Millicom International Cellular S.A. (NASDAQ:TIGO) Q1 2024 Earnings Call Transcript

Mauricio Ramos: Thank you, Eduardo. So definitely, a good start of the quarter, um, you know, rather than running behind the facts. So our leverage came down from 329 to 310. Our net debt went up a little bit, $20 million but then thanks to the EBITDA after leases growth $120 million. That’s what’s been driving our deleverage. You know, we expect to continue to produce much more equity free cash flow in the coming quarters in line with our targets. That would work on our net debt. And then on the other side, you know, the EBITDA after leases is up for a strong year and let’s see where we can land the year. So both metrics are going to be worked on. And then indeed, you know, we hold to our guidance to be close to 2.5 or at 2.5 by 2025.

You know, if this comes in early, great. But you know, it’s still early to tell because still a lot of challenges ahead of the year. You know, we’re just the first quarter. And we mentioned already some macro issues in Bolivia and in Honduras. Then there are always regulations, taxations, name it. And business competition remains very, very high in our region. But, you know, off from a good start.

Bart Vanhaeren: The key point, Eduardo, is that it remains the priority to reduce leverage.

Michel Morin: So, thank you, Eduardo. I think we’ll leave it at that. Mauricio, any final words?

Mauricio Ramos: Sure. I want to take the opportunity to thank everyone who has helped do two things. One, build this platform over the years and two, make it profitable because that is exactly where we are today, a more and more fantastic and profitable platform. So, thank you to everyone who’s contributed on both fronts. From here on, Marcelo, I hope you are taking notes because this is going to be over to you. I’ll stick around for strategic direction, for consultation and for government relations but I hope you took a lot of notes because the next quarters are all yours. Thank you, everybody, and thank you

Michel Morin: Thanks, everyone.