MIC 2Q17 revenues drop 1.5% to USD1.5bn

20 Jul 2017

Millicom International Cellular (MIC), which offers mobile services throughout Africa and mobile/cable broadband in Latin America under the Tigo and Tigo Star banners, has reported quarterly revenue of USD1.52 billion for the three months ended 30 June 2017, down 1.5% from USD1.54 billion year-on-year. EBITDA, meanwhile, dropped 0.5% to USD535 million in Q2 2017, while MIC recorded a net loss of USD28 million, including USD11 million from discontinued operations.

In operational terms, MIC reported that its Latin America mobile user base climbed 0.6% on an annualised basis, to reach 31.699 million at 30 June. LatAm 4G customers surged 148.2%, from 1.908 million to 4.734 million, while the number of HFC RGUs jumped 14.8% to 3.983 million. African mobile subscribers dropped 1.1%, to 21.412 million, excluding the discontinued Senegalese unit, which is classified as ‘held for sale’.

MIC CEO Mauricio Ramos said: ‘We are pleased with our Q2 results. Overall, our LatAm operations saw continued signs of improvement; it was our strongest ever quarter in terms of customer net additions for both our mobile 4G and our fibre-cable network; we are getting better at deploying our HFC network faster and more cost-effectively; and we continue to see strong customer ARPU. As a result, we are raising our long-term ambition to reach 15 million homes passed over the long term, up from our previous target of twelve million previously.’

Luxembourg, Millicom International Cellular (MIC)