Liberty Latin America Ltd. (LILAK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Liberty Latin America Ltd. (Lilak) emerge como una potencia de telecomunicaciones dinámicas que remodelan la conectividad digital en América Latina, que ofrece un modelo comercial integral que navega estratégicamente en los paisajes complejos del mercado. Al aprovechar un enfoque innovador para la infraestructura de telecomunicaciones, los servicios móviles y las soluciones digitales, Lilak se ha posicionado como una fuerza transformadora en la entrega de Internet de alta velocidad, redes móviles y paquetes de comunicación integrados a diversos segmentos de clientes. Este intrincado lienzo de modelo de negocio revela cómo la compañía equilibra meticulosamente la innovación tecnológica, las asociaciones estratégicas y los servicios centrados en el cliente para impulsar el crecimiento en mercados regionales desafiantes y en evolución.

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: asociaciones clave

Fabricantes de equipos de telecomunicaciones

Liberty Latin America se asocia con los siguientes fabricantes de equipos de telecomunicaciones clave:

Fabricante	Tipo de equipo	Detalles de la asociación
Sistemas de Cisco	Infraestructura de red	Soluciones de hardware y software de redes
Tecnologías Huawei	Equipo de red móvil	Hardware de infraestructura y telecomunicaciones 5G
Redes Nokia	Infraestructura de telecomunicaciones	Equipos y soluciones de red inalámbrica

Proveedores locales de servicios de Internet en mercados latinoamericanos

Las asociaciones clave del proveedor de servicios de Internet regional incluyen:

• Telefónica Brasil
• Claro Latina América
• Movistar Chile
• Tigo Colombia

Proveedores de contenido y compañías de medios

Proveedor de contenido	Tipo de contenido	Alcance de la asociación
Netflix	Servicios de transmisión	Distribución y agrupación de contenido
Disney+	Contenido de medios	Integración de la plataforma de transmisión
ESPN	Contenido deportivo	Transmisión deportiva en vivo y paquetes

Servicios en la nube y socios de infraestructura de tecnología

Asociaciones de infraestructura en la nube y tecnología:

• Servicios web de Amazon (AWS)
• Microsoft Azure
• Plataforma en la nube de Google

Operadores de redes móviles regionales

Operador	País	Enfoque de asociación
América Móvil	México	Acuerdos de intercambio de redes y roaming
Milicom	América Central	Colaboración de infraestructura
Oi Telecom	Brasil	Servicios de red al por mayor

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: actividades clave

Desarrollo de infraestructura de telecomunicaciones

Liberty Latin America invirtió $ 296 millones en infraestructura de red en 2022. La cobertura de red abarca 19 países en América Latina y el Caribe.

Inversión en infraestructura	Alcance geográfico	Tipo de red
$ 296 millones (2022)	19 países	Redes de fibra óptica y de cable

Provisión de servicios de Internet de cable y banda ancha

Suscriptores de banda ancha totales: 2.1 millones a partir del tercer trimestre 2023. Las velocidades promedio de Internet varían entre 100-500 Mbps.

• Suscriptores de banda ancha residencial: 1.8 millones
• Suscriptores de banda ancha de negocios: 300,000
• Ingresos promedio de banda ancha mensual por usuario: $ 45.60

Operaciones de red móvil

Base de suscriptores móviles: 3.4 millones de usuarios en América Latina en 2023.

Suscriptores móviles	Tecnología de red	Área de cobertura
3.4 millones	4G/LTE	Región de América Latina

Distribución de contenido digital

Suscriptores de video digital: 1.2 millones. Gasto anual de licencias de contenido: $ 78 millones en 2022.

• Suscriptores de la plataforma de transmisión: 650,000
• TV por cable suscriptores digitales: 550,000

Servicio al cliente y soporte técnico

Presupuesto operativo anual de atención al cliente: $ 112 millones. Los canales de soporte incluyen centros de teléfono, chat en línea y servicios físicos.

Presupuesto de apoyo	Canales de soporte	Tiempo de respuesta promedio
$ 112 millones	Teléfono, chat en línea, centros físicos	24-48 horas

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: recursos clave

Infraestructura extensa de la red de telecomunicaciones

Liberty Latin America opera infraestructura de red en 21 países de América Latina y el Caribe.

