Strong Subscriber Growth — Wireless and Postpaid
Added 2.5 million wireless subscribers in Q4 (2.8 million postpaid net adds; 298,000 prepaid losses), ending the quarter with 331 million wireless subscribers. Postpaid base grew 8.4% year‑on‑year, with notable postpaid net adds: Brazil +644,000; Colombia +276,000; Peru +148,000; Mexico +135,000.
Fixed Broadband and Access Expansion
Connected 524,000 broadband accesses in Q4 (84,000 Mexico; 113,000 Brazil; 57,000 Argentina; 49,000 Colombia). Fixed broadband access growth accelerated to 5.6% year‑on‑year and fixed broadband revenue rose 6.4% year‑on‑year. PayTV added 77,000 units.
Revenue Growth (Reported and Constant Currency)
Q4 revenue of MXN 245 billion, up 3.4% in Mexican pesos year‑on‑year and up 6.2% at constant exchange rates. Service revenue expanded ~5.3% (company highlighted service growth and the impact of incorporating Chile from Nov 2024).
Mobile Service & Postpaid Revenue Strength
Mobile service revenue increased 6.2% year‑on‑year; postpaid revenue rose 7.6% year‑on‑year. Prepaid revenue pace maintained its strongest level in at least five quarters, with Mexico postpaid/broadband acceleration noted.
EBITDA and Operating Profit Expansion
EBITDA grew to MXN 95 billion, up 4.2% in MXN terms and up 6.9% at constant exchange rates. Operating profit was MXN 49 billion, up 5.9% nominally and 8.3% at constant exchange rates — reflecting improved operating leverage.
Material Net Profit Improvement
Comprehensive financing costs roughly halved versus prior year quarter, driving net profit of MXN 19 billion in Q4 — approximately 4x the profit of the year‑earlier quarter. EPS of MXN 0.32 per share (USD 0.35 per ADR).
Strong Free Cash Flow and Capital Returns
2025 operating cash flow was MXN 213 billion; after CapEx of MXN 131 billion, free cash flow totaled MXN 82 billion — a near 40% year‑on‑year increase. Shareholder distributions were MXN 45 billion (including MXN 12 billion in buybacks).
Balance Sheet Progress / Leverage
Net debt reduced by MXN 20 billion in cash‑flow terms during the year. Net debt to EBITDA after leases at quarter end was ~1.52x and stated to be on a downward trend, near the company's 1.3x–1.5x target range.
CapEx Guidance and Strategic Posture
CapEx target for 2026 and near term reiterated at ~14%–15% of revenues (around $6.8–7.0 billion), with management planning similar levels for the next 2–3 years and prioritizing balance between deleveraging, shareholder returns and targeted regional M&A.