operational data historical financial information q1 2012

7/31/2019 Operational Data Historical Financial Information Q1 2012

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IndexGroup P&L p 2-3

Cash Flow Statement p 4-5

Balance Sheet p 6-7

Revenues p 8

EBITDA p 9

Capex p 10

Central America p 11

South America p 12

Africa p 13

FX rates p 14

Contact us

Head of Investor Relations Justine DIMOVIC [email protected]

Tel (F): 00 352 27 759 479

Tel (M): 00 352 691 750 479

Investor Relations Manager Emily HUNT [email protected]

Tel (F): 00 44 207 321 5027

Tel (M): 00 44 77 79 018 539
mailto:[email protected]:[email protected]:[email protected]:[email protected]


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Group P&L Q1 2010(i)

Q2 2010(i)

Q3 2010 Q4 2010 FY 2010

Not reviewed by auditorsRevenues 954 977 1,018 1,069 4,018

Operating expenses

Cost of sales (excluding depreciation and amortization) -198 -204 -203 -219 -824

Sales and marketing -176 -175 -193 -210 -754

General and administrative expenses -129 -134 -141 -144 -548

Other operating income 0 0 3 0 4

EBITDA 451 464 484 497 1,896

Corporate costs -17 -22 -36 -30 -106

Gain (loss) on disposal/Write down of assets, net -3 2 2 -18 -16

Depreciat ion and amortization -172 -168 -184 -167 -691Operating profit 259 276 266 281 1,083

Interest expense -45 -49 -62 -63 -218

Interest and other financial income 2 3 3 6 15

Revaluation of previously held interest 1,060 0 1,060

Other non-operating income (expenses), net 5 -35 -83 50 -64

Profit before taxes from continuing operations 221 195 1,184 275 1,875

Taxes -66 -64 -60 -52 -242

Profit before discontinued operations and non-controlling interest 155 131 1,125 222 1,633

Result from discontinued operations 3 3 3 3 12

Non-controlling interest -3 0 -3 -19 -25Net profit for the period 156 134 1,124 206 1,620

Basic earnings per common share (US$) 1.43 1.23 10.37 1.93 14.95

Weighted average number of shares

outstanding in the period (000) 108,678 108,759 108,475 106,902 108,219

Profit for the period used to determine diluted earnings per common share 156 134 1,124 206 1,620

Diluted earnings per common share (US$) 1.43 1.23 10.35 1.92 14.93

Weighted average number of shares and potential

dilutive shares outstanding in the period (000) 108,869 109,040 108,666 107,046 108,396

(i): Restated for the full consolidation of Honduras

Normalized Net Profit 151 169 149 168 637

Normalized EPS 1.39 1.55 1.37 1.57 5.88


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Group P&L

Not reviewed by auditorsRevenues

Operating expenses

Cost of sales (excluding depreciation and amortization)

Sales and marketing

General and administrative expenses

Other operating income

EBITDA

Corporate costs

Gain (loss) on disposal/Write down of assets, net

Depreciation and amortizationOperating profit

Interest expense

Interest and other financial income

Revaluation of previously held interest

Other non-operating income (expenses), net

Profit before taxes from continuing operations

Taxes

Profit before discontinued operations and non-controlling interest

Result from discontinued operations

Non-controlling interestNet profit for the period

Basic earnings per common share (US$)

Weighted average number of shares

outstanding in the period (000)

Profit for the period used to determine diluted earnings per common share

Diluted earnings per common share (US$)

Weighted average number of shares and potential

dilutive shares outstanding in the period (000)

(i): Restated for the full consolidation of Honduras

Normalized Net Profit

Normalized EPS

Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012

1,081 1,120 1,151 1,177 4,529 1,168

-234 -246 -256 -270 -1,007 -272

-194 -206 -206 -210 -816 -211

-144 -155 -166 -168 -633 -170

0 1 6 7 14 2

509 513 529 536 2,087 517

-22 -30 -26 -35 -113 -27

1 -1 5 17 22 1

-178 -189 -187 -185 -739 -196311 293 321 333 1,257 295

-49 -42 -48 -48 -187 -47

4 3 5 3 15 4

0 0 0 0 0

45 -39 26 -45 -14 -52

311 214 304 243 1,072 200

-82 -57 166 -9 18 -91

229 157 470 234 1,090 109

39 0 0 0 39 0

-9 -17 -125 -54 -205 -14259 140 345 180 924 95

2.45 1.33 3.32 1.77 8.88 0.93

105,825 104,985 103,739 102,174 104,197 101,669

259 140 345 180 925 98

2.45 1.33 3.32 1.76 8.87 0.93

105,943 105,089 103,837 102,271 104,301 101,767

183 187 210 188 722 159

1.73 1.78 2.02 1.83 7.36 1.56


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Cash Flow Statement Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010

