The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas Telecommunications Company's (BTC) fell by more than $21m year-over-year for the nine months to end-September 2020 despite further slowing the erosion of its mobile customer base.

Liberty Latin America (LiLAC), the ultimate parent for BTC, in unveiling its results for the 2020 third quarter yesterday disclosed that BTC suffered an 11 percent top-line fall for the period as revenues dropped by more than $5m compared to 2019 - dropping from $50.1m in a quarter impacted by Hurricane Dorian to some $44.6m this time around.

The extent of the 2020 third quarter shrinkage, though, was reduced in comparison to the 13.6 percent year-over-year revenue decline for the first nine months. Over that period, BTC's income dropped from $156.2m to $134.9m as the COVID-19 pandemic's fall-out bit into the communications industry's financial performance.

LiLAC yesterday said the Bahamian tourism industry's near-total shutdown for at least two months of the 2020 third quarter was the chief factor behind the $6m decline in roaming revenue suffered by BTC's immediate parent, Cable & Wireless Communications (CWC), during that period as there were no visitors to use their phones.

"Inbound roaming revenue declined by $6m year-over-year, with the largest impact in The Bahamas due to a reduction in tourism as a result of COVID-19," LiLAC added.

However, there was better news for BTC when it came to its mobile market share, as the data unveiled by LiLAC suggests it is now holding its own in the battle against Aliv for subscribers given that the attrition appears to have stabilised amid the pandemic.

While BTC lost some 1,800 pre-paid subscribers during the three months to end-September 2020, with the total falling to 150,100 quarter-over-quarter, the net customer loss was reduced to 1,200 after it gained 600 post-paid users.

This drove total post-paid subscribers to 29,000, giving BTC some 179,100 mobile customers at the third quarter's end. This follows the additional 1,600 subscribers post-paid subscribers that it gained in the 2020 second quarter, in what is a more lucrative, higher margin category that pre-paid. And the third quarter loss in pre-paid is modest compared to the 20,700 drop-off during the three months to end-June.

Elsewhere, BTC added a net 1,000 customers across its other business lines during the 2020 third quarter. Additions of some 1,500 new broadband Internet subscribers, and 600 video/TV customers, more than offset the 1,100 decline in fixed-line voice phone clients.

The latest BTC data reveal comes as the carrier aims to ensure more than half the homes in Nassau and Grand Bahama will be passed by its latest network technology come year-end 2021 as it launches a national Internet connectivity drive.

Andre Foster, its chief operations officer, told Tribune Business recently that the carrier also plans to "turn up" its off-island broadband connectivity next year through the addition of 20 gigabytes of connectivity between the first and third quarters, as its network "brings on stream" new neighbourhoods in the Carmichael Road area and western New Providence.

And, with 50 percent of homes in Grand Bahama, and 45-47 percent in New Providence, already bypassed by its fibre-to-the-home technology, Mr Foster said BTC was targeting an increase to "55 percent combined between the two islands" by year-end 2021.

Disclosing that BTC was looking to integrate its fibre and mobile networks more closely, he added that this will provide the platform for new product launches by year-end or the 2021 first quarter.