LILA - Earnings call transcript Q3 2024 | Liberty Latin America Ltd.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, ladies and gentlemen, and thank you for standing by. Today's call is being recorded. I will now turn the call over to Bill Brierly, Head of Compliance and Ethics, Liberty Latin America.

Bill Brierly

Good morning, and welcome to Liberty Latin America's Third Quarter 2024 Investor Call. [Operator Instructions] Today's formal presentation materials can be found under the Investor Relations section of Liberty Latin America's website at www.lla.com.

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

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

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

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

Balan Nair

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

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

you can at our we will and both As working www.lla.com. Starting our a slides, X website be housekeeping, on point which highlights. from find on Slide of

a This adds, complex our migration over postpaid in broadband and progress on robust where begun presentation. Puerto later project. to mobile added Rico, our subscribers figure year-to-date. have share I'll color following have we high-speed further the XXX,XXX recover XX,XXX excluding We was

of a the Rica. Hurricane adjusted OIBDA Caribbean C&W C&W adds This Liberty We of Cable & Caribbean, Beryl. net year-to-date. as in $X.X also experienced reported in quarter and growth Wireless billion result Panama during some negative rebased We includes Costa

adjusted billion We anticipated BXB credit senior to Cable issuance $X our improved We refinanced of in The driven notes by expect last QX, Wireless silo Puerto our the significantly OIBDA Rican results successfully silo was & oversubscribed, month. and performance operations. in strength. accelerate reflecting

significant we see value and excited where to Finally, large to market an potential shareholder more and Peru. that a built growing is inorganic provide create in details explore footprint continue to value. to been we've and drive fiber ways investment cultivating regarding This have we are

to subsea We announce Sparkle to are also pleased our the pan-regional addition of system. new

Turning Caribbean. operating I'll begin our C&W with X. review to Slide

operations additions. left the affected present On we the Jamaica, Vincent our broadband We the adds X,XXX and mobile Beryl, further negatively in as and which Beryl QX the in them. Hurricane impacted would positive, we Jamaica. our July. Adjusting mobile year-over-year St. to have sales event Internet There of an ensure to lower in net working impacted Grenada, in quarter. in the to anticipate increase QX, Grenadines of event, early slide, this postpaid access in to any are particularly mobile impacts Postpaid sequentially as but however, adds, customers prepaid in hard efforts. outages, networks was, although were adds minimize wanted broadband and RGUs by were for added adds

Moving in our by year-to-date, rebased particularly revenue to we momentum, continued driven generated growth center X% of consumer slide, the mobile. the

both year-over-year the growth, to our sequentially in delivering Finally, colleagues faced despite OIBDA QX for I challenges they adjusted quarter. in and in want recognize C&W the

slide. the on X Panama Slide C&W to left and our the Moving Starting segment. of

footprint solid and revenue robust fixed of penetration subscriber to and quarter drive adds of continue delivered another We growth. Internet our

those of earnings of quarter rate became trials of provides highlighting our across continue normalized returned first XG an last the connectivity homes passed more driven last mobile, to XG a high-speed grow second adds infrastructure. In month, network technology XX% And however, postpaid than more our to passed mentioned our FTTH market. exit base, fixed via by following exceptional launch Our presentation. majority homes the in Digicel's we our operator from to the we the in our during market. We Panama, leadership with successful

to the from line top driven Moving positive all to Overall, coming our we slide, X% in the center and product Panama anticipate contributions year-to-date continued with continue of have build growth momentum areas. growth. we

Slide challenging subscriber Rica. Liberty broadband another on Costa backdrop and quarter against slide. the Costa Turning delivered of to in X a competitive adds of solid We Starting the Rica. left

towards to sequentially. close quarter. adds XXXX. In milestone X Millicom, strong our of combination by another mobile, subscribers, the work we We We agreed will and with end the reported of above postpaid we moved year-over-year higher which with million continue net both completing anticipate

XX% XX Over our last representing growth the almost over postpaid months, subs added market, base. we've an XXX,XXX in in the now

we the X% mobile. to growth healthy slide, rebased by reported of of Moving led center revenue year-to-date, the

