LILA - Earnings call transcript Q1 2024 | Liberty Latin America Ltd.

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Operator

Good morning, ladies and gentlemen, and thank you for standing by. Today's call is being recorded.I'll now turn the call over to Daniel Neiva, VP, Chief Commercial Officer of Liberty Networks.

Daniel Neiva

Good morning, and welcome to Liberty Latin America's First Quarter 2024 Investor Call. At this time, all participants are in listen-only mode. Today's formal presentation materials can be found under the Investor Relations section of Liberty Latin America's website at www.lla.com.

instructions given presentation, and a formal session. answer today's will for be question Following

this being Actual implied respect call include reminder, are expressed and a As is or statements and differ including and growth that company's materially other outlook those information forward-looking historical recorded.Today's statement. the expectations may its by with fact. this to not future prospects results statements, may remarks from

Latin filed Liberty based. release.Liberty change please XX-Q statements information, in obligation statements risk to conditions update report any or or Latin and expectations any such America's XX-K in refer recent the America forward-looking any press disclaims along its Form on in reflect is more For factors information quarterly most the information to which annual associated to on or Form on discussed report with

in refer now In certain can the comparable we the our GAAP to financial reconciled like Investors Mr. website.I presentation, section under non-GAAP call of the turn financial found appendices addition, call, Balan which to on our which are which CEO, is to most the Nair. would this measures, over accessible to to this will measures, be

Balan Nair

results that, our performance. of Liberty welcome follow financial your questions. a I'll and get you, our will by Noyes, first CFO, company's operating Thank Group review will the After with then reporting with Daniel, Latin results straight America's begin highlights quarter our and everyone of overview to presentation. we an to segment. Chris

needed Q&A our executive across contribute will team them the the from region. always, following as I As invite joined by And to prepared remarks. my I'm during

this postpaid Slide working www.lla.com.Starting basis housekeeping, which in quarter, of slides, on can and was some we Panama. XX,XXX strong impact in which $XXX Internet in Rica I Panama grew in Cable particularly growth highlights. by the Rico, losses all where there we As subscribers as This in and of We Jamaica.We for on strong ECF reported later, and year. our adds our Jamaica and X than Costa In will & best offset you performance growth high-speed reporting and as us in from our website second quarter. a the of both mobile million cover Once years migration Wireless in find well total. the across growth will was positioning Caribbean, adjusted broadband subscriber adding Panama the be our improved in included drive at in double-digit X high-single-digit segments mobile, performances subscribers to more growth and we but in well half Puerto added again, point our net recorded good Rica with from and Costa OIBDA

in sequentially year-over-year the X In improve is half in comments reflects poised well. as to Rico performance both and This addition, second tale our halves. of XXXX as of Puerto a

and the a in seeing the as growth in buyback trading of half our about convert. We outstanding operations and XXXX intend significant we all in are outstanding aggressively part in repurchases X% in the take shares We dislocation operations Rico of passed timeline second our migration advantage to our the in half.We of continue future. stock completed a To an we capacity nearly of levels out any has all we to milestone as our first the ahead early that of $XXX to last customers call. our XXXX.Finally, major mobile new our core to and of authorized additional in IT the end, our set million on of Puerto our Board earnings end platform April for mobile buyback in

with create that market. in our now we that a leading excited move are player can forward converged to plans We

drive now Wireless in our and the Cable of I'll presentation.Turning cover & will performance more review X. impacts operating during migration detail activities the begin We anticipate that will on performance Caribbean. QX with improved to the we today's factors Slide

we the our led delivered Jamaica, slide, this both of On performance left largest additions. product In Internet first consistent is the by present the across market which our and categories postpaid in segment. quarter, we mobile

