millicom intl cellular s.a. (MIICF) Key Developments
Millicom Issues $500 Million US Dollar Denominated Bonds
Mar 11 15
Millicom announced that it has issued a $500 million US Dollar- denominated bond. The company has completed the issuance of a 10-year $500 million bond with a fixed coupon of 6.00%. The issuance was done at par. The bond will be listed in Luxembourg. The company intends to use the proceeds to redeem the remaining portion of the 8.00% Senior Notes issued by its subsidiary Telemovil Finance Co Ltd. in 2010, to fund capex and for general corporate purposes.
Mauricio Ramos Appoints Mauricio Ramos as Chief Executive Officer with Effect from April 1, 2015
Mar 3 15
Millicom announced that its Board has decided unanimously to appoint Mauricio Ramos as its new Chief Executive Officer with effect from 1 April 2015. Mauricio was most recently President of Liberty Global's Latin American Division, a position he held from 2006 until February 2015.
Millicom Joins GSMAs Mobile Health Partnership in Africa
Feb 27 15
Millicom announced that it has joined the GSMAs cross-ecosystem Pan-African mHealth initiative (PAMI) which is designed to connect people with the mobile industry and health services in eleven countries in Sub-Saharan Africa, including the Tigo operations in Ghana, Rwanda and Tanzania. PAMI aims to develop commercially sustainable and scalable mHealth services that meet public health needs. The primary objective is to offer relevant services to women and children, with a particular focus on nutrition. Millicom will work closely with the GSMA and other partners in the initiative to provide mobile access to affordable and reliable healthcare information for its customers.
Millicom International Cellular S.A Signs Agreement with Vodacom's M-Pesa Service
Feb 26 15
Millicom International Cellular S. A announced on February 25, 2015 that it has signed an agreement with Vodacom's M-Pesa service, enabling the company's Tigo Pesa mobile money service users for the first time to be able to exchange money with M-Pesa customers in Tanzania, Africa, later 2015. The company said this agreement makes the customers of Tigo Pesa service in Tanzania the first in Africa to be able to transact with users of all their country's mobile money networks. Tigo Pesa customers will now have Africa's first universal mobile money exchange system and will be able to safely and securely transact with millions more people across the country.
Millicom International Cellular SA Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2015
Feb 3 15
Millicom International Cellular SA announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company announced revenue of $1,860 million compared to $1,464 million for the same period a year ago. EBITDA was $588 million compared to $500 million for the same period a year ago. Adjusted EPS was $0.41 compared to $1.04 for the same period a year ago. Operating profit was $225 million compared to $222 million a year ago. Profit before tax was $150 million compared to $119 million a year ago. Net profit for the attributable to owners of the company for the period was $48 million compared to $55 million a year ago. Profit for the period was $62 million compared to $114 million a year ago. Negative free cash flow was $49 million compared to free cash flow of $93 million a year ago. Diluted earnings per common share for profit attributable to the owners of the company were $0.48 compared to 0.56 per share a year ago. The group's operating cash flow was just over $190 million.
For the full year, the company announced revenue of $6,386 million compared to $5,553 million for the same period a year ago. EBITDA was $2,093 million compared to $1,999 million for the same period a year ago. Adjusted EPS was $1.82 compared to $3.61 for the same period a year ago. Capital expenditure was $1,294 million. Net debt at the end of the period was $4.0 billion. Operating profit was $924 million compared to $1,044 million a year ago. Profit before tax was $3,036 million compared to $648 million a year ago. Net profit for the year attributable to owners of the company was $2,643 million compared to $229 million a year ago. Profit for the year was $2,780 million compared to $441 million a year ago. Free cash flow was $169 million compared to $130 million a year ago. Diluted earnings per common share for profit attributable to the owners of the company were $26.43 compared to 2.30 per share a year ago. Net debt landed at just over $4 billion.
The company provided earnings guidance for the full year of fiscal 2015. The company expects to increase revenue in 2015 to between $7.1 billion and $7.5 billion, which will generate an EBITDA of between $2.20 billion and $2.35 billion. Capital expenditure expected to be between $1.25 billion and $1.35 billion.