The telecommunications company América Móvil (AMX), owned by Carlos Slim, will not reduce its investments this year in Mexico, Latin America or other countries where it operates, as it will wield at least $8,200 million in 2024.
According to the director of the company which owns brands such as Telcel, Telmex or Claro, Daniel Hajj, in 2022, they announced investments of 24,000 million dollars in the next 3 years in all the regions where it operates.
During a call with analysts about their financial results, the manager explained that over the past year they have used resources for almost 7.9 billion dollars, for for 2023, they expect a Capex of around 8,200 million dollars.
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Similarly, Hajj explained that invest in the deployment of their 5G network, in radio space; Additionally, they see opportunities to increase their fiber in some countries, as well as their broadband, as well as digitalization across all of their businesses to reduce their costs.
The director pointed out that They already have around 100 cities with 5G coverage, which places América Móvil in a very good position, especially since its competitors are not really competitive on this technology.
América Móvil’s net income during the past year amounted to 76,159 million pesos, which represents a decrease of 60.4% compared to the previous year; it was only in the fourth quarter that the company recorded a 90% drop in profits, reaching 13,710 million pesos.
Slim’s company said its fourth-quarter sales were 216 billion pesos, equivalent to a 2.4% decline in annual figures, due to the peso appreciating against to all major operating currencies of the business, with the exception of the Brazilian real. .
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In its financial report, the telecommunications company announced that in 2022 it closed with 299.8 million cellular subscribers worldwide, which represented a growth of 7.6% compared to the reported 278.8 million. in 2021.
In Mexico alone, Slim’s company achieved a year-on-year increase of 2.9%, from 80.5 million mobile line customers to 82.8 million.
Regarding fixed lines, AMX recorded a small growth of 0.3%, from 73.1 million to 73.2 million in all the countries where it operates.
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