In drive strategy, we so the X% combined the quarter. of Cable year. Wireless This the growth to have solid fixed addition a by have for for we we of BXB, across with momentum commercial to also previously Overall, the to delivered this strong & highlighted, our start increased Caribbean rebased slide. the an commercial FMC year.Moving of average pricing to markets year in start revenue majority helped a center the X.X% which our far

forward, solid intend reduce to vendor continue example, growth shutdown healthy increases related our quarter additions, further Slide additional through opportunity to see consolidation subscriber our We take to, with to of in Internet price our of copper an revenue. of for on and X and the left supporting consistent digitalization Panama fixed in product further efficiencies Looking business.Moving we C&W base the slide. our of to operating network, segment. a the cost delivered our inflation Starting

mobile, X% the have to offset by ended the declined gains fixed XX center underweight driven Digicel X% top-line and months, XX% quarter. by customers prepaid reported whose by on bouyed the be subscriber losses was mobile, XX% the We further and footprint driven April Growth of in a strong our should position, which high-speed our which addition over momentum to were postpaid we and share respectively. ARPU. increased by an with from with having continue QX past partly of BXB in growth the improved XX.Moving market and concession up of predominantly support X% should by network We products, to subscriber revenue saw a by slide. return In but quarters. in coming FTTH, having In

expect to by through We year driven improve adds. performance subscriber the

has one increases value the the we the anticipate ladder of here to in business consistent of of the mobile, in this offerings. and inflation expect second also fixed lowest The the and in value ARPUs We price climb both prepaid part with year. product our region and

adjusted integration total benefits Liberty year-over-year continue left the the on complete. Rico. of to slide. offers. in see additions driven through Puerto Panama Starting ] and [ RGU will ] of quarter the and is another to Internet of triple-play we [ We drive digital OIBDA and X Finally, in XXXX.Turning the Claro's growth Slide operations delivered now And by dual-play

the This migration gross final Our momentum in equipment lower migration see reported the for starting and customers and than revenue is in ECF the gross sales product drive less fixed Puerto are strategic we detail by of driven right performance base.In activities believe our final network, his within subscriber Chris successful. we and of primarily adds incurring takes schools the in approximately lower related of We force the some commercial sales. migration improved mobile we now we section.In plan on across the Puerto in ECF have equipment turning and and than and of rather we Rico. anticipate of we Rico. of by in was to earnings Puerto systems the March through headwind adds. We while year-over-year, QX mix by for in remains This half schools sales increased to team to flagged funding greater for the as robust. financial XX% activities green mobile, our also XX,XXX to due to new decline of impact focused a additions In a these We impacted withdrawal slide, funding withdrawal sales stages our our and the customer the transitioning in is saw shoots show further second will average previous cover were are wireless and Rico, in drove migration subscriber in a assets half. ARPU to sequentially new QX. stages we and Puerto XX,XXX we be puts Rico. impacted costs by losses the IT subscribers announcement, core and center April.As

of should the and We cost and OIBDA the in up expect but second this show the adjusted effect synergies quarter full savings fourth in year. third expansion quarter,

top-line against the slide. the year's of left with continues to in half for expansion synergies, reported in subscriber Liberty to quarter will on additions X Costa our a sets X growth month performance for postpaid and Starting continued sequential quarter's Rica. momentum what delivered improvements than point the per be Costa challenging prior We expect competitive backdrop drive the in strongest second million us in FMC adjusted up in XXXX.Turning operating the than We and years a mobile, $XX double significant robust fixed at Slide some to we OIBDA OIBDA postpaid. with more showing quarter In Rica. adjusted in that and more and cost

revenue of mobile. forefront trials previously we are We XG conducted growth As quarter slide. the be X% by the reported development.Moving led the center in and to in growth mentioned, prepared rebased the at to have of this

business our a cost to as a generation. grow still We BXB in and the with by from On are segment. the in flow the Slide taking great cash the OIBDA double-digits providers reported and improving X revenue we quarter. This in XX% was continue while Adjusted country.Finally, price higher exceptional a basis, market. increases, cost efficiencies of one small remaining operations to grew is our lowest Networks base Liberty

by some non-cash and However, driven from there's often factors. non-recurring quarter-to-quarter volatility

revenue year for side left prior we the On slide, present of the current quarters. and

is revenue amortization and the of decreasing underlying impact growing. business shown this non-cash our that to We have is IRU highlight

