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 in Q4 2024, with net additions of 52,000 prepaid and 13,000 postpaid subscribers[22] - Total C&W Caribbean subscribers reached 1,695,100, with a total of 3,987,600 subscribers across all segments[43] - Liberty Puerto Rico segment reported 1,061,600 customer relationships, contributing to a total of 8,054,300 subscribers[43] Revenue 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 1%[4] - Liberty Puerto Rico's revenue for Q4 2024 was $316.5 million, a decrease of 10% compared to Q4 2023, with Adjusted OIBDA of $79.9 million, down 23%[37] - Liberty Costa Rica's revenue for Q4 2024 was CRC 85.8 billion, an increase of 9% year-over-year, with Adjusted OIBDA of CRC 34.2 billion, up 11%[40] - Total revenue for the year ended December 31, 2023, was reported at $4,511.1 million, with a reported percentage change of 2% compared to the previous year[77] Adjusted OIBDA - Adjusted OIBDA for Q4 2024 was $427 million, a decrease of 1% year-over-year, and FY 2024 Adjusted OIBDA was $1,594 million, down 6%[4] - 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] - 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, up 7% from $288.2 million in Q4 2023[33] - Adjusted OIBDA for Liberty Costa Rica in Q4 2024 was 34.2 billion CRC, up from 30.8 billion CRC in Q4 2023, indicating an increase of 10.4%[89] Operating Income and Loss - The company reported an operating income of $128 million for Q4 2024, an increase from $113 million in Q4 2023[12] - Operating income for Q4 2024 reached $112.6 million, representing a 74% increase compared to $64.7 million in Q4 2023[33] - Liberty Puerto Rico reported an operating loss of $7.7 million in Q4 2024, compared to an operating income of $9.7 million in Q4 2023[89] Debt and Financial Obligations - The total debt and finance lease obligations amounted to $8,138.8 million as of December 31, 2024, with cash and cash equivalents of $667.3 million[18] - As of December 31, 2024, 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] - Liberty Puerto Rico's total debt and finance lease obligations amounted to $2.775 billion as of December 31, 2024, with a net carrying amount of $2.722 billion[38] - The total debt and finance lease obligations as of December 31, 2024, amounted to $8,080.2 million[84] Capital Expenditures - Capital expenditures for the year ended December 31, 2024, totaled $540.4 million, slightly down from $585.0 million in 2023[16] - Property and equipment additions for the year ended December 31, 2024, totaled $381.0 million, a 5% decrease from $399.7 million in 2023[33] - Property and equipment additions as a percentage of revenue were 20.9% for Q4 2024, up from 17.8% in Q4 2023[16] Strategic Initiatives - The company anticipates continued demand for connectivity in the region and plans to focus on digital strategy and product innovation[28] - The company is undergoing adjustments related to the migration to a new prepaid billing system, impacting customer relationships and video subscribers[23] - The company is focused on expanding its network capacity to support growth and service expansions, which includes significant capital investments[59] - The company’s strategy includes exploring new product offerings and market expansions to enhance customer relationships and revenue streams[62] Cash Flow - Adjusted free cash flow (FCF) before distributions to noncontrolling interest owners was $196 million in Q4 2024, down from $218 million in Q4 2023[4] - Adjusted Free Cash Flow (FCF) for Q4 2024 was $163.2 million, down from $183.7 million in Q4 2023, indicating a decrease of 11.5%[69] - Net cash provided by operating activities increased to $398.6 million in Q4 2024 from $390.5 million in Q4 2023, showing a growth of 2.8%[69] Acquisition and Adjustments - The company completed the LPR Acquisition on September 3, 2024, which is expected to impact future revenue and Adjusted OIBDA growth rates[70] - Cash payments for direct acquisition and disposition costs were $2.9 million in Q4 2024, compared to $0.9 million in Q4 2023, indicating an increase of 222.2%[69] - Liberty's acquisition adjustments for the year included $1.4 million related to revenue[79]
Liberty Latin America(LILAK) - 2024 Q4 - Annual Results