Millicom moves closer to becoming a digital lifestyle provider

Millicom announced that its third quarter revenue had increased by 7.6per cent to US$1.29 billion. This would have reached 10 per cent were it not for the negative impact of regulatory measures.

Group EBITDA came in at US$459 million with an underlying margin of 38.6 per cent, in line with the company’s expectations and guidance.

The company added a further one million new data users in Q3, bringing the penetration of mobile data within the mobile customer base to over 18 per cent. In the year-to-date around 5.7 per cent of the customer base gained access to data services.

Across its mobile networks, the Millicom added close to 1.5 million net new mobile users.

Commenting on the results, Millicom’s president and CEO Hans-Holger Albrecht said: "This quarter’s strong growth highlights the continuing opportunity in Africa and Latin America. Combined with the shift to data, progress in mobile financial services and the launch of new media services almost weekly, we are on track to deliver the transformation of the company into a digital lifestyle provider."