amxpr2q15_6k.htm - Generated by SEC Publisher for SEC Filing
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
 
For the month of July, 2015

Commission File Number: 1-16269
 

AMÉRICA MÓVIL, S.A.B. DE C.V.
(Exact name of registrant as specified in its charter)
America Mobile
(Translation of Registrant´s name into English)
 
Lago Zurich 245
Plaza Carso / Edificio Telcel
Colonia Granada Ampliación 
11529 Mexico, D.F., Mexico
(Address of principal executive office)
 

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F. 
Form 20-F ___X___ Form 40-F _______

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
Yes _______ No ___X____

Indicate by check mark if the Registrant is submitting this Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
Yes _______ No ___X____

Indicate by check mark whether the registrant by furnishing the information contained in this Form 6-K is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____


 
 

 

América Móvil’s second quarter of
2015 financial and operating report

 

Mexico City, July 16, 2015 - 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 second quarter of 2015.

 

We ended June with 367.7 million access lines, 1.4% more than a year before. This figure includes 288.8 million wireless subscribers, 34.6 million landlines, 22.8 million broadband accesses and 21.5 million PayTV units.

 

Our wireless subscriber base was up 0.8% year-on-year, even after net disconnections of 850 thousand wireless subscribers. Our fixed RGUs have increased 3.7% annually, and have been particularly strong in Colombia, Ecuador, Peru and the Central America-Caribbean block.

 

América Móvil consolidated revenues totaled 220 billion pesos in the second quarter and EBITDA was 68.3 billion pesos. The EBITDA margin declined from 32.6% to 31.1%. At constant exchange rates service revenues were slightly down in the period, -0.5%, while EBITDA came down by 3.1%.

 

Our operating profits reached 36.3 billion pesos and were up 2.2% from the year-earlier quarter. Depreciation and amortization charges were down 11.9% year-on-year, due to an impairment registered by Telekom Austria last year.

 

Our comprehensive financing costs, 11.0 billion pesos, were down 23.9% from the year before. Our net profit totaled 14.0 billion pesos. It was equivalent to 21 peso cents per share or 27 dollar cents per ADR.

 

Net debt increased 6.8 billion pesos from December. This figure reflects the reclassification in May of our investment in KPN from a long-term investment valued at cost to an “available for sale” asset valued also at cost. As such, the shares are now included in the cash and securities item line, which is deducted from gross debt to come up with the net debt figure. The net debt to EBITDA ratio stood at 1.77 times at the end of June.

 

In the first half of the year capital expenditures reached 70.9 billion pesos and our share buy-backs 23.1 billion.

 

América Móvil Fundamentals (IFRS)

 

2Q15

2Q14

Var. %

EPS (Mex$) (1)

0.21

0.24

-13.1%

Earning per ADR (US$) (2)

0.27

0.37

-26.2%

Net Income (millions of Mex$)

14,048

16,721

-16.0%

Average Shares Outstanding (billion) (3)

67.11

69.45

-3.4%

(1) Net Income / Average Shares outstanding

(2) 20 shares per ADR

(3) All figures in the table reflect retroactively the 2:1 split that became effective on June 29th, 2011

 

 

 

 

 

 
 

 

Relevant Events

 

 

On May 20th we placed a €3 billion bond exchangeable into ordinary shares of KPN. The bond has a maturity of 5 years and bears no interest. The strike price for the KPN shares is 45% above the reference price of €3.3798 per KPN share. The underlying shares are approximately 612.2 million, roughly 14.3% of the outstanding KPN shares. Upon redemption at maturity or at the time investors exercise their option, AMX may elect to settle in cash, deliver the underlying KPN shares or a combination of both.

 

On July 15th, we successfully launched our new satellite Star One C4 in the Kourou Space Center in French Guiana. This satellite, our eighth one, has 48 transponders in the Band KU for television and other telecommunication services, and its shadow covers the Americas from the United States to Tierra del Fuego in Argentina.

 

 

Access Lines

 

We ended June with 367.7 million access lines, 1.4% more than a year before. This figure includes 288.8 million wireless subscribers, 34.6 million landlines, 22.8 million broadband accesses and 21.5 million PayTV units.

 

We continued to adjust the wireless subscriber count across our operations to meet our corporate churn policies. Our subscriber base came down 0.2% as compared to the close of 2014 while our fixed RGUs increased 0.6%, with important increases in Colombia, Ecuador, Peru and in the Central America-Caribbean block.

 

Brazil is our largest operation in terms of access lines with 107.7 million, 30% of our base, followed by Mexico with just over 94.2 million lines or 26%.

 

 

América Móvil’s Subsidiaries as of June 2015

 

Country

Brand

Business

Equity

Participation

Consolidation Method

Mexico

Telcel

wireless

100.0%

Global Consolidation Method

 

Telmex

wireline

98.7%

Global Consolidation Method

 

Sección Amarilla (1)

other

98.4%

Global Consolidation Method

 

Telvista

other

89.4%

Global Consolidation Method

Argentina

Claro

wireless

100.0%

Global Consolidation Method

 

Telmex

wireline

99.7%

Global Consolidation Method

Brazil

Claro (2)

wireless/wireline

96.1%

Global Consolidation Method

Chile

Claro

wireless

100.0%

Global Consolidation Method

 

Telmex(1)

wireline

100.0%

Global Consolidation Method

Colombia

Claro

wireless

99.4%

Global Consolidation Method

 

Telmex

wireline

99.3%

Global Consolidation Method

Costa Rica

Claro

wireless

100.0%

Global Consolidation Method

Dominicana

Claro

wireless/wireline

100.0%

Global Consolidation Method

Ecuador

Claro

wireless

100.0%

Global Consolidation Method

 

Telmex(1)

wireline

98.4%

Global Consolidation Method

El Salvador

Claro

wireless/wireline

95.8%

Global Consolidation Method

Guatemala

Claro

wireless/wireline

99.3%

Global Consolidation Method

Honduras

Claro

wireless/wireline

100.0%

Global Consolidation Method

Nicaragua

Claro

wireless/wireline

99.6%

Global Consolidation Method

Panama

Claro

wireless/wireline

100.0%

Global Consolidation Method

Paraguay

Claro

wireless/wireline

100.0%

Global Consolidation Method

Peru

Claro

wireless/wireline

100.0%

Global Consolidation Method

Puerto Rico

Claro

wireless/wireline

100.0%

Global Consolidation Method

Uruguay

Claro

wireless/wireline

100.0%

Global Consolidation Method

USA

TracFone

wireless

98.2%

Global Consolidation Method

Netherlands

KPN

wireless/wireline

21.1%

Equity Method (3)

Austria

Telekom Austria

wireless/wireline

59.7%

Global Consolidation Method

(1) Equity Participation of Telmex Internacional of which América Móvil owns 97.79%.

