Liberty Latin America Ltd. · NASDAQ:LILA
Liberty Latin America — Q2 2023 Earnings Presentation
22 slides from Liberty Latin America's earnings presentation, Aug 9, 2023
Slide 1: Q2 & H1 2023 Investor Call
LIBERTY LATIN AMERICA Q2 & H1 2023 INVESTOR CALL August 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) FINANCIAL & OPERATIONAL GROWTH; ACCELERATED BUYBACK ACTIVITY 1 2 3 4 +52K $445M $132M INTEGRATIONS Q2 INTERNET Q2 EQUITY & Q2 ADJUSTED ON-TRACK & POSTPAID CONVERTIBLE OIBDA ADDS BUYBACK Driven by Costa +4% rebased CR close to Rica, Jamaica & growth YoY $181m r
Slide 5: C&W Caribbean: Continued Sequential Growth
C&W CARIBBEAN | CONTINUED SEQUENTIAL GROWTH(1) STRATEGIC PRICE INCREASES; STRONG MOMENTUM INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS H1 2023 FIXED MOBILE B2B YoY ADDs +31 • Tourism continuing rebound from lows 36% •
Slide 6: C&W Panama: Network Upgrade & Integration Progress
C&W PANAMA | NETWORK UPGRADE & INTEGRATION PROGRESS(1) SOLID FIXED GROWTH & FOCUS ON HIGHER VALUE MOBILE SUBSCRIBERS INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS H1 2023 FIXED MOBILE B2B YoY ADDs +29 • Internet RGU add
Slide 7: Liberty Puerto Rico: Subscription Revenue Growth
LIBERTY PUERTO RICO | SUBSCRIPTION REVENUE GROWTH(1) FOCUS ON INTEGRATION & CUSTOMER MIGRATION INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS H1 2023 FIXED MOBILE B2B YoY ADDs +34 • Internet RGU additions driving YoY fix
Slide 8: Liberty Costa Rica: Solid Postpaid Performance
LIBERTY COSTA RICA | SOLID POSTPAID PERFORMANCE(1) CONFIRMED AS LARGEST MOBILE OPERATOR IN CR; +5PP POSTPAID MARKET SHARE INCREASE IN 2022(2) INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES & HIGHLIGHTS INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS H1 2023 FIXED MOBILE B2B YoY AD
Slide 9: Liberty Networks: Rebranding Successfully Completed
LIBERTY NETWORKS | REBRANDING SUCCESSFULLY COMPLETED(1) GROWTH SUPPORTED BY UNIQUE NETWORK INFRASTRUCTURE OUR NEW BRAND REVENUE BY PRODUCT WHOLESALE KEY MESSAGES & HIGHLIGHTS H1 2023 H1 REBASED REVENUE GROWTH • Officially launched at the Global • Growth driven by capacity increases International Tel
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) REVENUE & ADJUSTED OIBDA SEQUENTIAL GROWTH SEQUENTIAL YEAR-OVER-YEAR IN USD MILLIONS IN USD MILLIONS VTR REVENUE ADJUSTED OIBDA REVENUE ADJUSTED OIBDA +2% +10% —% EXCL. VTR +4% EXCL. VTR REPORTED REPORTED REBASED REBASED 1,104 1,123 1,216 1,123 445 407 461 445 1,066
Slide 12: Segment Financial Results
SEGMENT FINANCIAL RESULTS(1) SEQUENTIAL ADJUSTED OIBDA GROWTH ACROSS ALL SEGMENTS PUERTO RICO COSTA RICA Q2 2023 IN USD MILLIONS 20% 14% 11% 15% 13% AS % OF AS % OF AS % OF AS % OF AS % OF REVENUE REVENUE REVENUE REVENUE REVENUE 356 352 181 146 119 141 135 72 59 72 54 50 26 13 18 REVENUE ADJ. P&E RE
Slide 13: Group P&E Additions & Adjusted FCF
GROUP P&E ADDITIONS & ADJUSTED FCF(1) CONTINUING FIBER DEPLOYMENT; ADJUSTED FCF Q4-WEIGHTED Q2 2023 P&E ADDITIONS Q2 2023 ADJUSTED FCF IN USD MILLIONS C&W CARIBBEAN C&W PANAMA LIBERTY NETWORKS LPR LCR LLA CORP IN USD MILLIONS 72 28% 38% 41 $192 17% OF REVENUE 31 MILLION 9% 5% 7% 13% ADJUSTED FCF DIS
Slide 14: Balance Sheet & Liquidity Position
BALANCE SHEET & LIQUIDITY POSITION(1) HEALTHY DEBT METRICS & BUYBACK ACCELERATION KEY METRICS MATURITY SCHEDULE(5) IN USD BILLIONS LLA CORP C&W LPR LCR 5.9 96 PERCENT PERCENT TOTAL DEBT (2) CASH 2.9 WACD FIXED DEBT 2.6 DUE IN 2027 & BEYOND 95% 1.4 4.8 $0.6BN $1.0BN YEARS CASH RCF AVAILABLE 0.3 0.5 R
Slide 15: Conclusions
CONCLUSIONS(1) WELL-POSITIONED TO ACHIEVE GUIDANCE; CREATING PLATFORM FOR FUTURE GROWTH 1 2 3 4 ON-TRACK TO OPERATIONAL CAPITAL INTEGRATIONS ACHIEVE 2023 MOMENTUM ALLOCATION TARGETS Underpinning future 2024 financial growth Significant buyback Confident of achieving growth drivers activity in H1 gui
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: 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 20: 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 21: Adjusted OIBDA Definition & Reconciliation
ADJUSTED OIBDA DEFINITION & RECONCILIATION On a consolidated basis, Adjusted OIBDA, a non-GAAP measure, is the primary measure used by our chief trends, (ii) perform analytical comparisons and benchmarking between segments and (iii) identify strategies to operating decision maker to evaluate segment
Slide 22: 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 (Consolidated Leverage Ratios), each a non-GAAP measure, are defined as (i) the principal amount of debt and finance le
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