Core Viewpoint - Millicom International Cellular S.A. has announced the acquisition of Telefónica Móviles del Uruguay S.A. for an enterprise value of USD 440 million, which is part of its strategy to strengthen its position in South America [2][5]. Strategic Rationale - The acquisition is expected to be EFCF accretive as early as 2026, driven by operational efficiencies and integration with Millicom's existing regional operations [3][8]. - The deal diversifies Millicom's cash flow sources and is supported by Uruguay's stable macroeconomic environment and investment-grade credit rating of BBB+ [4][10]. - Marcelo Benitez, CEO of Millicom, emphasized the company's commitment to investing in mobile infrastructure and improving service quality in Uruguay [5]. Market Outlook - Uruguay has the highest GDP per capita in Latin America at USD 22,400 (2024), with a stable currency and favorable regulatory environment for foreign investment [10]. - The telecommunications market in Uruguay is competitive, with three mobile network operators and a growing mobile market, which has been expanding at approximately 4% annually since 2022 [10]. Operational Synergies - The acquisition of Telefónica Uruguay, the second-largest mobile operator in the country, is expected to create significant synergies across network, operations, and commercial integration with Millicom's existing operations in Paraguay and Bolivia [9][10]. - The transaction is anticipated to enhance Millicom's digital ecosystem, enabling improved service bundling and innovation [9].

Core Viewpoint - Millicom International Cellular S.A. has approved the cancellation of 3,096,305 treasury shares, reducing its issued share capital to USD 253,500,000 represented by 169,000,000 shares [1][2]. Company Overview - Millicom is a leading provider of fixed and mobile telecommunications services in Latin America, operating under the TIGO® and Tigo Business® brands [3]. - The company offers a variety of digital services, including mobile financial services (TIGO Money), local entertainment (TIGO Sports), pay TV (TIGO ONEtv), high-speed data, voice services, and business-to-business solutions such as cloud and security [3]. - As of March 31, 2025, Millicom employed approximately 14,000 people and served over 46 million customers, with a fiber-cable footprint covering more than 14 million homes [3]. - Founded in 1990, Millicom is headquartered in Luxembourg, with principal executive offices located in Doral, Florida [3].

Core Points - Millicom International Cellular S.A. held its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) on May 21, 2025, where all proposed resolutions were adopted by shareholders [2][5] Group 1: AGM Resolutions - The number of directors was set at eight, with re-elections for María Teresa Arnal, Bruce Churchill, Blanca Treviño de Vega, Jules Niel, Pierre-Emmanuel Durand, Maxime Lombardini, and Justine Dimovic, and Pierre Alain Allemand was elected as a new director [3] - Maxime Lombardini was elected as Chair of the Board of Directors [3] - The annual accounts and consolidated accounts for the year ended December 31, 2024, were approved [4] - A dividend distribution of USD 3 per share will be paid in four equal installments on or around July 15, 2025, October 15, 2025, January 15, 2026, and April 15, 2026 [4] - KPMG was re-elected as the external auditor of Millicom [5] Group 2: EGM Resolutions - The Share Repurchase Plan was approved [5] - Amendments to the articles of association were passed, including the authorization to cancel repurchased shares and the removal of certain governance requirements [7] - Shareholders will be allowed to participate in general meetings through electronic means and video conference [7] Group 3: Company Overview - Millicom is a leading provider of telecommunications services in Latin America, offering a range of digital services including mobile financial services, pay TV, and business solutions [9] - As of March 31, 2025, Millicom employed approximately 14,000 people and served over 46 million customers with a fiber-cable footprint covering over 14 million homes [9]

