Liberty Latin America (LILA) Company presentation summary

Business overview and strategy

• Operates across Latin America and the Caribbean with diversified revenue streams from fixed, mobile, and subsea connectivity, generating $2.6 billion in FY 2025 revenue and $1.2 billion in adjusted OIBDA.

• Focuses on recurring revenue, serving over 20 B2C and B2B markets, with 75% of revenue in USD or USD-pegged currencies.

• Maintains a robust balance sheet with $688 million in undrawn borrowing capacity and a flexible, long-dated capital structure.

• Strategic infrastructure assets include a 60,000 km subsea and terrestrial network connecting over 30 countries, with ongoing expansion projects like Manta and El Salvador cables.

• Leadership team has deep industry expertise, supporting growth and operational excellence.

Market position and operating environment

• Operates mainly in two-player markets with healthy structures and low penetration, offering growth opportunities in fixed and mobile segments.

• 98% of the fixed network is gigabit-ready, with LTE or 5G coverage across all mobile markets.

• Caribbean and Panama markets show higher GDP growth and lower inflation compared to regional averages, supporting favorable operating conditions.

• Product offerings emphasize fixed-mobile convergence, postpaid migration, and integrated B2B solutions, driving customer retention and ARPU growth.

Financial performance and metrics

• Achieved 2% revenue CAGR and 7% adjusted OIBDA CAGR from 2022 to 2025, with adjusted OIBDA margin expanding to 47%.

• Property and equipment additions remained stable at 15% of revenue, supporting network upgrades and expansion.

• Outperformed most US and LATAM peers in profitability growth, driven by cost focus and disciplined capital intensity.

• Liberty Caribbean and C&W Panama segments delivered strong margin expansion and double-digit adjusted OIBDA growth, despite challenges like Hurricane Melissa.

• Liberty Networks segment showed solid underlying revenue growth and strong profitability, with higher P&E additions due to Project Manta.