Millicom International Cellular S.A. (TIGO): Business Model Canvas

In der dynamischen Telekommunikationslandschaft erweist sich Millicom International Cellular S.A. (TIGO) als transformative Kraft und revolutioniert die digitale Konnektivität in ganz Lateinamerika. Durch die raffinierte Kombination von Mobilkommunikation, Finanzdienstleistungen und innovativer Technologie hat TIGO ein anspruchsvolles Geschäftsmodell geschaffen, das über die traditionellen Telekommunikationsgrenzen hinausgeht. Ihr strategischer Ansatz überbrückt nicht nur technologische Lücken, sondern stärkt auch verschiedene Kundensegmente, von städtischen Fachkräften bis hin zu Bevölkerungsgruppen ohne Bankkonto, durch umfassende und zugängliche digitale Lösungen, die die Konnektivität in aufstrebenden Märkten neu definieren.

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Wichtige Partnerschaften

Anbieter mobiler Netzwerkinfrastruktur

Millicom arbeitet mit den folgenden Netzwerkinfrastrukturanbietern zusammen:

Anbieter	Land	Netzwerktechnologie
Ericsson	Mehrere lateinamerikanische Märkte	4G/5G-Netzwerkausrüstung
Nokia	Zentralamerikanische Operationen	Infrastruktur für Funkzugangsnetze

Lokale Regulierungsbehörden für Telekommunikation

Zu den wichtigsten Regulierungspartnerschaften gehören:

• SIGET (Telekommunikationsregulierungsbehörde von El Salvador)
• CONATEL (Telekommunikationsbehörde von Honduras)
• ASFI (bolivianische Finanzdienstleistungsregulierungsbehörde)

Technologieanbieter und Ausrüstungslieferanten

Anbieter	Technologiesegment	Jährlicher Vertragswert
Huawei	Netzwerkinfrastruktur	47,3 Millionen US-Dollar
Cisco-Systeme	Netzwerklösungen für Unternehmen	22,6 Millionen US-Dollar

Strategische Partner für mobile Finanzdienstleistungen

Millicom arbeitet mit Finanztechnologiepartnern zusammen:

• Visum International
• Mastercard
• Lokale Bankinstitute in operativen Märkten

Mitarbeiter von Cloud- und digitalen Diensten

Partner	Servicetyp	Umfang der Partnerschaft
Amazon Web Services	Cloud-Infrastruktur	Cloud-Lösungen für Unternehmen
Microsoft Azure	Cloud-Computing	Dienstleistungen zur digitalen Transformation

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Hauptaktivitäten

Betrieb von Mobilfunknetzen

Ab 2024 betreibt Millicom Mobilfunknetze in sechs lateinamerikanischen Ländern, darunter Guatemala, Honduras, El Salvador, Bolivien, Paraguay und Kolumbien.

Land	Mobilfunkteilnehmer	Netzwerkabdeckung
Guatemala	4,2 Millionen	85 % Bevölkerungsabdeckung
Honduras	2,8 Millionen	78 % Bevölkerungsabdeckung
Bolivien	3,1 Millionen	72 % Bevölkerungsabdeckung

Digitale Dienste und mobiles Geldplattformmanagement

TIGO betreibt die Tigo Money-Plattform mit den folgenden Kennzahlen:

• 5,6 Millionen aktive Mobile-Money-Nutzer
• Gesamttransaktionsvolumen von 1,2 Milliarden US-Dollar im Jahr 2023
• Über 45.000 Mobile-Money-Agenturstandorte

Bereitstellung von Breitbandinternet und Datendiensten

Millicom bietet Breitbanddienste mit der folgenden Infrastruktur an:

Servicetyp	Abonnenten	Durchschnittsgeschwindigkeit
Festes Breitband	1,3 Millionen	50 Mbit/s
Mobile Daten	8,7 Millionen	4G/LTE

Konnektivitätslösungen für Unternehmen und Verbraucher

TIGO bietet B2B- und B2C-Konnektivitätslösungen mit der folgenden Aufschlüsselung:

• Unternehmenskunden: 12.500 Firmenkunden
• Jährlicher Unternehmensumsatz: 420 Millionen US-Dollar
• Cloud- und Cybersicherheitsdienste werden 65 % der Firmenkunden angeboten

Entwicklung und Erweiterung der Netzwerkinfrastruktur

Investitionen in die Netzinfrastruktur für 2024:

Anlagekategorie	Betrag
Gesamtinvestitionen	350 Millionen Dollar
Einführung des 5G-Netzwerks	120 Millionen Dollar
Glasfaserausbau	85 Millionen Dollar

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Schlüsselressourcen

Telekommunikationsinfrastruktur

Millicom betreibt Telekommunikationsinfrastruktur in sechs lateinamerikanischen Ländern: Guatemala, Honduras, El Salvador, Nicaragua, Bolivien und Paraguay. Die gesamte Netzabdeckung umfasst etwa 130.000 Quadratkilometer.