(2) On December 31, 2014, Embratel and Net merged into Claro of which América Móvil owns 78.23% through Telmex Internacional and 16.70% through Sercotel. As of February 2nd, reflects the acquisition of minority shareholders.

(3) Until April 30th; it is now available for sale.

 


 
 

 

Wireless Subscribers

 

Our total subscriber base finished June with 288.8 million clients after net disconnections of 850 thousand subs in the quarter, including 739 thousand subs in Brazil, 582 thousand in Ecuador, 464 thousand in Colombia and 298 thousand in Argentina. On the other hand, Mexico contributed with 559 thousand net gains, the Central America-Caribbean block with 448 new subs and Chile with 151 thousand net additions.

 

Our wireless postpaid base grew 5.0% in annual terms reaching a total of 60.7 million subscribers. We added 608 thousand contract clients in the quarter of which 293 thousand came from Mexico.

 

In relative terms, Chile, Brazil and the Central America-Caribbean block exhibited the highest growth rate, 3.9%, 3.5% and 3.3%, respectively.

 

Half of our subscriber base is split between Mexico and Brazil. Colombia represents 10% of our subs followed by TracFone in the US with 9%. Altogether, our operations in the Argentinean block represent approximately 8%, while those in Europe and the ones in the Central America-Caribbean block each account for 7%.

 

Wireless Subscribers as of June 2015

 

Total(1) (Thousands)

Country

Jun'15

Mar'15

Var.%

Jun'14

Var.%

Argentina, Paraguay and Uruguay

21,661

21,900

-1.1%

21,903

-1.1%

Austria & CEE

20,005

19,994

0.1%

19,878

0.6%

Brazil

71,202

71,942

-1.0%

68,776

3.5%

Central America* & Caribbean

19,914

19,465

2.3%

20,034

-0.6%

Chile

6,005

5,854

2.6%

5,781

3.9%

Colombia

29,370

29,834

-1.6%

29,109

0.9%

Ecuador

9,923

10,505

-5.5%

12,226

-18.8%

Mexico

72,633

72,074

0.8%

71,282

1.9%

Peru

12,370

12,390

-0.2%

12,086

2.4%

USA

25,713

25,688

0.1%

25,519

0.8%

Total Wireless Lines

288,796

289,646

-0.3%

286,593

0.8%

(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. *Central America includes Panama and Costa Rica in every table.

 


 
 

 

Fixed Revenue Generating Units

 

At the end of June we had 78.9 million RGUs, 3.7% more than in the same period of 2014. We added 530 thousand net RGUs in the quarter, including 138 thousand landlines and 435 thousand broadband accesses. The fixed broadband base increased 5.2% over the year and the number of fixed lines rose 2.8%. We disconnected 112 thousand DTH PayTV units in Brazil, yet, our total base increased by 3.6% in annual terms.

 

Altogether, our operations in South America posted an annual growth of 6.4%, with Colombia growing 10.6% and, although from a small base, Peru and Ecuador rising 12.4% and 10.7% respectively.

 

Brazil concentrates nearly half of our fixed RGUs, 46%, Mexico accounts for 27%, Colombia 7%, and both Central America and Europe approximately 6%.

 

 

Fixed-Line and Other Accesses (RGUs) as of June 2015

 

Total (Thousands)

Country

Jun'15

Mar'15

Var.%

Jun'14

Var.%

Argentina, Paraguay and Uruguay

581

588

-1.3%

583

-0.4%

Austria & CEE

4,509

4,458

1.1%

4,215

7.0%

Brazil

36,516

36,346

0.5%

34,503

5.8%

Central America & Caribbean

7,189

7,084

1.5%

6,749

6.5%

Chile

1,229

1,224

0.4%

1,222

0.5%

Colombia

5,583

5,471

2.1%

5,050

10.6%

Ecuador

368

357

3.3%

333

10.7%

Mexico

21,606

21,554

0.2%

22,257

-2.9%

Peru

1,289

1,257

2.6%

1,148

12.4%

Total RGUs

78,870

78,339

0.7%

76,059

3.7%

*Fixed Line, Broadband and Television (Cable & DTH)

 

 

 

 


 
 

 

América Móvil Consolidated Results

 

Whereas at the start of the second quarter the U.S. economy seemed to have hit a soft patch, subsequent economic data point to its having been short lived.  The Fed continues to affirm that they expect their first interest rate increase in years to take place in 2015, with market expectations centering in a September move.  Against this backdrop we are seeing a mixed bag of economic indicators throughout Latin America, with Mexico’s economy appearing to be gaining momentum—retail sales have exceeded expectations—, Brazil’s continuing to go deeper into negative territory, Colombia assimilating the blow to the economy from the drop in oil prices and the rest of the region experiencing relatively stable, albeit decelerating, economic growth.

 

América Móvil consolidated revenues totaled 220 billion pesos in the second quarter, bringing to 440 billion pesos the cumulative number through June.  EBITDA of 68.3 billion pesos—136.6 billion through June—was down 5.0% year-on-year, as the EBITDA margin declined from 32.6% to 31.1%.  At constant exchange rates service revenues were slightly down in the period, -0.5%, while EBITDA came down by 3.1%.

