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America Movil's CEO Discusses Q2 2011 Results - Earnings Call Transcript

On the fixed line side, we increased by 1.4 million our revenue generating unit to 54 million with safety results growing 34% year-on-year. Altogether, we had 290 million accesses at the end of June, 12.1% more than a year before.

The growth of fixed line accesses has accelerated on the back of bundled offerings, double play and triple play that are becoming increasingly popular. Year-on-year, fixed line accesses increased nearly 14%.

Revenue grew 7.8% from the year earlier quarter to 150 million pesos. Mobile revenue expanded 9.4% to 101 billion pesos whereas fixed line revenues increased 5.2% to 58 billion pesos swept along by PayTV revenues that expanded 71% year-on-year. So, total revenues then accelerated from a bit more than 6% the prior year quarter to 7.8 percentage point this quarter.

Mobile revenues were driven by data revenues that increased 26.7%. Their overall expansion, already will select the impact of 71% effective reduction in mobile termination rates that took place in Mexico. From May 17th, all operators have terminated call – on the call center sales network, beyond the interconnection charges at the reduced termination rates by Cofetel, which are equivalent to $2.2 or 1.65 euros. In example, including Mexico and three European countries, this interconnection rate was the second lowest with 35% penetration rates substantially higher in euro.

Their sales net interconnection revenues came down by almost 4% at this point revenue from the prior year. Growth interconnection revenues came down by 50.2% in absolute terms and by 5.1% revenues. Several of our operations registered double-digit revenue growth in the second quarter. In Mexico, Central America and the Caribbean, revenue growth was more subdued, in Europe 2% because of the continued decline of fixed line voice revenues and the reduction in mobile and fixed line termination rates in Mexico.

In Brazil annual revenue growth accelerated from 5.7% in the first quarter to 8.8% in the second quarter. EBITDA totaled 62 billion pesos and was up 1.8% year-on-year, would be merging up our Mexican operations falling 3.4% percentage points, the loss of net interconnection revenues for Mexico and wide increase on wireless platform. Greater expenses for customer care, the procurement of content, subscriber growth basically subscriber acquisition cost.

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