30 JUL 2020

MILLICOM SEES SOME EASING IN ITS Q2 REPORT

Although the lockdowns had a major impact on its mobile business, especially in those markets with severe mobility restrictions, most of Millicom's key performance indicators and its revenue improved in June.

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Mauricio Ramos, Chief Executive Officer at Millicom

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Although the lockdowns had a major impact on its mobile business, especially in those markets with severe mobility restrictions, Millicom is now seeing some easing, and most of its key performance indicators and its revenue improved in June as compared to April and May, according to the company’s Q2 trading results.

“The second quarter of 2020 was one of the most challenging in Millicom's 30-year history, but we have responded quickly and decisively to the pandemic. Our primary goal has been to protect our employees and customers and to keep our communities connected during this time of need. The measures we have taken are paying off, as we have maintained or increased market share, preserved cash flow, and have continued to make progress on strategically important initiatives,”  said Mauricio Ramos, Chief Executive Officer at Millicom.

As the group navigates through the crisis, it remains focused on building a purpose-driven and client-centric organization that attracts a diverse and talented workforce. Once again, Millicom has been recognized as a “Great Place To Work,” ranking thirteenth among all companies in Latin America, and the number one telco on the list.

At the same time, it continues to invest in its state-of-the-art broadband networks, including major mobile network upgrades ongoing in Colombia, El Salvador, Panama, and Nicaragua. The company is also investing in more digital channels and tools.

“The ongoing pandemic presents many challenges in the short term, but I am more confident than ever in the long-term opportunity before us. As the premier provider of fast and reliable broadband in our markets, we are uniquely positioned to benefit,”  Ramos concluded.

The second quarter of 2020 was one of the most challenging in Millicom's 30-year history, but we have responded quickly and decisively to the pandemic” Mauricio Ramos Chief Executive Officer at Millicom