EBITDA improved 2.1 percent from a year earlier and was up 7.2 percent on an organic basis, to USD 560 million, and the margin rose to 34.1 percent from 32.8 a year ago. Adjusted EPS was down 78 percent to USD 0.17 due to forex losses.
Millicom, which operates under the brand Tigo, also announced that it passed the milestone of 60 million mobile customers in the quarter, to reach a total 60.15 million at the end of September, an increase of 11.8 percent year-on-year. Of the total, 29 percent were using data services at the end of the period. Cable RGUs rose by 83,000 in the quarter, excluding a clean-up of 72,000 in Colombia, for a total 5.25 million at the end of September. The number of homes passed also rose by 243,000 to 7.5 million. The number of mobile money customers rose by 546,000 in Q3 to 10.7 million, up 34 percent from a year earlier.
Millicom said its markets experienced turbulent conditions in Q3 and it expects this to continue in Q4, not only due to currency effects but also reduced economic perspectives for several countries. It will focus on cash flow generation and protecting margins and expects to meet its annual EBITDA target of USD 2.12-2.26 billion given in July. Capital expenditure is expected to be at the low end of the earlier forecast of USD 1.25-1.35 billion, after spending USD 824 million in the first nine months.