a In to market for Wholesale IRU center basis, of operations while to grew expect services, the most and show expanded reported our and and valuable of up of in also America near-term point mission-critical reinforcing as X revenue.Enterprise their slide, aspect volume in the locations the cybersecurity region, to to MPLS with for the our will our mark in has commitment are highlighted a as strategic on we surface continue of build the of operations share X% of network services impact to presence our our solutions services, our excluding faster slide, Liberty we new additional lower customers focused continue company's This Central in growth, our growth words, been on network strategy. non-cash over presence year. point reach.Finally, reliable other time, vital amortization IRU Networks. IP this of And have trusting in the usual the year hubs step by draw customers. period.We value-added therefore, transit, increased customers rebased the high-quality, opening delivering sales of prior right headwind for These in We graphic. presence revenue our driven capabilities. the providing capabilities our forward another in steadily, area extending falling connectivity we create our revenue cloud the new

to However, we the business. performance also wanted highlight strong financial of the

its our given summarize And Our low a networks. with behind Liberty XX%. cash the relatively Networks our segment margin an the flow adjusted OIBDA direction major free my finally operations with drops.To integration have migration, us operating offerings capital and Puerto and has Rico headed presentation, strong last the are in right commercial and of intensity, above mid-XXs secure we improved completion

meaningful positioned who over financial for with when your performance our financial should We pass our value.With I'll expansion through before questions. we to Financial deliver Officer, Chris you repurchases, Chris? stakeholder Noyes, take are you in which will share talk that, our results, combined Chief our

Christopher Noyes

by I'll lower in rebased X% Panama, Caribbean rebased decline OIBDA. starting the which on XX. in to positive the Costa was our financial detail, more We Balan. take to billion Thanks, now was first momentum offset aforementioned X% basis $X.X and reported at Revenue million. declines quarter. Rico.Turning greater through you $XXX than performance adjusted of a a in in We C&W saw Puerto on Slide Rica,

was and these more quarter, was revenue, costs Costa Panama growth. performers strongest Liberty performance our Puerto were declines Rico than by other build a In About or in in spend impacted our the the of and negative year operating we lower some our driven fixed, compared positive off and FCF reflecting Our trials.In posting as $XXX to year, And QX. This to kicked Caribbean that CPE million upgraded vendor higher of recaps C&W section, Panama.Slide paydowns and high-single-digit QX including growth. new Liberty of reported upgrade in Caribbean. have in of of and in income with the numbers.In Similar including million rebased migration million or in capacity the a offset highlighted in C&W good completed invest results across with last rebased C&W combination transaction added interest adjusted QX, of and XX% Rica an where had revenue. double-digit posted segments factors, quarterly homes also heavily of for quarter, integration-related in tax $XXX QX prior tax growth. to the continue year-over-year, XX,XXX one-time in payments end financing $XXX and million tower were by P&E Starting VAT rebased activities. XX% the including third impacts was of quarter. X% the XX mobile, $XX of at additions was in capacity we We our QX. section, our we last impact, segment million and QX adverse revenue incremental segments $XXX XG materials

especially increased fixed, representing million, along and revenue X year-over-year costs, across X% achieved growth, drivers higher increases adjusted of rebased BXB respect markets. fueled to with we expenses. X% following all of business of in revenue reductions Specifically, growth and rebased largely $XXX in mobile posted X% direct growth main a on ARPUs price posting number and with interconnect growth in in a programming residential basis. categories by X% subscriber We OIBDA The were

RGUs, of adjusted X% improved primarily OIBDA decrease points result, XX% over expansion the growth $XX million revenue offset FMC. a generated higher additions XX% residential XXX a and over RGU X% rebased adjusted reflecting a OIBDA $XXX increase in OIBDA basis was prepaid million the growth top-line QX, and in wins back in in adjusted by a ARPU growth. driven of year-over-year and margin decline by CWP was XX%.Next, revenue new rebased Offsetting part growth last base year. by residential as by Wireless X% and project partly to & As on Cable to fixed the result Rebased postpaid mobile, BXB Panama. moving in due driven of in of to

of performance Our We million adjusted XXXX adjusted X% to Networks. led value OIBDA declines in expansion by percentage points This OIBDA, XX%.Turning over in and resulting Liberty OIBDA Claro year-over-year generated margin to acquisition. of X% X adjusted was to million capture in helped revenue to from rebased $XX $XXX respectively. the