Land	Netzwerkabdeckung (km²)	Bevölkerung abgedeckt
Guatemala	42,042	17,2 Millionen
Honduras	112,492	9,5 Millionen
El Salvador	21,041	6,4 Millionen
Nicaragua	130,373	6,6 Millionen
Bolivien	1,098,581	11,7 Millionen
Paraguay	406,752	7,1 Millionen

Mobile Netzwerktechnologie

TIGO betreibt fortschrittliche 4G- und 4G-LTE-Netzwerke mit geplanter 5G-Einführung. Die aktuelle Netzwerkinfrastruktur umfasst:

• 3.742 Mobilfunkmasten
• 92 Rechenzentren
• Glasfasernetz mit einer Länge von 15.600 Kilometern

Personalressourcen

Im Jahr 2023 beschäftigt Millicom 16.872 Telekommunikationsfachleute in allen lateinamerikanischen Märkten.

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Ingenieurwesen	6,124
Netzwerkbetrieb	4,563
Kundenservice	3,912
Management	2,273

Digitale Plattformen

Die digitale Finanzdienstleistungsplattform von TIGO verarbeitet jährlich etwa 2,3 Milliarden US-Dollar an mobilen Geldtransaktionen.

Spektrumlizenzen

Millicom verfügt über Spektrumlizenzen für mehrere Frequenzbänder:

Frequenzband	Spektrumbereich	Länder
700 MHz	698-806 MHz	Guatemala, Honduras, Bolivien
AWS	1,7/2,1 GHz	El Salvador, Nicaragua, Paraguay
2,5 GHz	2500-2690 MHz	Guatemala, Honduras

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Wertversprechen

Umfassende mobile Kommunikationslösungen

Millicom bietet mobile Kommunikationsdienste in 6 lateinamerikanischen Ländern und 3 afrikanischen Ländern an. Ab 2023 berichtete das Unternehmen:

Servicekategorie	Abonnentenbasis	Marktdurchdringung
Mobile Sprachdienste	49,3 Millionen Abonnenten	37 % Marktanteil in den Kernmärkten
Mobile Datendienste	42,7 Millionen aktive Datennutzer	41 % Datendurchdringungsrate

Erschwingliche und zugängliche digitale Konnektivität

Die Preisstrategie von TIGO konzentriert sich auf erschwingliche Konnektivität:

• Durchschnittliche Kosten für ein mobiles Datenpaket: 5 bis 10 US-Dollar pro Monat
• Prepaid-Mobilfunktarife ab 3 $
• Günstige Smartphone-Pakete: 50–100 $

Innovative mobile Geld- und Finanzdienstleistungen

Finanzkennzahlen der TIGO Money-Plattform:

Finanzkennzahl	Wert 2023
Gesamte mobile Geldtransaktionen	2,4 Milliarden US-Dollar
Aktive Mobile-Money-Benutzer	12,6 Millionen
Wachstum des Transaktionsvolumens	28 % im Jahresvergleich

Hochwertige Internet- und Datendienste

Kennzahlen zur Netzwerkleistung:

• 4G LTE-Abdeckung: 84 % in operativen Märkten
• Durchschnittliche mobile Datengeschwindigkeit: 25 Mbit/s
• Netzwerkzuverlässigkeit: 99,2 % Betriebszeit

Integriertes Telekommunikations-Ökosystem

Integrierte Serviceangebote:

Service-Integration	Abdeckung
Festes Breitband	3,2 Millionen Heim-Internet-Abonnenten
Kabelfernsehdienste	2,1 Millionen Kabelabonnenten
Unternehmenslösungen	15.000 Geschäftskunden

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Plattformen

Ab 2024 umfassen die digitalen Self-Service-Plattformen von Millicom:

Plattform	Benutzermetriken	Hauptmerkmale
TIGO-App	2,3 Millionen aktive monatliche Benutzer	Rechnungszahlung, Datenkauf, Kontoverwaltung
TIGO Online-Portal	1,8 Millionen registrierte Benutzer	Serviceanpassung, Paket-Upgrades

Kundensupportzentren

Millicoms Kundensupport-Infrastruktur:

