Depreciation, taxes lowers America Movil’s Q4 net profit

www.WirelessFederation.com/news: Due to due to higher network depreciation charges and taxes, the fourth-quarter net profit of, Latin America’s largest mobile operator America Movil SAB fell 17.2%. The net profit went down from MXN15.65 billion, or MXN0.47 a share to 12.96 billion pesos ($1.01 billion), or MXN0.40 per local L share.

Thanks to a 48.7% jump in data-related sales, the revenue grew 13.4% to MXN107.1 billion and EBITDA rose 16.9% to MXN40.82 billion.

However, 6.6 million net subscribers additions in the quarter was reported by America Movil and 18.2 million for the full year, bringing its total wireless user base to 201 million across the Americas at the end of December.

According to the company, with the South American economies recovering more rapidly than anticipated from the crisis that shook the world towards the end of 2008, subscriber growth in those countries reaccelerated, helping America Movil surpass its net subscriber additions target for 2009