Trilogy International Partners revenue up 2% to USD798.2m in 2018

28 Mar 2019

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 USD798.2 million for the twelve months ended 31 December 2018, up 2% on an annualised basis. Adjusted EBITDA for the year decreased 4% to USD144.7 million, while the group reported a net loss of USD31.7 million for the year under review, compared to a deficit of USD30.1 million in 2017.

In operational terms, 2degrees reported a total of 1.396 million mobile customers at end-2018, alongside 81,800 fixed broadband users. Viva, meanwhile, claimed 2.028 million wireless customers at year-end, of which 38% (739,000) were LTE users. TIP notes that its LTE coverage is ‘nearly ubiquitous’; 2degrees and Viva 4G sites now cover 99% and 90% of their networks, respectively.

President and CEO Brad Horwitz commented: ‘In New Zealand, we entered the year with the primary objectives of regaining our momentum in post-paid and normalising operating expenses. We are encouraged by our progress on both fronts … In Bolivia, our fourth quarter and full year results were slightly better than our expectations. Revenue headwinds continue in the market due to on-going price-based competition. We continue to look at a number of operational and strategic alternatives. In this regard, we are pleased with the tower sale announced earlier this quarter and will remain opportunistic as it relates to maximising shareholder value.’