Trilogy International Partners (TIP), which owns telecoms assets in New Zealand (2degrees) and Bolivia (Viva) through its Trilogy LLC unit, has reported total revenues of USD202.1 million for the three months ended 31 March 2018, up 6% on an annualised basis. Adjusted EBITDA for the quarter slumped 20% year-on-year, to USD32.2 million, with the group reporting a net loss of USD7.3 million for the three months under review.
Brad Horwitz, President and CEO, commented: ‘Both our operating markets are off to a solid start in 2018. We continue to make progress on our objectives to shift our subscriber mix to higher value post-paid subscribers, as well as leverage the significant investments we’ve made in our LTE networks over the last two years by driving data consumption across our consolidated customer base … In New Zealand, our post-paid base is 6% larger than a year ago and we have improved churn sequentially. In Bolivia, our subscriber activations were robust for the second quarter in a row as we leveraged our enhanced LTE footprint, which is 45% larger than a year ago. We grew our Bolivian post-paid and pre-paid subscriber base by over 55,000 this quarter, compared to a net loss of over seven thousand a year ago’.
TIP was formed in 2005 by wireless industry veterans John Stanton, Theresa Gillespie and Brad Horwitz, whose previous company Western Wireless International built and operated wireless networks in markets such as Austria, Ireland, Iceland, Croatia, Slovenia, Latvia, Georgia, Ghana, Cote d’Ivoire, Bolivia, and Haiti. TIP began trading on the Toronto Stock Exchange in 2017, following a ‘reverse acquisition’ transaction with Canada’s Alignvest Acquisition Corporation.