Getting Back On Track

Millicom Chief Executive Officer Mauricio Ramos commented:

“During the third quarter, we continued to follow the crisis management playbook we implemented in March, which prioritizes employee and customer safety and retention, keeps our communities connected, and protects cash flow, while also investing to support long term strategic initiatives, such as network investment, digital transformation, and expansion of our mobile financial services offering.

The recovery that began in June continued throughout the third quarter. Lockdowns eased in most of our markets, driving record levels of customer additions in our prepaid mobile and residential cable businesses, and revenue increased compared to the second quarter. These trends are encouraging; we are confident that we can achieve our revised 2020 target of generating about $1.4 billion of OCF, and we have reduced our net debt by about $240 million since the end of March.

Our operating and financial performance still remains below pre-COVID levels, especially in postpaid mobile and B2B, and the countries where we operate continue to face unprecedented health and macroeconomic challenges. As a result, we continue to follow a prudent approach in our planning for the year ahead. That said, we remain bullish about the long-term growth potential we see in our markets, and we continue to invest to capture that opportunity."

Spotlight on our markets - Panama, becoming Tigo


In this latest addition to our quarterly results video series, we invite you to take a look at the Becoming Tigo video which highlights the rebranding efforts in Panama that consolidate the mobile business under the Tigo brand, as a key component of the Central America integration strategy.

This is yet another milestone in our purpose of building digital highways that connect people, improve lives, and develop communities. Watch and enjoy!

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