MIC books flat first quarter

26 Apr 2017

Millicom International Cellular (MIC), which offers mobile and cable-based services under the Tigo and Tigo Star brands respectively, has reported total revenue of USD1.51 billion for the first three months of 2017. The figure represents a decrease from USD1.53 billion in Q1 2016, though MIC notes that on a like-for-like basis – excluding turnover from Senegal, the sale of which was completed in February 2017 – year-on-year revenue growth for the period was 0.4%. EBITDA for the period totalled USD555 million, up from USD542 million in Q1 2016, though net profit dropped to USD24 million from USD43 million.

Across its Latin American operations, MIC reported a 0.1% y-o-y decline in total mobile subscribers to 31.324 million, but saw strong growth in its data user bases which expanded by 16.6% to 13.042 million. Of that figure, some 3.824 million were 4G subscribers, representing an 184.9% increase from 1.342 million in Q1 2016. Regarding MIC’s cable operations in the region, meanwhile, the group expanded its networks to pass a total of 8.404 million homes from 7.715 million at end-March 2016, whilst RGUs grew 3.9% y-o-y to 5.633 million. In Africa, MIC reported a net subscriber loss, with its mobile user base shrinking from 24.868 million in March 2016 to 21.266 million a year later. Excluding the impact of the discontinuation of its Senegalese unit, MIC claimed a net loss of some 229,000 subscribers and attributed the dip primarily to a SIM registration process in Tanzania.

Luxembourg, Millicom International Cellular (MIC)