NEW YORK and BERTRANGE, Luxembourg, Oct. 19, 2004 (PRIMEZONE) -- Millicom International Cellular:
- Record quarterly total subscriber increase for Q3 04 of 480,866 (i)**
- 51% increase in revenues for Q3 04 to $235.3m (Q3 03: $156.1m)*
- 42% increase in EBITDA for Q3 04 to $117.4m (Q3 03: $82.7m)*
- Profit for Q3 04 of $12.8m (Q3 03: loss of $13.2m)
- Earnings per common share for Q3 04 of $0.14 (Q3 03: loss of $0.20)
- Total shareholders equity as at Sept 2004 of $8.4m (Dec 2003: $ (85.2)m)
- 52% increase in revenues for the nine months to Sept 2004 to $663.6m (2003: $437.7m)*
- 47% increase in EBITDA for the nine months to Sept 2004 to $331.5m (2003: $224.8m)*
- Profit for the nine months to Sept 2004 of $42.3m (2003: $189.1 m)
- Earnings per common share for the nine months to Sept 2004 of $0.53 (2003: $2.90)
Millicom International Cellular S.A. (Nasdaq:MICC) (Stockholmsborsen and Luxembourg Stock Exchange: MIC), the global telecommunications investor, today announces results for the quarter and nine months ended September 30, 2004. Financial summary for the quarters ended September 30, 2004 and 2003*
Sept 30 Sept 30 Change
2004 2003
Worldwide
subscribers (i)
- proportional 4,737,721 3,806,646 24%
cellular (ii)
- total cellular 6,853,233 5,303,841 29%
US$ `000
Revenues 235,287 156,056 51%
Operating profit
before interest, 117,408 82,700 42%
taxes,
depreciation and
amortization,
EBITDA(iii)
EBITDA margin 50% 53%
Profit (loss) for 12,802 (13,205)
the quarter
Basic earnings 0.14 (0.20)
(loss) per common
share (US$)
Diluted earnings 0.14 (0.20)
(loss) per common
share (US$)
Weighted average 89,230 65,299
number of shares
(thousands)
Weighted average
number of shares 89,821 65,299
and dilutive
potential shares
(thousands)
(i) Subscriber figures represent the worldwide total number of
subscribers of cellular systems in which MIC has an ownership
interest. Subscriber figures exclude divested operations.
(ii) Proportional subscribers are calculated as the sum of MIC's
percentage ownership of subscribers in each operation.
(iii) EBITDA; operating profit before interest, taxation,
depreciation and amortization, is derived by deducting cost
of sales, sales and marketing costs, and general and
administrative costs from revenues.
* Due to local issues in El Salvador, MIC discontinued consolidating
El Salvador on a proportional basis from May 2001 to
September 15, 2003. Figures for 2003 exclude divested
operations and include El Salvador from September 15 to
September 30, 2003 only. Figures for 2004 include El Salvador and
exclude divested operations for subscribers and financial results,
down to and including EBITDA.
** Excluding the increase in subscriber numbers in Q3 2003 due
to the reconsolidation of El Salvador.
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