Duyuru • Apr 28
Millicom International Cellular S.A. (NasdaqGS:TIGO) acquired remaining 32.50% stake in Colombia Telecomunicaciones S. A. E.S.P. BIC (BVC:COLTEL) from Ministerio De Hacienda Y Credito Publico. Millicom International Cellular S.A. (NasdaqGS:TIGO) acquired remaining 32.5% stake in Colombia Telecomunicaciones S. A. E.S.P. BIC (BVC:COLTEL) from Ministerio De Hacienda Y Credito Publico on April 27, 2026. The acquisition represents a decisive moment for the Colombian telecommunications sector. By integrating Coltel fully into its operations, Millicom is creating a large-scale, financially viable operator with the enhanced investment capacity required to accelerate the country’s digital transformation. Millicom International Cellular S.A. now owns 100% stake in Colombia Telecomunicaciones S. A. E.S.P. BIC.
Millicom International Cellular S.A. (NasdaqGS:TIGO) completed the acquisition of remaining 32.5% stake in Colombia Telecomunicaciones S. A. E.S.P. BIC (BVC:COLTEL) from Ministerio De Hacienda Y Credito Publico on April 27, 2026. Duyuru • Aug 07
Millicom International Cellular S.A. Approves Interim Dividend, Payable on October 15, 2025 and April 15, 2026 In line with the press release published on June 13, 2025, the Board of Directors of Millicom International Cellular S.A. (Millicom) approved the interim dividend of $2.50 per share, to be paid in two equal installments of $1.25 per share on October 15, 2025 and April 15, 2026. First Installment Interim Dividend Payment: The first installment of the Interim Dividend Payment of $1.25 per share will be paid to shareholders who are registered in the U.S. with Broadridge (including DTCC) on October 8, 2025. Ex-Dividend Date: October 8, 2025. The last trading day on which shares acquired will be eligible to receive the First Installment Interim Dividend Payment will be October 7, 2025. Currency: The dividends will be paid in U.S. dollars. First Installment Interim Dividend Payment: On October 15, 2025. Second Installment Interim Dividend Payment: The Second Installment Interim Dividend Payment of $1.25 per share will be paid to shareholders who are registered in the US with Broadridge (including DTCC), on April 8, 2026. Ex-Dividend Date: April 8, 2026. The last trading day on which shares acquired will be eligible to receive the Second Installment Interim Dividend Payment will be April 7, 2026. Currency: The dividends will be paid in U.S. dollars. The Second Installment Interim Dividend Payment Date: On April 15, 2026. Duyuru • Jun 13
Millicom International Cellular S.A. Announces Special Dividend, Payable on or Around October 15, 2025 and April 15, 2026 Millicom International Cellular S.A. to approve the distribution of a special interim cash dividend of $2.50 per share, representing approximately 45% of the net proceeds of the transaction. The dividend will be distributed in two equal installments of $1.25 per share, on or around October 15, 2025 and April 15, 2026. Duyuru • May 23
Millicom International Cellular S.A. Approves Dividend Distribution, Payable on or Around July 15, 2025, October 15, 2025, January 15, 2026, and April 15, 2026 Millicom International Cellular S.A. announced that at its AGM and EGM held on May 21, 2025, the shareholders approved dividend distribution of USD 3 per share to be paid in four equal instalments on or around July 15, 2025, October 15, 2025, January 15, 2026, and April 15, 2026. Duyuru • Mar 05
Nasdaq Stockholm Approves the Delisting of Millicom's Swedish Depository Receipts and Set the Last Day of Trading on March 17, 2025 Millicom International Cellular S.A. (‘Millicom’ or the ‘Company’) formally applied for delisting of its Swedish Depository Receipts (‘SDRs’) from Nasdaq Stockholm. The delisting application was approved and Nasdaq Stockholm set the last day of trading (the ‘Delisting Effective Date’) on March 17, 2025. Millicom reminds holders of SDRs that the delisting will result in the SDR program being terminated. To remain as shareholders of Millicom, SDR holders must convert their SDRs into common shares traded in Nasdaq Stock Market in the U.S. (‘Millicom U.S. Shares’) by giving an instruction to SEB at the latest by March 19, 2025 (3.00 pm CET) (‘Final Conversion Deadline’). Following the termination of the SDR program, SEB is only able to transfer