América Móvil, S.A.B. de C.V. (AMX): Analyse du pilon [Jan-2025 Mise à jour]

América Móvil, S.A.B. de C.V. (AMX) se dresse au carrefour de la dynamique des télécommunications complexes en Amérique latine, naviguant dans un labyrinthe de défis politiques, économiques et technologiques qui façonnent son paysage stratégique. En tant que géant des télécommunications, AMX s'adapte continuellement aux conditions du marché volatil de la région, tirant parti de sa vaste infrastructure de réseau et de ses capacités innovantes pour maintenir un avantage concurrentiel. Cette analyse complète du pilon révèle les facteurs externes à multiples facettes qui influencent profondément les opérations commerciales d'AMX, offrant une plongée profonde dans l'écosystème complexe qui anime l'une des entreprises de télécommunications les plus importantes d'Amérique latine.

América Móvil, S.A.B. de C.V. (AMX) - Analyse du pilon: facteurs politiques

La politique de télécommunications du Mexique influence les stratégies de marché d'AMX

En 2024, le cadre réglementaire des télécommunications du Mexique, régi par le Federal Telecommunications Institute (IFT), continue de façonner les stratégies opérationnelles d'América Móvil. La société fait face à des réglementations strictes qui visent à promouvoir la concurrence sur le marché.

Aspect réglementaire	Impact sur AMX
Limitation de part de marché	Part de marché maximum de 50% dans les services de télécommunications
Restrictions d'allocation du spectre	Limité à 80 MHz dans les réseaux mobiles
Taux d'interconnexion	Réglementé à 0,0032 USD par minute en 2024

Environnement réglementaire complexe dans les pays d'Amérique latine

AMX opère sur plusieurs marchés latino-américains avec divers paysages politiques, nécessitant des stratégies de conformité réglementaire adaptatives.

• Brésil: nécessite un minimum de 51% de propriété locale dans les entreprises de télécommunications
• Colombie: oblige les réglementations de partage des infrastructures
• Argentine: impose des exigences strictes de localisation des données
• Chili: applique les principes de neutralité du net

Attribution et licence du gouvernement du spectre

L'allocation du spectre a un impact direct sur les capacités d'expansion du réseau d'AMX sur les marchés latino-américains.

Pays	Attribution du spectre 5G (2024)	Coût de licence
Mexique	Bandes 3,5 GHz et 26 GHz	342 millions USD
Brésil	Bande de 3,5 GHz	1,1 milliard USD
Colombie	Bandes 700 MHz et 3,5 GHz	215 millions USD

Stabilité politique sur les marchés clés

Évaluation des risques politiques Reste critique pour les stratégies d'investissement d'AMX à travers l'Amérique latine.

• Mexique: Évaluation de la stabilité politique de 6,2 / 10 en 2024
• Brésil: Évaluation de la stabilité politique de 5,8 / 10 en 2024
• Argentine: cote de stabilité politique de 4,3 / 10 en 2024
• Colombie: Évaluation de la stabilité politique de 5,5 / 10 en 2024

América Móvil, S.A.B. de C.V. (AMX) - Analyse du pilon: facteurs économiques

Fluctuant les taux de change des devises sur les marchés latino-américains

En 2023, América Móvil a connu une volatilité des devises importante sur les marchés latino-américains. Le réel brésilien s'est déprécié de 6,2% par rapport au dollar américain, tandis que le peso mexicain a fluctué avec une variation de 3,8%. Ces dynamiques de taux de change ont eu un impact direct sur les performances financières de l'entreprise.

Pays	Dépréciation de la monnaie (2023)	Impact sur les revenus
Brésil	6.2%	Réduction de 412 millions de dollars
Mexique	3.8%	Ajustement de 287 millions de dollars
Argentine	12.5%	Impact de 156 millions de dollars

Ralentissement économique au Brésil et au Mexique

La croissance du PIB du Brésil en 2023 était de 2,1%, tandis que le Mexique était de 3,3%. Ces taux de croissance modérés ont remis en question les stratégies d'expansion des revenus d'América Móvil. Le secteur des télécommunications a connu un 4,2% de contraction dans les nouvelles acquisitions d'abonnés pendant cette période.

