UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF A FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2020

Commission File Number: 1-16269

AMÉRICA MÓVIL, S.A.B. DE C.V.

(Exact Name of the Registrant as Specified in the Charter)

America Mobile

(Translation of Registrant’s Name into English)

Lago Zurich 245

Plaza Carso / Edificio Telcel, Piso 16

Colonia Ampliación Granada, Miguel Hidalgo

11529 Mexico City, Mexico

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

América Móvil’s second quarter of

2020 financial and operating report

Mexico City, July 14^th, 2020 - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the second quarter of 2020.

América Móvil Fundamentals    

⁽¹⁾ Net Income / Average Shares outstanding

⁽²⁾ 20 shares per ADR

⁽³⁾ EBITDA / Average Shares Outstanding

América Móvil’s Subsidiaries as of June 2020    

The reported figures for Argentina corresponding to the second quarter of 2020 are presented in accordance with a) IAS29 reflecting the effects of the adoption of inflationary accounting that became mandatory after the Argentinean economy was deemed to be hyperinflationary in the third quarter of 2018 and b) IAS21 translated to Mexican pesos using the end-of-period exchange rate.

All comparisons at constant exchange rates for America Movil’s consolidated figures will exclude Argentina to ensure consistency.

Relevant Events

On May 4th, we returned to the U.S. dollar debt markets issuing a ten-year note in the amount of one billion dollars. The coupon on the note, 2.875%, is the lowest we have had for that tenor in dollars.

We are currently working on the development of alternatives that would allow us to reap more benefits from our tower assets, creating value for our shareholders and enabling us to reduce debt even further.

Access Lines

The confinement measures adopted throughout our region of operation had an important impact on our commercial activities partly on account of the closure of shops and customer care centers and partly because they generally curtailed the mobility of population and hence the demand for mobile services.

Altogether we lost slightly more than 5 million mobile subscribers: 500 thousand in the postpaid segment with most operations seeing a reduction in their postpaid base, with the notable exceptions of Colombia and Telekom Austria; and 4.6 million disconnections in the prepaid segment, in which all our operations registered net disconnections, save for Tracfone in the U.S. and Colombia— both of which added slightly more than 200 thousand clients. Prepaid disconnections were more important in Mexico, 1.7 million subs; Peru, 1.0 million; and Ecuador and Guatemala, at approximately 450 thousand each.

In contrast, on the fixed-line segment we gained 450 thousand new broadband clients with every operation posting an increase in clients, except for Telekom Austria. There were, however, disconnections of voice lines and PayTV services, particularly in Brazil which accounted for 190 thousand PayTV disconnections out of 250 thousand for the Group as a whole.

We ended June with a total of 358.5 million access lines, which includes 277.5 million wireless subscribers and 81 million fixed-line RGUs. It is of note that our Colombia operation managed to increase access lines in all fixed and mobile products during the quarter.

Wireless Subscribers as of June 2020         

⁽¹⁾ Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated.

Fixed-Line and Other Accesses (RGUs) as of June 2020

⁽¹⁾ Fixed Line, Broadband and Television (Cable & DTH). Central America figures have been adjusted in accordance with the methodolgy used for all AMX operations.

América Móvil Consolidated Results

Towards the end of the first quarter, with financial markets in disarray as the employment numbers in the U.S. collapsed threatening to worsen the economic contraction stemming from lockdown measures aimed at controlling the spread of the COVID 19 virus, the Federal Reserve announced a huge monetary quantitative expansion program. This decisive action gradually stabilized the financial markets allowing for new issuance of securities throughout the second quarter and quelled the excess demand for U.S. dollars that had resulted in its appreciation vis-à-vis practically all other currencies. Since then, substantially all Latin American currencies began to recover— with the notable exception of the Brazilian real which declined an additional 4.8% vs. the dollar. At any rate, the Mexican peso, the Colombian peso and the Chilean peso— all of which had dropped sharply in the first quarter— ended up appreciating 3.0%, 7.9% and 4.1% respectively in the second quarter in which practically all our region of operation was under lockdown.