the underlying Millicom U.S. Shares to the former SDR holder if the SDR holder’s bank/broker has given SEB a complete conversion instruction before the Final Conversion Deadline. In the absence of a proper transfer/conversion instruction, SEB will sell the underlying Millicom U.S. Shares (the ‘Remaining SDRs’) and distribute the sale proceeds (in SEK) on a pro rata basis to the SDR-holders (with the deduction of reasonable costs, fees and taxes) pursuant to the SDR terms and conditions. The sale proceeds will be distributed only after all the Remaining SDRs are sold by SEB. Given restrictions in relation to the maximum amount of shares SEB is allowed to sell per day, and depending on the final amount of Remaining SDRs, it is not possible to currently say exactly how long such sales will take to complete. SEB intends to commence the sales of the Remaining SDRs as soon as practicable after the Final Conversion Deadline. Duyuru • Feb 21
Millicom International Cellular Intends to File Delisting Application with Nasdaq Stockholm on March 3, 2025 to Terminate SDR Program As previously communicated on November 29, 2024, Millicom International Cellular S.A. (‘Millicom’) on February 20, 2025 reiterated that it intends to file a delisting application with Nasdaq Stockholm on March 3, 2025, which will result in the SDR program being terminated. The last day of trading for SDRs is estimated to be on or around March 17, 2025. The exact date will be decided by Nasdaq Stockholm upon approval of the delisting application. The Company anticipates that consolidating the listing of its shares onto one single exchange, the Nasdaq Stock Market in the United States (‘Nasdaq U.S.’), will provide improved levels of liquidity to its shareholders, appropriate access to capital for Millicom, attract new investors focused on Latin America, potential inclusion on certain equity indices, a simplified corporate governance structure and a reduction in administrative costs. SDR holders who wish to remain as shareholders of Millicom must contact their financial institution in order to convert their SDRs into Millicom U.S. Shares prior to the SDR delisting. After the SDR delisting and as stipulated in the SDR program terms and conditions, the custodian bank (SEB) will sell the Millicom U.S. shares underlying any remaining SDRs, and proceeds (net of transaction costs, fees and taxes) will be distributed to SDR holders who failed to provide timely conversion instructions prior to the SDR delisting. Net cash proceeds will be distributed only after all shares have been sold. Duyuru • Jan 15
Millicom International Cellular S.A. Proposes Interim Dividend, Payable on April 2025; Proposes Dividend, Payable on July 2025, October 2025, January 2026 and April 2026 Millicom International Cellular S.A. announced that the company’s board of directors has approved a new shareholder remuneration policy under which it proposes to: resume regular cash dividends; sustain or grow cash dividends every year; and maintain a prudent capital structure, with a long-term leverage target range of 2.0-2.5x. With this policy, the board aims to return capital to shareholders from the cashflow generation of the company in a consistent and prudent manner that reflects the capital-intensive and highly-regulated nature of the business, as well as the Latin American region’s elevated political and macroeconomic volatility. Following the interim dividend of $1.00/share paid on January 10, the board intends to approve an additional interim dividend, after Millicom publishes its fourth quarter 2024 results, as follows: $0.75/share to be paid in April 2025. Furthermore, the board intends to propose for the approval of the Annual General Meeting of its shareholders to be held in Luxembourg on May 21, 2025, a dividend of $3.00 per share payable in four equal quarterly installments, as follows: $0.75/share in July 2025; $0.75/share in October 2025; $0.75/share in January 2026; $0.75/share in April 2026. Duyuru • Nov 29
