fixed-line RGUs stood at 4.8 million at the end of the period, a 5.6% increase compared to the prior year.

Service revenue +8.0% YoY with mobile service revenue +9.5% YoY

Revenue increased 5.5% to 622 million dollars, with service revenue growing 8.0%, up from 7.2% in the prior quarter. Mobile service revenue growth surged 9.5%, with postpaid services outpacing prepaid; the former grew by 10.1%, while the latter saw a 9.1% increase. We also observed faster growth in our fixed-line service revenue, which rose by 5.0% in the third quarter, compared to 4.4% in the second quarter and 1.9% in the first. Our efforts in broadband and PayTV are yielding positive results, with broadband revenue accelerating to a 5.9% pace, its best performance in more than a year, as was the case also with revenue from corporate network services, up 5.2%. PayTV revenue was up 8.4%.

EBITDA +3.8% YoY

With greater operating leverage and diligent cost controls our EBITDA rose 3.8%. Standing at 262 million dollars, it represented 42.1% of revenue.

INCOME STATEMENT⁽¹⁾ - Central America Millions of Dollars

	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(2)		622		589		5.5%		1,842		1,740	5.9%
Total Service Revenue		545		505		8.0%		1,601		1,499	6.8%
Wireless Revenue		427		401		6.7%		1,262		1,174	7.5%
Service Revenue		360		329		9.5%		1,051		969	8.5%
Equipment Revenue		67		72		-6.5%		211		205	2.5%
Fixed Line Revenue		191		183		4.2%		569		551	3.2%
EBITDA		262		252		3.8%		770		758	1.6%
% total revenue		42.1%		42.8%				41.8%		43.5%
EBIT		122		134		-9.0%		360		408	-11.6%
% total revenue		19.6%		22.7%				19.6%		23.4%

⁽¹⁾ The table reflects the sale of Panama.

⁽²⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue include other income.

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Central America Operating Data⁽¹⁾

	3Q23		3Q22		Var.%
Wireless Subscribers (thousands)		16,947		16,381	3.5%
Postpaid		2,542		2,333	9.0%
Prepaid		14,405		14,049	2.5%
ARPU (US$)		7		7	5.2%
Churn (%)		5.8%		5.9%	(0.1)
Revenue Generating Units (RGUs)(2)		4,834		4,579	5.6%

⁽¹⁾The table reflects the sale of Panama.

⁽²⁾Fixed Line, Broadband and Television.

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Caribbean

42k wireless net adds in the Dominican Republic

Net additions in the mobile segment came in at 42 thousand for Dominicana and 15 thousand for Puerto Rico whereas on the fixed-line platform the former added just over one thousand RGUs and the latter 17 thousand.

Service revenue +3.4% YoY in the Dominican Republic

Total revenue in the islands came in at 484 million dollars in the third quarter, flat relative to the prior year, with service revenue down 2.6% in the period. In Dominicana we posted 3.4% service revenue growth as that from mobile increased 4.6% and that from the fixed-line platform 1.7%. Mobile postpaid and fixed-broadband revenue led the expansion, rising 7.5% and 9.5%, respectively. In Puerto Rico service revenue dropped 4.5% with mobile falling 6.9% dragged down by postpaid, and fixed-line revenue declining 0.9% as the increase in broadband, corporate networks and PayTV revenue failed to compensate for the declines observed in the voice segment.

EBITDA margin at 37.4% of revenue

EBITDA of 181 million dollars in the quarter was down 0.5% year-on-year and the combined margin was equivalent to 37.4% of revenue. Dominicana posted a 1.8% EBITDA increase in its local currency, while that of Puerto Rico was down 2.1%.

INCOME STATEMENT - Caribbean Millions of Dollars

	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		484		489		-1.0%		1,584		1,448	9.4%
Total Service Revenue		424		435		-2.6%		1,286		1,280	0.5%
Wireless Revenue		300		307		-2.1%		919		925	-0.6%
Service Revenue		247		255		-3.0%		760		756	0.5%
Equipment Revenue		53		52		2.3%		159		168	-5.6%
Fixed Line Revenue		181		184		-1.7%		536		531	1.0%
EBITDA		181		182		-0.5%		640		542	18.1%
% total revenue		37.4%		37.2%				40.4%		37.4%
Adjusted EBITDA(2)		181		182		-0.5%		598		542	10.4%
% total revenue		37.4%		37.2%				41.1%		37.4%
EBIT		80		95		-16.3%		347		282	23.2%
% total revenue		16.5%		19.5%				21.9%		19.4%

⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue include other income.

⁽²⁾EBITDA figures reflect the sale of towers.

