Luxembourg, October 26, 2023 –Millicom is pleased to announce its third quarter 2023 results. Please find below links to the Q3 2023 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements.
Highlights*
Financial highlights ($ millions) | Q3 2023 | Q3 2022 | % change | Organic % Change | 9M 2023 | 9M 2022 | % change | Organic % Change |
Revenue | 1,424 | 1,388 | 2.6% | 1.4% | 4,186 | 4,243 | (1.4)% | 1.1% |
Operating Profit | 209 | 196 | 6.8% | 597 | 678 | (11.8)% | ||
Net Profit / (Loss) | — | (32) | (100.2)% | (19) | 120 | (115.7)% | ||
Non-IFRS measures (*) | ||||||||
Service Revenue | 1,320 | 1,280 | 3.2% | 1.8% | 3,875 | 3,895 | (0.5)% | 2.0% |
EBITDA | 533 | 539 | (1.2)% | (2.0)% | 1,555 | 1,680 | (7.5)% | (5.4)% |
Capex | 180 | 253 | (29.0)% | 547 | 707 | (22.6)% | ||
Operating Cash Flow | 353 | 286 | 23.3% | 22.3% | 1,008 | 973 | 3.6% | 6.7% |
*See page 11 for a description of non-IFRS measures and for reconciliations to the nearest equivalent IFRS measures.
Millicom Chief Executive Officer Mauricio Ramos commented:
"During the third quarter, we continued to advance on the four key priorities I outlined last quarter:
The steps we are taking position the company to achieve its equity free cash flow target of at least $500 million in the 2022-2024 period"
• IAS 34 Interim Condensed Consolidated Financial Statements
Millicom is planning to host a video conference for the global financial community on October 26, 2023, 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 who wish to ask a question during the live event must notify the Investor Relations team via email to investors@millicom.com after the start of the event.
Participants may also join the conference in listen-only mode by dialing any of the following numbers and entering the Webinar ID: 878 9840 3093
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 Directorpress@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 September 30, 2023, Millicom, including its Honduras Joint Venture, employed approximately 19,000 people and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 13 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 October 26, 2023.
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