Next, to Slide Networks. Liberty and X

and area On the this Enterprise the growth revenue prior year-to-date of slide, current present left continues in to and was basis. segment, periods. a of higher year be we on X% for the rebased our fastest

growing XX% revenue, shown unique and revenue. underpins the future of a beneath business OIBDA foundation IRU we in non-cash bars underlying the the revenues, which impact IRU lower conversion As year-over-year quarters, this Liberty over strong prospects. The in to cash with of the of Liberty reflect growing our Overall, Networks. an building our demonstrate from for specifically, is continued $XX wholesale Networks and OFCF business This prior conversion declines. Despite we recurring characteristics are headwind business, resilience, metrics non-cash modestly. highlight cash wholesale and with business a million infrastructure

very about segment. Given these to attractive has financial spoken this Networks a and invest we Liberty characteristics, previously opportunities profile, further in have the

will X,XXX subsidiary its will Italia enhance Gold right this new the system's with in our an the region. Other a States, cable low of between vital Telecom addition of we partner the to project. will Sparkle's system highlight a and integrating in the in On creates pan-regional value with routes United This Data, presence side mesh access routes, future-proof enhancing excited wholly-owned are infrastructure ensuring Mexico the subsea system. given highlights that hubs, we kilometers, that on extensive latency over new Apalachee create the investment data slide, points new will the X and Sparkle, We're share major to spanning ready. and powerful new we landing Veracruz connecting size and be of

innovations building growth Latin U.S.A. and a cloud to the the demand are the the ongoing America serve Caribbean. system the requirements to from the AI hyper-scalers related to and will in We traffic from rise shift in that incredible and

and the Rico, Slide the a stable X to of churn. subscriber starting Internet Turning adjusting for reported slide. left We Liberty adds ACP-related impact of Puerto on of the quarter

previously most keep indicated, managed through we ACP targeted subscribers As retention to offers.

QX the However, adds impact, there for X,XXX the during who adds broadband would in in has we this to the been lost left first have impact subscribers and with subscriber quarter. X,XXX some half. Adjusting net had

of strengthening partly XX% was mobile, lines. continue leading XXX,XXX lower fiber-to-the-homes XX,XXX aim fixed invest Rico third during We over quarter, in driven of total our and the our year, Puerto business to representing passed adjustment postpaid approximately footprint. In end the in of base a our to migration by the by have approximately

slide, more the QX. transaction second LLA. In Boost early close leading these by begun we of in cover is note, that bolstered success This In our in commercial slide, the should on consecutive we've product Owning but talk September. the quarter encouraging Rico, the feature green had mix converged to and in the shoots following see a proposition new prepaid, other of a within XX%. done some with the Puerto have signs that of net now financial his launched be the fixed now migration We greater Chris strategy adds as in a is following detail revenue decline momentum to of called LOOP. subscribers we and further mobile Puerto differentiating the for performance of EchoStar's on by leveraging of parts is and addition in core successfully this platforms section. Liberty will center our year-to-date have centered of we complete. I'll Rico show

early around. Starting XX. mobile Moving our average represent chart, of our and to some indicators share we Slide turning left month. wanted of the the that per signs We with sales operations feel to

we our first managing force to half the can we in focus to was navigating NPS the closely. This encouraging. In prepaid performance our of of challenges. Encouragingly, sales in improvements levels. while eclipsing which sell thereby significant saw into less well, indicator a QX needing which the is see drop-off time across time very with October, we as XXXX our having sales is the sales started this as levels impact some spend of efforts track prepaid Here, back XXXX experience center more postpaid show postpaid we that queries, XXXX migration-related and year. we showed slide, on the XXXX customer above migration In and leading result progression, to now

are points We and postpaid for prepaid. and significantly of better the than pre-migration low above both at the levels now the year turn

increase in low. October the have our percentage significant December we Xx a Importantly, promoter seen with promoters in above postpaid

work customer this experience. doubled Lastly, from reflecting from sentiment. to on of customer levels, been more improve the pre-migration the right of The the we stems This metric platform whole has the slide, stack. This, new the have integration network of coupled migrating than a doing with billing this transaction a whole legacy corporation where with needed unanticipated within many a large brought problems. AT&T, carve-out we from nature to a build and new complexity