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Caribbean Operating Data

	3Q23		3Q22		Var.%
Wireless Subscribers (thousands)		7,525		7,276	3.4%
Postpaid		2,227		2,162	3.0%
Prepaid		5,298		5,114	3.6%
ARPU (US$)		11		12	-6.5%
Churn (%)		3.2%		3.2%	0.0
Revenue Generating Units (RGUs)(1)		2,768		2,695	2.7%

⁽¹⁾Fixed Line, Broadband and Television.

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Austria

406k wireless net adds, 396k from A1 Digital

Wireless net additions reached 406 thousand, marking a record high in at least four years. This figure includes 398 thousand IoT additions from A1 Digital. At the end of September we had 9.9 million subscribers, a 14.6% increase from September 2022. On the fixed-line platform, we disconnected 20 thousand units—including five thousand entry-level broadband accesses and 14 thousand voice lines—bringing the total RGUs to 2.9 million.

Mobile service revenue +3.9% YoY

Our third quarter revenue, 704 million Euros, was barely higher than in the previous year, although service revenue was up 2.5% on the back of a 3.9% increase in mobile revenue, with that of postpaid growing 4.6% and that of prepaid declining 3.9%. On the fixed-line platform, service revenue was 1.3% higher year-on-year. We observed an acceleration from the prior quarter of revenue from corporate networks (5.4%), PayTV (8.9%), and broadband (5.6%). However, fixed-line voice revenue plummeted by 16.6% year-on-year, canceling most of the increase obtained in the other revenue lines.

EBITDA margin at 41.6% of revenue

Third quarter EBITDA came in at 286 million euros, down 2.2% from a year before, with a 40.6% EBITDA margin. The spin-off of EuroTeleSites in September led to the payment of certain duties that were partly offset by the release of provisions. Correcting for the net effect on EBITDA of the above and the freeing up of certain provisions on labor costs carried out in the third quarter of 2022, adjusted EBITDA totaled 293 million euros, a 3.1% year-on-year increase, with the Adjusted EBITDA margin at 41.6%.

INCOME STATEMENT - Austria Millions of Euros

	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		704		702		0.3%		2,084		2,042	2.0%
Total Service Revenue		622		608		2.5%		1,837		1,799	2.1%
Wireless Revenue		323		319		1.3%		955		923	3.5%
Service Revenue		275		264		3.9%		798		769	3.9%
Equipment Revenue		48		55		-11.4%		157		154	1.8%
Fixed Line Revenue		368		371		-0.9%		1,092		1,081	1.0%
EBITDA		286		292		-2.2%		787		795	-1.0%
% total revenue		40.6%		41.6%				37.8%		38.9%
Adjusted EBITDA(2)		293		284		3.1%		794		787	0.9%
% total revenue		41.6%		40.5%				38.1%		38.5%
EBIT		150		154		-2.6%		377		383	-1.6%
% total revenue		21.3%		21.9%				18.1%		18.8%

For further detail please visit www.a1.group/en/investor-relations

⁽¹⁾Total revenue include other income.

⁽²⁾Excludes one-off effects.

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Austria Operating Data

	3Q23		3Q22		Var.%
Wireless Subscribers (thousands)		5,142		5,148	-0.1%
Postpaid		4,075		4,065	0.2%
Prepaid		1,067		1,082	-1.4%
A1 Digital Subscribers (thousands)		4,775		3,503	36.3%
ARPU (Euros)(1)		18		17	3.7%
Churn (%)(1)		1.2%		1.1%	0.1
Revenue Generating Units (RGUs)(2)		2,872		2,971	-3.3%

⁽¹⁾ Does not include A1 Digital subscribers.

⁽²⁾ Fixed Line, Broadband and Television.

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Other European

240k wireless net adds

Our operations in Eastern Europe added a total of 240 thousand mobile subscribers, of which 35 thousand were postpaid. We also added 22 thousand fixed-line RGUs in the quarter, eight thousand of which were broadband accesses. At the end of the period, we had 3.4 million fixed-line RGUs, representing a 6.1% increase year-on-year.

Fixed-line service revenue +21.5% YoY

Revenue increased by 5.4% over the year, to 633 million euros. Service revenue growth slowed to 7.1% from 8.4% in the previous quarter, as mobile service revenue growth declined to 2.3% from 5.2%. The deceleration in mobile revenue growth is partly attributed to the devaluation of the Belarusian ruble. Revenue from the fixed-line platform surged 21.5%, accelerating from the 17.7% growth observed in the previous quarter. This was buoyed by corporate networks revenue, which soared 63.0%, and by revenue from broadband and PayTV, which grew by 16.0% and 5.7%, respectively.

EBITDA +4.8% YoY

EBITDA for the period rose 4.8% to 248 million euros, with the margin accounting for 39.2% of revenue.

