Millicom International Cellular SA SEDR

TIGO SDB: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SEK 721.00	Kljsy	Brxsvyk

Millicom Earnings: Profitability Takes Another Step Forward

Michael Hodel

May 9, 2024

Millicom provided a glimpse of its potential during the first quarter, as aggressive cost-cutting delivered a sharp increase in profitability. The Guatemalan business, Millicom’s most important, delivered revenue growth for the first time in more than a year, giving an early indication that America Movil is backing off in its aggressive push for market share. We’re increasing our fair value estimate to $34 from $30.

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