RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2009 All figures presented exclude discontinued operations (Cambodia, Laos, Sri Lanka and Sierra Leone), except where otherwise stated. Historical figures have been restated to provide a comparable base, where necessary. Q3 key figures • Mobile customers up 20% versus Q3 08, bringing total customers to 31.9 million • Organic constant currency revenues up 9% versus Q3 08 • Reported revenues up 7% to $856 million (Q3 08: $800 million) • EBITDA up 13% to $392 million (Q3 08: $346 million) • EBITDA margin of 45.8% (+2.6 percentage points versus Q3 08) • Net profit* of $143 million (Q3 08: $161 million) • Basic earnings per common share* of $1.31 (Q3 08: $1.49) • Free cash flow of $108 million (Q3 08: $1 million) * Includes discontinued operations Mikael Grahne, CEO of Millicom, commented: "It has been another encouraging quarter of growth in our business. Despite the continued challenges of the economic environment, we have maintained underlying revenue growth rates close to the level of the first half. We continue to grow market share strongly, with the lower rate of customer intake reflecting the high level of voice penetration in Central America and our increasing focus on higher value customers. Demand for 3G services in Latin America is growing strongly, and we anticipate mobile broadband becoming mass market before long. ”Margins continue to be strong, reflecting excellent momentum in value-added services, a rigorous approach to cost control, and improving critical mass in Africa, where the EBITDA margin is up nearly four percentage points year-on-year. This, in turn, is making the Group increasingly cash generative. We are very confident of achieving our targets for EBITDA margin, capex and operating free cash flow for 2009. “We are progressing with our divestment program, with agreements signed for the sale of our businesses in Sierra Leone, Cambodia and Laos. Since the quarter end, we also completed the disposal of our Sri Lankan operation. This process will allow us to focus our management and financial resources on Latin America and Africa, where we continue to see very attractive long term growth opportunities. “As a result of our strong financial position, which will be further enhanced by the growing cash flow generation of our business and the proceeds from our Asian disposals, we are reviewing options for the uses of our cash. We intend to communicate the results of this review by our Q4 2009 results in February 2010. “There are no signs of economic recovery as yet in our markets. However, we are gaining market share while improving margins and cash flow. We remain very excited about the future, with penetration growth in Africa, and mobile broadband in all our markets, providing us with attractive long term growth potential. We have the proven capabilities - a strong distribution platform, market-leading innovation and first-rate operational control - to enable us to exploit these opportunities profitably.” Note: For tabular financial information and the full text of the statement, please refer to the attached PDF or the Millicom website: www.millicom.com Conference call details A conference call to discuss the results will be held at 14.00 London / 15.00 Stockholm / 09.00 New York, on Tuesday, October 20, 2009. The dial-in numbers are: +44 (0)20 7138 0825, +46 (0)8 5352 6439 or +1 212 444 0481 and the pass code is 4244528#. Please go to our website at www.millicom.com for a copy of the slides to be discussed during the call. A live audio stream of the conference call can also be accessed at www.millicom.com. Please dial in / log on 5 minutes prior to the start of the conference call to allow time for registration. A recording of the conference call will be available for 7 days after the conference call, commencing approximately 30 minutes after the live call has finished, on: +44 (0)20 7111 1244 / +46 (0)8 5051 3897 or +1 347 366 9565, access code: 4244528#. CONTACTS Francois-Xavier Roger Chief Financial Officer Telephone: +352 27 759 327 Peregrine Riviere Head of External Communications Telephone: +352 691 750 098 Emily Hunt Investor Relations Telephone: +44 (0)7879 426358 Visit our web site at http://www.millicom.com Millicom International Cellular S.A. is a global telecommunications group with mobile telephony operations in 15 countries in Asia, Latin America and Africa. It also operates cable and broadband businesses in five countries in Central America. The Group's mobile operations have a combined population under license of approximately 287 million people. This press release may contain certain “forward-looking statements” with respect to Millicom's expectations and plans, strategy, management's objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that Millicom's actual results in the future could differ materially from those anticipated in forward-looking statements depending on various important factors. Please refer to the documents that Millicom has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Millicom's most recent annual report on Form 20-F, for a discussion of certain of these factors. All forward-looking statements in this press release are based on information available to Millicom on the date hereof. All written or oral forward-looking statements attributable to Millicom International Cellular S.A., any Millicom International Cellular S.A. employees or representatives acting on Millicom's behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements.
RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2009
| Source: Millicom International Cellular S.A.