Strong finish to 2017, accelerating into 2018
CEO Mauricio Ramos "Growth returned to our Latam markets during the second half of 2017, thanks largely to our strategic focus on building digital highways and accelerating the transition from legacy voice and SMS to high-speed data services, both in mobile and fixed. In Latam, our mobile business is growing again, and it is encouraging to see Q4 growth of more than 3% in Paraguay and Bolivia, countries where the transition from voice to data is more advanced. Meanwhile, the investments we are making in our HFC networks are driving steady mid-to-high single-digit growth in Home and B2B, and we see a large opportunity for Millicom in these areas. In Africa, we delivered on our commitment to generate positive free cash flow from the region in 2017. We also disposed of our operation in Rwanda, and we completed a merger in Ghana, consistent with our strategy to focus on the Latam region. Over the last several months, we also monetized tower portfolios in Paraguay, Colombia and El Salvador, and we reduced our stake in BIMA. As a result of these transactions and of our organic cash flow growth, we reduced our leverage and improved our return on capital in 2017. We enter 2018 with positive momentum in our largest markets and with the financial strength to support our long-term growth plans and create shareholder value. I expect that 2018 will be an even better and more exciting year for Millicom. (See Q4 Earnings Release)
Building the digital highways
Millicom is a leading provider of cable and mobile services dedicated to emerging markets in Latin America and Africa. Each quarter we like to take you behind the scenes, and show you the work being done in these fascinating and diverse markets.
In 2017, our B2C Home unit in Latin America (broadband Internet, Pay TV and fixed voice services) reported its fastest network growth to date. We closed the year with 9.1 million Homes Passed; including 8.4 million homes in our high-speed HFC footprint.
We see plenty of opportunity ahead in 2018. Find out more. Hit play.
Latam Cable - Feb 2018