Liberty Latin America Reports Fiscal 2020 Results

Liberty Latin America Reports Fiscal 2020 Results

28 Feb 2021 in

Liberty Latin America Reports Fiscal 2020 Results

  • Continued sequential quarterly financial improvement
  • Strong RGU additions driven by C&W and Puerto Rico
  • Integration of AT&T's Puerto Rico and USVI operations progressing well
  • Delivered robust cash flow from operations and Adjusted FCF in 2020

Denver, Colorado - February 28, 2021: 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 (“Q4”) and fiscal year (“2020” or “FY 2020”) ended December 31, 2020.

CEO Balan Nair commented, “Operating and financial results for the group continued to improve in the seasonally strong fourth quarter. Our markets are steadily recovering from the adverse impacts of COVID-19, however the environment remains challenging, and, given the circumstances, we were pleased to deliver robust, positive adjusted free cash flow in 2020.”

“A consistent theme during the year has been growing demand for our high-speed broadband services and this drove subscriber additions across both C&W segments and Puerto Rico during the fourth quarter, where we added over 90,000 organic RGUs in aggregate, nearly 70% more adds than Q4 2019. In Chile, we halved the number of subscriber losses in Q4 compared to Q3, as we stabilized network performance and invested in customer service initiatives, and we expect further improvement through 2021. Mobile product performance continues to improve as mobility levels increase across most of our markets.”

“Our unique combination of subsea, terrestrial fiber and mobile networks position us well to deliver leading connectivity solutions and we continue to invest across our footprint. In 2020, we upgraded or passed approximately 400,000 homes, with over 80% using fiber-to-the-home technology, and we have exciting plans to bring high-speed connectivity to more customers in 2021, aiming to upgrade or pass approximately 600,000 homes.”

“For the year, we reported $3.8 billion in revenue, $92 million of operating income and $1.5 billion in adjusted OIBDA. COVID-19 negatively impacted our financial performance overall, particularly across our mobile and B2B operations, however we produced improving results through the year and sequential revenue, operating income and adjusted OIBDA growth in Q4.”

“We remain active and disciplined in pursuing our inorganic strategy. The businesses we acquired from AT&T finished the year well and we are on-track with our integration plans, including the launch of some exciting new propositions for our customers in 2021. We are continuing to work towards a summer completion of the acquisition of Telefónica's Costa Rica assets.”

“Overall, despite headwinds due to COVID-19, our operations and connectivity-based product offerings proved resilient in 2020. As we look to 2021, we are focused on delivering top-line growth as markets continue to recover, expanding our high-speed networks through aggressive new build programs, integrating our operations in Puerto Rico to create attractive converged propositions, and generating adjusted free cash flow over 30% higher than in 2020.”


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