Activo de red	Cantidad/especificación
Cobertura de red de fibra	Más de 52,000 kilómetros de infraestructura de fibra óptica
Huella de la red de cable	Aproximadamente 9.5 millones de viviendas aprobadas
Torres de red móvil	1,200+ sitios de transmisión móvil

Licencias de espectro

Holdaciones de espectro clave en múltiples mercados:

• Chile: 700 MHz, 2.6 GHz, bandas de espectro de 3.5 GHz
• Panamá: 700 MHz, Licencias de espectro de 1.9 GHz
• Puerto Rico: gama completa de asignaciones de espectro móvil

Tecnología avanzada y plataformas digitales

Categoría de tecnología	Capacidades específicas
Infraestructura en la nube	Red híbrida de múltiples nubes con tiempo de actividad del 99.99%
Centros de datos	3 centros de datos regionales primarios con más de 500 servidores de capacidad
Plataformas digitales	Soluciones avanzadas de VoIP, IoT y Enterprise Cloud

Fuerza laboral de telecomunicaciones calificadas

Conteo total de empleados: 9.800 profesionales de telecomunicaciones en los mercados latinoamericanos.

• Fuerza laboral de ingeniería: 2.300 profesionales técnicos especializados
• Equipo de atención al cliente: 3.600 representantes multilingües
• Gestión y equipo ejecutivo: 450 líderes de telecomunicaciones experimentados

Reconocimiento de marca

Métrico de mercado	Valor
Conciencia de marca	72% en mercados latinoamericanos primarios
Índice de fidelización del cliente	68% de la tasa de clientes habituales
Puntaje de reputación del mercado	8.2/10 en todos los servicios de telecomunicaciones

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: propuestas de valor

Soluciones integrales de conectividad digital

Liberty Latin America ofrece servicios de telecomunicaciones en 20 mercados en América Latina y el Caribe. A partir del cuarto trimestre de 2023, la compañía atendió aproximadamente 11.2 millones de clientes residenciales y comerciales.

Categoría de servicio	Alcance del cliente	Cobertura del mercado
Banda ancha fija	3.5 millones de suscriptores	17 países
Servicios móviles	4.7 millones de suscriptores móviles	15 países
Televisión por cable	3 millones de suscriptores de video	12 países

Servicios de Internet y móviles de alta velocidad

La compañía ofrece Internet de alta velocidad con velocidades promedio que van desde 50 Mbps hasta 300 Mbps en su red.

• Cobertura de red 4G LTE en mercados primarios
• Velocidades promedio de datos móviles de 25-50 Mbps
• Planes móviles prepagos y pospago disponibles

Paquetes de entretenimiento y comunicación agrupados

Liberty Latin America genera aproximadamente $ 3.2 mil millones en ingresos anuales de paquetes de servicios integrados.

Tipo de paquete	Precio mensual promedio	Servicios incluidos
Paquete básico	$45	Internet + cable básico
Paquete premium	$85	Internet de alta velocidad + cable + móvil

Cobertura de red confiable en regiones desatendidas

La infraestructura de la red abarca aproximadamente 50,000 kilómetros de redes de cable de fibra óptica y coaxial en América Latina.

Precios competitivos para servicios de telecomunicaciones

Servicios promedio de la estrategia de fijación de precios 15-20% más bajos que los principales competidores nacionales de telecomunicaciones en los mercados objetivo.

• Banda ancha fija a partir de $ 25/mes
• Planes móviles desde $ 15/mes
• No hay requisitos de contrato a largo plazo

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: relaciones con los clientes

Plataformas de soporte al cliente multicanal

Liberty Latin America proporciona atención al cliente a través de:

• Soporte telefónico: centros de servicio al cliente 24/7
• Soporte de chat en línea
• Canales de soporte por correo electrónico
• Interfaz de servicio al cliente de la aplicación móvil

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte telefónico	8.2 minutos	87.5%
Chat en línea	5.6 minutos	92.3%
Soporte por correo electrónico	24 horas	79.6%

Paquetes de servicio personalizados

Liberty Latin America ofrece paquetes de servicios personalizados para diferentes segmentos de clientes:

• Paquetes de telecomunicaciones residenciales
• Soluciones empresariales comerciales
• Servicios de Internet y móviles agrupados

Portales de autoservicio digital

Las plataformas digitales incluyen:

• Administración de cuentas en línea
• Sistemas de facturación y pago
• Opciones de actualización/rebaja del servicio

Función de portal digital	Usuarios activos mensuales	Transacciones completadas
Gestión de cuentas	672,000	1.3 millones
Facturación en línea	541,000	987,000

Programas de lealtad y retención

Métricas de retención de clientes:

• Tasa anual de retención de clientes: 84.3%
• Membresía del programa de fidelización: 62% de la base total de clientes

Compromiso regular del cliente

Estadísticas de compromiso de punto de contacto digital:

Canal digital	Interacciones mensuales	Tasa de participación del usuario
Aplicación móvil	1.2 millones	68%
Redes sociales	890,000	52%

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: canales

Equipos de ventas directos

Liberty Latin America mantiene una fuerza de ventas directa de 2.347 representantes en América Latina y el Caribe a partir del cuarto trimestre de 2023.

