Millicom 1H 2026 Net Income Falls 84%, But Tigo-Colombia Revenues, EBITDA Rise
Luxembourg-based Millicom – formerly a part owner, but now 100% owner of Medellin-based cellphone/internet/cable TV operator Tigo-UNE – on August 6 reported an 84% year-on-year plunge in first half (1H) 2026 net income.
Net profit for Millicom’s controlling interests for 1H 2026 fell to US$218 million, versus US$869 million in 1H 2025, according to the company.
Having earlier this year bought-out both Tigo-UNE as well as Colombia’s “Movistar” telecom company – now putting Millicom roughly at par with Claro, whom together currently account for about 90% of the Colombian telecom market — Millicom can boast of being a major telecom player not only in Colombia but also in Guatemala, Panama, Honduras, Paraguay, El Salvador, Bolivia, Nicaragua, Costa Rica, Uruguay, Ecuador and Chile.
Having bought-out EPM’s former 50% interest in Tigo-UNE, buying-out Spain-based Telefonica’s former controlling interest in Movistar, and buying-out the Colombia government’s former “Coltel” telecom holdings in Movistar, Millicom now can show in its latest financial reports the revenue and earnings impacts of those acquisitions, comparing 1H 2026 to 1H 2025.
According to Millicom, those Colombian telecom marketshares — formerly held by EPM, Telefonica and the Colombian government – collectively accounted for about US$42 million in net losses for Millicom’s Colombian telecom operations for 1H 2026, compared to what amounted to a collective net profit of US$22 million in 1H 2025 as produced by those former entities.
On the other hand, the now-consolidated Tigo-Colombia operations (now 100% owned by Millicom) for 1H 2026 have produced revenues of US$848 million, up 26% from US$673 million in 1H 2025, when Millicom only owned half of Tigo-Colombia’s shares.
What’s more, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for Tigo-Colombia for 1H 2026 were US$336 million, up 24% compared to US$270 million in 1H 2025.
Meanwhile, following:the close of 1H 2026 financial results, Millicom revealed that “in July 2026, Coltel [the former Colombian government shareholding in Movistar, but now part of Millicom] repaid approximately $102 million of the outstanding credit facilities denominated in Colombian pesos and in U.S. dollars with Banco de Occidente, Bladex and J.P. Morgan.”
