Liberty Latin America drops Capex despite adding customers in third quarter

Liberty Latin America has posted revenue of $967 million and operating loss of $70 million in the third quarter of 2019.
Liberty Latin America CEO Balan Nair“Specifically, our revenue and OCF growth rates were dampened by the impact of Hurricane Dorian in the Bahamas during Q3 2019 and FCC funding received in Q3 2018, representing a combined impact of $16 million in revenue and $19 million in OCF,” Liberty Latin America CEO Balan Nair said.

Liberty Latin America added 80,000 subscribers across fixed and mobile products, taking its year-to-date additions to over 270,000.

Liberty Latin America added 19,200 video customers, 41,600 data customers, 6,500 voice customers during the third quarter.

Liberty Latin America added or upgraded over 100,000 homes across footprint and invested in mobile network coverage and capacity.

Liberty Latin America revealed that its Capex during the third quarter touched $136.6 million vs $167.9 million.

Its spending was $72.7 million in Customer Premises Equipment, $30.2 million in New Build & Upgrade, $33.8 million in Capacity, $35.6 million in Baseline and $14.6 million in Product & Enablers.

Liberty Latin America will soon launch an innovative video platform in Puerto Rico. This new platform will function as a central video content aggregator, includes a sophisticated recommendation engine and seamless multi-screen capabilities and will provide access to applications, OTT content and IP video.

Liberty Latin America in early October announced the $1.95 billion acquisition of AT&T’s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands.

Liberty Latin America today announced it sold its subsidiary Cable & Wireless Seychelles, to a consortium of local investors. Cable & Wireless Seychelles is valued at an enterprise value of $104 million on a cash- and debt-free basis. Cable & Wireless Seychelles served 23,500 fixed subscribers and 76,000 mobile subscribers.

“We will be focusing entirely on the Caribbean and Latin America region,” Balan Nair said in a statement.