US-based Liberty Latin America (LLA) – which was established in December 2017 following a ‘split-off’ from Liberty Global – has reported revenue of USD943 million for the three months ended 31 March 2019, up 4% on an annualised basis. Operating income, meanwhile, increased 15%, to USD113 million. The net loss attributable to shareholders was USD42 million in the quarter under review, compared to a deficit of USD45 million in 1Q18.
On 31 March 2019 LLA completed the acquisition of an 87.5% interest in Curacao-based United Telecommunication Services (UTS) for a cash purchase price of USD161 million, subject to certain potential post-closing adjustments. Due to the timing of the acquisition, LLA did not record any revenue or earnings attributable to UTS in its consolidated statement of operations for 1Q19.
In operational terms, LLA reported a consolidated mobile user base of 3.514 million at 31 March 2019, alongside 2.453 million fixed broadband subscribers, 1.924 million pay-TV customers and 1.399 million fixed voice users.
LLA CEO Balan Nair commented: ‘Our first quarter performance reflects a good start to the year. We delivered record Q1 RGU additions of 73,000, with subscriber growth across all reporting segments. In particular, Cable & Wireless Communications (CWWC) added 32,000 RGUs, its best quarter since our 2016 acquisition, and we continued to add RGUs in Puerto Rico following the restoration of our network in 2018. We see relatively low penetration of high speed connectivity across our markets and further potential for fixed subscriber growth as we deliver leading product propositions and expand our high speed footprint. In Q1, we added or upgraded over 80,000 homes and are on-track to meet our full-year targets.’