Millicom presented its balance sheet for 1Q 2016 with results affected by exchange rate volatility in Latin America

 

Multinational telecommunications company Millicom presented its balance sheet for the first quarter of 2016 in which it reported Pay-TV revenues in Latin America for USD 370 million. This represents an increase of 11% annually in local currency but a drop of 6.7% after its international adjustment due to the sharp depreciation of the Colombian peso, mostly.

 

On the other hand, it reached 5,424,000 Pay-TV accesses for its Tigo Star brand (HFC and DTH) in the region, i.e., an increase of 4.7% compared to the same period of 2015, with 132,000 new passed Cable TV households in the quarter.

 

According to the report presented by the company, its total revenues in Latin America were of USD 1,31 million (+0.7% in local currency, -10.4% in USD), with an EBITDA of USD 525 million and a USD 2,380 million net debt.

 

Without giving exact figures, the company reported that Cable TV sales in Colombia grew 8.2% and 89,000 new homes were added. In Guatemala, HFC revenues rose 48.8%. In Paraguay, 19.1%; in Honduras, 14.8%; in Bolivia, 33%; and in El Salvador, 6.5%.

 

Millicom did not present details of their DTH services in Costa Rica, Bolivia, Honduras, El Salvador and Guatemala but anticipated its Satellite TV offer is ready to be launched in Colombia, where they operate a joint-venture with EPM through the Tigo-UNE brand.