 

Service revenues continued their trend. In Central America and the Caribbean they maintained a stable growth rate, in the South American block they experienced a solid, though declining, expansion, in Europe they are trending up and in Mexico growth rates kept coming down, but seem to be stabilizing.

 

Our operating profits reached 36.3 billion pesos and were up 2.2% from the year-earlier quarter. Depreciation and amortization charges were down 11.9% year-on-year, as the prior year Telekom Austria had registered an impairment of its Bulgarian investments. Our comprehensive financing costs, 11.0 billion pesos, were down 23.9% from the year before.

 

Our net profit totaled 14.0 billion pesos. It was equivalent to 21 peso cents per share or 27 dollar cents per ADR.

 

América Móvil’s Income Statement (IFRS) Pro-forma* Millions of Mexican pesos

 

 

 

 

2Q15

2Q14

Var.%

Jan-Jun 15

Jan-Jun 14

Var.%

Service Revenues

193,808

196,963

-1.6%

387,563

389,592

-0.5%

Equipment Revenues

26,191

23,250

12.6%

52,472

44,051

19.1%

Total Revenues

219,999

220,213

-0.1%

440,035

433,644

1.5%

 

 

 

 

 

 

 

Cost of Service

66,492

65,985

0.8%

133,504

130,073

2.6%

Cost of Equipment

34,148

33,056

3.3%

68,344

64,295

6.3%

Selling, General & Administrative Expenses

49,310

47,141

4.6%

98,073

92,778

5.7%

Others

1,715

2,131

-19.5%

3,533

4,142

-14.7%

Total Costs and Expenses

151,666

148,313

2.3%

303,454

291,287

4.2%

 

 

 

 

 

 

 

EBITDA

68,333

71,899

-5.0%

136,581

142,356

-4.1%

% of Total Revenues

31.1%

32.6%

 

31.0%

32.8%

 

Depreciation & Amortization

31,988

36,324

-11.9%

62,521

66,389

-5.8%

EBIT

36,346

35,575

2.2%

74,060

75,968

-2.5%

% of Total Revenues

16.5%

16.2%

 

16.8%

17.5%

 

 

 

 

 

 

 

 

Net Interest Expense

5,614

7,523

-25.4%

11,940

13,897

-14.1%

Other Financial Expenses

-7,541

10,055

-175.0%

-7,484

12,945

-157.8%

Foreign Exchange Loss

12,935

-3,120

n.m.

30,768

-3,199

n.m.

Comprehensive Financing Cost (Income)

11,008

14,458

-23.9%

35,224

23,644

49.0%

Income & Deferred Taxes

10,108

5,664

78.5%

14,505

22,215

-34.7%

 

 

 

 

 

 

 

Net Income before Minority

Interest and Equity Participation in Results of Affiliates

15,229

15,453

-1.4%

24,330

30,109

-19.2%

 

 

 

 

 

 

 

Equity Participation in Results of Affiliates**

-1,395

-835

-67.1%

-1,389

-863

-60.9%

Minority Interest

213

2,103

-89.8%

-666

1,690

-139.4%

Net Income

14,048

16,721

-16.0%

22,276

30,936

-28.0%

* All periods include Telekom Austria

   Group results pro-forma

** Includes KPN

n.m. Not meaningful

 


 
 

 

Balance Sheet (in accordance with IFRS) - América Móvil Consolidated Millions of Mexican Pesos

 

Jun '15

Dec '14

Var.%

 

Jun '15

Dec '14

Var%

Current Assets

 

 

 

 

Current Liabilities

 

 

 

Cash & Securities

118,610

66,474

78.4%

 

Short Term Debt**

77,482

57,806

34.0%

Accounts Receivable

175,545

168,120

4.4%

 

Accounts Payable

267,970

254,000

5.5%

Other Current Assets

22,306

17,884

24.7%

 

Other Current
Liabilities

60,649

67,106

-9.6%

Inventories

34,139

35,930

-5.0%

 

 

406,101

378,912

7.2%

 

350,600

288,408

21.6%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non Current Assets

 

 

 

 

Non Current Liabilities

 

 

 

Plant & Equipment

577,815

595,596

-3.0%

 

Long Term Debt

585,179

545,949

7.2%

Investments in Affiliates

3,155

49,263

-93.6%

 

Other Liabilities

117,087

118,857

-1.5%

 

 

 

 

 

 

702,266

664,806

5.6%

Deferred Assets

 

 

 

 

 

 

 

 

Goodwill (Net)

139,412

140,903

-1.1%

 

 

 

 

 

Intangible Assets

101,134

95,009

6.4%

 

Shareholder's Equity

181,186

234,639

-22.8%

Deferred Assets

117,437

109,177

7.6%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

1,289,552

1,278,357

0.9%

 

Total Liabilities

and Equity

1,289,552

1,278,357

0.9%

* Results include Telekom Austria Pro-forma.

** Includes current portion of Long Term Debt.

 

 

 


 
 

 

Net debt increased 6.8 billion pesos from December. This figure reflects the reclassification in May of our investment in KPN from a long-term investment valued at cost to an “available for sale” asset also valued at cost. As such, the shares are now included in the cash and securities item line at our carrying cost of 39.5 billion pesos, which is deducted from gross debt to come up with the net debt figure. It must be said that the carrying cost is lower than the market value of the shares which was 51.4 billion pesos at the end of June. In the first half of the year capital expenditures reached 70.9 billion pesos and our share buy-backs 23.1 billion.

 

Financial Debt of América Móvil* Millions of U.S. dollars equivalent

 

Dec-14

Jun-15

Peso - denominated debt

5,783

6,299

Bonds and other securities

5,762

5,377

Banks and others

21

922

U.S. Dollar - denominated debt

16,026

15,222

Bonds and other securities

15,727

12,670

Banks and others

299

2,552

Debt denominated in other currencies

18,712

20,661

Bonds and other securities

17,657

19,760

Banks and others

1,055

901

Total Debt

40,521

42,182

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

*Pro-forma

 

 

 

Mexico

 

Mexico is undergoing a major change in the telecommunications sector with the entrance of a new and strong competitor in the mobile space and the continued expansion of cable operators offering triple-play packages. Voice revenues have declined significantly on both platforms, in line with the world tendency towards a greater use of data services. Ten years ago, Telmex’ voice revenues totaled the equivalent of 9.2 billion U.S. dollars; this year they will represent approximately one third of that (3.0 billion U.S. dollars), a continuous decline that has lasted several years. 

