América Móvil (AMXL) Investor Presentation summary

Business overview and market position

• Operates in 23 countries with over 400 million access lines, making it one of the largest global telecom operators.

• Covers 630 million people, with 296.3 million subscribers in LATAM and 27.6 million in Europe.

• Market consolidation and organic growth have reinforced leadership in the LATAM telecom market.

• Mexico and Brazil contribute about 60% of revenue and EBITDA, with Austria and Colombia following at 18%.

• CENAM and CEE are the fastest-growing regions, while Mexico is recovering after a slowdown.

Financial performance and growth drivers

• LTM as of March 2025: $47B revenue, $18B EBITDA, $6.7B CAPEX, $25B net financial debt, 1.5x leverage ratio, $53B market cap.

• Fixed-line and mobile service revenues are growing at similar rates, with a 5.6% CAGR in service revenue.

• Broadband and corporate networks are the main drivers of fixed-line revenue growth.

• EBITDA growth is outpacing service revenue growth, supported by fixed-line expansion.

• 2024-2026 outlook: 4.0-5.5% service revenue growth, 4.5-6.5% EBITDA growth, 14-14.5% CAPEX/revenue, 1.35-1.5x leverage.

Capital structure, liquidity, and credit profile

• Maintains a low leverage ratio, consistently within guidance, reflecting financial discipline.

• MXN share of funding has increased, now over 40% of net debt.

• Bond maturities are well-distributed, with significant committed credit facilities in multiple currencies.

• Holds top credit ratings among Western telcos: A-, A-, Baa1.

• No material financial risks from currency, interest rate exposure, or debt refinancing.