Millicom second quarter EBITDA falls by 0.5%


Millicom said its second quarter earnings before interest, depreciation and AMORTIZATION, EBITDA fell slightly by 0.5%.

EBITDA for the quarter missed analyst estimates to come in at USD535 million as against USD586 million disclosed last year.

Total revenue of USD1,517 million declined 1.5% year-on-year as reported and by 1.8% on an organic basis (in
local currency and at constant perimeter).

Operating expenses declined 1.4% year on year, buoyed by a 3.0% reduction to G&A costs, partly offset by a 1.1% increase in sales and marketing costs.

Millicom Chief Executive Mauricio Ramos said: “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.

He added that “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”.

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