Convergencia Research, Consultoría especializada en Latinoamérica y Caribe
Friday, November 15, 2019

Liberty Latin America registered losses of US$ 70 million between July and September due to Hurricane Dorian

The report of results coincided with the announcement of the sale of the Cable & Wireless Seychelles operation, with which the operator becomes fully concentrated in Latin America. The operation amounted to US$ 104 million.

Operating profit fell 48.2% in the first nine months of the year, to US$ 187 million, after recording a US$ 70 million loss between July and September. The company attributed these results, in part, to the impact of Hurricane Dorian in the Bahamas during this last period.

Revenues grew 2% between January and September to US$ 2.892 billion, while for the third quarter they rose 0.6% year-on-year, to US$ 967 million.

Liberty's report of results coincided with the announcement of the detachment of the operation of Cable & Wireless Seychelles, with which the operator will concentrate entirely on Latin America. The operator sold the subsidiary of the islands to a consortium of local investors for US$ 104 million.

In the third quarter, Liberty showed strong access additions in all services. In the fixed segment, it added 26.000, driven by VTR Chile, with 15.000 of these new accesses. The UGIs totaled 67.000, 62% more than in the same period of 2018 thanks to the product upgrades program. At the mobile base there were 13.000 additions between July and September. C&W in particular showed 35.000 new fixed UGIs, the best quarterly performance since 2016.

The revenues of VTR and Cabletica (Chile and Costa Rica) rose 9.2% in the period, reaching US$ 268.4 million; those of Liberty Puerto Rico, 7.7% to US$ 104.3 million; and those of C&W, 2.5% to US$ 595.9 million.

Liberty closed September with 3.682,100 mobile users in Latin America, some 12,500 more than in June. Fixed telephone lines totaled 1.44 million (6.500 more), broadband accesses reached 2.57 million (41.600 more) and pay-TV accesses reached 1.97 million (19.200 more).

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