Trilogy International Partners Q2 revenues drop 25% to USD135m

12 Aug 2020

Trilogy International Partners (TIP), which owns telecoms assets in New Zealand (2degrees) and Bolivia (Viva), has reported total revenues of USD135.0 million for the three months ended 30 June 2020, down 25% from USD179.6 million on an annualised basis. Adjusted EBITDA for the quarter decreased 35% to USD23.1 million, while the group reported a net loss of USD19.2 million for the period under review, compared to a deficit of USD6.4 million in 2Q19.

In operational terms, 2degrees reported a total of 1.457 million mobile customers at end-June 2020, alongside 119,400 fixed broadband users. Viva, meanwhile, claimed 1.455 million wireless customers at end-June.

President and CEO Brad Horwitz commented: ‘We are encouraged by the positive trajectory of our New Zealand business in the second quarter. 2degrees’ performance improved month-on-month, as businesses have reopened while the government closely monitors the situation. Despite closed retail channels for much of the second quarter, we increased our post-paid mobile and broadband customer bases in New Zealand … We remain enthusiastic about our business and the resilience of the telecom industry … The COVID-19 pandemic continues to impact Bolivia significantly as a result of strict quarantine measures. We will continue to be disciplined in our operations and prioritise cash conservation as the environment stabilises there, and more broadly, in Latin America.’