Telecomunicazioni
Millicom Returns to Positive Revenue Growth
* Excludes Ghana EBITDA of approximately $8 million in both Q3 2017 and Q3 2016 and of $26 million in both 9M 2017 and 9M 2016.
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"Over the past two years, we have accelerated the deployment of our high-speed data networks, both mobile and fixed, and our efforts are starting to pay off. Growth is coming back, and we are seeing positive momentum in our largest markets.
In Latam, I am particularly pleased with our performance in Paraguay , Bolivia , and Guatemala . In these three countries, revenue growth in our Home unit exceeds 20%, and B2C Mobile is growing again. In Colombia , we continue to make the investments needed to drive sustainable and profitable growth over the medium to long term.
In Africa , we made progress toward our strategic goals by merging our business in Ghana with Airtel's to create a strong and viable operation. We also saw a significant improvement in revenue growth trends in the region, buoyed by Tanzania , which reported its strongest rate of growth in more than one year.
As we approach the end of 2017 and continue planning for 2018, I am confident that we have the strategy in place to produce faster growth and generate higher returns and free cash flow over time."
On 12 October 2017 , we completed the transaction announced on 3 March 2017 with Bharti Airtel Limited to combine our operations in Ghana . The Ghana business has been accounted for as a discontinued operation at 30 September 2017 and will be accounted for as a joint venture from 12 October 2017 .
On 12 October 2017 , our Bolivia operation placed approximately $80 million of local currency debt in three tranches, with an average term of 6.6 years and an average interest rate of 4.66%.
On 15 October 2017 , we completed the redemption of our 6.625% Senior Notes due 2021, as announced on 11 & 20 September 2017 .
Our Latam segment continues to perform in line with our expectations, excluding regulatory impacts. Stronger than expected customer intake has been an additional drag on EBITDA year-to-date, but this is now beginning to deliver faster growth. For Q4, we anticipate year-on-year constant currency service revenue growth in the range of 2% to 4% and EBITDA growth of 4% to 6% for our Latin America region. With Senegal and Ghana now accounted for as discontinued operations, the perimeter for the group has changed, and Africa now represents less than 10% of Group revenue. We continue to expect that our Africa operations will generate positive equity free cash flow in 2017.
A presentation and conference call to discuss these results will take place on 25 October 2017 at 2:00 PM ( Stockholm ) / 1:00 PM ( London ) / 8:00 AM ( New York ). Please dial in 5-10 minutes before the scheduled start time to register your attendance. Dial-in numbers for the call are as follows:
Sweden: +46 (0) 8 5033 6574
UK: +44 (0) 330 336 9105
A live audio stream and slides of the analyst presentation can also be accessed at www.millicom.com.
Apr 12 – Last day for shareholders to add items to the AGM/EGM agenda
May 4 – AGM / EGM (Location: Luxembourg )
Press:
Vivian Kobeh, Corporate Communications Director
+1 305 476 7352 / +1 305 302 2858
press@millicom.com
Investors:
Michel Morin , VP Investor Relations
+352 277 59094
investors@millicom.com
Mauricio Pinzon , Investor Relations Manager
Tel: +44 20 3249 2460
investors@millicom.com
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