Millicom International Cellular S.A. Declares Interim Dividend, Payable on or Around January 10, 2025 Millicom International Cellular S.A. Board has approved the distribution of interim dividend of $1.00 per share (or its equivalent in SEK per SDR), approximately $172 million (to be adjusted for the number of treasury shares held by Millicom at the time of the record date of the Interim Dividend), expected to be paid on or around January 10, 2025. Millicom having reached its intermediate leverage goal, the Board’s current intention is to propose to restart recurring dividends as means of shareholder remuneration, which would then be propsed to the AGM for shareholder approval. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$2.26 to US$1.94 per share. Revenue forecast steady at US$5.85b. Net income forecast to grow 197% next year vs 13% growth forecast for Wireless Telecom industry in the US. Consensus price target up from US$32.34 to US$33.09. Share price was steady at US$26.64 over the past week. Board Change • Nov 10
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. Independent Non-Executive Deputy Chairman Pernille Erenbjerg is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Oct 30
SBA Communications Corporation (NasdaqGS:SBAC) has entered into an agreement to acquire Portfolio of approximately 7,000 towers of Millicom International Cellular S.A. (NasdaqGS:TIGO) for approximately $980 million. SBA Communications Corporation (NasdaqGS:SBAC) has entered into an agreement to acquire Portfolio of approximately 7,000 towers of Millicom International Cellular S.A. (NasdaqGS:TIGO) for approximately $980 million on October 28, 2024. Total consideration will be paid of approximately $975 million, plus an earn-out contingent on achieving certain financial performance metrics. The transaction is subject to regulatory approvals and other closing conditions and is expected to close in mid-2025. Lazard, Inc. acted as financial advisor for Millicom International Cellular S.A. JPMorgan Chase & Co. acted as financial advisor for Millicom International Cellular S.A. Winston & Strawn LLP acted as legal advisor for Millicom International Cellular S.A. Goldman Sachs & Co. LLC acted as financial advisor for SBA Communications Corporation. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for SBA Communications Corporation. Duyuru • Sep 25
Millicom International Cellular S.A Announces Board Changes Millicom International Cellular S. A announced that Thomas Reynaud and Aude Durand have stepped down from their roles as members of the Millicom Board of Directors (the “Board”), with immediate effect. The Board, which will continue to be composed of eight directors, has unanimously appointed Jules Niel and Pierre-Emmanuel Durand as interim members of the Board, until the next annual general meeting of Millicom shareholders. Mr. Reynaud joined Millicom’s Board of Directors in May 2023, and Ms. Durand joined Millicom’s Board of Directors in February 2024. They announced their departure in conjunction with several changes to Millicom’s leadership and governance, as well as their increased commitments among Iliad group companies. Mr. Reynaud is the Chief Executive Officer of Iliad and the Chair of the Board of Directors of Tele2. Ms. Durand is the Deputy Chief Executive Officer of Iliad and a member of the Boards of Directors of Tele2 and Monaco Telecom. Jules Niel, born in 2000, is a French citizen who since 2023 has served as an Investment Associate at NJJ Telecom Europe, the holding company for telecom operators Eir in Ireland, Salt in Switzerland, and Monaco Telecom Group. He also oversees operations at the French media group Nice-Matin. Prior to this, he worked in the Global Advisory (M&A) division at Rothschild & Co in Paris. Pierre-Emmanuel Durand, born in 1990, is a French citizen who has served as an Investment Director at NJJ Telecom Europe and Atlas Investissement since 2018, focusing primarily on financial controlling, M&A, financing and business development activities. He was previously a Manager in the Transaction Services team at KPMG Paris, working on financial due diligence for corporate clients and private equity firms. He is also a member of the Boards of Directors of Salt Mobile, Eir, Epic Cyprus and Epic Malta. Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: US$0.46 (vs US$0.13 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.46 (up from US$0.13 loss in 2Q 2023). Revenue: US$1.46b (up 4.7% from 2Q 2023). Net income: US$78.0m (up US$100.0m from 2Q 2023). Profit margin: 5.3% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Wireless Telecom industry in the US. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Duyuru • Jul 31