Dominican decrease growth As to amortization a service, high-single-digit million in Honduras. which non-cash declined and due growth driven in Balan as in wholesale highlighted, Enterprise, in revenue $X IT partially roughly and connectivity offset IRU accelerations year-over-year, by a was mostly Colombia, Republic and by

revenue decrease decline in million driven basis, highlighted. reported a activities, million mobile reflected right, commercial XXXX. $XXX QX Our OIBDA Balan rebased the by as however, was equipment was in decline also revenue a decline on substantially from the revenue part due in up lower, declined Rico. Puerto back by sales, to decreased was compared Adjusted of we year-over-year lower in QX on XX large a fixed reflecting Residential adjusted to XX% million, revenue.Second Liberty due in gains part the XX% by in volume as aforementioned from a $XX QX X% the OIBDA impacting IRU was $XX Subscription past in XX% a as rebased QX, Mobile, subscribers. driven which year-over-year. rebased migration reduction months. to of

million in a basis. by was higher QX and on will by and performance main $XX rebased and OIBDA revenue continued the growth Puerto being which adjusted XX. contributed business Rican X% costs and driver mobile All growth positive XX%. financial Costa reflecting to of rebased the top-line negative Rico. Costa rebased other dollars year-over-year against growth has U.S. we to and of I lower also the $XXX delivered adjusted Rica of weaken related being revenue, the X detailed with anticipated, revenue million, OIBDA revenue expanded integration performance part costs denominated our OIBDA revenue present of certain growth was Rebased a migration activities.Concluding of with by far was in lines the impacted As right, to colon.Moving performance year-over-year. higher XX% review to on in U.S. the growth, our Slide significantly organic Supported dollar the helped adjusted

million. prior the on revenue through our of slide, $XXX First, we went

churn suffered customers assisting this during migration base focused subscriber in frontline our Sales amplified the mobile migration on course our the of and NPS was drive the advantage. being targeted this were higher our with customer when have migration as much Post the to now flexibility have the offers begun migration, of bulk already was on our capitalize QX we during improve. transition.With reduced level we said, to cross-sell FMC revenue and that and Importantly, as and expected information was the and occurred. see

that them our network handsets had costs primarily These inventory costs write-offs. customers run Into aged intense use we other to expect will support don't items, associated QX, incompatible have devices that decline to our residual specific improvements were and for systems and reflecting with expectation quarter-to-date. costs to were most $X with the we these inventory migration substantially, and is $XX roughly million not setting performance.Turning of in direct replacing second the do insignificant these inventory-related QX, will costs the totaled by more expanded along strategic in million on key related After half and operating our the able half we terms the this in in AT&T inventory quarter. expect up to these although million costs down.In that were to of near-term, continue We with reported $X be launch incurred track costs. then TSA, in less should $XXX integration-related to million $XX We on to in be and in top-line Of costs TSA than integration-specific timing costs the QX. fairly is QX reported to million. in This quarter. and in inventory-related these million We We then for costs, and adjustments than fall costs QX customer recur. thereafter. ultimately and make $XX campaigns QX, should during on

should HX.Turning we $XXX under savings billion recently was had the million OIBDA of of Xx QX, during our realize cost consolidated our that adjusted net with modestly Rico, $X.X labor completed QX announced to improvement Slide restructuring had cash We Together and and in in which target X.Xx, $XXX of the other beginning basis, in revolving XX. leverage up on of gross lines. a revamped major million deliver way a we to debt, we At thus of leverage credit our which in are well Puerto initiatives QX. on flight, plans, are total QX. availability be commercial Additionally, from and end of our

the lower Puerto cash QX to large which ratio our hand, and on expected impacted activity. given Rico quarterly repurchase increase We performance stock for leverage was by

As adjusted $XXX we this OIBDA mentioned the see $XX fully to million to are leverage earlier, the we we which million leaves second redeem just recovers discount. Group, bond for at under and cash repurchased generation of our convertible improves slight This half.As intend a July. outstanding, decrease positioned in

the well phase excited of completion we propositions a on customer as next in $XXX In yesterday as focus local corporate we the Puerto on are a Rico FMC in previous approved the recovery broadband for solid operating release, market to terms maintained March to customer attractiveness our base bought QX, represented of and migration, systems Puerto migration earnings our terms dramatically of QX. in stemming our in for environment still is our and allows and penetration has highlighted in our move postpaid favorable we stock our is We except been bundles largest repurchasing our And of customer in move our the our the calls, and seen additions postpaid testament primary segments we segments repurchase to grew growth. volumes obstacle equity. an $XX back teams value both subscriber do the operating us back milestone improving now This This the is in second additional ever to enhanced in of but recap, and flexibility. activity. work repurchase our Rico. all million and off authorization.To from for us quarter systems, all broadband monthly us. total. and Since recorded million continued Board also behind highest office to experience, our QX, highest There AT&T opportunities.As as program, have

motivated to methodically is this HX adjusted OIBDA target the and its to team deliver are geared Our goal. reach plans