INCOME STATEMENT - Other European Millions of Euros
	3Q23		3Q22		Var.%		Jan-Sep 23		Jan-Sep 22		Var.%
Total Revenue(1)		633		601		5.4%		1,824		1,653		10.4%
Total Service Revenue		505		471		7.1%		1,422		1,308		8.7%
Wireless Revenue		468		459		2.0%		1,353		1,265		6.9%
Service Revenue		361		353		2.3%		1,026		974		5.4%
Equipment Revenue		107		106		1.2%		326		291		12.1%
Fixed Line Revenue		156		130		20.5%		437		356		22.9%
EBITDA		248		237		4.8%		696		646		7.7%
% total revenue		39.2%		39.5%				38.2%		39.1%
EBIT		143		131		8.5%		380		342		11.2%
% total revenue		22.5%		21.9%				20.8%		20.7%

For further detail please visit www.a1.group/en/investor-relations

⁽¹⁾Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue include other income.

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Other European Operating Data
	3Q23	3Q22	Var.%
Wireless Subscribers (thousands)	15,215	15,125	0.6%
Postpaid	12,271	12,140	1.1%
Prepaid	2,944	2,985	-1.4%
ARPU (Euros)	8	8	5.7%
Churn (%)	1.6%	1.6%	0.0
Revenue Generating Units (RGUs)(1)	3,378	3,183	6.1%

⁽¹⁾Fixed Line, Broadband and Television.

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Exchange Rates Local Currency Units per MxP
	3Q23	3Q22	Var.	%	Jan-Sep 23	Jan-Sep 22	Var.	%
Euro
End of Period	0.0596	0.0502	18.7	%	0.0596	0.0502	18.7	%
Average	0.0638	0.0490	30.1	%	0.0608	0.0463	31.2	%
USD
End of Period	0.0564	0.0492	14.5	%	0.0564	0.0492	14.5	%
Average	0.0587	0.0494	18.8	%	0.0561	0.0493	13.7	%
Brazilean Real
End of Period	0.2825	0.2663	6.1	%	0.2825	0.2663	6.1	%
Average	0.2863	0.2591	10.5	%	0.2811	0.2532	11.0	%
Argentinean Peso
End of Period	19.7392	7.2551	172.1	%	19.7392	7.2551	172.1	%
Average	18.3370	6.6997	173.7	%	13.7772	5.9218	132.7	%
Colombian Peso
End of Period	230.4495	223.1909	3.3	%	230.4495	223.1909	3.3	%
Average	237.6501	216.2132	9.9	%	247.7523	200.6756	23.5	%
Guatemalan Quetzal
End of Period	0.4433	0.3882	14.2	%	0.4433	0.3882	14.2	%
Average	0.4611	0.3832	20.3	%	0.4396	0.3807	15.5	%
Peruvian Sol
End of Period	0.2142	0.1962	9.2	%	0.2142	0.1962	9.2	%
Average	0.2158	0.1923	12.2	%	0.2095	0.1884	11.2	%
Dominican Republic Peso
End of Period	3.2123	2.6505	21.2	%	3.2123	2.6505	21.2	%
Average	3.3257	2.6716	24.5	%	3.1341	2.7295	14.8	%

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Exchange Rates Local Currency Units per USD
	3Q23	3Q22	Var.	%	Jan-Sep 23	Jan-Sep 22	Var.	%
Euro
End of Period	1.0573	1.0202	3.6	%	1.0573	1.0202	3.6	%
Average	1.0879	0.9927	9.6	%	1.0831	0.9388	15.4	%
Mexican Peso
End of Period	17.7287	20.3058	-12.7	%	17.7287	20.3058	-12.7	%
Average	17.0449	20.2412	-15.8	%	17.8232	20.2670	-12.1	%
Brazilean Real
End of Period	5.0076	5.4066	-7.4	%	5.0076	5.4066	-7.4	%
Average	4.8801	5.2444	-6.9	%	5.0102	5.1318	-2.4	%
Argentinean Peso
End of Period	349.9500	147.3200	137.5	%	349.9500	147.3200	137.5	%
Average	312.5517	135.6090	130.5	%	245.5540	120.0163	104.6	%
Colombian Peso
End of Period	4,085.5700	4,532.0700	-9.9	%	4,085.5700	4,532.0700	-9.9	%
Average	4,050.7198	4,376.4089	-7.4	%	4,415.7488	4,067.0982	8.6	%
Guatemalan Quetzal
End of Period	7.8583	7.8837	-0.3	%	7.8583	7.8837	-0.3	%
Average	7.8590	7.7571	1.3	%	7.8344	7.7150	1.5	%
Peruvian Sol
End of Period	3.7970	3.9840	-4.7	%	3.7970	3.9840	-4.7	%
Average	3.6791	3.8928	-5.5	%	3.7343	3.8181	-2.2	%
Dominican Republic Peso
End of Period	56.9500	53.8200	5.8	%	56.9500	53.8200	5.8	%
Average	56.6860	54.0757	4.8	%	55.8604	55.3196	1.0	%

