Trilogy International Partners Q1 revenues drop 19% to USD153m

12 May 2020

Trilogy International Partners (TIP), which owns telecoms assets in New Zealand (2degrees) and Bolivia (Viva), has reported total revenues of USD152.8 million for the three months ended 31 March 2020, down 19% from USD187.7 million on an annualised basis. Adjusted EBITDA for the quarter plunged 26% to USD27.4 million, while the group reported a net loss of USD17.3 million for the period under review, compared to a deficit of USD2.9 million in 1Q19.

In operational terms, 2degrees reported a total of 1.488 million mobile customers at end-March 2020, alongside 114,800 fixed broadband users. Viva, meanwhile, claimed 1.796 million wireless customers at end-March.

President and CEO Brad Horwitz commented: ‘We continue to assess all aspects of our businesses and have implemented a number of proactive measures to navigate this period of unprecedented uncertainty. These initiatives include pausing all discretionary operational spending and non-critical capital expenditures, and, similarly, TIP’s board has determined not to pay a dividend in 2020. While the current situation remains fluid, we are confident that measures being enacted today will ensure we are well positioned once we emerge from this period of disruption.’