Millicom delivers digital strategy as transformation continues

Stockholm, 11 February, 2014 – Millicom, the leading international telecommunications and media company (Stockholmsbörsen: MIC), announced today that its revenue had increased by over 7% to exceed $5bn  in  2013 as the company topped 50 million customers for the first time.

In its fourth quarter 2013 results announcement today, other highlights include:

• Millicom returned to strong organic growth in the 4th quarter with 8.4% year on year growth excluding Online
• Africa shows the first positive signs of growth with revenue rising 9% in the quarter in local currency
• Cable grows by 10% as we continue to invest in entertainment services such as “Tigo Sports”
• MFS now has over six million customers with penetration approaching 16% of the customer base
• The transformation to a Digital Lifestyle company moves ahead, as demonstrated by the success of our recent partnership with Facebook and Tigo Music and
• A solid financial performance: 7.3% local currency revenue growth in 2013, 39.2% EBITDA margin (excluding Online and one-offs) in line with guidance.

The company also published details of its progress in delivering growth across four strategic pillars announced last year:

• In Q4, our mobile data business went from strength to strength, adding on average 100,000 new mobile data customers every week, improving penetration of mobile data within our mobile customer base to 20.2%, up over 50% from December 2012
• In Cable & Digital Media, we continued to show solid growth as we prepare for the February 2014 launch of “Tigo Star” and “Tigo Sports”, our new cable and broadband service and TV channels
• MFS penetration growth accelerated in the fourth quarter reaching 15.8% of our customers in the markets in which we offer the service. In Q4 we added 50% more new customers than on average over the first nine months of the year. This month we will launch the world’s first MFS service with currency conversion in Africa and
• In Online we continued to actively roll out our most successful concepts across Africa and Latin America and entered into a landmark agreement with MTN and Rocket Internet to accelerate development of our Online businesses in Africa.

Commenting on the results, Millicom’s President and CEO Hans-Holger Albrecht said:

“Millicom’s growth story continues.  Adding almost 1.7 million mobile customers to exceed 50 million customers for the first time is one of many significant milestones this quarter.  Adding 100,000 data users a week and gaining 500,000 customers in six months in the recently troubled Kivu region in DRC are examples of our determination and spirit. By the end of this year we will be offering a full range of digital services in all Tigo mobile markets in Latin America.  This gives us a head start in the bundling business and is a big step in the execution of our strategy to drive forward the Digital Lifestyle.

Our planned investments are on track as we upgrade our services and keep innovating to maintain a strong competitive edge. In 2014, we will continue to focus on rigorous financial discipline, operating efficiency and providing our customers with the Digital Lifestyle. Our ambition is to execute further our transformation in 2014.”

For more, please visit www.millicom.com or contact:

Press Enquiries:
Julian Eccles, VP, Corporate Communications
+ 44 7720 409374
press@millicom.com

Investor Enquiries:
Justine Dimovic, Director, Head of Investor Relations
+ 352 27 759479
investors@millicom.com

About Millicom

Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing digital lifestyle services to the world’s emerging markets, giving access to the world, primarily through mobile devices. Operating in 15 countries, Millicom offers innovative and customer-centric products. Millicom employs more than 10,000 people and provides mobile, cable, broadband, TV content, online and financial services to over 50 million customers. Founded in 1990, Millicom is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2013 Millicom generated revenue of $5.16 billion and EBITDA of $1.9 billion.

This press release contains “forward-looking statements”, which are statements that are not historical facts, including statements concerning the parties' ability to complete the proposed transaction; the anticipated timing of the proposed transaction; the expected benefits and costs of the proposed transaction; management plans relating to the proposed transaction;  any statements of operations, including the execution of integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing.  Any statement in this announcement that expresses or implies any party's intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement.  Forward-looking statements involve inherent risks, uncertainties and assumptions which could cause actual results to differ materially from those expressed or implied by such forward-looking statements and assumptions. The forward-looking statements contained in this announcement are made as of the date hereof, and each party expressly disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this announcement.  This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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