Our second quarter revenues totaled 252 billion pesos, up slightly from the year-earlier quarter, 0.6%, in spite of equipment revenues falling 27.2%, as service revenues increased 6.5% in Mexican peso terms on account, for the most part, of the depreciation of our reporting currency vs. the dollar and the euro over the year— approximately 15%. Save for TracFone in the U.S. and Puerto Rico, all our operations saw marked reductions in their equipment sales as a result of the confinement restrictions but also because of our more restrictive conditions for handset financing in most operations.

At constant exchange rates— excluding Argentina given its hyper inflationary accounting methodology— service revenues were up 0.8%, with those generated on the mobile platform rising 2.3% and those coming from the fixed-line one declining 1.7%. The deceleration in service revenue growth— from +5.0% in the first quarter to +0.8% in the second— resulted from the direct impact of the confinement measures put in place throughout the region and its economic fallout.

Mobile service revenue growth slowed down from the fast pace observed in the first quarter, 8.4%. Brazil and Colombia were the top performers in terms of mobile revenues, with increases of 8.8% (proforma) and 4.8% respectively. Peru, the U.S., Uruguay and Puerto Rico also observed mobile service revenue increases.

The deceleration in mobile service revenue growth was practically identical in prepaid and in postpaid. In prepaid, revenues were affected by the lockdown measures as clients sometimes found it difficult to effect recharges as most shops were ordered shut, including our own customer care centers. The impact on revenues was felt more strongly in countries where prepaid services are more prevalent, including Mexico and the Dominican Republic.

América Móvil’s Income Statement Millions of Mexican pesos

* Total revenues include Other Revenues.

n.m. Not meaningful.

In postpaid, revenue growth slowed down as clients switched to lower cost plans in anticipation of the economic difficulties they were to face. In various cases small and medium sized enterprises that had to close under the confinement restrictions sought to discontinue the service or reduce its cost even if that represented a more limited availability of data services. We tried to stay close to our clients and help them find plans better suited for them given the economic difficulties that many were undergoing and to ensure that they would stay current in their payments. In percentage points the decline in postpaid growth rates was steepest in Ecuador and Panama.

On the fixed-line platform the impact of COVID was more limited, with the pace of decline of revenues going from -0.7% in the first quarter to -1.7% in the second quarter, mostly on account of falling PayTV revenues. In Colombia fixed-line revenues accelerated to 9.9%, up from 9.5% the prior quarter. Fixed-broadband services continued to lead the way within the group with revenues increasing 7.3%, very much in line with the pace seen the prior two quarters. With only one exception, all our operations posted fixed-broadband revenue increases in the quarter. Our less mature fixed-line operations, including Ecuador, Peru, Argentina and Costa Rica all performed well, with the pace of growth picking up speed.

Second quarter EBITDA totaled 82.6 billion pesos, up 5.9% in Mexican peso terms, with the EBITDA margin climbing 1.7 percentage points to 32.9%. At constant exchange rates it increased 3.3% reflecting in part the impact of a new agreement reached by Tracfone in the U.S. by which certain reductions in network costs that were applied from January 1st.

Our operating profit jumped 10.5% to 40.9 billion pesos and helped bring about a net profit of 20.1 billion pesos in the second quarter, after allowing for financing costs of 11.1 billion pesos— 6.3% lower than in the year-earlier quarter. Our net profit, equivalent to 30 peso cents per share and 26 dollar cents per ADR, was up 40%.

At the end of June our net debt totaled 765 billion pesos, up from 677 billion pesos at the close of 2019, which reflects among other things an increase in the values of dollar and euro denominated debts vis-á-vis the Mexican peso. It stood at 1.89 times EBITDA under IAS 17. In cash flow terms our net debt came down by 8.3 billion pesos in the six months to June. In addition to the above, our cash flow allowed us to cover capital expenditures in the amount of 63.6 billion pesos and to devote 6.2 billion pesos to fund labor-related obligations.

Balance Sheet - América Móvil Consolidated Millions of Mexican Pesos

Includes current portion of Long Term Debt.

Financial Debt of América Móvil* Millions

* This table does not include the effect of forwards and derivatives used to hedge our foreign exchange exposure.    

