Income Statement

Revenue

+3%

+40%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	205	200	198	186	177	148	134	135	124	131	121	102	114	125	137	116	111	103	95	121	114	127	137	181	191	189	160	136	136	141	176	173	178	184	201	215	219	212	198	187	185	197	205	206	222	230	245	267	311	337	374	426	435	440	440	425	388	361	339	310	311	329	310	311	302	294	308	325	371	415	459	505	519	536	544	542	517	484	456	442	464	504	538	558	570	575	588	594	598	597	587	571	559	546	553	0
Revenue	620 N/A	604 -3%	601 -1%	605 +1%	605 0%	600 -1%	601 +0%	640 +7%	716 +12%	789 +10%	868 +10%	666 -23%	976 +47%	947 -3%	971 +3%	923 -5%	957 +4%	1 112 +16%	1 240 +11%	1 570 +27%	1 782 +13%	2 054 +15%	2 348 +14%	2 429 +3%	2 796 +15%	2 957 +6%	3 076 +4%	3 151 +2%	3 194 +1%	3 186 0%	3 290 +3%	3 373 +3%	3 548 +5%	3 759 +6%	3 873 +3%	3 920 +1%	4 047 +3%	4 190 +4%	4 323 +3%	4 530 +5%	4 617 +2%	4 678 +1%	4 726 +1%	4 136 -12%	4 037 -2%	3 924 -3%	4 015 +2%	4 390 +9%	5 101 +16%	5 481 +7%	5 866 +7%	6 386 +9%	6 652 +4%	6 870 +3%	6 796 -1%	6 572 -3%	5 929 -10%	5 260 -11%	4 690 -11%	4 043 -14%	4 013 -1%	4 017 +0%	4 009 0%	4 076 +2%	4 055 -1%	4 054 0%	4 022 -1%	3 946 -2%	4 005 +1%	4 059 +1%	4 166 +3%	4 336 +4%	4 389 +1%	4 305 -2%	4 234 -2%	4 171 -1%	4 083 -2%	4 114 +1%	4 094 0%	4 261 +4%	4 670 +10%	5 116 +10%	5 498 +7%	5 624 +2%	5 585 -1%	5 531 -1%	5 567 +1%	5 661 +2%	5 779 +2%	5 844 +1%	5 851 +0%	5 804 -1%	5 691 -2%	5 605 -2%	5 594 0%	5 819 +4%
Gross Profit
Cost of Revenue	(177)	(172)	(166)	(260)	(161)	(152)	(148)	(254)	(181)	(205)	(264)	(276)	(294)	(294)	(275)	(373)	(384)	(421)	(448)	(610)	(661)	(730)	(798)	(869)	(714)	(733)	(755)	(1 115)	(727)	(706)	(702)	(1 203)	(741)	(784)	(798)	(1 330)	(1 367)	(1 410)	(1 462)	(1 565)	(1 752)	(1 938)	(2 119)	(1 539)	(1 526)	(1 510)	(1 582)	(1 723)	(1 977)	(1 748)	(1 688)	(1 995)	(1 623)	(1 887)	(1 859)	(2 128)	(1 642)	(1 477)	(1 354)	(1 393)	(1 166)	(1 175)	(1 177)	(1 357)	(1 186)	(1 181)	(1 162)	(1 298)	(1 140)	(1 147)	(1 168)	(1 405)	(1 215)	(1 213)	(1 197)	(1 345)	(1 144)	(1 133)	(1 135)	(1 361)	(1 289)	(1 399)	(1 480)	(1 757)	(1 508)	(1 493)	(1 487)	(1 788)	(1 517)	(1 490)	(1 468)	(1 682)	(1 354)	(1 317)	(1 289)	(1 311)
Gross Profit	443 N/A	433 -2%	435 +1%	346 -20%	444 +28%	448 +1%	452 +1%	386 -15%	535 +39%	584 +9%	604 +3%	389 -36%	682 +75%	652 -4%	697 +7%	549 -21%	574 +4%	691 +20%	791 +15%	960 +21%	1 121 +17%	1 324 +18%	1 550 +17%	1 560 +1%	2 082 +33%	2 224 +7%	2 321 +4%	2 036 -12%	2 467 +21%	2 481 +1%	2 588 +4%	2 170 -16%	2 807 +29%	2 975 +6%	3 075 +3%	2 590 -16%	2 681 +4%	2 780 +4%	2 861 +3%	2 965 +4%	2 865 -3%	2 