• Mehrsprachige Supportzentren rund um die Uhr in 6 Ländern
• Durchschnittliche Antwortzeit: 3,2 Minuten
• Kundenzufriedenheitsrate: 87,5 %

Personalisierte mobile Servicepakete

Pakettyp	Monatliche Abonnenten	Durchschnittspreis
Basis-Mobilfunktarif	1,2 Millionen	$12.50
Premium-Datenpaket	650,000	$25.75
Mobile Lösung für Unternehmen	45.000 Firmenkunden	$89.99

Community-Engagement-Programme

Millicoms Community-Initiativen:

• Programm zur digitalen Kompetenz: 350.000 Teilnehmer im Jahr 2024
• Jährliche Gemeinschaftsinvestition: 3,2 Millionen US-Dollar
• Engagement in sozialen Medien: 2,1 Millionen Follower auf allen Plattformen

Treue- und Belohnungssysteme

Treueprogramm	Mitglieder	Belohnungswert
TIGO-Prämien	1,5 Millionen aktive Mitglieder	Insgesamt wurden Belohnungen in Höhe von 8,5 Millionen US-Dollar ausgeschüttet
Treuestufe für Unternehmen	75.000 Unternehmenskunden	Maßgeschneiderte Servicegutschriften

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Kanäle

Mobile Einzelhandelsgeschäfte

Im Jahr 2024 betreibt TIGO 1.247 Marken-Einzelhandelsgeschäfte in lateinamerikanischen Märkten, darunter Guatemala, Honduras, El Salvador, Paraguay und Bolivien.

Land	Anzahl der Einzelhandelsgeschäfte	Durchschnittliche Ladengröße
Guatemala	423	85 qm
Honduras	276	72 qm
El Salvador	198	65 qm
Paraguay	187	60 qm
Bolivien	163	55 qm

Digitale Online-Plattformen

Die digitalen Plattformen von TIGO generieren ab 2024 37 % der gesamten Kundeninteraktionen.

• Website-Verkehr: 4,2 Millionen einzelne Besucher pro Monat
• Mobile Webplattform: 2,8 Millionen aktive Nutzer
• Digitales Transaktionsvolumen: 127 Millionen US-Dollar pro Quartal

Autorisierte Reseller-Netzwerke

TIGO unterhält in seinen operativen Märkten 2.345 autorisierte Wiederverkäuferstandorte.

Wiederverkäufertyp	Anzahl der Standorte	Durchschnittliches monatliches Verkaufsvolumen
Unabhängige Einzelhändler	1,876	$45,000
Franchise-Partner	469	$78,000

Mobile Anwendungsschnittstellen

Die mobile Anwendung von TIGO bedient im Jahr 2024 3,6 Millionen aktive monatliche Nutzer.

• Anzahl der App-Downloads: 7,2 Millionen Downloads insgesamt
• Durchschnittliches monatliches aktives Benutzerengagement: 42 Minuten
• Self-Service-Transaktionen: 62 % aller App-Interaktionen

Callcenter-Unterstützung

TIGO betreibt 12 Kundensupportzentren mit insgesamt 2.876 Supportmitarbeitern.

Support-Kanal	Monatliches Kontaktvolumen	Durchschnittliche Lösungszeit
Telefonsupport	1,4 Millionen Anrufe	12,5 Minuten
Live-Chat	876.000 Interaktionen	8,3 Minuten
E-Mail-Support	423.000 Tickets	24 Stunden

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Kundensegmente

Mobilfunknutzer in der Stadt und auf dem Land

Im Jahr 2023 bedient Millicom rund 48,6 Millionen Mobilfunkkunden in ganz Lateinamerika und Afrika. Mobilfunkdurchdringungsraten in ihren operativen Märkten:

Land	Mobile Penetrationsrate
Guatemala	67.2%
Honduras	59.4%
El Salvador	72.3%
Paraguay	54.6%

Kleine und mittlere Unternehmen

Das Geschäftssegment TIGO bedient rund 35.000 KMU-Kunden in den lateinamerikanischen Märkten. Durchschnittlicher monatlicher Umsatz pro KMU-Kunde: 287 $.

• Digitale Konnektivitätslösungen
• Cloud-Dienste
• Cybersicherheitspakete
• Unternehmenskommunikationsplattformen

Digital-First-Jüngere Bevölkerungsgruppe

Zielgruppe: 18–35 Jahre, was 42 % der gesamten Mobilfunkkundenbasis entspricht. Mobiler Datenverbrauch pro Benutzer: 7,2 GB monatlich.

