Liberty Latin America Reports Q4 & FY 2021 Results

Liberty Latin America Reports Q4 & FY 2021 Results

22 Feb 2022 in

Liberty Latin America Reports Q4 & FY 2021 Results

  • Record mobile and solid fixed additions in year
  • FY 2021 double-digit revenue growth driven by acquisitions, 4% rebased growth
  • ~750,000 homes passed or upgraded in 2021; 99% fiber-to-the-home
  • Delivered 2021 guidance for all financial and operating metrics
  • Strategic acquisitions with significant synergies to enhance future performance

Denver, Colorado - February 22, 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 (“Q4”) and fiscal year (“FY”) ended December 31, 2021.

CEO Balan Nair commented, “The fourth quarter concluded a successful year for LLA. Despite continuing impacts from the pandemic and competitive challenges in Chile, we had strong operational performance across the rest of the group. We also made progress with the integration of our acquisitions in Puerto Rico and Costa Rica, and successfully delivered against our 2021 guidance targets.”

“High-speed connectivity is at the core of our customer offering and we invested to expand and improve our networks during the year. We added or upgraded approximately 750,000 homes passed across our operations, almost exclusively using fiber-to-the-home technology. Combining our network strength with attractive consumer propositions, we added more than 250,000 RGUs, which was over 50% higher than in the prior year. Our mobile operations delivered a particularly strong performance bolstered by the inclusion of the business we acquired in Costa Rica, as we added nearly 500,000 subscribers in 2021, of which over 25% were postpaid.”

“Our B2B operations continued to recover during the year as we utilized our high-speed and reliable subsea, terrestrial and mobile networks combined with innovative product offerings to deliver effective solutions for our customers.”

“LLA reported $4.8 billion in revenue, $81 million of operating income and $1.8 billion in Adjusted OIBDA in 2021. We grew our cash flow from operations and Adjusted Free Cash Flow during the year to $1.0 billion and $200 million, respectively, delivering our Adjusted Free Cash Flow guidance. We also increased our share repurchase activity, with $65 million spent in 2021, and today we are announcing a new program to buyback up to $200 million.”

“Overall, we were pleased with our robust operational execution and financial performance in 2021. As we look ahead to 2022, we intend to deliver further operational enhancements and financial growth, continue to progress the integrations in Puerto Rico and Costa Rica, and successfully complete the accretive transactions announced in Panama and Chile. We remain focused on driving Adjusted Free Cash Flow for the group and we are confident that the operational and strategic actions we are taking will enable a multi-year growth trajectory.”