Millicom (Tigo) Delivers Sustained Growth Momentum in Q2
Luxembourg,
Millicom Chief Executive Officer
"We had a solid Q2, with service revenue growing organically in every country and business unit for the fourth consecutive quarter, while EBITDA grew both year-on-year and sequentially compared to Q1.
During the quarter, we advanced with our plans to carve out our infrastructure and fintech assets, and we plan to begin unlocking and crystallizing value from these assets with transactions in 2023. We also completed the planned rights offering designed to fund the
Finally, we were very active on the ESG front, as our climate targets were validated by the Science Based Targets initiative. We also joined the
We recognize that the current global macro context has become more challenging, but the business has continued to perform strongly and ahead of our plans thanks to the dedication and hard work of our more than 20,000 employees throughout the region. In light of the very strong cash flow generation that we expect for the second half of this year, I am confident that we will deliver on the commitments we outlined at our recent investor day."
Outlook
We continue to execute on the plans announced at the February Investor Day, and reconfirm the financial targets of organic OCF growth of around 10% per year on average and cumulative EFCF of between
- Q2 2022 Earnings Release
- IAS 34 Interim Condensed Consolidated Financial Statements
Video conference call details
A video conference to discuss these results will take place on
Registration for the interactive event is required at the following link.
After registering, you will receive a confirmation email containing details about joining the video conference. Participants who wish to ask a question during the live event must notify the Investor Relations team via email to investors@millicom.com after the start of the event.
Participants may also join the conference in listen-only mode by dialling any of the following numbers and entering the Webinar ID: 884 4788 3862:
US: +1 929 205 6099
Additional international numbers are available at the following link.
Accompanying slides and a replay of the event will be available on the Millicom investors website.
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For further information, please contact:
Press: press@millicom.com | Investors: investors@millicom.com |
About Millicom
Millicom (NASDAQ
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Attachments
- PR_Millicom (Tigo) Delivers Sustained Growth Momentum in Q2
- Q2 2022 Earnings Release
- IAS 34 Interim Condensed Consolidated Financial Statements
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