Millicom (Tigo) publishes its 2025 Annual Report, highlighting record financial results and expanded regional footprint

Rhea-AI Summary

Millicom (TIGO) published its 2025 Annual Report on March 24, 2026, reporting record results and regional expansion across Latin America.

The company reported $5.8 billion revenue, $1.3 billion net profit, and $916 million Equity Free Cash Flow, plus acquisitions in Ecuador and Uruguay and market moves in Colombia and Chile.

Positive

• Revenue $5.8B reported for 2025
• Net profit $1.3B recorded in 2025
• Equity Free Cash Flow $916M — a company record
• Acquisitions in Ecuador and Uruguay expanded regional footprint
• Entry into Chile and consolidation in Colombia strengthened Latin America presence

Negative

• None.

News Market Reaction – TIGO

+2.50%

1 alert

+2.50% News Effect

On the day this news was published, TIGO gained 2.50%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Revenue: $5.8 billion Net profit: $1.3 billion Equity Free Cash Flow: $916 million

3 metrics

Revenue $5.8 billion Full-year 2025 revenue highlighted in Annual Report

Net profit $1.3 billion Full-year 2025 net profit in Annual Report

Equity Free Cash Flow $916 million Record 2025 Equity Free Cash Flow

Market Reality Check

Price: $75.33 Vol: Volume 1,280,794 is sligh...

normal vol

$75.33 Last Close

Volume Volume 1,280,794 is slightly below the 20-day average of 1,463,976 (0.87x). normal

Technical Price $75.07 is trading above the 200-day MA at $51.03, near the $75.25 52-week high.

Peers on Argus

TIGO gained 3.57% alongside multiple Telecom peers up on the day, including SKM ...

TIGO gained 3.57% alongside multiple Telecom peers up on the day, including SKM (+6.05%), KT (+2.85%), LBRDA (+2.30%), and LBRDK (+1.59%), suggesting a broader sector tailwind.

Previous Earnings Reports

5 past events · Latest: Feb 26 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Q4 2025 earnings	Positive	+6.0%	Strong FY 2025 revenue, profit, and EFCF beating targets with lower leverage.
Feb 13	Earnings notice	Neutral	-0.0%	Announcement of Q4 2025 results date and investor video conference details.
Nov 06	Q3 2025 earnings	Positive	+3.8%	Q3 revenue, record Adjusted EBITDA, strong EFCF and leverage at 2.09x.
Oct 16	Earnings notice	Neutral	-0.7%	Scheduling and access details for upcoming Q3 2025 results conference.
Aug 07	Q2 2025 earnings	Positive	+7.6%	Strong Q2 revenue, record EBITDA, high net profit and EFCF plus dividend.

Pattern Detected

Earnings-related news has generally been received positively, with all recent results and notices showing aligned market reactions.

Recent Company History

This announcement builds on a series of strong earnings updates. Recent releases highlighted Q4 2025 revenue of $1.65 billion, FY 2025 revenue of $5.82 billion, operating profit of $1.64 billion, and Equity Free Cash Flow of $916 million, ahead of a $750 million target. Earlier quarters showed record Adjusted EBITDA, sizeable infrastructure proceeds, leverage around 2.1x–2.3x, and a special dividend of $2.50 per share. The 2025 Annual Report formalizes these record results and the expanded Latin American footprint.

Historical Comparison

+3.3% avg move · Recent earnings and earnings-related releases have averaged a 3.33% move, so the current Annual Repo...

earnings

+3.3%

Average Historical Move earnings

Recent earnings and earnings-related releases have averaged a 3.33% move, so the current Annual Report-related reaction sits broadly in line with prior patterns.

Across 2025–2026, earnings updates showed rising profitability, strong Equity Free Cash Flow, infrastructure monetizations, and leverage maintained around the 2x range, now consolidated in the 2025 Annual Report.

Market Pulse Summary

This announcement formalizes a historic 2025 for Millicom, featuring revenue of $5.8 billion, net pr...