Millicom International Cellular S.A. (NasdaqGS:TIGO) entered into a non-binding memorandum of understanding to acquire 67.50% stake in Colombia Telecomunicaciones S. A. E.S.P. BIC (BVC:COLTEL) from Telefónica Hispanoamérica, S.L. for approximately $400 million. Millicom International Cellular S.A. (NasdaqGS:TIGO) entered into a non-binding memorandum of understanding to acquire 67.50% stake in Colombia Telecomunicaciones S. A. E.S.P. BIC (BVC:COLTEL) from Telefónica Hispanoamérica, S.L. for approximately $400 million on July 31, 2024. In Related transaction, Millicom intends to offer to purchase La Nación’s and other minority interests in Coltel for cash at the same purchase price per share offered to Telefonica. Additionally, Millicom intends to offer to purchase Empresas Públicas de Medellin’s (EPM) 50% interest in TigoUne for cash at a comparable valuation multiple as the one implied by the Coltel acquisition. Millicom plans to fund the proposed aggregate investment of approximately $1 billion in cash and assumed debt with equity free cash flow projected over the next 18 months, consistent with the company’s long-range plan. The transaction remains subject to negotiation and signature of definitive agreements with all parties involved, including Telefonica, La Nación and EPM, as well as receipt of regulatory and antitrust approvals and satisfaction of other closing conditions. There is no certainty the transaction will ultimately be consummated. Major Estimate Revision • May 30
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$1.73 to US$2.00. Revenue forecast steady at US$5.88b. Net income forecast to grow 11,277% next year vs 24% growth forecast for Wireless Telecom industry in the US. Consensus price target of US$27.25 unchanged from last update. Share price rose 4.5% to US$24.81 over the past week. Major Estimate Revision • May 28
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$1.73 to US$2.00. Revenue forecast steady at US$5.88b. Net income forecast to grow 11,277% next year vs 21% growth forecast for Wireless Telecom industry in the US. Consensus price target of US$27.25 unchanged from last update. Share price rose 2.8% to US$24.65 over the past week. Duyuru • May 24
Millicom International Cellular S.A. Approves Board Elections Millicom International Cellular S.A. announced that at its AGM held on May 23, 2024, the shareholders elected Justine Dimovic and Maxime Lombardini as a new directors. Experience: Ms. Dimovic has a wealth of experience in the finance industry, holding various leadership positions. Currently, she serves as the SVP Corporate Finance & Group Treasurer at L'Oréal, which she joined in 2020. Prior to this, she was the Senior Vice President of Treasury, Financing and Investor Relations, Group Treasurer at IDEMIA, and the VP of Corporate Finance & Group Treasurer at Millicom. Justine has also held roles such as Vice President of Finance, Group Treasurer, Head of Investor Relations and VP Equity Research. She began her career as an Equity Research Analyst covering the Telecom sector at Exane BNP Paribas. Skills: Ms. Dimovic brings a diverse set of financial and investment management skills including treasury management, financing, investor relations, and equity research. Education: Ms. Dimovic holds a master’s degree in Project Management, International Business Negotiation and Banking from the Ecole Nationale Superieure des Mines de Nancy and a postgraduate degree in Banking and Corporate Finance from EM Lyon Business School. Experience: Mr. Lombardini was appointed as President and Chief Operating Officer (COO) in September 2023. Mr. Lombardini joined the Iliad Group, one of the major players in the European telecoms sector, in 2007, as Chief Executive Officer and continued his tenure through 2018. In May of 2018, he assumed the role of Chairman of Iliad’s Board of Directors until March 2020. Since then, he has served as the Vice-Chairman of the Board of Directors. Prior to joining Iliad, he has been CEO of TF1 Production, one of the leading French commercial television networks. While in this post he restructured and energized the group's six subsidiaries. From 1999 to 2003, he was head of business development at TF1, a position in which he studied and implemented the group's growth operations. From 1996 to 1999, he was the company secretary of TPS (a subsidiary of TF1 and M6), a position in which he took part in launching a digital satellite package. Skills: Mr. Lombardini brings decades of experience in the telecommunications, media and entertainment sectors, both in leading and managing in operational roles, as well as oversight and governance in Board positions. Education: Mr. Lombardini is a graduate of the Sciences Po Paris and holder of a master’s degree in business and tax law from the University of Paris II. Price Target Changed • May 09