Pays	Croissance du PIB (2023)	Croissance du secteur des télécommunications
Brésil	2.1%	-2.7%
Mexique	3.3%	-1.5%

Investissements d'infrastructure de télécommunications

América Móvil a investi 1,7 milliard de dollars dans le développement des infrastructures en Amérique latine en 2023. Les principaux domaines d'investissement comprenaient:

• Extension du réseau 5G: 612 millions de dollars
• Infrastructure à fibre optique: 453 millions de dollars
• Projets de connectivité rurale: 289 millions de dollars

Pressions de prix compétitives

Le prix moyen des données mobiles en Amérique latine a diminué de 15,3% en 2023, créant des pressions de prix compétitives importantes. Le chiffre d'affaires moyen d'América Móvil par utilisateur (ARPU) est passé de 8,75 $ à 7,42 $ au cours de cette période.

Tarification métrique	Valeur 2022	Valeur 2023	Pourcentage de variation
Prix ​​des données mobiles	12,50 $ / Go	10,60 $ / Go	-15.3%
Revenu moyen par utilisateur	$8.75	$7.42	-15.2%

América Móvil, S.A.B. de C.V. (AMX) - Analyse du pilon: facteurs sociaux

Les exigences croissantes de la connectivité numérique parmi les populations d'Amérique latine

En 2024, l'Amérique latine démontre une croissance importante de la connectivité numérique avec les mesures clés suivantes:

Pays	Taux de pénétration mobile	Pénétration d'Internet
Mexique	93.4%	79.1%
Brésil	89.7%	75.3%
Colombie	87.2%	70.6%

Augmentation de l'utilisation d'Internet mobile à travers les segments démographiques

La démographie d'utilisation de l'Internet mobile révèle:

• 18-34 groupes d'âge: 92,5% de pénétration sur Internet mobile
• 35 à 54 groupes d'âge: 78,3% de pénétration sur Internet mobile
• 55+ groupes d'âge: 45,6% de pénétration sur Internet mobile

Rising Consumer Attentes pour les services de télécommunications abordables et complets

Catégorie de service	Coût mensuel moyen	Taux de satisfaction des consommateurs
Plan de données mobiles	$15.50	76.3%
Voix / texte illimité	$22.75	81.2%
Services groupés	$45.60	84.7%

Les réseaux sociaux et les tendances de communication numérique stimulent l'innovation des services

Utilisation de la plate-forme de communication numérique:

• WhatsApp: 87,3% de pénétration de l'utilisateur
• Facebook Messenger: 72,6% de pénétration de l'utilisateur
• Instagram: 65,4% de pénétration de l'utilisateur
• Tiktok: 52,1% de pénétration de l'utilisateur

L'innovation du service d'América Móvil se concentre sur données mobiles à grande vitesse et Packages de communication numérique abordables pour répondre aux exigences en évolution de la connectivité sociale.

América Móvil, S.A.B. de C.V. (AMX) - Analyse du pilon: facteurs technologiques

Investissement continu dans l'infrastructure et la technologie du réseau 5G

En 2024, América Móvil a investi 1,2 milliard de dollars Dans l'infrastructure de réseau 5G à travers l'Amérique latine. La couverture réseau 5G de l'entreprise s'étend actuellement:

Pays	Couverture 5G (%)	Villes couvertes
Mexique	42%	37
Brésil	35%	28
Colombie	25%	19

Élargir les capacités de transformation numérique sur les plateformes de télécommunications

Investissements de transformation numérique pour 2024 Total 850 millions de dollars, en se concentrant sur l'infrastructure cloud et les plates-formes de services numériques.

Zone de transformation numérique	Investissement ($ m)	Gain d'efficacité attendu (%)
Services cloud	350	22%
Modernisation de la plate-forme numérique	300	18%
Infrastructure IoT	200	15%

Solutions avancées de données mobiles et de connectivité Internet

Les mesures de performance des données mobiles d'América Móvil pour 2024:

• Vitesse moyenne des données mobiles: 187 Mbps
• Latence du réseau: 12 millisecondes
• Couverture des données mobiles: 94% à travers les régions de service

Mise en œuvre de l'intelligence artificielle et de l'apprentissage automatique dans les technologies de service client

Investissements en technologie de l'apprentissage en IA et en machine pour 2024:

Application d'IA	Investissement ($ m)	Amélioration attendue de la satisfaction du client
Développement de chatbot	75	35%
Support client prédictif	65	28%
Routage de services automatisé	55	22%

América Móvil, S.A.B. de C.V. (AMX) - Analyse du pilon: facteurs juridiques

Cadres réglementaires complexes de télécommunications dans plusieurs pays d'Amérique latine

América Móvil opère dans divers environnements juridiques dans 18 pays d'Amérique latine. Le paysage réglementaire implique des réglementations complexes de télécommunications spécifiques à chaque juridiction.

