Foreign Filer Report • Oct 16, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF A FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2025
Commission File Number: 1-16269
AMÉRICA MÓVIL, S.A.B. DE C.V.
(Exact Name of the Registrant as Specified in its Charter)
America Mobile
(Translation of Registrant’s name into English)
Lago Zurich 245
Plaza Carso / Edificio Telcel, Piso 16
Colonia Ampliación Granada, Alcaldía Miguel Hidalgo
11529, Mexico City
Mexico
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Mexico City - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the third quarter of 2025.
• We added just over three million postpaid clients in the third quarter with Brazil contributing 1.5 million, followed by Colombia with 251 thousand, Peru with 198 thousand; and Mexico with 98 thousand. On the prepaid platform we recorded net disconnections of 31 thousand, resulting from losses in Brazil, Ecuador and Chile, which offset net subscriber additions obtained in several countries including Argentina 253 thousand, Colombia 237 thousand, and Mexico 136 thousand.
• In the fixed-line segment we gained 526 thousand broadband accesses, including 211 thousand in Mexico, 86 thousand in Brazil, 56 thousand in Argentina and 51 thousand in Colombia.
• Third quarter revenues totaled 232.9 billion Mexican pesos. They were up 4.2% in Mexican peso terms and 6.2% at constant exchange rates, with service revenue also expanding at the 6.2% pace.
• Mobile service revenue growth accelerated to a 7.1% pace at constant exchange rates on the back of stronger prepaid revenue growth: 3.9% vs. 3.1% in the second quarter. Postpaid revenue climbed 9.1%.
• On the fixed-line platform service revenue increased 4.7% at constant exchange rates having decelerated on account of a reduction in the rate of growth of corporate networks revenue.
• EBITDA totaled 93.8 billion Mexican pesos and was up 4.9% in Mexican peso terms and 6.8% at constant exchange rates from the year-earlier quarter—adjusting for tower sales a year ago—, with the EBITDA margin remaining practically unchanged at 40.3%.
• Our operating profit came in at 50.1 billion Mexican pesos and was up 5.6% in nominal terms and 6.4% at constant exchange rates. With our comprehensive financing costs roughly cut in half compared to those of the year-earlier quarter, our net income totaled 22.7 billion Mexican pesos.
• In the nine months to September our free cash flow allowed us to cover 28.6 billion pesos of shareholders distributions—including 10.8 billion pesos in share buybacks— increase our equity investments by 1.0 billion pesos; fund 10.0 billion pesos of the labor obligation amount due this year; and reduce our net debt by 15.7 billion pesos.
• At the end of September our net debt (excluding leases) stood at 454 billion pesos and was equivalent to 1.55 times Net Debt/LTM EBITDAaL.
| Content |
|---|
| ● |
| Highlights |
| Relevant |
| events |
| Subscribers |
| América |
| Móvil |
| Consolidated |
| Mexico |
| Brazil |
| Colombia |
| Central America |
| Other South |
| America |
| Southern |
| Cone |
| The |
| Caribbean |
| Austria and |
| Eastern |
| Europe |
| Currency |
| Exchange |
| Rates |
| Appendix |
| Glossary |
We will host our conference call to discuss 3Q25 financial and operating results on October 15th at 9:00 am Mexico City time. To access the call please log on to www.americamovil.com/investors
| América Móvil Fundamentals | 3Q25 | 3Q24 |
|---|---|---|
| Earnings per Share (Mex$) (1) | 0.38 | 0.10 |
| Earning per ADR (US$) (2) | 0.40 | 0.11 |
| EBITDA per Share (Mex$) (3) | 1.55 | 1.45 |
| EBITDA per ADR (US$) | 1.67 | 1.54 |
| Net Income (millions of Mex$) | 22,700 | 6,427 |
| Average Shares Outstanding (billion) | 60.4 | 61.5 |
| Shares Outstanding End of Period (billion) | 60.3 | 61.4 |
| (1) Net Income / Average Shares Outstanding (2) 20 shares per ADR (3) EBITDA / Average Shares Outstanding |
| América Móvil’s Subsidiaries as of September 2025 — Country | Brand | Main Activity | Equity |
|---|---|---|---|
| Mexico | Telcel | wireless | 100.0% |
| Telmex | wireline | 100.0% | |
| Argentina | Claro | wireless/wireline | 100.0% |
| Austria | A1 | wireless/wireline | 60.8% |
| EuroTeleSites | towers | 57.0% | |
| Brazil | Claro | wireless/wireline | 99.6% |
| Chile | Claro | wireless/wireline | 100.0% |
| Colombia | Claro | wireless/wireline | 99.4% |
| Costa Rica | Claro | wireless/wireline | 100.0% |
| The Dominican Republic | Claro | wireless/wireline | 100.0% |
| Ecuador | Claro | wireless/wireline | 100.0% |
| El Salvador | Claro | wireless/wireline | 97.8% |
| Guatemala | Claro | wireless/wireline | 99.3% |
| Honduras | Claro | wireless/wireline | 100.0% |
| Nicaragua | Claro | wireless/wireline | 99.6% |
| Paraguay | Claro | wireless/wireline | 100.0% |
| Peru | Claro | wireless/wireline | 100.0% |
| Puerto Rico | Claro | wireless/wireline | 100.0% |
| Uruguay | Claro | wireless | 100.0% |
| Content |
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| ● |
| Highlights |
| Relevant |
| events |
| Subscribers |
| América |
| Móvil |
| Consolidated |
| Mexico |
| Brazil |
| Colombia |
| Central America |
| Other South |
| America |
| Southern |
| Cone |
| The |
| Caribbean |
| Austria and |
| Eastern |
| Europe |
| Currency |
| Exchange |
| Rates |
| Appendix |
| Glossary |
Relevant Events
EUR 650M bond with a 3% coupon
After a six year absence we returned to the euro market on September 24th with a 5-year 650 million euro bond with a 3% coupon. The yield on the bond was 68 basis points above the mid-swaps reference point, making it the second tightest spread achieved by a telecom company in the five-year tenor over the last two years. The proceeds will be directed to the payment of short term debt under our Euro commercial paper program.
Access Lines
3.1M postpaid net adds
We added just over three million postpaid clients in the third quarter with Brazil contributing 1.5 million, followed by Colombia with 251 thousand, Peru with 198 thousand, and Mexico with 98 thousand. On the prepaid platform we recorded net disconnections of 31 thousand, resulting from losses in Brazil, Ecuador and Chile, which offset net subscriber additions obtained in several countries including Argentina 253 thousand, Colombia 237 thousand, and Mexico 136 thousand.
526k new broadband accesses
In the fixed-line segment we gained 526 thousand broadband accesses, including 211 thousand in Mexico, 86 thousand in Brazil, 56 thousand in Argentina and 51 thousand in Colombia. Meanwhile, voice lines and PayTV units declined by 82 thousand and 48 thousand, respectively, during the quarter. At the end of September we had 407.6 million accesses of which 140 million were postpaid clients and 79 million fixed-line RGUs. Year-over-year our postpaid base increased 8.1% and broadband accesses 5.1%.