Finally, channeled convert equity We in to buyback allocation. capital million and QX. $XXX into our

excess is open recent our assume it in we'll it our by deploying to seen disciplined, activity, safe up to opportunistic As please that, capital.With approach but for operator, be questions.

Operator

the question Michael first [Operator with comes Citigroup. Instructions] line of The Rollins from

Michael Rollins

opportunity then first, maybe point the And how times results? and annual from we context? specifically when can Puerto million Rico some some the at if break of restructuring in out XX explicitly are second larger business month with, get that at a affected the there $XX $XX in I'm to where put is could how more into frame curious, half, way then in from OIBDA do XQ kind what Puerto and is to of the where there? to you're run the run integration of dealing you do the rate? to So per And have get have at today you goal to or to it's look point, some the costs Rico get rate just you sense you million today? that kind to just where annual a that are that Is you

Balan Nair

Chris you that first a time, of one-off was we've some and we quarter longest been lot quoted on the payments TSAs. that And for the number million the were the is this a there. costs recurring saw $XX if through of about unusually that's So looking carrying comments, the costs Chris' way and by hit AT&T

that numbers to so costs take very those go after And minimal. pretty you July, X much would if of TSA

see additional for and tech the call Tier our labor that's starts centers of EBITDA pretty X. and just quarter, drops because that third that where X that and Tier just but much lot go a the winding to bringing handle also costs disappears. were one integration And it wind Then second it's Chris in one-off a it paying into costs our the line. we quarter, EBITDA were Then that's to we aggressive, the down stores support labor lot and migration. X fourth So expansion indicated, Those and there's up to didn't happens. down.As of you'll quite our in happening the

the Now million, number. it's monthly $XX a EBITDA

If take trainings in the we're now. do the monthly first quarter the right math you just and that

both to And savings we'll $XX stay so our around expand integration employees plan labor it that taking costs from and will had the the the a one-off as with from that TSA, is out be payroll the happens $XX off think than lot XXX this debt that would basis. be greater probably exercise number show And basis, up.The we million, monthly and $XX reduction to million. it million comes what labor savings, is the going million the quarter, the then it indicated I well, a Chris which on be about and drops, them. of our -- And it's target on $XX fourth, I I've saying been a of cost to And most we savings think but in second. third see done monthly

in that not by So August. you the $XX on plan it's is is month $XX end million more. million sense, from, of $XX and month exceeding we that And take get million That to. And on, clearly, happens the we where year. $XX of the target, let's Michael? would the say, million August makes from then

Operator

Goldman of Tomita Sachs. from comes the Vitor with question line next The

Vitor Tomita

Two from quick our questions side.

Panama. second is first question the would guidance X be for prepaid if reiterate And the just confirm our years dynamics you and for maintained? The on one could is next

the the and the us improve If in could expect volumes that of key in more color were some some a how if disruptions that half more us that lost are if on to on give little give detail QX you second you you still a And amid issue? year? could

Balan Nair

to ask Rocio, I'll Sure. start in to my the as with second jump guidance. colleague, color you well in here more give Panama. on I'll bit And a a

probably and mid-to-high 'XX our We feel hope to propositions Panama, it's this. our I extremely to a as and in the a mobile. color that on much well.In specifically cash XX%. And you'll cumulative free made with And 'XX, just OIBDA. to too giving CapEx those there Digicel available. at shutdown, of guidance. the can intend we our $X the without change as been numbers start I'll of of changes it ground successful in certainly customers And billion capturing see reiterating changed And have single-digit our keep with things our the It's month given are management trajectory that exceed of share became on for well. start We in comfortable better. really over April, teams on number there both tell flat the flow you We've have Panama, through in much

see future a So I very, bright very there.