Not reviewed by auditors

EBITDA 424 436 484 497 1,841Movements in working capital -48 17 -36 68 1

Capex (net of disposals) -103 -117 -153 -214 -587

Taxes paid -38 -110 -51 -41 -239

Operating Free Cash Flow 234 227 245 310 1,016

Corporate costs (excluding share based compensation) -14 -19 -16 -25 -75

Interest paid, net -20 -53 -26 -57 -156

Free Cash Flow 200 155 203 227 785

Other investing activities -14 61 10 2 59

Cash flow from operating and investing 186 216 213 229 844

Cash flow used in financing -171 -513 212 -863 -1,335

Cash from discontinued operations 0 0 0 0 0

Cash effect of exchange rate changes 4 -6 7 -3 3

Net decrease/increase in cash and cash equivalents 20 -303 431 -637 -488

Cash and cash equivalents, beginning 1,511 1,531 1,229 1,660 1,511

Cash and cash equivalents, ending 1,531 1,229 1,660 1,023 1,023


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Cash Flow Statement


EBITDAMovements in working capital

Capex (net of disposals)

Taxes paid

Operating Free Cash Flow

Corporate costs (excluding share based compensation)

Interest paid, net

Free Cash Flow

Other investing activities

Cash flow from operating and investing

Cash flow used in financing

Cash from discontinued operations

Cash effect of exchange rate changes

Net decrease/increase in cash and cash equivalents

Cash and cash equivalents, beginning

Cash and cash equivalents, ending

Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012

509 513 529 536 2,087 517-67 24 18 40 15 -38

-137 -147 -120 -227 -630 -131

-56 -122 -41 -49 -268 -38

249 268 387 300 1,204 310

-18 -26 -21 -30 -96 -22

-39 -27 -37 -22 -126 -44

191 215 328 248 982 244

-5 13 -28 -24 -43 8

186 228 300 224 939 252

-45 -443 -317 -302 -1,107 -22

53 0 0 0 53 0

2 0 -13 -16 -27 6

197 -216 -31 -93 -142 236

1,023 1,221 1,005 974 1,023 881

1,221 1,005 974 881 881 1,117


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Balance Sheet Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012


Assets

Non current assets

Intangible assets, net - Total 1,043 1,025 2,272 2,283 2,283 2,232 2,200 2,163 2,170 2,170 2,168

Property, plant and equipment, net - NBV - Total 2,674 2,606 2,786 2,767 2,767 2,794 2,798 2,692 2,865 2,865 2,880

Investment in associates 1 9 12 18 18 19 20 42 63 63 80

Pledge deposits (non-current) 51 47 52 50 50 53 54 51 50 50 53

Deferred taxation assets (non-current) 23 23 22 24 24 27 31 264 317 317 336

Other non current assets 9 10 12 18 18 30 33 33 37 37 34

Total non-current assets 3,801 3,720 5,157 5,160 5,160 5,155 5,135 5,245 5,502 5,502 5,551

Current assets

Inventories 51 57 55 62 62 56 58 63 75 75 73

Trade receivables, net 227 220 252 253 253 250 263 268 277 277 293

Amounts due from non controlling interests and JV 92 35 68 107 107 129 151 47 159 159 61

Current tax assets 22 104 120 11 11 134 135 127 24 24 40

Other current assets 262 150 155 194 194 129 149 206 298 298 294

Cash and cash equivalents - Total 1,531 1,229 1,660 1,023 1,023 1,221 1,005 974 881 881 1,117

Total current assets 2,185 1,794 2,311 1,650 1,650 1,919 1,762 1,686 1,714 1,714 1,878

Assets held for sale 86 78 70 185 185 111 111 144 66 66 60

Total assets 6,072 5,592 7,538 6,995 6,995 7,185 7,008 7,076 7,282 7,282 7,489


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Balance Sheet Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012