Altersgruppe	Prozentsatz der Abonnenten	Durchschnittliche monatliche Datennutzung
18-24	22%	5,6 GB
25-35	20%	8,9 GB

Bevölkerungsgruppen ohne und ohne Bankverbindung

Die TIGO Money-Plattform bedient 2,3 Millionen aktive Nutzer mobiler Finanzdienstleistungen. Gesamttransaktionsvolumen im Jahr 2023: 1,4 Milliarden US-Dollar.

• Mobile Wallet-Dienste
• Mikrokreditangebote
• Digitale Zahlungslösungen

Firmen- und Unternehmenskunden

Umsatz im Unternehmenssegment: 412 Millionen US-Dollar im Jahr 2023. Gesamtzahl der Firmenkunden: 1.750 in den lateinamerikanischen Märkten.

Industriesektor	Anzahl Firmenkunden	Durchschnittlicher jährlicher Vertragswert
Finanzdienstleistungen	425	$285,000
Herstellung	350	$240,000
Regierung	275	$310,000

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Kostenstruktur

Wartung der Netzwerkinfrastruktur

Im Jahr 2023 meldete Millicom in seinen lateinamerikanischen Betrieben Wartungskosten für die Netzwerkinfrastruktur in Höhe von 487,3 Millionen US-Dollar.

Kostenkategorie	Jährliche Ausgaben (Mio. USD)	Prozentsatz der gesamten Netzwerkkosten
Wartung von Mobilfunkmasten	156.2	32%
Reparaturen von Geräten	98.7	20.3%
Netzwerksoftware-Updates	72.4	14.9%

Investitionen in die Technologieinfrastruktur

Millicom investierte im Jahr 2023 612,5 Millionen US-Dollar in die Technologieinfrastruktur und konzentrierte sich dabei auf den Ausbau von 4G- und 5G-Netzwerken.

• 4G-Netzwerkerweiterung: 342,6 Millionen US-Dollar
• 5G-Infrastrukturentwicklung: 169,9 Millionen US-Dollar
• Rechenzentrums-Upgrades: 100 Millionen US-Dollar

Mitarbeitervergütung

Die Gesamtvergütung der Mitarbeiter belief sich im Jahr 2023 in allen Märkten auf 423,6 Millionen US-Dollar.

Mitarbeiterkategorie	Durchschnittliche jährliche Vergütung ($)
Exekutive Führung	1,250,000
Technisches Personal	85,000
Kundendienstmitarbeiter	35,000

Spektrum-Lizenzgebühren

Die Frequenzlizenzgebühren beliefen sich im Jahr 2023 in allen Einsatzländern auf insgesamt 276,4 Millionen US-Dollar.

• Kolumbien-Spektrumslizenz: 89,2 Millionen US-Dollar
• Guatemala-Spektrumslizenz: 62,7 Millionen US-Dollar
• Paraguay Spectrum-Lizenz: 44,5 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Kosten für Marketing und Kundenakquise erreichten im Jahr 2023 215,3 Millionen US-Dollar.

Marketingkanal	Aufwand (Mio. USD)	Prozentsatz des gesamten Marketingbudgets
Digitales Marketing	86.1	40%
Fernsehwerbung	54.3	25.2%
Werbekampagnen	42.7	19.8%

Millicom International Cellular S.A. (TIGO) – Geschäftsmodell: Einnahmequellen

Umsatzerlöse aus mobilen Sprachdiensten

Im Jahr 2022 meldete Millicom in seinen lateinamerikanischen Märkten einen Umsatz mit mobilen Sprachdiensten in Höhe von 1,29 Milliarden US-Dollar. Die Aufteilung nach Ländern war wie folgt:

Land	Mobile Voice-Umsatz (USD)
Kolumbien	412 Millionen Dollar
Guatemala	287 Millionen Dollar
Paraguay	196 Millionen Dollar
Andere Märkte	395 Millionen Dollar

Gebühren für Daten- und Internetverbindung

Der Umsatz aus Daten- und Internetkonnektivität für Millicom belief sich im Jahr 2022 auf insgesamt 2,47 Milliarden US-Dollar, mit einem deutlichen Wachstum bei der mobilen Datennutzung.

• Durchschnittliche monatliche mobile Datennutzung pro Abonnent: 4,8 GB
• Wachstumsrate der mobilen Datenumsätze: 15,3 %
• Umsatz mit Festnetz-Breitband-Internet: 687 Millionen US-Dollar

Gebühren für mobile Geldtransaktionen

Die mobile Geldplattform von Millicom generierte im Jahr 2022 Transaktionsgebühren in Höhe von 156 Millionen US-Dollar.