740 -4%	2 607 -5%	2 597 0%	2 511 -3%	2 414 -4%	2 433 +1%	2 667 +10%	3 124 +17%	3 733 +19%	4 178 +12%	4 391 +5%	5 029 +15%	4 983 -1%	4 937 -1%	4 444 -10%	4 287 -4%	3 783 -12%	3 336 -12%	2 650 -21%	2 847 +7%	2 842 0%	2 832 0%	2 719 -4%	2 869 +6%	2 873 +0%	2 860 0%	2 648 -7%	2 865 +8%	2 912 +2%	2 998 +3%	2 931 -2%	3 174 +8%	3 092 -3%	3 037 -2%	2 826 -7%	2 939 +4%	2 981 +1%	2 959 -1%	2 900 -2%	3 381 +17%	3 717 +10%	4 018 +8%	3 867 -4%	4 077 +5%	4 038 -1%	4 080 +1%	3 873 -5%	4 262 +10%	4 354 +2%	4 383 +1%	4 122 -6%	4 337 +5%	4 288 -1%	4 305 +0%	4 508 +5%
Operating Income
Operating Expenses	(338)	(325)	(320)	(312)	(299)	(289)	(276)	(224)	(314)	(343)	(344)	(214)	(412)	(412)	(471)	(275)	(271)	(325)	(363)	(520)	(592)	(733)	(877)	(930)	(1 342)	(1 450)	(1 548)	(1 218)	(1 633)	(1 652)	(1 721)	(1 319)	(1 890)	(1 974)	(2 047)	(1 548)	(1 592)	(1 672)	(1 701)	(1 708)	(1 624)	(1 513)	(1 436)	(1 758)	(1 790)	(1 823)	(1 910)	(2 055)	(2 363)	(2 897)	(3 298)	(3 467)	(4 107)	(4 051)	(4 003)	(3 547)	(3 961)	(3 606)	(2 903)	(2 261)	(2 487)	(2 458)	(2 426)	(2 255)	(2 364)	(2 319)	(2 269)	(2 224)	(2 377)	(2 501)	(2 620)	(2 500)	(2 808)	(2 731)	(2 733)	(2 576)	(2 710)	(2 739)	(2 659)	(2 486)	(2 772)	(2 945)	(3 188)	(2 980)	(3 242)	(3 251)	(3 285)	(3 092)	(3 347)	(3 292)	(3 234)	(2 784)	(3 034)	(2 889)	(2 816)	(2 971)
Selling, General & Administrative	(188)	(179)	(174)	(267)	(164)	(159)	(152)	(191)	(179)	(194)	(218)	(188)	(250)	(261)	(274)	(268)	(275)	(306)	(336)	(487)	(543)	(642)	(755)	(857)	(919)	(1 000)	(1 052)	(1 156)	(1 085)	(1 090)	(1 137)	(1 253)	(1 239)	(1 293)	(1 348)	(1 308)	(1 590)	(1 649)	(1 677)	(1 656)	(1 731)	(1 792)	(1 862)	(1 656)	(1 667)	(1 679)	(1 758)	(1 781)	(2 202)	0	0	(1 716)	0	0	0	(1 627)	0	0	0	(1 052)	0	0	0	(1 069)	0	0	0	(1 043)	0	0	0	(899)	0	0	0	(874)	0	0	0	(924)	0	0	0	(1 064)	0	0	0	(1 150)	0	0	0	(984)	0	0	0	0
Depreciation & Amortization	(149)	(147)	(146)	0	(135)	(129)	(124)	0	(135)	(149)	0	0	(151)	(134)	(184)	0	(117)	(137)	(142)	0	(179)	(219)	(247)	0	(372)	(398)	(434)	0	(499)	(525)	(567)	0	(651)	(681)	(702)	(169)	(528)	(550)	(554)	0	0	0	0	0	0	0	0	(142)	0	0	(308)	(1 158)	(985)	(1 312)	(1 317)	(1 281)	(1 160)	(1 053)	(961)	(853)	(852)	(845)	(835)	(841)	(831)	(821)	(806)	(802)	(859)	(927)	(1 001)	(1 100)	(1 140)	(1 173)	(1 208)	(1 208)	(1 216)	(1 177)	(1 120)	(1 123)	(1 148)	(1 225)	(1 319)	(1 346)	(1 338)	(1 324)	(1 319)	(1 339)	(1 342)	(1 319)	(1 282)	(1 236)	(1 200)	(1 192)	(1 208)	(1 280)
