Revenue Performance - Liberty Latin America reported Q4 2025 revenue of $1,160 million, a 1% increase year-over-year, and FY 2025 revenue of $4,442 million, a slight decline of 1% compared to FY 2024[5]. - C&W Panama achieved a revenue growth of 10% year-over-year in Q4 2025, driven by a 24% increase in B2B revenue[4][10]. - Liberty Networks reported an 18% revenue increase in Q4 2025, supported by a significant contract win and ongoing subsea capacity momentum[12]. - Liberty Puerto Rico experienced a 4% decline in revenue year-over-year in Q4 2025, attributed to challenges in mobile network migration[12]. - Total revenue for the Cable & Wireless Borrowing Group was $692.8 million in Q4 2025, representing a 4% increase from $667.3 million in Q4 2024[34]. - Liberty Puerto Rico's revenue decreased by 4% to $301.3 million in Q4 2025 from $314.1 million in Q4 2024[36]. - Liberty Costa Rica reported a revenue of CRC 83.9 billion for Q4 2025, a decrease of 2% compared to CRC 85.8 billion in Q4 2024[39]. Adjusted OIBDA - Adjusted OIBDA for Q4 2025 was $451 million, reflecting an 8% increase year-over-year, while FY 2025 Adjusted OIBDA reached $1,706 million, a 9% increase from FY 2024[5]. - Adjusted OIBDA for the year ended December 31, 2025, increased by 9% on both a reported and rebased basis compared to the prior year, with Q4 growth at 8%[14]. - C&W Panama's Adjusted OIBDA rose by 18% on both a reported and rebased basis, driven by strong B2B project revenue[14]. - Liberty Puerto Rico's Adjusted OIBDA increased by 26% on both a reported and rebased basis, despite a revenue decline[14]. - Total Adjusted OIBDA for Q4 2025 was $451.3 million, up from $418.2 million in Q4 2024, reflecting an 8% increase[14]. - Adjusted OIBDA for the Cable & Wireless Borrowing Group increased by 4% to $321.6 million in Q4 2025 compared to $307.8 million in Q4 2024[34]. - Adjusted OIBDA for Liberty Puerto Rico for the three months ended December 31, 2025, was $89.4 million, up from $70.8 million for the same period in 2024[95]. Capital Expenditures - Capital expenditures for Q4 2025 were $220 million, representing an 8% decrease from $240 million in Q4 2024, with a capital intensity of 19% of revenue[5]. - Capital expenditures for the year ended December 31, 2025, totaled $500.0 million, down from $540.4 million in 2024[17]. - The company added 220.3 million in property and equipment during Q4 2025, compared to 240.1 million in Q4 2024[67]. - Property and equipment additions as a percentage of revenue were 14.4% for the year ended December 31, 2025, compared to 16.3% in 2024[17]. Debt and Leverage - Consolidated debt and finance lease obligations amounted to $8,349.8 million as of December 31, 2025[23]. - The consolidated leverage ratio was 4.7x, with a net leverage ratio of 4.3x as of December 31, 2025[23]. - The total carrying amount of debt for Cable & Wireless was $4.8625 billion as of December 31, 2025[35]. - The net carrying amount of debt for Cable & Wireless was $4.355 billion as of December 31, 2025[35]. - Liberty Puerto Rico's total debt and finance lease obligations amounted to $2,935.8 million, with a net carrying amount of $2,813.5 million after accounting for cash and cash equivalents[37]. - The company reported a Covenant Proportionate Net Leverage Ratio of 3.5x as of December 31, 2025[35]. - The Covenant Consolidated Net Leverage Ratio for Liberty Puerto Rico was 14.0x as of December 31, 2025, indicating a significant leverage position[38]. Customer Metrics - The total customer base decreased to 1,834,900 in Q4 2025, with organic customer losses of 66,600[7]. - Liberty Caribbean's total subscriber count reached 6,794,000 as of December 31, 2025, with a total of 4,692,600 fixed-line and mobile subscribers[41]. - Liberty Puerto Rico experienced a decline of 7,300 RGUs in Q4 2025 compared to Q3 2025, attributed to the impact of Hurricane Melissa[42]. - The number of mobile subscribers reached 5.2 million, an increase of 8% year-over-year[52]. Cash Flow - The company achieved a record fourth quarter in Adjusted Free Cash Flow (FCF) of $278 million, compared to $196 million in Q4 2024[5]. - Adjusted Free Cash Flow (Adjusted FCF) for the three months ended December 31, 2025, was $233.8 million, up from $163.2 million in the same period of 2024, representing a 43% increase[70]. - Net cash provided by operating activities for the year ended December 31, 2025, was $805.9 million, compared to $756.3 million in 2024, indicating a growth of 6.3%[70]. Strategic Focus - The company is focused on organic growth and cash flow expansion, with ongoing efficiency initiatives expected to support financial performance in 2026[3]. - Liberty Latin America anticipates continued subscriber growth and demand for connectivity in the region, influenced by its digital strategy and product innovation[30]. - The company plans to expand its service offerings in new markets, targeting a 15% increase in customer relationships by the end of 2026[60]. - The company is investing in new technologies to enhance service delivery, with a focus on improving operational efficiency and customer satisfaction[57].
Liberty Latin America(LILAK) - 2025 Q4 - Annual Results