Millicom accelerates revenue growth, profitability

Stockholm, July 17, 2013 – Millicom, the international telecommunications and media company (Stockholmsbörsen: MIC) today announced its half-year 2013 results. The highlights include: -       Reported growth in the second quarter reached 6.5%. On a like-for-like basis revenue grew 9.4% (excluding one-off and regulatory impacts) to $1,258 million (7.7% excluding Online) -       In the first half, over 1.5 million more of our mobile customers were upgraded to mobile data services -       Mobile Financial Services penetration reached 10% of the mobile customer base at the end of June -       Online business growth accelerated in the second quarter and we saw momentum building in our African online ventures -       Group EBITDA declined to $463 million pointing to an underlying margin of 39.5%. Group outlook for 2013 EBITDA margin has been adjusted to around 40%, offset by lower than expected losses in the Online division The second quarter resulted in accelerating underlying and reported trends: -       Mobile data revenue grew by 30% year-on-year on the back of a high rate of mobile data conversion: over 1.5 million more of the customer base was converted in H1 -       In Cable & Digital Media, our net new RGUs reached new highs in Q2 and our growth accelerated. We applied for further DTH licences in Latin America to broaden our reach and continue diversifying our product offering -       In our Online activity, growth has accelerated while costs have been contained, evidence of combining the execution strengths of our new partners with our emerging markets existing know-how Commenting on the performance, Hans-Holger Albrecht, President and CEO of Millicom said: “The continued growth in data revenues confirms the strong trend we outlined at Q1 results. It underlines the importance of our drive to transform the company into the provider of a diversified range of digital lifestyle services whether accessing Facebook on an inexpensive smartphone or watching Latin American football on our TV network. These services symbolise the new Millicom and are evidence of implementation of our five-year strategy. Its achievement requires a strong investment phase but I am pleased that we are executing successfully our plans while focusing also on costs and on emerging market consumers’ growing demand to transform their lives by using digital services.” To read the half-year results in full go to: www.millicom.com/all-news: Press Enquiries: Julian Eccles, VP, Corporate Communications +44 7720 409 374 press@millicom.com Investor Enquiries: Justine Dimovic, Director, Head of Investor Relations +352 27 759 479 investors@millicom.com About Millicom Millicom is a leading international telecommunications and media company 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 10,000 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 2012, Millicom generated revenue of USD 4.81 billion and EBITDA of USD 2.07 billion. This press release contains “forward-looking statements”, which are statements that are not historical facts, including statements concerning the parties' ability to complete the proposed transaction; the anticipated timing of the proposed transaction; the expected benefits and costs of the proposed transaction; management plans relating to the proposed transaction;  any statements of operations, including the execution of integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing.  Any statement in this announcement that expresses or implies any party's intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement.  Forward-looking statements involve inherent risks, uncertainties and assumptions which could cause actual results to differ materially from those expressed or implied by such forward-looking statements and assumptions. The forward-looking statements contained in this announcement are made as of the date hereof, and each party expressly disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this announcement.  This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.