Our purpose in action

• Q1 20 CEO Letter
• Q1 20 Earnings Release
• Q1 20 IAS 34
• Q1 20 Presentation
• Q1 20 Financial and Operational Data
• Q1 20 Non-IFRS Measures
• Q1 20 Infographic
• Q1 20 Webcast 

 

Millicom Chief Executive Officer Mauricio Ramos commented:

"As we face unprecedented challenges associated with the COVID-19 pandemic, our purpose is more important than ever: we build digital highways that connect people, improve lives, and support our communities. Our customers and communities rely on us to keep them connected. I am proud to report that we have risen to the challenge thanks to the effectiveness of our business continuity plans, the resilience of networks, and the strength and determination of our
people. Our engineers have been working around the clock to ensure that our services continue uninterrupted as traffic surges; we are supporting the governments in our countries with technology and tools to keep their people informed
in their efforts to contain the virus. You can get more details on our response to the pandemic in the attached CEO letter.

In light of the severe impact that COVID-19 is having on the global economy and in many of our markets, we have already implemented significant measures to help us navigate through these challenging times, which we anticipate will impact our revenue at least through the remainder of 2020. These measures include a reduction in CAPEX made possible by focusing largely on adding network capacity while deferring other investment plans and the implementation of new cost savings initiatives. Our goal with these measures is to sustain healthy cash flow generation throughout this period. Moreover, as we prioritize client service, employee health and safety and the preservation of our financial strength and liquidity, we have also decided to suspend all share repurchases for the foreseeable future, and our Board has decided not to recommend the payment of a dividend in 2020. In aggregate, we expect these actions will enhance our 2020 cash flow by more than $550 million and position us to resume the execution of our plans once the pandemic passes."

Spotlight on our markets - Stay home #QuédateEnCasa

In this latest addition to our quarterly results video series, we invite you to take a closer look at our Latin America Tigo operations who have been working on different creative initiatives to stress the importance of staying at home and practicing social distancing during the COVID-19 pandemic. We have the TIGO men and women, engineers, and technicians to thank for our connectivity in this pivotal moment in time. Their work is essential during this crisis and we must ensure that they are able to conduct it safely which is why TIGO has enacted all sanitary and hygiene measures possible to protect our workforce.

Different social media campaigns across our operations use the hashtag #QuedateEnCasa (#StayHome) or #EnCasaConTigo sharing tips to stay productive while working from home as well as sharing activities to help families engage and bond during this time. We are in this together. As colleagues, friends, and loved ones.

The connection among us is always important. Connectivity in a time of uncertainty is crucial and essential to our societies. TIGO is dedicated and committed to all our communities and to bring them digitally closer even as we are apart. Through connection, we can bring hope!

Excerpt from "Working as ONE to keep our communities informed and connected" blog by VP Chief External Affairs Officer, Rachel Samrén

We invite you to be part of our efforts by watching the video. Enjoy!

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