Millicom International Cellular SA (TIGO) revenue breakdown
By segment, Latin America is the largest at 95% of fiscal 2021 revenue, growing 3% a year over 5 years.
By product, Service revenue is the largest at 94% of fiscal 2025 revenue, growing 8% a year over 4 years.
Revenue by segment
Fiscal years, as Millicom International Cellular SA reports them in its 10-K filings; fiscal 2021 total $6.6B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | Share |
|---|---|---|---|---|---|---|---|
| Latin America | $5.4B | $5.4B | $5.5B | $6.0B | $5.8B | $6.2B | 95% |
| Africa | $565M | $386M | $399M | $382M | $366M | $357M | 5% |
Revenue by product
Fiscal years, as Millicom International Cellular SA reports them in its 10-K filings; fiscal 2025 total $5.8B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Service revenue | — | — | — | — | — | $4.0B | $5.2B | $5.2B | $5.4B | $5.5B | 94% |
| Telephone and equipment | $223M | $199M | $212M | $206M | $201M | $263M | $454M | $411M | $387M | $367M | 6% |
| Cable and other fixed services | $1.4B | $1.6B | $1.6B | $1.9B | $1.8B | — | — | — | — | — | — |
| Mobile | $2.3B | $2.1B | $2.1B | $2.1B | $1.8B | — | — | — | — | — | — |
| Other | $39M | $38M | $43M | $51M | $51M | — | — | — | — | — | — |
Revenue by region
Fiscal years, as Millicom International Cellular SA reports them in its 10-K filings; fiscal 2022 total $5.6B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | Share |
|---|---|---|---|---|---|---|---|
| Guatemala | — | — | — | — | — | $1.6B | 29% |
| Colombia | $1.7B | $1.7B | $1.7B | $1.5B | $1.3B | $1.3B | 24% |
| Panama | — | — | $17M | $475M | $585M | $650M | 12% |
| Bolivia | $542M | $555M | $614M | $639M | $584M | $621M | 11% |
| Paraguay | $623M | $662M | $679M | $610M | $544M | $556M | 10% |
| El Salvador | $425M | $422M | $405M | $386M | $389M | $474M | 8% |
| Nicaragua | — | $13M | $13M | $157M | $220M | $247M | 4% |
| Costa Rica | $152M | $153M | $155M | $153M | $140M | $137M | 2% |
| Other operations | $71M | $7M | $6M | $4M | $3M | — | — |
| Tanzania | $347M | $384M | $399M | $382M | — | — | — |
| Chad | $166M | — | — | — | — | — | — |
Questions
Where does Millicom International Cellular SA make its money?
In fiscal 2021, by segment: Latin America $6.2B, Africa $357M.
From Millicom International Cellular SA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.