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| América | |
| Móvil | |
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| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
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| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
| Wireless subscribers as of September 2025 | |||||
|---|---|---|---|---|---|
| Total ( 1 ) (Thousands) | |||||
| Country | Sep '25 | Jun '25 | Var.% | Sep '24 | Var.% |
| Argentina | 27,073 | 26,679 | 1.5% | 25,621 | 5.7% |
| Austria and Eastern Europe (2) | 29,289 | 28,306 | 3.5% | 26,666 | 9.8% |
| Brazil | 89,261 | 88,412 | 1.0% | 88,276 | 1.1% |
| Central America | 17,101 | 16,952 | 0.9% | 16,969 | 0.8% |
| Caribbean | 8,007 | 7,955 | 0.7% | 7,836 | 2.2% |
| Colombia | 42,165 | 41,677 | 1.2% | 40,597 | 3.9% |
| Ecuador | 9,677 | 9,996 | -3.2% | 9,689 | -0.1% |
| Mexico | 84,345 | 84,110 | 0.3% | 84,171 | 0.2% |
| Peru | 13,067 | 12,793 | 2.1% | 12,772 | 2.3% |
| Southern Cone (3) | 8,771 | 8,776 | -0.1% | 9,142 | -4.1% |
| Total Wireless Lines | 328,755 | 325,656 | 1.0% | 321,740 | 2.2% |
| (1) 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. | |||||
| (2) Includes A1 Digital M2M subscribers. | |||||
| (3) Includes Chile, Paraguay and Uruguay. |
| Fixed-Line and Other Accesses (RGUs) as of September 2025 | |||||
|---|---|---|---|---|---|
| Total (1) (Thousands) | |||||
| Country | Sep '25 | Jun '25 | Var.% | Sep '24 | Var.% |
| Argentina | 3,983 | 3,858 | 3.2% | 3,571 | 11.5% |
| Austria and Eastern Europe | 6,412 | 6,395 | 0.3% | 6,293 | 1.9% |
| Brazil | 21,867 | 22,032 | -0.7% | 22,509 | -2.9% |
| Central America | 5,540 | 5,417 | 2.3% | 5,120 | 8.2% |
| Caribbean | 2,895 | 2,878 | 0.6% | 2,829 | 2.3% |
| Colombia | 9,653 | 9,634 | 0.2% | 9,561 | 1.0% |
| Ecuador | 733 | 672 | 9.1% | 579 | 26.6% |
| Mexico | 22,545 | 22,327 | 1.0% | 21,815 | 3.3% |
| Peru | 1,988 | 1,952 | 1.9% | 1,948 | 2.1% |
| Southern Cone (2) | 3,235 | 3,291 | -1.7% | 3,481 | -7.1% |
| Total RGUSs | 78,852 | 78,457 | 0.5% | 77,704 | 1.5% |
| (1) Includes total accesses of all companies in which América | |||||
| Móvil holds an economic interest; does not consider the date in which the companies started being consolidated. Includes fixed-line, broadband and television (Cable & DTH) accesses. (2) Includes Chile, Paraguay and Uruguay. |
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| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
| Broadband accesses as of September 2025 | |||||
|---|---|---|---|---|---|
| Total (1) (Thousands) | |||||
| Country | Sep ’25 | Jun ’25 | Var.% | Sep ’24 | Var.% |
| Argentina | 1,665 | 1,609 | 3.5% | 1,478 | 12.6% |
| Austria and Eastern Europe | 2,852 | 2,833 | 0.7% | 2,769 | 3.0% |
| Brazil | 10,530 | 10,444 | 0.8% | 10,204 | 3.2% |
| Central America | 1,844 | 1,788 | 3.1% | 1,645 | 12.1% |
| Caribbean | 1,130 | 1,117 | 1.2% | 1,076 | 5.1% |
| Colombia | 3,519 | 3,467 | 1.5% | 3,421 | 2.8% |
| Ecuador | 407 | 382 | 6.6% | 344 | 18.2% |
| Mexico | 11,816 | 11,605 | 1.8% | 11,077 | 6.7% |
| Peru | 1,112 | 1,089 | 2.1% | 1,048 | 6.1% |
| Southern Cone(2) | 1,573 | 1,587 | -0.9% | 1,631 | -3.6% |
| Total Broadband Accesses | 36,447 | 35,921 | 1.5% | 34,694 | 5.1% |
| (1) Includes total accesses of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated. (2) Includes Chile, Paraguay and Uruguay. |
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| events | |
| Subscribers | ● |
| América | |
| Móvil | |
| Consolidated | |
| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
América Móvil Consolidated Results
In the third quarter, with the U.S. economy finally appearing to slow down as evidenced by a sharp decline in the number of new jobs created, the Fed went ahead with the much-anticipated reduction in its policy interest rate, which was brought down by 25 basis points in September. Since mid-July long term interest rates had been on a downward trend with ten-year rates falling from nearly 4.5% to 4.1% at the end of the quarter. With lower interest rates and the expectation of further interest rate cuts by the Fed, the U.S. dollar lost ground vs. practically all currencies in our region of operations, declining -2.7% vs. the Mexican peso; -2.5% vs. the Brazilian real and -4.1% vs. the Colombian peso. The dollar remained practically flat vs. the euro with the Argentine peso the only major exception in the period that depreciated vs. the dollar.
Third quarter revenues totaled 232.9 billion Mexican pesos. They were up 4.2% in Mexican peso terms and 6.2% at constant exchange rates, with service revenue also expanding at the 6.2% pace. The difference between the rate of growth in nominal terms vs. that at constant exchange rates mainly reflects the appreciation of the Mexican peso vs. the U.S. dollar, the Chilean peso and the Argentine peso as the former remained practically flat vs. the Brazilian real and the Colombian peso.
On the mobile platform service revenue posted its best rate of growth in over a year, 7.1%, helped along by the continued recovery of prepaid revenue. The latter expanded 3.9%, the fastest pace in two years, while postpaid revenue climbed 9.1%, very similar pace to that of the precedent quarter, which was the quickest one in ten quarters. Mexico, Colombia and Chile were the main operations behind the acceleration of mobile service revenue growth.
As for fixed-line service revenue, it decelerated to 4.7% from 7.9% the prior quarter. This deceleration has to do with the significant slowdown registered in corporate networks revenue, which fell from a 15.0% increase in the second quarter to a 3.5% increase in the third. Corporate networks revenue tends to be more volatile as it is associated with the pipeline of corporate networks contracts and IT projects. We are an increasingly relevant player in this business segment which is an ever more important revenue item for us: its share of fixed-line service revenue has reached 21%.
EBITDA totaled 93.8 billion Mexican pesos and was up 4.9% in Mexican peso terms and 6.8% at constant exchange rates from the year-earlier quarter— adjusting for tower sales a year ago— with the EBITDA margin remaining practically unchanged at 40.3%.
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| Highlights | |
| Relevant | |
| events | |
| Subscribers | |
| América | ● |
| Móvil | |
| Consolidated | |
| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
Our operating profit came in at 50.1 billion Mexican pesos and was up 5.6% in nominal terms and 6.4% at constant exchange rates. With our comprehensive financing costs roughly cut in half compared to those of the year-earlier quarter our net income surged to 22.7 billion Mexican pesos. It was equivalent to 38 Mexican pesos cents per share or 40 dollars cents per ADR.
We ended up with 137.9 billion pesos in operating cash flow in the nine months to September after deducting from our EBITDAaL (EBITDA after leases) 33.5 billion in increased working capital and 66.9 billion pesos for interest payments and taxes in the period. Since capital expenditures totaled 84.9 billion pesos over that period, our free cash flow amounted to 53.0 billion pesos, compared to 36.1 billion pesos in the same period of the preceding year, a 47.0% year-on-year increase.
The former amount plus 2.3 billion pesos in dividend income allowed us to distribute 28.6 billion pesos to our shareholders—including 10.8 billion pesos in share buybacks— increase our equity investments by 1.0 billion pesos; pay out 10.0 billion pesos of our labor obligations due this year; and reduce our net debt by 15.7 billion pesos.
At the end of September our net debt stood at 454 billion pesos and was equivalent to 1.55 times Net Debt/LTM EBITDAaL.
