Millicom Q2 Results
Millicom released their results yesterday and they showed the clear and steady progress Millicom are making. The growth engine for earnings seems to be improvement of performance in Latin America, sale of a Pakistani TDMA network and forthcoming restructuring of the balance sheet with sale of the holding in Tele2.
The CEO didn’t comment much about the failure of the Chinese Sale apart from it cost US$5m and the company wasn’t looking at being broken up, bit by bit.
Of most interest for me is the African Operations which grew revenue to US$72.7m (52% y-o-y) and EBITDA to US$28.9m (23% y-o-y). Although Millicom does not break out performance by country: it seemed that Sierra Leone suffered which is not surprising seeing the country is just emerging from a devasting civil war. Chad and DR Congo were new network launches. Ghana and Tanzania seemed to experience high growth albeit with the flawed metric of absolute customers.
The CEO didn’t comment much about the failure of the Chinese Sale apart from it cost US$5m and the company wasn’t looking at being broken up, bit by bit.
Of most interest for me is the African Operations which grew revenue to US$72.7m (52% y-o-y) and EBITDA to US$28.9m (23% y-o-y). Although Millicom does not break out performance by country: it seemed that Sierra Leone suffered which is not surprising seeing the country is just emerging from a devasting civil war. Chad and DR Congo were new network launches. Ghana and Tanzania seemed to experience high growth albeit with the flawed metric of absolute customers.
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