Revenue and Profitability - Revenue for Q1 2025 was $1,374 million, a decrease of 7.6% compared to $1,487 million in Q1 2024[7] - Operating profit increased to $423 million, up 30.6% from $324 million in the same period last year[7] - Net profit for the period was $219 million, significantly higher than $82 million in Q1 2024, representing a 167.1% increase[7] - Earnings per share (basic and diluted) rose to $1.14, compared to $0.54 and $0.53 in Q1 2024, respectively[7] - Total comprehensive income for the period was $212 million, up from $88 million in the previous year[9] - Service revenue for Q1 2025 reached $1,438 million, a 7.4% increase from $1,526 million in Q1 2024[44] - Adjusted EBITDA for Q1 2025 was $738 million, slightly down from $741 million in Q1 2024[48] - The Group's net profit for the period was $171 million, compared to $219 million in the same period last year[78] - Net profit attributable to owners of the company was $193 million, up 110.2% from $92 million in Q1 2024, including approximately $95 million in one-time gains[92] Cash Flow and Financial Position - Cash and cash equivalents decreased to $534 million from $699 million at the beginning of the year[14] - The company reported a cash flow from operating activities of $348 million, an increase from $240 million in Q1 2024[13] - Equity free cash flow (EFCF) was $135 million, a significant increase of $172 million compared to negative $37 million in Q1 2024[84][94] - The company targets 2025 EFCF of around $750 million and aims for year-end leverage below 2.5x[85] - Total assets as of March 31, 2025, were $13,662 million, slightly down from $13,737 million at the end of 2024[10] - Total liabilities increased to $10,309 million from $10,163 million at the end of 2024[11] - Total debt and financing as of March 31, 2025, was $5.772 billion, slightly down from $5.815 billion as of December 31, 2024[62] - Cash balance was $535 million, down $165 million from $699 million at the end of 2024[98] Shareholder Returns and Dividends - An interim dividend of $0.75 per share was approved, following a previous interim dividend of $1.00 per share paid on January 10, 2025[16] - The share repurchase program resulted in a cash outflow of $119 million during the quarter[14] - The company repurchased 4,216,397 shares for a total of $119 million during the three-month period ended March 31, 2025[16] - The company signed a binding agreement to sell Lati Paraguay to Atis Group and proposed an annual dividend of $3.00 per share[86] Capital Expenditures and Investments - Capital expenditures for Q1 2025 totaled $142 million, compared to $124 million in Q1 2024[46] - Millicom added property, plant, and equipment worth $113 million during the period, compared to $89 million in the same period last year[58] - Tigo Colombia's capital expenditures for the three-month period ended March 31, 2025, included $33 million in Guatemala and $40 million in Colombia[44] - Capital commitments as of March 31, 2025, amounted to $277 million, with $268 million due within one year[69] Market Performance and Customer Metrics - Customer net additions included 262,000 Postpaid Mobile and 62,000 Home FTTH/HFC[87] - The mobile business ended Q1 2025 with 41.6 million customers, reflecting a 2.3% year-on-year increase and net additions of 89,000 during the period[105] - Mobile ARPU declined by 5.2% year-on-year to $6.0, primarily due to weaker foreign exchange rates, despite positive ARPU growth in local currency terms in most countries[107] - Home ARPU also declined to $24.8 in Q1 2025 from $28.3 in Q1 2024, with home service revenue at $340 million[137] Strategic Initiatives and Acquisitions - Millicom entered into a definitive agreement to acquire Telefonica's 67.5% equity stake in Coltel for a purchase price of $400 million, subject to adjustments[29] - The company continues to focus on enhancing its service offerings and expanding its market presence through strategic initiatives and potential acquisitions[1] Financial Risks and Challenges - The adoption of amendments to IAS 21 resulted in a negative impact of $188 million on the financial statements for the three-month period ended March 31, 2025[25] - Tax risks exposure for the Group's subsidiaries was estimated at $296 million, with provisions of $46 million recorded[68] - The average foreign exchange rate for Bolivia showed a significant depreciation of 40.4% year-on-year, impacting revenue calculations[141]

Group 1 - Millicom International Cellular SA (TIGO) reported quarterly earnings of $1.14 per share, exceeding the Zacks Consensus Estimate of $0.91 per share, and showing a significant increase from $0.54 per share a year ago, resulting in an earnings surprise of 25.27% [1] - The company posted revenues of $1.37 billion for the quarter ended March 2025, which was 3.81% below the Zacks Consensus Estimate and a decrease from $1.49 billion in the same quarter last year [2] - Millicom's shares have increased approximately 36% since the beginning of the year, contrasting with a decline of 4.3% in the S&P 500 [3] Group 2 - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The estimate revisions trend for Millicom is currently mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.89 on revenues of $1.44 billion, and for the current fiscal year, it is $3.10 on revenues of $5.75 billion [7] Group 3 - The Wireless Non-US industry, to which Millicom belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact the stock's performance [8]

