MIC’s Latam growth offsets African slowdown

Millicom International Cellular (MIC) has reported first-quarter revenues of USD1.168 billion, an increase of 8.4% year-on-year. Net profits for the three-month period dropped by 13.1% y-o-y to USD159 million as CAPEX more than doubled, rising to USD172 million from USD85 million a year earlier. EBITDA grew by 2.2% y-o-y to USD517 million, though the EBITDA margin dipped by 2.9 percentage points to 44.2%, keeping in line with the group’s target of maintaining EBITDA margins in the mid-40s.*MIC’s South American operations - comprising providers in Bolivia, Colombia and Paraguay - saw revenue growth of 17.4% to USD455 million, making up 38.9% of the group’s total revenues for the quarter

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OVETEL MIC’s Latam growth offsets African slowdown