Millicom International Cellular Sa ( (TIGO) ) has released its Q4 earnings. Here is a breakdown of the information Millicom International Cellular Sa presented to its investors.
Millicom International Cellular S.A., operating under the Tigo brand, is a leading telecommunications provider in Latin America, offering a range of digital services including mobile and fixed telecommunications, mobile financial services, and entertainment products. Headquartered in Luxembourg, the company serves over 46 million customers across the region.
In its latest earnings report for 2024, Millicom reported a robust financial performance, surpassing its equity free cash flow target with $777 million, and reducing its leverage to 2.42x. The company also reinstated shareholder remuneration, reflecting its strengthened financial position following a successful restructuring program.
Key financial highlights for the year include a 2.5% increase in revenue to $5.80 billion and a significant 62.5% rise in operating profit to $1.34 billion. EBITDA grew by 16.9% to $2.47 billion, and the company achieved a net income of $253 million. Millicom also reported strong commercial activity with notable increases in postpaid mobile and home FTTH/HFC net additions.
Looking ahead, Millicom aims to generate around $750 million in equity free cash flow for 2025, focusing on strategic initiatives in Costa Rica and Colombia, and completing a planned tower divestment. The company remains committed to driving efficiency and accelerating revenue growth, with a continued emphasis on digital inclusion and community development.