| Content | |
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| Highlights | |
| Relevant | |
| events | |
| Subscribers | |
| América | ● |
| Móvil | |
| Consolidated | |
| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
| América Móvil’s Income Statement | ||||||
|---|---|---|---|---|---|---|
| Millions of Mexican pesos | ||||||
| 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% | |
| Service Revenue | 196,307 | 188,170 | 4.3% | 592,770 | 534,198 | 11.0% |
| Equipment Revenue | 34,083 | 32,247 | 5.7% | 98,761 | 90,260 | 9.4% |
| Other Revenue | 2,528 | 3,041 | -16.9% | 7,211 | 7,822 | -7.8% |
| Total Revenue | 232,919 | 223,458 | 4.2% | 698,741 | 632,280 | 10.5% |
| Cost of Service | 57,390 | 56,611 | 1.4% | 176,683 | 160,684 | 10.0% |
| Cost of Equipment | 29,917 | 28,125 | 6.4% | 86,222 | 77,856 | 10.7% |
| Selling, General & Administrative Expenses | 50,173 | 47,364 | 5.9% | 153,971 | 135,654 | 13.5% |
| Others | 1,617 | 1,937 | -16.5% | 4,584 | 4,966 | -7.7% |
| Total Costs and Expenses | 139,096 | 134,036 | 3.8% | 421,461 | 379,160 | 11.2% |
| EBITDA | 93,823 | 89,422 | 4.9% | 277,280 | 253,120 | 9.5% |
| % of Total Revenue | 40.3% | 40.0% | 39.7% | 40.0% | ||
| Adjusted EBITDA (1) | 93,823 | 89,154 | 5.2% | 277,280 | 252,597 | 9.8% |
| % of Total Revenue | 40.3% | 39.9% | 39.7% | 40.0% | ||
| Depreciation & Amortization | 43,699 | 41,979 | 4.1% | 135,005 | 119,411 | 13.1% |
| EBIT | 50,123 | 47,443 | 5.6% | 142,275 | 133,709 | 6.4% |
| % of Total Revenue | 21.5% | 21.2% | 20.4% | 21.1% | ||
| Net Interest Expenses | 13,290 | 11,464 | 15.9% | 39,726 | 34,410 | 15.4% |
| Other Financial Expenses | 5,910 | -7,722 | 176.5% | 10,426 | -10,541 | 198.9% |
| Foreign Exchange Loss | -6,301 | 24,582 | -125.6% | -16,084 | 58,373 | -127.6% |
| Comprehensive Financing Cost (Income) | 12,899 | 28,323 | -54.5% | 34,068 | 82,241 | -58.6% |
| Income & Deferred Taxes | 12,863 | 9,622 | 33.7% | 40,577 | 25,061 | 61.9% |
| Net Income before Minority Interest and Equity Participation in Results of Affiliates | 24,361 | 9,498 | 156.5% | 67,631 | 26,407 | 156.1% |
| Equity Participation in Results of Affiliates | 40 | -1,647 | 102.4% | 106 | -4,372 | 102.4% |
| Minority Interest | -1,701 | -1,424 | -19.4% | -4,051 | -3,207 | -26.3% |
| Net Income | 22,700 | 6,427 | 253.2% | 63,685 | 18,828 | 238.3% |
| ( 1) Adjusted for extraordinary items, particularly the sale of towers | ||||||
| by Telmex in the first quarter of 2024. Note: The reported figures for Argentina | ||||||
| corresponding to the third quarter of 2025 are presented in accordance with IAS29 reflecting the effects of inflationary accounting as the Argentinean economy is deemed to be hyperinflationary. All comparisons at constant | ||||||
| exchange rates for América Móvil’s consolidated figures will exclude Argentina to ensure consistency. |
| Content | |
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| events | |
| Subscribers | |
| América | ● |
| Móvil | |
| Consolidated | |
| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
Balance Sheet - América Móvil Consolidated Millions of Mexican Pesos
| Sep '25 | Dec '24 | Var.% | Sep '25 | Dec '24 | Var.% | ||
|---|---|---|---|---|---|---|---|
| Current Assets | Current Liabilities | ||||||
| Cash, Marketable Securities & Other Short Term Investments | 96,588 | 83,336 | 15.9% | Short Term Debt (1) | 87,073 | 104,211 | -16.4% |
| Accounts Receivable | 248,742 | 231,791 | 7.3% | Lease-Related Debt | 32,198 | 35,437 | -9.1% |
| Other Current Assets | 21,075 | 14,820 | 42.2% | Accounts Payable | 140,213 | 155,697 | -9.9% |
| Inventories | 24,947 | 23,751 | 5.0% | Other Current Liabilities | 223,475 | 199,056 | 12.3% |
| 391,351 | 353,698 | 10.6% | 482,960 | 494,401 | -2.3% | ||
| Non Current Assets | Non Current Liabilities | ||||||
| Plant & Equipment, gross | 1,505,047 | 1,478,763 | 1.8% | Long Term Debt | 463,103 | 463,375 | -0.1% |
| -Depreciation | 820,618 | 764,979 | 7.3% | Lease-Related Debt | 169,512 | 177,666 | -4.6% |
| Plant & Equipment, net | 684,429 | 713,784 | -4.1% | Other Liabilities | 222,043 | 226,294 | -1.9% |
| Rights of Use | 185,564 | 199,460 | -7.0% | 854,659 | 867,336 | -1.5% | |
| Investments in Affiliates and Other Investments | 21,183 | 17,587 | 20.4% | ||||
| Deferred Assets | |||||||
| Goodwill (Net) | 160,127 | 156,836 | 2.1% | ||||
| Intangible Assets | 134,910 | 141,737 | -4.8% | Shareholder's Equity | 455,276 | 432,184 | 5.3% |
| Deferred Assets | 215,331 | 210,818 | 2.1% | ||||
| Total Assets | 1,792,895 | 1,793,921 | -0.1% | Total Liabilities and Equity | 1,792,895 | 1,793,921 | -0.1% |
(1) Includes current portion of Long Term Debt. Note: The reported figures for Argentina corresponding to the third quarter of 2025 are presented in accordance with IAS29 reflecting the effects of inflationary accounting as the Argentinean economy is deemed to be hyperinflationary. All comparisons at constant exchange rates for América Móvil’s consolidated figures will exclude Argentina to ensure consistency.
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| events | |
| Subscribers | |
| América | ● |
| Móvil | |
| Consolidated | |
| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
| América Móvil’s Free Cash Flow Millions of Mexican pesos | Jan-Sep 25 | Jan-Sep 24 | Var. % |
|---|---|---|---|
| EBITDAaL (1) | 238,261 | 222,555 | 7.1% |
| Minus | |||
| Net Interest Payments | 22,871 | 28,054 | |
| Income Taxes | 43,992 | 38,013 | |
| Change in Working Capital | 33,536 | 33,696 | |
| Funds from Operations | 137,862 | 122,792 | 12.3% |
| Capital Expenditures | 84,870 | 86,737 | |
| Free Cash Flow | 52,992 | 36,055 | 47.0% |
| Uses of Free Cash Flow | |||
| Shareholder Distributions | |||
| -Dividends Paid | 17,757 | 16,545 | |
| -Share Buybacks | 10,815 | 16,391 | |
| -Dividends Income | (2,300) | (2,031) | |
| Equity Investments | 993 | 1,128 | |
| Labor Obligations | 10,025 | 23,733 | |
| Reduction of our Net Debt | 15,703 | (19,711) | |
| 52,992 | 36,055 | ||
| (1) After leases and adjusting for non-cash items. Note: The reconcilation of this table (not an IFRS measure) to net cash flows provided by operating activities (an IFRS measure) can be seen in the Appendix. |
| Content | |
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| events | |
| Subscribers | |
| América | ● |
| Móvil | |
| Consolidated | |
| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South | |
| America | |
| Southern | |
| Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
Mexico
98k postpaid gains and 211k new broadband accesses
We added 235 thousand wireless subscribers in the third quarter, including 98 thousand postpaid clients and 136 thousand prepaid subs. Our wireless subscriber base ended September with 84.3 million clients, as the postpaid base expanded 3.1% year-on-year. On the fixed-line platform we gained 218 thousand clients, substantially all of them broadband clients, closing the quarter with 22.5 million RGUs, 3.3% more than a year before.
Mobile service revenue +4.9% YoY
Third quarter revenues were up 2.0% year-on-year to 85.5 billion Mexican pesos with service revenue expanding 2.9%. On the mobile platform service revenue accelerated to 4.9%—its best showing since the first quarter of 2024, whereas on the fixed-line platform service revenue declined 1.4%.
Signs of recovery on the prepaid platform, +2.8% YoY
The acceleration of mobile service revenue growth was driven by the continued improvement in prepaid revenue growth that increased 2.8% compared to 1.2% in the prior quarter—its fastest growth in four quarters. Postpaid revenue growth remained at 7.8% year-on-year, the fastest rate of growth in ten quarters.
Broadband revenue 2.0% YoY
On the fixed-line platform broadband revenue growth slowed to 2.0%, down from 3.6% in the previous quarter, while corporate networks revenue declined 5.8% after a 10.8% increase in the second quarter. Revenue from corporate networks tends to be volatile, as it is often influenced by the timing and scale of special IT projects and enterprise contracts.
Adjusted EBITDA +1.4% YoY
Adjusting for tower sales a year ago, EBITDA was up 1.4% to 35.4 billion pesos, accounting for a 41.4% EBITDA margin.
