Millicom (Tigo) Q3 2025 Earnings Release

Millicom (Tigo) Q3 2025 Earnings Release

Luxembourg, November 6, 2025 – Millicom is pleased to announce its third quarter 2025 results. Please find below links to the Q3 2025 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements.

Q3 2025 Highlights*

• Revenue $1.42 billion

• Operating profit $390 million, and record Adjusted EBITDA $695 million

• Net profit attributable to company owners $195 million, including approximately $138 million net profit from the closure of infrastructure transactions

• Equity free cash flow $243 million

• Additional interim dividend declared in August of $2.5 per share, amounting approximately $420 million
• Leverage of 2.09x, benefiting from one-time cash proceeds of $537 million from infrastructure transactions

 

Financial highlights ($ millions)	Q3 2025	Q3 2024	Change %	Organic % Change	9M 2025	9M 2024	Change %	Organic % Change
Revenue	1,420	1,431	(0.7)%	3.0%	4,166	4,376	(4.8)%	1.1%
Operating Profit	390	300	30.1%		1,170	968	20.8%
Net Profit attributable to company owners	195	51	NM		1,064	221	NM
Non-IFRS measures (*)
Service Revenue	1,337	1,344	(0.5)%	3.5%	3,904	4,082	(4.4)%	2.0%
Adjusted EBITDA	695	585	18.7%	23.8%	1,971	1,851	6.5%	13.1%
Capex	161	166	(3.3)%		447	414	8.2%
Operating Cash Flow (OCF)	534	419	27.5%		1,524	1,437	6.0%
Equity free cash flow (EFCF)	243	271	(10.4)%		638	540	18.1%

*See page 11 for a description of non-IFRS measures and for reconciliations to the nearest equivalent IFRS measures.