Región	Tamaño del equipo de ventas	Ingresos promedio por representante
caribe	876	$345,000
América Latina	1,471	$412,000

Sitio web en línea y aplicaciones móviles

Las plataformas digitales generaron $ 287.4 millones en ingresos en 2023.

• Descargas de aplicaciones móviles: 1.2 millones
• Sitio web Visitantes únicos mensuales: 3.4 millones
• Transacciones de servicio en línea: 2.8 millones por trimestre

Tiendas minoristas y centros de servicio

Liberty Latin America opera 423 ubicaciones minoristas en territorios de servicio.

País	Número de tiendas	Ingresos anuales de la tienda
Chile	87	$ 64.2 millones
Panamá	112	$ 78.5 millones
Regiones caribeñas	224	$ 132.7 millones

Redes de distribuidores autorizadas

La compañía mantiene 612 distribuidores autorizados en sus regiones operativas.

• Ingresos anuales promedio del concesionario: $ 1.2 millones
• Ingresos de la red total de distribuidores: $ 734.4 millones en 2023

Plataformas de marketing digital y de telemarketing

Gastos de marketing digital: $ 42.3 millones en 2023.

Canal de marketing	Gasto anual	Costo de adquisición de clientes
Publicidad digital	$ 24.6 millones	$87
Telemarketing	$ 17.7 millones	$65

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: segmentos de clientes

Consumidores de banda ancha residencial

Liberty Latin America atiende a consumidores de banda ancha residenciales en 20 países de América Latina y el Caribe.

Segmento de mercado	Recuento de suscriptores	Ingresos mensuales promedio por usuario (ARPU)
Banda ancha residencial	4.3 millones	$25.60

Empresas pequeñas y medianas empresas

La compañía se dirige a pequeñas y medianas empresas con soluciones de telecomunicaciones a medida.

Segmento de negocios	Total de clientes empresariales	Gasto mensual promedio
PYME Telecomunicaciones	185,000	$350

Clientes de telecomunicaciones corporativas

Liberty Latin America proporciona infraestructura integral de telecomunicaciones corporativas.

• Total de clientes corporativos: 3,200
• Ingresos de soluciones empresariales: $ 412 millones (2023)
• Valor promedio del contrato: $ 135,000 anualmente

Usuarios de teléfonos móviles

Cobertura del segmento de telecomunicaciones móviles en América Latina.

Segmento móvil	Suscriptores móviles totales	Uso de datos móviles
Telecomunicaciones móviles	2.1 millones	8.5 GB por usuario mensual

Consumidores de entretenimiento digital

Servicios de transmisión y entretenimiento digital ofrecidos a los clientes.

• Suscriptores totales de entretenimiento digital: 1.2 millones
• Ingresos mensuales de entretenimiento digital: $ 38.5 millones
• ARPU de servicio digital promedio: $ 32.10

Liberty Latin America Ltd. (Lilak) - Modelo de negocio: Estructura de costos

Mantenimiento de infraestructura de red

Costos de mantenimiento de infraestructura de red anual para Liberty Latina América en 2023: $ 387.6 millones

Categoría de infraestructura	Costo anual
Mantenimiento de la red de cables	$ 156.3 millones
Mantenimiento de la red de fibra óptica	$ 112.4 millones
Mantenimiento de la red inalámbrica	$ 118.9 millones

Inversiones de tecnología y equipos

Gastos de capital de tecnología y equipo total para 2023: $ 524.1 millones

• Actualizaciones de equipos de red: $ 276.5 millones
• Infraestructura del centro de datos: $ 89.3 millones
• Equipo local del cliente: $ 158.3 millones

Salarios y capacitación de los empleados

Gastos totales de personal para 2023: $ 612.8 millones

Categoría de empleado	Gastos salariales anuales
Personal técnico	$ 287.4 millones
Servicio al cliente	$ 174.6 millones
Gestión y administración	$ 150.8 millones

Gastos de marketing y adquisición de clientes

Costos totales de marketing y adquisición de clientes en 2023: $ 213.5 millones

• Marketing digital: $ 87.2 millones
• Publicidad tradicional: $ 62.7 millones
• Programas de retención de clientes: $ 63.6 millones

Costos de licencia de espectro y cumplimiento regulatorio

Gastos regulatorios y de licencia total para 2023: $ 98.4 millones

Categoría de cumplimiento	Costo anual
Tarifas de licencia de espectro	$ 67.9 millones
Cumplimiento regulatorio	$ 30.5 millones

