The América Móvil firm reports an increase of 8.4% in annual profit for 2018

The telecommunications company América Movil, of Mexican billionaire Carlos Slim, reported net profits of 48,512 million pesos (2,513.5 million dollars) in 2018, 8.4% more than the previous year.

These annual benefits are explained by the favorable result of 10,652 million pesos (551.9 million dollars) registered during the fourth quarter of 2018, the company said in its report to the financial markets.

This benefit for the fourth quarter of 2018 reversed the losses of 10,563 million pesos (547.3 million dollars) that were recorded in the same period of the previous year, the company said in its report.

The telecommunications giant said its annual operating profit increased 12.6% to 133,616 million pesos (6,923 million dollars, compared to 118,691 million pesos (6,149 million dollars) in the same period.

In 2018, the integral cost of financing represented 40,109 million dollars (2,078 million dollars), which was 7% less than that registered at the end of the previous year.

América Móvil indicated that its revenues for the fourth quarter of 2018 reached 262,259 million pesos (13,588 million dollars), 0.6% less compared to the same period of the previous year.

América Móvil’s EBITDA (gross adjusted operating profit) increased 3.2% year-on-year to reach 214,993 million pesos (11,139 million dollars) at the end of December 2018.

América Móvil’s net debt was 568,246 million pesos (29,442 million dollars) at the end of the year, 60,500 million pesos (3,134 million dollars) less than the 628,746 million pesos (32,577 million dollars) of December 2017 , added the company. (EFE) .-

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