quarter. The first and bit a first in ask quarter was little Rocio Rocio? the little a give I'll to numbers the on prepaid bit noisy, color more

Rocio Lorenzo

have you loss little a Indeed, seen of bit in QX.

migrate strategy from was I basically think basically postpaid. prepaid is it customers to underlying to right, which The push was driven from trajectory. the past

which coming ARPU leakage increase. seeing to in of of we're going we're push terms improvements I terms to fantastic pre to is some we is operational some for allow think in. in seeing or us predictability, to However, the continue course, were migration, of leakage And making post

So strategy. I the was right think wise, it strategic

need adding we course, new executed numbers we way. from get customers as side, clear in for are to Now it And more in think the which of the be right QX. going much is to digital the I

how is about Balan So said, it we're going. as happy

Operator

next Andres from the with Coello Scotiabank. question comes The line of

Andres Coello

wondering about Connectivity Program or shutdown Affordable I'm impact the the of ACP. Yes. of the potential

I'm you companies school were in is or to exposed subsidies? perhaps not you wondering talking on And if U.S. program the sure I'm thing. in an about this are We as this cable same impact the Rico Puerto the are the noticing same thing

on guidance have the you if any impact. So ACP

Balan Nair

In our Rico, ACP under about Andres, is the low. subscribers it's and XXX,XXX there. Puerto around of share actually a our XXX,XXX-some good is quite question. There's share

small to in And I mobile, X,XXX, pretty And like larger are our think the the relative pretty Rico. numbers small. Puerto in numbers than so are think base less I

So the impact as is significant. us not to

they we and at the customers. we to have have, can I point, our those think decided customers forward, more have to retain because already this course, everything to number of obtain than with XX%-some ACP doing are us. like And going have Of we obtain we stay

that that So which program. from other I program mobile the it's ECF different the described, fixed is think It I impact than good.It's subsidy doesn't sense, business. slightly strictly is a ECF.

on fixed mostly side. it's on So us, ACP the the for

On give did It subsidy It's Department free the what not data be low the have that subsidy and every disconnected for would students was this is to modem plan through ECF, very was that this we of provided a access. to But got ARPU used to disconnect. very Education schools end. much. and a modems a an out came

postpaid we BXB a mobile that So show on our disconnect service. it's

the So started of first whole see in you'll we that And also in voice quarter. the the quarter. It's that like again. like a we as second -- in how Andres, add doesn't I distortion is it about numbers quarter, service. modem service. happening it It have mobile it's indicated, net the handset think XX,XXX not distorts second But kind a for is

Eduardo, hopefully, colleague, Puerto Rico. like would to add in that Eduardo that So any you maybe color? -- my more helps.And

Eduardo Diaz Corona

make us. with said, that through customers, Over of Andres, about of XX% opted a for with that share rest we have I And base ACP in they those question. mostly our to low continue XXX,XXX, would have -- your fact continue working sure services. the that to the is already of just as Balan you, Thank reiterate the we're actively fixed.

the taken see X ACP the although at mention is in May -- that the as or X following will different is closely. that a certainly, we and there maintain being very base we us with And now, to program it subsidy. with Congress to sustain end would So the working important the under low believe of say least in at very that have that And I that risk, But in customer we're future. we therefore, that the right ends a those continue partial will we're be assumption future. actions

Operator

from Research. next with the The line Soomit comes New of question Street Datta

Soomit Datta

quickly adjusted the monthly me, please. I questions Can slide, million the to XX. $XX A Puerto of I for couple looking of OIBDA, it's think back go just to Slide Rico

integration one-off of sense costs, kind quite we don't if a add trying the those Just get to we to back $XX get million.

of mentioned bit you coming well out. there's as think I headcount a

again you monthly be then do if XXXX, Just into we and get improve beyond given as thinking expect to continue revenues the would Rico. towards -- to, Puerto get to to again, a presumably, that much would million assume, you looking that in momentum $XX move base curious, you how moving revenue need to would I view OIBDA?And

right be please. Maybe be That's leave some a to building way will thinking OIBDA pre first the there. well? question, that kind of on base, additional I'll as is about the XXXX but as that that So

Balan Nair

already way I you think, right math the Soomit. into the think the on Clearly, this, back when it's you're do to hundreds.

