Superloop has announced the acquisition of Victoria’s Lightning Broadband for $165 million as part of its strategic expansion of fibre networks. The telco group reported an interim net profit, marking a significant turnaround from the previous year’s loss. The acquisition, funded through a combination of cash and debt, will bolster Superloop’s “smart communities” business, which focuses on providing internet services to sectors such as student housing, hospitals, and hotels. Lightning Broadband, currently owned by Lynham Networks, operates a wholesale broadband network and offers retail services to consumers. Superloop provides connectivity and networking solutions, operating in Australia, Singapore, and Hong Kong. The company designs, constructs, and operates networks for businesses, governments, and homes.
Superloop’s financial results revealed a $5 million interim net profit, a substantial improvement from the $7.8 million loss recorded in the prior corresponding period. The company’s share of the national broadband market grew by 1.5 per cent, reaching 7 per cent, driven by the addition of 49,000 net new customers during the six months ending December 31. Total group revenue surged to $317.6 million, representing a 23 per cent increase that surpassed some analysts’ expectations. The most robust revenue growth was observed in the consumer and wholesale segments, which include the Origin Energy contract secured from Aussie Broadband in 2024.
Despite Superloop’s positive performance, Aussie Broadband recently finalised a $115 million agreement to acquire customers from energy retailer AGL. This deal encompasses 218,000 broadband customers who are currently receiving internet services from Superloop. This acquisition by Aussie Broadband is set to impact Superloop’s customer base in the coming months.
In light of recent developments, Superloop has revised its full-year underlying EBITDA guidance upwards, now projecting a range of $112 million to $120 million. This is an increase from the previous guidance of $109 million to $117 million, reflecting confidence in the company’s overall performance and strategic direction despite competitive pressures.
