9 May, 2018

Cable & Wireless Reports Preliminary Q1 2018 Results

Momentum Building with 25,000 RGU Additions
Delivered Strong Rebased Adjusted Segment EBITDA Growth of 8%
Operating Income of $29 million; Net Loss of $39 million

Cable & Wireless Communications Limited ("C&W") is a leading telecommunications operator in its consumer markets, which are predominantly located in the Caribbean and Latin America, providing entertainment, information and communication services to 3.4 million mobile, 0.6 million internet, 0.6 million fixed-line telephony and 0.4 million video subscribers. In addition, C&W delivers B2B services and provides wholesale services over its sub-sea and terrestrial networks that connect over 40 markets across the region.


Operating highlights:

  • RGU additions of 25,000 in Q1 2018, as compared to 10,000 in Q1 2017.

  • Broadband RGU additions of 14,000.

  • Broadband additions nearly doubled those in the prior-year period, led by Jamaica, Panama and Trinidad.

  • Over 15% of our broadband subscribers now experiencing our WiFi "Connect Box", enhancing in-home connectivity.

  • Video RGU additions of 3,000, our second consecutive quarter of growth.
  • Differentiated our proposition through improvement to our content offering, as we launched Flow Sports 2 in the Caribbean, which carries the Premier League, IPL (Indian Premier League), and other exclusive sporting events.
  • Rolled-out our "Flow Evo" platform across the Caribbean, which brings enhanced functionality through an improved EPG (Electronic Programming Guide) experience and the ability to pause live TV.
  • Fixed voice additions of 8,000.

  • Bundled offers, driving telephony growth, particularly in Jamaica and Trinidad.
  • Mobile subscribers declined by 20,000, reflecting an improvement over the prior three quarters.
  • Our loss this quarter was driven by Jamaica and the Bahamas, although the quarterly loss at BTC was the lowest since a new competitor entered the market in Q4 2016.
  • New build and upgrade initiatives delivered over 40,000 premises, primarily in Jamaica and Panama.

Full press release can be found at http://www.lla.com/ir-fixed-income-cable-wireless.html


C&W Footnotes

1. The financial figures contained in this release are prepared in accordance with IASB-IFRS. C&W's financial condition and results of operations are included in Liberty Latin America’s consolidated financial statements under U.S. GAAP. There are significant differences between the U.S. GAAP and IASB-IFRS presentations of our consolidated financial statements. Adjusted Segment EBITDA is described and defined in the full press release, which also includes a reconciliation to net loss.

2. With the exception of the presentation of SOHO RGUs, subscriber statistics are generally presented in accordance with Liberty Latin America’s policies. SOHO subscribers have not been included in C&W’s RGU counts pending further verification..

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