Promising results for MIC

11 Feb 2004

Luxembourg-based mobile operator Millicom International Cellular (MIC) has announced a 44% increase in its worldwide proportionate subscriber base in the year to the end of 2003, taking the total to four million. Of the total, 3.5 million were pre-paid, compared with 2.5 million in 2002. The company reported particularly strong growth in its subsidiaries in Ghana, Senegal, Mauritius, Sri Lanka and Vietnam, while the regions of Asia and Africa recorded their best ever quarter with the total number of subscribers increasing by 45% and 63% respectively during the twelve month period. Revenues increased to USD647 million at the end of 2003, compared to USD605 million a year earlier, while EBITDA grew from USD241,534 to USD318,202.MIC also reported a profit of USD178,823, compared to a loss of USD385,143 the previous year.