Liberty Latin America Ltd. (NASDAQ:LILA) Q4 2024 Earnings Conference Call February 20, 2025 8:30 AM ET Company Participants Asad Nabi - Vice President, IT, Business Partner Balan Nair - President & Chief Executive Officer Chris Noyes - Senior Vice President & Chief Financial Officer Conference Call Participants Michael Rollins - Citigroup Vitor Tomita - Goldman Sachs Andres Coello - Scotiabank Matthew Harrigan - The Benchmark Company Mathieu Robilliard - Barclays Operator Good morning, ladies and gentlemen, ...

Part of Liberty Latin America LIBERTY LATIN AMERICA FY 2024 INVESTOR CALL February 20, 2025 "SAFE HARBOR" FORWARD-LOOKING STATEMENT | DEFINED TERMS FORWARD-LOOKING STATEMENTS & DISCLAIMER This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategies, priorities and objectives, financial and operational performance, growth expectations; our digital strategy, product innovation and commercial plan ...

Company Operations and Market Presence - The company operates in Puerto Rico, Panama, Costa Rica, and other parts of Latin America, providing video, broadband internet, telephony, and mobile services[34] - The total number of homes passed is 4,735,700, with 1,936,500 customer relationships and 8,054,300 total subscribers across all services[42] - The company is the largest fixed-line provider of high-speed broadband and video services in several markets, with a total of 2,354,700 RGUs[36] - In Jamaica, the company has 339,100 customer relationships, with 122,300 video RGUs and 327,200 internet RGUs[43] - The company’s B2B services represent a significant portion of revenue in many markets, indicating strong growth potential in this segment[77] Customer Base and Service Offerings - As of December 31, 2024, the total customer relationships across all segments reached 1,936,500, with 3,987,600 RGUs[42] - The total number of mobile subscribers is 8,054,300, which includes 5,593,100 prepaid and 2,461,200 postpaid subscribers[43] - The company aims to maintain or increase the number of subscriptions and average revenue per household and mobile subscriber[32] - The company offers a comprehensive set of converged mobile, broadband, video, and fixed-line telephony services across multiple countries in the Caribbean and Latin America[63] - The service offerings include mobile, broadband internet, video, and fixed-line telephony in various regions, enhancing customer choice and retention[64] Technology and Network Infrastructure - The company operates an extensive subsea and terrestrial fiber optic cable network connecting over 30 markets, enhancing connectivity solutions[35] - Liberty Networks operates approximately 50,000 kilometers of fiber optic cable with an activated capacity of over 30 Tbps, enabling large volumes of data traffic[82] - The maximum download speed offered for broadband internet services is 1,000 Mbps across various markets[61] - Over 95% of Liberty Networks' upgraded HFC network is capable of delivering speeds of 1 Gbps or above, following the upgrade to DOCSIS 3.1[87] - Liberty Networks has upgraded almost all of its HFC network to DOCSIS 3.1, enhancing its service offerings and customer experience[87] Regulatory and Compliance Challenges - The company faces risks related to economic conditions, competitive environment, and regulatory compliance that could impact future performance[31] - Regulatory conditions may limit growth and increase operating costs, with ongoing compliance required for existing licenses and concessions[98][99] - C&W Caribbean is facing regulatory challenges that may require third-party access to its network infrastructure, potentially impacting revenue and cash flows[105] - The Electronic Communications Bill adopted by ECTEL may adversely affect C&W Caribbean's operations, including provisions for net neutrality and network unbundling[107] Strategic Initiatives and Future Plans - The anticipated benefits of the Millicom transaction in Costa Rica are expected to enhance the company's market position[31] - The company aims to enhance customer retention and minimize churn by offering a comprehensive set of converged mobile, broadband, video, and fixed-line telephony services[63] - Future strategies include leveraging an extensive subsea and terrestrial fiber optic cable network connecting over 30 markets[35] - Liberty Puerto Rico is committed to completing network expansions and upgrades within six years as part of its funding agreements[135] Employee Engagement and Corporate