Liberty Latin America Ltd. (Lilak) - Modelo de negocios: flujos de ingresos

Servicios de Internet basados ​​en suscripción

Ingresos de los servicios de banda ancha residencial en 2022: $ 1.2 mil millones

Nivel de servicio	Tasa de suscripción mensual	Recuento de suscriptores
Banda ancha básica	$39.99	425,000
Banda ancha premium	$69.99	275,000

Tarifas de servicio de red móvil

Ingresos del servicio móvil para 2022: $ 987 millones

• Suscriptores móviles prepagos: 3.2 millones
• Suscriptores móviles pospago: 1.8 millones

Monetización de contenido digital

Contenido digital e ingresos por servicios de valor agregado: $ 156 millones en 2022

Categoría de servicio	Ingresos anuales
Servicios de transmisión	$ 78 millones
Almacenamiento en la nube	$ 42 millones
Otros servicios digitales	$ 36 millones

Soluciones de telecomunicaciones empresariales

B2B Ingresos de telecomunicaciones: $ 532 millones en 2022

• Servicios de red corporativa: $ 287 millones
• Soluciones de comunicación en la nube: $ 145 millones
• Servicios de TI administrados: $ 100 millones

Servicios de ventas e instalación de equipos

Ingresos relacionados con el equipo: $ 214 millones en 2022

Categoría de equipo	Ingresos anuales de ventas
Hardware de redes	$ 89 millones
Equipo de premisas del cliente	$ 67 millones
Servicios de instalación	$ 58 millones

Liberty Latin America Ltd. (LILAK) - Canvas Business Model: Value Propositions

You're looking at how Liberty Latin America Ltd. (LILAK) delivers distinct value to its customers across its footprint in the Caribbean and Latin America as of late 2025. The core of their offering is built around bundling services and aggressively upgrading the underlying network infrastructure.

Integrated fixed and mobile bundles (FMC) for simplicity and value

Liberty Latin America Ltd. heavily pushes Fixed-Mobile Convergence (FMC) as a key differentiator. This strategy aims to simplify billing and increase customer stickiness by offering combined packages.

The penetration rate for FMC across key markets was reported as greater than 30% as of the first quarter of 2025. This focus is clearly driving subscriber growth; in Q1 2025 alone, the company added close to 60,000 organic broadband and postpaid mobile net subscriber additions across the C&W Caribbean, C&W Panama, and Liberty Costa Rica segments. For the first half of 2025, total net organic additions across these core segments reached just over 100,000. The success of this bundling is evident in the Q3 2025 results, where Liberty Caribbean's performance benefited from the continued strategic focus on FMC initiatives.

High-speed broadband internet and next-generation mobile networks (5G infrastructure)

A significant value proposition is the commitment to next-generation speed and capacity. By the end of 2024, 97% of Liberty Latin America Ltd.'s fixed networks were already capable of delivering speeds of at least 1 Gbps, with the goal to reach nearly 100% coverage in 2025.

On the mobile side, Liberty Costa Rica is leading the charge on 5G Standalone (5G SA) deployment. In July 2025, they announced a contract with Ericsson to deploy over 1,400 5G SA network sites. This deployment is set to benefit more than 3.7 million subscribers across the entire national territory of Costa Rica. Liberty Costa Rica invested US$16.2 million to secure the necessary 5G spectrum blocks. Across the region, as of September 2025, 11 operators in six countries are actively investing in 5G SA networks.

Tailored postpaid mobile plans, such as the new multi-line bundle Liberty Mix

To capture and retain high-value mobile customers, Liberty Latin America Ltd. is rolling out specific plans. The introduction of the new postpaid customer value proposition, Liberty Mix, occurred in July 2025, with expectations that it would help support commercial momentum through the second half of the year. This focus on postpaid is paying dividends; in Q3 2025, postpaid additions were the highest in three years, led by Costa Rica. Liberty Caribbean saw its residential mobile revenue increase by 6% year-over-year on a rebased basis in Q2 2025, driven by postpaid additions and price increases.

Enterprise-grade connectivity, data center, and managed IT solutions for B2B

The enterprise segment, often channeled through Liberty Networks, provides essential connectivity and managed services. Liberty Networks saw its revenue increase by 6% in Q3 2025, fueled by growth in both wholesale and enterprise businesses, particularly subsea capacity revenue. The company expanded its wholesale footprint in Q1 2025, establishing new Points of Presence (PoPs) in Merida, Mexico, and Quetzaltenango, Guatemala, bringing the total wholesale PoPs to 94. While B2B momentum improved in Q3 2025, it is worth noting that overall B2B revenue saw a significant decline of 18% year-over-year in Q2 2025, largely due to the comparison against a strong project revenue period in the prior year.

