Superloop is today excited to release our FY20 results to the market with the announcement of our midpoint guidance EBITDA of $13.5 million having been achieved.
FY20 was an unprecedented time with the global changes and shifting marketplace COVID-19 delivered. Superloop responded quickly and prudently though, and delivered initiates to not only ensure Superloop's continued growth but to also provide assistance to Australians.
These initiatives include Superloop identifying and executing a more focused capital expenditure program including COGS efficiencies and permanent operating cost saving measures. Plus launching our Online Learning Plan offering free nbn for families with children learning remotely as well as extended temporary hardship / billing support provisions for customers.
The results show a group revenue of $107m, supported by strong growth in underlying recurring ﬁbre connectivity revenue and particularly strong ongoing growth in high bandwidth home broadband leveraging our network and platforms.
Having completed the major infrastructure build Superloop is continuing to take leadership in innovation and development. Major projects include automation and self service, SD Wan, software security appliances and international burstable Ethernet services.
"We have completed the major infrastructure builds in both Australia and international, restructured our balance sheet, continued to drive ﬁnancial discipline to realising an operating cash positive position, enabled early actions to manage the business in the COVID environment, whilst selling more “on net” services, with longer contracts AND delivered them quicker," Drew Kelton, CEO, Superloop.
Download the full presentation and release documents here.