Trilogy International Partners revenue down 13% to USD694m in 2019

25 Mar 2020

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 USD693.9 million for the twelve months ended 31 December 2019, down 13% on an annualised basis. Adjusted EBITDA for the year decreased 4% to USD138.3 million, while the group reported net income of USD24.0 million for 2019, compared to a net loss of USD31.7 million in 2018.

In operational terms, 2degrees reported a total of 1.459 million mobile customers at end-2019, alongside 107,800 fixed broadband users. Viva, meanwhile, claimed 1.850 million wireless customers at year-end, of which 47% (around 869,500) were LTE users.

President and CEO Brad Horwitz commented: ‘Our results in the fourth quarter and for the year met our expectations. In New Zealand, we had a strong finish to a year of solid customer acquisition. In the fourth quarter, we reached our highest level of post-paid net additions since Q4 2016 and continued to expand our broadband base … In Bolivia, social unrest following the October presidential elections depressed customer activations and usage in the fourth quarter, with stability in the country beginning to return in December. Despite the social unrest and competitive dynamics which have impacted our pre-paid results, our post-paid customer base and revenues remained relatively resilient throughout 2019. In addition, at the end of the year, we had over 10,000 customers using our new ‘Fixed LTE’ product, with an indicative annual revenue generating run-rate of approximately USD2.0 million, as we diversify our business.’