Millicom reports 2Q results

21 Jul 2010

Millicom International Cellular has published its second-quarter results for the three months ended 30 June 2010, which show a 14% increase in revenue to USD929 million and a 17% jump in EBITDA to USD436 million, giving an EBITDA margin of 47%. Central America generated the largest portion of turnover, at USD330 million, followed by South America (USD323 million), Africa (USD219 million) and Cable (USD56 million). Net profit for the period was USD134 million, compared to USD114 million in 2Q 2009. Mikael Grahne, president and CEO of Millicom commented: ‘The group has made continued good progress in the second quarter. We have demonstrated an increasing level of control and consistency over the past 18 months: our operating model and strategy, focused on string branding, market-leading distribution, customer-orientated innovation and a low cost base, are proving successful and sustainable’. Millicom’s total customer base stood at 36.729 million at the end of June, up from 30.758 million a year earlier. Of this number 1.8 million were using 3G-enabled devices. The group claimed 13.37 million customers in Central America at the end of June (up 10% year-on-year), 9.239 million in South America (up 15%) and 14.119 million in Africa (up 34%).

Luxembourg, Millicom International Cellular (MIC)