Price target increased by 8.0% to US$25.05 Up from US$23.19, the current price target is an average from 7 analysts. New target price is 9.9% above last closing price of US$22.80. Stock is up 25% over the past year. The company is forecast to post earnings per share of US$1.69 next year compared to a net loss per share of US$0.50 last year. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: US$0.54 (vs US$0.018 in 1Q 2023) First quarter 2024 results: EPS: US$0.54 (up from US$0.018 in 1Q 2023). Revenue: US$1.49b (up 8.6% from 1Q 2023). Net income: US$92.0m (up US$89.0m from 1Q 2023). Profit margin: 6.2% (up from 0.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Wireless Telecom industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 20% per year. Duyuru • Apr 28
Millicom International Cellular S.A. to Report Q1, 2024 Results on May 08, 2024 Millicom International Cellular S.A. announced that they will report Q1, 2024 results on May 08, 2024 Duyuru • Apr 27
Millicom Announces the Appointment of Marcelo Benitez as CEO, Effective June 1, 2024 Millicom announced that its Board of Directors has appointed Marcelo Benitez as CEO of Millicom, effective June 1, 2024. Benitez has had a distinguished career with Millicom, having joined the company in Paraguay nearly 30 years ago and risen through the Company’s ranks to his most recent role as CEO of TIGO Panama. Prior to this, Benitez held the position of Vice President for the Central America Region, where he oversaw the Company’s operations across Honduras, El Salvador, Costa Rica, Nicaragua, and Panama. His career with TIGO has also included roles as CEO of TIGO El Salvador and CEO of Tigo Business (TIGO’s B2B operation), among others. Benitez holds an MBA from Pontificia Universidad Católica de Chile, a BBA from Pacific University, and a leadership program at Stanford University. As planned in the transition process, and subject to shareholder approval at the AGM currently scheduled for May 23, 2024, Mauricio Ramos will continue as Chair of the Board of Directors of Millicom. In addition, Ramos will continue to perform key executive roles, overseeing external stakeholder relations, including government relations, joint venture partners, M&A, and legal, governance and regulatory matters. Duyuru • Mar 23
Millicom International Cellular S.A. Announces Chief Financial Officer Changes Millicom International Cellular S.A. announced that Sheldon Bruha will be stepping down from the role of Chief Financial Officer (CFO), effective on April 15th, as part of a planned succession process. Sheldon will be succeeded as CFO by Bart Vanhaeren, currently VP Corporate Finance at Millicom. Sheldon will continue to serve as an advisor to Millicom through June 30, 2024 to ensure a continued smooth and organized transition. Sheldon joined the Company as CFO at the beginning of 2022 and, among other key successfully executed initiatives, has played an instrumental role in driving Project Everest, the Company’s cost-efficiency program that is expected to achieve more than $250 million of savings. He has also helped develop financial talent within the company, enabling the appointment of Bart. Sheldon will pursue other professional opportunities upon the end of the transition period. Bart is a fourteen-year veteran of Millicom, having held several senior financial and management leadership roles during that time. Most recently, he has overseen Corporate Finance, which encompasses the Company’s Treasury, Tax, Mergers & Acquisitions and Corporate Administration activities. Prior to Millicom, Bart distinguished himself through a series of leadership roles across global organizations such as Strategy and Corporate Development Manager for EMEA at 3M, Senior Consultant at Deloitte and Senior Auditor at PriceWaterhouseCoopers. Price Target Changed • Mar 04
