Millicom International Cellular (MIC), which offers mobile and cable broadband services throughout Africa and Latin America under the Tigo and Tigo Star brands, has booked a 5.7% year-on-year decline in total revenue for the three-month period ended 30 June 2016. Revenue for the quarter was USD1.572 billion, down from USD1.666 billion a year earlier, whilst EBITDA dropped from USD560.88 million to USD541.61 million over the same period, although EBITDA margin grew to 34.5% from 32.9%. MIC attributed the fall to ‘sluggish macro-economic conditions,’ noting that difficult conditions in several markets were exacerbating the decline in legacy voice and SMS services. Despite the decline in turnover, the operator reversed a net loss of USD99.25 million in Q2 2015 to net profit of USD43.67 million on the back of increases in non-operating income and income from associates.
In terms of subscribers, MIC counted a total of 57.79 million mobile users at 30 June 2016, up from 57.49 million in Q1 2016, but down from 59.33 million in the year-ago period. In the cable broadband market, meanwhile, MIC reported a total of 5.47 million revenue generating units (RGUs), compared to 5.42 million in the previous quarter and 5.24 million in Q2 2015.