9 August, 2018

Cable & Wireless Reports Preliminary Q2 2018 Results

29,000 Fixed RGU Additions Supported by Network Upgrades/Expansion

MIAMI, FL – August 9, 2018Cable & 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 3.3 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:

  • Organic fixed RGU additions of 29,000 in Q2 2018, driven by product and service enhancements and continued network upgrade and expansion.
  • Broadband RGU additions of 11,000.
  • Significantly higher than prior-year period driven by (i) improved performance in Jamaica, where we added 4,000 RGUs through increased penetration in our upgraded network and (ii) Panama, where we continued to promote our Mast3r packages supporting 4,000 additions.
  • Rolling out enhanced in-home connectivity for subscribers through our WiFi "Connect Box", now installed across over 20% of our broadband subscribers.
  • Video RGU additions of 8,000, our best quarterly performance since Q2 2016.
  • Momentum building as network expansion / upgrades and product enhancements, such as "Flow Evo", drove quarterly additions. Jamaica had a particularly strong quarter, adding 5,000 video RGUs.
  • Following the launch of Flow Evo in January and other platform improvements, we have seen NPS gains across C&W's largest video markets including Trinidad, Jamaica and Barbados.
  • Fixed-line telephony RGU additions of 10,000, driven by our successful bundling strategy.
  • Mobile subscribers declined by 89,000.
  • This was primarily driven by prepaid losses in Panama (51,000) and Jamaica (16,000) and mainly the result of competitive factors and a more targeted approach to promotional activity.
  • In the Bahamas, competitive intensity continued to drive subscriber declines, totaling 10,000 in Q2, as compared to a loss of 24,000 in Q2 2017.
  • New build and upgrade initiatives delivered over 40,000 premises in Q2 and over 80,000 YTD.

The full fixed income release for C&W Communications can be found on its parent company’s website: www.lla.com/ir

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