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UPDATE 1-Millicom Q3 core earnings beats expectations
October 25, 2017 / 6:59 AM / in a month

UPDATE 1-Millicom Q3 core earnings beats expectations

STOCKHOLM, Oct 25 (Reuters) - Emerging markets telecoms and media group Millicom late on Tuesday said it sees core earnings in its Latin American business growing by 4 to 6 percent in the fourth quarter, as it posted third-quarter core profit slightly above expectations.

* Q3 EBITDA $556 mln vs Reuters poll of $545 mln

* Says for Latin America it anticipates year-on-year constant currency service revenue growth in the range of 2 to 4 pct and EBITDA growth of 4 to 6 pct

* Says “Our Latam segment continues to perform in line with our expectations, excluding regulatory impacts. Stronger than expected customer intake has been an additional drag on EBITDA year-to-date, but this is now beginning to deliver faster growth.”

* Millicom previously forecast 2017 full-year EBITDA percentage organic growth to be in the lower range of mid to high single-digits

* Millicom’s Jan-Sept EBITDA organic growth was 0.6 pct

* Says with Senegal and Ghana accounted for as discontinued operations, the perimeter for the group has changed and Africa represents less than 10 pct of group revenue

* Says continues to expect Africa operations will generate positive equity free cash flow in 2017

* Q3: Qtrly revenue $1.51 billion versus $1.49 billion in Q3 2016

* Q3: Qtrly ‍operating cash flow (EBIDTA - CAPEX) $314 million versus $328 million in Q3 2016​ (Reporting by Olof Swahnberg, Editing by Helena Soderpalm)

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