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Liberty Latin America Ltd. (LILA) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Liberty Latin America Ltd.

CIK: 1712184 Ticker: LILA
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Exhibit 99.1
Liberty Latin America Reports Q2 and H1 2020 Results
Performance impacted by COVID-19, improving from April low
RGU growth driven by 47,000 broadband adds; record RGU adds for Puerto Rico
Strong cash flows from operating activities and Adjusted FCF
Announced acquisition of Telefónica's fast-growing Costa Rica operation
Denver, Colorado - August 5, 2020: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q2”) and six months (“YTD” or “H1 2020”) ended June 30, 2020.
CEO Balan Nair commented, “As anticipated, following a strong start to the year, the second quarter brought with it a number of COVID-19 related challenges for many of our operations, resulting in declining year-over-year top-line performance. The good news is that we planned extensively and were able to offset some of the impacts through early cost management actions. As we look to the rest of the year, our mobile and B2B businesses are expected to see further challenges, however we believe we are past the low point. We continue to be focused on generating positive free cash flow in 2020, and took a step towards that with our strong Q2 performance.”
“In terms of our reporting segments, Puerto Rico led with another tremendous quarter, reporting record RGU additions and we are looking forward to adding AT&T's assets in Puerto Rico and the US Virgin Islands to further enhance our customer proposition and prospects. VTR and Cabletica also added subscribers in the period, albeit seeing more of an impact from lockdown restrictions in Chile. C&W experienced the greatest headwinds with declining RGUs driven by Panama where we experienced the most restrictive lockdowns across all of our markets. From a product perspective, consumers continue to demand high-speed connectivity and our fixed-line services have been particularly resilient.”
“Last week, we announced the exciting news that we agreed to acquire Telefónica's Costa Rica business. We have had great success in Costa Rica with our cable operation Cabletica and are increasing our investment in the country through a complementary, fast-growing, and postpaid-weighted mobile business. The two businesses combined would create a leading full-service communications player with approximately $400 million of revenue1. This transaction comes at an attractive valuation, consistent with our disciplined approach towards M&A.”
“As part of the financing for our acquisition of Telefónica Costa Rica as well as looking to other potential opportunities across our strong pipeline, we announced a $350 million rights offering today, with all the members of our Board and my leadership team having expressed their intention to subscribe. We feel this is an appropriate step to ensure we have flexibility to participate in accretive M&A opportunities, while maintaining a prudent capital structure.”
“Overall there continues to be uncertainty due to COVID-19, however our operating and financial performance has been improving since a trough in April, and we anticipate further progress over the remainder of 2020. Looking further ahead, cash generation remains our focus. This should be bolstered by organic performance, as we drive growth and efficiency in the business, benefiting from targeted network and product investments, in addition to disciplined acquisition activity.”
1

The following information was filed by Liberty Latin America Ltd. (LILA) on Wednesday, August 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited)
Condensed Consolidated Statements Of Equity (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Accounting Changes And Recent Accounting Pronouncements
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Schedules (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Commitments (Details)
Commitments And Contingencies - Narrative (Details)
Debt And Finance Lease Obligations
Debt And Finance Lease Obligations (Tables)
Debt And Finance Lease Obligations - Components Of Debt (Details)
Debt And Finance Lease Obligations - Components Of Debt Narrative (Details)
Debt And Finance Lease Obligations - Maturities Of Debt (Details)
Debt And Finance Lease Obligations - Narrative (Details)
Debt And Finance Lease Obligations - Revolving Credit Facilities (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Cross-Currency Derivative Contracts (Details)
Derivative Instruments - Fair Values Of Derivative Assets And Liabilities (Details)
Derivative Instruments - Interest Rate Derivative Contracts (Details)
Derivative Instruments - Narrative (Details)
Derivative Instruments - Net Cash Received (Paid) Related To Derivatives (Details)
Derivative Instruments - Realized And Unrealized Gains (Losses) On Derivatives (Details)
Equity
Equity (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Income Taxes
Income Taxes - Narrative (Details)
Insurance Recoveries
Insurance Recoveries (Details)
Leases
Leases (Tables)
Leases - Lease Expense And Cash Flows From Operating Lease (Details)
Leases - Lease Maturities Of Operating Lease Liabilities (Details)
Long-Lived Assets
Long-Lived Assets (Tables)
Long-Lived Assets - Goodwill (Details)
Long-Lived Assets - Intangible Assets Subject To Amortization, Net (Details)
Long-Lived Assets - Property And Equipment, Net (Details)
Loss Per Share
Loss Per Share (Details)
Loss Per Share (Tables)
Other Operating Costs And Expenses
Other Operating Costs And Expenses (Details)
Other Operating Costs And Expenses (Tables)
Restructuring Liabilities
Restructuring Liabilities (Details)
Restructuring Liabilities (Tables)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Geographic Segments (Details)
Segment Reporting - Narrative (Details)
Segment Reporting - Performance Measures (Details)
Segment Reporting - Property And Equipment Additions Of Our Reportable Segments (Details)
Segment Reporting - Reconciliation Of Operating Cash Flow To Earnings From Continuing Operations (Details)
Segment Reporting - Revenue By Major Category (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Rsus And Psus (Details)
Share-Based Compensation - Sars (Details)
Subsequent Events
Subsequent Events (Details)
Subsequent Events (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Changes In Allowance For Credit Loss (Details)
Unfulfilled Performance Obligations
Unfulfilled Performance Obligations (Details)
Ticker: LILA
CIK: 1712184
Form Type: 10-Q Quarterly Report
Accession Number: 0001712184-20-000202
Submitted to the SEC: Wed Aug 05 2020 4:32:21 PM EST
Accepted by the SEC: Wed Aug 05 2020
Period: Tuesday, June 30, 2020
Industry: Cable And Other Pay Television Services

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