Here's a quick look at some key operational metrics supporting these value propositions as of late 2025:

Metric	Segment/Area	Value/Period End	Context
Fixed Network 1 Gbps Coverage	Overall Fixed Network	Approaching 100% (Target for 2025)	Upgraded infrastructure for high-speed broadband
5G SA Network Sites Deployed	Liberty Costa Rica	Over 1,400 sites	In partnership with Ericsson, launched July 2025
FMC Penetration	Key Markets	Greater than 30%	As of Q1 2025
H1 2025 Net Subscriber Additions	Broadband & Postpaid Mobile (Excl. PR)	Just over 100,000	Combined organic additions across three key segments
Q3 2025 Rebased Adjusted OIBDA Growth	Liberty Caribbean	11% Year-over-Year	Driven by efficiency and FMC
Wholesale PoPs	Liberty Networks	94 Total	Reflecting B2B/Enterprise expansion as of Q1 2025

Resilient, defintely essential, communications during natural disasters

Liberty Latin America Ltd.'s value proposition extends to ensuring connectivity even when facing severe weather events, a critical need in the Caribbean. The company actively works to restore and maintain essential services following major storms.

The impact of Hurricane Melissa in Q3 2025, particularly in Jamaica, necessitated immediate infrastructure repair. In response, the company launched a collaboration with Starlink to deploy a direct-to-cell satellite service to further aid essential communications for customers during this difficult period. Furthermore, to support recovery efforts, Liberty Latin America Ltd. anticipates receiving proceeds from its weather derivative in Q4 2025. The prior year's Hurricane Beryl also caused adverse effects, with fixed residential revenue in Liberty Caribbean declining due to the impact of that storm in Q3 2024.

• Postpaid additions in Q3 2025 were the highest in three years.
• Rebased Adjusted OIBDA growth for the Group was 7% YoY in Q3 2025.
• Liberty Puerto Rico stabilized its business, driving 21% YoY rebased Adjusted OIBDA growth in Q2 2025.
• The company maintained its guidance of a 14% capex-to-revenues ratio for 2025.

Liberty Latin America Ltd. (LILAK) - Canvas Business Model: Customer Relationships

You're looking at how Liberty Latin America Ltd. (LILA) manages its diverse customer base across the Caribbean and Latin America as of late 2025. It's a mix of high-touch service for big players and digital scaling for the masses, all while trying to win back trust.

Dedicated account management for large enterprise and government B2B clients is clearly a priority, especially given the expected H2 2025 catalyst from the B2B segment. While specific account manager headcounts aren't public, the focus is evident in the Liberty Networks segment, where enterprise revenue continues to benefit from managed services and B2B connectivity, as noted in Q1 2025 results. This high-touch approach is critical because, despite this focus, reported B2B revenue fell by 30% year-over-year in Q2 2025 on both reported and rebased bases, largely due to fewer project approvals compared to the prior year.

The company is definitely focused on improving Net Promoter Score (NPS) to rebuild customer trust. This is an internal metric driving operational focus, though Liberty Latin America Ltd. (LILA) hasn't publicly disclosed the latest NPS figures or the specific percentage improvement achieved through late 2025. The effort is tied to overall customer base management, which helped maintain a rebased Adjusted OIBDA expansion of 7% year-over-year through Q3 2025.

You see direct results in the postpaid churn reduction efforts, which have trended favorably in 2025. This positive trend supported mobile revenue growth. For example, Liberty Caribbean reported 41,000 net organic postpaid subscriber additions over the twelve months leading up to Q2 2025. Furthermore, Q3 2025 saw postpaid additions that were the highest in three years, led by strength in Costa Rica.

Driving scale through digital channels is key, seen in the focus on self-service and digital engagement to drive incremental gross adds. A major indicator of this digital bundling success is the Fixed-Mobile Convergence (FMC) penetration, which stood at over 30% across key markets as of Q1 2025. This strategy is clearly working to grow the base; Liberty Latin America Ltd. (LILA) added just over 100,000 net organic broadband and postpaid additions across Liberty Caribbean, C&W Panama, and Liberty Costa Rica in H1 2025.

For traditional support and sales, Liberty Latin America Ltd. (LILA) still relies on retail stores and call centers. These channels support the broader commercial momentum, which resulted in Liberty Latin America Ltd. (LILA) reporting a return to positive Operating Income in Q3 2025. The company's overall operational efficiency is reflected in the Adjusted OIBDA margin hitting 39% for the third quarter of 2025.