on on low-hundreds Just based second slide, just that. Chris' on already that, the in hundreds quarter, the EBITDA, in we're on

get of are. for the to So million I'll is to addition to kind the where you're EBITDA $XX this. so million, $XXX need in should and happen -- the you they X things land what really One quarter.And to tell in

well. as a are we planning The increase is it's first price one --

drop to going the EBITDA that's directly So line. to

business the We'll of to to our top-line, growing in will need the start mobile. especially course, recover. Secondly, need

grow. see, can our fixed to continues you As business

green and seeing will business So the grow already shoots. we're mobile

much doing, I months think April you, kind we think of Chris alluded business. of looking second quarters, acquired numbers April I I'll are tell our our our that. we since are prepaid, giving already quarter, the our to better better. without In one better number

selling. to physically of you of most, well systems, this assisting All everybody quarter. have our teams we to little centers IT not a would to in first errors we billings. lot you And customers. the our our on our on all actually know just questions has team, handsets sales move systems, that not the think spend is kind other the And time customers do focus Chris need but our incented I the upgraded people, thing mentioned and billing network when we because know of And that sales the migrate the that latest and don't So be like is a if Android. bunch whole of We picked happen. in up I stores, app.And very just to had a paused complicated migrating all, call not migration on to versions in the

they and implemented, get already already. quarter, when they've yielding though in paid part and we the of one-time all plans fact, really into already that completed the the our half, together second plans weren't Eduardo good our of team have of migration.So first was prepaid was a that because put in his As that commission but some some certainly in first is the migration of XXX% cost even just matter sales we our team the help customers as selling, to

It's of combination It's done. So integration. us it's stopped. increases. take-out. recovery combination TSA a in It's a business. clear The It's was a combination We've cost of there. mobile checks very being price how get of we on path our been to

Soomit Datta

of just clear. yields, I in one very kind And for since market. put please, then a kind of you Okay. quick mid-term et guide, refinancing. there's That's in maybe the moves been out on some guess, the cetera, Chris,

has implications kind in -- timing know I years? guide of in financial terms Just of curious, just mid-term place. is perspectives refinancing the changed on is anything couple of still wondered or anything either next over I your the of

Christopher Noyes

I'd No, is Yes. be a it, recovering terms looks assumptions over the they're which the maybe refinancing of to backed No going question. our, change opportunistic little XX. Thanks period. mean, up real in like months, the our call but on rates stack, the X for over bit to some. it We're XX forecast I last debt

Wireless as the need most open, into to still would a and go market.I on this to markets will we over start more before XX months. in next, years stack that debt Cable think have & at with we become that of out favorable I'd it, we point, number call So likely be the

the point market see You'll at maybe in several times. some us

right just opportunity. for we're So waiting the

We in this & Wireless have great at momentum time. Cable

better credit just zone that think to in market. the probably we'll to the the the a Puerto financial metrics in will get later think going given as better the as wait horizon I is mentioned for be refinancing And on only we've have us I recovery. we Similarly, Rico, go. before approach we

Operator

That Balan for and additional hand will remarks. would or I question like answer conclude to to any Nair today's closing session. back

Balan Nair

things. Rico really and really a Thank our I excited in looking up completion Liberty if are with One, even few path. our operations, and really we what, -- at things good of tell for us really can subsidiary, other we all the Panama Liberty look good. excited Rica we maybe Caribbean, operator. Costa you summarize are the And you that a whether Networks are And it's I it's in it it of in done with you, the migration Puerto are in sets if and

And fixed so we've got Puerto We the whole Rico. operations moving. up

half confidence and second last going when very buyback, Chris look firing you you at clearly, is And The shows see think you'll the and management business. to stock then the team our my whole aggressive saw feel pistons that I here.And positive. be all I about quarter, the

the print actually of well as really end LLA. buying seeing you'll We And saw the XX this first bright is really months, insider You in some from nice by here. in start XX, year, not certainly, the the quarter. think next future of the but some

and for have much a so support, all your day. you thank So great

Operator

Liberty Latin America's Ladies first investor and gentlemen, concludes call. quarter XXXX this

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Liberty Latin America (LILA) 8 May 242024 Q1 Earnings call transcript