Equity and liabilities

Equity

Share capital and premium 663 679 681 682 682 686 663 662 663 663 661

Treasury stock 0 -7 -105 -300 -300 -300 -51 -248 -378 -378 -353

Other reserves -74 -107 -66 -55 -55 -22 -40 -75 -104 -104 -100

Put options reserve 0 0 -737 -737 -737 -737 -737 -737 -738 -738 -738

Accumulated profits brought forward 1,788 1,134 1,134 1,134 1,134 2,757 2,192 2,192 1,886 1,886 2,806Net profit for the period 156 290 1,414 1,620 1,620 259 399 744 925 925 95

2,533 1,989 2,322 2,344 2,344 2,643 2,425 2,537 2,254 2,254 2,371

Non controlling interest -85 -95 12 46 46 54 62 189 192 192 204

Total equity 2,448 1,894 2,333 2,390 2,390 2,697 2,487 2,727 2,446 2,446 2,575

Liabities

Non current liabilities

Debt and financing 1,879 1,980 1,954 1,797 1,797 1,770 1,701 1,695 1,817 1,817 1,911

Deferred taxation 69 75 21 196 196 189 184 191 199 199 195

Other non current liabilities 97 107 192 98 98 84 84 72 122 122 138

Total non current liabilities 2,045 2,162 2,167 2,091 2,091 2,043 1,968 1,958 2,138 2,138 2,244

Current liabilities

Debt and other financing 476 536 1,140 555 555 588 650 535 621 621 567

Put option liability 0 0 818 769 769 740 775 719 745 745 809

Amounts due to JV partners 80 34 66 98 98 127 148 44 93 93 13

Accrued interest and other expenses 195 201 250 228 228 220 258 247 264 264 266

Current tax liabilities 121 64 81 80 80 109 54 101 105 105 173

Other current liabilities 658 656 642 724 724 648 656 722 861 861 833

Total current liabilities 1,530 1,492 2,997 2,454 2,454 2,432 2,540 2,367 2,689 2,689 2,661

Liabilities directly associated with assets held for sale 49 44 41 60 60 13 13 24 9 9 9

Total liabilities 3,624 3,698 5,205 4,605 4,605 4,488 4,521 4,349 4,836 4,836 4,914

Total equity and liabilities 6,072 5,592 7,538 6,995 6,995 7,185 7,008 7,076 7,282 7,282 7,489


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Revenues breakdown (USDm) Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012Not reviewed by auditors

Revenues by category

Communication (voice, sms) 768 768 798 820 3,154 819 828 840 851 3,338 827

Information (data services) 66 73 85 95 319 106 121 131 137 495 150

ow mobile data 36 45 47 61 189 72 86 95 98 351 110

ow others 30 28 38 34 130 34 35 36 39 144 40

Entertainment (TV, Ringback tones, games 76 70 70 78 294 77 80 86 84 327 87

Solutions 2 21 24 23 70 23 27 29 31 111 33

MFS 0.0 0.0 0.1 0.4 0.5 0.7 1.4 2.8 4.6 9.5 6.4

Recurring revenues 912 932 977 1,016 3,837 1,026 1,059 1,089 1,108 4,283 1,103Others 42 45 41 53 181 55 61 62 69 247 65

Total group revenues 954 977 1,018 1,069 4,018 1,081 1,120 1,151 1,177 4,530 1,168

Revenues by service

Voice 674 684 706 725 2,789 720 730 736 746 2,932 722

ow Latin America 481 489 499 515 1,984 511 514 523 532 2,080 521

ow Africa 193 195 207 210 805 209 216 213 214 852 201

VAS-SMS 92 84 91 95 362 97 98 103 105 403 104

ow Latin America 82 74 81 83 320 86 88 93 94 361 93

ow Africa 10 10 10 12 42 11 10 10 10 42 11

VAS- non SMS 95 112 123 141 471 152 173 189 193 707 210

ow Latin America 85 103 113 129 430 139 158 171 175 643 189

ow Africa 10 9 11 12 41 13 15 18 18 64 21

Other 93 98 97 109 397 112 119 123 134 488 132

ow Latin America 88 92 95 103 378 106 114 117 127 464 126

ow Africa 5 5 1 5 19 6 5 6 7 24 6

Total revenues 954 977 1,018 1,069 4,018 1,081 1,120 1,151 1,177 4,530 1,168

Revenues by region

Central America 424 435 432 447 1,738 455 449 460 478 1,842 475

South America 312 323 356 383 1,374 387 425 444 450 1,706 455

Africa 217 219 230 239 905 239 246 247 249 981 239

Others/eliminations 0 0 0 0 0 0 0 0 0 0 0

Total group revenues 954 977 1,018 1,069 4,018 1,081 1,120 1,151 1,177 4,530 1,168

