|By Business Wire||
|February 12, 2013 02:24 AM EST||
Q4 2012 Highlights
- Revenue of $1,266 million. Local currency growth of 6.4% YoY, excluding Cablevision, including Online.
Excluding regulatory impacts and reclassifications, the growth would have been 7.6%
- EBITDA reached $528 million and a margin of 41.7%. EBITDA was YoY flat excluding Online and Cablevision
- Bonds issued in Q4 for $600 million, extending debt maturity to over 3.4 years
- Over 4 million MFS customers, MFS launched in Chad
FY 2012 Highlights
- Local currency revenue growth of 8.0% to $4,814 million (8.7% excluding regulatory impact and Cablevision Paraguay)
- EBITDA of $2,065 million and EBITDA margin of 42.9% (43.2% excluding Online)
- Capex of $922 million (19.1% of revenue), excluding spectrum, licenses and Cablevision assets
- Operating Free Cash Flow of $1,127 million (23.4% of revenue) excluding spectrum, licenses and Cablevision assets
- The Board will propose a dividend of $2.64 per share to the AGM to be convened on May 28, 2013
2013 forward looking statements
We expect 2013 Group EBITDA margin to be above 40% (excluding Online) and to decline less than over the past twelve months. In 2013, the capex to revenue ratio will peak at around 20%, excluding spectrum acquisition.
In 2013 we expect the Online division to deliver in excess of $100 million of revenues and EBITDA losses to be in the range of $125-200 million. Losses will be on the high side of the range if we see an opportunity to accelerate growth and ramp up launches.
Financial summary for the quarters ended December 31, 2012 and 2011
YOY % change
|FY 2012||FY 2011||
YOY % change
|Normalized Net Profit (ii)||155||188||655||767|
|Operating FCF (iv)||375||300||1,127||1,218|
(i) EBITDA: operating profit before interest, tax, depreciation and amortization; derived by deducting cost of sales, sales and marketing costs and general and administrative expenses from revenue and adding other operating income.
(ii) Net profit adjusted for items such as foreign exchange movements, movements in valuation of the Honduras put option, Colombian deferred tax asset, and revaluation of previously held interests.
(iii) Excluding towers sold to, and leased back from tower companies, spectrum and assets acquired with Cablevision Paraguay.
(iv) Operating Free Cash Flow: EBITDA – Capex (excluding spectrum) - Tax +/- working capital movements and includes proceeds from tower monetization.
Hans-Holger Albrecht, President and CEO of Millicom, commented:
"2012 has been a year of investment for Millicom. We stepped up our investment in infrastructure and in commercial activities, notably in branding and subsidies to ensure we deliver the best quality services to our customers. We also invested in our people through the staffing of our different business categories. These investments are even more important given that the maturing of the voice business is accelerating in the fourth quarter with material regulatory pressure. We are constantly innovating by identifying and scaling up new opportunities that have yet to be addressed by the industry. It is our relentless pace of innovation, initiated long ago by our founder, which enabled us to continue growing at an industry leading 8% rate in 2012. We generated close to 35% of our revenues from Value Added Services, well on track to reach our mid-term ambitions to diversify revenue and to reduce reliance on mobile voice services.
In line with our 2012 guidance, EBITDA margin declined by 2.9 percentage points in 2012 versus 2011 to 43.2% (excluding Online). As previously communicated, we increased investment in IT and 3G services while maintaining a capex to revenue ratio below 20%. At 23% of revenues, our cash flow generation was healthy and above previously communicated targets.
In 2013 the transition from voice to data and from analogue to digital TV will accelerate as we ensure Millicom remains a growth company. Our priorities will be to 1) secure high market share and further monetize mobile data , 2) grow our cable business by exploiting untapped potential, 3) expand our MFS business from its initial success, and 4) explore and further develop Online opportunities in our partnership with Rocket Internet. Creation of a leading integrated operator in Colombia with EPM (the leading utility company in the Northwest region of Colombia) would enable us to accelerate our development in cable, whilst offering material opportunities to cross-sell and up-sell innovative and best quality services to customers.
In 2013 we expect EBITDA margin to decline less than in 2012, and remain above 40%, and capex to revenue to peak at around 20% (both excluding Online). We have recently increased our focus on costs and capex avoidance to improve the productivity of our investments and adjust our costs structure to the slowing growth momentum on voice. Building on Millicom’s pioneering approach to Value Added Services; we will focus on becoming a Digital leader. We will share more on our strategic priorities and mid-term ambitions at our Capital Markets Day on March 6.
The Board has decided to propose to the annual general assembly the payment of a dividend of $2.64 per share. Our dividend policy is maintained and we have the ambition to progressive growth in ordinary dividends.
At Millicom, we demand more to ensure we delight our customers at every turn. We demand more to create a culture within Millicom which is truly energising. We demand more to create greater shareholder value. We demand more to strengthen our position as digital lifestyle leaders. Demanding more helps us reach for the stars while keeping us grounded. That makes us Millicom."
Conference call details
A presentation and conference call to discuss results of the quarter will take place at 14.00 Stockholm / 13.00 London / 08.00 New York, on Tuesday, February 12, 2013. Dial-in numbers: +46 (0)850 336 434, +44 (0)1452 555 566, or +1 631 510 7498. Access code: 92960289#.
A live audio stream of the conference call can also be accessed at www.millicom.com. Please dial in / log on 10 minutes prior to the start of the conference call to allow time for registration.
Slides to accompany the conference call are available at www.millicom.com.
Millicom is a leading telecom operator 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. The Millicom Group employs more than 8,000 people and provides mobile services, access to the internet, content and financial services to over 45 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2011, Millicom generated revenue of USD 4.53 billion and EBITDA of USD 2.09 billion.
This press release may contain certain “forward-looking statements” with respect to Millicom’s expectations and plans, strategy, management’s objectives, future performance, costs, revenue, 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.
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., and 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.
This information was brought to you by Cision http://www.cisionwire.com
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Nov. 23, 2014 07:30 PM EST Reads: 1,623
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 23, 2014 12:00 PM EST Reads: 1,577
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
Nov. 23, 2014 07:45 AM EST Reads: 1,425
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Nov. 22, 2014 10:00 PM EST Reads: 1,282
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
Nov. 22, 2014 05:30 PM EST Reads: 1,435
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Nov. 22, 2014 05:30 PM EST Reads: 1,399
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Nov. 22, 2014 05:30 PM EST Reads: 1,239
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Nov. 21, 2014 09:15 PM EST Reads: 1,330
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
Nov. 21, 2014 08:00 PM EST Reads: 1,404
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
Nov. 21, 2014 08:00 PM EST Reads: 1,341
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 21, 2014 07:00 PM EST Reads: 1,259
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
Nov. 20, 2014 09:15 PM EST Reads: 1,357
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
Nov. 20, 2014 06:00 PM EST Reads: 1,307
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
Nov. 20, 2014 04:45 PM EST Reads: 1,095
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
Nov. 20, 2014 01:00 PM EST Reads: 1,552
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Nov. 20, 2014 12:30 PM EST Reads: 1,776
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Nov. 18, 2014 09:00 PM EST Reads: 2,009
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
Nov. 18, 2014 08:15 PM EST Reads: 1,545
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Nov. 18, 2014 01:30 PM EST Reads: 2,000
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world. The next @ThingsExpo will take place November 4-6, 2014, at the Santa Clara Convention Center, in Santa Clara, California. Since its launch in 2008, Cloud Expo TV commercials have been aired and CNBC, Fox News Network, and Bloomberg TV. Please enjoy our 2014 commercial.
Nov. 13, 2014 05:00 AM EST Reads: 3,539