Superloop has announced a return to profitability, posting a net profit of $1.2 million. This marks a significant turnaround from the $14.7 million loss recorded in the previous year. The telecommunications company has experienced considerable growth in its customer base, particularly in the internet broadband sector.
Superloop is a telecommunications provider that delivers connectivity and networking solutions. The company focuses on providing services to businesses, government organisations, and wholesale customers. A key driver of Superloop’s improved financial performance has been its expanding share of the national broadband market, which has increased from 2.8 per cent to 6.6 per cent.
Underlying EBITDA saw a substantial rise, climbing 70 per cent to $92.2 million. This growth aligns with a 60 per cent increase in total customer numbers, reaching 731,000. A significant contributor to this expansion is a new six-year wholesale contract secured with Origin Energy, bolstering Superloop’s revenue streams and market position.
