Phoenix Tower International
Thursday, October 24, 2019

Millicom revenues increased due to acquisitions in Panama and Nicaragua

The increase corresponds to the third quarter, after the incorporation of Telefónica's operations in these Central American countries. If the first nine months of 2019 are considered, the increase is 7.4% year-on-year. However, the acquisitions also affected operating profit, which fell 15% for both the quarter and the accumulated year, and net profit, to the point that the company reported a loss of US$130 million between July and September.

Millicom presented its financial results for the period July-September 2019, which show the impact of acquisitions in Central America. Revenues stood at US $1.097 billion, while the operating profit was US$178 million, affected not only by these integrations but also by the economic situation in some markets (Nicaragua, Paraguay, Bolivia and Panama). The 15% decrease in this last component caused the company to report losses of US$130 million in the period.

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