Financial Performance - Millicom reported Q1 2025 revenue of $1.374 billion, a decrease of 7.6% compared to Q1 2024, with organic revenue decline of 1.6% [4] - Operating profit increased by 30.8% to $423 million, while net profit reached $193 million, significantly up from $92 million in the previous year [4][8] - Adjusted EBITDA was $636 million, a slight increase of 0.6% year-over-year, with organic growth of 6.9% [4] Cash Flow and Capital Expenditure - Equity free cash flow (EFCF) for Q1 2025 was $135 million, a substantial increase of $172 million compared to Q1 2024, excluding disposals [5][8] - Capital expenditures (Capex) rose by 16.7% to $132 million [4] Customer Growth and Market Activity - The company experienced robust customer net additions, with 262,000 postpaid mobile and 62,000 home FTTH/HFC customers added in Q1 2025 [8] - Millicom's CEO highlighted strong commercial activity levels sustained from H2 2024, indicating positive market engagement [5] Future Outlook - Millicom targets an EFCF of approximately $750 million for the full year 2025, with a year-end leverage goal below 2.5x [6] - The targets are based on expected savings from efficiency measures implemented in 2024 and lower restructuring costs in 2025, despite potential foreign exchange impacts [6]

Core Viewpoint - Millicom is set to announce its first quarter 2025 results on May 8, 2025, and will host a video conference for the global financial community on the same day [1]. Company Overview - Millicom (NASDAQ U.S.: TIGO) is a prominent provider of fixed and mobile telecommunications services in Latin America, operating under the TIGO® and Tigo Business® brands [4]. - The company offers a diverse range of digital services and products, including mobile financial services (TIGO Money), local entertainment (TIGO Sports), pay TV (TIGO ONEtv), high-speed data, voice services, and business-to-business solutions such as cloud and security [4]. - As of December 31, 2024, Millicom employed approximately 14,000 people and served over 46 million customers through its mobile and fiber-cable services, with a fiber-cable footprint covering over 14 million homes [4]. - Millicom was founded in 1990 and is headquartered in Luxembourg, with its principal executive office located in Doral, Florida [4].

SEB informs Millicom (Tigo) it has completed the sale of shares Luxembourg, April 23, 2025 – Millicom International Cellular S.A. ("Millicom") completed the delisting of its Swedish Depositary Receipts (SDRs) from Nasdaq Stockholm on March 17, 2025, resulting in the Nasdaq Stock Market in the United States being the sole exchange where its common shares are listed. SEB, the SDR program custodian bank, informed Millicom today that it has completed the sale of approximately 5,110,103 shares underlying the SDR ...

Core Insights - Millicom has released its 2024 Annual Report, highlighting a transformative year in the telecommunications industry in Latin America [1][2] - The report emphasizes a renewed strategic focus, operational efficiency, and a commitment to expanding digital inclusion across the region [2] Company Overview - Millicom, operating under the TIGO brand, is a leading provider of fixed and mobile telecommunications services in Latin America, offering a wide range of digital services including mobile financial services, local entertainment, and pay TV [4] - As of December 31, 2024, Millicom employed approximately 14,000 people and served over 46 million customers, with a fiber-cable footprint reaching about 14 million homes [4] Strategic Positioning - The company is positioned to capitalize on new opportunities in the telecommunications sector, supported by robust fixed and mobile networks, comprehensive digital platforms, and diverse content offerings [3] - Millicom aims to meet the growing demand for connectivity and digital services while maintaining consistent financial performance [3]

Millicom (Tigo) releases its 2024 Annual Report, marking a year of transformation in Latin America’s telecommunications industry Luxembourg, April 08, 2025 –Millicom, a leading provider of fixed and mobile services in Latin America, announces today the release of its 2024 Annual Report, which includes the standalone financial statements of Millicom International Cellular S.A. for the year 2024. This year’s report reflects a period of profound transformation for the company, driven by a renewed strategic fo ...