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| INCOME STATEMENT - Mexico Millions
| of MxP | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (1) | 85,494 | 83,796 | 2.0% | 251,781 | 248,173 | 1.5% |
| Total Service Revenue | 67,270 | 65,382 | 2.9% | 200,884 | 195,815 | 2.6% |
| Wireless Revenue | 63,066 | 60,331 | 4.5% | 182,720 | 178,995 | 2.1% |
| Service Revenue | 46,745 | 44,563 | 4.9% | 137,509 | 133,214 | 3.2% |
| Equipment Revenue | 16,320 | 15,768 | 3.5% | 45,211 | 45,781 | -1.2% |
| Fixed Line Revenue (2) | 20,600 | 20,902 | -1.4% | 63,606 | 62,822 | 1.2% |
| Other Revenue | 1,828 | 2,563 | -28.7% | 5,455 | 6,357 | -14.2% |
| EBITDA | 35,363 | 35,138 | 0.6% | 104,791 | 105,767 | -0.9% |
| % total revenue | 41.4% | 41.9% | 41.6% | 42.6% | ||
| Adjusted EBITDA (3) | 35,363 | 34,871 | 1.4% | 104,791 | 105,243 | -0.4% |
| % total revenue | 41.4% | 41.7% | 41.6% | 42.5% | ||
| EBIT | 27,176 | 26,732 | 1.7% | 79,755 | 80,632 | -1.1% |
| % total revenue | 31.8% | 31.9% | 31.7% | 32.5% |
(1) Revenue reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions.
(2) Includes equipment revenue.
(3) Adjusted for the sale of towers in Telmex in 2024.
| Mexico Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 84,345 | 84,171 | 0.2% |
| Postpaid | 15,784 | 15,310 | 3.1% |
| Prepaid | 68,561 | 68,860 | -0.4% |
| ARPU (MxP) | 186 | 177 | 4.9% |
| Churn (%) | 3.1% | 3.2% | (0.1) |
| Revenue Generating Units (RGUs) | 22,545 | 21,815 | 3.3% |
| Fixed Lines | 10,729 | 10,737 | -0.1% |
| Broadband | 11,816 | 11,077 | 6.7% |
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Brazil
1.5M postpaid net adds & 86k new broadband accesses
Our Brazilian operations obtained 849 thousand new wireless subscribers in the third quarter having added 1.5 million postpaid clients and disconnected 646 thousand prepaid subscribers. Our wireless subscriber base topped 89 million clients at the end of the quarter. As for fixed-line RGUs, we lost 183 thousand land-lines and 68 thousand PayTV accesses but gained 86 thousand broadband clients in the quarter. We had 21.9 million fixed-line RGUs as the quarter came to a close.
Mobile service revenue +8.0% YoY
Third quarter revenues amounted to just over 13 billion reais, a 5.4% increase from the year-earlier quarter. Service revenue rose 5.1% on the back of mobile revenue, up 8.0%, with that coming from postpaid clients expanding 9.0%.
Broadband revenue +4.4% YoY
On the fixed-line platform service revenue climbed 1.4% with broadband revenue accelerating slightly to 4.4%, while corporate networks revenue decelerated to a 3.0% pace.
4Play services +12.6% YoY
The customer base for Claro’s convergent offering—which combines residential fixed-line and mobile services—grew by 12.6% year-over-year. This segment remains a strategic priority for the Company, aimed at enhancing the customer experience, strengthening retention, and accelerating revenue growth.
EBITDA +6.9% YoY
EBITDA came in at 5.8 billion reais, a 6.9% year-on-year increase, with the EBITDA margin reaching 44.5%, our best margin to date.
Strategic partnership with OpenAI
Claro has announced a strategic partnership with OpenAI to integrate ChatGPT into its service offerings. As part of this initiative, Claro Multi customers will have complimentary access to the ChatGPT Plus version during the promotional period.
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| Mobile Market (numbers in millions) | Subs | Market Share | Var. YoY | Fixed-line Market (numbers in millions) — RGUs | Broadband | Voice | PayTV | Total | Market Share | Var. YoY |
|---|---|---|---|---|---|---|---|---|---|---|
| Claro | 89.2 | 33% | +0.15 | Claro | 10.5 | 6.3 | 4.4 | 21.2 | 26% | +0.18 |
| Vivo | 102.9 | 38% | -0.54 | Vivo | 7.8 | 5.2 | 0.7 | 13.8 | 17% | +0.46 |
| TIM | 62.6 | 23% | -0.26 | TIM | 0.8 | 0.7 | 0.0 | 1.5 | 2% | +0.16 |
| Algar | 4.7 | 2% | +0.12 | Oi | 4.0 | 4.4 | 0.3 | 8.7 | 11% | -1.67 |
| Other | 9.1 | 3% | +0.53 | Other | 30.1 | 4.0 | 2.6 | 36.8 | 45% | +0.86 |
| Total | 268.6 | 100% | Total | 53.3 | 20.7 | 8.0 | 82.0 | 100% |
Source: As of August, 2025. Anatel
| INCOME STATEMENT - Brazil Millions of BrL | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (1) | 13,011 | 12,339 | 5.4% | 38,250 | 36,112 | 5.9% |
| Total Service Revenue | 12,312 | 11,711 | 5.1% | 36,289 | 34,351 | 5.6% |
| Wireless Revenue | 7,822 | 7,224 | 8.3% | 22,850 | 21,013 | 8.7% |
| Service Revenue | 7,150 | 6,619 | 8.0% | 20,967 | 19,304 | 8.6% |
| Equipment Revenue | 672 | 606 | 11.0% | 1,884 | 1,709 | 10.2% |
| Fixed Line Revenue (2) | 5,169 | 5,104 | 1.3% | 15,337 | 15,059 | 1.8% |
| EBITDA | 5,790 | 5,416 | 6.9% | 16,912 | 15,692 | 7.8% |
| % total revenue | 44.5% | 43.9% | 44.2% | 43.5% | ||
| EBIT | 2,591 | 2,291 | 13.1% | 7,387 | 6,281 | 17.6% |
| % total revenue | 19.9% | 18.6% | 19.3% | 17.4% |
(1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.
(2) Includes equipment revenue.
| Brazil Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 89,261 | 88,276 | 1.1% |
| Postpaid | 57,774 | 53,242 | 8.5% |
| Prepaid | 31,488 | 35,035 | -10.1% |
| ARPU (BrL) | 27 | 25 | 7.3% |
| Churn (%) | 2.4% | 2.6% | (0.2) |
| Revenue Generating Units (RGUs) (1) | 21,867 | 22,509 | -2.9% |
| Fixed Lines | 6,853 | 7,506 | -8.7% |
| Broadband | 10,530 | 10,204 | 3.2% |
| PayTV | 4,484 | 4,798 | -6.5% |
(1) Fixed Line, Broadband and Television.
Colombia
251k postpaid net adds
During the third quarter, we added 488 thousand mobile subscribers in Colombia, including 251 thousand postpaid subscribers. This segment has shown improving trends for seven consecutive quarters, driven by Claro’s leadership in 5G. On the fixed-line platform, we gained 19 thousand RGUs, as 51 thousand new broadband accesses more than offset the losses in landline and PayTV subscriptions.
Mobile service revenue +7.8% YoY, fastest pace in five years
Total revenues rose 5.9% year-over-year to 4.1 trillion Colombian pesos, with service revenues increasing 5.6%, supported by strong mobile service revenue growth of 7.8%—the fastest pace in five years. Fixed-line service revenue grew 2.4%.
EBITDA +3.0% YoY
EBITDA increased 3.0% to 1.7 trillion Colombian pesos and the EBITDA margin came in at 41.0% due to additional provisions booked in the third quarter related to litigation processes that initated in the second quarter; adjusting for these, EBITDA would have increased by 5.1% annually and the margin would have been equivalent to 41.9% of revenue.
| INCOME STATEMENT - Colombia Billions of
COP | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
| --- | --- | --- | --- | --- | --- | --- |
| Total Revenue (1) | 4,135 | 3,905 | 5.9% | 12,278 | 11,534 | 6.4% |
| Total Service Revenue | 3,168 | 2,999 | 5.6% | 9,351 | 8,903 | 5.0% |
| Wireless Revenue | 2,815 | 2,620 | 7.4% | 8,333 | 7,690 | 8.4% |
| Service Revenue | 1,927 | 1,787 | 7.8% | 5,644 | 5,271 | 7.1% |
| Equipment Revenue | 888 | 833 | 6.6% | 2,688 | 2,419 | 11.2% |
| Fixed Line Revenue (2) | 1,277 | 1,242 | 2.8% | 3,828 | 3,711 | 3.2% |
| EBITDA | 1,696 | 1,646 | 3.0% | 4,911 | 4,777 | 2.8% |
| % total revenue | 41.0% | 42.2% | | 40.0% | 41.4% | |
| EBIT | 787 | 734 | 7.2% | 2,196 | 2,157 | 1.8% |
| % total revenue | 19.0% | 18.8% | | 17.9% | 18.7% | |
(1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.
