Strong Customer Growth and Profitability
Postpaid net adds increased by nearly 50,000 from a year ago, and home net adds turned positive with 62,000 compared to a decline of 13,000 last year. The OCF margin rose by almost two percentage points to 36.7%, and equity-free cash flow was $135 million in Q1, typically the weakest quarter for cash flow generation.
Improved B2B and Home Business Performance
B2B business grew at a 4% CAGR over the past two years, driven by an 18% increase in digital solutions. Home broadband customer base increased by almost 7%, and one-third of home customers are now convergent, compared to one-quarter a year ago.
Profitability in Key Markets
Adjusted EBITDA margin in Colombia reached 39.1%, up more than two percentage points year-over-year. In Panama, the adjusted EBITDA margin reached a record 51.2%, and the OCF in Guatemala grew 10% to a record $190 million.
M&A Progress and Strategic Initiatives
Received antitrust approval in Nicaragua and closed that portion of the LAT International sale to SBA. Entered a new agreement to sell Lati Paraguay operations to Atis Group. Signed a binding agreement with Telefonica to acquire their stake in Coltel.
Debt Management and Efficiency Improvements
Equity-free cash flow improved by $172 million compared to last year due to better control over working capital. Efforts to reduce FX exposure and volatility, including replacing dollar-denominated debt with local currency debt.