 

We are now three players in the mobile sector, all of us with spectrum, distribution, technology and capital. The new player has replaced two weak players that had sharply limited themselves. Their lack of investment is evident in the pricing at which those companies were sold to the new entrant.  Now the principal objective of the Telecoms Reform has been achieved: to increase the level of effective competition in the telecom sector, which is now made up of strong and experienced global players with both the capacity and willingness—we hope—to invest for the long term; a strong and preponderant player in content, open broadcast and PayTV capable of offering triple play services through its cable and DTH networks; local operators focused on fixed-broadband services capable of structuring their own triple-play packages; and a good number of new MVNOs (Mobile Virtual Network Operators).

 

Greater investment in the sector and more competition will bring about more penetration and new plans for the benefit of Mexican consumers. We will lead the integration of the Mexico and U.S.A. telecoms market, one with 440 million POPs . Our main competitor has the highest share in this market with around 130 million mobile customers and approximately 46.2 million RGUs, excluding their Direct TV clients.

 

Today we announced our “Sin Fronteras” Plan (“No Borders Plan”). With this plan our postpaid customers will be able to make calls from Mexico to the U.S that will be charged as a local call, with no long distance charges, while in the U.S. our clients will be able to use the minutes, SMS and data under their plans as if they were in Mexico, with no roaming charges. All postpaid subscribers are eligible to  get this plan which is priced at 50 pesos (3.17 dollars), including taxes.

 


 
 

 

 

In the second quarter we added 559 thousand mobile clients in Mexico of which 293 thousand were postpaid subscribers, to finish June with 72.6 million clients, 1.9% more than a year before. On the fixed-line platform we added 52 thousand RGUs, which took us to 21.6 million RGUs, down from 22.3 million in June 2014. 

 

Our revenues were down 2.4% in the quarter from the year-earlier quarter to 68.1 billion pesos, with service revenues declining 7.5%. Voice revenues plummeted on both platforms: -19.2% on the fixed-line platform; -14.6% on the mobile one.  Data revenues expanded 2.9% and 4.4% on the mobile and fixed-line platforms respectively helping partly offset the reduction in voice revenues.

 

Second quarter EBITDA came in at 28.2 billion pesos, having come down 7.3% from the year-earlier quarter. Through June EBITDA stood at 56.0 billion pesos, for a 7.5% decline vs. the prior year.

 

INCOME STATEMENT (IFRS) - Mexico Millions of MxP

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

68,059

69,714

-2.4%

134,621

137,542

-2.1%

Total Service Revenues

55,343

59,810

-7.5%

110,846

118,880

-6.8%

Wireless Revenues

44,906

45,301

-0.9%

88,021

89,221

-1.3%

Service Revenues

33,580

36,709

-8.5%

67,265

73,473

-8.5%

Equipment Revenues

11,144

8,432

32.2%

20,589

15,711

31.0%

Fixed Line and Other Revenues

24,721

26,382

-6.3%

49,657

52,511

-5.4%

EBITDA

28,196

30,403

-7.3%

55,967

60,494

-7.5%

% total revenues

41.4%

43.6%

 

41.6%

44.0%

 

EBIT

21,722

24,170

-10.1%

43,065

47,995

-10.3%

%

31.9%

34.7%

 

32.0%

34.9%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Mexico Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

72,633

71,282

1.9%

Postpaid

10,522

9,667

8.8%

Prepaid

62,111

61,615

0.8%

MOU

262

270

-2.9%

ARPU (MxP)

155

169

-8.2%

Churn (%)

3.7%

4.8%

(1.0)

Revenue Generating Units (RGUs) *

21,606

22,257

-2.9%

* Fixed Line and Broadband

 

 

 

 


 
 

 

Argentina, Paraguay and Uruguay

 

We ended June with 21.7 million wireless subscribers after net disconnections of 239 thousand clients in the second quarter. On the fixed-line platform we had had 581 thousand fixed RGUs.

 

Second quarter revenues of 6.7 billion Argentinean pesos were 13.3% greater than in the prior year with wireless service revenues rising 24.0%. Wireless data revenues shot up 32.5% on an annual basis and now represent nearly half of our service revenues, 48.9%. Fixed-line revenues of 426 million Argentinean pesos were up 3.2% year-on-year.

 

EBITDA of 2.3 billion Argentinean pesos in the quarter was 21.0% greater than in the previous year. The EBITDA margin was equivalent to 34.9% of revenues, 2.3 percentage points higher than in the year-earlier quarter.

 

On June 24th, we paid the equivalent of 360 million dollars for 30 MHz in the 700 MHz frequency. The new spectrum we have acquired will help us continue with the rollout of our 4GLTE networks in the largest cities of Argentina including Buenos Aires and the greater metropolitan area.

 

 

INCOME STATEMENT (IFRS) - Argentina, Paraguay & Uruguay Millions of ARP

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

6,718

5,927

13.3%

13,464

10,970

22.7%

Total Service Revenues

5,418

5,108

6.1%

10,524

8,550

23.1%

Wireless Revenues

6,330

5,548

14.1%

12,683

10,271

23.5%

Service Revenues

5,033

4,058

24.0%

9,747

7,850

24.2%

Equipment Revenues

1,298

1,485

-12.6%

2,935

2,416

21.5%

Fixed Line and Other Revenues

426

412

3.2%

854

774

10.4%

EBITDA

2,342

1,935

21.0%

4,611

3,535

30.4%

% total revenues

34.9%

32.6%

 

34.2%

32.2%

 

EBIT

1,866

1,611

15.9%

3,696

2,901

27.4%

%

27.8%

27.2%

 

27.5%

26.4%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Argentina, Paraguay & Uruguay Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

21,661

21,903

-1.1%

Postpaid

2,716

2,885

-5.9%

Prepaid

18,946

19,018

-0.4%

MOU

124

136

-8.5%

ARPU (ARP)

77

62

25.1%

Churn (%)

2.7%

2.2%

0.5

Revenue Generating Units (RGUs) *

581

583

-0.4%

* Fixed Line, Broadband and PayTV.