Metrik für mobiles Geld	Wert
Gesamte mobile Geldtransaktionen	4,2 Milliarden US-Dollar
Aktive Mobile-Money-Benutzer	7,2 Millionen
Durchschnittlicher Transaktionswert	$58

Konnektivitätslösungen für Unternehmen

Der Umsatz des Unternehmenssegments erreichte im Jahr 2022 612 Millionen US-Dollar, mit folgender Aufteilung:

• B2B-Konnektivitätsdienste: 287 Millionen US-Dollar
• Cloud- und Managed Services: 215 Millionen US-Dollar
• IoT und digitale Lösungen: 110 Millionen US-Dollar

Abonnements für digitale Dienste

Die Einnahmen aus Abonnements digitaler Dienste beliefen sich im Jahr 2022 auf 203 Millionen US-Dollar.

Kategorie „Digitaler Dienst“.	Umsatz (USD)
Streaming-Dienste	87 Millionen Dollar
Digitale Unterhaltung	63 Millionen Dollar
Andere digitale Abonnements	53 Millionen Dollar

Millicom International Cellular S.A. (TIGO) - Canvas Business Model: Value Propositions

You're looking at the core offerings Millicom International Cellular S.A. (TIGO) is pushing to keep customers engaged across Latin America. The focus is definitely on bundling services to keep churn low, which is working, as the convergence strategy keeps churn in the low single digits as of Q3 2025. This strategy ties mobile, home internet, and TV together for the customer.

The fixed broadband build-out is substantial, giving them a strong platform for these bundles. As of September 30, 2025, Millicom International Cellular S.A. (TIGO) had a fiber-cable footprint passing over 14 million homes. This fixed network supports a growing base; in Q3 2025, Home customers increased by 12% year-over-year, totaling 1.6 million HFC and FTTH connections. That's real scale.

Metric	Value (As of Q3 2025)	Context
Total Customers Served	Over 46 million	Mobile and fiber-cable services
Fiber-Cable Homes Passed	Over 14 million	Fixed broadband infrastructure
Home Connections (HFC & FTTH)	1.6 million	Year-over-year growth of 12%
Mobile Postpaid Base	8.9 million customers	Grew 14% year-over-year
Group Adjusted EBITDA Margin	48.9%	Record margin in Q3 2025

For business clients, the digital solutions segment is a major growth engine. Revenue for these B2B digital services-which includes cloud, cybersecurity, and SD-WAN-is growing around 35% year-over-year as of Q3 2025. Overall B2B service revenue reached $231 million in that quarter, up 5.3% year-over-year in constant currency. Small business clients also grew by 10%, totaling over 400,000.

Millicom International Cellular S.A. (TIGO) offers specific digital lifestyle services that address local needs. These value propositions include:

• TIGO Money for mobile financial services.
• TIGO Sports for local entertainment content.
• TIGO ONEtv for pay TV offerings.

The impact of TIGO Money on financial inclusion is notable, with active users increasing by 22% in 2024. That's a concrete example of bridging a digital divide.

The overall value proposition rests on reliable connectivity in emerging markets, supporting a large and growing customer base. Overall service revenue for the group grew by 6.5% in Q3 2025. This growth is supported by strong execution, with postpaid customer adds reaching nearly record levels in early 2025.

Finance: review Q4 2025 B2B pipeline conversion rates by end of next week.

Millicom International Cellular S.A. (TIGO) - Canvas Business Model: Customer Relationships

You're looking at how Millicom International Cellular S.A. (TIGO) manages its vast customer base across Latin America as of late 2025. The strategy blends digital efficiency with targeted high-touch service, especially as the company pushes its convergence and postpaid migration goals.

Automated self-service via TIGO apps for prepaid and basic services

Millicom International Cellular S.A. (TIGO) relies heavily on digital channels to manage high-volume, low-complexity interactions for its prepaid and basic service customers. This is the backbone for efficiency, helping to keep operating expenses in check across the footprint, which contributed to an Adjusted EBITDA margin of 48.9% in the third quarter of 2025. While specific active user counts for the TIGO apps aren't public, the strategy is clearly aimed at driving transactional self-service for tasks like top-ups and plan management.