Local currency Revenue growth 11.5% 11.3% 11.7% 10.0% 11.2% 12.7% 10.2% 9.1% 10.1% 10.5% 8.4%

Group ARPU (USD) 9.3 9.2 9.3 9.5 9.1 9.3 9.4 9.3 9.3 9.3 9.0


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EBITDA breakdown (USDm) Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012


Central America 236 245 239 229 950 246 232 235 245 958 241

South America 132 138 151 168 590 165 182 190 189 726 186

Africa 83 81 94 100 358 98 100 104 102 403 90

Total EBITDA Group 451 464 484 497 1,896 509 513 529 536 2,087 517

Local currency EBITDA growth 15.9% 14.8% 14.6% 9.1% 10.7% 12.4% 6.4% 3.6% 7.3% 7.5% 2.2%

Sales and Marketing Costs, incl subsidy 203 205 225 247 880 232 248 250 258 988 255

of which sales and marketing 147 150 160 168 625 160 171 173 174 678 171

of which subsidies 56 55 65 79 255 72 77 77 84 310 85


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CAPEX breakdown (USDm) Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012


Central America 35 50 55 82 222 26 40 66 90 222 51South America 22 42 68 112 244 28 62 74 160 323 69

Africa 43 41 73 78 235 26 46 76 145 293 42

others/eliminations 0 1 -9 0 3 5 4 1 1 10 10

Total Capex 101 134 187 272 704 85 151 217 396 848 172


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Back to index Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012CENTRAL AMERICA

Operational highlights

Mobile

Population (m) 28 28 28 28 28 28 28 28 28 28 28

El Salvador 7 7 7 6 6 6 6 6 6 6 6

Guatemala 13 13 13 14 14 14 14 14 14 14 14

Honduras 8 8 8 8 8 8 8 8 8 8 8

Mobile penetration estimated (%)

El Salvador 102.0% 101.2% 99.2% 101.7% 101.7% 102.1% 104.8% 105.2% 111.6% 111.6% 116.2%

Guatemala 81.0% 82.7% 81.8% 83.7% 83.7% 84.7% 85.7% 86.2% 89.4% 89.4% 86.9%

Honduras 92.0% 91.0% 84.8% 85.7% 85.7% 84.1% 85.0% 85.4% 85.2% 85.2% 83.8%

Mobile customers '000 13,221 13,370 13,120 13,485 13,485 13,817 14,088 14,188 14,626 14,626 15,059

El Salvador 2,816 2,786 2,693 2,728 2,728 2,793 2,883 2,913 3,027 3,027 3,047

Guatemala 5,580 5,836 5,978 6,309 6,309 6,596 6,760 6,865 7,123 7,123 7,300

Honduras 4,825 4,749 4,448 4,448 4,448 4,428 4,445 4,410 4,477 4,477 4,712

Customers' market share (%)

El Salvador 46.3% 45.9% 45.2% 44.4% 44.4% 44.2% 44.3% 44.6% 43.6% 43.6% 42.0%Guatemala 49.0% 50.4% 51.5% 52.5% 52.5% 53.9% 54.3% 54.5% 54.4% 54.4% 55.4%

Honduras 66.1% 65.4% 65.3% 64.3% 64.3% 64.9% 64.2% 63.1% 63.8% 63.8% 68.0%

Blended ARPU (USD)- reported 11.5 11.7 11.7 12.2 11.9 12.1 11.9 11.8 12.0 11.9 11.6

ARPU YoY change (local currency) % -13.0% -11.0% -8% -1% -7% 3% 1% 0% -3% -1% -5%

Cable

Homes passed '000 1,294 1,309 1,320 1,332 1,332 1,342 1,347 1,358 1,373 1,373 1,529

Broadband customers/cable TV customers 35.0% 36.0% 38.0% 38.0% 38.0% 38.0% 38.0% 38.5% 39.8% 39.8% 38.9%

RGUs ('000) 645 642 650 670 670 682 692 707 721 721 800Cable revenues (USDm) 54 56 57 59 226 61 62 65 69 257 72

