Liberty Latin America Ltd. · NASDAQ:LILA
Liberty Latin America — Q1 2023 Earnings Presentation
21 slides from Liberty Latin America's earnings presentation, May 9, 2023
Slide 1: Liberty Latin America Q1 2023 Investor Call
LIBERTY LATIN AMERICA Q1 2023 INVESTOR CALL May 9, 2023 Part of Liberty Latin America
Slide 2: Safe Harbor: Forward-Looking Statements and Defined Terms
“SAFE HARBOR” FORWARD-LOOKING STATEMENT | DEFINED TERMS FORWARD-LOOKING STATEMENTS & DISCLAIMER operating companies to access cash of their respective subsidiaries; the impact of our operating companies' future financial performance, or market conditions generally, on the availability, terms and dep
Slide 3: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX Part of Liberty Latin America
Slide 4: Liberty Latin America Key Messages
LIBERTY LATIN AMERICA | KEY MESSAGES(1) SOLID START TO THE YEAR; BUYBACK AUTHORIZATION INCREASED 1 2 3 4 65K $407M INTEGRATION $200M INTERNET ADJUSTED PROGRESS NEW BUYBACK & POSTPAID OIBDA AUTHORIZATION ADDS Puerto Rico prepaid mobile migration Growth across all +4% rebased underway $25m repurchased
Slide 5: C&W Caribbean: Strong Operational Start to the Year
C&W CARIBBEAN | STRONG OPERATIONAL START TO THE YEAR(1) SUBSCRIBER GROWTH DRIVEN BY FMC PROPOSITIONS INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS Q1 2023 FIXED MOBILE B2B YoY ADDs +28 • Economies recovering 36% • Subsc
Slide 6: C&W Panama: Operations & Integration Progressing
C&W PANAMA | OPERATIONS & INTEGRATION PROGRESSING(1) OPERATING MOMENTUM & ACQUISITION BENEFITS DRIVE GROWTH INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS Q1 2023 FIXED MOBILE B2B YoY ADDs +25 • Docsis 3.1 launched with
Slide 7: Liberty Puerto Rico: Sequential Improvement
LIBERTY PUERTO RICO | SEQUENTIAL IMPROVEMENT(1) CONTINUED FIXED SUBSCRIBER ADDITIONS; FOCUS ON INTEGRATION INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS Q1 2023 FIXED MOBILE B2B YoY ADDs +36 • Internet subscriber moment
Slide 8: Liberty Costa Rica: Operational & Financial Strength
LIBERTY COSTA RICA | OPERATIONAL & FINANCIAL STRENGTH(1) MOBILE SUBSCRIBER MOMENTUM; INTEGRATION PROGRESSING WELL INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS Q1 2023 FIXED MOBILE B2B YoY ADDs +19 • Launched FMC bundle
Slide 9: C&W Networks & LATAM: Growth Across Products
C&W NETWORKS & LATAM | GROWTH ACROSS PRODUCTS(1) INCREASING CAPACITY DEMAND & ENTERPRISE ATTACKER STRATEGY DELIVERING GROWTH SUBSEA & TERRESTRIAL REVENUE(2) REVENUE BY PRODUCT LATAM ENTERPRISE REVENUE(3) IN USD MILLIONS YoY REBASED GROWTH Q1 2023 YoY REBASED GROWTH IN USD MILLIONS YoY REBASED GROWTH
Slide 10: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX Part of Liberty Latin America
Slide 11: Group Revenue & Adjusted OIBDA
GROUP REVENUE & ADJUSTED OIBDA(1) POSITIVE FIRST QUARTER PERFORMANCE REVENUE ADJUSTED OIBDA IN USD MILLIONS VTR IN USD MILLIONS VTR • C&W Networks & • YoY rebased growth 1% LatAm, C&W Panama 4% driven largely by LCR, and LCR strongest C&W Panama and REBASED REBASED performers in the C&W Caribbean 1,
Slide 12: Segment Financial Results
