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Aussie Broadband’s revenue is up 27 per cent to $999.7 million for the 12 months to 30 June, with recent acquisition Symbio labelled as a “hugely positive investment” by the company during the 12 months to 30 June.
For reference, the company’s revenue in FY23 was $788 million.
This is according to its latest financial report, which also stated the service provider’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 34.5 per cent to $120.5 million.
Cofounder and group managing director Phil Britt claimed Aussie had an excellent year, delivering “strong financial results again”.
“In our 20th year of operations, we have evolved into a leading technology and communications business with our fibre infrastructure and voice networks,” he said.
The revenue result includes months’ contribution from Symbio, which was acquired in February and has been a significant financial boon to Aussie’s finances with $12 million in EBITDA brought in, noted Britt.
“The acquisition of Symbio is proving to be a hugely positive investment, boosting revenue streams and strengthening the group’s financial profile,” he said.
Britt added that with the company’s healthy balance sheet, Aussie is “in an enviable position to make strategic investment decisions – whether that is in our own assets and infrastructure, on mergers and acquisitions, or providing a return to shareholders”.
At the same time, the provider also announced changes to its group and executive leadership team.
John Reisinger, co-founder and chief technology officer (CTO) has advised of his plan to retire from Aussie Broadband, effective 31 October 2024.
Over the past 12 months, Reisinger’s priorities have transitioned to Brad Parker, chief infrastructure engineering officer. Parker’s title will change to CTO upon Reisinger’s retirement.
Andy Giles Knopp, who joined Aussie Broadband as interim chief financial officer (CFO), has been appointed group CFO effective immediately.