Liberty Latin America Ltd. · NASDAQ:LILA
Liberty Latin America — FY2024 Earnings Presentation
27 slides from Liberty Latin America's earnings presentation, Feb 20, 2025
Slide 1: Liberty Latin America FY 2024 Investor Call
LIBERTY LATIN AMERICA FY 2024 INVESTOR CALL February 20, 2025 Part of Liberty Latin America
Slide 2: Safe Harbor: Forward-Looking Statement | Defined Terms
“SAFE HARBOR” FORWARD-LOOKING STATEMENT | DEFINED TERMS FORWARD-LOOKING STATEMENTS & DISCLAIMER availability, terms and deployment of capital; fluctuations in currency exchange and interest rates; the ability of suppliers and vendors to timely deliver quality products, equipment, software, services
Slide 3: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 4: Liberty Latin America | Key Messages
LIBERTY LATIN AMERICA | KEY MESSAGES(1) STRONG PROGRESS IN C&W CARIBBEAN, C&W PANAMA & LCR; C&W CREDIT SILO MATURITIES EXTENDED 1 2 3 4 ~100K $1.6BN ~400K $3.3BN FIXED & FY 2024 HOMES PASSED OR C&W MOBILE ADJUSTED UPGRADED TO REFINANCING NET ADDS OIBDA FTTH COMPLETED YoY rebased growth in C&W Caribb
Slide 5: C&W Caribbean | Operating & Financial Execution
C&W CARIBBEAN | OPERATING & FINANCIAL EXECUTION(1) WELL POSITIONED FOR FURTHER GROWTH INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2024 FIXED MOBILE B2B YoY ADDs (9) O/W (27)K BERYL-RELATED • Postpaid subscriber growth driven by
Slide 6: C&W Panama | Exceptional Year in Mobile
C&W PANAMA | EXCEPTIONAL YEAR IN MOBILE(1) STRONG OPERATING PERFORMANCE & DOUBLE-DIGIT ADJUSTED OIBDA GROWTH INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2024 FIXED MOBILE B2B YoY ADDs +23 • Internet & postpaid adds momentum; >1
Slide 7: Liberty Costa Rica | Robust Mobile Performance
LIBERTY COSTA RICA | ROBUST MOBILE PERFORMANCE(1) TOP-LINE & ADJUSTED OIBDA EXPANSION INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2024 FIXED MOBILE B2B YoY ADDs +15 • Delivering steady subscriber growth in competitive fixed mar
Slide 8: Liberty Networks | Enterprise Momentum
LIBERTY NETWORKS | ENTERPRISE MOMENTUM(1) STRONG ENTERPRISE REVENUE GROWTH & CASH CONVERSION YoY REVENUE EVOLUTION REVENUE BY PRODUCT KEY MESSAGES IN USD MILLIONS ENTERPRISE WHOLESALE (EXCL. IRUs) IRUs FY 2024 ENTERPRISE 453 447 • Significant growth opportunity as 58 40 attacker WHOLESALE (1)% $448
Slide 9: Liberty Puerto Rico | Migration Challenges Reducing
LIBERTY PUERTO RICO | MIGRATION CHALLENGES REDUCING(1) STABLE FIXED PERFORMANCE; MOBILE NET ADDS MOVING IN THE RIGHT DIRECTION INTERNET RGU EVOLUTION REVENUE BY PRODUCT KEY MESSAGES INTERNET NET RGU ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS FY 2024 FIXED MOBILE B2B OTHER YoY ADDs (3) O/W (10)K ACP •
Slide 10: Liberty Puerto Rico | Operational Metrics Improving
LIBERTY PUERTO RICO | OPERATIONAL METRICS IMPROVING(1) MIGRATION IMPACTED DISCONNECTS & NPS; TARGETING RETURN TO NET ADDS MOBILE POSTPAID SUBSCRIBER EVOLUTION MOBILE NPS EVOLUTION MOBILE NET POSTPAID ORGANIC ADDITIONS (LOSSES) | IN THOUSANDS HURRICANE FIONA MIGRATION NET ADDS GROSS ADDS DISCONNECTS
Slide 11: Infrastructure | Leading Fixed & Mobile Capabilities
INFRASTRUCTURE | LEADING FIXED & MOBILE CAPABILITIES(1) FIXED NETWORKS CLOSE TO 100% GIGABIT-READY, 5G & COVERAGE EXPANSION FOR MOBILE FIXED NETWORK TECHNOLOGY FIXED FOOTPRINT & MOBILE TECHNOLOGY BY MARKET % OF TOTAL HOMES PASSED HOMES PASSED | THOUSANDS FTTH HFC OTHER GIGABIT-READY PUERTO RICO 1,19
Slide 12: Strategic Vision | Priorities to Drive Growth
STRATEGIC VISION | PRIORITIES TO DRIVE GROWTH(1) PROGRESSING ACROSS THREE KEY PILLARS 2024 2025 • ~400k homes upgraded or passed NETWORKS & ~100% ~100% • 97% gigabit-ready network INCREASE IT COPPER GIGABIT-READY 5G ADOPTION DECOMMISSION NETWORK • 5G launched in 3 new markets • >30% FMC penetration
Slide 13: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 14: Revenue & Adjusted OIBDA
