reports
- Chris Hoare
Global EM Telcos & Towers The impossible dream – NSR GEM Top-10 March...
2025 was such a strong year for EM Telcos with the result that while remaining bullish we thought it was not plausible that 2026 would be as strong. Yet if anything the year has started better than 2025, with our picks up 18% ytd already, and up 113% since the start of 2025.
- Chris Hoare
- David Lopes
- Chris Hoare
- Chris Hoare
Mexican Cable/FTTH Megacable the clear outperformer in Q3; Q3 25 revi...
Q3 was a slightly slower quarter for the Mexican Broadband market from a top line and EBITDA growth perspective. However, subscriber net adds remained decent, in line with the previous quarters. Financially, Megacable was the clear outperformer in Q3 with double-digit revenue and EBITDA growth and widened the gap with peers.
Moody's Ratings says America Movil's Baa1 ratings and stable outlook u...
Moody's Ratings (Moody's) comments that America Movil, S.A.B. de C.V.'s ("America Movil")'s Baa1 ratings and stable outlook remain unchanged following the company's announcement that it plans a combined issuance for up to MXN15,000 million ($800 million) in senior unsecured notes. The issuance is th...
- Chris Hoare
- Chris Hoare
- Chris Hoare
- Chris Hoare
- Chris Hoare
America Movil (Buy, TP: $22, +30%) Q1 25 – Slower but decent; FY25 ca...
AMX reported a slower but decent set of Q1 numbers yesterday after the close. Both revenue and EBITDA came in line with consensus with Brazil coming in above expectations but Mexico below. Given the slowdown in Mexican trends, the company has announced that capex this year is expected to be ~$6.7bn
- Chris Hoare
- Chris Hoare
Japanese and EM Telcos 3 Action points for investors in EM and Japane...
No doubt investors are busy fighting fires. But additional to our thoughts from last week we thought it might be helpful to offer 3 further action points for investors in EM & Japanese Telcos that we would be taking in response to market turmoil. Very brief thoughts below.
- Chris Hoare
- Chris Hoare
Global EM Telcos & Towers Introducing the NSR Global EM Telco & Tower...
In a separate note published last week we introduced the NSR GEM-Top 8. However, many of the stocks in that list are not liquid and so, given the tailwinds we now see in the Telco industry we introduce a second list – the GEM Telco & Towers Liquid Compounders; large cap, well-managed telcos in attractive markets at cheap valuations that are likely to generate market-beating returns over time. These are the best large cap investments in the Global EM Telco & Towers space we think.
- Soomit Datta
- Soomit Datta
- Soomit Datta
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