Responsibility - The total employee attrition rate for 2024 was approximately 16.3%, with around 10,000 full-time employees across five reportable segments[181] - The company reported that women represented 41% of its global employees and 39% of its managerial positions as of December 31, 2024[181] - The company’s employee engagement score (eNPS) was measured at +24 in 2024, indicating a passionate and dedicated workforce[182] - The company contributed over 8,900 volunteer hours in 2024 through its Mission Week initiative, involving 850 employees across 22 countries[188] - The company operates with a commitment to high ethical standards and compliance, with a Code of Conduct guiding employee behavior and business practices[190]

Subscriber Growth - Liberty Latin America added approximately 100,000 organic fixed and mobile subscribers in 2024[1] - C&W Panama achieved over 100,000 mobile subscriber additions in 2024, with a double-digit Adjusted OIBDA growth of 18%[5] - Liberty Costa Rica saw over 110,000 postpaid additions in 2024, a 31% increase year-over-year, with double-digit revenue and Adjusted OIBDA growth[5] - Total mobile subscribers increased by 65,000, with net additions of 52,000 prepaid and 13,000 postpaid subscribers[22] - The total number of customer relationships across all services is 4,735,700, with 1,936,500 being video RGUs, 921,900 internet RGUs, and 1,828,200 telephony RGUs[1] Financial Performance - Revenue for Q4 2024 was $1,150 million, a decrease of 1% year-over-year, while FY 2024 revenue was $4,457 million, also down by 1%[4] - Adjusted OIBDA for Q4 2024 was $427 million, a decrease of 1% year-over-year, with FY 2024 Adjusted OIBDA at $1,594 million, down 6%[4] - Liberty Puerto Rico's revenue declined by 10% year-over-year in Q4 2024, primarily due to challenges in mobile operations[8] - Adjusted Free Cash Flow for the year ended December 31, 2024, was $1,145.4 million, reflecting a 5% increase from $1,086.3 million in 2023[33] - Net loss attributable to shareholders was $178 million for Q4 2024 and $657 million for the full year, compared to $103 million and $74 million for the same periods in 2023[14] Adjusted OIBDA and Margins - Adjusted OIBDA for C&W Caribbean increased by 5% and 6% on a reported and rebased basis, respectively, with an Adjusted OIBDA margin improvement of over 150 basis points year-over-year to 45% in Q4 2024[12] - C&W Panama's Adjusted OIBDA rose by 19% on both a reported and rebased basis, driven by product mix and synergies from the Claro Panama acquisition[14] - Liberty Puerto Rico's Adjusted OIBDA declined by 23% and 24% on a reported and rebased basis, primarily due to revenue decline, despite lower operating costs from the termination of the TSA with AT&T[14] - Total reported Adjusted OIBDA decreased by 1% and 6% for Q4 and the full year 2024, respectively, as organic reductions in Liberty Puerto Rico were partly offset by growth in C&W Panama, C&W Caribbean, and Liberty Costa Rica[13] - Adjusted OIBDA for Q4 2024 was $307.8 million, a 7% increase from $288.2 million in Q4 2023[33] Capital Expenditures and Debt - Capital expenditures for the year ended December 31, 2024, were $540.4 million, down from $585.0 million in 2023[16] - The total debt and finance lease obligations as of December 31, 2024, were $8,080.2 million, with a net debt of $7,476.1 million[84] - C&W's total third-party net debt was $4.4 billion, with a Fully-swapped Borrowing Cost of 5.7% and an average debt tenor of approximately 4.3 years[35] - C&W entered into a $1.5 billion term loan due January 31, 2032, and issued $755 million of senior notes due January 15, 2033, to refinance existing debt[35] - Unused borrowing capacity increased to $796.3 million as of December 31, 2024, compared to $710.1 million in the previous quarter[18] Operational Efficiency - The company successfully refinanced $3.3 billion of C&W credit silo debt, extending the weighted average maturity profile to 6.5 years[2] - By the end of 2024, 97% of fixed networks were capable of delivering speeds of at least 1Gbps, up from approximately 80% at the end of 2023[2] - The operating income margin improved to 11.1% in Q4 2024 from 9.7% in Q4 2023, indicating enhanced operational efficiency[66] - The company has made significant investments in new customer products and infrastructure to drive operational efficiency and support market expansion[4] - The company anticipates continued demand for connectivity in the region and plans