Millicom reports upbeat 1Q results

23 Apr 2008

Wireless holding group Millicom International Cellular has reported first quarter results for the three months ended 31 March 2008 which show a 42% increase in revenues to USD801 million compared to the same period of 2007 (and excluding discontinued operations). EBITDA rose 36% to USD336 million, up from USD248 million a year earlier. ‘Millicom recorded the second best quarter in its history in terms of net subscriber additions, adding 2.8 million in the quarter, following the exceptional final quarter of 2007,’ Millicom Chief Executive Marc Beuls said in a statement. New additions took the company’s total subscriber base to 26.2 million, a 39% increase in twelve months. The biggest growth in subscribers came from Honduras, Ghana and Tanzania. ARPU was USD12.7 in the first quarter compared to USD13.9 in the previous three months.

Luxembourg, Millicom International Cellular (MIC)