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Appendix

Financial Debt of América Móvil(1) Millions
	Sep -23		Dec -22
Peso - denominated debt (MxP)		139,658		97,134
Bonds(2)		83,378		53,554
Banks and others		56,280		43,580
U.S. Dollar - denominated debt (USD)		8,496		8,521
Bonds		8,496		8,496
Banks and others		0		25
Euro - denominated Debt (EUR)		6,804		7,045
Bonds		5,472		6,099
Commercial Paper		657		125
Banks and others		675		821
Sterling - denominated Debt (GBP)		2,200		2,200
Bonds		2,200		2,200
Reais - denominated Debt (BRL)		8,050		10,691
Bonds		8,050		9,050
Banks and others		0		1,641
Debt denominated in other currencies (MxP)(3)		13,147		10,220
Bonds		5,126		5,889
Banks and others		8,021		4,331
Total Debt (MxP)		507,044		510,589
Cash, Marketable Securities and Short Term Financial Investments (MxP)(4)		117,298		129,110
Net Debt (MxP)		389,745		381,479

⁽¹⁾This table does not include the effect of forwards and derivatives used to hedge our foreign exchange exposure. It includes financial debt of Telekom Austria.

⁽²⁾Includes the effect of inflation-linked debt.

⁽³⁾Includes Peruvian soles.

⁽⁴⁾Includes fixed income securities.

 Summary Cash Flow Millions of Mexican pesos

	Jan-Sep 23		Jan-Sep 22
Funds from Operations		113,715		115,276
Capital Expenditures		100,204		105,271
Free Cash Flow(1)		13,511		8,521
Dividends and Share Buybacks		20,270		45,746
Sale of Ownership Interest		(5,028)		(33,459)
Net Debt Amortizations		(12,209)		(23,736)
Amortization of Labor Obligations		10,478		19,970

⁽¹⁾ There are approximately one billion pesos directed to the provisioning to the early retirement plans in Austria that has been substracted from the Free Cash Flow in 2022.

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AMERICA MOVIL, S.A.B. DE C.V.	Consolidated
Ticker:   AMX	Quarter:   3   Year:   2023

[210000] Statement of financial position, current/non-current

Concept	Close Current Quarter 2023-09-30		Close Previous Exercise 2022-12-31
Statement of financial position [abstract]
Assets [abstract]
Current assets [abstract]
Cash and cash equivalents		28,269,862,000		33,700,949,000
Trade and other current receivables		155,768,466,000		154,764,228,000
Current tax assets, current		62,718,960,000		46,947,187,000
Other current financial assets		76,297,904,000		91,030,791,000
Current inventories		20,564,752,000		23,995,133,000
Current biological assets		0		0
Other current non-financial assets		15,624,093,000		10,565,422,000
Total current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		359,244,037,000		361,003,710,000
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners		0		0
Total current assets		359,244,037,000		361,003,710,000
Non-current assets [abstract]
Trade and other non-current receivables		8,637,383,000		8,724,497,000
Current tax assets, non-current		9,251,211,000		9,579,524,000
Non-current inventories		0		0
Non-current biological assets		0		0
Other non-current financial assets		14,510,542,000		6,981,149,000
Investments accounted for using equity method		0		0
Investments in subsidiaries, joint ventures and associates		16,010,740,000		23,975,462,000
Property, plant and equipment		633,588,243,000		657,226,210,000
Investment property		0		0
Right-of-use assets that do not meet definition of investment property		120,010,835,000		121,874,096,000
Goodwill		146,593,836,000		141,121,365,000
Intangible assets other than goodwill		120,066,266,000		128,893,422,000
Deferred tax assets		133,470,022,000		128,717,811,000
Other non-current non-financial assets		30,758,960,000		30,002,098,000
Total non-current assets		1,232,898,038,000		1,257,095,634,000
Total assets		1,592,142,075,000		1,618,099,344,000
Equity and liabilities [abstract]
Liabilities [abstract]
Current liabilities [abstract]
Trade and other current payables		202,235,765,000		208,741,915,000
Current tax liabilities, current		67,139,580,000		63,061,711,000
Other current financial liabilities		177,420,876,000		127,355,760,000
Current lease liabilities		26,444,015,000		32,902,237,000
Other current non-financial liabilities		0		0

10 of 59

AMERICA MOVIL, S.A.B. DE C.V.	Consolidated
Ticker:   AMX	Quarter:   3   Year:   2023

