Millicom sees 6.5% rise in revenues for second quarter

17 Jul 2013

Luxembourg-based international mobile group Millicom has reported year-on-year revenue growth of 6.5% in its second financial quarter to end-June 2013. The firm said sales stood at USD1.26 billion for the three-month period, and on a like-for-like basis, excluding one-off and regulatory impacts, growth would have reached 9.4%. Earnings before interest, tax, depreciation and amortization (EBITDA) declined to USD463 million from USD513 million a year before. The company said that the decline in EBITDA was predominantly driven by an increase in spending, with sales and marketing costs rising USD37 million compared to the year-earlier period. Normalised net profit, which includes adjustments for foreign exchange movements, dropped from USD177 million to USD135 million.

On the operational side, Millicom saw a 7% increase in its mobile customer base in the year to 30 June 2013 to 47.45 million. The company revealed that over 1.5 million subscribers upgraded to mobile data services in the first six months of this year, and as a result mobile data revenues rose 30% year-on-year. Millicom has operations across Africa and Latin America.

Luxembourg, Millicom International Cellular (MIC)