 

 

 

 


 
 

 

Brazil

 

We had 71.2 million wireless subscribers at the end of June—3.5% more than a year before—having disconnected 804 thousand prepaid subscribers in the quarter. Our wireless postpaid subscriber base was up 7.7% and it is just shy of 16 million; it represents 26% of the base. On the fixed-line platform we had 36.5 million RGUs, 5.8% more than a year before. We connected 144 thousand new broadband accesses and 138 thousand landlines. On the PayTV segment, we reported net disconnections of 112 thousand ClaroTV satellite units that had past-due balances but on the Net Serviços cable product we continue to register positive numbers.

 

It is worth mentioning that we are making important efforts to continue to deliver high quality and competitively priced services and to adapt to deteriorating macroeconomic conditions. In the second quarter we generated revenues of 9.1 billion reais, 2.5% above the prior year, with service revenues rising 3.9% and equipment revenues declining 18.5% annually. On the wireless platform, voice revenues came down 18.7% year-on-year as a consequence of the 33% cut in mobile termination rates effective in the first quarter and to a lesser extent to the substitution of voice for value added services and applications which helped data revenues rise 34.4%. On the fixed line platform, broadband revenues were up 10.1% year-on-year and PayTV revenues 8.1%, while voice revenues were down 7.9% as a result of a 16.5% decline in long distance revenues.

 

Second quarter EBITDA totaled 2.5 billion reais; it was 10.4% higher than in the same quarter of 2014. The EBITDA margin for the period was 27.4%, 1.9 percentage points greater than that of the prior year. For the most part, the improvement in EBITDA is linked to a reduction in the costs of service as our networks have become more efficient in terms of managing data and content, including a substantially reduced demand for other operator’s links on account of the substantial investments in infrastructure we made over the last few years.

 

INCOME STATEMENT (IFRS) - Brazil Millions of BrL

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

9,095

8,872

2.5%

18,108

17,466

3.7%

Total Service Revenues

8,764

8,465

3.5%

17,443

16,767

4.0%

Wireless Revenues

3,057

3,134

-2.4%

6,092

6,158

-1.1%

Service Revenues

2,732

2,727

0.2%

5,444

5,470

-0.5%

Equipment Revenues

325

398

-18.2%

647

678

-4.6%

Fixed Line and Other Revenues

6,038

5,738

5.2%

12,016

11,308

6.3%

EBITDA

2,493

2,258

10.4%

4,821

4,496

7.2%

% total revenues

27.4%

25.5%

 

26.6%

25.7%

 

EBIT

515

460

11.8%

901

960

-6.1%

%

5.7%

5.2%

 

5.0%

5.5%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Brazil Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

71,202

68,776

3.5%

Postpaid

15,956

14,812

7.7%

Prepaid

55,246

53,964

2.4%

MOU

100

117

-14.4%

ARPU (BrL)

13

15

-12.6%

Churn (%)

3.4%

3.4%

0.0

Revenue Generating Units (RGUs) *

36,516

34,503

5.8%

* Fixed Line, Broadband and Television

 

 


 
 

 

Chile

 

We added 151 thousand wireless subscribers in the second quarter and finished June with just over six million wireless clients, 3.9% more than a year before. We also had 1.2 million fixed RGUs.

 

Revenues were up 9.5% relative to the 2014 period with service revenues rising 1.7% year-on-year and equipment revenues jumping 77.9%. On the wireless platform, data revenues expanded 20.4% while wireless voice revenues dropped 13.7%. The annual comparison of both service lines is affected by regulatory changes implemented in the last quarter of 2014 related to the way we account for voice and data revenues from postpaid contracts. On the fixed platform, data revenues increased 22.5% over the year while voice revenues were down 7.5%.

 

EBITDA declined 25.1% in the quarter to 10.2 billion Chilean pesos; it was equivalent to 5.3% of revenues.

 

INCOME STATEMENT (IFRS) - Chile Millions of ChPL

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

192,993

176,238

9.5%

370,380

358,472

3.3%

Total Service Revenues

160,762

158,117

1.7%

319,220

320,048

-0.3%

Wireless Revenues

131,056

117,712

11.3%

247,970

242,723

2.2%

Service Revenues

98,945

99,653

-0.7%

197,069

204,537

-3.7%

Equipment Revenues

32,232

18,122

77.9%

51,160

38,424

33.1%

Fixed Line and Other Revenues

67,057

60,663

10.5%

132,504

120,263

10.2%

EBITDA

10,217

13,632

-25.1%

21,108

24,789

-14.8%

% total revenues

5.3%

7.7%

 

5.7%

6.9%

 

EBIT

-41,723

-32,408

-28.7%

-81,049

-69,067

-17.3%

%

-21.6%

-18.4%

 

-21.9%

-19.3%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Chile Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

6,005

5,781

3.9%

Postpaid

1,428

1,358

5.2%

Prepaid

4,577

4,423

3.5%

MOU

159

176

-9.8%

ARPU (ChP)

5,626

6,180

-9.0%

Churn (%)

5.4%

5.3%

0.1

Revenue Generating Units (RGUs) *

1,229

1,222

0.5%

* Fixed Line, Broadband and Television

 

 


 
 

 

Colombia

 

Our wireless subscriber base finished June with 29.4 million clients after net disconnections of 464 thousand clients in the second quarter. On the fixed-line platform we had 5.6 million clients—10.6% more than a year before—including 1.9 million broadband accesses, up 17.4%, and 1.5 million landlines, 15.3% more than a year before.