the planning cost OIBDA to acquisitions, EBITDA. as will through XX, We us plans the adjusted remain there, record we improve with future longer-term and market our are To that, recovery C&W FMC said and NPS opportunity highlight and with our delayed to of of the and cut growth expansion. improved positioned achieving C&W larger-than-expected we in are Leveraging commercial recovery commercial Puerto we with will and require Panama However, in Slide which pre-migration up we Rico. On share. The will targeted across capabilities, our savings, XXXX, segments. other Liberty our Rica track organic required our and execution. Having churn has as to grow platforms, now combined for Caribbean, investments phase recapture confident we costs improving inorganic our technical for. Costa sets get

been have achieved the of operational strong XX from implementation months, execution. In broadband in OIBDA Firstly, has XXX,XXX the adds. an XX%. an of and of last on and This has which adjusted of CAGR example the we driven as to effective net period the postpaid offerings, by left converged mobile the XXXX product over over full year taking slide, C&W resulted shown Caribbean creation

driving cost efficiencies, focused period. the in X We over point achieving an also margin have improvement OFCF on percentage

the in business. of of XXXX an Moving in the C&W successful had migrated acquired adjusted acquisition platform the integration. of By and the we slide year, synergies. The from we Panama example had cost Claro's benefits this Claro center significant of is customers financial to and to business mobile significant This the we acquisition. when a closed of a the middle common adjusted minimal OIBDA

here shown further growth revenue. of the levels is reflects synergies as so in above through we improve percentage And rise QX and to integration. achieved a XXXX expected OFCF

an also see periods and We our market position market. fixed as constructive the given story the structure this for exciting organic in coming underweight

Costa the approximately example Liberty through is entered initially generating time right $XX on of Through the of million integration, during controlling of we in the to Cabletica a to Rica Finally, OIBDA year. operator. This the acquisition, $XX of of which in market successful Costa converged XXXX, Telefonica's completed a of leading another we At million slide, the acquisition our mobile stake a business operations in Telefonica acquisition Rican XXXX. created was XXXX. adjusted we the a

And additional synergies. through driven so significant we've value

operations million of XG grow launching and to market. postpaid to cement the mobile continued position year subscribers have further earlier X the at forefront pace, our a surpassing We at this the tremendous

Puerto record had targets. integrated is primary our much compared longer why have anticipated noted and is the to the our operations. The achieve than transactions that grown track nature on shows this more it we to we complex reason Our acquisition of which successfully slide, taken Rico has

have in Puerto However, record gives our begin see as will we improved to in that Rico track other results confidence markets. experience us we and

opportunity. and inorganic made have aggressive We we Finally, approximately million through greenfield XX exciting an in investing an outside share footprint, pass WOW nationally, driving exposure outside potential, penetration people Lima. penetration approximate Peru. Lima. In the With provides short fiber-to-the-home to market and business XXXX, low WOW X is in broadband its began million and market in which has achieved XX our XX% a now move XX market a alongside local provinces in in those XX% bill, in an and period, a Slide mostly homes million the also size around demographic XX. Xx significant In in and age is at more homes median its it with our total, a than has much with with growth very Peru given than fiber. Peru consolidated the It been XX%, of footprint. Internet line current market successful market. young largest in larger of to presents a population large a a the region, has partner

was we the Year creating brand. in and LATAM of a Operator Connect WOW exemplified Fiber are awarded as Finally, the leading This business XXXX was LATAM Awards. Fiber

We are who our excited will you this we to pass Chief move our Financial Chris investment. With I'll financial Chris? before to about performance, your over Officer, through on take questions. that, you Noyes,

Christopher Noyes

was by billion the at our in adjusted to on now of in in financial revenue in to improvement in reported OIBDA from in and quarter. you respectively. quarter Cable XX. Sequentially, revenue adjusted X% and IRU Rico due sequential and was less Networks OIBDA revenue performance OIBDA X% take $X.X Adjusted Puerto grew revenue project driven Panama. the Beryl reported lower by and The Thanks, & Liberty starting Panama to third partly and accelerations, I'll Hurricane million lower through revenue Slide Balan. group by results, our and $XXX growth with lower Wireless, was decline QX driven the impact related

adjusted in was in an performance Revenue basis organic OIBDA organic offset C&W by Rica. With on growth adjusted Costa Rico, rebased Panama and more OIBDA, organic driven year-over-year. partly Puerto and Liberty in by respect offset Liberty reductions Caribbean Liberty than to Revenue X% X%. Turning in was to reduction by was a growth lower primarily Puerto Rico. by declined

our the Slide FCF to XX results adjusted third and Moving P&E and additions for quarter.

