Nextel Brazil Reports Third-Quarter Results
Thursday, November 08, 2018 | Comments

NII Holdings announced its financial results for the third quarter of 2018. For the quarter, the company generated consolidated operating revenues of $142 million and consolidated operating income of $1 million.

For the third quarter of 2018, Nextel Brazil, the company's operating subsidiary in Brazil, reported 3G/4G net subscriber additions of 85,700 and 3G/4G churn of 2.68 percent, a 136-basis point decrease year-over-year. Additionally, for the third quarter of 2018, Nextel Brazil's average monthly service revenue per subscriber (ARPU) was $14, cost per gross addition (CPGA) was $55 and cash cost per user (CCPU) was $11.

"We reported strong operational and financial results as the momentum we built in the first half of the year continued this quarter," said Roberto Rittes, CEO of Nextel Brazil. "The combination of subscriber growth and further cost reductions drove a significant improvement in adjusted OIBDA. With the iDEN wind down behind us, we are focused on continuing to execute on our 3G/4G growth plan and translating that growth into improving profitability."

At quarter-end, Nextel Brazil's sources of funding totaled $307 million, including $201 million of unrestricted cash and short-term investments and $106 million of cash held in escrow to secure indemnification obligations in connection with the sale of the company's operations in Mexico.

In September, Access Industries, through its affiliate AI Media Holdings, acquired ice group's 30-percent equity interest in Nextel Holdings, which owns 100 percent of the equity interests of Nextel Brazil. NII Holdings and AI Media are working together to review and agree on continued investments to support Nextel Brazil's growth plans.

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