AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- SLC recorded a 30% year-on-year increase in its revenue in FY24 to AUD 420.5 million and NPATA surged by 738.5% to AUD 23.5 million.
- SLC has onboarded over 130,000 Origin broadband subscribers, with the onboarding of the remaining customers expected to be completed by 31 October 2024.
- SLC shares have increased by 174.4% over the past year.
Superloop Limited (ASX:SLC) is an ASX telecommunications company that operates through wholesale, business and consumer segments. The telecom sector in the Australian market is expected to benefit from the annual turnover data released by the Australian Bureau of Statistics (ABS) on 11 October 2024.
The data indicated that business turnover fell by 0.7% in August in seasonally adjusted terms, driven primarily by the mining sector, which experienced a month-on-month turnover decrease of 3.5% and an annual decline of 5.9%. In contrast, all other sectors recorded YoY growth in turnover.
Specifically, the information media and telecommunications sector saw an 8.6% increase in business turnover, while the transport, postal, and warehousing sector experienced a growth of 6.9%.
Additionally, the telecom sector is likely to benefit from the ongoing expansion of 5G networks, increase in internet usage, streaming services, remote work and online shopping.
Today (14 October 2024), the company shared that it has onboarded more than 130,000 Origin broadband subscribers to its network and the remaining Origin broadband customers are anticipated to be onboarded by 31 October 2024.
Financial performance of SLC
In the financial year 2024 (FY24), the company recorded a 30% YoY rise in its revenue to AUD 420.5 million, driven by an increase in revenue in the wholesale, business and consumer segments. Meanwhile, the underlying EBITDA increased by 45.2% YoY to AUD 54.3 million and NPATA jumped 738.5% YoY to AUD 23.5 million. Notably, in FY23, the company recorded a net loss of AUD 3.7 million.
Share performance of SLC
SLC shares closed 1.44% lower at AUD 1.71 apiece on 14 October 2024. In the past one year, the share price has increased by 174.4%, while in the past three months, the share price has increased by 10.65%.
52-week high of SLC is AUD 1.85, recorded on 20 September 2024, and 52-week low is AUD 0.58, recorded on 24 October 2023.
SLC Daily Technical Chart, Source: REFINITIV
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 14 October 2024. The reference data in this report has been partly sourced from REFINITIV.
Disclaimer
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