This excerpt taken from the MICC 6-K filed Apr 12, 2006.
MILLICOM ADDS NEARLY 963,000 SUBSCRIBERS IN
New York and Stockholm - April 12th, 2006 - Millicom International Cellular S.A. ("Millicom") (Nasdaq Stock Market: MICC, Stockholmsbörsen: MIC), one of the world's leading cellular operators in emerging markets, today announces that it added nearly 963,000 subscribers through organic growth across its operations in the first quarter of 2006, bringing the total for the Group to 9,891,692 as at March 30th 2006.
These subscriber additions represent growth of 11% in total subscribers from the previous quarter and 52% from the first quarter of 2005, on a pro forma basis.
Marc Beuls, Millicom President and Chief Executive Officer said: We have started the year very well in terms of subscriber growth, demonstrating the strength of our positions in rapidly growing emerging markets. The key growth drivers have been the launch of the Tigo brand, improved distribution networks and substantially increased capex to add extra capacity and coverage which gives us a competitive advantage. We have continued to see the highest subscriber growth in Latin America which is testament to the success of our Tigo brand.
This strong subscriber growth has been reflected in the top line. Underlying year-on-year pro forma revenue growth continues to accelerate and Q1 growth is stronger than the 36 per cent revenue growth seen in Q4 2005.
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has cellular operations and licenses in 16 countries. The Groups cellular operations have a combined population under license of approximately 390 million people.
This press release may contain certain forward-looking statements with respect to Millicoms expectations and plans, strategy, managements objectives, future performance, costs, revenues, earnings and other trend information. It is important to note that Millicoms actual results in the future could differ materially from those anticipated in forward-looking statements depending on various important factors. Please refer to the documents that Millicom has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Millicoms most recent annual report on Form 20-F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to Millicom on the date hereof. All written or oral forward-looking statements attributable to Millicom International Cellular S.A., any Millicom International Cellular S.A members or persons acting on Millicoms behalf are expressly qualified in their entirety by the factors referred to above. Millicom does not intend to update these forward-looking statements.
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