Here's a quick look at the commercial momentum supporting these relationship efforts through the first three quarters of 2025:

Metric	Value/Period	Source Context
Net Organic Broadband & Postpaid Additions (H1 2025)	>100,000	Across Liberty Caribbean, C&W Panama, and Liberty Costa Rica
Postpaid Additions (Q3 2025)	Highest in three years	Led by Costa Rica
Fixed-Mobile Convergence (FMC) Penetration	>30%	As of Q1 2025
Adjusted OIBDA Margin (Q3 2025)	39%	Sequential growth from all operating segments
Liberty Caribbean Postpaid Net Adds (Last 12 Months to Q2 2025)	41,000	Net organic additions

The relationship strategy also involves rapid response to external events. Following Hurricane Melissa in Q3 2025, Liberty Latin America Ltd. (LILA) launched a collaboration with Starlink to deliver a direct-to-cell satellite service to aid essential communications for customers in the Caribbean.

The customer base growth and management efforts are summarized by these key subscriber and service metrics:

• Organic broadband and postpaid mobile net adds in Q1 2025 were over 40,000.
• Liberty Caribbean mobile residential revenue increased by 6% rebased year-over-year in Q2 2025.
• Liberty Costa Rica mobile revenue growth was driven by postpaid subscriber increases in Q2 2025.
• The company expects to receive weather derivative proceeds in Q4 to support recovery efforts following the storm.

Liberty Latin America Ltd. (LILAK) - Canvas Business Model: Channels

You're looking at how Liberty Latin America Ltd. (LILAK) gets its services-broadband internet, telephony, mobile, and digital video-into the hands of its residential and business customers, plus how it handles its wholesale network sales. The channels are a mix of physical presence and digital reach across its operating territories.

Direct sales force and retail stores across the operating territories.

Liberty Latin America serves customers across more than 20 countries in Latin America and the Caribbean. This physical reach is managed through consumer brands like BTC, Flow, Liberty, and Más Móvil. The direct sales force and retail footprint are essential for closing complex B2B deals and providing in-person support for consumer services, especially in markets where digital adoption for sales is still maturing.

• Operating under consumer brands: BTC, Flow, Liberty, Más Móvil.
• Serving over 20 countries across the region.
• B2B growth in C&W Panama was driven by large enterprise and government projects.

Digital platforms and online channels for sales and customer care.

Digital engagement is a clear priority, especially as the company pushes its Fixed-Mobile Convergence (FMC) strategy. This channel supports both new customer acquisition and ongoing customer care, helping to drive operational leverage. For instance, in Q1 2025, FMC penetration across key markets was reported at over 30% year-over-year. The commercial momentum in Q3 2025, which led to year-over-year rebased revenue growth, was supported by strong mobile business performance and postpaid additions.

Here's a look at the subscriber momentum feeding through these channels in the first half of 2025:

Metric	Period Ending	Value	Notes
Organic Broadband and Postpaid Net Adds (Excl. PR)	Q1 2025	Close to 60,000	Over 50% increase vs. Q4 2024
Organic Broadband and Postpaid Net Adds (Excl. PR)	H1 2025	Just over 100,000	Across Liberty Caribbean, C&W Panama, and Liberty Costa Rica
Group Adjusted OIBDA Margin	Q3 2025	39%	Sequential growth from Q2 2025

The company saw its strongest quarterly postpaid additions in three years in Q3 2025, led by Costa Rica. That's real traction.

Wholesale channel for subsea capacity and network lease to other carriers.

The Liberty Networks segment is a key channel for wholesale revenue, leveraging the subsea and terrestrial fiber optic network that connects more than 30 markets in the region. This channel showed strong performance in Q3 2025. Revenue growth here is directly tied to capacity sales, which is a high-margin business when executed well.

In Q3 2025, Liberty Networks reported:

• Rebased revenue growth of 6% year-over-year.
• Rebased Adjusted OIBDA growth of 10% year-over-year.
• Wholesale segment specifically saw 5% rebased revenue growth, driven by subsea capacity revenue.
• Reported revenue for the segment was $117 million.

This segment is definitely a growth engine, posting its best quarterly rebased revenue growth in about two years.

Field technicians and installation teams for fixed services deployment.

The deployment channel relies heavily on field technicians for the physical installation and maintenance of fixed services, like fiber-to-the-home (FTTH) and upgrades. The company has been focused on network enhancement, targeting near 100% of its fixed network to deliver 1 Gbps speeds by the close of 2025. This requires significant coordination from installation teams.

Key deployment metrics related to this channel include:

• Targeting near 100% fixed network delivery of 1 Gbps by 2025.
• Expansion of wholesale Points of Presence (PoPs) reached 94 by Q1 2025.
• Investment in rolling out new subsea cable systems to drive future revenue.
• Management is focused on lowering capital intensity, targeting a CapEx-to-revenue ratio of 14% over the next few years, down from the current 16%.

