Millicom International Cellular SA has announced its second quarter 2025 results, reporting a revenue of $1.37 billion, a decline of 5.9% compared to $1.458 billion in Q2 2024. The company achieved an operating profit of $357 million, reflecting an increase of 3.4% from the previous year's $345 million. Net profit surged significantly to $676 million, largely driven by approximately $590 million net profit from infrastructure transactions, compared to a net profit of $78 million in Q2 2024. The company reported a record adjusted EBITDA of $641 million, marking a 1.1% increase from $634 million in the same quarter last year. Equity free cash flow was strong at $218 million, despite an 18.8% decrease from the previous year's $268 million. Millicom continues to target an equity free cash flow of around $750 million for the full year 2025 and aims to maintain year-end leverage below 2.5x. These targets account for anticipated full-year run-rate savings from efficiency measures implemented in 2024 and reduced restructuring costs in 2025, though they exclude potential impacts from foreign exchange rate fluctuations and legal settlements. Significant business developments include the acquisition agreements for Telefónica's operations in Uruguay and Ecuador and the completion of a partial closing of an infrastructure transaction with SBA, generating over $500 million in proceeds. Reflecting these strategic milestones, Millicom's Board has approved a special interim dividend of $2.50 per share, to be distributed in two equal installments.