Luxembourg-based Millicom International Cellular (MIC) reported record quarterly subscriber net additions of 859,968 in Q4 2004, helping drive a 27% increase in revenues to USD255.7 million and a 33% surge in EBITDA to USD123.8 million. Profits for the three-month period under review were USD25.9 million, compared to a USD10.2 million loss in the corresponding 2003 quarter. For the full year MIC posted turnover of USD919.3 million, up 44% on USD638.6 million in 2003 and net profits of USD68.2 million, down from USD178.8 million a year before. Reporting on a strong year for the company, MIC President and CEO Marc Beuls said that Millicom had passed the eight million subscriber barrier on the back of strong performances in Latin America where its offerings have been re-branded under the Tigo banner. Added to this, MIC launched a GSM network in Pakistan which had signed up more than 275,000 users to date.
By the end of December 2004 MIC’s total subscriber base reached 7,713,201, up from 5.69 million users in December 2003. On a proportional basis, the company added 594,538 customers to raise the total to 5.3 million. The operator claimed that strong percentage gains were reported in Ghana (135%), Laos (132%), Tanzania (79%) and Vietnam (79%).