Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Millicom International Cellular S.A. "Best Quarter Ever for Net Subscriber Additions"

Q2 2017 Highlights (i)


News provided by

Millicom International Cellular

19 Jul, 2017, 20:40 GMT

Share this article

Share toX

Share this article

Share toX

LEUDELANGE, Sweden, July 19, 2017 /PRNewswire/ --

  • Best quarter ever for net additions of 4G mobile and HFC customers
    • 1.2 million 4G mobile net additions to 5.0 million subscribers
    • 68,000 new HFC homes connected to 2.2 million
  • High-speed data network expansion continues at a brisk pace, consistent with our strategic goals
    • 328,000 new HFC homes passed – 1.2 million added in last twelve months
    • Raising our long-term ambition to 15 million homes passed.
  • Service revenue 0.2ppts higher than Q1 at -1.3%
    • Five out of six Latam countries showing better growth in Q2 than Q1 (ii)
  • Group EBITDA declined 1.3% organically as market conditions remain challenging in Africa region.
  • Solid cash flow generation continues, with H1 equity free cash flow (iii) up $82 million year-on-year
  • Further balance sheet optimisation with agreement to sell 1,200 towers in Colombia

Summary of key financial indicators

$m (excluding Senegal) 

Q2 2017

Q2 2016

% change

H1 2017

H1 2016

% change

Revenue

1,517

1,540

-1.5%

3,022

3,039

-0.6%

    Organic growth (ii)

-1.8%

0.3%


-2.0%

1.0%


Service revenue

1,423

1,439

-1.1%

2,843

2,846

-0.1%

    Organic growth (ii)

-1.3%

1.7%


-1.4%

2.7%


EBITDA

535

538

-0.5%

1,090

1,077

1.2%

    Organic growth (ii)

-1.3%

2.4%


-0.7%

4.3%


EBITDA margin

35.3%

34.9%


36.1%

35.5%


Capex (ex spectrum)

242

216

12.2%

396

411

-3.6%

OCF (EBITDA – Capex )

293

322

-9.0%

694

667

4.1%

(i) The financial information presented in this earnings release is with Guatemala (55% owned) & Honduras (66.7% owned) as if fully consolidated. IFRS Revenue was $1,048 million in Q2 2017; see page 18 for reconciliation with IFRS numbers. With the exception of balance sheet items, the comparative 2016 financial information in this earnings release has been adjusted for the classification of our operations in Senegal as discontinued operations (in accordance with IFRS 5).

(ii) Organic growth represents year-on-year growth in local currency at constant perimeter, and includes regulatory changes. See page 20 for reconciliation with reported measures. See page 19 for definition of Alternative Performance Measures.

(iii) Equity Free Cash Flow is Operating Cash Flow less taxes paid, interest paid (net) and advances for dividends to non-controlling interests.

Millicom Chief Executive Mauricio Ramos commented:

"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 12 million previously.

Although we still face challenges in the Latam region, results to date are progressing mostly in line with our plans.  Revenue growth is improving in all Latam markets except Colombia, driven by robust growth in mobile data and in our Home segment. In Colombia, where we still have a lot of work to do, the strong customer growth during Q2 gives me confidence that the second half of the year will be better than the first.

We continue to rapidly expand our high-speed data networks to meet the growing needs of our customers, eager to adopt the Digital Lifestyle. At the same time, we strive to be a responsible corporate citizen and have a positive impact in the countries and communities where we operate. I am very proud that we were recently recognized as a Top 20 Great Places To Work in Latin America, and we received the prestigious Andesco Award for Corporate Social Responsibility in Colombia.

In Africa, our primary objective this year is to ensure that the region can fund itself going forward. We remain confident that we will achieve this goal in 2017 notwithstanding the challenging operating conditions that we have seen year-to-date.

At the Group level, we remain laser-focused on identifying and extracting operating efficiencies, and we produced 40 basis points of margin expansion year-on-year while delivering significant customer net additions during the quarter."

2017 Outlook

Our 2017 full year outlook, based on constant currency and at a constant perimeter with Guatemala and Honduras fully consolidated, remains unchanged as summarized in the table below. We expect results near the low-end of this guidance, mostly to reflect weaker than expected results from our African operations.  We continue to anticipate achieving equity free cash flow breakeven for the Africa region. Meanwhile, our Latin America region is trending in line with our expectations.     


Outlook

Service revenue (a)

Low single-digit % organic growth

EBITDA

Mid-to-high single-digit % organic growth

Capital expenditure

In line with 2016

Operating Cash Flow (b)

Growth around 10%

(a) Service revenue is Group revenue excluding telephone and equipment sales

(b) Operating Cash Flow is EBITDA less capex (excluding spectrum and license costs)

Subsequent Events

On July 4, 2017, our Paraguayan subsidiary signed a five-year loan agreement with the IPS (Instituto de Prevision Social) and the Inter-American Development Bank for a total amount of PYG 367,000 million (approximately US$66 million). The loan, denominated in local currency, will carry a 9.75% interest rate and start amortizing in Q4 2019.

On Friday July 14, 2017, the International Commission Against Impunity in Guatemala (CICIG), disclosed an ongoing investigation into alleged illegal campaign financing that includes a competitor of Comcel, our Guatemalan joint venture.  The CICIG further indicated that the investigation would include Comcel. Currently, we have no further information regarding the scope or status of the investigation.

On July 18, 2017, we announced that our subsidiary, Colombia Móvil ("Tigo"), signed an agreement to sell approximately 1,200 wireless communications towers to a subsidiary of American Tower Corporation in Colombia. As a result, Tigo will receive approximately COP 448 billion, equivalent to US$147 million, in cash.

Conference call details

A presentation and conference call to discuss these results will take place on 20 July 2017 at 2:00 PM (Stockholm) / 1:00 PM (London) / 8:00 AM (New York). Please dial in 5-10 minutes before the scheduled start time to register your attendance. Dial-in numbers for the call are as follows:

Sweden: +46 (0) 8 5065 3942     
UK: +44 (0) 330 336 9411
US: +1 719-325-2226    
Luxembourg: +352 2787 0187

The access code is: 5088688

A live audio stream and slides of the analyst presentation can also be accessed at www.millicom.com.   

Financial calendar

24 October 2017 (after US market close) - Third Quarter 2017 Results

25 October 2017 - Third Quarter 2017 Results Conference Call

CONTACT:

Contacts

Investors
Michel Morin +352 277 59094
Mauricio Pinzon +44 (0) 20 3249 2460
investors@millicom.com

Press
Vivian Kobeh +352 277 59084
press@millicom.com

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/millicom-international-cellular/r/millicom-international-cellular-s-a---best-quarter-ever-for-net-subscriber-additions-,c2314136

The following files are available for download:

http://mb.cision.com/Main/950/2314136/702458.pdf

Millicom Q2 2017 Results Release

http://mb.cision.com/Public/950/2314136/a0c1aba6db627429.pdf

Millicom Q2 2017 Results Presentation

http://mb.cision.com/Public/950/2314136/83cd67aa0bf936e6.xlsx

Financial and Operational Data Q2 2017

SOURCE Millicom International Cellular

Related Links

http://www.millicom.com

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.