AMERICA MOVIL SAB DE CV/ [AMOV] Filings

20-F 1 d305081d20f.htm FORM 20-F Form 20-F

Table of Contents

As filed with the Securities and Exchange Commission on

April 2

, 2022

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM

20-F

☐

REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

☒

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year

ended December 31, 2021

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

☐

SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report______________

For the transition period from _______________ to ________________

Commission file number:

1-16269

AMÉRICA MÓVIL, S.A.B. DE C.V.

(exact name of registrant as specified in its charter)

America Mobile

(translation of registrant’s name into English)

United Mexican States

(jurisdiction of incorporation)

Lago Zurich 245, Plaza Carso / Edificio Telcel, Colonia Ampliación Granada, Miguel Hidalgo, 11529, Mexico City, Mexico

(address of principal executive offices)

Daniela Lecuona Torras

Lago Zurich 245

Plaza Carso

/ Edificio Telcel, Piso 16, Colonia Ampliación Granada, Miguel Hidalgo 11529 Mexico City,

Telephone: (5255) 2581-3700 / Facsimile: (5255) 2581-4422

E-mail:

daniela.lecuona@americamovil.com

(name, telephone,

e-mail

and/or facsimile number and address of company contact person)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class:	Trading symbol	Name of each exchange on which registered
A Shares, without par value	AMOV	New York Stock Exchange
L Shares, without par value	AMX	New York Stock Exchange
3.625% Senior Notes Due 2029	AMX29	New York Stock Exchange
2.875% Senior Notes Due 2030	AMX30	New York Stock Exchange
6.375% Notes Due 2035	AMX35	New York Stock Exchange
6.125% Notes Due 2037	AMX37	New York Stock Exchange
6.125% Senior Notes Due 2040	AMX40	New York Stock Exchange
4.375% Senior Notes Due 2042	AMX42	New York Stock Exchange
4.375% Senior Notes Due 2049	AMX49	New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

The number of outstanding shares of each of the registrant’s classes of capital or common stock as of December 31, 2021:


20,555 million		AA Shares
502 million		A Shares
45,582 million		L Shares


Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.	Yes	✓	No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.	Yes		No	✓


Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.	Yes	✓	No



Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).	Yes	✓	No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a

non-accelerated

filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule

12b-2

of the Exchange Act

✓

Large accelerated filer

Accelerated filer

Non-accelerated

filer

Emerging growth company

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.	Yes	✓	No

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements

included

in this filing

U.S. GAAP

✓

International Financial Reporting Standards as issued by the International Accounting Standards Board

Other

If “other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

Item 17 Item 18


If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).		Yes				No		✓


		TABLE OF CONTENTS

		(See Form 20-F Cross Reference Guide on page 89)

		6		SELECTED FINANCIAL DATA
		9		PART I: INFORMATION ON THE COMPANY
		10		About América Móvil
		16		Our Networks
		17		Our Competitors
		18		Acquisitions, Other Investments and Divestitures
		20		Marketing, Sales and Distribution, Customer Services
		22		PART II: OPERATING AND FINANCIAL REVIEW AND PROSPECTS
		23		Overview
		25		Results of Operations
		31		Liquidity and Capital Resources
		36		PART III: RISK FACTORS
		48		PART IV: SHARE OWNERSHIP AND TRADING
		49		Major Shareholders
		50		Related Party Transactions
		50		Dividends
		51		Trading Markets
		51		Bylaws
		52		Purchases of Equity Securities by the Issuer and Affiliated Purchasers
		53		Taxation of Shares and ADSs
		58		PART V: CORPORATE GOVERNANCE
		59		Management
		63		Corporate Governance
		65		Controls and Procedures
		67		Corporate Sustainability Report
		68		Code of Ethics
		70		PART VI: REGULATION
		85		PART VII: ADDITIONAL INFORMATION
		86		Employees
		86		Legal Proceedings
		87		Principal Accountant Fees and Services
		87		Additional Information
		88		Forward-Looking Statements
		89		Form 20-F Cross Reference Guide
		91		Signatures
		93		PART VIII: CONSOLIDATED FINANCIAL STATEMENTS

Table of Contents


SELECTED FINANCIAL DATA We prepared our audited consolidated financial statements included in this annual report in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). The selected financial information should be read in conjunction with, and is qualified in its entirety by reference to, our audited consolidated financial statements. We present our consolidated financial statements in Mexican pesos. This annual report contains translations of various peso amounts into U.S. dollars at specified rates solely for your convenience. You should not construe these translations as representations that the peso amounts actually represent the U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated. Unless otherwise indicated, we have translated U.S. dollar amounts from pesos at the exchange rate of Ps.20.5835 to U.S.$1.00, which was the rate reported by Banco de México on December 30, 2021, as published in the Official Gazette of the Federation ( Diario Oficial de la Federación , or “Official Gazette”). On November 23, 2021, we completed the sale of our U.S. operations to Verizon Communications Inc. (“Verizon”), as previously disclosed in our press release furnished on a report on Form 6-K on November 23, 2021. As a result, in accordance with IFRS 5, TracFone Wireless Inc.’s (“TracFone”) operations are classified as discontinued operations for all years presented in the consolidated financial information included in this report. Accordingly, results are presented in a single amount as profit after tax from discontinued operations in the consolidated financial information included in this annual report. Operating and financial information presented herein therefore excludes TracFone, including for periods prior to the sale. We have not included earnings or dividends on a per American Depositary Share (“ADS”) basis. Each L Share ADS represents 20 L Shares and each A Share ADS represents 20 A Shares.

Table of Contents




	FOR THE YEAR ENDED DECEMBER 31,

			2019			2020			2021			2021
		(in millions of Mexican pesos, except share and per share amounts)									(in millions of U.S. dollars, except share and per share amounts)
STATEMENT OF COMPREHENSIVE INCOME DATA:
Operating revenues		Ps.		851,483	Ps.		839,707	Ps.		855,535	U.S.		41,564
Operating costs and expenses				707,685			694,204			689,402			33,494
Depreciation and amortization				157,519			162,682			162,627			7,901
Operating income				143,798			145,503			166,133			8,070
Net profit for the year continued		Ps.		60,468	Ps.		34,034	Ps.		74,615	U.S.		3,625
Net profit for the year discontinued				9,845			16,993			121,711			5,913
Net profit for the year		Ps.		70,313	Ps.		51,027	Ps.		196,326	U.S.		9,538
Net profit attributable for the year to:
Equity holders of the parent continued		Ps.		57,886	Ps.		29,860	Ps.		70,712	U.S.

AMERICA MOVIL SAB DE CV/ [AMOV] Filings
AMERICA MOVIL SAB DE CV/ [AMX] Filings
AMERICA MOVIL SAB DE CV/ [AMXVF] Filings
20-F	[2022-04-29]
20-F	[2021-04-29]
20-F	[2020-04-30]
20-F	[2019-04-12]
20-F	[2018-04-26]
20-F	[2017-04-24]
20-F	[2016-04-26]
20-F	[2015-05-01]
20-F	[2014-04-30]
20-F	[2013-04-30]
20-F	[2012-04-30]

AMERICA MOVIL SAB DE CV/ [AMOV] Filings

AMERICA MOVIL SAB DE CV/ [AMX] Filings

AMERICA MOVIL SAB DE CV/ [AMXVF] Filings