Analysis

This announcement formalizes a historic 2025 for Millicom, featuring revenue of $5.8 billion, net profit of $1.3 billion, and record Equity Free Cash Flow of $916 million, alongside expansion in Ecuador, Uruguay, Colombia, and Chile. It follows prior quarterly updates that emphasized strong EBITDA, infrastructure monetizations, and controlled leverage. Investors may focus on how these results translate into future capital allocation, integration of new assets, and maintenance of cash generation levels.

Key Terms

equity free cash flow

1 terms

equity free cash flow financial

"and a record $916 million in Equity Free Cash Flow i, while significantly"

Equity free cash flow is the amount of cash a company generates that is available to pay shareholders after it pays operating costs, reinvests in the business, and handles debt-related payments and borrowings. Think of it as the household money left over after paying bills, fixing the house, and settling loans—funds that could be used for dividends, share buybacks, or retained for future needs. Investors use it to judge how much real cash a company can return to owners and to value a stock.

AI-generated analysis. Not financial advice.

Millicom (Tigo) publishes its 2025 Annual Report,

highlighting record financial results and expanded regional footprint

Luxembourg, March 24, 2026 –Millicom International Cellular S.A. (“Millicom”) today published its 2025 Annual Report, including the standalone financial statements of the Company, reflecting a historic year defined by strong performance and strategic milestones.

In 2025, the Company delivered record financial results and significantly expanded its regional footprint. This reflects its long-term commitment to connect customers, support communities, empower employees, and create value for its shareholders.

"Millicom has reached a new level of scale and performance. We delivered record financial results, including $5.8 billion in revenue, $1.3 billion in net profit, and a record $916 million in Equity Free Cash Flow ⁱ, while significantly expanding our footprint across Latin America. From the acquisitions in Ecuador and Uruguay to the consolidation of our position in Colombia and our entry into Chile, we are reinforcing our position as a leading regional operator across Latin America, with the scale and capabilities to capture growth opportunities while expanding digital inclusion," said Maxime Lombardini, Chairman of the Board and Marcelo Benitez, CEO of Millicom.

For further details, please click on the following link: https://www.millicom.com/results/ar-2025

-END-

For further information, please contact

Press: Sofía Corral, Director Corporate Communications press@millicom.com

Investors: Luca Pfeifer, VP for Investor Relations investors@millicom.com

About Millicom

Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, highspeed data, voice, and business-to-business solutions such as cloud and security. As of December 31, 2025, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people and provided mobile and fiber-cable services through its digital highways approximately 52 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.

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ⁱ Equity free cash flow is a non-IFRS financial measure.  A reconciliation to the most directly comparable IFRS measure and a description of its calculation are available in the 2025 Annual Report and at https://www.millicom.com/results/ar-2025  .

 

FAQ

What financial results did Millicom (TIGO) report in its 2025 Annual Report released March 24, 2026?

Millicom reported $5.8 billion revenue, $1.3 billion net profit, and $916 million Equity Free Cash Flow. According to the company, these figures represent record financial results and improved cash generation in 2025.

Which countries did Millicom (TIGO) expand into or acquire in 2025 as noted in the March 24, 2026 report?

Millicom completed acquisitions in Ecuador and Uruguay, entered Chile, and consolidated its position in Colombia. According to the company, these moves materially expanded its Latin America regional footprint.

How did Millicom (TIGO) describe its strategic position after the 2025 Annual Report on March 24, 2026?

Millicom said it reached a new level of scale and performance with record financials and expanded presence across Latin America. According to the company, this reinforces its position as a leading regional operator.

What cash metric did Millicom (TIGO) highlight as a record in the 2025 Annual Report dated March 24, 2026?

Millicom highlighted a record $916 million Equity Free Cash Flow for 2025. According to the company, this metric reflects stronger cash generation and supports shareholder value creation.

Where can investors find more information about Millicom (TIGO)'s 2025 Annual Report published March 24, 2026?

Investors can access the full 2025 Annual Report on Millicom's results website via the company link. According to the company, the report includes standalone financial statements and detailed disclosures.