Price target increased by 7.7% to US$23.06 Up from US$21.41, the current price target is an average from 7 analysts. New target price is 26% above last closing price of US$18.33. Stock is down 4.7% over the past year. The company is forecast to post earnings per share of US$1.81 next year compared to a net loss per share of US$0.50 last year. Buy Or Sell Opportunity • Feb 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.3% to US$18.65. The fair value is estimated to be US$15.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Feb 27
Millicom Appoints Aude Durand to its Board of Directors Millicom announced the appointment of Aude Durand to its Board of Directors, effective on February 26, 2024. In accordance with Millicom’s Articles of Association, Millicom’s Board of Directors, with the approval of Millicom’s Nomination Committee, has appointed Ms. Durand to fill the vacant Board position created by the tragic passing of Nicolas Jaeger until the company’s next Annual General Meeting of shareholders. Aude Durand has strong experience in the telecommunications industry. She currently serves as Deputy CEO at iliad Holding, where she is involved in key projects across iliad’s telecom operators in France, Italy, and Poland, spanning various departments such as marketing, customer care, IT, and network operations. She also oversees iliad’s AI endeavours, including the creation of Kyutai, a world-class open-science AI lab. In addition to her role at iliad Holding, Ms. Durand holds positions as Chairman of Scaleway (leading European cloud provider, owned by iliad) and Board Member of Monaco Telecom. She also serves as the Chair of Millicom’s Nomination Committee. Prior to joining iliad, Ms. Durand served as Chief of Staff to the CEO of Orange Wholesale & International Networks and held various roles within Orange’s B2B division. She also spent a few months as a Visiting Associate at The Boston Consulting Group. She holds a Master of Science (MSc) in Management Science & Engineering from Stanford University (USA) and an Engineering Degree from Ecole Polytechnique (France). Duyuru • Feb 21
Millicom Launches XGS-PON Fiber-To-The-Home Harmonic announced that Millicom has successfully launched XGS-PON fiber-to-the-home (FTTH) with Harmonic's industry-leading cOS broadband platform. This expands on Millicom's previously announced use of the cOS platform to provide high-speed broadband services across nine countries in Latin America. Harmonic's Ripple hybrid fiber-cable nodes, powered by the Jetty hardened switch and Fin SFP+ OLT modules, enable Millicom to augment existing nodes to strategically and quickly deploy FTTH while continuing to deliver DOCSIS services. Advanced telemetry via cOS Central's real-time network analytics provides Millicom powerful new insights and actionable recommendations for optimal system performance. Reported Earnings • Oct 28
Third quarter 2023 earnings released: US$0.014 loss per share (vs US$0.20 loss in 3Q 2022) Third quarter 2023 results: US$0.014 loss per share (improved from US$0.20 loss in 3Q 2022). Revenue: US$1.42b (up 2.6% from 3Q 2022). Net loss: US$4.00m (loss narrowed 88% from 3Q 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Wireless Telecom industry in the US. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Duyuru • Oct 25
Millicom International Cellular S.A. Announces the Nomination Committee Ahead of the 2024 Annual General Meeting In accordance with the resolution of the 2023 annual general meeting of Millicom International Cellular S.A. (“Millicom”) held on May 31, 2023, the Nomination Committee has been formed in consultation with the largest shareholders of Millicom as of the last business day of June 2023. The Nomination Committee comprises representatives of three shareholders that represent the largest shareholders in Millicom that have chosen to appoint members, as well as the Chair of the Board of Directors of the Company; Aude Durand appointed by Atlas Luxco S.àr.l.; Jan Dworsky, appointed by Swedbank Robur Funds; and Staley Cates, appointed by Southeastern Asset Management, and the Interim Chairman of Millicom’s Board of Directors, Mauricio Ramos. Major Estimate Revision • Oct 22
