MILLICOM INTERNATIONAL CELLULAR SA
For the period ended May 8, 2025. Filed May 8, 2025.
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May 8, 2025 · Filed May 8, 2025
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Contents
Key Performance Indicators
The mobile business ended Q1 with 41.6 million customers, up 2.3% year-on-year and reflecting net additions of 89,000 during the period. Postpaid continued to perform exceptionally well, with net additions of 262,000. Mobile ARPU declined 5.2% year-on-year due to weaker foreign exchange rates, as a majority of countries experienced positive ARPU growth in local currency terms.
1 Or swapped for local currency
2 Or swapped for fixed rates* *
3 Including SEK denominated bonds that have been swapped into US dollars.
Earnings ReleaseQ1 2025
At the end of Q1 2025, Millicom fixed networks passed 13.6 million homes, an increase of 13,000. HFC and FTTH customer relationships increased 62,000 in Q1, marking a fourth consecutive quarter of positive net additions. However, revenue generating units declined again in Q1 reflecting our commercial strategy to fill under-utilized nodes and to emphasize fixed-mobile convergence, in lieu of fixed telephony services.
| Key Performance Indicators* (‘000) | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q1 2025 vs Q1 2024 |
|---|---|---|---|---|---|---|
| Mobile customers | 41,616 | 41,527 | 41,111 | 40,641 | 40,681 | 2.3% |
| Of which postpaid subscribers | 8,356 | 8,094 | 7,820 | 7,521 | 7,344 | 13.8% |
| Mobile ARPU ($) | 6.0 | 6.3 | 6.3 | 6.4 | 6.3 | (5.2)% |
| Homes passed | 13,553 | 13,539 | 13,498 | 13,453 | 13,400 | 1.1% |
| Of which HFC/FTTH | 13,332 | 13,318 | 13,276 | 13,229 | 13,169 | 1.2% |
| Customer relationships | 4,508 | 4,461 | 4,433 | 4,383 | 4,392 | 2.6% |
| Of which HFC/FTTH | 4,045 | 3,983 | 3,934 | 3,866 | 3,855 | 4.9% |
| HFC/FTTH revenue generating units | 8,067 | 8,134 | 8,169 | 8,153 | 8,165 | (1.2)% |
| Of which Broadband Internet | 3,852 | 3,786 | 3,706 | 3,626 | 3,602 | 6.9% |
| Home ARPU ($) | 24.8 | 26.4 | 27.1 | 28.1 | 28.3 | (12.5)% |
** KPIs exclude our joint venture in Honduras, which is not consolidated in the Group figures.*
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