prior million incurred or P&E On $XXX we XX% the the period. of in additions million year revenue left $XXX in of of slide, revenue. XX% the or of to This QX compares

XG after to upgraded $XX the in $XX with built nearly million launched in This these During totaled of compares distributions quarter the Costa million XXXX. to Panama, we million of million, Distributions QX, right, FCF XXX,XXX FCF, distributions we $XX reported Panama.On FCF or for partner Adjusted adjusted $X $XX and QX services partners $XX in in million was adjusted in and QX. Rica. homes before result our million

Looking costs fourth segment OIBDA C&W results. positive to the performance recaps by as well should of as cash seasonally improved adjusted its on result and flat adjusted OIBDA given reduction we OIBDA deliver Hurricane $XXX of on postpaid impacted $XXX capital. Slide reducing our propositions by the adjusted on quarter. a penetration focus respectively, increase flow the year-over-year and our working rebased in rebased of we revenue very BXB, of the operating increased prepaid with Management's in year-over-year organic million, a higher Beryl strongest growth, Caribbean, million offset quarter, drove good we over X% XX our following year, convergence in driven fixed by reported of basis. Mobile expansion. as posted an XX,XXX in adversely contributing growth QX, BXB. We fixed price a was increases. basis. revenue is OIBDA mobile driven adjusted in performance mobile the X% declines of representing ARPU rebased and X% storm fixed was subscribers and Starting X% to

adjusted by to year-over-year Our basis over improved OIBDA XX%. XXX points margin

offset handset in $XX be of the million we X% by million fixed revenue year-over-year. sales. Next, X% XX% Claro mobile growth, anticipate a and will broadband moving of and in generated was QX, by adjusted increases by driven RGU in from $XXX more phasing revenue. Growth Panama line fourth revenue by Top fixed Panama. was year-on-year growth some project-related to of mobile Wireless & executed government-related revenue, representing XX% Cable posted in X% of additions lower driven BXB BXB of declining in fueled declined in the of in CWP and decrease quarter. We OIBDA from ARPU which to due and projects, synergies costs than acquisition.

million non-cash lower generated in the was primarily a $XXX We OIBDA, X% revenue rebased X%, resulting in amortization Liberty $XX respectively. Top impacted in quarter by performance revenue, to and of line IRU by bad revenue and was and $X continued to customer. BXB of connectivity. Rebased Turning in due Networks. in reduction declines million driven enterprise adjusted in growth services managed non-cash the one by higher offset OIBDA year-over-year, large IRU-related expense debt revenue higher from and driven partly decline adjusted by million

to XX% down fixed $XXX from on rebased QX Puerto decline Emergency revenue Hurricane following the quarter, driven over by and cancellation a million, subscriber the Rico. Rico equipment for was $XXX declined mobile the OIBDA September to basis. decline the credits a XXXX. Mobile postpaid the in to Second following XX% year XXXX, Residential Ernesto, disruption the on following This launch volumes past lower retention-related reflecting by benefits was impacted reduced labor delivered right, $XX We year. BXB rebased decline reflecting performance a debt, far of result the to revenue FCC's adjusted rebased light the in X% was revenue rebased Liberty X% discounts iPhone reductions reorganization. Concluding to mobile debt of rebased a revenue on the the direct of compared migration as sales across revenue, tower QX lower bad of rebased expense the bad and during a lower basis, and higher to X% a handset basis, adjusted adjusted our of the XX,XXX was right, quarter. Adjusted by of by lower mainly with Fund, lower Rico million, $XX migration-related basis. customers and previous XX reported OIBDA ARPU on of iPhone a XXXX. increasing HX driven Costa million in last The partly which sales impact of XX%, Puerto year-over-year. million lays reduced OIBDA. higher related year-over-year year-on-year quarters of OIBDA rebased of X% churn. We positive QX in all XX revenue customers, Puerto reduction XX% and related issued sequential which TSA sales. On growth cost in of in including in representing delivered X was subs compared XX expenses improved base, OIBDA and X slightly performance related Negative offset costs, decline and by August declined lower indirect to primarily adjusted addition of and Connectivity revenue equipment on our by led to adjusted reflecting our both terms in we decreased lower the by in Rica a revenue lines out a as driven OIBDA. costs driven a business basis. Slide