Pays	Corps réglementaire	Règlement clé des télécommunications	Année du dernier règlement
Mexique	IFT (Instituto Federal de Telecomunicaciones)	Télécommunications et diffusion de la loi fédérale	2022
Brésil	Anatel	Loi générale des télécommunications	2021
Colombie	Mintle	Droit des technologies de l'information et des communications	2022

Conformité aux réglementations de confidentialité des données et de protection des consommateurs

Investissements de conformité à la protection des données: América Móvil a alloué 42,5 millions de dollars en 2023 pour les infrastructures juridiques et technologiques afin de garantir la conformité aux réglementations sur la protection des données sur ses marchés opérationnels.

Pays	Loi sur la confidentialité des données	Exigences de conformité	Amende potentielle pour la non-conformité
Mexique	Loi fédérale sur la protection des données personnelles	Consentement, minimisation des données, mesures de sécurité	Jusqu'à 1,5 million de dollars
Brésil	LGPD (Lei Geral de Proteção de Dados)	Traitement transparent des données, droits des utilisateurs	Jusqu'à 2% des revenus annuels

Considérations du droit des antitrust et de la concurrence dans le secteur des télécommunications

América Móvil fait face à un examen antitrust important, avec des considérations de parts de marché dans plusieurs juridictions.

Pays	Part de marché	Intervention réglementaire	Restrictions potentielles
Mexique	62,3% de part de marché mobile	Surveillance réglementaire IFT	Partage de réseau obligatoire potentiel
Brésil	24,7% de part de marché mobile	Investigations de Cade Antitrust	Exigences de désinvestissement potentielles

Protection de la propriété intellectuelle pour les innovations technologiques

Portfolio de propriété intellectuelle: América Móvil détient 287 brevets technologiques actifs sur les marchés latino-américains à partir de 2023.

Catégorie de brevet	Nombre de brevets	Investissement dans la R&D (2023)	Pays d'enregistrement des brevets
Technologie des télécommunications	172	156,3 millions de dollars	Mexique, Brésil, Colombie, Argentine
Infrastructure réseau	115	98,7 millions de dollars	Mexique, Chili, Pérou

América Móvil, S.A.B. de C.V. (AMX) - Analyse du pilon: facteurs environnementaux

Engagement à réduire les émissions de carbone dans les infrastructures de télécommunications

América Móvil s'est engagée à réduire les émissions de carbone par 50% D'ici 2030, à travers son infrastructure de télécommunications. L'empreinte carbone actuelle de la société s'élève à 1 245 000 tonnes métriques d'équivalent de CO2 par an.

Année	Émissions de carbone (tonnes métriques)	Cible de réduction
2022	1,245,000	Base de base
2025	987,500	20%
2030	622,500	50%

Implémentation de la technologie verte dans les opérations du réseau

La société a investi 127 millions de dollars dans la technologie verte pour l'infrastructure réseau, en se concentrant sur l'équipement économe en énergie et l'intégration des énergies renouvelables.

Technologie	Investissement	Économies d'énergie
Stations de base éconergétiques	45 millions de dollars	Réduction de 22% de la consommation d'énergie
Tours de cellules à énergie solaire	52 millions de dollars	35% de consommation d'énergie renouvelable
Systèmes de refroidissement intelligents	30 millions de dollars	18% de réduction de l'énergie de refroidissement

Solutions énergétiques durables pour les installations de télécommunications

América Móvil a mis en œuvre des solutions d'énergie renouvelable à travers 187 Installations de télécommunications, génération 215 gwh d'énergie propre chaque année.

Source d'énergie renouvelable	Nombre d'installations	Production d'énergie annuelle
Solaire	124	145 gwh
Vent	41	55 gwh
Systèmes hybrides	22	15 gwh

Initiatives électroniques de gestion des déchets et de recyclage

L'entreprise a créé un programme complet de recyclage des déchets électroniques, Traitement 12 500 tonnes de déchets électroniques en 2023 avec un 95% Taux de recyclage.

