Strong finish to a solid 2021

Millicom Chief Executive Officer Mauricio Ramos commented:

“In 2021, we accelerated our investments to meet the heightened demand for connectivity we see in our markets. The immediate impact of this investment is impressive: robust customer growth, including record 1.1 million postpaid mobile and 415,000 cable subscriber net additions, all reflecting the quality of our networks and the strength of our brand. As a result, our service revenue and EBITDA grew 6.7%, our fastest organic growth rate in years.

We continued to invest to support the growth of our cable business, which now represents 40% of our Latam service revenue and grew 9.3% in 2021, and we also deployed capital to gain scale in the Colombian mobile market, leading to a significant acceleration in customer and revenue growth during the second half of the year and positioning us for continued rapid growth and improved profitability in that market in 2022. Finally, we acquired the remaining 45% equity interest in our Guatemala operations in a highly accretive transaction.

During the past year, we made great strides toward significantly advancing our ESG agenda. On climate, we have submitted Near-Term Science-Based Targets, and we have action plans that will allow us to meet these goals. Meanwhile, we have continued to strengthen employee engagement and maintained our position as the top ranked telco in the region in the 2021 Great Place to Work survey.

With a clear sense of purpose, the passion of our Sangre Tigo, world-class governance, as well as robust networks and a thriving brand, we have built a solid foundation upon which to deliver sustainable growth and shareholder value creation in 2022 and for years to come."

Who we are

In this latest addition to our quarterly results video series, we invite you to take a look at our latest video! Watch and enjoy!

 Check out our previous features:

 Quarterly Series   Videos
 Q3 -2021  Joining forces with Fundación Real Madrid
 Q2 -2021  Behind the meaning of Sangre Tigo
 Q1 - 2021  Tigo Business teams up with AWS
 Q3 - 2020  30th anniversary