America Movil saw its revenue growth slow to 0.6 percent in the fourth quarter of 2015, for a total of MXN 231 billion. Service revenues declined 1.5 percent, or 0.6 percent year-on year at constant exchange rates, in line with the preceding two quarters, due to the economic slowdown in Brazil as well as the increased regulation in Mexico. Mobile data revenues rose 10.3 percent, fixed data was up 7.9 percent, and pay-TV revenues grew 6.6 percent, helping to offset weakness in some mobile markets.
EBITDA fell 2.9 percent to MXN 63.9 billion, while net profit rose six-fold to MXN 15.7 billion, thanks to lower financing costs and forex losses. Net debt rose to MXN 585 billion, or 1.8 times EBITDA, from MXN 537 billion at the end of 2014. AMX proposed a dividend of MXN 0.28 per share, up from MXN 0.26 a year ago, and said it will also buy back up to MXN 12 billion of its shares.
America Movil finished the year with 367 million access lines, down 0.3 percent from 2014 due mainly to the disconnection of inactive mobile customers. The total includes 286 million mobile subscribers, 35 million landlines, 24 million broadband connections and 22 million pay-TV subscribers. The mobile base saw 2.9 million net disconnections in the fourth quarter, leading to a 1.4 percent decline of in the subscriber base compared to 2014. In the fixed market, the number of RGUs increased 3.6 percent year-on-year, mostly due to a 6.6 percent jump in broadband customers.