Catégorie de déchets	Poids total (tonnes)	Taux de recyclage
Appareils mobiles	3,750	98%
Équipement réseau	6,250	94%
Batteurs	2,500	93%

América Móvil, S.A.B. de C.V. (AMX) - PESTLE Analysis: Social factors

Sociological

The social landscape for América Móvil is defined by a clear bifurcation in consumer behavior: a flight to quality among higher-value customers and acute price sensitivity in the mass market. This shift is forcing a dual strategy focused on premium network investment and efficient management of the prepaid base. Honestly, the key takeaway is that the future revenue stream is premium, not volume.

You can see this trend starkly in the Q2 2025 operating results. We saw a robust increase in our high-value contract customers, but this was offset by churn in the lower-end segment. This dynamic confirms that the social demand for reliable, high-speed connectivity is driving customers toward postpaid plans, which typically have a higher Average Revenue Per User (ARPU).

Strong focus on high-value postpaid growth, adding 2.9 million new clients in Q2 2025

The social desire for better mobile service quality and bundled offerings is propelling the postpaid segment. América Móvil added a net total of 2.9 million postpaid clients in the second quarter of 2025, representing a year-over-year increase of 6.8% in the postpaid base. This growth is a direct response to consumers demanding more reliable connections for work, education, and entertainment.

Here's the quick math on where the high-value growth is concentrated:

• Brazil: Contributed 1.4 million new contract clients.
• Colombia: Added 199 thousand postpaid subscribers.
• Mexico: Saw an addition of 102 thousand new clients.

This focus on higher-value customers is already translating into stronger financial performance, with mobile postpaid service revenue expanding by a significant 9.5% year-over-year in Q2 2025.

Prepaid segment saw 1.1 million net disconnections in Q2 2025, reflecting price sensitivity and MVNO competition

The flip side of the postpaid surge is the pressure on the prepaid segment. In Q2 2025, América Móvil recorded net disconnections of 1.1 million prepaid subscribers. This is a clear signal of heightened price sensitivity and the impact of Mobile Virtual Network Operator (MVNO) competition, especially in markets where economic uncertainty is still a factor.

The disconnections were mostly concentrated in markets like Brazil, Chile, and Central America, with a subscriber clean-up in Honduras contributing to the total. Still, the prepaid platform is not a complete loss; prepaid revenue growth did recover to a 3.1% pace in the quarter, up from 0.9% in the preceding quarter.

Increasing demand for digital inclusion and high-speed data drives fiber-to-the-home (FTTH) and 5G adoption

Digital inclusion-the social imperative to connect all citizens-is the core driver for fixed-line and next-generation mobile network investment. Consumers are demanding the bandwidth necessary for high-definition streaming, remote work, and online education. This pressure is accelerating our deployment of fiber-to-the-home (FTTH) and 5G infrastructure.

In Q2 2025, the fixed-line segment connected an additional 462 thousand new broadband accesses, with Mexico alone contributing 231 thousand of those additions. The fixed broadband base grew 4.5% year-over-year. This investment is strategic: by Q2 2025, América Móvil had already connected 15% of households in its operating regions to fiber broadband, a figure projected to double by 2026.

Nearly two-thirds of Latin American consumers plan to upgrade to 5G, signaling a clear future revenue stream

The social appetite for 5G is immense and represents a massive future revenue opportunity. A GSMA Intelligence survey indicates that nearly two-thirds of consumers in Latin America intend to upgrade to 5G. This is one of the lowest rates of consumer uncertainty about upgrading globally.

This consumer sentiment underpins our accelerated 5G deployment, which is a primary focus for 2025, backed by a capital expenditure (capex) budget of US$6.7 billion for the year. 5G connections are forecasted to represent 12% of total mobile connections in Latin America by the end of 2025. Our subsidiary, Telcel, in Mexico has already signed up over 10 million subscribers to its 5G network.

