Business
Millicom (Tigo)’s 2022 Annual Report showcases a solid year and strong foundation for continued growth
Millicom (Tigo)’s 2022 Annual Report showcases a solid year and strong foundation for continued growth Luxembourg, February 28, 2023.– Millicom, a leading
About this update from Millicom International Cellular S.a.
[{"type":"text","content":"Millicom (Tigo)’s 2022 Annual Report showcases a solid year and strong foundation for continued growth Luxembourg, February 28, 2023.– Millicom, a leading provider of fixed and mobile services dedicated to emerging markets in Latin America, released its seventh fully integrated Annual Report, titled “Connect. Grow. Thrive”, which features a detailed account of the company’s strategy, actions and impact that led Millicom to finish 2022 with a strong business performance and a solid leading market position where it operates. “After years of focused, hard work, the foundation we’ve built is so robust that we were able to set ambitious and realistic operational, financial, ESG and capital allocation targets for the next three years of our journey. Our portfolio today puts us in a great position to meet them,” explained Millicom CEO, Mauricio Ramos. “Our purpose, business strategies and ESG ambitions have lined up beautifully in Latin America, and none of this would have happened—or will happen—without the Sangre Tigo culture that drives everything we do. There’s no doubt that our team members rose to every occasion in 2022, uniting under our shared purpose to build the digital highways that connect people, improve lives and develop communities,” Ramos added. During 2022, Millicom completed its exit from Africa and redeployed its capital to Latin America, now focusing 100% on its markets. Despite a difficult macroeconomic, each Millicom business unit and most countries where it operates sustained positive organic service revenue growth (+3.5%) for a second consecutive year. Additionally, during 2022, Millicom’s Board approved new operational, financial, ESG and capital allocation targets for the company’s next three years, along with strategies and initiatives to achieve them. In 2022, the company announced new science-based targets to reducing absolute scope 1 and 2 GHG emissions by 50% by FY2030 and absolute scope 3 GHG emissions by 20% by FY2035, both from a FY2020 base year, it also announced its commitment to achieve a 50% gender balance in managerial positions and at all levels of the organization by 2030. In terms of growth, Millicom’s 4G network now covers roughly 80% of the population in our Latin American footprint. Cable remained a strong engine of growth. Millicom’s networks passed 12.9 million homes by year’s end, an inc...