Concept	Close Current Quarter 2023-09-30		Close Previous Exercise 2022-12-31
Current provisions [abstract]
Current provisions for employee benefits		22,563,159,000		17,342,822,000
Other current provisions		37,861,568,000		39,472,509,000
Total current provisions		60,424,727,000		56,815,331,000
Total current liabilities other than liabilities included in disposal groups classified as held for sale		533,664,963,000		488,876,954,000
Liabilities included in disposal groups classified as held for sale		0		0
Total current liabilities		533,664,963,000		488,876,954,000
Non-current liabilities [abstract]
Trade and other non-current payables		2,063,337,000		2,556,103,000
Current tax liabilities, non-current		0		0
Other non-current financial liabilities		354,122,037,000		408,565,066,000
Non-current lease liabilities		105,023,825,000		101,246,574,000
Other non-current non-financial liabilities		0		0
Non-current provisions [abstract]
Non-current provisions for employee benefits		137,317,089,000		137,923,317,000
Other non-current provisions		10,722,604,000		10,799,997,000
Total non-current provisions		148,039,693,000		148,723,314,000
Deferred tax liabilities		24,684,099,000		30,302,060,000
Total non-current liabilities		633,932,991,000		691,393,117,000
Total liabilities		1,167,597,954,000		1,180,270,071,000
Equity [abstract]
Issued capital		95,363,644,000		95,365,329,000
Share premium		0		0
Treasury shares		0		0
Retained earnings		533,719,910,000		505,483,717,000
Other reserves		(261,573,463,000)		(227,044,342,000)
Total equity attributable to owners of parent		367,510,091,000		373,804,704,000
Non-controlling interests		57,034,030,000		64,024,569,000
Total equity		424,544,121,000		437,829,273,000
Total equity and liabilities		1,592,142,075,000		1,618,099,344,000

11 of 59

AMERICA MOVIL, S.A.B. DE C.V.	Consolidated
Ticker:   AMX	Quarter:   3   Year:   2023

[310000] Statement of comprehensive income, profit or loss, by function of expense

Concept	Accumulated Current Year  2023-01-01 - 2023-  09-30		Accumulated Previous Year  2022-01-01 - 2022-  09-30		Quarter Current Year  2023-07-01 - 2023-  09-30		Quarter Previous Year  2022-07-01 - 2022-  09-30
Profit or loss [abstract]
Profit (loss) [abstract]
Revenue		615,300,254,000		628,539,367,000		203,842,279,000		210,792,683,000
Cost of sales		352,506,543,000		364,172,138,000		117,461,556,000		120,741,069,000
Gross profit		262,793,711,000		264,367,229,000		86,380,723,000		90,051,614,000
Distribution costs		87,157,728,000		89,896,932,000		28,909,959,000		30,211,671,000
Administrative expenses		43,884,962,000		45,125,738,000		14,279,489,000		14,160,495,000
Other income		0		0		0		0
Other expense		5,775,031,000		3,159,198,000		1,648,249,000		1,164,794,000
Profit (loss) from operating activities		125,975,990,000		126,185,361,000		41,543,026,000		44,514,654,000
Finance income		22,138,247,000		38,133,966,000		2,684,783,000		7,076,561,000
Finance costs		53,607,459,000		64,622,745,000		32,424,494,000		23,315,044,000
Share of profit (loss) of associates and joint ventures accounted for using equity method		(3,731,486,000)		48,014,000		(2,118,827,000)		52,304,000
Profit (loss) before tax		90,775,292,000		99,744,596,000		9,684,488,000		28,328,475,000
Tax income (expense)		29,112,504,000		35,657,332,000		6,350,343,000		11,528,134,000
Profit (loss) from continuing operations		61,662,788,000		64,087,264,000		3,334,145,000		16,800,341,000
Profit (loss) from discontinued operations		0		2,671,630,000		0		2,906,654,000
Profit (loss)		61,662,788,000		66,758,894,000		3,334,145,000		19,706,995,000
Profit (loss), attributable to [abstract]
Profit (loss), attributable to owners of parent		58,048,606,000		62,449,705,000		2,028,373,000		17,969,165,000
Profit (loss), attributable to non-controlling interests		3,614,182,000		4,309,189,000		1,305,772,000		1,737,830,000
Earnings per share [text block]
Earnings per share [abstract]
Earnings per share [line items]
Basic earnings per share [abstract]
Basic earnings (loss) per share from continuing operations		0.92		0.93		0.03		0.23
Basic earnings (loss) per share from discontinued operations		0		0.04		0		0.05
Total basic earnings (loss) per share		0.92		0.97		0.03		0.28
Diluted earnings per share [abstract]
Diluted earnings (loss) per share from continuing operations		0.92		0.93		0.03		0.23
Diluted earnings (loss) per share from discontinued operations		0		0.04		0		0.05
Total diluted earnings (loss) per share		0.92		0.97		0.03		0.28

12 of 59

AMERICA MOVIL, S.A.B. DE C.V.	Consolidated
Ticker:   AMX	Quarter:   3   Year:   2023