Other Operating Expenses	0	0	0	(45)	0	0	0	(33)	0	0	(126)	(26)	(12)	(18)	(13)	(8)	122	118	115	(34)	130	128	125	(73)	(51)	(52)	(61)	(61)	(50)	(37)	(17)	(66)	0	0	3	(72)	526	527	530	(52)	107	279	426	(102)	(123)	(144)	(152)	(132)	(161)	(2 897)	(2 990)	(593)	(3 122)	(2 739)	(2 686)	(639)	(2 801)	(2 553)	(1 942)	(356)	(1 635)	(1 613)	(1 591)	(345)	(1 533)	(1 498)	(1 463)	(379)	(1 518)	(1 574)	(1 619)	(501)	(1 668)	(1 558)	(1 525)	(494)	(1 494)	(1 562)	(1 539)	(439)	(1 624)	(1 720)	(1 869)	(570)	(1 904)	(1 927)	(1 966)	(603)	(2 004)	(1 973)	(1 952)	(564)	(1 834)	(1 697)	(1 608)	(1 691)
Operating Income	105 N/A	107 +2%	115 +7%	34 -71%	145 +332%	159 +10%	176 +11%	162 -8%	221 +36%	240 +9%	260 +8%	176 -33%	270 +54%	241 -11%	226 -6%	274 +21%	303 +10%	366 +21%	429 +17%	440 +3%	529 +20%	590 +12%	672 +14%	631 -6%	740 +17%	774 +5%	773 0%	818 +6%	833 +2%	829 0%	867 +5%	851 -2%	918 +8%	1 001 +9%	1 027 +3%	1 042 +1%	1 089 +5%	1 109 +2%	1 160 +5%	1 257 +8%	1 241 -1%	1 227 -1%	1 171 -5%	839 -28%	721 -14%	591 -18%	523 -12%	612 +17%	761 +24%	836 +10%	879 +5%	924 +5%	923 0%	933 +1%	934 +0%	897 -4%	326 -64%	177 -46%	433 +145%	389 -10%	360 -7%	384 +7%	406 +6%	464 +14%	505 +9%	554 +10%	591 +7%	424 -28%	488 +15%	411 -16%	378 -8%	431 +14%	366 -15%	361 -1%	304 -16%	250 -18%	229 -8%	242 +6%	300 +24%	414 +38%	609 +47%	772 +27%	830 +8%	887 +7%	835 -6%	787 -6%	795 +1%	781 -2%	915 +17%	1 062 +16%	1 149 +8%	1 338 +16%	1 303 -3%	1 399 +7%	1 489 +6%	1 537 +3%
Pre-Tax Income
Interest Income Expense	(195)	140	(202)	(505)	(299)	(524)	(193)	(13)	(44)	(118)	(109)	(102)	(117)	(128)	(126)	(104)	(80)	(76)	(61)	(84)	(67)	(63)	(67)	(121)	(111)	(115)	(123)	(147)	(165)	(182)	(186)	(159)	(167)	(166)	(191)	858	(204)	(197)	(182)	(182)	(241)	(256)	(269)	32	97	123	107	(170)	1 918	(328)	(251)	2 100	(2 538)	(454)	(619)	(521)	(366)	(162)	(52)	(196)	(203)	(305)	(290)	(245)	(228)	(240)	(282)	(328)	(360)	(317)	(460)	(163)	(316)	(340)	(238)	(443)	(214)	(261)	(228)	353	226	212	132	(587)	(584)	(567)	(535)	(494)	(503)	(511)	(505)	(504)	(475)	(489)	(444)	(398)
Non-Reccuring Items	(38)	(57)	(60)	89	(127)	(11)	(5)	2	65	(34)	(30)	(2)	(45)	(25)	(30)	1	24	16	24	8	(2)	(8)	(8)	0	(28)	(29)	(29)	0	(9)	(10)	(11)	0	(9)	(5)	1 058	0	1 066	1 062	5	0	0	0	0	(1)	0	0	0	(29)	0	0	0	0	0	0	0	(445)	0	0	(392)	(39)	0	(32)	(59)	(2)	(43)	(28)	(4)	58	(11)	(14)	(10)	(13)	(3)	0	0	(15)	(20)	(20)	(20)	5	0	0	0	(4)	0	(1)	(1)	2	0	0	0	(135)	0	519	657	741
Total Other Income	0	0	0	42	0	0	0	97	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10	0	0	0	0	0	0	0	0	5	(30)	(33)	(62)	(21)	(27)	3	(4)	28	137	81	2	63	(6)	(82)	(1)	(146)	2 213	2 319	12	2 353	(8)	(9)	(14)	(13)	(28)	(35)	(45)	(49)	(35)	(47)	(41)	(39)	(46)	(39)	(35)	(37)	(34)	(28)	(37)	(39)	(63)	(67)	(63)	(70)	(51)	(54)	(44)	(38)	(48)	(57)	(58)	(73)	(79)	(87)	(114)	(124)	(140)	(146)	(147)	(139)	(122)	(229)	(215)
