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Liberty Latin America Ltd. (LILA) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Liberty Latin America Ltd.

CIK: 1712184 Ticker: LILA
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Exhibit 99.1
Liberty Latin America Reports Q2 & H1 2021 Results
Operating momentum with ~190,000 fixed and mobile subscribers added in Q2
Strong growth across key financial metrics as markets recover from COVID-19
~360,000 homes passed / upgraded YTD, full-year target raised to over 700,000
Expect to close acquisition of Telefónica Costa Rica's operations by mid-August
Denver, Colorado - August 4, 2021: 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 2021”) ended June 30, 2021.
CEO Balan Nair commented, “Building on a strong start to the year, we continued to drive healthy subscriber additions in Q2 across both our fixed and mobile products. Fixed RGU additions of 73,000 in the quarter took our first half performance to 149,000, nearly twice the amount we added in H1 2020. In mobile, we reported a best ever quarter for the group with 118,000 subscriber additions, compared to losses in the prior year where we experienced the initial impacts of COVID-19. These results are particularly encouraging as our markets continue to be affected to varying degrees by the pandemic and are yet to fully recover.”
“There is a clear opportunity to increase penetration of fixed services across our markets, led by broadband, and during H1 we added or upgraded approximately 360,000 homes with fiber technologies, representing our highest ever six-month period of activity. I'm pleased to confirm our new target for the year of over 700,000 homes to be added or upgraded while maintaining our guidance for P&E additions as a percentage of revenue at approximately 18%. We remain committed to bringing high-speed connectivity to more customers in the region.”
“The group reported $1.2 billion in revenue, $160 million of operating income, and $464 million in Adjusted OIBDA in the second quarter. We delivered operating income growth of 178%, reported Adjusted OIBDA growth of 40%, and double-digit rebased Adjusted OIBDA growth of 10%, as our largest markets returned to pre-COVID levels, with the exception of VTR where we are stabilizing performance following a challenging period last year. In addition to a strong performance compared to the prior-year quarter, which was our weakest financially since the pandemic began, revenue and Adjusted OIBDA were also higher sequentially, evidencing continued progress.”
“Our first half cash flow from operations and Adjusted Free Cash Flow were $444 million and $93 million, respectively, representing solid growth over the prior-year period as we continue to focus on improving cash generation. During the quarter, we recommenced share repurchases under our previously announced program.”
“Our inorganic strategy is an important driver of stakeholder value and we are excited to have received the required authorizations to acquire Telefónica Costa Rica's operations, with closing to follow shortly. The transaction will create an innovative converged provider in the country. Combined with our fixed business, Cabletica, we plan to deliver added value to customers through expanded product offerings, state-of-the-art infrastructure, and outstanding customer service levels.”
“As we enter the second half of 2021, we are focused on maintaining our positive momentum through the delivery of compelling consumer propositions across our expanding fixed footprint. Our organic opportunity is bolstered by last year's acquisition of Liberty Mobile in Puerto Rico and the upcoming addition of Telefónica Costa Rica's operations, with the respective in-market combinations expected to generate significant synergies and improved full-service product suites.”
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The following information was filed by Liberty Latin America Ltd. (LILA) on Wednesday, August 4, 2021 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
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Earnings (Loss)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Operations
Accounting Changes And Recent Accounting Pronouncements
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Preliminary Opening Balance Sheet (Details)
Acquisitions - Pro Forma Information (Details)
Acquisitions - Reconciliation Of Purchase Price To Net Cash Paid (Details)
Assets Held For Sale
Assets Held For Sale (Tables)
Assets Held For Sale - Narrative (Details)
Assets Held For Sale - Schedule Of Assets And Liabilities (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Current Expected Credit Losses
Current Expected Credit Losses (Tables)
Current Expected Credit Losses - Changes In Allowance For Credit Loss (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 - Vtr Finance Senior Note (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)
Earnings Or Loss Per Share
Earnings Or Loss Per Share (Details)
Earnings Or Loss Per Share (Tables)
Equity
Equity - Contribution From Noncontrolling Interest Owners (Details)
Equity - Right Offering (Details)
Equity - Share Repurchase Program (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Income Taxes
Income Taxes - Narrative (Details)
Leases
Leases (Tables)
Leases - Lease Expense (Details)
Leases - Lease Maturities Of Operating Lease Liabilities (Details)
Leases - Operating Leases Assets And 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)
Other Operating Costs And Expenses
Other Operating Costs And Expenses (Details)
Other Operating Costs And Expenses (Tables)
Programming And Other Direct Costs Of Services
Programming And Other Direct Costs Of Services (Details)
Programming And Other Direct Costs Of Services (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 - 2021 Psars &Amp; 2020 Psus (Details)
Share-Based Compensation - Rsus And Psus (Details)
Share-Based Compensation - Sars (Details)
Unfulfilled Performance Obligations
Unfulfilled Performance Obligations (Details)

Material Contracts, Statements, Certifications & more

Liberty Latin America Ltd. provided additional information to their SEC Filing as exhibits

Ticker: LILA
CIK: 1712184
Form Type: 10-Q Quarterly Report
Accession Number: 0001712184-21-000239
Submitted to the SEC: Tue Nov 02 2021 4:42:08 PM EST
Accepted by the SEC: Tue Nov 02 2021
Period: Thursday, September 30, 2021
Industry: Cable And Other Pay Television Services

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