The Swedish telecoms giant led growth in Latin America this quarter and in 2013.
Swedish multinational Millicom, the company behind telecom-provider Tigo, and several cable and internet companies is the growth leader in our latest Multinational Index. The index measures 25 companies in the region in diverse industries, identifying growth trends in the region.
Millicom saw fourth quarter revenues up 6.3 percent, the leader for the quarter. Annual profits were also up 7.6 percent – the second highest among the companies in our index, only behind Groupe Casino. Millicom has seen increased activity in its main markets – Central America, Bolivia, Colombia, and Paraguay, and is increasingly exploring new activities such as cable and e-commerce. Groupe Casino saw its revenues grow as a result of acquisitions in the region, largely in Brazil.
Energy companies performed less well this quarter and year overall. U.S. energy giant AES saw revenues fall 20.4 percent, and 8.9 percent for the year. Spain’s Endesa and Iberdrola also saw revenues fall over the year.
The largest declines continued to come from Finland’s Nokia – down 29.7 percent from the same quarter last year and 20.7 percent for the year. NII Holdings – the company behind Nextel – also continued to see major declines: revenues plummeted 21.8 percent from last year, and were down 16.9 percent for the year.
Latin MNC Index (2013)
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