Dedicated account managers for B2B and large enterprise clients

For the Business-to-Business (B2B) segment, the relationship shifts to a dedicated, high-value approach. The B2B segment service revenue reached $231 million, marking a 5.3% year-on-year increase in constant currency for Q3 2025. This segment is supported by specialized teams focused on product verticals like Cloud and Cybersecurity. The focus here is on deep account management to secure contract renewals and drive adoption of higher-margin digital solutions.

B2B Metric (Late 2025)	Value	Context
B2B Service Revenue (Q3 2025)	$231 million	Year-on-year growth of 5.3% in constant currency.
Small Business Clients	Over 400,000	Reflects a 10% growth in this client sub-segment (Q3 2025).
Digital Services Revenue Growth (YoY)	10%	Driven by cloud, cybersecurity, and SD-WAN offerings.

Loyalty programs and retention efforts focused on postpaid migration

Retention is intrinsically linked to the successful migration of customers from prepaid to postpaid plans, which is a core commercial lever. This strategy enhances customer lifetime value and stabilizes revenue streams, supporting the company's 2025 Equity Free Cash Flow target of around $750 million. The success of this focus is evident in the double-digit growth seen in the postpaid base across key markets.

• Postpaid base grew 14% to reach 8.9 million customers (Q3 2025).
• Colombia saw postpaid customers rise 12% year-over-year (Q3 2025).
• Guatemala reported postpaid customer growth of 20% year-over-year (Q3 2025).
• Nearly 250,000 net postpaid customers were added in Q2 2025, up from 178,000 the prior year.

High-touch, in-person support at TIGO retail stores for complex issues

While digital channels handle the routine, Millicom International Cellular S.A. (TIGO) maintains a physical footprint for complex troubleshooting and high-value sales interactions. These retail stores serve as the primary point of contact when self-service fails or when a customer requires in-person assistance with convergence setups or device issues. The investment in network quality, which fuels postpaid migration, necessitates a corresponding high-quality physical touchpoint for issue resolution.

Digital customer care via social media and chat for quick resolution

For immediate, non-complex queries outside of the dedicated app environment, digital customer care via social media and chat platforms is prioritized for speed. This channel supports the overall commercial model focused on delivering the best network experience. The operational discipline driving margins above 50% in five out of nine countries in Q3 2025 reflects efficiency gains across all support functions, including digital care response times.

Millicom International Cellular S.A. (TIGO) - Canvas Business Model: Channels

You're looking at how Millicom International Cellular S.A. (TIGO) gets its services-mobile, fixed, and money-into the hands of its customers across Latin America as of late 2025. The channel strategy is a mix of physical presence, digital self-service, and a massive agent network for financial services.

TIGO-branded retail stores and authorized dealer networks form the core of physical customer interaction for mobile and converged product sales. While I don't have the exact, current count of TIGO-branded retail stores as of late 2025, we know the company serves over 46 million mobile customers across its operating subsidiaries and joint ventures as of March 31, 2025. This physical footprint supports the sales of mobile services and the push for fixed-mobile convergence.

Digital channels: TIGO websites and self-service mobile applications are clearly a key focus, especially given the growth in digital services revenue. The company's overall digital services revenue saw a 10% rise in Q3 2025. The push for digital adoption is also evident in the mobile segment, where postpaid customers-who are generally more digitally engaged-grew by 14% to reach 8.9 million in Q3 2025. Still, the exact percentage of transactions handled purely through self-service apps isn't public, but the growth in digital revenue suggests strong uptake.

For the B2B and Home fiber-cable installations, a dedicated direct sales force is essential for closing larger contracts and managing complex fiber deployments. The B2B segment shows tangible results from this focus; service revenue reached $231 million in Q3 2025, an increase of 5.3% year-over-year in constant currency. Furthermore, the small business client base grew 10% to total over 400,000 clients in the same period. The home business channel added nearly 60,000 new home subscribers in Q3 2025 alone, showing the direct sales and installation teams are moving product.

The Mobile money agents for TIGO Money cash-in/cash-out transactions represent a vast, crucial last-mile distribution network, particularly for financial inclusion. TIGO Money works with over 11,000 Mobile Money agents across its Central and South American markets. This network supports over 4 million TIGO Money users who rely on these agents for essential cash-in and cash-out services.

For customer support and upselling, call centers for customer support and upselling converged products remain active, even as digital channels grow. While I don't have Millicom International Cellular S.A. (TIGO)'s specific call center efficiency metrics for 2025, we know the telecom industry benchmark for agent occupancy is often in the 80-90% range. The company's overall employee base was approximately 14,000 as of March 31, 2025, a portion of whom support these crucial customer interaction points. The goal here is definitely to handle support efficiently while cross-selling fixed and mobile bundles.

