Millicom closes 2022 with robust free cash flow 


Millicom Chief Executive Officer Mauricio Ramos commented:

"2022 was a strong year for Millicom. Operationally, we gained or sustained mobile and fixed market share in the vast majority of our markets, and we continued to successfully execute on our strategy to accelerate growth in B2B. In Mobile, we continued to invest to modernize and upgrade our networks, and we were the first to introduce 5G service in Guatemala. In Home, we continued to expand our network to reach 822,000 new homes, and we pivoted our new build activity toward fiber-to-the-home. We now reach 12.6 million homes, of which 730,000 are already fiber.

Despite a more challenging macroeconomic and competitive environment, we achieved Equity Free Cash Flow[1] of $171 million, in line with our budget and consistent with our three-year target, thanks to robust organic OCF growth of 8.4%. These results demonstrate Millicom's ability to adapt to changing market conditions and reflect the strength of our team, our brand, and the quality of the services we provide, backed by state-of-the-art networks and infrastructure. In 2022, we also validated our science-based targets and were recognized as one of the top five employers globally in the Great Place to Work survey. I want to thank our 20,000 employees for their continued hard work and dedication. I am confident that, together, we will deliver another outstanding performance in 2023."


 [1] Excluding Africa

Connecting the Pacific with the Atlantic Ocean


Digital connectivity goes beyond just access to technology. It is a door to education, growth, and opportunity that's only bound to the imagination and provides the unparallel potential to our communities.

This is why in this instance of the quarterly updates, we want to share our latest milestone in empowering the communities where we operate and, beyond that, the world. Through Tigo Business and our operations in Tigo Paraguay, and Tigo Bolivia, we are proud to announce the deployment and commissioning of two new terrestrial routes across the Bolivia and Paraguay border, connecting these two countries directly for the first time and enabling a direct connection from the Atlantic to the Pacific Ocean. This marks a significant improvement in digital connectivity from South America to the rest of the world.

More this details of this announcement in the press release and this Infographic.

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