SEGMENT FINANCIAL RESULTS(1) STRONG ADJUSTED OIBDA GROWTH IN LCR, C&W PANAMA & C&W CARIBBEAN PUERTO RICO COSTA RICA Q1 2023 IN USD MILLIONS 13% 12% 10% 13% 10% AS % OF AS % OF AS % OF AS % OF AS % OF REVENUE REVENUE REVENUE REVENUE REVENUE 354 366 140 165 134 109 129 46 44 64 48 45 20 11 13 REVENUE
Slide 13: Group P&E Additions & Adjusted FCF
GROUP P&E ADDITIONS & ADJUSTED FCF(1) INVESTING IN NETWORKS & PRODUCTS; ADJUSTED FCF ON-TRACK P&E ADDITIONS ADJUSTED FCF IN USD MILLIONS; AS PERCENTAGE OF REVENUE IN USD MILLIONS • 90k homes built or • Negative TWC in Q1 14% 13% upgraded in Q1, led by +6 • Adjusted FCF activity in the Caribbean weig
Slide 14: Balance Sheet & Liquidity Position
BALANCE SHEET & LIQUIDITY POSITION(1) 95% OF DEBT DUE IN 2027 OR BEYOND; $50M OF STOCK & CONVERT BUYBACK IN Q1 KEY METRICS MATURITY SCHEDULE(5) IN USD BILLIONS LLA CORP C&W LPR LCR $8.0 5.9 DUE IN 2027 BILLION PERCENT 95% & BEYOND TOTAL 2.9 TOTAL DEBT DEBT CASH(3) WACD 2.6 4.9X 4.5X 5.0 1.4 GROSS NE
Slide 15: Conclusions
CONCLUSIONS(1) ON-TRACK TO ACHIEVE FINANCIAL GUIDANCE TARGETS 1 2 3 4 2023 OPERATIONAL INTEGRATION CAPITAL TARGETS MOMENTUM FOCUS ALLOCATION RECONFIRMED Mid-to-high single-digit Volume growth driving rebased Adjusted $50m into stock and OIBDA growth top-line performance Deliver value capture convert
Slide 16: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX Part of Liberty Latin America
Slide 17: Definitions & Additional Information
DEFINITIONS & ADDITIONAL INFORMATION ADJUSTED OIBDA MARGIN REVENUE GENERATING UNIT (“RGU”) Calculated by dividing Adjusted OIBDA by total revenue for the applicable period. RGU is separately a video RGU, internet RGU or telephony RGU. A home, residential multiple dwelling unit, or commercial unit ma
Slide 18: Information on Rebased Growth
INFORMATION ON REBASED GROWTH Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a acquisition periods to eliminate nonrecurring items or to give retroactive effect to any changes in estimates that comparable basis for all businesses that we owned during
Slide 19: Adjusted Free Cash Flow Definition & Reconciliation
ADJUSTED FREE CASH FLOW DEFINITION & RECONCILIATION We define Adjusted Free Cash Flow (Adjusted FCF), a non-GAAP measure, as net cash provided by our interest owners. We believe that our presentation of Adjusted FCF provides useful information to our investors operating activities, plus (i) cash pay
Slide 20: Adjusted OIBDA & Adjusted OIBDA less P&E Additions Reconciliation
ADJUSTED OIBDA & ADJUSTED OIBDA LESS P&E ADDITIONS DEFINITION & RECONCILIATION Adjusted OIBDA and Adjusted OIBDA less P&E Additions, each a non-GAAP measure, are the primary recurring operating performance that is unaffected by our capital structure and allows management to (i) readily measures used
Slide 21: Consolidated Leverage Ratio Definition & Reconciliation
CONSOLIDATED LEVERAGE RATIO DEFINITION & RECONCILIATION We have set forth below our consolidated leverage and net leverage ratios. Our consolidated leverage and net leverage ratios, each a non-GAAP measure, are defined as (i) adjusted total debt and finance lease obligations (total carrying value of
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