to enhance its digital strategy and product innovation[28] Regional Performance - C&W Caribbean reported a 6% year-over-year growth in Adjusted OIBDA, with a margin increase of nearly 200 basis points to 43%[5] - Liberty Costa Rica reported Q4 2024 revenue of CRC 85.8 billion, an increase of 9% year-over-year, with Adjusted OIBDA rising 11% to CRC 34.2 billion[40] - Liberty Costa Rica's operating income for the year ended December 31, 2024, was $64.3 million, a 16% increase from the previous year[40] - Liberty Puerto Rico's operating income for the year ended December 31, 2024, was a loss of $522.8 million, compared to a profit of $175.2 million in 2023[37] - Liberty Puerto Rico's total third-party debt as of December 31, 2024, was $2.775 billion, with a Covenant Consolidated Net Leverage Ratio of 7.4x[39]

Group 1 - Liberty Latin America Ltd. is making significant investments to develop its 5G network and enhance network performance [1] - The company is expected to see further growth from recent transactions with Millicom and the acquisition of Dish Network [1] Group 2 - The analyst has a beneficial long position in the shares of Liberty Latin America Ltd. [2] - The article expresses the analyst's own opinions and is not receiving compensation for it [2]

Part of Liberty Latin America LIBERTY LATIN AMERICA Q3 2024 INVESTOR CALL November 7, 2024 IS I iberty LIBERTY "SAFE HARBOR" FORWARD-LOOKING STATEMENT | DEFINED TERMS FORWARD-LOOKING STATEMENTS & DISCLAIMER This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategies, priorities and objectives, performance, guidance and growth expectations; our digital strategy, product innovation and commercia ...

Financial Data and Key Metrics Changes - Reported revenue for Q3 2024 was $1.1 billion, a 3% sequential decline, while adjusted OIBDA grew by 4% to $403 million [37] - Year-over-year, revenue decreased by 4% on a rebased basis, and adjusted OIBDA declined by 6% [38] - Total debt at the end of Q3 was $8.2 billion, with gross leverage at 5.2 times and net leverage at 4.8 times, showing a modest improvement from Q2 [54] Business Line Data and Key Metrics Changes - C&W Caribbean reported $360 million in revenue, flat year-over-year on a rebased basis, with mobile revenue growing by 7% offset by declines in fixed and B2B [41] - C&W Panama generated $188 million in revenue, a 1% year-over-year decline, with mobile growth of 9% and fixed growth of 5% [43] - Liberty Puerto Rico's revenue was $308 million, reflecting a 13% rebased decline year-over-year, driven by lower mobile subscriber base and retention-related discounts [46] Market Data and Key Metrics Changes - The company added over 50,000 high-speed broadband and postpaid mobile subscribers year-to-date, with a robust 225,000 adds excluding Puerto Rico [6] - In Panama, the company became the first operator to launch 5G, highlighting its technology leadership in the market [13] - The Peruvian market presents significant growth potential with low Internet penetration at around 40% [35] Company Strategy and Development Direction - The company is focused on operational recovery in Puerto Rico through cost cuts and targeted commercial acquisitions, without expecting support from other segments [64] - In Peru, the company has invested approximately $100 million over three years, targeting areas outside Lima for broadband penetration [65] - The strategy includes leveraging converged product offerings across various markets to enhance customer value [70] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the slower-than-expected recovery in Puerto Rico but remains optimistic about future growth and operational improvements [58][99] - The company is focused on regaining commercial momentum and anticipates improved adjusted OIBDA performance in Q4 [58] - Management expressed confidence in the long-term plans and opportunities for growth in Puerto Rico and other markets [29][99] Other Important Information - The company successfully refinanced $1 billion of its Cable & Wireless credit silo senior notes, reflecting the strength of its financial position [7] - The new pan-regional subsea cable system will enhance the company's infrastructure and support growth in demand from hyperscalers [20] Q&A Session Summary Question: Capital allocation for Puerto Rico operations - Management intends to operate on cash flow without external support, focusing on cost cuts and revenue growth [64][65] Question: Strategy for the Peruvian business - The company has invested about $100 million in Peru, targeting low-competition areas outside Lima for broadband expansion [65] Question: Opportunities in converged bundles - The company is advancing converged offers in various markets, achieving a 25% penetration rate on average [73] Question: 5G upgrade progress - 5G has been launched in Puerto Rico, Costa Rica, Panama, and Cayman, with careful capital spending based on market readiness [72] Question: Currency exposure and implications - The company has a high percentage of revenue in U.S. dollars, with hedging strategies in place to manage currency risks [91][93]

