Millicom - Jaarverslag.com

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Contents 2 Millicom at a glance 4 The Chairman’s and the Chief Executive’s review 6 Affordable 8 Accessible 10 Available 12 Review of cellular operations 12 Central America 14 South America 16 Africa 18 South Asia 20 South East Asia 22 Corporate and social responsibility report 23 Board of Directors 24 Directors’ report 27 Consolidated balance sheets 29 Consolidated statements of profit and loss 30 Consolidated statements of cash flows 31 Consolidated statements of changes in equity 32 Notes to the consolidated financial statements 75 Report of the independent auditors 76 Shareholder information Millicom provides affordable, widely accessible and readily available prepaid cellular telephony services to 8.9 million customers in 16 emerging markets.
Affordable Accessible Available Millicom International Cellular S.A. (“Millicom”) is a leading operator of cellular telephony services in emerging markets, where the basic telephone service is often inadequate and where economic development and rising personal income levels are creating increasing demand for communication services. Millicom has a 24-year operating history in emerging markets and today has operations in 16 countries in Latin America, Africa and Asia. Millicom’s proven prepaid, mass market distribution and perceived price leadership strategy have enabled it to continue to pursue high growth while delivering operating profitability. Millicom’s shares are listed on the Nasdaq Stock Market under the symbol MICC and on Stockholmsbörsen under the symbol MIC. Millicom Annual Report and Accounts 2005 1
Page 1: Millicom International Cellular S.A
Page 5 and 6: Senior Management Millicom worldwid
Page 7 and 8: The new Tigo brand has been a total
Page 9 and 10: Millicom Annual Report and Accounts
Page 15 and 16: Market structure Mario Zanotti Clus
Page 17 and 18: Market structure Ricardo Maiztegui
Page 19 and 20: Market structure Iain Williams Clus
Page 21 and 22: Market structure Won-Suck Song Clus
Page 23 and 24: Market structure Judy Tan Cluster G
Page 25 and 26: Board of Directors Michel Massart (
Page 27 and 28: The board of directors The Board ha
Page 29 and 30: Consolidated balance sheets As at D
Page 31 and 32: Consolidated statements of profit a
Page 33 and 34: Consolidated statements of changes
Page 35 and 36: 2 Summary of consolidation and acco
Page 45 and 46: 4 Acquisition of subsidiaries, join
Page 47 and 48: 5 Disposal of subsidiaries and join
Page 49 and 50: 7 Interest in joint ventures The Gr
Page 51 and 52: 9 Intangible assets The movements i
Page 53 and 54:
10 Property, plant and equipment Th
Page 55 and 56:
12 Discontinued operations and asse
Page 57 and 58:
14 Financial assets available for s
Page 59 and 60:
19 Other current assets Other curre
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23 Share capital continued Share op
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26 Borrowings Borrowings are compri
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26 Borrowings continued e) Other de
Page 67 and 68:
26 Borrowings continued g) Analysis
Page 69 and 70:
28 Impairment of assets continued I
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31 Taxes continued The tax effects
Page 73 and 74:
35 Commitment and contingencies The
Page 75 and 76:
36 Related party transactions conti
Page 77 and 78:
Report of the independent auditors
Page 79:
Designed and produced by 85four. Bo
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