Mexican telecoms giant America Movil targets steady growth, holds capex at $7 billion

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Mexican telecommunications giant America Movil on Wednesday outlined its financial outlook through 2028, according to a J.P. Morgan analyst note, targeting steady growth in revenue and core earnings while holding capital expenditure stable at around $7 billion per year.The firm's investor day event was closed to press. A spokesperson for America Movil did not immediately respond to a request for comment confirming the figures.At an investor presentation in New York, the company projected that its revenue from services will grow by an average of 4.0% to 5.0% each year from 2026 to 2028. Earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to increase between 4.5% and 6.0% annually over the same period.The Latin American market leader plans to hold its capital spending at around $7 billion per year, totaling $21 billion over the three-year period. Executives said this level of investment is possible because the company has already completed most of its costly purchases of radio frequencies for its 5G network.The stable spending plan is expected to generate significant cash, which America Movil said it will use to buy other companies, pay down its debt and return money to investors.Company executives confirmed they are actively looking for acquisition opportunities, highlighting struggling internet providers in Brazil and telecom operators in Eastern European countries like Serbia and Slovenia.For key markets like Brazil and Colombia, management stated an "aspiration to join the club of 50," referring to a long-term goal of achieving a 50% profit margin.

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