Millicom (Tigo) Q3 2023 Earnings Release
- Q3 23 Earnings Release
- Q3 23 IAS 34
- Q3 23 Presentation
- Q3 23 Financial and Operational Data
- Q3 23 Non-IFRS Measures
- Q3 23 Webcast replay
Millicom Chief Executive Officer Mauricio Ramos commented:
"During the third quarter, we continued to advance on the four key priorities I outlined last quarter:
- Colombia: performance was solid with 9% EBITDA local currency growth, record EBITDA margins, and OCF growth of more than 70% year-to-date; we obtained regulatory approval to share our mobile network and spectrum with Telefonica's; and in October, we reached an agreement with our partner EPM to jointly capitalize the business to tap the growth and value creation potential we see in that market;
- Guatemala: we have achieved our objective of sustaining our market share and leadership; we acquired spectrum critical to preserving our brand quality; we took price action to mitigate the effects of inflation, and we saw signs of stabilization during the quarter;
- Project Everest: during Q3, we significantly increased the scope and accelerated the implementation of our efficiency program; the actions taken in Q3 are expected to add $35 million to our original $100 million target, with more initiatives planned for Q4.
- Lati, our Tower and Infrastructure company: we began transferring tower assets to Lati in October, and we expect to launch a monetization process in Q4.
The steps we are taking position the company to achieve its equity free cash flow target of at least $500 million in the 2022-2024 period"
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Check out our previous features:
|Q2 - 2023||Our First Semester 2023|
|Q1 - 2023||1st anniversary of our Conectadas digital education platform|
|Q4 - 2022||Connecting the Pacific with the Atlantic Ocean|
|Q3 - 2022||Great Place to Work® Names Millicom One of the Fortune World’s Best Workplaces™|