[410000] Statement of comprehensive income, OCI components presented net of tax

Concept	Accumulated Current Year 2023-01-01 - 2023-09-30		Accumulated Previous Year 2022-01-01 - 2022-09-30		Quarter Current Year 2023-07-01 - 2023-09-30		Quarter Previous Year 2022-07-01 - 2022-09-30
Statement of comprehensive income [abstract]
Profit (loss)		61,662,788,000		66,758,894,000		3,334,145,000		19,706,995,000
Other comprehensive income [abstract]
Components of other comprehensive income that will not be reclassified to profit or loss, net of tax [abstract]
Other comprehensive income, net of tax, gains (losses) from investments in equity instruments		(3,630,663,000)		(5,699,392,000)		(3,512,759,000)		(15,906,401,000)
Other comprehensive income, net of tax, gains (losses) on revaluation		0		0		0		0
Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans		(74,096,000)		677,362,000		(74,096,000)		677,362,000
Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability		0		0		0		0
Other comprehensive income, net of tax, gains (losses) on hedging instruments that hedge investments in equity instruments		0		0		0		0
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will not be reclassified to profit or loss, net of tax		0		0		0		0
Total other comprehensive income that will not be reclassified to profit or loss, net of tax		(3,704,759,000)		(5,022,030,000)		(3,586,855,000)		(15,229,039,000)
Components of other comprehensive income that will be reclassified to profit or loss, net of tax [abstract]
Exchange differences on translation [abstract]
Gains (losses) on exchange differences on translation, net of tax		(27,440,200,000)		(30,715,904,000)		18,211,530,000		(12,307,008,000)
Reclassification adjustments on exchange differences on translation, net of tax		0		0		0		0
Other comprehensive income, net of tax, exchange differences on translation		(27,440,200,000)		(30,715,904,000)		18,211,530,000		(12,307,008,000)
Available-for-sale financial assets [abstract]
Gains (losses) on remeasuring available-for-sale financial assets, net of tax		0		0		0		0
Reclassification adjustments on available-for-sale financial assets, net of tax		0		0		0		0
Other comprehensive income, net of tax, available-for-sale financial assets		0		0		0		0
Cash flow hedges [abstract]
Gains (losses) on cash flow hedges, net of tax		0		0		0		0
Reclassification adjustments on cash flow hedges, net of tax		0		0		0		0
Amounts removed from equity and included in carrying amount of non-financial asset (liability) whose acquisition or incurrence was hedged highly probable forecast transaction, net of tax		0		0		0		0
Other comprehensive income, net of tax, cash flow hedges		0		0		0		0
Hedges of net investment in foreign operations [abstract]
Gains (losses) on hedges of net investments in foreign operations, net of tax		0		0		0		0
Reclassification adjustments on hedges of net investments in foreign operations, net of tax		0		0		0		0
Other comprehensive income, net of tax, hedges of net investments in foreign operations		0		0		0		0
Change in value of time value of options [abstract]
Gains (losses) on change in value of time value of options, net of tax		0		0		0		0
Reclassification adjustments on change in value of time value of options, net of tax		0		0		0		0
Other comprehensive income, net of tax, change in value of time value of options		0		0		0		0
Change in value of forward elements of forward contracts [abstract]
Gains (losses) on change in value of forward elements of forward contracts, net of tax		0		0		0		0
Reclassification adjustments on change in value of forward elements of forward contracts, net of tax		0		0		0		0

13 of 59

AMERICA MOVIL, S.A.B. DE C.V.	Consolidated
Ticker:   AMX	Quarter:   3   Year:   2023

Concept	Accumulated Current Year 2023-01-01 - 2023-09-30		Accumulated Previous Year 2022-01-01 - 2022-09-30		Quarter Current Year 2023-07-01 - 2023-09-30		Quarter Previous Year 2022-07-01 - 2022-09-30
Other comprehensive income, net of tax, change in value of forward elements of forward contracts		0		0		0		0
Change in value of foreign currency basis spreads [abstract]
Gains (losses) on change in value of foreign currency basis spreads, net of tax		0		0		0		0
Reclassification adjustments on change in value of foreign currency basis spreads, net of tax		0		0		0		0
Other comprehensive income, net of tax, change in value of foreign currency basis spreads		0		0		0		0
Financial assets measured at fair value through other comprehensive income [abstract]
Gains (losses) on financial assets measured at fair value through other comprehensive income, net of tax		0		0		0		0
Reclassification adjustments on financial assets measured at fair value through other comprehensive income, net of tax		0		0		0		0
Amounts removed from equity and adjusted against fair value of financial assets on reclassification out of fair value through other comprehensive income measurement category, net of tax		0		0		0		0
Other comprehensive income, net of tax, financial assets measured at fair value through other comprehensive income		0		0		0		0
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of tax		0		0		0		0
Total other comprehensive income that will be reclassified to profit or loss, net of tax		(27,440,200,000)		(30,715,904,000)		18,211,530,000		(12,307,008,000)
Total other comprehensive income		(31,144,959,000)		(35,737,934,000)		14,624,675,000		(27,536,047,000)
Total comprehensive income		30,517,829,000		31,020,960,000		17,958,820,000		(7,829,052,000)
Comprehensive income attributable to [abstract]
Comprehensive income, attributable to owners of parent		29,158,213,000		31,390,828,000		15,135,314,000		(8,138,711,000)
Comprehensive income, attributable to non-controlling interests		1,359,616,000		(369,868,000)		2,823,506,000		309,659,000