For gave $XXX subscribers in relative customers to revenue by QX fixed stable I the we $X for wanted out fixed million acquired and of QX impact and in million call million in of revenue, million total. a the a The Boost QX was in was total. to residential the September. $X Relative was lower about XX% driven items. Residential mobile to reported revenue, the QX, million to revenue $X revenue part of was or in $XXX inclusion million Hurricane fixed due credit increase ARPUs. Similar QX, of Ernesto QX $XXX the XX% few to declined or

revenue slightly revenue revenue. BXB to remaining broadly equipment was and and and XX% or lower revenue flat roaming consists mobile levels. with million, that, offsetting The QX of of other higher was Excluding flat postpaid $XX

declined million. sequentially FCC $X revenue Our by

collection with last we decline have million improvement the QX, of $X what bad $XX Turning OIBDA. was customers. Compared baseline. as work sequential million bad migration was million, debt with Impacting we quarterly in and through The debt improved, about would especially normalized expenses. to consistent operating $XX we still more the still to but BXB processes, elevated than million higher a components billing adjusted $X our and from the QX, consider

quarter, and significantly dropped from expenses TSA $X which in the had of quarter. the we integration-related prior Additionally, million

revolving on and QX gross of net Turning $XXX availability QX had OIBDA. driven consolidated we of a QX, adjusted lines. million leverage the and We by of of of cash $XXX debt, X.Xx end credit from to Slide million billion XX. leverage had $X.X X.Xx, total At a our of under modest basis, improvement

of well end of secured XXXX Following October, which market, in in $X and a in received secured as We in maturing billion were Cable $XXX our senior to senior more at million quarter XXXX. million the the Wireless October than highlighted bonds coupon The used X.XXX% raised proceeds of notes. by redeem senior billion our net outstanding refinanced full with & Balan notes XXXX $X.X XX% new a earlier. our we part, XXXX $XXX issuance, was notes

LLA cost a to monitor our as we XXXX. weighted & weighted of expect at conditions actively and years further only market a our the would debt point remaining capital extended As Cable to over average XX XX credit to result, X improving We increase basis XXXX and within of refinance months, life September next average roughly the our structure. bonds Wireless

many had of seasonal than Moving BXB and to building clearly, momentum and we much in of underpin with QX slower financial in anticipated. mobile the Rico, both been is previously remarks. our subscriber growth, Year-over-year coupled Puerto performance. In pace recovery should closing operations. tougher the final strength has our our Operational and slide

became this that positioned. available value propositions fall are attractively consumer Our

commercial performance QX. adjusted we to expect on in focused OIBDA are regaining We quarters, momentum see the and coming in improved

February. With this for of everyone for we it fourth remaining terms installment to in business. cash next look and convertible quarter and have results the up Rico our Echostar our in are strongest for million the capital quarter X of with the support open and of as sharing $XXX of We Balan are items deployment, million bond we a of LLA, Puerto very year outstanding accounting use. active of investing quarter to repaid Peruvian the USVI. And have our million with $XXX we had mentioned, Finally, Overall, the roughly driving questions. initial $XXX to build-out transaction in funded about and excited forward about operator, fiber-rich our opportunity been that, the please

Operator

first goes to Goldman The Tomita Instructions] of Sachs. Vitor [Operator question

Vitor Tomita

me? hear Hello. you Can

Balan Nair

we Yes, can.

Vitor Tomita

Okay. Perfect.

Rico. is question Puerto to capital not slower-than-expected the related to my So allocation, in injecting you to to recovery needs though capital in the from related business operation you and time, the already the Puerto that on Peruvian event your a open allocation. group really fairly to given in in Also Could be would years it ask last short in allocated capital that such there. on operator I The a for market to related support a reached has share Rico has support more follow-up business relevant been to over fairly would future asking give that if the color the X strategy relevant became a there. how much build investment? capital Peru

Balan Nair

Sure.

