Subscriber and Broadband Growth
Postpaid subscriber base and broadband accesses increased strongly year-over-year, with the base up 8.8% and broadband accesses up 6.0%, driven by accelerating postpaid growth and fiber expansion.
Revenue Expansion (Reported and Constant FX)
Reported first-quarter revenue rose 2.1% YoY to MXN 237 billion. At constant exchange rates revenue grew 6.1% YoY, supported by service revenue (+4.6% at constant FX) and equipment revenue (+11.3% at constant FX).
Mobile Service Revenue Resilience
Mobile service revenue grew 6.4% YoY (postpaid +7.3%, prepaid +5.0%), reflecting continued momentum in Mexico and Colombia and improved consumer spending dynamics.
Strong Equipment and Other Revenue
Equipment revenue rose 7.4% on a reported basis (11.3% at constant FX). Other revenue surged 108%, driven by proceeds from a favorable legal ruling in Chile.
EBITDA and Margin Strength
Reported EBITDA increased 3.8% YoY in MXN; at constant exchange rates EBITDA expanded ~8.0% YoY (and +7.0% when adjusted for the Chile ruling). Consolidated EBITDA margin reached 40%, one of the highest levels recorded.
Profitability and Financing Improvements
Operating profit rose 12% YoY to MXN 50.5 billion. Comprehensive financing costs declined ~9.9% YoY (lower net interest), contributing to net income increasing 25% YoY to MXN 23.4 billion (MXN 0.39/share; $0.44/ADR).
Prudent Balance Sheet and Cash Deployment
Net debt stood at MXN 437 billion (1.41x EBITDA after leases). Strong cash flow covered MXN 21.6 billion in CapEx, MXN 1.4 billion in share buybacks, MXN 1.5 billion in labor obligations, and reduced net debt by MXN 1 billion during the quarter.
CapEx Guidance and Strategic Optionality
Management expects 2026 CapEx around $7 billion (subject to FX) and signaled appetite for M&A and buybacks while targeting a net-debt/EBITDA nearer to ~1.3x; buyback fund increased with an additional MXN 10,000 million to reach MXN 21,000 million.
High Fiber Penetration and Upselling
Fiber penetration reaches ~93% of the broadband base; company upgraded speeds (almost +33% on some tiers) and is monetizing through bundled offerings for residential and small business customers.
Positive Operational Momentum across Regions
Strong commercial execution noted in Brazil (portability gains aided by NuCel partnership), Colombia, Peru, Central America and Eastern Europe with ongoing 5G and fixed–mobile convergence investments driving revenue and EBITDA growth.