(2) Includes equipment revenue.
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| Colombia Operating Data | 3Q25 | 3Q24 | Var.% |
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| Wireless Subscribers (thousands) (1) | 42,165 | 40,597 | 3.9% |
| Postpaid | 11,474 | 10,684 | 7.4% |
| Prepaid | 30,691 | 29,913 | 2.6% |
| ARPU (COP) | 15,410 | 14,831 | 3.9% |
| Churn (%) | 2.7% | 3.0% | (0.3) |
| Revenue Generating Units (RGUs) (2) | 9,653 | 9,561 | 1.0% |
(1) Due to differences in the policy for accounting active subscribers, the figures in this report are different from those published by the Ministry of Communications of Colombia (MinTIC).
(2) Fixed Line, Broadband and Television.
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Central America
99k postpaid net adds
We added 150 thousand wireless subscribers—99 thousand of them postpaid—bringing the total to 17.1 million by the end of September. Additionally, we connected 123 thousand new fixed-line RGUs, including 56 thousand broadband accesses. Our fixed-line base reached 5.5 million RGUs at the end of the period, up 8.2% year-over-year.
Service revenue +10.9% YoY
Total revenue increased 10.8% year-over-year to 741 million dollars. Service revenue rose 10.9% with mobile service revenue increasing 12.8%, driven by postpaid revenue growth that increased 16.8% compared to 14.0% in the prior quarter. Fixed-line service revenue growth accelerated from 6.3% in the previous quarter to 7.0% in the current period supported by broadband revenue, which was 10.7% higher than a year ago.
EBITDA +16.9% YoY
EBITDA surged 16.9% to 348 million dollars. The EBITDA margin for the period was 47.0%, 2.5 percentage points higher than that of the year-earlier quarter.
We launched 5G services in Costa Rica
We launched 5G services in Costa Rica, enabling faster speeds and improved connectivity for our customers. We are committed to delivering cutting-edge connectivity and drive digital transformation across the region.
| INCOME STATEMENT - Central America Millions of Dollars | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (1) | 741 | 668 | 10.8% | 2,163 | 1,926 | 12.3% |
| Total Service Revenue | 658 | 593 | 10.9% | 1,920 | 1,711 | 12.2% |
| Wireless Revenue | 531 | 470 | 13.0% | 1,543 | 1,335 | 15.6% |
| Service Revenue | 452 | 401 | 12.8% | 1,312 | 1,142 | 14.9% |
| Equipment Revenue | 79 | 69 | 14.4% | 231 | 193 | 19.5% |
| Fixed Line Revenue (2) | 207 | 195 | 6.0% | 610 | 581 | 5.1% |
| EBITDA | 348 | 298 | 16.9% | 1,017 | 822 | 23.7% |
| % total revenue | 47.0% | 44.6% | 47.0% | 42.7% | ||
| EBIT | 179 | 143 | 25.3% | 525 | 376 | 39.7% |
| % total revenue | 24.2% | 21.4% | 24.3% | 19.5% |
(1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other income.
(2) Includes equipment revenue.
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| Central America Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 17,101 | 16,969 | 0.8% |
| Postpaid | 3,067 | 2,718 | 12.9% |
| Prepaid | 14,034 | 14,251 | -1.5% |
| ARPU (US$) | 9 | 8 | 11.5% |
| Churn (%) | 5.1% | 5.4% | (0.3) |
| Revenue Generating Units (RGUs) (1) | 5,540 | 5,120 | 8.2% |
(1) Fixed Line, Broadband and Television.
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Peru
198k postpaid net adds
Net subscriber additions reached 274 thousand in the third quarter with 198 thousand postpaid additions and 77 thousand prepaid gains, reversing the negative trend of prepaid disconnections observed since the fourth quarter of 2024. Our wireless subscriber base ended September at 13.1 million, up 2.3% year-over-year. On the fixed-line side, we connected 37 thousand new RGUs—23 thousand of which were broadband accesses—bringing the total base to just under two million units.
Mobile service revenue +4.9% YoY
Revenue rose 3.1% year-over-year to 1.7 billion soles. Service revenue increased 4.6%, with mobile service revenue expanding 4.9% and fixed-line service revenue accelerating to a 3.9% pace from 1.3% the previous quarter. Growth was particularly strong in the corporate segment supported by IT solutions.
EBITDA +9.2% YoY
We posted solid EBITDA growth of 9.2% year-over-year, with EBITDA reaching 699 million soles. This represented an EBITDA margin of 40.1%, up from 37.9% in the same period a year before. Third quarter EBITDA reflects a positive one-off effect derived from tower sales of 5.9 million soles.
Additional spectrum for 5G
In September, we were granted the use of 100 MHz of spectrum in the 3.5 GHz band, which will be instrumental for the operation of our 5G network, that today covers 12 major cities. This additional spectrum will allow Claro to increase its coverage, network speed and overall customer experience.
| INCOME STATEMENT - Peru Millions of Soles | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (1) | 1,743 | 1,690 | 3.1% | 5,113 | 4,935 | 3.6% |
| Total Service Revenue | 1,364 | 1,303 | 4.6% | 4,032 | 3,850 | 4.7% |
| Wireless Revenue | 1,381 | 1,357 | 1.8% | 4,079 | 3,942 | 3.5% |
| Service Revenue | 1,028 | 980 | 4.9% | 3,048 | 2,884 | 5.7% |
| Equipment Revenue | 354 | 377 | -6.2% | 1,030 | 1,057 | -2.5% |
| Fixed Line Revenue (2) | 336 | 323 | 3.9% | 984 | 965 | 2.0% |
| EBITDA | 699 | 640 | 9.2% | 2,035 | 1,863 | 9.2% |
| % total revenue | 40.1% | 37.9% | 39.8% | 37.8% | ||
| EBIT | 373 | 311 | 20.2% | 1,063 | 879 | 21.0% |
| % total revenue | 21.4% | 18.4% | 20.8% | 17.8% |
(1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.
(2) Includes equipment revenue.
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| Peru Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 13,067 | 12,772 | 2.3% |
| Postpaid | 6,836 | 6,279 | 8.9% |
| Prepaid | 6,231 | 6,493 | -4.0% |
| ARPU (Sol) | 26 | 26 | 2.9% |
| Churn (%) | 3.7% | 4.1% | (0.3) |
| Revenue Generating Units (RGUs) (1) | 1,988 | 1,948 | 2.1% |
(1) Fixed Line, Broadband and Television.
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Ecuador
25k new broadband accesses
Our wireless subscriber base ended September with 9.7 million subscribers following net disconnections of 320 thousand in the third quarter, all in the prepaid segment. On the fixed-line side we connected 61 thousand new RGUs—25 thousand of which were broadband accesses— bringing the total to 733 thousand units.
Fixed-line service revenue +7.2% YoY
Revenues totaled 257 million dollars, rising 1.6% year-on-year as did service revenue, which experienced an important acceleration relative to the 0.1% pace observed the previous quarter. The improvement in service revenue growth originated on both platforms: on the mobile one service revenue rebounded from -0.4% in the prior quarter to 0.9% in the current period, driven by postpaid revenue; in the fixed-line segment service revenue growth reached 7.2%, up from 4.1% the previous quarter, on the back of strong broadband revenue growth, 9.2%, doubling the growth rate observed in the prior quarter.
