Carlos García MorenoOkay. Thank you, Vera, for hosting the call. Good morning, everyone. América Móvil added 500 million wireless subscribers in the third quarter, that’s more than a year before, bringing the total September to 16.4 million, well above reported for the period. Our greater coverage and data capabilities have been instrumental in our being able to expand rapidly our postpaid base. At 22%, its rate of growth was slightly more than twice that of prepaid. Absolutely all our operations, no exceptions, increase more rapidly in postpaid base than the prepaid one. Since then access has increased by 2.1 million units, over 13% year-on-year with Pay-TV service growing 34%. With 12.5 million clients, América Móvil has become the second largest Pay-TV company by clients outside the US. At the end of the month, we had 241 million wireless ops 11% year more than a year before, and in the fixed line platform, 56.6 million revenue generating units. Taken together, we had almost 300 million accesses at the end of September, 12% more than a year before. Revenues were up nearly 8% from the year earlier quarter, 8.6% at the cost of exchange rate to 167 billion pesos with mobile revenues expending 10.7% to 108 billion pesos and fixed line revenues increasing 3.2% to 60 billion pesos, helped along by Pay-TV revenues that were 58% year-on-year. I think last quarter mobile revenues were driven by data revenues, which increased 26%. The revenue figures reflect the impact of the 70% effective results in the mobile communication rates that took place in Mexico last May. Although part of the impact of these results had already been incorporated – the headquarters was the first one selecting the full impact of the change. Absolutely, all our operations registered revenue increases from a year before, with growth rates in Colombia, Chile, Ecuador, and Peru in the teens, and that of Argentina above 20%.
Platforms revenues continued to increase rapidly 35% year-on-year. Our South American operations presented strong revenue increases across all product lines. Throughout Mexico, Central America and the Caribbean saw solid increases in mobile data revenues that continue declines in fixed line both revenues.EBITDA totaled 64 billion pesos and was up 1% year-on-year or 1.8% at constant exchange rates, cost increases more rapidly and revenues principally in Mexico and Brazil. This came about after results were being done to expand the original capacity of private networks including backbones, metropolitan rings, backhaul, fiber to the work and to the home and generally all the elements of IP and PLF networks. And greater maintenance expenditures included the replacement of copper by fiber or the accelerated growth of our postpaid rates, and in Brazil of the cost associated with the development of the Pay-TV services, including subscriber acquisition cost and the purchase of content. EBITDA declined 2.7% in Mexico and approximately 7% in Brazil and the Caribbean. But it expanded approximately 40% in Chile and the U.S., more than 20% in Peru and Colombia, between 10% and 20% in Argentina and Ecuador, with Central America working 8%. Operating profit were down 3.3% basically because of an acceleration in depreciation charges in various countries to make room for the new investments being undertaken. Hence, depreciation charges increased 9.4% and now represent 14.2% of revenues. We obtained a net profit of 18.7 billion pesos in the quarter, it was down 21% from the year before on account of foreign exchange losses resulting from the sharp depreciation of various currencies vis-à-vis the US dollar and the fact that a portion of our net debt is exposed to dollars and other hard currencies. It is to be noted that approximately 12.5% of our revenues are dollar-based with nearly 4% more coming from countries with currencies pegged to the dollar. Accounting wise, exchange rate depreciation generated foreign exchange losses and the dollar exposure on the debt side, but do not generate the corresponding FX gains on the expected stream of dollar-based revenues. Read the rest of this transcript for free on seekingalpha.com