Millicom (Tigo) Q4 2024 Earnings Release:
Millicom, a leading telecommunications company with a strong presence in Latin America and Africa, has recently announced its financial results for the fourth quarter of 2024. The company’s press release, available below, provides an in-depth analysis of the company’s performance during this period.
Financial Highlights:
According to the earnings release, Millicom reported a revenue growth of 5.2% year-on-year, reaching €5.3 billion. The company’s EBITDA increased by 5.5% to €2.2 billion, while its net income attributable to Millicom increased by 13.5% to €1.1 billion. The company’s free cash flow for the quarter was €1.2 billion, up from €1.1 billion in the same period last year.
Operational Highlights:
Millicom added 1.4 million new mobile subscribers during the quarter, bringing its total to 52.5 million. The company’s fixed broadband subscriber base grew by 5.1% to 11.7 million. Millicom’s mobile data traffic increased by 46% year-on-year, driven by the growing demand for data services.
Regional Performance:
In Latin America, Millicom reported a revenue growth of 5.8% year-on-year, driven by strong performance in its markets in Colombia, Peru, and Honduras. In Africa, the company reported a revenue growth of 4.7%, with strong growth in its markets in Ghana and Rwanda.
Impact on Consumers:
Millicom’s strong financial performance is expected to lead to continued investment in network infrastructure and innovation, which could result in improved services and better value for consumers. The company has also announced plans to expand its 4G network coverage in its markets, which could lead to faster internet speeds and improved mobile experiences for its customers.
Impact on the World:
Millicom’s strong financial performance is a positive sign for the telecommunications industry, which has seen significant growth in recent years due to the increasing demand for data services. The company’s expansion in Africa and Latin America is also a positive development for these regions, as they continue to develop their telecommunications infrastructure and connect their populations to the digital world.
Conclusion:
Millicom’s Q4 2024 earnings release highlights the company’s strong financial performance and continued growth in its markets in Latin America and Africa. The company’s investment in network infrastructure and innovation is expected to lead to improved services and better value for consumers, while its expansion in developing regions is a positive development for these areas. Overall, Millicom’s performance is a positive sign for the telecommunications industry and the global economy as a whole.
- Millicom reported strong financial performance in Q4 2024, with revenue growth of 5.2% year-on-year and EBITDA growth of 5.5%.
- The company added 1.4 million new mobile subscribers and 124,000 new fixed broadband subscribers during the quarter.
- Millicom’s expansion in Latin America and Africa is a positive development for these regions, as they continue to develop their telecommunications infrastructure.
- The company’s investment in network infrastructure and innovation is expected to lead to improved services and better value for consumers.
