2017-02-08

(Telecompaper) Millicom reported a drop in fourth-quarter revenues, hurt by weakness in its biggest market Colombia and El Salvador, while EBITDA increased thanks to improved profitability in Africa. Revenues fell 2.6 percent to USD 1.594 billion, and service revenue was down 0.9 percent on an organic basis. Adjusted EBITDA rose 3.1 percent to USD 566 million, helping the margin improve to 35.5 percent from 33.6 a year ago. Over the full year, Millicom was at the low end of its outlook with organic service revenue growth of 1.2 percent and organic growth in adjusted EBITDA of 4.3 percent. For 2017, Millicom again forecast organic service revenue growth in the low single-digit range, but better than the growth rate in 2016

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