América Móvil to invest USD 8 billion in 2018

América Móvil plans to spend around USD 8 billion on capital expenditure this year. During a call with analysts on Wednesday, Chief Executive Officer Daniel Hajj said the company will continue to invest in Brazil and Mexico, its main markets.
América Móvil presented its financial statement of Q417, in which it reported a net loss of MX$ 11.295 billion (USD 606 million), a decrease of 89.1% compared to the same period of 2016. Fourth quarter revenues were MX$ 264 billion (USD 14.2 billion), down 2.0% compared to previous year, affected by the depreciation of the Mexican peso.
“Fourth quarter figures were affected by a major revenue loss in Puerto Rico in the aftermath of hurricane Maria that hit the island in September”, said the company in its report.
As of Q417, América Móvil reported 279 million wireless subscribers globally (including Austria, Eastern Europe and the United States) and close to 83 million fixed line accesses (fixed telephony, broadband and television including DTH).
The company highlighted in the report that it has obtained “the necessary regulatory approvals to begin selling pay TV in Argentina in 2018. We are committed to build an important number of homes passed to strengthen our fixed business in the country”.
In addition, América Móvil said that pay TV accesses expanded 15.1% in Paraguay. However, in Brazil, the company’s main TV market, fixed RGUs were down 2.2% after net disconnections of 170,000 pay TV units.