Subject: [NEXTEL-1] NII Holdings posts US$83mn Q1 Ebitda

From: [email-masked]
Date: Fri, 30 Apr 2004 13:04:43 -0400

NII Holdings posts US$83mn Q1 Ebitda
April 29, 2004 8:15pm
BNamericas.com

Latin American trunking operator NII Holdings (Nasdaq: NIHD) posted
operating income before depreciation and amortization (Ebitda) of
US$83mn, up 45% from the same period last year, the company reported
Thursday.

Consolidated operating revenues were US$277mn, up 36% from 1Q03, while
consolidated operating income was US$54mn for the quarter, a 39%
increase over the 1Q03.

The company added 89,200 customers in the quarter, bringing total
customers across its operations in Argentina, Brazil, Mexico and Peru to
1.55 million.

NII's cash balance and short-term investments was US$398mn at the end of
the quarter.

"Our debt is about US$642mn, so our net debt, [total debt plus cash]
stands at about US$244mn, which is a very healthy, 0.8X our 2004
guidance for operating income before depreciation and amortization," CFO
Byron Siliezar told BNamericas.
Mexico remains the strongest market and received 51% of NII's US$48mn
first quarter capital expenditures for additional network capacity and
quality upgrades, according to Siliezar. Rounding out its other markets,
the company devoted 19% of capex to Brazil, 17% to Argentina and 11% to
Peru.

The company was able to continue reducing its overall churn, a key
metric. "Our consolidated churn for the quarter dropped to 1.9%. It's
our ninth consecutive quarter of churn reduction," Siliezar said. "One
of the things we've been very pleased with is the continued reduction of
churn levels in Brazil. Brazil reported a churn during this first
quarter of about 2.3%, that's almost a full two percentage point
improvement over the first quarter of last year."

The company reported a consolidated net loss of US$40mn that included a
charge of US$79mn related to the early retirement of the company's 13%
senior debt. Excluding the charge related to the retirement of this debt
and non-cash tax benefits, NII generated net income of US$26mn in the
first quarter.

US-based NII Holdings provides digital trunking services to business
clients in Argentina, Brazil, Mexico and Peru using Motorola's IDEN
technology. Virginia-based Nextel Communications (Nasdaq: NXTL) owns 36%
of NII.

http://www.hoovers.com/free/news/detail.xhtml?ArticleID=NR200404303200.1_bfea0008b3db0ba7

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