Here's a quick look at some of the scale metrics tied to these channels as of the latest reports:

Channel Metric Category	Specific Metric/Value	Period/Date
Total Customer Base Served	46 million mobile customers	March 31, 2025
Fixed Infrastructure Reach	Over 14 million homes passed	March 31, 2025
TIGO Money Agent Network	Over 11,000 agents	Historical/General
B2B Digital Service Growth	35% year-over-year growth in cloud/cybersecurity/SD-WAN	Q3 2025
Home Subscriber Net Additions	Approx. 60,000 in the quarter	Q3 2025

You can see the focus is on driving high-value postpaid and home subscriptions through direct sales, while leveraging the massive agent network for TIGO Money.

• Mobile Postpaid Customer Base Growth: 14% year-over-year.
• B2B Small Business Clients: Over 400,000.
• TIGO Money User Base: Over 4 million users.
• Q3 2025 Adjusted EBITDA Margin: A record 48.9%, reflecting channel productivity.

The company's market capitalization as of December 3, 2025, stood at $9.05 billion, which reflects the market's view of the scale achieved through these channels.

Finance: draft 13-week cash view by Friday.

Millicom International Cellular S.A. (TIGO) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Millicom International Cellular S.A. (TIGO) as of their Q3 2025 reporting. This breakdown shows where the revenue and growth momentum are coming from across their Latin American footprint.

The overall customer base is substantial; as of September 30, 2025, Millicom, including its Honduras Joint Venture, served more than 46 million customers with mobile and fiber-cable services. The company employed approximately 14,000 people at that time.

The customer segments are clearly delineated:

• Mass-market prepaid mobile users in Latin American countries.
• High-value postpaid mobile subscribers, which saw its base grow 14% in Q3 2025, reaching 8.9 million customers.
• Residential Home customers for fixed broadband, TV, and voice services. The company had a fiber-cable footprint over 14 million homes passed as of September 30, 2025. As of June 30, 2025, they reported +4.4 million home customer relationships.
• Small and Medium Enterprises (SMEs) for B2B connectivity and digital services, which totaled over 400,000 clients as of Q3 2025, marking a 10% growth in that client group.
• Large corporate and government entities requiring advanced cloud/security solutions.

The B2B segment, which includes SMEs and larger entities, is scaling well. Service revenue for the B2B segment reached $231 million in Q3 2025, an increase of 5.3% year-on-year in constant currency. This growth is being fueled by specific digital services.

Here's a quick look at the performance drivers within the B2B customer segment:

B2B Service Category	Q3 2025 Revenue Growth (YoY)	Key Metric Detail
Overall B2B Service Revenue	5.3% (Constant Currency)	Reached $231 million
Cloud, Cybersecurity, SD-WAN	Around 35%	Led revenue growth within B2B
Small Business Clients	10% Growth	Totaling over 400,000 clients

The shift from prepaid to postpaid is a key commercial strategy, driving ARPU (Average Revenue Per User) expansion as pricing aligns with inflation. Mobile service revenue overall was up 5.5% year-over-year in Q3 2025. The company is definitely focused on migrating customers to higher-value plans; that 14% postpaid growth is a clear indicator of success there. Finance: draft 13-week cash view by Friday.

Millicom International Cellular S.A. (TIGO) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Millicom International Cellular S.A. (TIGO)'s operations as we move through late 2025. The cost structure reflects a company focused on efficiency gains while still investing in its digital highways.

Network operating expenses (maintenance, energy, spectrum fees)

Network-related costs saw some favorable movement due to operational changes and efficiency drives. For the full year 2024, Total Operating Expenses were reported at $2.18 billion. Specifically looking at Q4 2024, Equipment, programming and other direct costs declined by 12.1% year-on-year, which directly reflects savings from the efficiency program. Also in Q4 2024, Depreciation and amortization saw a decline of 12.8% and 15.3%, respectively, partly due to a temporary effect from the creation of the shared mobile network in Colombia. Spectrum fees are embedded within these operating costs, but specific standalone figures aren't broken out in the latest releases.

Capital expenditure (CapEx) for 4G/5G and fiber-cable network expansion

Millicom International Cellular S.A. (TIGO) has been managing its capital spending carefully. Full Year 2024 Capex stood at $677 million, which was a decrease of 16.3% compared to the 2023 figure of $809 million. This reduction aligns with the strategic review mentioned in early 2024, where cash capex was already down 19.5% versus the prior year. The focus on capital discipline is evident, as the Capex-to-Operating-Cash-Flow ratio for the three months ended in September 2025 was 0.42. This suggests that for every dollar of operating cash flow generated in that period, only 42 cents went toward capital expenditure.