Mexico

On account of the confinement restrictions and their impact on our commercial operation, including that of number portability, during the second quarter we disconnected 1.7 million prepaid subscribers and 112 thousand postpaid clients on the mobile platform. At the end of June our postpaid base was up 4% year-on-year while our prepaid base was down 1.9%. On the fixed-line segment we gained 64 thousand broadband clients but lost 141 thousand telephony lines.

Our second quarter Mexican revenues declined 14.2% from the year-earlier quarter to 62.9 billion pesos, mostly on account of a 47.1% drop in equipment revenues. With confinement measures in place and most shops closed, demand for handsets was much weaker.

Service revenues declined 2.1% in the period dragged down mostly by mobile service revenues— down 2.5% year-on-year, compared to the 10.4% pace registered the prior quarter— as restrictions on mobility affected the demand for mobile services. In the case of prepaids, this effect was compounded by the greater difficulties clients faced to effect recharges, with most shops and customer care centers shut. To facilitate that our clients remained connected in spite of the extraordinary circumstances Telcel offered an emergency plan that subscribers could activate once, at any moment during the crisis period and that provided a basket of voice and data services that could be used over a period of 15 days free of charge. To-date, we have activated nearly 28 million AMIGO CONTIGO plans.

On the fixed-line platform the impact on service revenues was less severe, having gone from a 0.5% increase the prior quarter to a -1.4% reduction. Fixed-broadband revenues continued to expand, 1.8%, but revenues derived from corporate networks were off 3.3%.

EBITDA came in at 24.4 billion pesos, having fallen 10.3% year-on-year. However, the EBITDA margin increased 1.7 percentage points to 38.8% given the steep reduction of equipment revenues.

Towards the end of the quarter, as restrictions began to be lifted, an improving trend became apparent in the mobile segment.

We receive authorization from IFT to acquire from Axtel 50MHz of spectrum in the 3.5GHz frequency nationwide. Following this acquisition, Telcel will have a total of 100MHz in that band.

INCOME STATEMENT - Mexico Millions of MxP

* Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

⁽¹⁾ 2019 reflects reclassifications of “other revenues”.

Mexico Operating Data

* Fixed Line and Broadband.

Argentina

For comparison purposes all comments in this section related to annual variations of the presented period for Argentina refer to figures in constant peso terms, that is, adjusted for inflation in accordance to NIC 29. Information for Uruguay and Paraguay is not presented in the table.

Total revenues of 25.6 billion Argentinean pesos were 10.1% below those of the year-earlier quarter dragged down by equipment revenues that plummeted 44.5%. Service revenues declined 3.1% after inflation, with mobile service revenues falling 4.9% and fixed-line service revenues rising 13.9%. In mobile, those coming from postpaid clients were down 6.9% as some subscribers under lockdown have moved to lower-cost plans or have migrated to prepaid, whereas in the prepaid segment service revenues expanded 3.4%. We have continued to expand our fiber footprint in Argentina and to grow at a good pace our fixed-broadband and PayTV revenues. The former increased 10.9% after inflation, whereas the latter was up nearly ten times from a very small base. In a relatively short period our fixed-line service revenues have come to represent over 11% of our service revenues.

EBITDA contracted 18.9% to 9.8 billion Argentinean pesos, with the margin falling 4.1 percentage points in relation to total revenues. We have tried to contain costs implementing several policies, but this has not been enough to mitigate the effects of the sharp devaluation of the Argentinean peso in the period and the ensuing inflation-linked costs.

INCOME STATEMENT - Argentina Millions of Constant ARS of June 2020

* Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

Argentina Operating Data

* Fixed Line, Broadband and Television.

⁽¹⁾ Hybrid subscribers are now included in our postpaid figures.

Brazil

Confinement measures in Brazil were introduced later than in most other countries in South America and were comparatively more relaxed thus had less of an impact on our commercial activity. We basically broke even in the postpaid segment in the second quarter, but lost 156 thousand prepaid subscribers. Our postpaid subscriber base was up 25.8% from the year before. On the fixed line platform we connected 101 thousand new broadband accesses— connectivity has been essential through the pandemic— reinforcing our market position in this division and reaching 6.7 million clients in the ultra-broadband segment. On the other hand, we disconnected 190 thousand PayTV units and 459 thousand landlines, so we ended June with 33.3 million fixed-line RGUs, 4.4% less than a year before.