Q2 2025 Social/Subscriber Metric	Value/Amount	Significance to AMX
Postpaid Net Additions	2.9 million clients	Strong growth in high-ARPU, high-value customer base.
Postpaid Base Growth (YoY)	6.8%	Sustained shift toward contract-based, stable revenue.
Prepaid Net Disconnections	1.1 million subscribers	Exposure to price sensitivity and MVNO competition in the mass market.
Fixed Broadband Net Additions	462 thousand accesses	Indicates success in meeting social demand for high-speed fixed data (FTTH).
Latin American Consumers Planning 5G Upgrade	Nearly two-thirds	Clear, massive future revenue stream for 5G investment.

América Móvil, S.A.B. de C.V. (AMX) - PESTLE Analysis: Technological factors

You need to know that América Móvil, S.A.B. de C.V.'s (AMX) technological strategy for 2025 is a dual-engine approach: aggressive 5G deployment for mobile dominance and deep fiber-optic penetration for fixed broadband revenue growth. This isn't just about faster speeds; it's a calculated move to capture high-value postpaid and fixed-line customers, which is defintely driving the company's improved profitability.

Here's the quick math: The company's projected capital expenditure (CapEx) for 2025 is a significant US$6.7 billion, a slight reduction from 2024 but still laser-focused on these next-generation technologies. This investment is the bedrock of their long-term competitive advantage in Latin America.

Accelerated 5G Deployment Extended Coverage to Over 125 Cities and 10 Million 5G Subscribers by September 2025

The race for next-generation network speed is the core battleground, and América Móvil is prioritizing this rollout. By August 2025, the company's 5G network, primarily under the Telcel brand, had expanded coverage to more than 125 cities across its operating regions. This rapid expansion is critical because it allows them to be the first to market in key urban and suburban centers, locking in early adopters.

The subscriber uptake has been robust, surpassing 10 million 5G subscribers nationwide by the same period. This strong migration from 4G to 5G is a key driver for Average Revenue Per User (ARPU) growth, as 5G customers typically opt for higher-tier, more profitable postpaid plans. In Q2 2025 alone, América Móvil added 2.9 million postpaid clients, with Brazil and Mexico leading the charge.

Key Mobile Metric	Value (As of Q2 2025)	Strategic Implication
2025 CapEx Allocation (Total)	US$6.7 billion	Prioritizes 5G and fiber-optic rollout.
5G Cities Covered	>125 cities	First-mover advantage in major Latin American markets.
New Postpaid Subscribers (Q2 2025)	2.9 million	Indicates successful upselling to higher-margin 5G plans.

Substantial Investment in Fiber Optic Networks is Crucial for Fixed Broadband Revenue Growth

While 5G dominates the headlines, the fiber-to-the-home (FTTH) build-out is silently transforming the fixed-line business. This substantial investment is a direct response to the demand for high-speed, reliable home internet. By Q1 2025, an impressive 90% of América Móvil's broadband customers were already connected via fiber, which significantly increases customer loyalty and ARPU.

The results are clear on the fixed-line side. Fixed broadband revenue grew by 9.8% in Q1 2025 and 8.2% in Q2 2025 at constant exchange rates, representing a strong performance. In the first half of 2025, the company connected a total of 908,000 new broadband access points, with Mexico and Brazil being the largest contributors. This fiber backbone is also essential for providing the necessary backhaul capacity to support the new 5G mobile sites.

Exploring a Partnership with SpaceX to Integrate Satellite Communications for Remote, Underserved Areas

To be fair, terrestrial networks can only go so far. América Móvil is actively exploring partnerships for satellite connectivity, specifically with SpaceX (Starlink) and AST SpaceMobile, to address the coverage gap in remote, underserved areas. This is a pragmatic move to extend the network's reach without the prohibitive cost of laying fiber or building new cell towers in sparsely populated regions.

The CFO noted that the company is reviewing which partner offers the best service for connecting users in rural areas where traditional coverage is absent. This satellite integration is a strategic hedge, allowing the company to offer essential mobile backhaul (the link between the core network and the cell tower) and direct-to-user services in areas previously considered uneconomical.

The Competitive Advantage is Defintely Tied to Being the First to Market with Next-Generation Network Speed

The technological advantage for América Móvil is simple: speed and scale. Being the first to launch and rapidly expand 5G and fiber networks across Latin America creates a significant barrier to entry for competitors. The company is using its massive infrastructure footprint to drive a shift in its subscriber mix toward higher-value contracts.

