Millicom International Cellular Sa ( (TIGO) ) has released its Q2 earnings. Here is a breakdown of the information Millicom International Cellular Sa presented to its investors.
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Millicom International Cellular S.A. is a telecommunications company that provides fixed and mobile services in emerging markets, primarily in Latin America, under the TIGO brand. The company is known for its focus on high-speed broadband and digital lifestyle services.
In its latest earnings report for the first half of 2025, Millicom reported a decrease in group revenue by 6.8% to $2,746 million, attributed mainly to weaker currencies in Bolivia, Colombia, and Paraguay. Despite the revenue decline, the company achieved a significant net profit increase to $869 million, up from $170 million in the same period last year, largely due to gains from asset sales.
Key financial highlights include a reduction in operating expenses by 11.3% and a decrease in equipment and programming costs by 14.1%, driven by currency impacts and cost reduction initiatives. Millicom also reported a gain of $604 million from the partial sale of Lati International and Lati Paraguay. The company has continued to focus on strategic initiatives, including a mobile network sharing agreement in Colombia and a new shareholder remuneration policy with regular cash dividends.
Looking forward, Millicom aims to achieve an equity free cash flow of around $750 million for the full year 2025, with a target to reduce leverage below 2.5x. The company remains focused on efficiency measures and strategic asset sales to bolster its financial position amidst challenging economic conditions in its operating regions.