Our Brazilian revenues reached 9.5 billion reais in the second quarter and were flat year-on-year on a proforma basis (adjusted for the acquisition of Nextel in December), with service revenues expanding 0.8%. Mobile service revenues rose 8.8% on the back of postpaid revenues that were up 11.8% over the year-earlier quarter, having slowed down from a 17.2% pace in the precedent quarter.

On the fixed-line platform, service revenues declined more rapidly— -4.4% vs -3.4% the prior quarter— in spite of fixed-broadband revenues staying on trend at a nearly 10% pace as PayTV revenues deteriorated further, declining -11.7% from -8.5% the prior quarter. Given the continued fast growth of fixed-broadband revenues and decline of PayTV revenues, the former are about to overtake the latter ones to become Claro’s single most important business unit.

EBITDA was up 10.7% to 3.8 billion reais— amongst the top performers— as costs and expenses fell 6.1%. The EBITDA margin shot up nearly 4 percentage points from the year before to 40.0%, the highest margin rate we have posted in the country.

INCOME STATEMENT - Brazil Proforma Millions of BrL

* Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

Brazil Operating Data    

* Fixed Line, Broadband and Television.    

⁽¹⁾ We modified the methodology for calculating MOUs. We no longer include M2M subscribers.    

Colombia

Colombia was amongst the first countries to impose lockdown measures and most our stores and customer service centers remained closed until May. Notwithstanding the above, our Colombian operation managed to add clients on all segments during the quarter: 38 thousand postpaid subscribers, 253 thousand prepaids, more than 100 thousand broadband accesses, 30 thousand PayTV units and 47 thousand landlines.

Second quarter revenues totaled 3.1 trillion Colombian pesos, 0.9% more than a year before, with service revenues increasing 6.8% over the prior year as both the mobile and fixed-line segments continued their positive trends, making Colombia the top performer in service revenue growth in the quarter. Equipment revenues fell 18.4% as in most countries on account of the restrictions on mobility imposed in the context of the pandemic.

On the mobile platform, revenues held up well but decelerated from a 9.6% pace in the first quarter to 4.8% in the second quarter. In the case of prepaids, revenues expanded 7.5%, less rapidly than in the prior quarter, 13.5%, whereas in the postpaid segment, revenues increased 3.5% over the prior year, down from 7.7% the preceding quarter, as Claro offered basic connectivity to those subscribers that could not afford to pay for their service during the period.

Fixed-line service revenues for their part accelerated to a 9.9% pace from 9.5% in the first quarter topping one trillion Colombian pesos. Broadband revenues rose 14.4%, up from 11.2% in the precedent quarter, while revenues from corporate networks expanded in line with the prior two quarters, 19.2%.

Second quarter EBITDA of 1.3 trillion Colombian pesos was 2.3% lower than that obtained a year before. The decline in EBITDA is related to a sharp increase in bad debt provisions and to the contraction of handset sales— they used to provide a good margin. The EBITDA margin hence fell to 42.2% from 43.7% a year before.

Beginning in April we began using the spectrum that was granted to Claro early this year which has been instrumental in increasing our capacity. We continue to work to ensure continuity and quality of service. At this moment the country remains under “state of emergency” with strict lockdown measures.

INCOME STATEMENT - Colombia Billions of COP    

* Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

Colombia Operating Data    

* Due to differences in the policy for accounting active subscribers, the figures in this report are different from those published by the Ministry of Communications of Colombia (MinTIC). ** Fixed Line, Broadband and Television.

⁽¹⁾ We modified the methodology for calculating MOUs. We no longer include M2M subscribers.

Chile

Customer Service Centers and stores have remained partially closed since the beginning of the pandemic. While we were allowed to take in clients that need special assistance and certain repairs, sales have been very restricted. Some states have begun to ease the lockdown measures, but it is not the case for Santiago where contagion rates have remained high.