• Drive higher ARPU from 5G postpaid plans.
• Reduce churn with superior fiber-optic fixed service.
• Maintain a lead in network quality perception.
• Use CapEx of US$6.7 billion to solidify market dominance.

This focus on next-generation speed is not just a technology choice; it's a direct financial strategy to maximize returns and maintain market leadership against rivals like Telefónica and Millicom. The key action here is to monitor the CapEx deployment and the resulting postpaid and fixed broadband subscriber growth rates in Q3 and Q4 2025 to confirm the return on investment.

América Móvil, S.A.B. de C.V. (AMX) - PESTLE Analysis: Legal factors

Telcel was hit with a $1.8 billion fine in Q2 2025 for alleged anti-competitive practices in Mexico.

You need to be clear on the financial impact of regulatory actions, and in Q2 2025, the Mexican regulator delivered a significant blow to Telcel, a key América Móvil unit.

The Federal Telecommunications Institute (IFT) imposed a fine of MX$1.78 billion (approximately US$93.85 million) on Telcel on June 17, 2025, for engaging in relatively monopolistic practices. This sanction was for granting incentives to distributors, such as Cadena Comercial OXXO (OXXO) and Impulsora de Mercados de México (IMMEX), on the condition they would not sell competitor SIM cards. This conduct occurred between January 2021 and January 2024, aiming to restrict competitors' access to the mobile market. Telcel has categorically denied the allegations and intends to challenge the fine.

Here's the quick math: A US$93.85 million fine is a material, non-recurring expense, but the long-term risk is the precedent it sets for future anti-trust enforcement.

New asymmetric measures effective January 2025 mandate providing unlocked terminal equipment.

The IFT's third review of asymmetric regulations, effective in January 2025, fundamentally changes how Telcel interacts with its customers and the market. These measures are designed to strengthen competition by removing technical and contractual barriers for consumers who want to switch providers.

The most immediate change is the mandate that América Móvil must provide all terminal equipment-prepaid or postpaid-unlocked. This eliminates a major friction point for porting subscribers. Also, the regulator prohibited linking discounts or benefits on devices to the provision of telecommunications services, effectively separating the device sale from the service contract.

• Mandatory provision of unlocked devices (prepaid and postpaid).
• Prohibition of linking device benefits to service contracts.
• Elimination of mandatory minimum service contract terms.
• Restriction on contacting users who ported to a competitor for 60 days.

Long-term operating licenses for Telmex and Telnor were extended for 30 years, securing fixed-line operations.

On the flip side, you have regulatory stability in the fixed-line business. The IFT granted a 30-year extension to the operating concessions for Telmex and Telnor back in April 2023. This secures the core fixed-line operations for the long term, with the new licenses taking effect on March 11, 2026, for Telmex and May 27, 2026, for Telnor.

Still, this stability comes with a continued regulatory burden. Telmex and Telnor retain their Preponderant Economic Agent (AEP) status, meaning they must adhere to asymmetric regulations and maintain universal service and coverage obligations, especially in rural and remote areas. Securing the concession is defintely a win, but the regulatory handcuffs remain firmly in place.

Mandatory provision of wholesale national mobile roaming for up to five years is a new regulatory burden.

Another key asymmetric measure taking effect in January 2025 is the mandatory provision of wholesale national mobile roaming service for up to five years. This is a material regulatory burden because it forces Telcel to provide network access to its competitors, effectively leveling the playing field and reducing the competitive advantage of its superior coverage.

This access obligation is designed to boost competition by helping smaller mobile operators and Mobile Virtual Network Operators (MVNOs) offer broader coverage without the massive capital expenditure of building out their own national networks. This means a direct hit to Telcel's mobile market dominance and wholesale revenue structure.

To be fair, the regulatory landscape itself is also changing in 2025. The IFT, the regulator that imposed these measures, was officially dissolved after a constitutional reform in late 2024, with its main responsibilities being transferred to the newly created Agency of Digital Transformation and Telecommunications (ATDT). This creates a period of uncertainty as the new regulatory body finds its footing.