EBITDA +3.8% YoY
EBITDA came in at 129 million dollars, up 3.8% year-over-year, which compares to the 2.0% increment seen the previous quarter. The EBITDA margin stood at 50.1% and was 90 basis points higher than a year before.
| I ncome Statement Ecuador Millions of Dollars | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (1) | 257 | 253 | 1.6% | 769 | 764 | 0.6% |
| Total Service Revenue | 228 | 225 | 1.6% | 680 | 677 | 0.5% |
| Wireless Revenue | 226 | 226 | 0.4% | 680 | 679 | 0.2% |
| Service Revenue | 200 | 198 | 0.9% | 597 | 597 | 0.0% |
| Equipment Revenue | 26 | 27 | -3.5% | 84 | 82 | 2.1% |
| Fixed Line Revenue (2) | 29 | 27 | 9.8% | 86 | 81 | 6.1% |
| EBITDA | 129 | 124 | 3.8% | 380 | 371 | 2.4% |
| % total revenue | 50.1% | 49.0% | 49.4% | 48.5% | ||
| EBIT | 72 | 69 | 4.8% | 211 | 206 | 2.2% |
| % total revenue | 28.0% | 27.1% | 27.4% | 27.0% |
( 1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.
(2) Includes equipment revenue.
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| Ecuador Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 9,677 | 9,689 | -0.1% |
| Postpaid | 2,324 | 2,274 | 2.2% |
| Prepaid | 7,353 | 7,416 | -0.8% |
| ARPU (US$) | 7 | 7 | -0.8% |
| Churn (%) | 6.8% | 2.8% | 3.9 |
| Revenue Generating Units (RGUs) (1) | 733 | 579 | 26.6% |
(1) Fixed Line, Broadband and Television.
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Argentina
394k wireless net adds
We gained 394 thousand wireless subscribers in the third quarter, including 141 thousand postpaids. Our wireless base ended the period with 27.1 million subscribers, 5.7% more than a year before. On the fixed-line platform, we added 124 thousand fixed-line RGUs, including 56 thousand broadband accesses and 13 thousand PayTV subscriptions, to reach a total of 4.0 million fixed-line RGUs, 11.5% more than in 2024.
Argentina economy recovery
Argentina’s economy continued to recover in the third quarter, with GDP growing 8.5% year-over-year driven by strong private consumption and investment. Inflation eased to 1.9% monthly by August. Following the elections in the province of Buenos Aires the peso traded near the upper end of its managed band, prompting swift action from the Central Bank to preserve stability and investor confidence.
Service revenue +11.9% YoY
Claro’s revenue increased 7.0% year-over-year in after-inflation terms with service revenue rising 11.9%. Mobile service revenue rose 12.0%, led by a strong performance in the prepaid segment. Postpaid revenue growth accelerated from 0.6% in the prior quarter to 3.7% in the current period. Fixed-line service revenue rose 11.8%, supported by solid growth in PayTV and broadband services.
EBITDA +11.7% YoY
EBITDA increased 11.7% to 286 billion pesos, equivalent to 41.2% of revenue. The EBITDA margin improved by 1.7 percentage points compared to the same period last year.
| Income Statement - Argentina Millions of constant ARS as of September 2025 | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (1) | 694,060 | 648,633 | 7.0% | 2,031,900 | 1,781,175 | 14.1% |
| Total Service Revenue | 631,930 | 564,517 | 11.9% | 1,828,631 | 1,547,340 | 18.2% |
| Wireless Revenue | 564,201 | 532,902 | 5.9% | 1,648,050 | 1,466,600 | 12.4% |
| Service Revenue | 503,195 | 449,414 | 12.0% | 1,448,052 | 1,234,453 | 17.3% |
| Equipment Revenue | 61,005 | 83,488 | -26.9% | 199,998 | 232,147 | -13.8% |
| Fixed Line Revenue (2) | 128,734 | 115,103 | 11.8% | 380,579 | 312,887 | 21.6% |
| EBITDA | 286,085 | 256,189 | 11.7% | 830,626 | 695,661 | 19.4% |
| % total revenue | 41.2% | 39.5% | 40.9% | 39.1% | ||
| EBIT | 253,388 | 229,589 | 10.4% | 738,304 | 619,870 | 19.1% |
| % total revenue | 36.5% | 35.4% | 36.3% | 34.8% |
(1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.
(2) Includes equipment revenue.
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| Appendix | |
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| Argentina Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 27,073 | 25,621 | 5.7% |
| Postpaid | 10,078 | 9,525 | 5.8% |
| Prepaid | 16,995 | 16,097 | 5.6% |
| ARPU (US$) | 6,136 | 4,332 | 41.6% |
| Churn (%) | 1.0% | 1.4% | (0.3) |
| Revenue Generating Units (RGUs) (1) | 3,983 | 3,571 | 11.5% |
(1) Fixed Line, Broadband and Television.
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| Appendix | |
| Glossary |
Chile, Paraguay & Uruguay
98k postpaid net adds
Our combined operations in Chile, Paraguay & Uruguay gained 98 thousand postpaid subscribers but disconnected 104 thousand prepaids, for a net disconnection of six thousand wireless subscribers in the quarter. Our subscriber base stood at 8.8 million at the end of September. On the fixed-line platform we disconnected 56 thousand RGUs, including 25 thousand PayTV units and 14 thousand broadband accesses, to reach a total of 3.2 million RGUs in the region.
Service revenue +3.5% YoY
Revenue for this regional block expanded 9.0% year-over-year to 334.8 billion Chilean pesos, with service revenue increasing 3.5%, accelerating from 2.2% in the prior quarter. Mobile service revenue growth improved significantly, rising from 8.3% in the second quarter to 13.6% in the current period. Prepaid revenue posted the strongest swing, expanding 14.7%, compared to 3.8% in the previous quarter. However, fixed-line service revenue declined 3.3%.
EBITDA +88% YoY
Combined EBITDA for the block reached 91.6 billion Chilean pesos, up 87.8% year-over-year, with the EBITDA margin reaching 27.4%, an 11.5 percentage points improvement over the past twelve months.
| Income Statement - Chile, Paraguay & Uruguay (1) Millions of Chilean Pesos | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (2) | 334,780 | 307,066 | 9.0% | 971,166 | 916,777 | 5.9% |
| Total Service Revenue | 288,064 | 278,278 | 3.5% | 842,427 | 828,634 | 1.7% |
| EBITDA | 91,611 | 48,778 | 87.8% | 214,742 | 148,781 | 44.3% |
| % total revenue | 27.4% | 15.9% | 22.1% | 16.2% | ||
| EBIT | -60,798 | -81,059 | 25.0% | -232,110 | -233,850 | 0.7% |
| % total revenue | -18.2% | -26.4% | -23.9% | -25.5% |
(1) Proforma financial figures for Chile.
(2) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other revenue.
| Chile, Paraguay & Uruguay Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 8,771 | 9,142 | -4.1% |
| Postpaid | 5,002 | 4,601 | 8.7% |
| Prepaid | 3,769 | 4,541 | -17.0% |
| ARPU (US$) | 4,970 | 4,266 | 16.5% |
| Churn (%) | 7.2% | 5.0% | 2.2 |
| Revenue Generating Units (RGUs) (1) | 3,235 | 3,481 | -7.1% |
(1) Fixed Line, Broadband and Television.
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| Appendix | |
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The Caribbean
49k wireless net adds in the Dominican Republic
We ended the quarter with eight million wireless subscribers in the Caribbean, following net additions of 49 thousand in the Dominican Republic and three thousand in Puerto Rico. On the fixed-line platform, we added 17 thousand new RGUs, bringing the total to 2.9 million.
Fixed-line service revenue +2.3% YoY in the Dominican Republic
Revenue in the Dominican Republic increased 0.7% year-over-year, amid a slowing economy that has weigh on business performance. Service revenue rose 0.8% with fixed-line service revenue up 2.3%, supported by an 8.7% increase in broadband revenue. EBITDA rose 1.2% with the EBITDA margin improving by 30 basis points, reaching 52.5%.
