A record start to 2021
Millicom reported strong first-quarter results for 2021, highlighting significant growth in customer base and financial metrics. The company added 166,000 Home customers and 1.1 million Mobile customers, marking its best Q1 performance in a decade. Service revenue rose, with Latam growth exceeding 5.5% in March. Millicom also announced the sale of its remaining operations in Africa, aiming to reduce net debt and potentially resume share buybacks later this year.
- 166,000 new Home customers added in Q1 2021, best quarterly result ever.
- 1.1 million new Mobile customers in Q1 2021, strongest performance in a decade.
- Service revenue, EBITDA, and OCF accelerated, ending Q1 positively.
- Latam service revenue growth exceeded 5.5% in March.
- Agreements signed to sell remaining operations in Africa, reducing net debt.
- None.
A record start to 2021
Luxembourg, April 29, 2021 – Millicom is pleased to announce its first quarter 2021 results. Please find below links to the Q1 2021 Earnings Release, and IAS 34 Interim Condensed Consolidated Financial Statements.
Millicom Chief Executive Officer Mauricio Ramos commented:
“Our operational focus and strategic investments over the past year are paying off. After an incredibly strong Q1, we now have more customers, and we are generating more revenue, more EBITDA and more OCF than we did one year ago, before the start of the pandemic. We did not just recover; we are now above pre-COVID levels on most of our operational and financial KPIs.
During the quarter, we added 166,000 customers in Home, by far our best quarterly result ever, and we added 1.1 million customers in Mobile, our strongest Q1 performance in a decade. As a result, service revenue, EBITDA and OCF accelerated in Q1, and the quarter ended on a very positive note, with Latam service revenue growth exceeding
Strategically, we announced that we have signed agreements to dispose of our remaining operations in Africa. The Tanzania sale was the culmination of a structured and competitive process with multiple bidders. We are very pleased with the outcome, and plan to use the proceeds to reduce our net debt. Our strong Q1 and these disposals give us increased flexibility to resume share buybacks later this year."
- Q1 2021 Earnings Release [Attachment]
- IAS 34 Interim Condensed Consolidated Financial Statements [Attachment]
Video conference details
Millicom will host a video conference for the global financial community on April 29, 2021 at 14:00 (Stockholm) / 13:00 (London) / 08:00 (Miami).
Registration for the live event is required and is already available at the following link. After registering, you will receive a confirmation email containing details about joining the video conference. If you would like to ask a question during the video conference, please notify the Investor Relations team by sending an email to investors@millicom.com after the start of the event.
To listen to the conference via telephone, please use one of the following numbers and enter the Webinar ID: 829 3020 3271. Please dial a number based on your location:
US: +1 929 205 6099 Sweden: +46 850 539 728
UK: +44 330 088 5830 Luxembourg: +352 342 080 9265
Additional international numbers are available at the following link.
Replay information:
A replay of the event will be available on the Millicom website.
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For further information, please contact
| Press: Vivian Kobeh, Director Corporate Communications +1-786-628-5300 press@millicom.com Yocasta Valdez, Group Manager Digital Media & Communications +1-305-929-5417 press@millicom.com | Investors: Michel Morin, VP Investor Relations +1 786-628-5270 investors@millicom.com Sarah Inmon, Investor Relations Manager +1 786-628-5303 investors@millicom.com |
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2020, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 55 million customers, with a cable footprint of more than 12 million homes passed. Founded in 1992, Millicom International Cellular S.A. is headquartered in Luxembourg.
Regulatory Statement
This information was prior to this release inside information and is information that Millicom is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on April 29, 2021.
Attachments
- PR_Millicom_A record start to 2021_Q1 21 results_042821
- Millicom - Earnings Release - Q1 21
- Millicom - IAS34 - Q1 21 vf