Consensus EPS estimates increase by 26% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from US$0.497 to US$0.626. Revenue forecast steady at US$5.67b. Net income forecast to grow 3,476% next year vs 60% growth forecast for Wireless Telecom industry in the US. Consensus price target down from US$19.93 to US$19.43. Share price was steady at US$15.00 over the past week. Price Target Changed • Oct 20
Price target decreased by 7.2% to US$19.43 Down from US$20.94, the current price target is an average from 6 analysts. New target price is 30% above last closing price of US$15.00. Stock is up 36% over the past year. The company is forecast to post earnings per share of US$0.63 for next year compared to US$0.46 last year. Major Estimate Revision • Oct 05
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from US$0.553 to US$0.497 per share. Revenue forecast steady at US$5.64b. Net income forecast to grow 3,534% next year vs 61% growth forecast for Wireless Telecom industry in the US. Consensus price target of US$19.93 unchanged from last update. Share price fell 3.1% to US$14.93 over the past week. Major Estimate Revision • Sep 15
Consensus EPS estimates increase by 23% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from US$0.449 to US$0.553. Revenue forecast steady at US$5.64b. Net income forecast to grow 3,407% next year vs 62% growth forecast for Wireless Telecom industry in the US. Consensus price target down from US$20.94 to US$19.93. Share price rose 4.3% to US$16.08 over the past week. Price Target Changed • Sep 13
Price target decreased by 8.0% to US$19.93 Down from US$21.67, the current price target is an average from 6 analysts. New target price is 24% above last closing price of US$16.06. Stock is up 26% over the past year. The company is forecast to post earnings per share of US$0.55 for next year compared to US$0.46 last year. Reported Earnings • Jul 27
Second quarter 2023 earnings released: US$0.13 loss per share (vs US$0.11 profit in 2Q 2022) Second quarter 2023 results: US$0.13 loss per share (down from US$0.11 profit in 2Q 2022). Revenue: US$1.39b (down 3.7% from 2Q 2022). Net loss: US$22.0m (down 283% from profit in 2Q 2022). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Wireless Telecom industry in the US. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Duyuru • Jun 29
Millicom International Cellular S.A. (NasdaqGS:TIGO) acquired 2.6 GHz spectrum in Guatemala. Millicom International Cellular S.A. (NasdaqGS:TIGO) acquired 2.6 GHz spectrum in Guatemala in early June, 2023.Millicom International Cellular S.A. (NasdaqGS:TIGO) completed the acquisition of 2.6 GHz spectrum in Guatemala in early June, 2023. Board Change • Jun 12
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non-Executive Director Tomas Eliasson was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • Jun 01
Millicom International Cellular S.A. Approves the Election of Directors Millicom International Cellular S.A. held its Annual General Meeting ("AGM") and Extraordinary General Meeting ("EGM") of shareholders on May 31, 2023. The company elected María Teresa Arnal, Blanca Treviño de Vega, Thomas Reynaud, Nicolas Jaeger and Michaël Golan as new Non-Executive Directors. Reported Earnings • Apr 29
First quarter 2023 earnings released First quarter 2023 results: Revenue: US$1.37b (down 2.8% from 1Q 2022). Net income: US$3.00m (down 89% from 1Q 2022). Profit margin: 0.2% (down from 2.0% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Wireless Telecom industry in the US. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 13
Price target increased by 7.7% to US$23.33 Up from US$21.67, the current price target is an average from 6 analysts. New target price is 27% above last closing price of US$18.32. Stock is down 23% over the past year. The company is forecast to post earnings per share of US$1.20 for next year compared to US$0.46 last year. Major Estimate Revision • Feb 26
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from US$1.06 to US$1.20. Revenue forecast steady at US$5.70b. Net income forecast to grow 189% next year vs 189% growth forecast for Wireless Telecom industry in the US. Consensus price target of US$22.83 unchanged from last update. Share price fell 2.5% to US$19.15 over the past week. 
