Millicom International Cellular Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue and adjusted EBITDA grew organically, with record EBITDA and $316M of Equity Free Cash Flow. FY cash flow guidance remains ~$1.1B; Colombia integration advances while network investment stays within the existing CapEx envelope.
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Record service revenue and EBITDA were achieved, driven by strong organic growth, successful integration of acquisitions, and disciplined execution. Guidance for 2026 equity free cash flow was raised to $1.1 billion, with leverage targeted below 2.5x and an additional interim dividend approved.
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Q1 2026 saw robust revenue and EBITDA growth, driven by major acquisitions and strong organic performance. Integration of new assets is progressing well, with cost savings and margin expansion supporting record equity free cash flow. Leverage remains on track to meet year-end targets.
Fiscal Year 2025
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Strong 2025 results featured robust revenue and EBITDA growth, successful integration of new markets, and margin expansion across segments. Guidance for 2026 targets at least $900 million EFCF, with leverage expected to normalize by 2027. Operational focus remains on integration, efficiency, and in-market consolidation.
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Achieved record profitability and margin expansion, driven by strong mobile and B2B growth, disciplined cost control, and successful acquisitions in Uruguay and Ecuador. On track to meet leverage and cash flow targets, while managing regulatory and legal risks.
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Strong Q2 performance with record adjusted EBITDA margin of 46.7%, $218M equity free cash flow, and major M&A milestones. 2025 guidance reaffirmed, with leverage at 2.18x and $2.5/share interim dividend approved.
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Q1 2025 saw strong customer growth, record profitability, and robust cash flow, despite FX headwinds and tough comparables. Efficiency programs and commercial momentum drove margin expansion, while M&A and capital returns impacted leverage. Guidance for 2025 remains unchanged.
Fiscal Year 2024
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Record equity-free cash flow and margin expansion drove leverage below 2.5x, enabling resumed dividends and buybacks. Mobile, Home, and B2B segments showed strong growth, though FX and legal risks remain for 2025. Guidance targets $750 million equity-free cash flow.
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Q3 2024 saw record equity free cash flow and strong customer growth, with broad-based EBITDA improvements and successful cost and CapEx optimization. Strategic transactions and a major tower deal are set to enhance returns, while leverage continues to decline.
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Q2 saw strong equity free cash flow and EBITDA growth, driven by efficiency gains and robust mobile and B2B performance. Strategic moves in Colombia and Costa Rica aim to boost scale and profitability, while deleveraging continues.