We disconnected 174 thousand wireless subscribers in the second quarter but added 20 thousand broadband accesses on the fixed line platform.

Our revenues, 182 billion Chilean pesos, were 14.1% lower than those obtained a year before, with equipment revenues falling 42.7% and service revenues declining -7.0%: -5.0% on the mobile platform and -9.4% on the fixed-line one. On the mobile postpaid segment revenues were -0.6% below those of the year before compared to +3.8% in the first quarter while mobile prepaid revenues were down -31.8% from a year before, in line with the pace of decline observed the last few quarters.

The reduction in fixed service revenues was mainly brought about by a 19.7% contraction in PayTV revenues as clients ceased to pay for special content mostly related to sports, but also by an 11.2% decline in revenues from corporate networks. Fixed-broadband revenues actually increased 8.1% from -0.2% in the first quarter.

At 39.2 billion Chilean pesos, second quarter EBITDA was 6.1% lower than that of the year-earlier quarter in spite of which the EBITDA margin actually increased 1.8 percentage points in relation to total revenues: given important cost adjustments, it also increased slightly in relation to service revenues.

INCOME STATEMENT - Chile Millions of ChPL

* Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

⁽¹⁾ 2019 reflects restatements of fixed and mobile revenues.

Chile Operating Data

* Fixed Line, Broadband and Television.

Ecuador

Ecuador implemented drastic lockdown measures at a very early stage of the pandemic. The country was already undergoing tough economic conditions that are aggravated by its being a dollar-based economy, all which greatly affected the business activity during the second quarter, when we disconnected 588 thousand mobile subscribers including 476 thousand prepaids.

Revenues declined 27.5% to 242 million dollars with equipment revenues plummeting 84.6% and service revenues declining -16.1%. Mobile service revenues were heavily impacted, falling -18.9%, while fixed-line service revenues increased 16.4%

On the prepaid segment service revenues fell -27.5% from -10.2% in the first quarter since the lockdown was stringent and points of sale were reduced to only a few. On postpaid, the decline in revenues was -12.9% compared to -2.4% in the prior quarter and was associated, for the most part, with measures designed to ensure connectivity for clients unable to pay for their service. These measures will continue for as long as the state of emergency remains.

The sharp reduction in revenues brought about a 16.9% reduction in EBITDA, to 121 million dollars. We made very major efforts to adjust our costs downwards in the face of sharply declining revenues. Towards the end of the quarter there were several indicators that pointed to a recovery.

* Revenues reflect eliminations derived from both the overlap of fixed and mobile operations as well as international intercompany transactions. Total revenues include other income.

* Fixed Line, Broadband and Television.    

Peru

At the beginning of the pandemic Peru implemented very strict lockdown measures and mobility was restricted more than in any other country. Stores were closed for the most part and we were restricted on activating new lines over digital platforms. We ended up disconnecting 1.2 million wireless subscribers of which nearly one million were prepaid. However, on the fixed platform we activated 71 thousand new broadband accesses, 64% more than in the precedent quarter.

Second quarter revenues topped 1 billion soles in Peru, with service revenues increasing 3.8% from the year-earlier quarter, making Peru the second fastest growing operation in the period as sales expanded on both the fixed and the mobile platforms.

Mobile service revenues were up 1.7% with prepaid revenues accelerating to a 1.9% pace after at least five quarters of declines and postpaid revenues increasing 1.6%. Our fixed-line division had a big boost in the quarter from broadband services, leading to an 11.0% increase in fixed-line service revenues with those associated with broadband services expanding 32.9%, up from 26.1% in the first quarter.

We began implementing very strict cost control policies more than two years ago, and these measures were key in driving EBITDA growth of 10.6% in the second quarter in spite of the spike in bad debt provisions, with Peru becoming, together with Brazil, the countries with the fastest EBITDA expansion. EBITDA amounted to 391 million soles and was equivalent to 37.6% of revenues, which represents a margin expansion of 9.6 percentage points over the period.

Beginning on the 1st of July mandatory lockdown was partially relaxed and we have been able to open 30% of our stores thus far. We have made important efforts during the sanitary crisis to cope with all measures and ensure continuity of our service.