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Earnings Release Q1 2021 Luxembourg , April 29 , 2021 tigo MILLICOM THE DIGITAL LIFESTYLE Group highlights Q1 2021 A record start to 2021 The financial highlights discussed and summarized in the table below are presented on an IFRS basis and therefore do not include the fully consolidated results from our Guatemala and Honduras joint ventures . . Operating and financial metrics continued to improve in every country and business unit , with very robust customer net additions in both our Cable and Mobile businesses and solid new account wins in B2B . Revenue was stable year - on - year , reflecting a recovery to pre - COVID activity levels in Q1 2021 . Net profit turned positive and was $ 42 million in Q1 2021 , up from a Net loss of $ 122 million in Q1 2020 . Signed agreements to complete Africa divestiture program - net proceeds to accelerate deleveraging plans . Financial highlights ( $ millions ) Revenue Operating Profit Net Profit ( Loss ) attributable to owners Q1 2021 1,088 115 Q1 2020 1,088 134 % change 0.1 % ( 13.9 ) % 42 ( 122 ) NM Latin America segment highlights¹ - Q1 2021 Our Latin America ( " Latam " ) segment includes our Guatemala and Honduras joint ventures as if fully consolidated . Service revenue growth up 1.3 % year - on - year , with strong momentum across all businesses and markets . • • • • In Home , record HFC customer net adds of 166,000 and stable ARPU fueled service revenue growth of 6.5 % . In Mobile , net additions of 1.1 million , with robust performance in all countries in both prepaid and postpaid . EBITDA grew 6.3 % , our strongest performance in more than five years , reflecting the improved top line performance and sustained cost control . • OCF grew 10.4 % to $ 471 million , consistent with our target of at least $ 1.4 billion for the year . Latam segment highlights ( $ millions ) Q1 2021 Q1 2020 % change Organic % change Revenue 1,530 1,504 1.7 % 2.7 % Service Revenue 1,413 1,395 1.3 % 2.2 % EBITDA 638 600 6.3 % 5.9 % EBITDA Margin 41.7 % 39.9 % 1.8 pt Capex OCF ( EBITDA - Capex ) 167 471 174 ( 3.9 ) % 427 10.4 % 9.7 % Millicom Chief Executive Officer Mauricio Ramos commented : " Our operational focus and strategic investments over the past year are paying off . After an incredibly strong Q1 , we now have more customers , and we are generating more revenue , more EBITDA and more OCF than we did one year ago , before the start of the pandemic . We did not just recover ; we are now above pre - COVID levels on most of our operational and financial KPIs . During the quarter , we added 166,000 customers in Home , by far our best quarterly result ever , and we added 1.1 million customers in Mobile , our strongest Q1 performance in a decade . As a result , service revenue , EBITDA and OCF accelerated in Q1 , and the quarter ended on a very positive note , with Latam service revenue growth exceeding 5.5 % in March . Strategically , we announced that we have signed agreements to dispose of our remaining operations in Africa . The Tanzania sale was the culmination of a structured and competitive process with multiple bidders . We are very pleased with the outcome and plan to use the proceeds to reduce our net debt . Our strong Q1 and these disposals give us increased flexibility to resume share buybacks later this year . " 1 Service revenue , EBITDA , EBITDA margin , Capex , OCF and Organic growth are non - IFRS measures . See page 12 for a description of these measures and for reconciliations to the nearest equivalent IFRS measures . 1