NEW YORK-Millicom International Cellular reported its proportional worldwide cellular subscribers for the first quarter to be up 63 percent from last year, totaling 2.34 million. Revenue was up 34 percent to $169,794, as opposed to last year’s $126,499. Operating profit before depreciation and amortization, EBITDA, was up 31 percent to $68,083.
On the other hand, MIC reported its operating profit before financing and taxes decreased to $21,237 compared with the year-ago quarter’s $48,665. And the company’s loss for the period increased from just $447 to $198,282, or from 1 cent per common share to $4.06 per common share.
“MIC has started the year strongly … continuing to consolidate its market leadership across its emerging market licenses,” commented Marc Beuls, the company’s president and chief executive officer. “We are confident that we can continue to grow at this rate, with high margins, as emerging market penetration rates are still relatively low and our brand awareness is strong and increasing.”
