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Millicom confirms target for USD 9 bln in revenue in 2017

2014-09-25 09:03:00| Telecompaper Headlines

(Telecompaper) Millicom has confirmed a target of over USD 9 billion in revenue in 2017, compared to USD 5.2 billion in 2013. driven by recent acquisitions and expansion in the cable TV and online segments. At its Capital Markets Day, the company highlighted its current 9 percent annual growth in revenues (in local currency), with its mobile business advancing 6 percent, cable rising by 16 percent and mobile financial services up 41 percent. The recently completed takeover of UNE in Colombia will also contribute to growth. In 2014 Millicom expects the contribution from UNE to reach USD 550 million of revenues, around USD 120 million in EBITDA (before integration costs) and capex of USD 120 million. Millicom confirmed its initial estimate of synergies of USD 600 million (including integration costs) from the takeover. More details on synergies will be announced early next year following the completion of the integration planning phase. Having completed the UNE deal, the company said it now plans a period of focusing on debt deleveraging.   

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