Liberty Latin America Reports Q2 & H1 2022 Results - Apology note03 Aug 2022 in
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Liberty Latin America Reports Q2 & H1 2022 Results
- Q2 reported revenue growth of 4% to $1.2 billion, up 1% on a rebased basis
- Record second quarter mobile postpaid additions of 106,000
- Acquisition of Claro Panama completed on July 1
- Nearly $120 million of shares repurchased in H1
Denver, Colorado – August 3, 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 (“Q2”) and six months (“YTD” or “H1 2022”) ended June 30, 2022.
CEO Balan Nair commented, “Following a solid start to the year, we made further progress in the second quarter as we grew our internet and postpaid mobile subscriber bases and completed the acquisition of Claro Panama in the beginning of July.”
“We continue to focus on delivering subscriber growth across products and customer segments that generate recurring revenue. During the quarter we grew our broadband subscriber base, including a record number of additions in Costa Rica and a return to growth in C&W Caribbean & Networks, while our operations in Chile broadly maintained market share despite intense competition. Mobile postpaid additions were greater than 100,000 for a second consecutive quarter as our ongoing commercial focus led to subscriber growth across all of our reporting segments.”
“Our inorganic strategy is progressing well and is set to deliver significant value for stakeholders as we integrate operations and realize synergies. On July 1, we closed the acquisition of Claro Panama and we expect to complete our agreed 50/50 JV with Claro Chile in the second half of 2022. Our integration plans in Puerto Rico and Costa Rica are on-track and we are excited to build growth-oriented converged telecommunications service providers in those markets.”
“We are also committed to responsible and sustainable practices across our operations and through our recently released 2021 ESG Report, we demonstrated significant progress in measuring and highlighting new goals with respect to our energy consumption, data privacy and security efforts, and strengthening our commitment to positive change.”
“Overall, we continue to build operating momentum in our business, while also making progress with our inorganic strategy, which we expect to drive additional Adjusted FCF growth in the coming years. We have continued to be aggressive with our share buyback activity, purchasing a record amount in the second quarter and taking our year-to-date total to nearly $120 million, as we remain confident in our business and prospects.”