Trilogy International Partners 2Q18 revenues up 2% to USD198.1m

10 Aug 2018

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 USD198.1 million for the three months ended 30 June 2018, up 2% on an annualised basis. Adjusted EBITDA for the quarter slumped 5% year-on-year, to USD37.5 million, with the group reporting a net loss of USD6.3 million for the three months under review, compared to a deficit of USD10.8 million in 2Q17.

In operational terms, 2degrees reported a total of 1.392 million mobile customers, alongside 74,600 fixed broadband users. Viva claimed 2.278 million wireless customers, of which 22% (501,116) were LTE users. The Bolivian cellco added 204 LTE cell sites during the second quarter of 2018, meaning that 87% of its network is now LTE-enabled.

Brad Horwitz, President and CEO, commented: ‘Our businesses turned in a solid quarter, with continued post-paid subscriber growth in both of our operating markets … We had over 11,000 consolidated post-paid net additions; nearly double last quarter. As a result, our post-paid subscriber base is 5% larger than it was at the end of Q2 2017.’

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.