Liberty Latin America Reports First Quarter 2022 Results

Liberty Latin America Reports First Quarter 2022 Results

04 May 2022 in

Liberty Latin America Reports First Quarter 2022 Results

  • Reported revenue growth of 5% to $1.2 billion, 1% higher on a rebased basis
  • FY 2021 double-digit revenue growth driven by acquisitions, 4% rebased growth
  • Record mobile postpaid additions of 121,000
  • >160,000 homes passed or upgraded; 99% fiber-to-the-home
  • Puerto Rico and Costa Rica integration programs on-track
  • Acceleration of share buyback activity; >$55 million in quarter

Denver, Colorado - May 4, 2022: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q1”) ended March 31, 2022.

CEO Balan Nair commented, “We have made good progress against a number of our key operational objectives in the first quarter. Of note, we delivered record mobile postpaid growth, grew our fixed subscriber base, continued to expand our high-speed networks and progressed business integrations in Puerto Rico and Costa Rica.”

“Our sales initiatives and focus on delivering innovative offerings drove our best ever quarter of mobile postpaid additions with over 120,000 new subscribers. The residential fixed business was led by strong performances in Costa Rica, Puerto Rico and Panama. We continued to see a challenging environment in Chile where we reported net RGU losses over the quarter, however the launch of aggressive new offers in March drove record gross additions in the month.”

“With respect to our inorganic strategy, we continue to make good progress with the integrations of AT&T's Puerto Rico and USVI operations and Telefónica's Costa Rica assets, each of which we expect to drive significant synergies in the coming years. In addition, we are on-track to complete the transactions announced in Panama and Chile during H1 and H2, respectively.”

“Overall, we have had a steady start to the year and anticipate building operational and financial momentum through 2022. We remain confident in our medium-term outlook and accelerated our buyback activity in the first quarter, repurchasing over $55 million of our shares.”