Trilogy International Partners Q1 revenues drop 7% to USD188m

9 May 2019

Trilogy International Partners (TIP), which owns telecoms assets in New Zealand (2degrees) and Bolivia (Viva), has reported total revenues of USD187.7 million for the three months ended 31 March 2019, down 7% from USD202.7 million on an annualised basis. Adjusted EBITDA for the quarter increased 13% to USD37.0 million, while the group reported a net loss of USD2.9 million for the period under review, compared to a deficit of USD7.3 million in 1Q18.

In operational terms, 2degrees reported a total of 1.415 million mobile customers at end-March 2019, alongside 87,100 fixed broadband users. Viva, meanwhile, claimed 2.011 million wireless customers at end-March, of which 40% (804,280) were LTE users. TIP notes that its LTE coverage is ‘nearly ubiquitous’; 2degrees and Viva 4G sites now cover 100% and 91% of their networks, respectively.

President and CEO Brad Horwitz commented: ‘We are pleased with our start to 2019. Both operating markets met expectations for the first quarter. In New Zealand, we continue to have solid momentum in growing our customer base across the board, especially in post-paid and broadband, which increased 9% and 22% compared to Q1 2018 … Data consumption continues to increase dramatically in both of our markets as we leverage our LTE networks and the prevailing business cycles. As a result, our consolidated data usage per subscriber in the first quarter of 2019 grew 60% versus a year ago.’