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Jun 30
Millicom Q2 2025 Earnings Report
Millicom delivered strong Q2 2025 results.
Key Takeaways
Millicom reported Q2 2025 revenue of $1.372 billion, net income of $676 million including $590 million from infrastructure transactions, adjusted EBITDA of $641 million (46.7% margin), and equity free cash flow of $218 million, with net leverage down to 2.18x.
Revenue of $1.372 billion, down 5.9% year-on-year due to FX headwinds.
Net income of $676 million, including $590 million net from infrastructure transactions.
Adjusted EBITDA of $641 million, 46.7% margin, a record quarterly level.
Equity free cash flow of $218 million; net leverage improved to 2.18x.
Millicom
Millicom
Forward Guidance
Millicom targeted full-year 2025 equity free cash flow of around $750 million and year-end net leverage below 2.5x.