Superloop delivers record market share gains, positive NPAT, AND unleashes internet for 731,000 customers (and counting!)

As we wrap up the reporting period, Superloop now has 731,000, 60% more than last year.

On top of this, Group Revenue was up 31% to $546m and Underlying EBITDA was up 70% to $92.2m, reflecting impressive revenue growth in the Wholesale (+62%) and Consumer (+37%) segments in particular, and demonstrating the clear operating leverage in the business. And impressively, Superloop concluded the FY by delivering a positive Net Profit After Tax one year ahead of plan.

Here are the highlights:

• 731,000 customers, up 60%

• Revenue of $546m, up 31%

• Underlying EBITDA of $92.2m, up 70%

• Net Profit After Tax $1.2m, up $16m

• 37% revenue growth in our Consumer segment

• 0.8% revenue growth in our Business segment

• 62% revenue growth in our Wholesale segment

• 6.6% nbn market share

And a word from our CEO & Managing Director, Paul Tyler:

“We are delighted that our Double Down strategy continues to deliver, driving record nbn market share of 6.6% and 275,000 new customers. Outstanding performance in Wholesale and continuing strong growth in Consumer has delivered 31% growth in revenue to $546 million, which combined with our focus on cost leadership and efficiency, generates clear operating leverage and 70% growth in underlying EBITDA to $92.2 million.

“Superloop is well placed to capitalise on the changes to nbn high speed plans due to take effect in September. We are already winning in the high-speed market with our Superloop brand and, along with the launch of our new Exetel ONE PLAN, we have great momentum with 16,000 net new Consumer customers in the first seven weeks.“Our market share gains and segment growth has generated gross operating cash flow of $88 million with a conversion rate of 95%.

“This strong cash flow generation enables us to further invest in the Consumer and Wholesale businesses, that focus on the nbn broadband market in existing premises. On a longer-term basis, it enables investment in our Smart Communities business which delivers connectivity for new property developments, such as our landmark win with the New South Wales Government to deliver 10,000 lots in the Bradfield, Australia’s newest city.”

So a massive congrats to the entire Superloop team – you’re doing a top notch job building, running, selling, supporting, and sharing a sensational internet experience!

Want to have a look at the results in detail? Head to the Superloop Investor Centre.