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The investment of América Móvil during 2024 will be $7.1 US billion with a focus on fiber networks, 5G technology and data centers, announced Daniel Hajj, CEO of the company.

“As we said last call, we have like a three years plan in the Capex, and the rest, what we are going do this year is around 7.1 US billion, we are on track on that. We do a little bit more previous years and that is helping us, as I said, on fiber in Mexico, 5G in other countries, data centers and that is helping us a lot”, said Hajj in the First Quarter Earnings Call.

Hajj emphasize that América Móvil investments in 5G in all the markets and in Mexico the strategy is working very well.

“In wireless market, our 5G network is working very good, we have 125 cities with 5G, good coverage, good quality, and what we are seeing is we are also not increasing prices in wireless and our people are choosing better plans”.

For the next year, the company is still reviewing the Capex because each market is different, said the CEO of América Móvil.

During the first quarter, América Móvil added 1.5 million wireless subscribers, of which 1.3 million were contract clients. 

“Of the postpaid gains, 555 thousand came from Brazil, 260 thousand from Austria, 126 thousand from Colombia and 105 thousand from Mexico. In the prepaid segment we added 263 thousand subscribers with Colombia contributing with 378 thousand net adds, Argentina 226 thousand and Brazil 146 thousand”, mentioned Carlos García Moreno, CFO of América Móvil.

On the fixed-line platform, the company had its best performance in four years and connected 562 thousand broadband lines, “with Mexico adding 325 thousand clients followed by Brazil with 92 thousand and Colombia with 23 thousand”, explained García Moreno.

In Mexico, “we have around 17 million fiber households and 80% of our customers are already with fiber so helps a lot reduce the churn and the customers are in very good speeds”, add Daniel Hajj.

First quarter revenue totaled 203.3 billion pesos and reported an EBITDA of 80.6 billion pesos.