Subscriber and Revenue Metrics - Total subscribers as of September 30, 2024: 7,989,300 mobile subscribers and 3,986,100 RGUs (1,824,500 broadband, 1,232,700 fixed-line telephony, 928,900 video)[178] - Revenue for Q3 2024 decreased by $36.6 million (3.3%) compared to Q3 2023, with organic revenue decline of $42.0 million[188] - Revenue for the nine months ended September 30, 2024, decreased by $40.9 million (1.2%) compared to the same period in 2023, with organic revenue decline of $70.0 million[191] - Total revenue for the three months ended September 2024 decreased by $36.6 million to $1,089.2 million, with organic revenue decline of $42.0 million[204] - C&W Caribbean's revenue for the nine months ended September 2024 increased by $21.4 million to $1,092.0 million, driven by organic growth of $25.9 million[205] - Liberty Puerto Rico's revenue for the three months ended September 2024 decreased by $43.0 million to $308.2 million, with organic decline of $45.9 million[204] - Liberty Costa Rica's revenue for the three months ended September 2024 increased by $10.9 million to $145.5 million, with organic growth of $6.3 million[204] - Residential mobile service revenue for C&W Caribbean increased by $17.6 million to $262.9 million for the nine months ended September 2024[208] - C&W Panama's total revenue for the three months ended September 2024 decreased by $2.4 million to $188.0 million, with B2B revenue declining by $10.7 million[214] - Residential revenue for C&W Panama increased by $8.3 million to $118.9 million for the three months ended September 2024, driven by mobile service revenue growth of $4.5 million[214] - Total residential fixed revenue for C&W Caribbean decreased by $3.7 million to $234.1 million for the three months ended September 2024, primarily due to lower video RGUs[206][209] - Residential mobile service revenue for C&W Caribbean increased by $8.0 million for the three months ended September 2024, driven by postpaid subscriber growth[209] - B2B revenue for C&W Caribbean increased by $5.0 million to $387.5 million for the nine months ended September 2024, mainly due to higher project-related revenue[208][212] - C&W Panama's residential fixed revenue increased by $1.4 million in the three-month comparison and $4 million in the nine-month comparison, driven by higher average broadband internet RGUs[217] - C&W Panama's residential mobile service revenue increased by $4.5 million in the three-month comparison and $3 million in the nine-month comparison, primarily due to higher ARPU from prepaid mobile services[219] - Liberty Networks' B2B revenue decreased by $2.6 million (2%) in the three-month comparison, with enterprise revenue increasing by $0.7 million (2%) and wholesale revenue decreasing by $3.3 million (4%)[222] - Liberty Networks' B2B revenue decreased by $2.3 million (1%) in the nine-month comparison, with enterprise revenue increasing by $10.4 million (12%) and wholesale revenue decreasing by $12.7 million (5%)[224] - Liberty Puerto Rico's total residential revenue decreased by $38.4 million (13%) in the three-month comparison, with residential fixed revenue decreasing by $5.3 million (4%) and residential mobile revenue decreasing by $33.1 million (21%)[227] - Liberty Puerto Rico's total residential revenue decreased by $104.4 million (12%) in the nine-month comparison, with residential fixed revenue decreasing by $3.9 million (1%) and residential mobile revenue decreasing by $100.5 million (21%)[229] - Liberty Puerto Rico's residential mobile service revenue decreased by $19.4 million in the three-month comparison and $50 million in the nine-month comparison, primarily due to declines in the average number of mobile subscribers[230] - Liberty Puerto Rico's residential mobile interconnect, inbound roaming, equipment sales, and other revenue decreased by $16.6 million in the