Service revenue +1.4% YoY in the Puerto Rico
In Puerto Rico revenue was up 1.1% year-over-year, with service revenue rising 1.4%, reversing the negative trend observed since the first quarter of 2023. On the mobile platform, service revenue declined 0.7%, while on the fixed-line platform it rose 4.1% driven by strong growth in PayTV and broadband revenue, which increased 41.8% and 17.8%, respectively. EBITDA declined 3.2% (compared to -6.5% in the previous quarter), with the EBITDA margin down to 16.6%.
| Income Statement - The Caribbean Millions of Dollars | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Total Revenue (1) | 475 | 480 | -1.2% | 1,428 | 1,447 | -1.3% |
| Total Service Revenue | 420 | 425 | -1.2% | 1,265 | 1,275 | -0.8% |
| Wireless Revenue | 294 | 302 | -2.6% | 886 | 913 | -3.0% |
| Service Revenue | 241 | 247 | -2.6% | 722 | 745 | -3.1% |
| Equipment Revenue | 53 | 55 | -2.3% | 164 | 168 | -2.3% |
| Fixed Line Revenue (2) | 182 | 181 | 0.6% | 549 | 540 | 1.6% |
| EBITDA | 172 | 177 | -2.6% | 521 | 536 | -2.7% |
| % total revenue | 36.2% | 36.8% | 36.5% | 37.0% | ||
| EBIT | 81 | 81 | -0.3% | 246 | 250 | -1.5% |
| % total revenue | 17.0% | 16.9% | 17.2% | 17.3% |
(1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other income.
(2) Includes equipment revenue.
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| Appendix | |
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| The Caribbean Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 8,007 | 7,836 | 2.2% |
| Postpaid | 2,389 | 2,290 | 4.4% |
| Prepaid | 5,617 | 5,546 | 1.3% |
| ARPU (US$) | 10 | 11 | -4.9% |
| Churn (%) | 3.1% | 3.1% | 0.0 |
| Revenue Generating Units (RGUs) (1) | 2,895 | 2,829 | 2.3% |
(1) Fixed Line, Broadband and Television.
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| Currency | |
| Exchange | |
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| Appendix | |
| Glossary |
Austria and Eastern Europe
411k mobile net adds in Eastern Europe
Our combined wireless subscriber base in Europe reached 29.3 million at the end of September following net additions of 983 thousand subscribers, including 556 thousand M2M units from A1 Digital, 411 thousand from Eastern Europe, and 17 thousand new subscribers from Austria. In the fixed-line segment, RGUs increased by 17 thousand, ending the quarter with 6.4 million fixed-line RGUs.
Service revenue +6.3% YoY in Eastern Europe
Total revenue for the Group reached 1.4 billion euros, representing a 3.5% increase compared to the same period of last year. Service revenue was up 0.7% with mobile service revenue growth expanding 1.1% and fixed-line service revenue practically unchanged from the year-earlier quarter. In Eastern Europe mobile service revenue decelerated to 4.1% from 5.8% but fixed-line service revenue growth increase to 11.5%—the fastest in over a year— from 10.4% the preceding quarter.
EBITDA +3.6% YoY
EBITDA increased 3.6% year-over-year reaching 567 million euros, with the EBITDA margin, 40.5%, up 10 basis points from a year earlier.
| Income
Statement - Austria and Eastern Europe Millions of Euros | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
| --- | --- | --- | --- | --- | --- | --- |
| Total Revenue (1) | 1,401 | 1,354 | 3.5% | 4,085 | 3,937 | 3.8% |
| Total Service Revenue | 1,160 | 1,151 | 0.7% | 3,412 | 3,346 | 2.0% |
| Wireless Revenue | 825 | 805 | 2.5% | 2,411 | 2,330 | 3.5% |
| Service Revenue | 656 | 649 | 1.1% | 1,913 | 1,872 | 2.2% |
| Equipment Revenue | 168 | 156 | 8.2% | 498 | 458 | 8.7% |
| Fixed Line Revenue (2) | 549 | 527 | 4.1% | 1,603 | 1,541 | 4.1% |
| EBITDA | 567 | 548 | 3.6% | 1,567 | 1,506 | 4.0% |
| % total revenue | 40.5% | 40.4% | | 38.3% | 38.3% | |
| EBIT | 269 | 255 | 5.9% | 670 | 650 | 3.0% |
| % total revenue | 19.2% | 18.8% | | 16.4% | 16.5% | |
For further detail please visit www.a1.group/en/investor-relations
(1) Revenue reflects eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenue includes other income.
(2) Includes equipment revenue.
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| Appendix | |
| Glossary |
| Austria & Eastern Europe Operating Data | 3Q25 | 3Q24 | Var.% |
|---|---|---|---|
| Wireless Subscribers (thousands) | 29,289 | 26,666 | 9.8% |
| Postpaid | 25,416 | 22,736 | 11.8% |
| Prepaid | 3,874 | 3,931 | -1.4% |
| A1 Digital Subscribers (thousands) | 8,479 | 6,199 | 36.8% |
| ARPU (Euros) | 8 | 8 | -7.6% |
| Churn (%) | 1.1% | 1.2% | -0.1 |
| Revenue Generating Units (RGUs) (1) | 6,412 | 6,293 | 1.9% |
(1) Fixed Line, Broadband and Television.
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| Exchange | |
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| Appendix | |
| Glossary |
| Exchange Rates Local Currency Units per MxP | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Euro | ||||||
| End of Period | 0.0464 | 0.0458 | 1.3% | 0.0464 | 0.0458 | 1.3% |
| Average | 0.0459 | 0.0481 | -4.5% | 0.0458 | 0.0519 | -11.9% |
| USD | ||||||
| End of Period | 0.0544 | 0.0509 | 6.8% | 0.0544 | 0.0509 | 6.8% |
| Average | 0.0536 | 0.0528 | 1.5% | 0.0512 | 0.0565 | -9.4% |
| Brazilian Real | ||||||
| End of Period | 0.2893 | 0.2776 | 4.2% | 0.2893 | 0.2776 | 4.2% |
| Average | 0.2922 | 0.2930 | -0.3% | 0.2894 | 0.2957 | -2.1% |
| Argentinean Peso | ||||||
| End of Period | 75.0714 | 49.4422 | 51.8% | 75.0714 | 49.4422 | 51.8% |
| Average | 71.4964 | 49.8239 | 43.5% | 60.3784 | 50.1190 | 20.5% |
| Chilean Peso | ||||||
| End of Period | 52.3536 | 45.7323 | 14.5% | 52.3536 | 45.7323 | 14.5% |
| Average | 51.4373 | 49.1470 | 4.7% | 48.9620 | 52.8936 | -7.4% |
| Colombian Peso | ||||||
| End of Period | 212.2285 | 212.1458 | 0.0% | 212.2285 | 212.1458 | 0.0% |
| Average | 214.9263 | 216.5670 | -0.8% | 211.4461 | 224.7393 | -5.9% |
| Guatemalan Quetzal | ||||||
| End of Period | 0.4165 | 0.3935 | 5.9% | 0.4165 | 0.3935 | 5.9% |
| Average | 0.4112 | 0.4090 | 0.5% | 0.3934 | 0.4389 | -10.4% |
| Peruvian Sol | ||||||
| End of Period | 0.1891 | 0.1892 | -0.1% | 0.1891 | 0.1892 | -0.1% |
| Average | 0.1899 | 0.1987 | -4.4% | 0.1860 | 0.2121 | -12.3% |
| Dominican Republic Peso | ||||||
| End of Period | 3.4163 | 3.0699 | 11.3% | 3.4163 | 3.0699 | 11.3% |
| Average | 3.3271 | 3.1582 | 5.3% | 3.1403 | 3.3482 | -6.2% |
| Belarusian Ruble | ||||||
| End of Period | 0.1645 | 0.1400 | 17.5% | 0.1645 | 0.1400 | 17.5% |
| Average | 0.1604 | 0.1452 | 10.4% | 0.1548 | 0.1552 | -0.2% |
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| Currency | ● |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary |
| Exchange Rates Local Currency Units per USD | 3Q25 | 3Q24 | Var.% | Jan-Sep 25 | Jan-Sep 24 | Var.% |
|---|---|---|---|---|---|---|
| Euro | ||||||
| End of Period | 0.8522 | 0.8981 | -5.1% | 0.8522 | 0.8981 | -5.1% |
| Average | 0.8555 | 0.9096 | -6.0% | 0.8940 | 0.9198 | -2.8% |
| Mexican Peso | ||||||
| End of Period | 18.3825 | 19.6290 | -6.4% | 18.3825 | 19.6290 | -6.4% |
| Average | 18.6398 | 18.9243 | -1.5% | 19.5409 | 17.7119 | 10.3% |
| Brazilian Real | ||||||
| End of Period | 5.3186 | 5.4481 | -2.4% | 5.3186 | 5.4481 | -2.4% |
| Average | 5.4458 | 5.5457 | -1.8% | 5.6559 | 5.2377 | 8.0% |
| Argentinean Peso | ||||||
| End of Period | 1,380.0000 | 970.5000 | 42.2% | 1,380.0000 | 970.5000 | 42.2% |
| Average | 1,332.6815 | 942.8826 | 41.3% | 1,179.8503 | 887.7044 | 32.9% |
| Chilean Peso | ||||||
| End of Period | 962.3900 | 897.6800 | 7.2% | 962.3900 | 897.6800 | 7.2% |
| Average | 958.7836 | 930.0716 | 3.1% | 956.7631 | 936.8472 | 2.1% |
| Colombian Peso | ||||||
| End of Period | 3,901.2900 | 4,164.2100 | -6.3% | 3,901.2900 | 4,164.2100 | -6.3% |
| Average | 4,006.1908 | 4,098.3766 | -2.2% | 4,131.8519 | 3,980.5660 | 3.8% |
| Guatemalan Quetzal | ||||||
| End of Period | 7.6571 | 7.7235 | -0.9% | 7.6571 | 7.7235 | -0.9% |
| Average | 7.6644 | 7.7408 | -1.0% | 7.6878 | 7.7741 | -1.1% |
| Peruvian Sol | ||||||
| End of Period | 3.4760 | 3.7140 | -6.4% | 3.4760 | 3.7140 | -6.4% |
| Average | 3.5388 | 3.7599 | -5.9% | 3.6346 | 3.7559 | -3.2% |
| Dominican Republic Peso | ||||||
| End of Period | 62.8000 | 60.2600 | 4.2% | 62.8000 | 60.2600 | 4.2% |
| Average | 62.0158 | 59.7664 | 3.8% | 61.3640 | 59.3037 | 3.5% |
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| Appendix | |
| Glossary |
Appendix
The following table reconciles net cash flows provided by operating activities (an IFRS measure) to free cash flow (a non-IFRS measure). Our management defines free cash flow as funds from operations less capital expenditures. Funds from operations are calculated by subtracting payments of lease liabilities and net interest paid, and adding employee benefits, investing activities and others to net cash flows from operating activities.