Chris and Rico, Puerto here bit as well. in a in jump the On I'll ask to

Our on intent our side. the operate there is way in to Rico Puerto cash

We implementing are cost cuts.

stack. on working are commercial any at support acquisitions. Rico other really the Puerto very from of this hard line having to targeted We revenue and We anticipate point don't

you answer, into jump to do I my Chris, maybe, Peru add Before that? want to

Christopher Noyes

we in the we're and Rico manage those a Puerto done in off that that business. working continue more QX keep way in accurate. close the in do additional we've stack, AT&T one The that's first watch we've a in I is to half handset quite did to several I capital been on manage, did with thing we that just we of think No. well securitization mean, can of effective spend the year. now the I and think, We a able liquidity, we had the

Balan Nair

put some. at total on it has fast. now also that And we have there. so our for about equity a been in is And very we've contributed the Chris. we've million. And put entrepreneurial And yes, clearly, bill X -- into that the the We bought total team cash Peru, business been Thanks, about the very, partners $XXX years.

outside We cost in investment clearly, bill that reason about targeted paying been are pass well. future and sure, those per drive technologies lot lower that we've And investments really a is our competition excited per working broadband, low very And -- -- on Peru. penetration in of Lima. think of a the basis. less And less very for with the interesting I we the home And areas. we're being some off prospects that there for that purposefully strategy quite

Operator

And question Roberta Instructions] Citigroup. to Versiani next [Operator the of goes

Roberta Valadares Versiani

opportunities and one understand I could market? financial can looking how I Liberty current converged performance be, in going would just if operational could how convergence wanted metrics in second And if at is on the offering forward? And to share impact XG any subs may, on in addressable you bundles upgrades if and markets upgrading along you -- how could share to how revenues? on impact at or -- expand upgrading market updates XG XG the these far you and are main to and

Balan Nair

where One, XG DOCSIS And more the other very I'll I'll the Costa have acquisition the say the And Caribbean network. well have Sure. as in that answer I'm to lot and give been been to you'll your channels. because made the are as same course, our with well. And to And ask high-speed team, is on and you our reason it. and Claro very say of we've Liberty play, little more part advanced on though it network going we've convergence, in strengthening acquisitions Telefonica both And it we've the indicated Loop Curacao with this color we've more to bundle. has to acquisition we Caribbean. I'm applies because X network the things. in launched very a I having interesting sell mobile, the championed it it we is together working his converged our earlier, Liberty is the in through thing on we Rica that maybe a me in going the in very Eduardo, mobile help AT&T would Panama General X.X and to case some high-speed Inge or Inge there. fiber-to-the-home give Even bundling XG, Liberty on that digital a Manager, then high-speed Rica, and of the success really in color made is in we've and we high-speed Panama Puerto ask a acquisition, approached Liberty a thing must bit Costa our area. question idea broadband called how with Rico, Caribbean XG find even XG, That converged our I mobile

Rico. Panama So in Costa we launched and well. XG, in on -- we've got upgrading XG as are Rica, it now in upgrading Cayman We've Puerto certainly

and think very going market to spend about market. Clearly, to in the where spend we XG that the you there. be investments. talk We is bit technology, both very, in invest markets we we meaning we're jump in judicious ready. about In function leaders a Costa are can Panama, that Having with careful XG in XG and have too as the in consumers in our also don't we as FMC. ready, Rica value support are and in enough make your of are is we sufficient, that sure of some that, capital Inge, said success volume, that mobile, is continue and very far little a where ahead we our stand can of market when do in we well where in the make the It where handsets and

Inge Smidts

we really of years which X market every the region, market, we've single Yes, different. in because pursuing last single within X, offers, adapt so is Caribbean, been in we've been whole every the the course, converged

for then will We segments for it's called over look reaching offer, and XG. are today converged we consumer & it's at we including postpaid, it's really, working adapt have so really the last example, called It's and like, less averagely for or we can converged in we that. And Road, a example, and between Mania. we Ya'ad still been launched go percentage really do Flow XX%, really and Jamaica, a and offer it's our the of data X us. Similar, executed and years, -- offering, more Cayman, we a really

And country, country by offerings so we converged we it. adapt and go

the Sometimes we adapt conversion, conversion. and for it's us. start mobile fixed we And we from the working do really go-to-market. our fixed out, really mobile do sometimes consumer And go and we been consumer from