 

Our second quarter revenues were slightly lower than last year’s at 2.8 trillion Colombian pesos, but service revenues declined 5.7% from the year-earlier quarter reflecting negative trends in the wireless segment, which has become more competitive. The decline in service revenues was brought about by a 22.5% fall in wireless voice revenues—with prices falling 22.8%—that more than offset solid revenue growth in all other business lines: 18.5% in mobile data; 17.0% in PayTV and 10.0% in fixed-data. Our clients are migrating to more competitive plans as a result of regulatory changes related to the elimination of mandatory contract duration terms and also as a result of weaker economic conditions in the country.

 

EBITDA came down 6.2% to 1.1 trillion Colombian pesos and was equivalent to 38.6% of revenues.

 

INCOME STATEMENT (IFRS) - Colombia Billions of COP

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

2,797

2,806

-0.3%

5,651

5,578

1.3%

Total Service Revenues

2,233

2,368

-5.7%

4,585

4,759

-3.7%

Wireless Revenues

2,153

2,225

-3.2%

4,381

4,432

-1.2%

Service Revenues

1,577

1,780

-11.4%

3,291

3,597

-8.5%

Equipment Revenues

564

438

28.9%

1,066

819

30.2%

Fixed Line and Other Revenues

658

582

13.1%

1,297

1,143

13.5%

EBITDA

1,080

1,152

-6.2%

2,202

2,264

-2.7%

% total revenues

38.6%

41.0%

 

39.0%

40.6%

 

EBIT

688

807

-14.8%

1,433

1,558

-8.0%

%

24.6%

28.8%

 

25.4%

27.9%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Colombia Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers* (thousands)

29,370

29,109

0.9%

Postpaid

5,811

5,833

-0.4%

Prepaid

23,559

23,276

1.2%

MOU

209

214

-2.5%

ARPU (COP)

17,682

20,359

-13.1%

Churn (%)

4.3%

4.0%

0.3

Revenue Generating Units (RGUs)**

5,583

5,050

10.6%

*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).** Fixed Line, Broadband and Television

** Fixed Line, Broadband and Television

 


 
 

 

Ecuador

 

Our wireless subscriber base finished June with 9.9 million clients—18.8% below last year—after net disconnections of 582 thousand subscribers that were not generating traffic. Our postpaid subscriber base was up 1.2% over the year and reached 2.4 million. Our fixed RGUs were 10.7% above the prior year at 368 thousand.

 

We generated revenues of 406 million dollars in the second quarter, 6.5% below the precedent year. Wireless voice revenues dropped 11.9% as a result of aggressive airtime promotions implemented in the quarter that brought the average revenue per minute of voice down 12.6% in an annual basis. Data revenues declined 3.0% year-on-year. Fixed line revenues increased 2.6% annually.

 

Second quarter EBITDA of 173 million dollars came down 10.1% relative to last year’s period on account of the decline in wireless revenues and an increase in subscriber acquisition and retention costs. The EBITDA margin for the period stood at 42.6%.

 

We are in the process of testing our 4GLTE networks to be launched in the main cities in Ecuador. Our new platform will enable us to be more competitive in certain segments of the market offering higher data speeds and new value added services.

 

INCOME STATEMENT (IFRS) - Ecuador Millions of Dollars

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

406

434

-6.5%

816

859

-5.0%

Total Service Revenues

354

379

-6.6%

717

757

-5.3%

Wireless Revenues

393

421

-6.7%

789

833

-5.3%

Service Revenues

342

366

-6.8%

692

731

-5.4%

Equipment Revenues

51

55

-6.4%

98

102

-4.0%

Fixed Line and Other Revenues

16

16

2.6%

32

31

4.1%

EBITDA

173

193

-10.1%

349

391

-10.8%

% total revenues

42.6%

44.4%

 

42.7%

45.5%

 

EBIT

121

145

-16.2%

247

293

-15.6%

%

29.9%

33.3%

 

30.3%

34.1%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Ecuador Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

9,923

12,226

-18.8%

Postpaid

2,433

2,404

1.2%

Prepaid

7,490

9,822

-23.7%

MOU

184

149

23.8%

ARPU (US$)

11

10

11.3%

Churn (%)

5.5%

2.6%

2.9

Revenue Generating Units (RGUs) *

368

333

10.7%

* Fixed Line, Broadband and Television

 

 


 
 

 

Peru

 

Our wireless subscriber base finished June with 12.4 million wireless subscribers, 2.4% more than in the same period of the prior year, while our postpaid base grew 7.3%. On the fixed platform, we had 1.3 million RGUs, 12.4% more than a year before, with the fixed broadband division rising 26.8%. 

 

We obtained revenues of 1.3 billion soles, 0.4% more than a year before with service revenues rising 1.0%. The average price per minute of voice dropped 11.2% year on year—as a result of aggressive promotions in the wireless market along with a 63% cut in termination rates effective April 1st—bringing voice revenues down 10%. Wireless data revenues, on the other hand, posted an annual growth of 14.7%. On the fixed platform, data revenues jumped 20.3% over the prior year, PayTV revenues were up 9.6% and voice revenues remained flat.

 

EBITDA dropped 33.1% relative to last year’s to 329 million soles. The EBITDA margin for the period declined sharply and stood at 25.4% of revenues. The deterioration of the quarter’s EBITDA is linked to an important increase in subscriber acquisition and retention costs—partly linked to the depreciation of the Peruvian sol—and to the negative impact of the termination rate cut.

