Millicom (Tigo) Q4 2024 Earnings Release
Millicom (Tigo) reported strong Q4 2024 and full-year financial results. Q4 revenue reached $1.43 billion with operating profit of $373 million and EBITDA of $618 million. The quarter saw 274,000 Postpaid Mobile and 49,000 Home FTTH/HFC net additions.
Full-year 2024 performance showed revenue of $5.80 billion, up 2.5% year-on-year, with operating profit increasing 62.5% to $1.34 billion. Net income reached $253 million ($1.47 per share), while EBITDA grew 16.9% to $2.47 billion. The company achieved 965,000 Postpaid Mobile and 115,000 Home FTTH/HFC net additions for the year.
Year-end leverage improved to 2.42x, with equity free cash flow of $777 million ($728 million excluding disposals). For 2025, Millicom targets EFCF of around $750 million, reflecting efficiency savings and considering foreign exchange impacts.
Millicom (Tigo) ha riportato risultati finanziari solidi per il quarto trimestre del 2024 e per l'intero anno. Nel quarto trimestre, i ricavi hanno raggiunto 1,43 miliardi di dollari, con un utile operativo di 373 milioni di dollari e un EBITDA di 618 milioni di dollari. Nel trimestre sono stati registrati 274.000 nuovi abbonati mobili postpagati e 49.000 nuove connessioni FTTH/HFC per la casa.
Le performance dell'intero anno 2024 hanno mostrato ricavi di 5,80 miliardi di dollari, in aumento del 2,5% rispetto all'anno precedente, con un utile operativo aumentato del 62,5% a 1,34 miliardi di dollari. L'utile netto ha raggiunto 253 milioni di dollari (1,47 dollari per azione), mentre l'EBITDA è cresciuto del 16,9% a 2,47 miliardi di dollari. L'azienda ha registrato 965.000 nuovi abbonati mobili postpagati e 115.000 nuove connessioni FTTH/HFC per la casa per l'anno.
Il rapporto di indebitamento a fine anno è migliorato a 2,42x, con un flusso di cassa libero da equity di 777 milioni di dollari (728 milioni di dollari escludendo le cessioni). Per il 2025, Millicom punta a un flusso di cassa libero da equity di circa 750 milioni di dollari, riflettendo risparmi di efficienza e considerando gli impatti dei cambi.
Millicom (Tigo) reportó resultados financieros sólidos para el cuarto trimestre de 2024 y para todo el año. Los ingresos del cuarto trimestre alcanzaron 1.43 mil millones de dólares, con un beneficio operativo de 373 millones de dólares y un EBITDA de 618 millones de dólares. En el trimestre se registraron 274,000 nuevos abonados móviles postpago y 49,000 nuevas conexiones de FTTH/HFC para el hogar.
El desempeño del año completo 2024 mostró ingresos de 5.80 mil millones de dólares, un aumento del 2.5% interanual, con un beneficio operativo que creció un 62.5% a 1.34 mil millones de dólares. El ingreso neto alcanzó los 253 millones de dólares (1.47 dólares por acción), mientras que el EBITDA creció un 16.9% a 2.47 mil millones de dólares. La compañía logró 965,000 nuevos abonados móviles postpago y 115,000 nuevas conexiones de FTTH/HFC para el hogar durante el año.
El apalancamiento al final del año mejoró a 2.42x, con un flujo de caja libre de capital de 777 millones de dólares (728 millones de dólares excluyendo desinversiones). Para 2025, Millicom tiene como objetivo un flujo de caja libre de capital de alrededor de 750 millones de dólares, reflejando ahorros de eficiencia y considerando los impactos de los tipos de cambio.
밀리컴 (Tigo)은 2024년 4분기 및 전체 연도 재무 결과를 발표했습니다. 4분기 수익은 14억 3천만 달러에 달하며, 운영 이익은 3억 7천3백만 달러, EBITDA는 6억 1천8백만 달러였습니다. 이번 분기에는 274,000명의 후불 모바일 가입자와 49,000개의 홈 FTTH/HFC 순증가가 있었습니다.
