Millicom International Cellular, Inc. – which operates in Latin America under the brand Tigo – reported a drop in fourth-quarter net revenues to USD 155 million from USD 188 million a year earlier. The profit margin is as a result of acquisitions in the region and investments in the data network. Still total revenues increased to USD 1.27 billion from USD 1.18 billion a year ago, helped by the acquisition of Cablevision in Paraguay. Revenues were up 6.4 percent year-on-year excluding currency effects and the Cablevision acquisition.

Millicom expects a smaller drop in the margin this year, and the figure should remain over 40 percent, while capex should peak at around 20 percent of sales. The company said it’s increasing its focus on costs and capex avoidance to adjust to the slowing growth in voice revenues.

The focus for 2013 will be on growing revenues from mobile data , m-payment services, cable-TV and the online activities with Rocket Internet.

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