Uniti Group gets boost from wholesale and infrastructure

ASX-listed wholesale and consumer telco services provider Uniti Group has posted a bumper 2021 financial year with strong showings from all of its business segments.

In the 12 months ended 30 June 2021, the company reported revenue of $160 million, up 175 percent from $58.2 million in FY2020. Underlying EBITDA grew 254 percent to $93.7 million, while net profit after tax increased 83 percent to $29.2 million.

Wholesale and infrastructure saw the biggest revenue increase during the period, growing 372 percent to $105.4 million, as its fibre-to-the-premises network expansion also saw an increase in orders. Uniti’s combined premises, which include connected, “ready-to-connect”,
contracted/in-construction and Telstra Velocity premises, to some 565,000 across Australia.

Communications Platform as a Service (CPaaS) grew 47 percent from $21 million to $31 million from growth in its customer base during the period, including SMEs and large enterprises. The business unit includes its premium voice services division, which sells phone numbers starting in 13, 1300, 1800.

Consumer & Business increased its revenue 82 percent from $24 million to $43.6 million, with Uniti crediting its recent acquisition of Harbour ISP and for having more customers on its own fibre network.

“We are immensely proud of the company Uniti has become in just two and a half years since listing, transforming from a loss-making fixed wireless business into a highly profitable, growing, ASX200 organisation,” Uniti chief executive Michael Simmons said.

“Today, Uniti is a ‘group of one’, an integrated digital infrastructure company, which is the definitive challenger in the residential FTTP market, with a platform to further expand market share and presence in adjacent markets.

“We are committed to a simple strategy; winning new business, building and owning fibre
networks and filling them up with satisfied users of our high-speed fibre broadband services.”Got a news tip for our journalists? Share it with us anonymously here.

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