14 of 59

AMERICA MOVIL, S.A.B. DE C.V.	Consolidated
Ticker:   AMX	Quarter:   3   Year:   2023

 [520000] Statement of cash flows, indirect method

Concept	Accumulated Current Year  2023-01-01 - 2023-09-30		Accumulated Previous Year  2022-01-01  - 2022-09-30
Statement of cash flows [abstract]
Cash flows from (used in) operating activities [abstract]
Profit (loss)		61,662,788,000		66,758,894,000
Adjustments to reconcile profit (loss) [abstract]
+ Discontinued operations		0		(1,385,705,000)
+ Adjustments for income tax expense		29,112,504,000		35,657,332,000
+ (-) Adjustments for finance costs		6,960,397,000		14,331,431,000
+ Adjustments for depreciation and amortisation expense		115,327,084,000		118,564,551,000
+ Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss		0		0
+ Adjustments for provisions		15,940,510,000		14,497,642,000
+ (-) Adjustments for unrealised foreign exchange losses (gains)		0		0
+ Adjustments for share-based payments		0		0
+ (-) Adjustments for fair value losses (gains)		0		0
- Adjustments for undistributed profits of associates		0		0
+ (-) Adjustments for losses (gains) on disposal of non-current assets		(5,158,441,000)		330,915,000
		3,731,486,000		(48,014,000)
+ (-) Adjustments for decrease (increase) in inventories		2,393,247,000		(9,096,805,000)
+ (-) Adjustments for decrease (increase) in trade accounts receivable		(23,253,767,000)		(18,738,127,000)
+ (-) Adjustments for decrease (increase) in other operating receivables		(16,439,818,000)		(8,761,983,000)
+ (-) Adjustments for increase (decrease) in trade accounts payable		7,785,737,000		(6,348,617,000)
+ (-) Adjustments for increase (decrease) in other operating payables		(23,091,847,000)		(19,648,366,000)
+ Other adjustments for non-cash items		0		0
+ Other adjustments for which cash effects are investing or financing cash flow		0		0
+ Straight-line rent adjustment		0		0
+ Amortization of lease fees		0		0
+ Setting property values		0		0
+ (-) Other adjustments to reconcile profit (loss)		0		0
+ (-) Total adjustments to reconcile profit (loss)		113,307,092,000		119,354,254,000
Net cash flows from (used in) operations		174,969,880,000		186,113,148,000
- Dividends paid		0		0
		0		0
- Interest paid		0		0
+ Interest received		3,430,129,000		2,749,169,000
+ (-) Income taxes refund (paid)		40,667,647,000		39,490,141,000
+ (-) Other inflows (outflows) of cash		0		0
Net cash flows from (used in) operating activities		137,732,362,000		149,372,176,000
Cash flows from (used in) investing activities [abstract]
+ Cash flows from losing control of subsidiaries or other businesses		0		4,282,383,000
- Cash flows used in obtaining control of subsidiaries or other businesses		(2,543,240,000)		17,368,908,000
+ Other cash receipts from sales of equity or debt instruments of other entities		0		0

15 of 59

AMERICA MOVIL, S.A.B. DE C.V.	Consolidated
Ticker:   AMX	Quarter:   3   Year:   2023

