Trilogy revenues up 2% to USD157.5m in 3Q21; Bolivian unit continues to struggle

10 Nov 2021

Trilogy International Partners, which owns telecoms assets in New Zealand (2degrees) and Bolivia (Viva), has reported total revenues of USD157.5 million for the three months ended 30 September 2021, up 2% on an annualised basis, from USD153.7 million. Adjusted EBITDA for the quarter dipped 8%, to USD25.8 million, with the group reporting a net loss of USD127.7 million for the three months under review, compared to a deficit of USD23.0 million in 3Q20.

In operational terms, 2degrees reported a total of 1.456 million mobile customers, alongside 145,700 fixed broadband users. Viva, meanwhile, claimed 1.677 million wireless customers.

President and CEO Brad Horwitz noted: ‘The Bolivian operating environment continues to be negatively impacted by COVID-19. While subscriber mobility in the country has increased, resulting in a modest sequential improvement in some of our operating metrics, we have not seen the rebound we had hoped. We determined that recording an impairment charge to our long-lived assets in Bolivia was appropriate at this time.’