Superloop revenue more than doubles after Exetel acquisition and wholesale growth – Telco

Connectivity and managed services provider Superloop more than doubled its half-year revenue thanks to contributions from the recent Exetel acquisition and its wholesale business.

In the six months ended Dec. 31, 2021, the company reported revenue of $119.8 million, up 125% from $53.3 million year-over-year. which includes contributions from Exetel and organic growth of 18.1%.

Superloop acquired Exetel, which billed itself as Australia’s largest independent ISP, in June 2021 for $110 million as part of the company’s plan to accelerate use of its APAC network. Exetel also helped boost consumer and business revenues by 220% and 180%, respectively.

The wholesale business also contributed to the growth with a 12.8% increase in segment revenue, following the launch and implementation of the company’s wholesale platform, Superloop Connect.

“Throughout the first half of this fiscal year, the group achieved important strategic milestones, including the completion of the acquisition of Exetel and the announced sale of the Hong Kong business and certain Singapore assets. Fundamentally, Superloop now has a simpler, more focused business, and a greater strategic focus on growth,” said Superloop CEO and Managing Director Paul Tyler.

“It is particularly pleasing that the growth across all segments demonstrates the true strength and diversification of Superloop’s business model. Going forward, we will continue to balance this growth between profitability and reinvestment in future growth.

“While we saw a solid contribution from Exetel network synergies to be realized from the acquisition in the first half, we expect a larger contribution in the second half. Overall, I am confident that the business can meet its expectations for the full year, provided the pressures of the pandemic continue to ease in the months ahead. »

Other Superloop segments also saw growth, with consumption rising 303.4% from $14.7 million in the first half of fiscal 2021 to $59.3 million this year, while businesses increased by 124.5%, from $15.9 million to $35.7 million.

Looking forward, Superloop expects underlying EBITDA to be between $23 million and $25 million for the full fiscal year 2022 result.

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