 

INCOME STATEMENT (IFRS) - Peru Millions of Soles

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

1,296

1,290

0.4%

2,654

2,555

3.8%

Total Service Revenues

1,136

1,125

1.0%

2,333

2,238

4.2%

Wireless Revenues

1,102

1,117

-1.4%

2,270

2,216

2.4%

Service Revenues

935

948

-1.4%

1,940

1,892

2.5%

Equipment Revenues

158

163

-3.1%

316

312

1.4%

Fixed Line and Other Revenues

194

173

12.2%

384

340

13.0%

EBITDA

329

492

-33.1%

728

973

-25.2%

% total revenues

25.4%

38.1%

 

27.4%

38.1%

 

EBIT

175

342

-48.8%

424

675

-37.2%

%

13.5%

26.5%

 

16.0%

26.4%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

 

Peru Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

12,370

12,086

2.4%

Postpaid

3,935

3,669

7.3%

Prepaid

8,435

8,417

0.2%

MOU

153

135

13.0%

ARPU (Sol)

25

26

-3.9%

Churn (%)

4.7%

4.5%

0.2

Revenue Generating Units (RGUs) *

1,289

1,148

12.4%

* Fixed Line, Broadband and Television

 

 


 
 

 

Central America and the Caribbean

 

Altogether, our operations in the Central America-Caribbean block finished June with 27.1 million access lines including 19.9 million wireless subscribers and 7.2 million fixed RGUs. We added 448 thousand wireless subscribers—a fourth of which were postpaid— bringing our sub base up 4.5% over the end of 2014. On the fixed platform, we gained 104 thousand new RGUs for an annual increase of 6.5%.

 

Revenues topped one billion dollars, exceeding by 2.0% those of the year-earlier quarter. At constant exchange rates, service revenues were up 2.9% on the back of data revenue growth which was up 15.1% on the wireless platform and 5.8% on the fixed, and PayTV revenues that expanded 11.7%. Wireless voice revenues declined 2.8% relative to last year’s dragged by a sharp decline in Puerto Rico, whereas wireline voice revenues dropped 5.2% as we continue to experience a deceleration of both local and long distance traffic in the region overall.

 

EBITDA of 344 million dollars came in 3.0% above last year’s and was equivalent to 34.3% of revenues, climbing 0.3 percentage points in the last twelve months. Our operations in Central America have become more efficient in terms of cost controls allowing for an 18.1% increase in EBITDA.

 

INCOME STATEMENT (IFRS) - Central America and The Caribbean Millions of Dollars

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

1,003

983

2.0%

2,000

1,954

2.4%

Total Service Revenues

948

933

1.7%

1,893

1,855

2.0%

Wireless Revenues

612

587

4.2%

1,219

1,168

4.3%

Service Revenues

560

543

3.2%

1,120

1,082

3.5%

Equipment Revenues

51

44

16.9%

98

87

13.5%

Fixed Line and Other Revenues

394

398

-1.0%

787

789

-0.3%

EBITDA

344

334

3.0%

659

652

1.0%

% total revenues

34.3%

34.0%

 

32.9%

33.4%

 

EBIT

108

85

26.1%

194

150

29.4%

%

10.7%

8.7%

 

9.7%

7.7%

 

*Total Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions; Wireless Revenues and Fixed Line and Other Revenues only exclude intercompany transactions with foreign subsidiaries. The sum of the parts will not equal Total Revenues.

 

Central America and The Caribbean Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

19,914

20,034

-0.6%

Postpaid

3,664

3,276

11.8%

Prepaid

16,250

16,758

-3.0%

MOU

221

188

17.7%

ARPU (US$)

10

8

20.3%

Churn (%)

5.0%

9.6%

(4.6)

Revenue Generating Units (RGUs) *

7,189

6,749

6.5%

* Fixed Line, Broadband and Television

 

 


 
 

 

United States

 

We ended June with 25.7 million clients, 0.8% more than a year before. Our Lifeline product, SafeLink showed solid growth in the quarter and our new brand Total Wireless appears to be gaining more traction.

 

Second quarter revenues of 1.7 billion dollars were down 1.2% as a result of a decline in equipment revenues of 19.8%. Service revenues were almost flat, at 0.4% year-on-year.

 

Our EBITDA for the quarter totaled 197 million dollars; down 5.2% from the year before as a result of higher subscriber acquisition costs.

 

INCOME STATEMENT (IFRS) - United States Millions of Dollars

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

1,691

1,711

-1.2%

3,506

3,370

4.0%

Service Revenues

1,581

1,576

0.3%

3,154

3,041

3.7%

Equipment Revenues

109

135

-19.8%

352

329

7.1%

EBITDA

197

208

-5.2%

411

426

-3.5%

% total revenues

11.7%

12.2%

 

11.7%

12.6%

 

EBIT

185

199

-6.9%

388

409

-5.1%

%

11.0%

11.6%

 

11.1%

12.1%

 

 

United States Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

25,713

25,519

0.8%

MOU

522

547

-4.6%

ARPU (US$)

21

21

-0.1%

Churn (%)

4.7%

4.5%

0.2

 

 


 
 

 

Telekom Austria Group

 

We finished June with 24.5 million access lines, 1.7% more than a year before. Our wireless subscriber base topped 20 million clients, up 0.6% year-on-year, driven by the growth of Bulgaria and Serbia with our postpaid base increasing 2.2%. On the fixed segment, RGUs were up 7.0% to 4.5 million reflecting the acquisition of Blizoo Macedonia and solid growth in Bulgaria and Croatia. 

 

Our second quarter revenues increased 1.8% from a year before and were just above one billion euros. In Austria, revenues grew 6.0% annually, in spite of a negative extraordinary effect of 28.2 million euros in the quarter. On the other hand, the revenues of our operations in Eastern Europe declined on the back of strong competition in Bulgaria, MTR cuts in Croatia and the depreciation of Belarusian ruble vs the euro.

 

At 322 million euros, the period’s EBITDA was 7.0% higher than that of a year before on the back of strict cost controls and overall improvements in Austria. The EBITDA margin stood at 32.0% in the quarter, 1.5 percentage points above last year’s.

