Millicom 2Q18 revenues up 4.8% to USD1.5bn

20 Jul 2018

Millicom International Cellular (MIC), which offers mobile and cable broadband in Latin America under the Tigo and Tigo Star banners, and mobile services in selected African markets, has reported quarterly revenue of USD1.541 billion for the three months ended 30 June 2018, up 4.8% from USD1.470 billion year-on-year. EBITDA, meanwhile, jumped 5.2% to USD551 million in Q2 2018, while MIC recorded a net loss of USD1 million in the second quarter, compared to a deficit of USD27 million in 2Q17.

In operational terms, MIC reported that its Latin America mobile user base climbed 0.3% on an annualised basis, to reach 31.790 million at 30 June. LatAm 4G customers surged 68.5%, from 4.734 million to 7.979 million, while the number of HFC RGUs jumped 21.6%, to 4.843 million. African mobile subscribers increased 5.8%, to 15.429 million, meanwhile.

MIC CEO Mauricio Ramos said: ‘The investments we have been making are now delivering faster and more predictable organic revenue growth. In LatAm, mobile revenue growth improved to more than 2%, with Bolivia leading the way with more than 6% … Clearly, our strategy is working, and with growth back on track, we continue to sharpen our focus on costs, and operational efficiency improvements are driving cash flow growth in many areas.’

Luxembourg, Millicom International Cellular (MIC)