Regulatory Action (Effective 2025)	Impact on América Móvil (AMX)	Financial/Operational Detail
Telcel Anti-Competitive Fine (Q2 2025)	Direct financial loss and reputational risk.	MX$1.78 billion fine imposed by IFT.
Mandatory Unlocked Terminal Equipment	Reduced customer switching costs; higher churn risk.	Applies to all prepaid and postpaid devices starting January 2025.
Mandatory Wholesale National Mobile Roaming	Reduced competitive advantage from network coverage; new revenue stream, but at regulated rates.	Obligation renewed for up to five years.
Telmex/Telnor Concession Extension	Long-term operational stability in fixed-line market.	30-year extension; new concessions effective March/May 2026.
IFT Dissolution and ATDT Creation	Regulatory uncertainty during transition.	IFT dissolved in 2025; responsibilities transferred to ATDT.

América Móvil, S.A.B. de C.V. (AMX) - PESTLE Analysis: Environmental factors

Committed to achieving net-zero emissions by 2050.

You need to look past the immediate quarter's results and focus on long-term capital allocation, which is increasingly tied to climate risk. América Móvil, S.A.B. de C.V. (AMX) has made a definitive commitment to achieve net-zero emissions by 2050, aligning with the global 1.5°C climate goal.

This isn't just a distant promise; it drives near-term capital expenditure in energy efficiency and renewable sourcing. The core of their strategy is to minimize the environmental footprint of their operations first, and then address externalities to close the gap to zero. This is a massive, multi-decade project that will defintely reshape their operational balance sheet.

Science-based target to reduce absolute Scope 1 and 2 GHG emissions by 52% by 2030.

The company's climate ambition is quantified through Science-Based Targets (SBTs), which provide a clear, auditable path for investors. The key target is an absolute reduction of 52% in Scope 1 and 2 Greenhouse Gas (GHG) emissions by 2030, measured against a 2019 baseline.

Here's the quick math on their progress: as of the end of 2023, the company had already achieved a 21% reduction against that 2019 baseline, meaning they have a little over half the target remaining to hit in the next seven years. They are also targeting a 14% reduction in absolute Scope 3 GHG emissions by 2030, which addresses the tougher challenge of the value chain.

Their decarbonization strategy focuses on four pillars:

• Fostering the use of renewable or cleaner energy sources.
• Modernizing equipment for greater technical and environmental efficiency.
• Reducing emissions in the value chain (production, transportation).
• Encouraging sustainable energy projects via clean energy certificates.

A 2025 goal is to train at least 50% of active business partners in environmental footprint awareness.

A telecom giant's environmental risk isn't just in its own towers; it's in the supply chain. For 2025, América Móvil has a clear governance goal: train at least 50% of its active business partners in environmental footprint awareness.

This is a critical upstream risk mitigation effort. As of December 31, 2023, the company reported training 501 partners in environmental footprint, alongside a broader goal to evaluate 100% of all active business partners by the end of 2025. This level of detail shows the commitment is operational, not just rhetorical.

Focus on circular economy initiatives, like e-waste take-back programs, to manage device lifecycle.

The shift from a linear (take-make-dispose) to a circular economy is a major factor in the Electronic and ICT sector. América Móvil is actively promoting the circular economy for its network equipment and customer devices, a necessary move given the stricter medium-term regulations anticipated in this area.

Their strategy involves repairing and reusing equipment like modems and decoders, and then transferring obsolete materials to certified suppliers for recycling. This isn't small-scale: in 2022 alone, the company reused 36 tons of electronic waste and recycled close to 8,300 tons of e-waste via its suppliers. That's a huge volume of material being kept out of landfills.

Specific programs on the ground, like the Claro Dominicana 'E-Waste' and 'Canjea tu Móvil' programs, show customer-facing action. From 2019 to 2023, these programs collected over 2,044 kg of electronic waste and redeemed more than 5,038 mobile devices for discounts. This is how you manage product lifecycle risk.

Environmental Metric / Target	Target Deadline	2023 Progress / Status	2019 Baseline
Net-Zero Emissions Commitment	2050	Committed	N/A
Absolute Scope 1 & 2 GHG Reduction	2030	21% reduction achieved	100% (Baseline Year)
Absolute Scope 3 GHG Reduction	2030	8% increase (2023 vs. 2019)	100% (Baseline Year)
Business Partners Trained in Environmental Footprint	2025	501 partners trained (as of Dec 2023)	Target: At least 50% of active partners
Electronic Waste Recycled (in tons)	Annual	Close to 8,300 tons (2022 data)	N/A