Mexico City, October 27, 2011 - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX] [NASDAQ: AMOV] [LATIBEX: XAMXL], announced today its financial and operating results for the third quarter of 2011.

América Móvil finished September with 298 million accesses, 11.7% more than in the same quarter of 2010.  This figure comprises 241.5 million wireless subscribers, 29.3 million landlines, 14.6 million broadband accesses and 12.5 million PayTV units. Wireless subscribers increased 11.4% and fixed-line RGUs 12.9%.

We added 5.5 million wireless subscribers in the third quarter, slightly more than the prior year, with postpaid subscribers growing twice as fast, 22%, as prepaids. They now account for 15% of our subscribers in the region excluding the US.

The quarter’s EBITDA was up 1.0% from the prior year to 64 billion pesos, and the margin for the period stood at 38.2%. It was down as a result of greater costs associated with the expansion, maintenance and integration of our mobile and wire-line networks primarily in Mexico and Brazil and to greater costs associated with the growth of our postpaid and PayTV subscriber base and the procurement of content.

Operating profits of nearly 40 billion pesos in the quarter were down 3.3% year-on-year whereas our net profit of 18.7 billion pesos declined 21% on account of foreign exchange losses registered in the quarter. Our net profit was equivalent to 24 peso cents per share. Year-to-date net profit was slightly higher than the year before, 0.8%.

Our cash flow helped us finance most of the 134 billion pesos in outlays in the first nine monts of the year. These include capital expenditures of 73 billion pesos, the purchase of minority interests in the aggregate amount of 5 billion pesos and share buybacks and dividends totaling 56 billion pesos. Our net debt increased 40 billion pesos in the period to 247 billion pesos.

Wireless Subscribers

We added 5.5 million subscribers in the third quarter, 3.5% more than the prior year, bringing to 16.4 million the total for the nine months to September. Brazil was the leader in net subscriber gains with almost two million followed by Mexico with 1.1 million. Colombia and Tracfone gained just over 500 thousand subs each and Argentina and Peru almost 400 thousand each. Our operations in Central America and the Caribbean registered 311 thousand additions in the quarter and Chile and Ecuador 162 and 152 thousand subscribers, respectively.

Net additions in Brazil, Argentina, Colombia and Peru were greater than those of the same quarter of the prior year. In the postpaid segment, net adds exceeded by 15.6% those obtained the year before; in Colombia and the Caribbean, they were seven times greater rising by more than 20% in Brazil Ecuador and Peru. At the end of September, we had 33.0 million postpaid wireless subscribers in our region of operations, 22.2% more than in the year-earlier quarter.

At the end of the September, our subscriber base comprised 68 million subscribers in Mexico, 57.5 million in Brazil, 31.2 million in Colombia and 19 million in each Argentina an the United States. Chile exhibited the fastest pace of growth, 22.3% year-on-year, and finished the period with 5.4 million subscribers.

Wireless Subscribers as of September 2011

Thousands

Total(1)

Country

Sep'11

Jun'11

Var.%

Sep'10

Var.%

Mexico

68,002

66,912

1.6%

62,440

8.9%

Brazil

57,514

55,534

3.6%

48,767

17.9%

Chile

5,361

5,199

3.1%

4,385

22.3%

Argentina, Paraguay & Uruguay

20,123

19,733

2.0%

19,442

3.5%

Colombia

31,197

30,683

1.7%

28,641

8.9%

Ecuador

11,209

11,056

1.4%

10,328

8.5%

Colombia

31,197

30,683

1.7%

28,641

8.9%

Peru

10,756

10,376

3.7%

9,294

15.7%

Central America & The Caribbean

18,021

17,709

1.8%

16,883

6.7%

USA

19,269

18,754

2.7%

16,657

15.7%

Total Wireless Lines

241,451

235,957

2.3%

216,836

11.4%

Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated. *Central America includes Panama in every table.

Fixed Revenue Generating Units

We had 56.4 million revenue generating units (RGUs) at the end of September, 12.9% more than a year before. Our operations in the South Cone, which have shown high dynamism, registered an annual growth rate of 26.5%, with broadband accesses rising 28.7% and PayTV subscriptions 32.4%.

At the end of the period, we had almost as many RGUs in Brazil as in Mexico. Our fastest growing operations were Peru and Ecuador, which registered annual increases of 59.5% and 68.3%, respectively; followed by Brazil, 28.1%, and Chile, 27.4 %.