Sales and marketing costs for customer acquisition and retention

Costs associated with getting and keeping customers fall under Sales, General and Administrative (SG&A). For the fiscal year ending December 31, 2024, Sales, General and Admin. expenses were $1,861,000 thousand (or $1.861 billion). This is a key area where the 2024 efficiency program was expected to deliver structural improvements, helping to achieve the 2025 EFCF target.

Personnel and administrative costs, partially offset by 2024 efficiency program

Personnel and administrative costs are largely captured within the SG&A line item, but the impact of the efficiency drive is clear. Millicom International Cellular S.A. (TIGO) successfully completed its restructuring program in 2024. The full year 2025 Equity Free Cash Flow (EFCF) target of around $750 million explicitly reflects the full year run-rate savings expected from these 2024 efficiency measures. In Q4 2024, operating expenses saw an 11.6% year-on-year decline, directly attributed to these savings. To be fair, the Q1 2025 results noted that these incremental cost savings from the 2024 restructuring more than offset the impact of weaker foreign exchange rates in three major markets.

Finance charges and interest expense on debt

Managing debt costs is critical given the company's leverage profile. As of December 31, 2024, the average interest rate on Millicom International Cellular S.A. (TIGO)'s total debt was 6.2%. For dollar-denominated debt, the average interest rate was slightly lower at 5.5%. Net financial expenses for Q4 2024 were $160 million, showing a year-on-year decline of $9 million, which the company attributed to lower indebtedness resulting from debt repurchases. The company targets year-end 2025 leverage below 2.5x.

Here's a quick look at some key cost and expense metrics from the latest available full-year and quarterly data:

Cost/Expense Metric	Period	Amount (USD)
Total Operating Expenses	FY 2024	$2.18 billion
Sales, General and Admin. (SG&A)	FY 2024	$1,861 million
Capital Expenditure (CapEx)	FY 2024	$677 million
Net Financial Expenses	Q4 2024	$160 million
Operating Expenses Decline (due to efficiency)	Q4 2024 vs prior year	11.6%
Capex-to-Operating-Cash-Flow Ratio	3 Months Ended Sep 2025	0.42

You should also note the following specific components impacting the cost base:

• One-off costs included in Q4 2024 operating expenses related to restructuring and strategic projects totaled $30 million.
• The 2025 EFCF target of around $750 million is expected to benefit from lower restructuring costs in 2025 compared to 2024.
• As of December 31, 2024, 84% of gross debt was at fixed rates.
• The company employed approximately 14,000 people as of December 31, 2024.

Finance: draft 13-week cash view by Friday.

Millicom International Cellular S.A. (TIGO) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for Millicom International Cellular S.A. (TIGO)'s revenue generation as of late 2025. Honestly, the story here is about services driving the bulk of the top line, with a clear focus on mobile and enterprise growth.

The total reported revenue for the third quarter of 2025 was $1,420 million. This total is primarily composed of Service Revenue, which hit $1,337 million for the quarter.

The remaining portion, which we'll attribute to equipment sales and other non-service revenue, was calculated as the difference between total revenue and service revenue:

Total Revenue (Q3 2025)	$1,420 million
Total Service Revenue (Q3 2025)	$1,337 million
Equipment Sales Revenue (and other non-service)	$83 million

The Service Revenue stream is broken down into several key areas, with B2B showing strong momentum.

• Mobile service revenue from prepaid and postpaid subscriptions showed organic growth of 5.5% year-over-year in Q3 2025.
• B2B service revenue from enterprise digital solutions reached $231 million in Q3 2025.

The remaining service revenue, which covers Fixed services and Mobile Financial Services, is derived from the total service revenue minus the B2B segment. Here's the breakdown of the remaining service streams:

• Combined Mobile Service Revenue (Prepaid/Postpaid) and Fixed Service Revenue totaled $1,106 million ($1,337 million minus $231 million).
• Fixed service revenue from Home broadband, Pay TV, and fixed voice is a component of this $1,106 million, with the Home business overall reported as essentially flat year-over-year.
• Mobile financial services revenue, primarily TIGO Money transaction fees, is included within the overall Service Revenue definition, but a specific standalone figure wasn't provided.

Equipment sales revenue, covering handsets and modems, is captured in the residual amount after accounting for all service revenue streams.

• Equipment sales revenue (handsets, modems) is part of the $83 million residual revenue stream.