Quarterly highlights

Total revenues 424 435 432 447 1,738 455 449 460 478 1,842 474

YoY growth % 1.0% 0.4% 1.3% 3.5% 1.5% 7.2% 3.3% 6.5% 6.9% 6.0% 4.3%

YoY growth (pf for FX) 0.9% 0.3% 0.4% 1.4% 0.7% 5.3% 1.6% 4.9% 6.2% 4.6% 4.7%

EBITDA 236 245 239 229 950 246 232 235 245 958 241

EBITDA margin (%) 55.6% 56.5% 55.2% 51.3% 54.6% 54.1% 51.6% 51.0% 51.3% 52.0% 50.8%

YoY growth % 4.8% 1.9% 3.4% -2.2% 2.0% 4.0% -5.0% -2.0% 7.0% 0.8% -2.1%YoY growth (pf for FX) 2.4% 1.6% 1.1% -5.2% 0.0% 3.0% -7.1% -2.8% 6.3% 7.4% -1.1%


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Back to index Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012

SOUTH AMERICA


Mobile

Population (m) 63 63 63 60 60 60 61 61 61 61 62

Bolivia 10 10 10 10 10 10 10 10 10 10 10

Colombia 46 46 46 44 44 44 45 45 45 45 45

Paraguay 7 7 7 6 6 6 6 6 6 6 7


Bolivia 55.8% 56.5% 59.8% 64.5% 64.5% 66.4% 64.9% 66.0% 68.4% 68.4% 69.6%

Colombia 93.9% 92.0% 95.2% 95.1% 95.1% 96.5% 96.3% 96.5% 103.1% 103.1% 107.0%

Paraguay 86.4% 87.0% 90.2% 92.6% 92.6% 93.0% 92.9% 94.6% 95.8% 95.8% 95.8%


Bolivia 2,085 2,117 2,249 2,404 2,404 2,501 2,564 2,580 2,687 2,687 2,832

Colombia 3,815 3,941 4,129 4,293 4,293 4,442 4,596 4,713 4,854 4,854 5,002

Paraguay 3,128 3,181 3,300 3,441 3,441 3,491 3,511 3,574 3,614 3,614 3,697


Bolivia 36.4% 36.3% 36.3% 35.7% 35.7% 35.8% 35.7% 35.1% 35.1% 35.1% 36.1%

Colombia 8.9% 9.4% 9.5% 9.9% 9.9% 10.0% 10.4% 10.6% 10.2% 10.2% 10.1%

Paraguay 57.3% 57.6% 57.3% 58.0% 58.0% 58.2% 58.3% 58.0% 57.7% 57.7% 58.7%


ARPU YoY change (local currency) % 0% 2% 3% 3% 2% 3% 3% 0% 2% 4% 4%

Quarterly highlights

Total revenues 312 323 356 383 1,374 387 425 444 450 1,706 455

YoY growth % 31.9% 29.7% 28.3% 22.4% 27.7% 24.0% 31.5% 24.8% 17.6% 24.2% 17.4%


EBITDA 132 138 151 168 590 165 182 190 189 726 186

EBITDA margin (%) 42.4% 42.7% 42.4% 43.9% 42.9% 42.6% 42.8% 42.9% 41.9% 42.5% 40.9%

YoY growth % 41.3% 41.5% 34.2% 24.8% 34.5% 24.9% 31.6% 25.7% 12.3% 23.1% 12.6%


Capex 22 42 68 112 244 28 62 74 160 323 69

in % of revenues 7.1% 13.0% 19.1% 29.2% 17.8% 7.2% 14.5% 16.6% 35.6% 19.0% 15.2%

opFCF 74 65 103 69 311 102 92 139 92 425 131

% of revenues 23.8% 20.1% 29.0% 18.0% 22.7% 26.4% 21.6% 31.3% 20.4% 24.9% 28.8%


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Back to index Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012