América Móvil Consolidated Results

Good economic momentum kept subscriber and top line growth of our Latin American operations at sound levels, with third quarter wireless net additions up nearly 10% over the second one—even though the second one had Mother’s Day, the second best sales holiday in the year—and fixed-line Revenue Generating Units (RGUs) sticking to their 13% annual growth pace. Our greater 3G coverage and data capabilities allowed us to continue to expand our postpaid base twice as fast, 22%, as the prepaid one.

Our South American operations presented strong revenue increases across all product lines whereas Mexico, Central America and the Caribbean saw solid increases in mobile data revenues but continued declines in fixed-line voice revenues.

Third quarter EBITDA was up 1.0% from the year-earlier quarter to 64 billion pesos as costs expanded more rapidly than revenues in Mexico and Brazil on account of work being done to expand the reach and capacity of fiber networks—including backbones, metropolitan rings, backhaul, fiber to the node and to the home and generally all the elements of IP-MPLS networks—of greater maintenance expenditures; of the accelerated growth of our postpaid base; and—in Brazil—of the costs associated with the development of PayTV services including the purchase of content.  Whereas EBITDA declined 2.7% in Mexico, and around 7% in Brazil and the Caribbean, it expanded approximately 40% in Chile and the U.S., more than 20% in Peru and Colombia and between 10% and 20% in Argentina and Ecuador, with Central America’s rising 8%.

America Movil's Income Statement (IFRS)

Millions of Mexican pesos

check

check

check

3Q11

3Q10

Var.%

Jan - Sep 11

Jan - Sep 10

Var.%

Net Service Revenues

152,306

141,728

7.5%

440,371

411,193

7.1%

Equipment Revenues

14,953

13,267

12.7%

42,822

38,831

10.3%

Total Revenues

167,258

154,995

7.9%

483,193

450,024

7.4%

Cost of Service

50,961

45,048

13.1%

141,493

126,121

12.2%

Cost of Equipment

22,701

20,779

9.3%

65,234

59,616

9.4%

Selling, General & Administrative Expenses

28,764

25,105

14.6%

85,642

75,298

13.7%

Others

883

759

16.3%

2,769

2,436

13.7%

Total Costs and Expenses

103,309

91,691

12.7%

295,138

263,470

12.0%

EBITDA

63,949

63,305

1.0%

188,054

186,553

0.8%

% of Total Revenues

38.2%

40.8%

38.9%

41.5%

Depreciation & Amortization

23,738

21,706

9.4%

68,837

63,332

8.7%

Employee Profit Sharing

890

953

-6.7%

2,984

3,135

-4.8%

EBIT

39,321

40,645

-3.3%

116,234

120,086

-3.2%

% of Total Revenues

23.5%

26.2%

24.1%

26.7%

Net Interest Expense

3,396

3,766

-9.8%

9,901

9,306

6.4%

Other Financial Expenses

-12,847

4,646

-376.5%

-8,544

10,897

-178.4%

Foreign Exchange Loss

22,185

-62

n.m.

15,694

-3,665

n.m.

Comprehensive Financing Cost (Income)

12,735

8,350

52.5%

17,051

16,538

3.1%

Income & Deferred Taxes

6,926

7,705

-10.1%

30,070

31,766

-5.3%

Net Income before Minority Interest and Equity

19,660

24,590

-20.0%

69,113

71,782

-3.7%

Participation in Results of Affiliates

minus

Equity Participation in Results of Affiliates

505

274

84.1%

1,804

632

185.5%

Minority Interest

-1,483

-1,158

-28.0%

-4,573

-6,577

30.5%

Net Income

18,682

23,706

-21.2%

66,344

65,836

0.8%

Balance Sheet (in accordance with IFRS)

América Móvil Consolidated

Millions of Mexican Pesos

Sep '11

Dec '10

Var.%

Sep '11

Dec '10

Var%

Current Assets

Current Liabilities

Cash & Securities

126,658

114,069

11.0%

Short Term Debt**

41,928

9,039

363.9%

Accounts Receivable

122,988

98,486

24.9%

Accounts Payable

162,258

146,049

11.1%

Other Current Assets

17,375

13,206

31.6%

Other Current Liabilities

40,431

49,455

-18.2%

Inventories

28,868

26,082

10.7%

244,617

204,543

19.6%

295,890

251,842

17.5%

Non Current Assets

Plant & Equipment

429,757

411,820

4.4%

Investments in Affiliates

52,506

50,539

3.9%

Non Current Liabilities

Long Term Debt

332,065

312,083

6.4%

Deferred Assets

Other Non Current Liabilities

44,009

42,053

4.7%

Goodwill (Net)