Operator

[Operator Mathieu Instructions] Robilliard Barclays. question from have a We of

Mathieu Robilliard

on Puerto follow-up I question a Rico. had

you the how things you have costs million. In it not have $XX QX, really has at deck of but look second by revenues trying around slide an from from EBITDA developed, moved, the $XX grown in and to the I when million. time million of think So quarter, identified the and EBITDA I migration-related of QX sort $XX at about deck the and QX led understand slide the had to the QX

it to that in actual, really need improve $XX suggests if target, order which to $XX have line. take anymore in the of big I order really in acceleration costs top don't is the million reach only then the But understand revenues not the a to So move, EBITDA. away you you million

in you I And so and least at competitive. financials. is, top confident market can accelerate more before question guess realize the become a things sentiment be my has how but improved, we that I also NPS has it takes can these it my that bit really experience, translate that because seems customer line into years

Balan Nair

if it I way. this Let me see answer

different the another in related. comes areas. a also certainly correct. from the cutting Your math are And from addition -- round number reduction of to island. And in tackling that approach given to are of revenue, the is we EBITDA cost we recovery cost are that approach synergies I we in we've of indicated non-growth the on our is we some done in areas are the way the the transaction, way cutting going

and we operating team finance cost cutting budget. And build my some through into touch our growth, with that the XXXX are team, identified And -- scrutinizing so to costs that going any anything and every line it's our item. going we've cost build to going together combination, doesn't my we're we're that

you will get anticipate, the as you not already pre-XXXX means shared, numbers saw we now levels, at as pointed costs our sales We invest out to there. We selling which the out, into we coming do just are Secondly, in us is in. have growth. taking that clearly, and

to contribution. mobile the we have sale. things low One, first in X of postpaid the Now And in EBITDA acquisition world, clearly, that and the of world, sales has cost mobile to. the very manage year

only been on certain degree, this is the 'XX, down. a way show in has the moved to that's but 'XX. why we $XX To we've approaching it want in grow will sales million maximally up So

BXB, focusing different we the on are on also we lot non-mobile at number opportunities a sales front, BXB, are and more looking there. of a Secondly,

lot Our BXB grow million is business more. a that will about $XXX

are had then partners growth a have the years we systems she which there business, look that X working number to when goes, we've so that's converge throughout where of last very a been we as AT&T, as with our that we BXB And has never do good to the products. share a projects at well which in space. And able never steady number our we're of to and on were of business with a and very, very fixed good combination good been mobile, really the product. able fixed these And

commercial place sales if which they now looking customers, broadband call for sell to but have to have putting Liberty every our of if our And is are for subs of number them teams every see we and Loop, really broadband we are We initiatives also this that they to what incent now mobile. our product. exciting a see in mobile our to at of subs

of here how management a get I that feel different to my EBITDA appropriate there's want back lot moving So the business. this team on parts on and for think I is we

Mathieu Robilliard

you're on transition context XXXX. mean, -- happened than you If That's I you in at some the base color as Echostar integration can to you looking what you obviously, in Or much a to subscriber helpful. that integration? I AT&T? mean, things that their do easier But that upcoming I that into realize a how you system. point are I with follow-up, of I mean, I had any could case, the put have bit operate in will the feel it's with could if give learned? AT&T, of difficult you very there

Balan Nair

Okay. to stand smoother. done. X One, while migrating. we is and it We a more up That's we were we points a why and I'll give it lot this now. operational network be have AT&T, bought had mobile you get going specific network scale a to and when didn't have already we

have we So the network we can migrate to.

IT it not within strategy Second, network bought network business. Puerto and and AT&T mobile is an because when we scratch didn't the a stack build stack. American lot IT if would stack, everything had business business. have IT the we our then we the now fixed it this an acquisition, use recall, if the Or networks mobile stack to else we did this moved we part At this to to our whole in mean, had the mobile in or business. When new our that the stack migration of we I as more the did United stack, IT Both smoother, Rico have change AT&T actually IT existing a have have this reason sit but was didn't we that We able prepaid. were and from you all is not conditions network. And acquisition an build was is have and States. that a we IT third because the point, that on

So lots of with there's experienced from more AT&T. in migration that we complexity billing the postpaid

may there working that things So makes are actually that we network worked are work in be it that as network. our network. easier. not to Ericsson the a T-Mobile we handsets those It's because the X well, lot some on on DISH of sure But number things have do a

handset are really the So is in migration. our closely compatibility going concerned the technical in sense, thing about am that to that probably and very work I teams only

