Strong finish to a solid 2021
Millicom has reported a strong finish to 2021, with significant growth metrics highlighted in its latest earnings release. The company achieved a record net addition of 1.1 million postpaid mobile customers and 415,000 cable subscribers, contributing to a 6.7% increase in service revenue and EBITDA growth. The cable business has now reached 40% of its Latin American service revenue, growing by 9.3% in 2021. Additionally, the company acquired the remaining 45% share in its Guatemala operations. Millicom is optimistic about continued growth and profitability in 2022.
- Record 1.1 million postpaid mobile and 415,000 cable subscriber net additions.
- Service revenue and EBITDA grew by 6.7%, marking the fastest organic growth in years.
- Cable business represents 40% of Latin American service revenue, growing by 9.3%.
- Acquired remaining 45% equity interest in Guatemala operations in an accretive deal.
- None.
Strong finish to a solid 2021
Luxembourg, February 11, 2022 – Millicom is pleased to announce its fourth quarter and full year 2021 results. Please find below links to the Q4 2021 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements.
Millicom Chief Executive Officer Mauricio Ramos commented:
“In 2021, we accelerated our investments to meet the heightened demand for connectivity we see in our markets. The immediate impact of this investment is impressive: robust customer growth, including record 1.1 million postpaid mobile and 415,000 cable subscriber net additions, all reflecting the quality of our networks and the strength of our brand. As a result, our service revenue and EBITDA grew
We continued to invest to support the growth of our cable business, which now represents
During the past year, we made great strides toward significantly advancing our ESG agenda. On climate, we have submitted Near-Term Science-Based Targets, and we have action plans that will allow us to meet these goals. Meanwhile, we have continued to strengthen employee engagement and maintained our position as the top ranked telco in the region in the 2021 Great Place to Work survey.
With a clear sense of purpose, the passion of our Sangre Tigo, world-class governance, as well as robust networks and a thriving brand, we have built a solid foundation upon which to deliver sustainable growth and shareholder value creation in 2022 and for years to come."
Video conference details
A video conference to discuss these results will take place on February 11 at 14:00 (Luxembourg/Stockholm) / 13:00 (London) / 08:00 (Miami).
Registration for the live event is required and is available at the following link.
After registering, participants will receive a confirmation email containing details about joining the video conference.
Alternatively, participants can join in a listen-only mode, by dialing any of the following numbers and using webinar ID number 871-5924-8681. Please dial a number base 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.
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 +1-305-929-541 press@millicom.com | Investors: Michel Morin, VP Investor Relations +1-786-628-5270 investors@millicom.com Sarah Inmon, Director Investor Relations +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 telecommunications services dedicated to emerging markets in Latin America and Africa. 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, 2021, Millicom employed approximately 21,000 people and provided mobile services through its digital highways to around 58 million customers, with a fiber-cable footprint of more than 12 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg. For more information, visit: millicom.com. Connect with Millicom on Twitter, Instagram, Facebook and LinkedIn.
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 11, 2022.
Attachments
- Press Release_Millicom_ Q4 Strong finish to a solid 2021_021022
- Millicom - Q4 2021 Earnings Release
- Millicom - IAS 34 Interim Condensed Consolidated Financial Statements
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