three-month comparison and $53 million in the nine-month comparison, driven by lower equipment sales and inbound roaming revenue[232] - Liberty Puerto Rico's B2B revenue decreased by $2.7 million (5%) in the three-month comparison and $6 million (4%) in the nine-month comparison, primarily due to lower revenue from mobile services[230] - Liberty Puerto Rico's other revenue decreased by $1.9 million (23%) in the three-month comparison and $9.8 million (31%) in the nine-month comparison, driven by declines in the rate of funding from the FCC[235] - Residential fixed subscription revenue decreased by $2.0 million (6%) in Q3 2024 compared to Q3 2023, driven by lower ARPU across all fixed products, particularly video services[236][240] - Residential fixed non-subscription revenue increased by $3.6 million (90%) in Q3 2024, primarily due to higher volumes of CPE sales[236][240] - Residential mobile service revenue increased by $7.3 million (12%) in Q3 2024, driven by higher average postpaid mobile subscribers and lower prepaid mobile ARPU[236][241] - Total residential revenue increased by $9.4 million (8%) in Q3 2024, with mobile revenue contributing $7.8 million (10%) of the growth[236] - B2B revenue increased by $1.5 million (10%) in Q3 2024, reflecting growth in business services[236] - Total revenue increased by $10.9 million (8%) in Q3 2024, with organic growth contributing $6.3 million and FX impact adding $4.6 million[239] Hurricane Beryl Impact - Hurricane Beryl negatively impacted Q3 2024 revenue by $5 million and Adjusted OIBDA by $8 million, with an estimated loss of 33,000 RGUs (16,000 broadband, 15,000 fixed-line telephony, 2,000 video)[179] - Expected Q4 2024 impact from Hurricane Beryl: revenue and Adjusted OIBDA to decline by $5 million to $10 million, with additional property and equipment additions of $10 million to $15 million[180] - Net proceeds of $44 million from Weather Derivatives claim related to Hurricane Beryl in Q3 2024[181] Costa Rica Transaction - Costa Rica transaction with Millicom announced on August 1, 2024, with Liberty Latin America to hold ~86% interest and Millicom ~14% upon closing, expected in H2 2025[182] - Agreement to acquire 8.5% equity of Liberty Costa Rica for $82 million, with 62.5% due on January 30, 2026 and 37.5% on January 29, 2027[183] Operating Costs and Expenses - Q3 2024 operating costs and expenses increased by $505.7 million YoY, primarily due to organic growth of $501.1 million, with FX and acquisition impacts of $2.0 million and $2.6 million respectively[189] - Q3 2024 operating loss improved to $379.6 million from $542.3 million in Q3 2023, with organic improvement of $543.1 million, partially offset by FX and acquisition impacts of $0.5 million and $0.3 million respectively[189] - Operating loss for Q3 2024 was $379.6 million, compared to an operating income of $162.7 million in Q3 2023[193] - Operating loss for the nine months ended September 30, 2024, was $176.0 million, compared to an operating income of $404.7 million in the same period in 2023[191] - Programming and other direct costs decreased by $22.8 million (3.1%) for the nine months ended September 30, 2024, compared to the same period in 2023[191] - Other operating costs and expenses increased by $66.3 million (4.7%) for the nine months ended September 30, 2024, compared to the same period in 2023[191] - Depreciation and amortization increased by $24.3 million (3.4%) for the nine months ended September 30, 2024, compared to the same period in 2023[191] - Impairment, restructuring, and other operating items increased by $472.0 million for the nine months ended September 30, 2024, compared to the same period in 2023[191] - Integration costs of $17 million incurred in the Liberty Puerto Rico segment during the nine months ended September 30, 2024[198] - Organic revenue decline of $70.0 million for the nine months ended September 30, 2024, driven by a $123.1 million decrease in Liberty Networks[196] - Programming and other direct costs decreased by $22.8 million (3.1%) for the nine months ended September 30, 2024, with organic savings of $30.5 million[191] - Other operating costs increased by $66.3 million (4.7%) for the nine months ended September 30, 2024, with organic growth of $53.4 million[191] - Depreciation and amortization increased by $24.3 million (3.4%) for the nine months ended September 30, 2024, with organic growth of $20.6 million[191] - Impairment, restructuring and other operating items