The deployment efforts are supported by a strategic goal to reduce capital intensity, meaning the field teams are working more efficiently on upgrades rather than broad, new build-outs, outside of strategic subsea projects.

Finance: draft 13-week cash view by Friday.

Liberty Latin America Ltd. (LILAK) - Canvas Business Model: Customer Segments

Liberty Latin America Ltd. serves a broad base of customers across its operating footprint, segmented into residential consumers, businesses of various sizes, and wholesale partners.

Residential customers constitute a core segment, receiving integrated service offerings including fixed services like video, broadband, and telephony, alongside mobile subscriptions. Across all operations, Liberty Latin America Ltd. ended Q2 2025 with over 10.6 million mobile and fixed accesses in total. The focus on Fixed-Mobile Convergence (FMC) is strong, with penetration exceeding 30% in key markets as of Q1 2025. Commercial momentum in Q3 2025 was marked by the highest quarterly mobile postpaid additions in three years across the group. For instance, in Liberty Caribbean, residential mobile revenue saw a rebased increase of 2% year-over-year in Q3 2025. Liberty Costa Rica's rebased growth in Q3 2025 was also supported by higher residential mobile revenue. In contrast, Liberty Puerto Rico experienced a 7% rebased decrease in residential mobile revenue in Q3 2025.

The Business-to-Business (B2B) segment targets small/medium enterprises, large enterprises, and government agencies with specialized connectivity, data center, hosting, managed solutions, and IT support. Momentum in the B2B segment improved in Q3 2025 following prior challenges. Liberty Caribbean reported a rebased B2B revenue increase of 2% in Q3 2025. However, Liberty Puerto Rico's B2B revenue saw a significant rebased decline of 16% in Q3 2025. Liberty Networks, which serves the enterprise business, reported a 6% year-over-year rebased revenue growth in Q3 2025, fueled by enterprise expansion and subsea capacity revenue.

Wholesale customers primarily consist of other mobile network operators that lease subsea capacity from Liberty Latin America Ltd.'s Liberty Networks segment. Liberty Latin America Ltd. supports over 8 million mobile subscribers across Latin America and the Caribbean and manages wholesale operations across 21 countries. The Liberty Networks segment's rebased revenue grew by 6% year-over-year in Q3 2025, with wholesale revenue expansion being a key driver.

The company's customer base is spread across geographically diverse markets, which are often managed as distinct operational silos. The performance and customer dynamics vary significantly by region, as shown by the following data points from recent quarters:

Geographic Market	Reported Revenue (Q2 2025)	Rebased Revenue Change (Q3 2025 vs. Prior Year)	Key Segment Trend (Latest Data)
Liberty Puerto Rico	US$301 million (Q2 2025)	-5% (Reported Revenue for 9 months ended Sept 30, 2025)	B2B revenue declined 16% rebased in Q3 2025.
C&W Panama	US$177 million (Q2 2025)	3% (Reported Revenue for Q3 2025)	Added organic broadband and postpaid mobile net subscribers in H1 2025.
Liberty Caribbean	N/A	3% (Reported and Rebased Revenue for Q3 2025)	Residential mobile revenue increased 2% rebased in Q3 2025.
Liberty Costa Rica	US$151 million (Q2 2025)	6% (Reported Revenue for Q3 2025)	Led postpaid additions in Q3 2025.

The operational structure for customer engagement involves distinct strategies for each geography. For instance, C&W Caribbean saw its mobile residential revenue increase by 5% rebased in Q1 2025, driven by prepaid ARPU following price increases, primarily in Jamaica. Liberty Costa Rica's Q3 2025 rebased revenue growth of 3% was primarily from residential mobile revenue. You should note that Liberty Puerto Rico's Q1 2025 revenue decline of 11% rebased was partially due to the acquisition of EchoStar's prepaid mobile customer base in the prior year, which contributed approximately $10 million of revenue in each quarter.

The company's customer base is served through various brands, including BTC, Flow, Liberty, and Más Móvil, across its operating regions.

• Residential customers seek integrated entertainment and communication packages.
• B2B customers require specialized connectivity and IT solutions.
• Wholesale partners lease subsea capacity and network access.
• Organic net additions in H1 2025 totaled just over 100,000 across Liberty Caribbean, C&W Panama, and Liberty Costa Rica.

Liberty Latin America Ltd. (LILAK) - Canvas Business Model: Cost Structure

You're looking at the cost side of Liberty Latin America Ltd. (LILAK) for late 2025, and honestly, the numbers show a business heavily investing in its future while managing the fallout from specific, large write-downs. The most immediate financial marker is the H1 2025 operating loss of $205 million.