 

 

INCOME STATEMENT (IFRS) - Telekom Austria Group Millions of Euros

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Total Revenues

1,003

986

1.8%

2,003

1,978

1.3%

Wireless Revenues

656

688

-4.7%

1,311

1,332

-1.6%

Service Revenues

562

595

-5.7%

1,098

1,156

-5.0%

Equipment Revenues

73

70

4.4%

148

138

8.0%

Fixed Line and Other Revenues

348

297

16.9%

692

646

7.2%

EBITDA

322

300

7.0%

656

613

7.1%

% total revenues

32.0%

30.5%

 

32.8%

31.0%

 

EBIT

121

-261

146.4%

261

-163

259.7%

%

12.1%

-26.4%

 

13.0%

-8.3%

 

 

Telekom Austria Group Operating Data (IFRS)

 

2Q15

2Q14

Var.%

Wireless Subscribers (thousands)

20,005

19,878

0.6%

Postpaid

14,244

13,938

2.2%

Prepaid

5,761

5,940

-3.0%

MOU

305

303

0.6%

ARPU (Euros)

9

10

-6.2%

Churn (%)

1.8%

1.9%

(0.1)

Revenue Generating Units (RGUs) *

4,509

4,215

7.0%

* Fixed Line, Broadband and Television

 

 

 

 


 
 

 

Glossary of Terms

 

 

ARPU

Average Revenue per User. The ratio of service revenues in a given period to the average number of wireless subscribers in the same period. It is presented on a monthly basis.

ARPM

Average Revenue per Minute. The ratio of service revenues to airtime traffic.

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.

EBITDA margin

The ratio of EBITDA to total operating revenue.

EDGE

Enhanced Data rates for GSM Evolution. A technology that gives GSM the capacity to handle data services for the third generation mobile telephony.

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.

Equity subscribers

Subscribers weighted by the economic interest held in each company.

GSM

Global System for Mobile communications. It is the world s leading and fastest growing mobile standard.

GPRS

General Packet Radio Service. Enables GSM networks to offer higher capacity, Internet-based-content and packet-based data services. It is a second generation technology.

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.

Market share

A company s subscriber base divided by the total number of subscribers in that country.

MOU

Minutes of Use per subscriber. The ratio of wireless traffic 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 purchase airtime to recharge a cellular phone. The client does not hold a contract with the company for voice and data services.

Postpaid

Subscriber that has a contract for the use of airtime. The client has no need of activating airtime, it is done so immediately.

Push-to-talk

Enables compatible mobile phones to function like two-way radios.

SMS

Short Message Service.

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 revenues.

Wireless penetration

The ratio of total wireless subscribers in any given country divided by the total population in that country.

 

 


 
 

 

 

Exchange Rates Local Currency Units per USD

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

Mexico

 

 

 

 

 

 

EoP

15.57

13.03

19.5%

15.57

13.03

19.5%

Average

15.31

13.01

17.7%

15.12

13.12

15.3%

Brazil

 

 

 

 

 

 

EoP

3.10

2.20

40.9%

3.10

2.20

40.9%

Average

3.07

2.23

37.9%

2.97

2.30

29.3%

Argentina

 

 

 

 

 

 

EoP

9.09

8.13

11.7%

9.09

8.13

11.7%

Average

8.95

8.05

11.1%

8.82

7.84

12.6%

Chile

 

 

 

 

 

 

EoP

639

553

15.6%

639

553

15.6%

Average

618

554

11.6%

621

553

12.4%

Colombia

 

 

 

 

 

 

EoP

2,585

1,881

37.4%

2,585

1,881

37.4%

Average

2,500

1,914

30.6%

2,483

1,960

26.7%

Guatemala

 

 

 

 

 

 

EoP

7.62

7.78

-2.0%

7.62

7.78

-2.0%

Average

7.68

7.76

-1.1%

7.66

7.77

-1.5%

Honduras

 

 

 

 

 

 

EoP

22.06

21.12

4.4%

22.06

21.12

4.4%

Average

22.09

20.98

5.2%

21.99

20.90

5.2%

Nicaragua

 

 

 

 

 

 

EoP

27.25

25.95

5.0%

27.25

25.95

5.0%

Average

27.08

25.79

5.0%

26.92

25.64

5.0%

Costa Rica

 

 

 

 

 

 

EoP

541

549

-1.4%

541

549

-1.4%

Average

540

558

-3.2%

541

545

-0.9%

Peru

 

 

 

 

 

 

EoP

3.18

2.80

13.7%

3.18

2.80

13.7%

Average

3.14

2.79

12.6%

3.10

2.80

10.7%

Paraguay

 

 

 

 

 

 

EoP

5,184

4,388

18.1%

5,184

4,388

18.1%

Average

5,051

4,418

14.3%

4,902

4,472

9.6%

Uruguay

 

 

 

 

 

 

EoP

27.07

22.93

18.1%

27.07

22.93

18.1%

Average

26.59

22.94

15.9%

25.69

22.57

13.8%

Dominican Republic

 

 

 

 

 

 

EoP

44.98

43.54

3.3%

44.98

43.54

3.3%

Average

44.88

43.35

3.5%

44.83

43.26

3.6%

Austria & CEE

 

 

 

 

 

 

EoP

0.90

0.73

22.8%

0.90

0.73

22.8%

Average

0.90

0.73

23.9%

0.90

0.73

22.8%

 


 
 

 

 

 

2Q15

2Q14

Var.%

Jan - Jun 15

Jan - Jun 14

Var.%

USA

 

 

 

 

 

 

EoP

0.06

0.08

-16.3%

0.06

0.08

-16.3%

Average

0.07

0.08

-15.1%

0.07

0.08

-13.2%

Brazil

 

 

 

 

 

 

EoP

0.20

0.17

17.9%

0.20

0.17

17.9%

Average

0.20

0.17

17.2%

0.20

0.18

12.2%

Argentina

 

 

 

 

 

 

EoP

0.58

0.62

-6.5%

0.58

0.62

-6.5%

Average

0.58

0.62

-5.6%

0.58

0.60

-2.3%

Chile

 

 

 

 

 

 

EoP

41.0

42.4

-3.2%

41.0

42.4

-3.2%

Average

40.4

42.6

-5.2%

41.1

42.1

-2.5%

Colombia

 

 

 

 

 

 

EoP

166.1

144.3

15.0%

166.1

144.3

15.0%

Average

163.3

147.1

11.0%

164.2

149.3

9.9%

Guatemala

 

 

 

 

 

 

EoP

0.49

0.60

-17.9%

0.49

0.60

-17.9%

Average

0.50

0.60