increased by $472.0 million for the nine months ended September 30, 2024, primarily due to non-recurring charges[191] - Programming and copyright costs decreased by $1.7 million in Q3 2024, primarily due to the renegotiation of certain content agreements[245][249] - Interconnect costs decreased by $8.5 million in Q3 2024, mainly due to lower rates from contract renegotiations[245][250] - Equipment costs decreased by $4.5 million in Q3 2024, driven by lower handset costs offsetting higher B2B project-related equipment costs[245][250] - Total programming and other direct costs of services decreased by $27.2 million in Q3 2024, with organic decreases contributing $29.8 million[245] - Programming and copyright revenue decreased by $0.4 million (6.9%) to $5.4 million in Q3 2024 compared to Q3 2023[252] - Interconnect revenue decreased by $2.1 million (11.3%) to $16.5 million in Q3 2024 due to lower traffic volumes[252][257] - Equipment revenue increased by $6.0 million (67.4%) to $14.9 million in Q3 2024 driven by higher handset sales to residential and B2B customers[252][254] - Project-related and other revenue decreased by $13.0 million (37.8%) to $21.4 million in Q3 2024 due to project phasing[252][255] - Total programming and other direct costs of services decreased by $9.5 million (14.0%) to $58.2 million in Q3 2024[252] - Liberty Puerto Rico's total programming and other direct costs decreased by $17.3 million (17.7%) to $80.3 million in Q3 2024, with organic decreases of $19.3 million[259] - Liberty Costa Rica's total programming and other direct costs increased by $3.6 million (12.7%) to $31.9 million in Q3 2024, with organic increases of $2.6 million[265] - Equipment costs in Liberty Costa Rica increased by $3.3 million (27.7%) to $15.2 million in Q3 2024 due to higher CPE and handset costs[265][268] - Interconnect costs in Liberty Costa Rica decreased by $1.5 million (18.5%) to $6.6 million in Q3 2024 due to lower rates and volumes[265][268] - Total programming and other direct costs for Liberty Networks decreased by $2.2 million (12.6%) to $15.2 million in Q3 2024[256] - Personnel and contract labor costs increased by $10.7 million organically in 2024 compared to 2023, primarily due to higher salaries, capitalized labor, and bonus-related expenses[270][274] - Network-related costs decreased by $6.1 million organically in 2024, driven by lower power costs and consumption[270][275] - Service-related costs increased by $10.4 million organically in 2024, mainly due to declines in professional services from renegotiated vendor contracts[270][277] - Total other operating costs and expenses increased by $5.9 million organically in 2024, reaching $470.1 million[270] - C&W Caribbean segment saw a $5.6 million organic decrease in total operating costs, primarily due to lower network and service-related expenses[273] - C&W Panama segment's total operating costs decreased by $12.8 million, with facility and provision costs dropping by $16.7 million due to lower facilities costs and bad debt expense[281][282] - Liberty Networks segment's total operating costs increased by $4.5 million organically, driven by higher facility and provision costs[285] - Facility, provision, franchise, and other costs increased by $6.2 million organically in C&W Caribbean over nine months, impacted by Hurricane Beryl-related restoration costs and higher franchise fees[274][278] - Commercial costs in C&W Panama increased by $2.8 million over nine months, driven by higher marketing and commissions expenses[281][282] - Share-based compensation and other employee incentive plan-related expenses decreased by $8.2 million organically in 2024, reflecting lower headcount and restructuring impacts[270][281] - Personnel and contract labor increased by $14.6 million (12.9%) organically for the nine months ended September 30, 2024, driven by higher salaries, severance-related expenses, and lower bonus-related expenses[291] - Network-related costs decreased by $5.6 million (14.8%) organically for the nine months ended September 30, 2024, primarily due to the termination of a transition service agreement[292] - Service-related costs increased by $42.3 million (77.6%) organically for the nine months ended September 30, 2024, driven by higher integration costs and IT service expenses[292] - Commercial costs increased by $5.4 million (15.0%) organically for the nine months ended September 30, 2024, primarily due to higher call center costs[293] - Facility, provision, franchise, and