Brief: Millicom International Cellular Q1 Operating Profit Falls To $134 Million

Millicom International Cellular SA

30/04/2020 11:11

April 30 (Reuters) - Millicom International Cellular SA
 TIGOsdb.ST :
    * Q1 REVENUE USD 1,088  MILLION VERSUS USD 1,035 MILLION
YEAR AGO
    * Q1 OPERATING PROFIT USD 134  MILLION VERSUS USD 161
MILLION YEAR
AGO
    * Q1 NET LOSS USD 122 MILLION VERSUS PROFIT USD 13 MILLION
YEAR
AGO
    * OUR SUPPLY CHAIN CONTINUES TO FUNCTION WITHOUT ANY
MEANINGFUL
INTERRUPTION,
    * - WE NOW ANTICIPATE OUR OPERATING AND FINANCIAL
PERFORMANCE IN
Q2 AND 2020 WILL BE MATERIALLY WEAKER THAN ANTICIPATED
    * WE ARE LEAVING UNCHANGED OUR MEDIUM TERM GOALS
    * IMPLEMENTED  COST SAVINGS OF AT LEAST $100 MILLION,
REFLECTING
LOWER LEVELS OF ACTIVITY AS WELL AS NEW MEASURES;
    * IMPLEMENTED INITIATIVE OF CAPEX REDUCTION OF $200-300
MILLION
    * IMPLEMENTED INITIATIVE OF  CANCELLATION OF THE DIVIDEND
FOR 2020
($100 MILLION)
    * IMPLEMENTED INITIATIVE OF  .SUSPENSION OF THE SHARE
BUYBACK
PROGRAM

Source text for Eikon:  ID:nGNE8Yhsv9 
Further company coverage:  TIGOsdb.ST 

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