AFRICA


Mobile

Population (m) 169 169 169 172 172 172 176 176 176 176 180

Chad 10 10 10 11 11 11 11 11 11 11 11

DRC 69 69 69 71 71 71 72 72 72 72 74

Ghana 24 24 24 24 24 24 25 25 25 25 25

Mauritius 1 1 1 1 1 1 1 1 1 1 1Rwanda 10 10 10 11 11 11 11 11 11 11 12

Senegal 14 14 14 12 12 12 13 13 13 13 13

Tanzania 41 41 41 42 42 42 43 43 43 43 44


Chad 19.5% 20.2% 20.4% 22.6% 22.6% 24.3% 25.8% 26.2% 29.2% 29.2% 28.9%

DRC 30.8% 32.4% 36.4% 40.9% 40.9% 42.4% 45.3% 50.7% 49.6% 49.6% 50.2%

Ghana 51.8% 53.2% 53.2% 57.3% 57.3% 58.0% 61.9% 62.7% 66.1% 66.1% 67.6%

Mauritius 80.4% 81.4% 83.0% 86.1% 86.1% 86.8% 87.2% 88.9% 93.0% 93.0% 93.2%

Rwanda 21.0% 28.1% 33.3% 26.2% 26.2% 33.3% 23.2% 29.0% 30.4% 30.4% 29.0%Senegal 48.0% 50.3% 51.7% 58.4% 58.4% 62.0% 63.8% 63.6% 64.5% 64.5% 66.2%

Tanzania 31.5% 33.3% 33.4% 33.6% 33.6% 35.6% 38.0% 40.2% 40.4% 40.4% 40.4%


Chad 1,129 1,223 1,257 1,429 1,429 1,545 1,677 1,692 1,894 1,894 1,903

DRC 1,605 1,822 2,012 2,156 2,156 2,150 2,319 2,474 2,382 2,382 2,307

Ghana 3,100 3,406 3,379 3,525 3,525 3,573 3,697 3,628 3,508 3,508 3,334

Mauritius 447 450 450 472 472 478 479 486 498 498 503

Rwanda 114 374 548 550 550 570 813 1,089 1,192 1,192 1,180

Senegal 2,376 2,451 2,424 2,356 2,356 2,526 2,628 2,540 2,379 2,379 2,484

Tanzania 4,076 4,394 4,576 4,478 4,478 4,671 4,941 5,263 5,451 5,451 5,498


Chad 52.1% 54.5% 55.6% 56.9% 56.9% 57.2% 57.7% 57.4% 57.5% 57.5% 58.5%

DRC 39.7% 42.7% 41.7% 39.4% 39.4% 37.6% 37.7% 35.7% 34.9% 34.9% 33.1%

Ghana 24.8% 26.4% 26.1% 25.2% 25.2% 25.1% 24.2% 23.4% 21.3% 21.3% 19.8%

Mauritius 43.0% 42.7% 42.3% 42.6% 42.6% 42.8% 42.6% 42.4% 41.5% 41.5% 41.8%

Rwanda n/a 12.0% 15.3% 15.0% 15.0% 15.1% 30.8% 33.0% 34.5% 34.5% 34.8%

Senegal 35.7% 35.2% 33.9% 32.7% 32.7% 33.1% 33.4% 32.4% 29.9% 29.9% 28.9%

Tanzania 31.6% 32.0% 33.1% 31.5% 31.5% 30.8% 30.4% 30.5% 31.3% 31.3% 31.4%



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Average FX rates Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 FY 2011 Q1 2012


Central America

Guatemala 8.22 8.01 8.06 8.03 8.09 7.83 7.71 7.83 7.84 7.81 7.77

Honduras 18.90 18.89 18.90 18.89 18.90 18.90 18.90 18.87 18.97 18.91 19.22

Nicaragua 20.96 21.23 21.49 21.75 21.35 22.01 22.28 22.56 22.84 22.42 23.12

Costa Rica 550.57 527.06 517.36 510.41 527.51 505.19 502.25 508.68 511.99 507.32 514.32

South America

Bolivia 7.02 7.02 7.02 7.01 7.02 6.99 6.96 6.92 6.92 6.95 6.91

Colombia 1961.05 1 946.29 1840.89 1880.98 1912.97 1891.70 1801.95 1814.11 1 926.42 1858.95 1829.42

Paraguay 4736.43 4 746.81 4784.27 4797.58 4760.38 4497.50 4025.63 3955.25 4 315.50 4226.12 4450.50

Africa

Ghana 1.43 1.43 1.43 1.45 1.44 1.52 1.51 1.54 1.60 1.54 1.70

Mauritius 30.45 31.94 30.94 30.29 30.87 29.69 28.16 28.26 29.00 28.81 29.04

Senegal/Chad 474.74 511.74 509.24 486.91 494.26 477.05 453.65 463.39 489.51 471.65 498.51

Rwanda 572.43 580.22 588.37 591.81 583.00 598.38 600.75 600.39 602.16 600.29 605.45

Tanzania 1349.13 1419.81 1508.33 1487.60 1437.89 1485.69 1538.63 1622.50 1672.76 1576.83 1591.54

operational data historical financial information q1 2012

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