other costs increased by $12.2 million (8.0%) organically for the nine months ended September 30, 2024, mainly due to higher bad debt expense and collection costs[294] - Total other operating costs and expenses increased by $68.4 million (17.1%) for the nine months ended September 30, 2024, with $67.8 million (16.9%) being organic growth[291] - Personnel and contract labor increased by $6.0 million (84.5%) for the three months ended September 30, 2024, primarily due to higher bonus-related expenses and lower capitalized labor[304][305] - Share-based compensation and other employee incentive plan-related expenses decreased by $17.8 million (35.5%) for the nine months ended September 30, 2024[305] - Facility, provision, franchise, and other costs decreased by $5.1 million (19.5%) for the nine months ended September 30, 2024, primarily due to insurance costs recognized in 2023[307] - Total other operating costs and expenses decreased by $14.3 million (11.6%) for the nine months ended September 30, 2024[305] - Depreciation and amortization expense increased by $15 million (6%) for the three months and $24 million (3%) for the nine months ended September 30, 2024, compared to 2023, driven by property and equipment additions and network expansions[308] - Impairment charges for the three and nine months ended September 30, 2024, were $511.5 million and $520.0 million, respectively, primarily due to goodwill impairment at Liberty Puerto Rico[310] - Restructuring charges for the three and nine months ended September 30, 2024, were $12.2 million and $27.0 million, respectively, mainly due to employee severance costs in C&W Panama and Liberty Puerto Rico[311] - Interest expense increased by $7 million for the three months and $23 million for the nine months ended September 30, 2024, driven by higher average outstanding debt balances and interest rates[312] - Realized and unrealized losses on derivative instruments for the three months ended September 30, 2024, were $31.3 million, primarily due to changes in interest rates and FX rates[317] - Foreign currency transaction losses for the three months ended September 30, 2024, were $7.6 million, mainly due to remeasurement of CRC-denominated assets and liabilities[321] - Income tax benefit for the three and nine months ended September 30, 2024, was $146 million and $177 million, respectively, driven by international rate differences and valuation allowance decreases[326] - Net loss for the three and nine months ended September 30, 2024, was $429.1 million and $466.5 million, respectively, compared to net earnings of $47.9 million and a net loss of $4.1 million in 2023[330] Financial Position and Liquidity - Total cash and cash equivalents as of September 30, 2024, were $588.6 million, with $514.4 million held by borrowing groups, including C&W, Liberty Puerto Rico, and Liberty Costa Rica[334] - The aggregate value of share repurchases during the nine months ended September 30, 2024 was $83 million[339] - The outstanding principal amount of debt and finance lease obligations at September 30, 2024 was $8,212 million, with $550 million classified as current and $7,604 million due in 2027 or later[343] - The weighted average interest rate on all borrowings at September 30, 2024 was 7.2%, decreasing to 6.1% when including the effects of derivative instruments, original issue premiums or discounts, and commitment fees[345][346] - Net cash provided

1 Exhibit 99.1 Liberty Latin America Reports Q3 2024 Results Reported revenue of $1.1bn; sequential financial improvement Positioned to accelerate financial performance in Q4 Delivered successful $1bn debt refinancing in C&W credit silo Cultivated an FTTH Peruvian broadband investment with ~3m homes passed Completed acquisition of mobile spectrum and prepaid subscribers in PR & USVI Denver, Colorado - November 6, 2024: Liberty Latin America Ltd. ("Liberty Latin America" or "LLA") (NASDAQ: LILA and LILAK, OT ...

The last time I wrote about Liberty Latin America ( OTCPK:LILAB ) (NASDAQ: LILA ) (NASDAQ: LILAK ) was already over three years ago in August 2021. This was when Liberty TMT sector professional. Over 20 years of experience working in the sector in Europe and outside Europe. Decade of investing experience to keep in close touch with companies and themes that are relevant for my work.Companies where I worked are among others: KPN, Chellomedia, Liberty Global, UPC Cablecom Switzerland, Get Sweden, Ooredoo Midd ...