Millicom Q4 Operating Profit Rises; Revenue Up 23.7% - Quick Facts

(RTTNews) - Millicom reported that its fourth quarter operating profit increased 71.7% year-on-year to $212 million, reflecting strong revenue growth and cost control, and the impact of higher depreciation and other expenses in the fourth quarter of prior year. Revenue improved 23.7%, reflecting positive growth from most countries and business units as well as the consolidation of Guatemala since November 12, which added $220 million of revenue.

Net profit attributable to owners of the company was $643 million, or $6.41 per share, compared to a net loss of $56 million or $0.55 per share, prior year. The results included a $670 million gain on acquisition from the revaluation of the Guatemala business. Excluding this gain, net loss would have been $27 million, an improvement compared to a net loss of $56 million, last year.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.32, for the quarter. Analysts' estimates typically exclude special items.

Group revenue increased 23.7% year-on-year to $1.35 billion. Underlying revenue was $1.69 billion, for the quarter. Analysts on average had estimated $1.70 billion in revenue.