REVENUE & ADJUSTED OIBDA(1) SEQUENTIAL PROGRESS; FY 2024 PERFORMANCE IMPACTED BY LPR CHALLENGES REVENUE IN USD MILLIONS SEQUENTIAL Q4 YoY FY YoY +6% (2)% (2)% REPORTED REBASED 4,511 REBASED 1,150 1,164 1,150 4,457 1,089 Q3 24 Q4 24 Q4 23 Q4 24 FY 23 FY 24 ADJUSTED OIBDA IN USD MILLIONS SEQUENTIAL Q4
Slide 15: Segment Financial Results
SEGMENT FINANCIAL RESULTS(1) REVENUE & ADJUSTED OIBDA GROWTH IN C&W CARIBBEAN, C&W PANAMA & LCR PUERTO RICO COSTA RICA Q4 2024 IN USD MILLIONS 21% 14% 12% 27% 16% AS % OF AS % OF AS % OF AS % OF AS % OF REVENUE REVENUE REVENUE REVENUE REVENUE 371 317 168 209 168 76 79 110 80 85 67 30 61 26 13 REVENU
Slide 16: P&E Additions & Adjusted FCF
P&E ADDITIONS & ADJUSTED FCF(1) FY 2024 P&E ADDITIONS AT 16% OF REVENUE; STRONG Q4 DRIVES FY 2024 ADJUSTED FCF FY 2024 P&E ADDITIONS FY 2024 ADJUSTED FCF PERCENTAGE OF TOTAL C&W CARIBBEAN C&W PANAMA LIBERTY NETWORKS LPR LCR LLA CORP IN USD MILLIONS 31% 116 55 $725 14% 61 30% MILLION 7% 6% 11% ADJUST
Slide 17: Efficiency Gains | C&W Caribbean & C&W Panama
EFFICIENCY GAINS | C&W CARIBBEAN & C&W PANAMA(1) SIGNIFICANT IMPROVEMENTS CREATING FLYWHEEL INTO 2025; FURTHER OPPORTUNITIES IDENTIFIED ADJUSTED OIBDA MARGIN ADJUSTED OIBDA LESS P&E ADDS MARGIN 2025 COST INITIATIVES AS % OF REVENUE AS % OF REVENUE • Vendor, energy & labor optimization +180 • Distrib
Slide 18: Balance Sheet & Liquidity Position
BALANCE SHEET & LIQUIDITY POSITION(1) $3.3BN C&W REFINANCING EXTENDING SILO WEIGHTED AVERAGE LIFE OF DEBT TO 6.5 YEARS GROUP KEY METRICS C&W CREDIT SILO(4) IN USD BILLIONS $8.2 6.5 SEPTEMBER 2024 FEBRUARY 2025 BILLION PERCENT AS ADJUSTED TOTAL TOTAL DEBT DEBT CASH WACD 2.0 WAL(3) 2.5 1.7 3.3 6.5 4.9
Slide 19: Conclusions
CONCLUSIONS(1) OPERATING & CAPITAL ALLOCATION PROGRESS IN 2024; FOCUS ON LPR RECOVERY 1 2 3 LPR OPERATIONAL 2025 REBUILD PROGRESS FOCUS Improving subscriber & churn Adjusted FCF expansion through trends operational & capex optimization Subscriber momentum Strengthen CVPs portfolio Further improvemen
Slide 20: Agenda
AGENDA 01 | EXECUTIVE SUMMARY 02 | FINANCIAL RESULTS 03 | APPENDIX
Slide 21: Definitions & Additional Information
DEFINITIONS & ADDITIONAL INFORMATION ACP subscribers. Customers who do not pay a recurring monthly fee are excluded from our mobile telephony Affordable Connectivity Program. subscriber counts after periods of inactivity ranging from 30 to 90 days, based on industry standards within the respective c
Slide 22: 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 the acquired entities during the pre-acquisition periods, no assurance can be given that we have identified all comparable basis for all businesses that we owned during the
Slide 23: Information on Rebased Growth (cont.)
INFORMATION ON REBASED GROWTH (CONT.) Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a the acquired entities during the pre-acquisition periods, no assurance can be given that we have identified all comparable basis for all businesses that we owned du
Slide 24: Information on Rebased Growth (cont.)
INFORMATION ON REBASED GROWTH (CONT.) Rebase growth rates are a non-GAAP measure. For purposes of calculating rebased growth rates on a the acquired entities during the pre-acquisition periods, no assurance can be given that we have identified all comparable basis for all businesses that we owned du
Slide 25: 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 distributions to noncontrolling interest owners. We believe that our presentation of Adjusted FCF provides operating activities, plus (i) cash payment
Slide 26: 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 measure because it represents a transparent view of our recurring operating performance that is unaffected by operating decision maker, or Chief Executive
Slide 27: 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 measured using swapped foreign currency rates. We believe our consolidated leverage and net leverage ratios leverage ratios (Consolidat