Millicom International Cellular S.a. · NASDAQ:TIGO
Millicom International Cellular — J.P. Morgan High Yield and GEM Conferences 2021
16 slides from Millicom International Cellular's conference presentation, Mar 3, 2021
Slide 1: J.P. Morgan High Yield and GEM Conferences
J.P. Morgan High Yield and GEM Conferences Tim Pennington, CFO March 3rd, 2021 Millicom International Cellular S.A.
Slide 2: Safe Harbor
Safe Harbor Cautionary Language Concerning Forward-Looking Statements Statements included herein that are not historical facts, including without limitation statements concerning future strategy, plans, objectives, expectations and intentions, projected financial results, liquidity, growth and prosp
Slide 3: Non IFRS measures
Non IFRS measures This presentation contains financial measures not prepared in accordance with IFRS. These measures are referred to as “non-IFRS” measures and include: non-IFRS service revenue, non-IFRS EBITDA, and non- IFRS Capex, among others defined below. Annual growth rates for these non-IFRS
Slide 4: Story of 2020: steady recovery from COVID
Story of 2020: steady recovery from COVID Resilience of business shows recovery from Q2 lows Service Revenue EBITDA Latam Service Revenue1 ($m) Latam EBITDA1 ($m) Q4 19- Q4 20 Q4 19- Q4 20 1,442 636 634 1,395 1,394 2.0% 2.3% 0.2% 1.0% 600 1,318 -0.4% 581 1,270 -2.5% 544 -3.1% -5.6% -6.8% -8.1% Q4 19
Slide 5: Strong subscriber growth
Strong subscriber growth Robust net adds +1.9m +277k Mobile subscribers HFC home customers Q4 19 Q4 20 Q4 19 Q4 20 Protecting our market leadership 42m 4.5m Mobile subscribers Home customers 18m 4G data users 5 Net additions and subscribers relate to Latam.
Slide 6: Levers constantly adjusted to optimize the output
Levers constantly adjusted to optimize the output Investment plans constantly adjusted to deliver optimal result Capex OCF Underlying Capex1 ($m) Underlying OCF1 ($m) Q1 20- Q4 20 Q1 20- Q4 20 Initial reduction target 1,497 ~1,100 announced at Q1 300 989 1,197 200-300 381 816 367 449 Original Covid
Slide 7: Sustained network investment
Sustained network investment 2020 investment highlights Latam capex paying off +8% HFC 16% +277k $1b Capex 1 Capex to HFC Customer Net additions HFC customer growth Sales1 Colombia 700 MHz spectrum roll-out +6% +428k +5,400 Upgraded 2,300 2 Mobile customer growth HFC homes Upgraded PoPs passed PoPs2
Slide 8: Latam service revenue – Q4 and FY 2020
Latam service revenue – Q4 and FY 2020 YoY organic growth for Service revenue1($m) Q4 19 - Q4 20 and 2019 - 2020 -0.4% -3.4% 1,442 Q4 2020 0.0% 3.8% 6.3% 1,394 Q4 19 Mobile Home B2B Fx and Other Q4 20 B2C -2.5% 5,514 -2.5% FY 2020 5,377 -4.3% 3.3% -6.6% 2019 Mobile Home B2B Fx, M&A, and Other 2020 B
Slide 9: Q4 Latam service revenue by country
Q4 20 Latam service revenue by country Service revenue ($m), and YoY organic growth1, Q4 19 – Q4 20 Guatemala (24% of Latam) Honduras (10% of Latam) Panama (10% of Latam) El Salvador (7% of Latam) 6.6% -3.4% -6.3% 9.0% 334 136 144 95 Q4 19 Q4 20 Q4 19 Q4 20 Q4 19 Q4 20 Q4 19 Q4 20 Colombia (23% of L
Slide 10: Latam EBITDA – Q4 and FY 2020
Latam EBITDA– Q4 and FY 2020 YoY organic growth EBITDA1 ($m) Q4 19 - Q4 20 and 2019 - 2020 -0.2% Q4 2020 636 634 1.0% Q4 19 Organic growth FX Q4 20 40.3% 40.4% -2.4% 2,418 2,360 FY 2020 -3.7% 2019 Organic growth FX Perimeter 2020 40.5% 40.4% EBITDA1 YoY organic growth EBITDA1 margin 10 1) Non-IFRS m
Slide 11: Q4 Latam EBITDA by country
Q4 20 Latam EBITDA by country EBITDA($m), and YoY organic growth1, Q4 19 – Q4 20 Guatemala (31% of Latam) Honduras (10% of Latam) Panama (10% of Latam) El Salvador (7% of Latam) 14.7% -7.6% -11.5% 9.9% 210 67 44 64 Q4 19 Q4 20 Q4 19 Q4 20 Q4 19 Q4 20 Q4 19 Q4 20 48.9% 52.8% 47.1% 44.9% 45.5% 42.7% 4
Slide 12: Cost and capex measures protected 2020 OCF
Cost and capex measures protected 2020 OCF Underlying OCF ($m) 1 67 1,497 1,466 119 155 2019 OCF Service revenue Cost Capex 2020 OCF 12 1) Non-IFRS measure. Please refer to the non-IFRS disclosures in this presentation for a description of non-IFRS measures. A reconciliation of non-IFRS measures to
Slide 13: Net financial obligations and leverage
Net financial obligations and leverage Reduced underlying net debt by $541m in 2020. 1,312 6,631 -541 5,860 184 389 210 32 5,319 157 Underlying Underlying Spectrum Disposals Payable FX & others Underlying Leases Underlying net debt* EFCF after to minority net debt* net financial YE 2019 leases* part
Slide 14: Debt Maturity Schedule
Debt Maturity Schedule Lowering our cost and extending our maturities** Underlying Q4 20 Average maturity 6.3 Years Average cost of debt 5.6% USD denominated debt Average maturity 7.0 Years Average cost of debt 5.2% 883 848 832 724 661 681 550 531 479 29s $750m 6.250% Cable Telecel Onda 26s (PY) 28s
Slide 15: 2021 Outlook
2021 Outlook • Investing in the business • Target at least Operational • Pandemic still ongoing Focus $1.4b of OCF1 • Prudent and flexible approach • No cash dividend • Prioritize net debt Shareholder • Buybacks may resume reduction Remuneration in H2 1) Underlying OCF. Non-IFRS measure. Please refe
Slide 16: Millicom - The Digital Lifestyle
tico MILLICOM THE DIGITAL LIFESTYLE
Millicom International Cellular — J.P. Morgan High Yield and GEM Conferences 2021 on 6ix