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Earnings Release Q3 2021 Luxembourg , October 28 , 2021 Broad - based growth continued in Q3 Group highlights Q3 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 . ● ● Net profit of $ 5 million , $ 0.05 per share , an improvement from a net loss of $ 51 million in Q3 2020 , reflects higher revenue generation , lower amortization expense , and a significant reduction in net interest expense , the result of debt repayment over the past year . Leverage declined , and we resumed shareholder remuneration via share repurchases . Financial highlights ( $ millions ) Q3 2021 1,093 Revenue Q3 2020 % change 1,026 6.5 % 97 103.6 % Operating Profit 197 Net profit / ( loss ) 5 ( 51 ) NM ● ● Revenue up 6.5 % to $ 1,093 million , with most countries and all business lines showing positive growth . Operating profit up 103.6 % , due to the improved revenue performance and increased profitability in Guatemala . ● tigo MILLICOM THE DIGITAL LIFESTYLE Latin America segment highlights¹ - Q3 2021 Our Latin America ( " Latam " ) segment includes our Guatemala and Honduras joint ventures as if they were fully consolidated . Latam segment highlights ( $ millions ) Revenue Service Revenue EBITDA EBITDA Margin Capex OCF ( EBITDA - Capex ) 9M 2021 9M 2020 1,548 1,427 622 40.2 % 287 335 3,270 447 ( 53 ) Service revenue up 8.2 % compared to Q3 2020 and 0.6 % compared to Q2 2021 , marking a fifth consecutive quarter of sequential growth . In Home , strong 88,000 HFC customer net additions drove service revenue growth of 13.3 % , and HFC RGU growth of 15.5 % . Strong prepaid and postpaid net additions drove mobile results , including a second consecutive quarter of more than 200,000 postpaid net additions in Colombia . EBITDA grew 7.1 % year - on - year , reflecting robust service revenue growth offset by growth related sales and marketing costs . Capex was $ 287 million in Q3 2021 and $ 694 million in 9M 2021 , up 19.0 % year - on - year as we have accelerated network investment in 2021. We anticipate that our capex - to - sales ratio should reach approximately 18 % in 2021 and return to the historical range of 16-17 % in 2022 . OCF was $ 335 million in Q3 2021 and $ 1,187 million in 9M 2021 , up 4.1 % year - on - year organically . 1,445 1,318 581 40.2 % 220 362 3,083 323 ( 288 ) % change 6.1 % 38.3 % ( 81.7 ) % Organic Organic Q3 2021 Q3 2020 % change % change 9M 2021 9M 2020 % change % change 7.1 % 7.4 % 7.3 % 7.5 % 8.2 % 8.5 % 6.9 % 7.1 % 7.1 % 7.4 % 9.0 % 9.0 % 0.6 pt 19.0 % 3.9 % 4,623 4,309 4,258 3,984 1,881 1,725 40.0 % 40.7 % 694 30.7 % 583 ( 7.3 ) % ( 6.1 ) % 1,187 1,142 4.1 % Service revenue , EBITDA , EBITDA margin , Capex , OCF and Organic growth are non - IFRS measures . See page 13 for a description of these measures and for reconciliations to the nearest equivalent IFRS measures . 1