2024년 전체 연도 성과는 58억 달러의 수익을 기록했으며, 이는 전년 대비 2.5% 증가한 수치입니다. 운영 이익은 62.5% 증가하여 13억 4천만 달러에 달했습니다. 순이익은 2억 5천3백만 달러(주당 1.47달러)에 이르렀으며, EBITDA는 16.9% 증가하여 24억 7천만 달러에 달했습니다. 회사는 연간 965,000명의 후불 모바일 가입자와 115,000개의 홈 FTTH/HFC 순증가를 달성했습니다.
연말 레버리지는 2.42배로 개선되었으며, 자본의 자유 현금 흐름은 7억 7천7백만 달러(처분 제외 시 7억 2천8백만 달러)입니다. 2025년을 위해 밀리컴은 약 7억 5천만 달러의 자본 자유 현금 흐름을 목표로 하며, 이는 효율성 절감과 환율 영향을 고려한 수치입니다.
Millicom (Tigo) a annoncé des résultats financiers solides pour le quatrième trimestre de 2024 et pour l'année entière. Au quatrième trimestre, les revenus ont atteint 1,43 milliard de dollars, avec un bénéfice d'exploitation de 373 millions de dollars et un EBITDA de 618 millions de dollars. Le trimestre a vu 274 000 nouveaux abonnés mobiles postpayés et 49 000 nouvelles connexions FTTH/HFC pour le domicile.
Les performances de l'année 2024 ont montré des revenus de 5,80 milliards de dollars, en hausse de 2,5 % par rapport à l'année précédente, avec un bénéfice d'exploitation en hausse de 62,5 % à 1,34 milliard de dollars. Le revenu net a atteint 253 millions de dollars (1,47 dollar par action), tandis que l'EBITDA a augmenté de 16,9 % pour atteindre 2,47 milliards de dollars. L'entreprise a réalisé 965 000 nouveaux abonnés mobiles postpayés et 115 000 nouvelles connexions FTTH/HFC pour le domicile pour l'année.
À la fin de l'année, le ratio d'endettement s'est amélioré à 2,42x, avec un flux de trésorerie libre d'équité de 777 millions de dollars (728 millions de dollars hors cessions). Pour 2025, Millicom vise un flux de trésorerie libre d'équité d'environ 750 millions de dollars, reflétant des économies d'efficacité et tenant compte des impacts des fluctuations de change.
Millicom (Tigo) hat starke Finanzzahlen für das vierte Quartal 2024 und das gesamte Jahr veröffentlicht. Im vierten Quartal erreichten die Einnahmen 1,43 Milliarden Dollar, mit einem operativen Gewinn von 373 Millionen Dollar und einem EBITDA von 618 Millionen Dollar. Im Quartal gab es 274.000 neue Postpaid-Mobilkunden und 49.000 neue FTTH/HFC-Heimanschlüsse.
Die Ergebnisse für das gesamte Jahr 2024 zeigten Einnahmen von 5,80 Milliarden Dollar, ein Anstieg von 2,5% im Vergleich zum Vorjahr, mit einem operativen Gewinn, der um 62,5% auf 1,34 Milliarden Dollar anstieg. Der Nettogewinn erreichte 253 Millionen Dollar (1,47 Dollar pro Aktie), während das EBITDA um 16,9% auf 2,47 Milliarden Dollar wuchs. Das Unternehmen erzielte 965.000 neue Postpaid-Mobilkunden und 115.000 neue FTTH/HFC-Heimanschlüsse im Jahr.
Am Jahresende verbesserte sich der Verschuldungsgrad auf 2,42x, mit einem freien Cashflow von 777 Millionen Dollar (728 Millionen Dollar ohne Veräußigungen). Für 2025 strebt Millicom einen freien Cashflow von etwa 750 Millionen Dollar an, was Effizienzgewinne widerspiegelt und Wechselkursauswirkungen berücksichtigt.
- Revenue up 2.5% YoY to $5.80B
- Operating profit surge of 62.5% to $1.34B
- EBITDA growth of 16.9% to $2.47B
- Strong net income of $253M ($1.47 per share)
- Improved leverage ratio to 2.42x
- Robust equity free cash flow of $777M
- Board reinstated shareholder remuneration
- Strong subscriber growth with 965,000 Postpaid Mobile additions
- Projected weaker foreign exchange rates for 2025
- Risk of adverse legal rulings noted in guidance
- Lower expected EFCF target for 2025 ($750M vs $777M in 2024)
Insights
Millicom (Tigo) has delivered impressive Q4 and full-year 2024 results that mark a successful completion of its restructuring program and signal a transition to a more growth-oriented phase. The company reported Q4 revenue of
The standout metric is the dramatic improvement in profitability, with operating profit surging
The company's deleveraging progress is particularly noteworthy, with year-end leverage reduced to 2.42x, approaching the healthier range for telecom operators and providing greater financial flexibility. This improved financial position has enabled the reinstatement of shareholder remuneration, likely through dividends or share repurchases, signaling management's confidence in sustainable cash generation.
