Strong Subscriber Growth
Added 2.5 million wireless subscribers in Q4 (2.8 million postpaid net gains; 298,000 prepaid losses), ending the quarter with 331 million wireless subscribers. Postpaid base grew 8.4% year‑over‑year. Key postpaid net adds: Brazil +644,000; Colombia +276,000; Peru +148,000; Mexico +135,000.
Fixed Broadband and PayTV Momentum
Connected 524,000 broadband accesses in Q4 (Mexico 84,000; Brazil 113,000; Argentina 57,000; Colombia 49,000). PayTV added 77,000 units. Broadband accesses grew 5.6% year‑over‑year and fixed broadband revenue increased 6.4%.
Revenue Growth (Reported and Constant Currency)
Q4 revenue rose 3.4% in Mexican pesos to MXN 245 billion and increased 6.2% at constant exchange rates. Service revenue expanded 5.3% year‑over‑year.
EBITDA and Operating Profit Expansion
EBITDA grew 4.2% in MXN to MXN 95 billion and 6.9% at constant exchange rates, expanding faster than revenue due to operating leverage. Operating profit was MXN 49 billion, up 5.9% nominally and 8.3% at constant exchange rates.
Net Profit and EPS Improvement
Comprehensive financing costs were roughly half of the year‑ago quarter, contributing to a net profit of MXN 19 billion in Q4 — four times the prior year — equivalent to MXN 0.32 per share or $0.35 per ADR.
Strong Free Cash Flow and Cash Generation
Operating cash flow for fiscal 2025 was MXN 213 billion. After MXN 131 billion in CapEx, free cash flow was MXN 82 billion — a nearly 40% year‑on‑year increase.
Capital Returns and Deleveraging
Shareholder distributions totaled MXN 45 billion for the year (including MXN 12 billion in buybacks). Net debt was reduced by MXN 20 billion in cash flow terms and net debt/EBITDA after leases stood at 1.52x and is trending downward.
CapEx and Investment Guidance
Targeting CapEx of ~14%–15% of revenues (~$6.8–$7.0 billion) for 2026 and expecting a similar percentage for the next 2–3 years, subject to spectrum and country decisions.
Brazil Operational Strength and ARPU Mix
Brazil led postpaid net adds and showed strong number portability; management noted gains across segments including higher‑ARPU subscribers, aided in part by the NuCel MVNO initiative.