MIC books 9.4% revenue growth

18 Jul 2012

Millicom International Cellular (MIC) has reported revenues of USD1.18 billion for the three months ended 30 June 2012, up 9.4% from USD1.12 billion recorded in the corresponding period of 2011. Earnings before interest, tax depreciation and amortisation (EBITDA) for the period was USD513 million, unchanged year-on-year, whilst its EBITDA margin declined slightly to 43.4% from 45.8%. Capital expenditure, meanwhile almost doubled, rising from USD151 million in Q2 2011 to USD264 million in Q2 2012, as the group invested heavily in expanding 3G capacity and coverage. The company noted that in FY2011 it spent around USD250 million on 3G networks, and it expects to invest around 50% more in FY2012. Net profit for the period was USD212 million, up from USD140 million twelve months earlier. MIC had a total of 44.55 million wireless customers, reporting net additions of 753,000 for the period under review, 420,000 of which were across the company’s African operations whilst 124,000 were in Central America and 209,000 in South America.

Luxembourg, Millicom International Cellular (MIC)