Pre-Tax Income	(129) N/A	190 N/A	(148) N/A	(340) -130%	(281) +17%	(375) -34%	(22) +94%	248 N/A	242 -2%	89 -63%	121 +37%	72 -41%	108 +50%	88 -19%	70 -21%	171 +145%	247 +44%	306 +24%	392 +28%	364 -7%	460 +26%	520 +13%	597 +15%	520 -13%	601 +15%	631 +5%	622 -1%	671 +8%	659 -2%	638 -3%	670 +5%	692 +3%	746 +8%	799 +7%	1 862 +133%	1 838 -1%	1 929 +5%	1 947 +1%	986 -49%	1 071 +9%	1 028 -4%	1 108 +8%	983 -11%	872 -11%	881 +1%	708 -20%	548 -23%	412 -25%	2 533 +515%	2 721 +7%	2 947 +8%	3 036 +3%	738 -76%	471 -36%	307 -35%	(83) N/A	(53) +36%	(13) +75%	(46) -254%	109 N/A	108 -1%	12 -89%	10 -17%	176 +1 660%	195 +11%	240 +23%	266 +11%	119 -55%	80 -33%	46 -43%	(120) N/A	218 N/A	8 -96%	(42) N/A	(1) +98%	(271) -27 000%	(75) +72%	(90) -20%	(2) +98%	728 N/A	797 +9%	936 +17%	905 -3%	238 -74%	178 -25%	140 -21%	172 +23%	175 +2%	288 +65%	411 +43%	498 +21%	552 +11%	689 +25%	1 307 +90%	1 473 +13%	1 665 +13%
Net Income
Tax Provision	(9)	(11)	(26)	(23)	(27)	(27)	(32)	(53)	(59)	(68)	(74)	(44)	(54)	(51)	(52)	(69)	(82)	(91)	(102)	(118)	(140)	(158)	(163)	(84)	(79)	(102)	(97)	(269)	(270)	(253)	(281)	(188)	(213)	(231)	(234)	(227)	(243)	(236)	(10)	19	10	(18)	(245)	(360)	(327)	(294)	(287)	(144)	(175)	(189)	(165)	(256)	(224)	(249)	(257)	(278)	(274)	(233)	(222)	(179)	(187)	(177)	(193)	(158)	(148)	(143)	(100)	(112)	(98)	(87)	(135)	(120)	(86)	(127)	(78)	(102)	(138)	(106)	(119)	(158)	(206)	(251)	(292)	(222)	(212)	(215)	(223)	(424)	(435)	(432)	(437)	(281)	(282)	(306)	(325)	(303)
Income from Continuing Operations	(138)	180	(174)	(363)	(308)	(403)	(54)	195	183	21	47	28	54	36	18	102	164	215	290	247	320	362	433	437	521	529	525	402	389	384	389	504	534	569	1 628	1 611	1 686	1 711	976	1 090	1 038	1 090	738	512	554	414	261	268	2 358	2 532	2 782	2 780	514	222	50	(361)	(327)	(246)	(268)	(70)	(79)	(165)	(183)	18	47	97	166	7	(18)	(41)	(255)	98	(78)	(169)	(79)	(373)	(213)	(196)	(121)	570	591	685	613	16	(34)	(75)	(51)	(249)	(147)	(21)	61	271	407	1 001	1 148	1 362
Income to Minority Interest	(2)	(7)	(10)	(23)	(25)	(28)	(29)	(15)	(16)	(16)	(17)	(17)	(12)	(8)	2	6	5	5	(1)	9	18	23	27	(14)	(8)	12	27	113	114	114	96	47	30	6	3	(3)	(10)	(26)	(148)	(204)	(209)	(189)	(68)	4	20	29	31	24	(14)	(83)	(132)	(158)	(150)	(129)	(90)	(115)	(85)	(45)	(37)	58	56	73	86	17	12	(3)	(14)	16	11	13	31	(5)	33	29	22	41	33	37	29	48	28	38	53	48	72	80	84	163	150	124	98	(15)	(51)	(48)	(51)	(46)
