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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Millicom revenues increased due to acquisitions in Panama and Nicaragua

MORE ANALYSIS

América Móvil increased profit by 9.2% in the second quarter

The increase was the result of higher revenue (+3.1%) and EBITDA growth of 3.8%. Exchange rate stability and the expansion of its subscriber base contributed to the performance. At the end of June, the company had accumulated 414.5 million access lines across all types of services.

Panama bets on a third mobile operator

ASEP has begun the process to auction 40 MHz of mid-band spectrum. Analysts are divided: some argue that the entry of a third operator will improve competition and reduce prices, while others say it could jeopardize the economic and financial stability of telecommunications service providers.

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A total of 84 operators now offer network slicing. Services based on differentiated connectivity have moved beyond the early adoption phase and into widespread commercialization.

Operators maintain profits with limited investment and cost controls

That is according to a report by analyst firm MTN Consulting, which estimated EBIT margins at 15.7% in the fourth quarter of 2025.

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Ronald Spina is General Manager of the National Telecommunications Corporation (Corporación Nacional de Telecomunicaciones, CNT). He said the state-owned Ecuadorian operator’s turnaround was achieved while improving its EBITDA margin and accelerating the rollout of FTTH and 5G.

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