Millicom(US:TIGO)2023-04-29 08:44Financial Performance - Group service revenue grew by 2.2% organically in Q1 2023 reaching organic growth across all business units[16][18] - Total Q1 2023 revenue reached $1,369 million compared to $1,408 million in Q1 2022, representing a 2.8% decrease[131] - Group EBITDA declined to $507 million in Q1 2023 from $564 million in Q1 2022[91] Business Segments and Operations - B2B digital service revenue increased by 28% YoY, with digital services representing 19% of total B2B revenue[27] - Postpaid customer additions reached 168k in Q1 23, bringing the total base to 6.5 million and driving an 8.8% organic service revenue growth[32][34] - Tigo Money service revenue grew by 16.3% YoY in Q1 2023, accompanied by significant growth in digital users and merchants[43][44][45] Strategic Initiatives and Capital Structure - Project Everest aims to achieve over $100 million in annualized run-rate savings by the end of 2024, incurring $15 million in implementation costs during Q1 2023[103][107] - Group net debt stood at $5,983 million while net financial obligations reached $7,009 million as of March 31, 2023, resulting in a group leverage of 3.23x after leases[117] - The company maintains a diversified debt structure with an average maturity of 5.3 years and an average cost of debt of 6.5% as of March 31, 2023[140][141]