Net Income (Common)	(139) N/A	173 N/A	(184) N/A	(323) -75%	(333) -3%	(431) -29%	(83) +81%	(50) +40%	167 N/A	6 -97%	31 +462%	189 +511%	41 -78%	32 -23%	(1) N/A	10 N/A	5 -55%	84 +1 735%	192 +127%	169 -12%	567 +236%	584 +3%	634 +9%	697 +10%	510 -27%	540 +6%	564 +4%	518 -8%	499 -4%	481 -4%	463 -4%	851 +84%	867 +2%	887 +2%	1 949 +120%	1 620 -17%	1 724 +6%	1 729 +0%	869 -50%	925 +6%	829 -10%	901 +9%	670 -26%	508 -24%	558 +10%	412 -26%	261 -37%	229 -12%	2 328 +917%	2 448 +5%	2 650 +8%	2 643 0%	353 -87%	68 -81%	(85) N/A	(559) -561%	(475) +15%	(334) +30%	(328) +2%	(32) +90%	(47) -47%	(116) -147%	(113) +3%	86 N/A	80 -7%	106 +33%	153 +44%	(10) N/A	(13) -30%	34 N/A	(164) N/A	149 N/A	13 -91%	(148) N/A	(69) +53%	(344) -399%	(180) +48%	(165) +8%	(109) +34%	590 N/A	571 -3%	800 +40%	763 -5%	177 -77%	157 -11%	6 -96%	38 +533%	(82) N/A	7 N/A	107 +1 429%	158 +48%	253 +60%	354 +40%	952 +169%	1 096 +15%	1 316 +20%
EPS (Diluted)	-2.13 N/A	2.61 N/A	-2.86 N/A	-4.94 -73%	-5.11 -3%	-6.26 -23%	-1.27 +80%	-0.77 +39%	2.09 N/A	0.06 -97%	0.34 +467%	2.09 +515%	0.41 -80%	0.33 -20%	0 N/A	0.1 N/A	0.04 -60%	0.83 +1 975%	1.88 +127%	1.66 -12%	5.26 +217%	5.4 +3%	5.81 +8%	6.45 +11%	4.7 -27%	4.98 +6%	5.1 +2%	4.75 -7%	4.59 -3%	4.38 -5%	4.25 -3%	7.81 +84%	7.96 +2%	8.13 +2%	17.93 +121%	14.94 -17%	16.27 +9%	16.45 +1%	8.37 -49%	8.86 +6%	8.14 -8%	8.89 +9%	6.67 -25%	5 -25%	5.59 +12%	4.12 -26%	2.61 -37%	2.29 -12%	23.28 +917%	24.21 +4%	26.5 +9%	26.43 0%	3.52 -87%	0.67 -81%	-0.84 N/A	-5.58 -564%	-4.73 +15%	-3.29 +30%	-3.27 +1%	-0.31 +91%	-0.46 -48%	-1.15 -150%	-1.12 +3%	0.85 N/A	0.79 -7%	1.05 +33%	1.5 +43%	-0.09 N/A	-0.12 -33%	0.33 N/A	-1.62 N/A	1.47 N/A	0.12 -92%	-1.46 N/A	-0.68 +53%	-3.39 -399%	-1.79 +47%	-1.27 +29%	-0.84 +34%	4.58 N/A	5.68 +24%	7.04 +24%	4.46 -37%	1.27 -72%	0.91 -28%	0.02 -98%	0.22 +1 000%	-0.47 N/A	0.02 N/A	0.61 +2 950%	0.93 +52%	1.48 +59%	2.09 +41%	5.66 +171%	6.53 +15%	7.85 +20%

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Millicom International Cellular SA
NASDAQ:TIGO

Income Statement

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Millicom International Cellular SA

Income Statement
Millicom International Cellular SA

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Millicom International Cellular SA NASDAQ:TIGO

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Income Statement Millicom International Cellular SA

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Millicom International Cellular SA
NASDAQ:TIGO

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Millicom International Cellular SA

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Millicom International Cellular SA