| Millions of Mexican pesos | Jan-Sep 25 | Jan-Sep 24 |
|---|---|---|
| Net cash flows from operating activities (IFRS measure) | 186,665 | 158,072 |
| (-) Payments of lease liabilities | -38,710 | -33,422 |
| (-) Net interest paid | -27,488 | -25,150 |
| (+) Employee benefits | 10,025 | 23,733 |
| (+) Investing activities (Derivative instruments, other investments) and others | 7,370 | -441 |
| Funds from Operations | 137,862 | 122,792 |
| (-) Capital Expenditures | -84,870 | -86,737 |
| Free Cash Flow (non-IFRS measure) | 52,992 | 36,055 |
Free cash flow is presented as a supplemental non-IFRS measure because management believes that it provides additional perspective and useful insight into the Company’s ability to generate cash after excluding the adjusted items, including necessary capital expenditures. This non-IFRS measure should not be considered superior to, a substitute for or an alternative to, and should be considered in conjunction with the IFRS measure presented herein.
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| Exchange |
| Rates |
| ● |
| Appendix |
| Glossary |
| Financial Debt of América Móvil (1) Millions | Sep-25 | Dec-24 |
|---|---|---|
| Peso - denominated debt (MxP) | 135,640 | 130,585 |
| Bonds (2) | 125,280 | 120,205 |
| Banks and others | 10,360 | 10,380 |
| U.S. Dollar - denominated debt (USD) | 9,550 | 10,254 |
| Bonds | 9,550 | 9,094 |
| Banks and others | 0 | 1,160 |
| Euro - denominated Debt (EUR) | 4,583 | 4,318 |
| Bonds | 3,432 | 2,782 |
| Commercial Paper | 1,096 | 1,246 |
| Banks and others | 55 | 290 |
| Sterling - denominated Debt (GBP) | 2,200 | 2,200 |
| Bonds | 2,200 | 2,200 |
| Reais - denominated Debt (BRL) | 8,500 | 10,000 |
| Bonds | 8,500 | 10,000 |
| Banks and others | 0 | 0 |
| Debt denominated in other currencies (MxP) (3) | 56,373 | 50,852 |
| Bonds | 5,387 | 5,581 |
| Banks and others | 50,986 | 45,271 |
| Total Debt (MxP) | 550,176 | 568,482 |
| Cash, Marketable Securities and Short Term Financial Investments (MxP) (4) | 96,588 | 83,336 |
| Net Debt (MxP) | 453,588 | 485,146 |
(1) This table does not include the effect of forwards and derivatives used to hedge our foreign exchange exposure. It includes financial debt of Telekom Austria.
(2) Includes the effect of inflation-linked debt.
(3) Includes Chilean peso, Colombian peso, Dominican peso, Japanese yen and Peruvian soles.
(4) Includes fixed income securities.
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| Austria and |
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| Europe |
| Currency |
| Exchange |
| Rates |
| ● |
| Appendix |
| Glossary |
Glossary of Terms
| ARPU | Average Revenue per User. The ratio of service revenue in a given period to the average number of wireless subscribers in the same
period. |
| --- | --- |
| Capex | Capital Expenditure. Accrued capital expenditures related to the expansion of the telecommunications infrastructure. |
| Churn | Disconnection Rate. The ratio of wireless subscribers disconnected during a given period to the number of wireless subscribers at the
beginning of that period. |
| EBIT | Earnings Before Interest and Taxes, also known as Operating Profit. |
| EBIT margin | The ratio of EBIT to total operating revenue. |
| EBITDA | Earnings Before Interest, Taxes, Depreciation, and Amortization. |
| EBITDAaL | Earnings Before Interest, Taxes, Depreciation, and Amortization. Adjusted after lease payments. |
| EBITDA margin | The ratio of EBITDA to total operating revenue. |
| EPS (Mexican pesos) | Earnings per share. Total earnings in Mexican pesos divided by total shares. |
| Earnings per ADR (US$) | Total earnings in U.S. dollars divided by total ADRs equivalent. |
| Gross additions | Total number of subscribers acquired during the period. |
| Licensed pops | Licensed population. Population covered by the licenses that each of the companies manage. |
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| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary | ● |
Glossary of Terms
| Market share | A company’s subscribers base divided by the total number of subscribers in that country. |
|---|---|
| MBOU | Megabytes of Use per subscriber. The ratio of wireless data in a given period to the average number of wireless subscribers in that same period. It is presented on a |
| monthly basis. | |
| Net subscriber additions | The difference in the subscriber base from one period to another. It is the different between gross additions and disconnections |
| Net debt | Total short and long term debt minus cash and marketable securities. |
| Net debt/ EBITDA | The ratio of total short and long-term debt minus cash and securities to trailing 12-month income before interest, taxes, depreciation and amortization. |
| Prepaid | Subscriber that may recharge a mobile phone. The client does not hold a contract with the company. |
| Postpaid | Subscriber that has a contract for the use of voice and data, mobile WiFi routers and machine-to-machine devices. |
| SAC | Subscriber Acquisition Cost. The sum of handset subsidies, marketing expenses and commissions to distributors for handset activation. Handset subsidy is calculated as the difference between equipment cost and equipment revenue. |
| Wireless penetration | The ratio of total wireless subscribers in any given country divided by the total population in that country. |
| Content | |
|---|---|
| Highlights | |
| Relevant | |
| events | |
| Subscribers | |
| América | |
| Móvil | |
| Consolidated | |
| Mexico | |
| Brazil | |
| Colombia | |
| Central America | |
| Other South America | |
| Southern Cone | |
| The | |
| Caribbean | |
| Austria and | |
| Eastern | |
| Europe | |
| Currency | |
| Exchange | |
| Rates | |
| Appendix | |
| Glossary | ● |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: October 16, 2025 |
|---|
| AMÉRICA MÓVIL, S.A.B. DE C.V. |
| By: /s/ Carlos José Garcia Moreno Elizondo |
| Name: Carlos José Garcia Moreno Elizondo |
| Title: Chief Financial Officer |
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