Quarterly ResultMay 12, 2026, 06:02 AM
Millicom Q1 Revenue $2B, up 45.1%; Strengthens Colombia Position via Acquisitions
AI Summary
Millicom reported Q1 2026 revenue of $1.985 billion, a 45.1% increase year-on-year (4.2% organically), and Adjusted EBITDA of $857 million, up 35.5% (9.6% organically). Net profit attributable to company owners, however, decreased by 43.4% to $109 million. The company significantly strengthened its position in Colombia through the acquisition of EPM's 50% stake in Tigo UNE and Telefónica's majority stake in Coltel, with the remaining Coltel stake acquired post-quarter. Millicom also announced 2026 targets, including EFCF of at least $900 million and year-end leverage around 2.5x, despite incurring severance costs from voluntary retirement plans in Colombia and Chile.
Key Highlights
- Millicom strengthened its position in Colombia by acquiring EPM's 50% stake in Tigo UNE and Telefónica's majority stake in Coltel.
- Post-quarter, Millicom acquired the remaining 32.5% equity stake in Coltel from La Nación.
- Q1 2026 Revenue reached $1.985 billion, a 45.1% increase year-on-year (4.2% organically).
- Adjusted EBITDA was $857 million, up 35.5% year-on-year (9.6% organically).
- Net profit attributable to company owners was $109 million, down 43.4% year-on-year.
- Equity free cash flow (EFCF) increased 66.5% year-on-year to $225 million, excluding disposals.
- Company targets 2026 EFCF of at least $900 million and year-end leverage around 2.5x.
- Tigo Central America sold local sports content and rights to FOX Latin America.