This loss isn't just day-to-day spending; it was primarily driven by a significant, non-cash event: a $494 million impairment charge related to spectrum intangible assets at Liberty Puerto Rico, which you need to factor in when assessing recurring operational costs. Still, the underlying business showed operating leverage, with Adjusted OIBDA growing 8% year-over-year for the first half.

Here's a quick look at how the top and bottom lines framed the cost environment for the first six months of 2025:

Metric	H1 2025 Amount	Context
Revenue	$2,170 million	Reported revenue for the six months ended June 30, 2025.
Adjusted OIBDA	$822 million	Reflecting 8% year-over-year rebased growth.
Operating Income (Loss)	($205 million)	The reported operating loss for the six months ended June 30, 2025.
Q2 2025 P&E Additions	$150 million	Reflecting ongoing network investment in the second quarter.

Network infrastructure capital expenditure (CapEx) remains a major structural cost, though management is actively trying to dial it back. The target for Property and Equipment (P&E) additions is now 14% of revenue over the next few years, a reduction from the previous 16% level, signaling a shift from heavy build-out to optimization. You see this investment continuing in specific markets; for instance, Liberty Costa Rica invested $32.5 million in the first six months of 2025 for its network build, including 5G deployment and fiber-to-the-home expansion.

Significant operating expenses (OpEx) for network maintenance and commercial activities are baked into the cost base, but the focus is clearly on driving efficiency to improve margins. The company noted cost reduction activities across the Group to benefit from operating leverage. While specific dollar amounts for content acquisition or total employee salaries and benefits across all regional operations aren't broken out in the H1 reports, the general theme is cost discipline supporting Adjusted OIBDA momentum. Employee costs are inherently high given the multi-regional footprint spanning the Caribbean, Panama, and Costa Rica.

Here are the concrete data points related to cost control and investment activity:

• The company expects capital intensity to decline more broadly across the Group.
• Cost reduction efforts contributed to an improvement in the consolidated adjusted OIBDA margin, expanding by 340 basis points year-over-year in H1 2025.
• Liberty Costa Rica secured $100 million in financing specifically for 5G and fiber optic network deployment.
• In Costa Rica's 5G spectrum auction, each operator, including Liberty, agreed to pay $16.2 million for frequencies.
• Liberty Caribbean's Adjusted OIBDA growth was supported by efficiency initiatives.

Finance: review the Q3 2025 P&E spend against the 14% of revenue target by next Tuesday.

Liberty Latin America Ltd. (LILAK) - Canvas Business Model: Revenue Streams

You're looking at how Liberty Latin America Ltd. (LILAK) brings in the money as of late 2025. The core of the business is still built around connectivity subscriptions for homes and mobile users, but the growth story is definitely shifting.

Residential subscription revenue from fixed services like broadband and video, alongside mobile services, forms the base. You see the company pushing Fixed-Mobile Convergence (FMC) hard, which helps lock in customers. For instance, in Liberty Caribbean during Q3 2025, fixed residential revenue was up 5% on a rebased basis, while both residential mobile and B2B revenue saw a 2% rebased increase. Also, Liberty Costa Rica saw residential mobile revenue growth driven by postpaid subscriber additions.

Business-to-Business (B2B) revenue from enterprise connectivity and managed services is showing better momentum now. After a tough Q1 2025 where B2B revenue declined, Q3 2025 saw revenue helped by better momentum in this segment. To be fair, Liberty Puerto Rico's B2B revenue still saw a 16% decline on a rebased basis in Q3, which is a specific challenge there.

Wholesale revenue from subsea capacity and network lease is a key growth area for Liberty Networks. This segment reported revenue increasing 6% year-over-year on both reported and rebased bases in Q3 2025, with subsea capacity revenue fueling that performance. They are still investing in new subsea cable systems to drive future revenue.

Mobile equipment sales revenue is also a component, showing up as a driver in specific markets like Liberty Costa Rica. It's a smaller piece, but it contributes to the overall top line when handset sales are strong.

The most recent snapshot shows Liberty Latin America Ltd. (LILAK) reported Q3 2025 revenue of $1.1125 billion, which represented a sequential uplift from the prior quarter. Here's a quick look at how the reported revenue for Q3 2025 compared sequentially:

Metric	Q3 2025 Revenue (USD Millions)	Q2 2025 Revenue (USD Millions)
Total Revenue	1112.50	1086.70

You can see the segment performance driving that total number in Q3 2025:

• Liberty Caribbean rebased fixed residential revenue growth: 5%.
• Liberty Caribbean rebased residential mobile and B2B revenue growth: 2% each.
• Liberty Networks reported and rebased revenue growth: 6%.
• Liberty Puerto Rico rebased revenue decline: 5%.
• Postpaid mobile additions in Q3 were the highest in three years across the group.

Finance: draft 13-week cash view by Friday.