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Millicom is above expectations

Millicom is above expectations

Millicom’s core EBITDA profit in the Latin American business, which is the group’s core business, was $ 638 million for the first quarter of 2021.

The average forecast of the nine analysts, compiled by Infront before the report, was $ 614 million.

Latin America sector sales amounted to $ 1,530 million. The average estimate here was $ 1,509 million.

For the entire group, Millicom, on a primary (non-IFRS) basis, reports sales of $ 1,618 million in the first quarter and an operating profit of $ 213 million. Ebitda according to this report amounts to $ 668 million.

Here, the forecasts indicated a sales volume of $ 1603 million and an operating profit of $ 216 million, according to Infront. The group’s forecast for EBITDA, other than IFRS, was 646 million.

Cash flow in line with expectations

Millicom’s operating cash flow for Latin American operations increased 10.4% to $ 471 million in the first quarter.

This aligns with the company’s goal for the full year of 2021, for this cash flow to reach at least $ 1.4 billion, according to the first quarter report.

“Our operational focus and strategic investments over the past year are paying off. After the incredibly strong first quarter, we now have more clients, higher revenue, higher EBITDA, and higher operating cash flow than we did a year ago, before The start of the epidemic, ”Millicom CEO Mauricio Ramos wrote in the report.

The company’s “strong” first quarter and the remaining divestments in Africa are giving Millicom more flexibility to resume share buybacks later in the year.

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