{"id":17724,"date":"2020-05-01T10:54:14","date_gmt":"2020-05-01T10:54:14","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=279529"},"modified":"2020-05-01T10:54:14","modified_gmt":"2020-05-01T10:54:14","slug":"millicom-moves-to-limit-virus-effects","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/05\/01\/millicom-moves-to-limit-virus-effects\/","title":{"rendered":"Millicom moves to limit virus effects"},"content":{"rendered":"

<\/p>\n

\tMillicom remained resolute in the face of the Covid-19 (coronavirus) pandemic as revenue grew during Q1, however the company set out its defence in anticipation of much harder impact in the current quarter.<\/p>\n

In an earnings statement, Millicom said Q1 revenue increased 5.1 per cent year-on-year to $1.1 billion, driven by acquisitions in Panama and Nicaragua [1], which offset the translation impact of weaker currencies in other markets including Colombia and Paraguay.<\/p>\n

Forex swings and tax expenses did, however, push the company into the red in the quarter, as it posted a net loss of $122 million versus a $13 million profit in Q1 2019.<\/p>\n

Millicom\u2019s customer base grew 16.4 per cent to 39.4 million, 14.9 million of which were 4G customers.<\/p>\n

The latter metric grew 38.3 per cent, again driven by the aforementioned acquisitions.<\/p>\n

Defence measures
\nTurning to the Covid-19 situation, Millicom noted that, so far, the countries where it operates have reported fewer cases and fatalities than the US and Europe, which could reflect lack of testing and reporting.<\/p>\n

It added it hopes government restrictions in its markets could prove effective at containing the spread.<\/p>\n

In Q1, it said revenue was impacted by less than 1 per cent by the pandemic, but it anticipates a more material impact on income during the current quarter, which could continue into \u201cat least through the remainder of 2020\u201d.<\/p>\n

CEO Mauricio Ramos (pictured) updated on a range of measures in place to limit the effects, including a reduction in capex; implementing new cost savings initiatives; deferring other investment plans; and suspending all share repurchases: the board also decided not to recommend a dividend pay-out.<\/p>\n

\u201cIn aggregate, we expect these actions will enhance our 2020 cash flow by more than $550 million and position us to resume the execution of our plans once the pandemic passes,\u201d he said.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/millicom-moves-on-telefonica-central-america-units\/<\/p>\n\n

\\\"IT\u96fb\u8166\u88dc\u7fd2
\u7acb\u523b\u8a3b\u518a\u53ca\u5831\u540d\u96fb\u8166\u88dc\u7fd2\u8ab2\u7a0b\u5427!<\/figcaption><\/figure>\r\n<\/br>Find A Teacher Form:\r\n<\/br>https:\/\/docs.google.com\/forms\/d\/1vREBnX5n262umf4wU5U2pyTwvk9O-JrAgblA-wH9GFQ\/viewform?edit_requested=true#responses\r\n<\/br><\/br>Email:\r\n<\/br>public1989two@gmail.com






\r\nwww.itsec.hk<\/a>
\r\nwww.itsec.vip<\/a>
\r\nwww.itseceu.uk<\/a>
<\/p>","protected":false},"excerpt":{"rendered":"

Millicom remained resolute in the face of the Covid-19 (coronavirus) pandemic as revenue grew during …<\/p>\n

The post Millicom moves to limit virus effects<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":247,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Millicom moves to limit virus effects - ITTeacherITFreelance.hk","description":"Millicom remained resolute in the face of the Covid-19 (coronavirus) pandemic as revenue grew during ... The post Millicom moves to limit virus effects appeared"},"footnotes":""},"categories":[11,8],"tags":[],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/17724"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/247"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=17724"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/17724\/revisions"}],"predecessor-version":[{"id":17725,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/17724\/revisions\/17725"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=17724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=17724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=17724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}