Liberty Puerto Rico reports $376M in 4Q21 revenue, $1.5B for ‘21
Liberty Puerto Rico reported $1.5 billion in revenue for the year ended Dec. 31, 2021, an 133% increase from the $624.1 million on record for the prior year, which is attributed to its acquisition of AT&T in 2020.
This is the first report in which the company is breaking down results for the full year of the integration of the mobile operation into its umbrella of services.
“This year marked our first year as a fully-integrated communications provider. Our results clearly demonstrate that we fulfilled our customers’ expectations and retained their trust,” commented Naji Khoury, president of Liberty Puerto Rico.
“We have also proven that we are a financially solid company that is growing and investing on the island, adding more than 100 new jobs in 2021 and injecting capital investments of more than $200 million into our fixed and mobile networks,” he said.
For the fourth quarter of 2021, Liberty reported $376 million in revenue, up 27% from the $296 million on record for the same three-month period in 2020.
Over the past 12 months, Liberty Puerto Rico added 72,000 customers to its fixed services (cable, broadband and telephony) and 38,900 postpaid mobile subscribers. Of those, 11,900 fixed segment customers and 11,000 postpaid mobile subscriptions were added during the fourth quarter, according to the report.
The mobile subscriber base growth was offset by the prepaid mobile segment, due mostly to distribution challenges amongst retailers in Puerto Rico that are being worked on. Liberty also added 22,600 new fiber homes passed during 2021.
Liberty also reported consolidated operating income before depreciation and amortization (OIBDA) of $141 million for the fourth quarter of 2021 and $595 million for the full 2021. The numbers show a reported growth of 22% in the fourth quarter of 2021, compared to the same quarter in the previous year. This growth considers the positive impact on revenues partially offset by higher programming and labor costs, the company stated.
Liberty turns to FCC to migrate mobile customers
In related news, on Wednesday, the Federal Communications Commission (FCC) issued a notice seeking comments on a petition that Liberty Mobile Puerto Rico filed seeking a declaratory ruling or waiver stating that AT&T Inc. must port to Liberty approximately 24,000 wireless numbers assigned to approximately 16,000 different customers located in Puerto Rico and the USVI.
It also asked that iconectiv, the Local Number Portability Administrator, take whatever administrative steps are required to permit that porting to occur. Liberty told the FCC that it acquired these wireless customers as part of its acquisition of AT&T’s wireless business in Puerto Rico and USVI in October 2020.
“This public notice is part of the FCC’s standard procedure when companies file a petition with the Commission. The agency then publishes a notice so people can submit their comments or questions regarding that particular issue,” said Carla Framil, vice president of Legal at Liberty Puerto Rico.
“On this occasion, we’re requesting the portability of approximately 24,000 wireless lines that are under our service perimeter and have area codes from regions outside of Puerto Rico or the USVI. We believe this matter will be completely transparent to these customers and their service will not be impacted,” she said.