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Millicom reports organic service revenue up 5.9% in Q4
2016-02-10 08:23:00| Telecompaper Headlines
(Telecompaper) Millicom reported a fall in fourth-quarter results, hurt by negative currency effects and a number of one-off charges. Revenues fell 9.8 percent to USD 1.68 billion, and adjusted EBITDA was down 7.4 percent to USD 551 million. The company said organic service revenue was still up 5.9 percent year-on-year on mobile data and cable growth, and the adjusted EBITDA margin improved 0.9 percent points to 32.9 percent on efficiency measures. In Latin America, organic revenue rose 2.8 percent to USD 1.42 billion, reflecting some slowdown in Colombia and macro conditions in Paraguay. Service revenue still grew 4.4 percent. EBITDA was USD 513 million, after USD 33 million in one-off charges relating to Colombia integration costs and a bad debt charge. In Africa, organic revenue grew 13.4 percent to USD 258 million, and EBITDA was USD 17 million after USD 26 million of restructuring and one-off items. For 2016, Millicom forecast mid-single digit growth in service revenue, mid- to high-single digit growth in adjusted EBITDA and capital expenditure of USD 1.15-1.25 billion, down slightly from USD 1.28 billion last year. The forecast is based on constant currency rates and scope.
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Category:Telecommunications