72,134

70,919

1.7%

376,074

354,136

6.2%

Intangible

42,303

49,053

-13.8%

Deferred Assets

69,957

60,651

15.3%

Shareholder's Equity

341,856

336,146

1.7%

Total Assets

962,547

894,825

7.6%

Total Liabilities and Equity

962,547

894,825

7.6%

Through September revenues totaled 483 billion pesos and EBITDA 188 billion pesos.  They were up 7.4% and 0.8% respectively relative to the same period of 2010.  Comprehensive financing costs—which include foreign exchange losses—came in at 17 billion pesos and were 3% higher than the prior year. Our net profit for the period, 66 billion pesos, rose at the same pace as EBITDA.

Financial Debt of América Móvil*

Millions of U.S. Dollars

Sep-11

Dec-10

Peso Denominated Debt

5,529

6,362

Bonds and other securities

5,525

6,359

Banks and others

4

4

U.S. Dollar - denominated debt

14,116

11,930

Bonds and other securities

11,998

9,250

Banks and others

2,118

2,679

Debt denominated in other currencies

8,220

7,695

Bonds and other securities

6,403

6,003

Banks and others

1,817

1,692

Total Debt

27,865

25,987

* This table does not include the effect of forwards and derivatives used to hedge the foreign exchange exposure

Mexico

We finished September with 90 million accesses in Mexico, of which 68 million were wireless subscribers. We added 1.1 million wireless clients in the third quarter, roughly as many as the previous year.  Through September our wireless subscriber base had increased 9% year-on-year, with postpaid subs growing twice as fast. On the wireline platform RGUs were almost flat, +1% annually, as the decline in telephony lines offset for the most part the increase in fixed-broadband lines.

INCOME STATEMENT (IFRS) 

México

Millions of MxP

check

3Q11

3Q10

Var.%

Jan - Sep 11

Jan - Sep 10

Var.%

Total Revenues

63,525

62,001

2.5%

187,900

184,254

2.0%

Wireless Revenues

37,434

36,440

2.7%

111,643

107,723

3.6%

Fixed Line and Other Revenues

27,456

28,549

-3.8%

81,973

85,426

-4.0%

EBITDA

32,002

32,894

-2.7%

96,198

98,808

-2.6%

% total revenues

50.4%

53.1%

51.2%

53.6%

EBIT

25,269

25,761

-1.9%

75,448

76,854

-1.8%

%

39.8%

41.5%

40.2%

41.7%

Argentina, Paraguay and Uruguay

Our combined operations in Argentina, Paraguay and Uruguay added 390 thousand wireless subscribers in the quarter (36.9% more than in 2010) and broke the 20 million-subscriber mark. Our subscriber base was 3.5% higher than in the precedent year. We also had 275 thousand RGUs, 34.6% more than a year before.

Millions of ARP

check

3Q11

3Q10

Var.% 

Jan - Sep 11

Jan - Sep 10

Var.%

Total Revenues

3,031

2,518

20.4%

8,689

7,187

20.9%

Wireless Revenues

2,858

2,373

20.5%

8,185

6,776

20.8%

Fixed Line and Other Revenues

178

153

16.3%

516

434

19.1%

EBITDA

1,199

1,074

11.6%

3,583

3,048

17.6%

% total revenues

39.6%

42.7%

41.2%

42.4%

EBIT

986

885

11.4%

2,970

2,489

19.3%

%

32.5%

35.1%

34.2%

34.6%

Argentina, Uruguay & Paraguay Operating Data (IFRS)

3Q11

3Q10

Var.%

Wireless Subscribers (thousands)

20,123

19,442

3.5%

Postpaid

2,704

2,460

9.9%

Prepaid

17,419

16,982

2.6%

MOU

153

141

8.8%

ARPU (ARP)

46

39

18.0%

Churn (%)

2.4%

2.4%

(0.0)

Revenue Generating Units (RGUs)

275

205

34.6%

Brazil