Operator

to goes of Matthew The question Benchmark Company. next Harrigan The

Matthew Harrigan

talk implications? don't that? that's election There's implications well any then the de Obviously, I dollar. you an is mean on in XX% the Jamaica -- your And very structures Can composition vocally talk capital assumption At pegged dollar. were point, U.S. operating on us dollar in think above also the currency -- Trump that? at strong you -- certainly had update I markets that or pegged. you one I a facto you any think least implies to about for prefers. about Can And what Trump's Jamaica,

have significantly So presumably, are a on But the have dollar? we your there tourism business and good you translation. then bump how effect countervailing did you have about a if you the thinking stronger

Balan Nair

put haven't on the already this. like out, things. analysis Most we say lots U.S. high Matthew, -- dollars. in I'll a behind you we're XXs, XXs as few of pointed

like stuff pesos it's So Chilean hedged that, and where treasury have volatile. our exposure Chris don't Noyes a is has and right, less. only our having that, We we not But lot very but of the but hedge sufficient liquidity that's -- team of that. currency -- There exceptions, are operate, on to do us. we we and also moving not to needle the where hedge it's cost, couple said most a

one a closely. to elections and going you We're President-elect Chris, the but the dollar say, there's indicated adjusting CPE, on and do reflect forward. this, budgets learn be equipment I not of the weaker equipment tariffs. that at any -- it's see, equipment our I and he to is side, a had is be helpful. What more. network not but add import watching new could internal that we to handsets, look be of because of of only knows, that, going from anything? do for that try lot could we'll That, think, equipment does publicly on any we is U.S. especially wait going Asia, to How there's course, Who on thing, want to equipment. are is he helpful is currency the so And would with high it?

Christopher Noyes

look it's our when Most you say, of businesses at and Rica portfolio dollar Jamaica linked, the U.S. that assets, really of Yes. are U.S. et dollar Matt, us. float X I would operating other cetera. Costa are our or peg for

bit Rica been particularly hasn't currency last have X just over the nice of has quite So we strengthened a much. actually and years, a exposure has X similarly, been stable has depreciated there. The the Costa And years. last little been over Jamaica

of payment. that debt do we good from when think have we I of So mix components then assets the really mismatches hedge perspective have, we we and hedge feel forward we'll from the a and we can, do where

Operator

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

Balan Nair

was, on Thank before the things it of during a this we this and we Rico customers I future, really thought in clearly, was between came couple management of those period. Rest what quarter over is a some surprised were One, quarter. post that And The say I'll reasons all learned number in for performance here and the management Puerto not Puerto There were last we on assured Rico a is that recovering the you, we that maybe team close. operator. bright. team migration, in focused think, lot losses. surprise,

Some transaction all it? I very the that lot we would to when large systems migration, smarter their you a from again, have would. Clearly, a I have I legacy would over asked about it's me are it I are are do had corporation we've in where lots we something if billing done buy learned very run to did tell run they are that a than anticipate. can lot fix we of the would the you different we this, the going lot, and problems. a complexities But There and way and of not business. how -- we

new complex well, huge has paying transactions solve cost are with opportunities as opportunities going This investments in of business, are hard Caribbean, afterwards. top will that our cutting. get and of something done work tell We buying line The is part network Liberty the that can create growth green building that that this of excited network The in integrating 'XX. cutting management Peru. And I'm to off. both Manager it the A we'll And the we in it I already about my you, from in and from see really did our in buying something shoots. We're it. Rica. then and our that seeing all subsea integrating team Panama, remaining Costa you cost we lot there can and Telefonica runs Claro General

growing future of So our seeds and already We've operations we are planting improved the growth. a for lot them.

excited can challenged, really to I as operation you well. grow that's support. and going And it are have through bullish about we I your and that you, future. one to From fix that We tell thank it, the sense, going right we're and for we're get and now

Operator

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

section will reminder, a find the There can of materials. copy Thank of a also As the Latin Investor presentation Relations replay at www.lla.com. Liberty a available call in you of website today's you. America's be

now disconnect lines. may your You

Liberty Latin America (LILA) 7 Nov 242024 Q3 Earnings call transcript