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Trilogy International Partners Q2 revenues drop 9% to USD180m

13 Aug 2019

Trilogy International Partners (TIP), which owns telecoms assets in New Zealand (2degrees) and Bolivia (Viva), has reported total revenues of USD179.6 million for the three months ended 30 June 2019, down 9% from USD198.1 million on an annualised basis. Adjusted EBITDA for the quarter decreased 5% to USD35.7 million, while the group reported a net loss of USD6.4 million for the period under review, compared to a deficit of USD6.3 million in 2Q18.

In operational terms, 2degrees reported a total of 1.406 million mobile customers at end-June 2019, alongside 93,400 fixed broadband users. Viva, meanwhile, claimed 1.988 million wireless customers at end-June, of which 42% (834,834) were LTE users.

President and CEO Brad Horwitz commented: ‘We are particularly encouraged by our continued positive momentum in New Zealand. We posted another quarter of solid gains in both our post-paid and broadband customer bases, almost doubling our combined net additions versus the second quarter of 2018 … In Bolivia, competition remains a significant factor. We are actively addressing the current market dynamics and in the second quarter we completed our strategic consultancy work to identify opportunities to improve our operating structure and enhance revenue. The impact of implementing these changes will take time; however, we remain committed to optimising this asset and shareholder value.’

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