Millicom continues to demonstrate strong commercial momentum in high-value segments, adding 274,000 postpaid mobile and 49,000 home fiber customers in Q4 alone. These premium service categories typically generate higher ARPU and lower churn than prepaid services, supporting long-term revenue stability.
Looking ahead, the
Millicom (Tigo) Q4 2024 Earnings Release
Luxembourg, February 27, 2025 – Millicom is pleased to announce its fourth quarter 2024 results. Please find below links to the Q4 2024 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements.
Q4 Highlights*
- Revenue
$1.43 billion
- Operating profit
$373 million , and EBITDA$618 million
- Net income of
$31 million
- Equity free cash flow
$236 million , leading to year-end leverage of 2.42x
- Robust commercial activity continued in Q4: 274,000 Postpaid Mobile and 49,000 Home FTTH/HFC net additions
Full Year Highlights*
- Revenue
$5.80 billion , up2.5% year-on-year
- Operating profit
$1.34 , up62.5%
- Net income of
$253 million or$1.47 per share
- EBITDA
$2.47 billion up16.9% (15.8% organically)
- Equity free cash flow
$777 million ($728 million excluding disposals) - 965,000 Postpaid Mobile and 115,000 Home FTTH/HFC net additions
| Financial highlights ($ millions) | Q4 2024 | Q4 2023 | Change % | Organic % Change | FY 2024 | FY 2023 | Change % | Organic % Change |
| Revenue | 1,428 | 1,475 | (3.2)% | (1.0)% | 5,804 | 5,661 | | |
| Operating Profit | 373 | 228 | | 1,342 | 826 | | ||
| Net Profit / (Loss) | 31 | (63) | NM | 253 | (82) | NM | ||
| Non-IFRS measures (*) | ||||||||
| Service Revenue | 1,335 | 1,375 | (2.9)% | (0.6)% | 5,417 | 5,250 | | |
| EBITDA | 618 | 557 | | | 2,469 | 2,111 | | |
| Capex | 264 | 262 | | 677 | 809 | (16.3)% | ||
| Operating Cash Flow (OCF) | 354 | 294 | | | 1,791 | 1,302 | | |
| Equity free cash flow (EFCF)** | 236 | 39 | NM | 728 | (18) | NM |
*See page 10 for a description of non-IFRS measures and for reconciliations to the nearest equivalent IFRS measures. ** EFCF excluding disposals.
Millicom Chief Executive Officer Marcelo Benitez commented:
"In 2024, we successfully completed our restructuring program, and strengthened the company’s financial position so we can continue to focus on our purpose: building digital highways, connecting people, and developing our communities. Our strong financial results, lower leverage, and improved outlook led the Board to reinstate shareholder remuneration. I want to express my profound gratitude to the exceptional Tigo teams who enabled this unique transformation.
Although this year marks the end of an intensive restructuring program, our work continues. We remain fully committed to driving greater efficiency and accelerating revenue growth. As we look ahead to 2025, our key priorities include generating sustainably around
2025 Financial Targets
Millicom targets EFCF of around
• IAS 34 Interim Condensed Consolidated Financial Statements
Millicom is planning to host a video conference for the global financial community on February 27, 2025, at 14:00 (Stockholm) / 13:00 (London) / 08:00 (Miami).
Registration for the interactive event is required at the following link. After registering, you will receive a confirmation email containing details about joining the video conference.
Participants may also join the conference in listen-only mode by dialing any of the following numbers and entering the Webinar ID: 834 3825 4041:
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. Accompanying slides and a replay of the event will be available on the Millicom investors website.
For further information, please contact:
| Press: Sofía Corral, Communications Director press@millicom.com | Investors: Michel Morin, VP Investor Relations investors@millicom.com |
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of December 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, 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 February 27, 2025.
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