Concept	Accumulated Current Year  2023-01-01 - 2023-09-30		Accumulated Previous Year  2022-01-01  - 2022-09-30
- Other cash payments to acquire equity or debt instruments of other entities		459,749,000		0
+ Other cash receipts from sales of interests in joint ventures		0		2,829,000
- Other cash payments to acquire interests in joint ventures		0		0
+ Proceeds from sales of property, plant and equipment		6,997,431,000		207,731,000
- Purchase of property, plant and equipment		89,136,571,000		101,368,792,000
+ Proceeds from sales of intangible assets		0		0
- Purchase of intangible assets		11,067,781,000		1,738,197,000
+ Proceeds from sales of other long-term assets		0		0
- Purchase of other long-term assets		0		0
+ Proceeds from government grants		0		0
- Cash advances and loans made to other parties		0		0
+ Cash receipts from repayment of advances and loans made to other parties		0		0
- Cash payments for futures contracts, forward contracts, option contracts and swap contracts		0		0
+ Cash receipts from futures contracts, forward contracts, option contracts and swap contracts		0		0
+ Dividends received		3,884,554,000		4,682,650,000
- Interest paid		0		0
+ Interest received		0		0
		0		0
+ (-) Other inflows (outflows) of cash		(4,273,348,000)		44,605,741,000
Net cash flows from (used in) investing activities		(91,512,224,000)		(66,694,563,000)
Cash flows from (used in) financing activities [abstract]
+ Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control		0		0
- Payments from changes in ownership interests in subsidiaries that do not result in loss of control		5,110,764,000		6,076,000
+ Proceeds from issuing shares		0		0
+ Proceeds from issuing other equity instruments		0		0
- Payments to acquire or redeem entity’s shares		7,688,327,000		20,920,392,000
- Payments of other equity instruments		0		0
+ Proceeds from borrowings		215,954,013,000		127,348,086,000
- Repayments of borrowings		183,386,854,000		120,911,994,000
- Payments of finance lease liabilities		0		0
- Payments of lease liabilities		29,629,934,000		25,349,068,000
+ Proceeds from government grants		0		0
- Dividends paid		16,274,725,000		29,523,313,000
- Interest paid		22,015,178,000		21,332,493,000
+ (-) Income taxes refund (paid)		0		0
+ (-) Other inflows (outflows) of cash		0		0
Net cash flows from (used in) financing activities		(48,151,769,000)		(90,695,250,000)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes		(1,931,631,000)		(8,017,637,000)
Effect of exchange rate changes on cash and cash equivalents [abstract]
Effect of exchange rate changes on cash and cash equivalents		(3,499,456,000)		(2,983,425,000)
Net increase (decrease) in cash and cash equivalents		(5,431,087,000)		(11,001,062,000)
Cash and cash equivalents at beginning of period		33,700,949,000		38,679,891,000
Cash and cash equivalents at end of period		28,269,862,000		27,678,829,000

16 of 59

  

Glossary of Terms

ARPU	Average Revenue per User. The ratio of service revenue in a given period to the average number of wireless subscribers in the same period.
Capex	Capital Expenditure. Accrued capital expenditures related to the expansion of the telecommunications infrastructure.
Churn	Disconnection Rate. The ratio of wireless subscribers disconnected during a given period to the number of wireless subscribers at the beginning of that period.
EBIT	Earnings Before Interest and Taxes, also known as Operating Profit.
EBIT margin	The ratio of EBIT to total operating revenue.
EBITDA	Earnings Before Interest, Taxes, Depreciation, and Amortization.
EBITDAaL	Earnings Before Interest, Taxes, Depreciation, and Amortization. Adjusted after lease payments.
EBITDA margin	The ratio of EBITDA to total operating revenue.
EPS (Mexican pesos)	Earnings per share. Total earnings in Mexican pesos divided by total shares.
Earnings per ADR (US$)	Total earnings in U.S. dollars divided by total ADRs equivalent.
Gross additions	Total number of subscribers acquired during the period.
Licensed pops	Licensed population. Population covered by the licenses that each of the companies manage.

Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary

  

Glossary of Terms

Market share	A company’s subscribers base divided by the total number of subscribers in that country.
MBOU	Megabytes of Use per subscriber. The ratio of wireless data in a given period to the average number of wireless subscribers in that same period. It is presented on a monthly basis.
Net subscriber additions	The difference in the subscriber base from one period to another. It is the different between gross additions and disconnections
Net debt	Total short and long term debt minus cash and marketable securities.
Net debt/ EBITDA	The ratio of total short and long-term debt minus cash and securities to trailing 12-month income before interest, taxes, depreciation and amortization.
Prepaid	Subscriber that may recharge a mobile phone. The client does not hold a contract with the company.
Postpaid	Subscriber that has a contract for the use of voice and data, mobile WiFi routers and machine-to-machine devices.
SAC	Subscriber Acquisition Cost. The sum of handset subsidies, marketing expenses and commissions to distributors for handset activation. Handset subsidy is calculated as the difference between equipment cost and equipment revenue.
Wireless penetration	The ratio of total wireless subscribers in any given country divided by the total population in that country.

Content
Highlights
Relevant events
Subscribers
América
Móvil
Consolidated
Mexico
Brazil
Colombia
Other South
America
Central
America and
Caribbean
Austria
Other
European
Currency
Exchange
Rates
Appendix
Glossary

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: October 19, 2023

AMÉRICA MÓVIL, S.A.B. DE C.V.
By :	/s/ Carlos José García Moreno Elizondo
Name:	Carlos José García Moreno Elizondo
Title:	Chief Financial Officer